Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Economy

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Ukraine to receive $1.5bn in aid from World Bank

The World Bank said ESG, volatility and risk and inflation were the main challenges facing central banks in 2022. (AFP)
By TRENDS Desk AFP
June 8, 2022 11:44 am
  • The new financing from World Bank to Ukraine will be used to pay wages for government and social workers
  • According to Zelensky, Ukraine's government needs a total of $7 billion aid in a month to continue to function
The World Bank on Tuesday approves an additional $1.5 billion in aid for Ukraine, bringing the total planned support package to more than $4 billion.
The Russian invasion of Ukraine in late February has created a humanitarian crisis and devastated the country’s economy, destroying infrastructure and blocking key grain exports, as well as draining the government’s ability to pay its bills.
The new financing will be used to pay wages for government and social workers, the development lender said in a statement, noting that with the new funds nearly $2 billion has been disbursed so far. The World Bank “is providing continuing support for Ukraine and its people in the face of the ongoing war,” bank President David Malpass said in a statement. “We are working with donor countries to mobilize financial support and leveraging the flexibility of our various financing instruments to help provide Ukrainians with access to health services, education and social protection.”However, Ukraine President Volodymyr Zelensky has said his government needs a total of $7 billion a month in aid to continue to function.

[adinserter block="5"]

Most Read

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]