BRUSSELS, BELGIUM  - In the European Union countries, 75 percent (193.5 million) of people in the 20-64-year- age group were employed, the highest since the start of the time series in 2009, as per the labor force data published by Eurostat. The employment rate dropped to 72 percent in 2020...

The first-quarter profit increased by 30% compared to Q1 2022.

DUBAI, UAE - The 30th edition of Arabian Travel Market (ATM) will open Monday at Dubai World Trade Center (DWTC), local media reports said. The event, on May 1-4, will see global travel, tourism, and hospitality experts come together to explore how their industry is ‘Working Towards Net Zero’.For ATM...

The agreement also provides for the creation of a cohesive relationship between the ministry's strategic priorities and training needs, as well as offering training programs that improve the personal abilities and skills of employees. This, in turn, contributes to increasing job satisfaction within the ministry.

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) affirmed its commitment to achieve the 'We the UAE 2031' vision to position the Emirates as one of the top 10 countries globally in the 'Human Development Index'. The 'We the UAE 2031' vision was launched by Sheikh Mohammed bin Rashid...

London, United Kingdom -- Through inheritance, royal estates and shrewd investing while a prince, Charles III will be crowned on May 6 with a considerable fortune to his name. Queen Elizabeth II bequeathed her son an estimated £360 million ($448 million) upon her death in September last year, boosting Charles's fortune...

Suhail bin Mohammed Mazrouei, Minister of Energy and Infrastructure, said the UAE was keen to widen ties with Uzbekistan in sectors such as transport and infrastructure. He disclosed that companies such as Mubadala, masdar, and Taqa currently operating in the country have plans to increase their investments in the future.

Akbar al-Baker, head of Qatar's tourism agency and Qatar Airways, said hotel occupancy in the months after a World Cup is "always low". Along with the departed football crowds, thousands of foreign workers left the Gulf state after Lionel Messi lifted the coveted trophy on December 18. Many of those...

Tehran, Iran--Iran and the European Union traded $847 million worth of goods during the first two months of 2023, registering a 9.2% fall compared with the same period of the year before. Data released by Eurostat show Germany was the top trading partner of Iran in the EU region during...

The announcement came as Musk has struggled, amid frequent controversy, to make Twitter profitable. The per-article approach, some Twitter users said, could encourage a flourishing of "click bait." It is feared it might favor big publishers over small ones