Kuwait City, Kuwait-- Kuwait National Petroleum Company has exported the first shipment of the advanced diesel fuel to the European markets in light of the severe shortage of energy sector in the continent. Kuwaiti media reports said the company shipped 66,000 tons, and the shipment was produced with special specifications...

Algiers, Algeria-- Algeria approved the 2023 budget, the largest in the country's history after President Abdelmadjid Tebboune approved the Finance Law on Sunday. The Algerian government allocated the largest budget since its independence - 6 decades ago - at a value of $98.5 billio), an increase of $24.5 billion over...

Seeking to deepen energy ties, Saudi Arabia and Japan have signed two sets of cooperation agreements in the fields of hydrogen, fuel ammonia and carbon recycling. The agreements were the latest in Japan's efforts to develop its large-scale supply chains of hydrogen and fuel ammonia in the Middle East.

It refuted reported plan to acquire Wall Street Journal or the Washington Post.

The Makkah Chamber of Commerce, Madinah Chamber of Commerce and the Islamic Chamber of Commerce will sign the agreement at the Makkah Chamber Center for Exhibitions and Events next Wednesday in presence of representatives from the 57 member countries of the Organization of Islamic Cooperation and several diplomats.

DUBAI, UAE -  UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri presided over the first meeting of the Farmers’ Council. The meeting was organized by the Ministry of Climate Change and Environment (MOCCAE). The meeting highlighted the government directions to promote sustainable modern farming systems across...

Manama, Bahrain--- Export Bahrain and the Bahrain Chamber of Commerce and Industry have signed an MoU to support Bahrain-based businesses in gaining access to global markets through Export Bahrain solutions. The two entities will facilitate the business community in Bahrain to attract strategic investment partnerships and enhance the competitive work environment...

DUBAI, UAE - The ninth Sustainability Report 2021 issued by Dubai Electricity and Water Authority (DEWA) highlights its efforts and achievements in supporting sustainable development in all its economic, social and environmental aspects. It introduces partners, relevant entities and all stakeholders to its performance and practices in sustainability. The report...

The introduction of new laws regarding the ownership structure of mainland companies may boost the Gulf country's economy in 2023 as it is expected to attract more investors.

AL-MAHRA, YEMEN - The second batch of the new Saudi oil derivatives grant of 4,491,000 metric tons of diesel was delivered in Al Mahrah. The grant comes as part of the Kingdom's support for the Yemeni people under the directives of King Salman and the Crown Prince to help Yemen...

Saudi market's primary index fell for the eighth week in a row. Abu Dhabi index fell for four of five days. Dubai's main index fell three days out of five this week.

The bill requires Boeing to make some enhancements to the jets, but allows the Federal Aviation Administration to approve both the 737 MAX 7 and 737 MAX 10 without mandating an overhaul of the crew alerting systems. The bill requires the enhancements to be installed on other MAX models within...

A key indicator of US inflation edged down from a year ago in November, according to government data, in welcome news to households grappling with soaring costs while spending slowed. This extends a downward inflation trend in recent months, though it is unlikely to bring quick relief from an aggressive...

Ajman, UAE--Abdullah Al Muwaiji, Chairman of the Board of Directors of Ajman Chamber of Commerce and Industry (ACCI), has affirmed the Chamber's keenness to consolidate its external relations and build strong partnerships to achieve sustainable future growth for the economy of the Emirate of Ajman. This came during his meeting,...

Iraq's prime minister appealed to visiting Italian counterpart Giorgia Meloni for closer economic ties with his oil-rich country suffering from power cuts and decaying infrastructure. Meloni, who leads the eurozone's third-largest economy, is on her first bilateral trip outside Europe. She is on a pre-Christmas visit to Italian troops posted...

SALIC had signed the acquisition pact in March.

The move will help Dubai in becoming a cashless economy.

Sharjah, UAE--- A Women under the age of 40 lead 77.6 percent of the women-owned businesses in the UAE, a survey has said. The survey conducted by NAMA Women Advancement, in partnership with UN Women, found that of the 1,000 female business owners who took part in the survey, 48.8...

Upon the approval of the European Commission, the Berlin government this week completed a 34.5 billion euro ($36.55 billion) bailout for Uniper.

Complicating matters has been the loss of EU workers in sectors such as health, hospitality and agriculture, even if some of those returning home have been replaced by staff from non-EU countries. Witnessing the fallout, some high-profile bosses who voted for Brexit are calling on the government to relax the...

YouTube TV subscribers, who now pay $64.99 a month for a viewing package, will have to pay an added fee - as yet undetermined - to view the games, or they can view them on an a-la-carte basis on its YouTube Primetime Channels platform. They will not be able to...

Turkey's latest economic crisis started when Erdogan -- a lifelong opponent of high interest rates -- pressured the central bank to bring down chronically high consumer prices by lowering borrowing costs.

The firm must stand trial to face US$12 billion damages claim

Muscat, Oman - Saeed bin Hamoud Al Maawali, Omani Minister of Transport, Communications and Information Technology, has said that the digital economy of the Gulf Cooperation Council (GCC) region is advancing at a rapid and significant pace, noting its major importance to GDP. He noted the importance of promoting cooperation...

The French regulator said that after investigations it found that "when users visited this site, cookies were deposited on their terminal without their consent, while these cookies were used, among others, for advertising purposes." It also "observed that there was no button allowing to refuse the deposit of cookies as...

ABU DHABI, UAE  - UAE's Ministry of Finance (MoF) has launched a Corporate Tax Public Awareness Program following the issuance of the Federal Decree-Law on Taxation of Corporations and Businesses. The launch of the program was announced during a media briefing held Thursday by the ministry to raise public awareness...

Abu Dhabi, UAE---The Central Bank of the UAE (CBUAE) has issued a new guidance on anti-money laundering and combatting the financing of terrorism (AML/CFT) for the Licensed Financial Institutions (LFIs) in the insurance sector comprising insurance and re-insurance companies, agents and brokers. The guidance, which comes into effect immediately, will...

DUBAI, UAE -   MD & CEO of Dubai Electricity and Water Authority (DEWA)    Saeed Mohammed Al Tayer has launched the construction work for the Hatta Sustainable Waterfalls project. The  US$12 million (AED 46 million) project was recently awarded to DEWA and is part of the company's social and investment responsibility...

The operation placed about 5.2 billion calls to more than 550 million wireless and residential phones between January and March 2021, employing more than one million unique caller ID numbers, said the FCC. The effort included "spoofing" the phone numbers of hospitals, "which resulted in confused consumers calling the hospitals...

On Friday, accountancy firm Mazars, engaged by Binance to provide a "proof of reserves" report, abruptly halted work with all crypto firms because of "public misunderstanding" of what they were providing. A "proof of reserves" report is not a full audit and gives no information about liabilities. Media reports suggested...

Dubai, UAE---Dubai real estate market recorded deals worth AED1.3 billion ($490 million) on Tuesday, said Dubai Land Department. The deals included 495 sales transactions worth AED1.32 billion, in addition to 81 mortgage deals of AED454.83 million, and 24 gift deals amounting to AED34.33 million The sales included 479 villas and...

Mumbai, India - India's central bank governor warned Wednesday that cryptocurrency markets risked causing the next global financial crisis, saying the recent collapse of FTX was proof of the sector's "inherent risks". The comments close out a challenging year for India's millions of crypto owners, who are already reeling from a...

Rabat, Morocco - UAE and Morocco discussed ways of boosting their cooperation and investment opportunities in industry, economy, investments, culture, and tourism. The discussion occurred between Sultan Ahmed Al Jaber, UAE's Minister of Industry and Advanced Technology and Aziz Akhannouch, Prime Minister of Morocco, in Morocco. The visit is a...

The high-density polyethylene complements its Trucircle range.

The statistics showed that the cumulative balance of credit provided by national banks to the trade and industry sectors reached $196 billion at the end of August.

After the transaction, OMV will hold 31.5 percent.

The limit will increase from 49% to 100%.

In the poll results which were posted on Monday, 57 percent of voters, or 10 million votes, favored Musk stepping down just eight weeks after he took ownership of the company for $44 billion.

Algiers, Algeria-- Sonatrach of Algeria and VNG AG of Germany have signed a memorandum of understanding for the construction of the first green hydrogen plant in the North African country. The MoU was signed on the sidelines of the fourth Algerian-German Energy Day in Algiers. The deal was signed between...

The two will manufacture 'innovative' drugs in Abu Dhabi.

Businesses in the region are working closely with their governments to get cloud security solutions implemented to reduce the success rates of phishing attempts.

Amazon, and its software, will be forbidden from analyzing non-public third-party seller data, and will treat all sellers equally when deciding which offer to put in the best screen location. Sellers will also be allowed to choose their own delivery firm, rather than being obliged to use the service chosen by...

DUBAI, UAE  - Nearly 2,000 global business executives and investors attended the World Corporate Summit in Dubai to share in the vision of improving the world through business. Held in Dubai from November 21 till December 15 2022 at the Palace Downtown Hotel, this summit which was supported by Dubai’s...

Hospitals in many countries have come under pressure from a rising number of illnesses including what has been dubbed a "tripledemic" of Covid-19, influenza and the respiratory syncytial virus (RSV) which causes bronchiolitis.

WASHINGTON, UNITED STATES - US lawmakers early Tuesday released the text of a US$1.7 trillion funding bill which Congress hopes to pass within days to avert a government shutdown. The bill includes $858 billion in defense funding and will also provide $44.9 billion in emergency assistance for Ukraine. It also includes...

Dubai, UAE--The Ministry of Human Resources and Emiratisation (MoHRE) has held a meeting with a number of recruitment agencies in the UAE to discuss the latest developments and ways to benefit from the Nafis platform, helping companies with 50 employees or more achieve the Emiratisation targets of 2% for skilled...

Analysts have also pointed out that the stock price of Tesla has slumped by one-third since Musk's Twitter takeover. The share price briefly rallied by 3.3 percent on Monday before fading. "It's hard to ignore the numbers since [the Twitter] deal closed," tweeted investment expert Gary Black, saying he reckoned...

As the Gulf nations look to deepen economic partnership with China, the US, the region's dominant security force, watches with concern the GCC tilt toward its rival.

Sharjah, UAE-- Arada has awarded two major contracts totalling $256 million to build 986 new homes across two residential districts at Masaar, Sharjah’s woodland megaproject. Valued at $2.17 billion and containing 4,000 homes spread over seven gated districts, Masaar features a nature-inspired master plan containing more than 50,000 trees. The...

SHARJAH,  UAE -  A Belgian delegation met with Sheikh Majid Al Qasimi, Director of the Department of Government Relations (DGR) in Sharjah. Antoine Delcourt, Ambassador of the Kingdom of Belgium to the UAE was also present on the occasion. Al Qasimi welcomed the Belgian delegation comprising Juren Seleslag, Political Affairs...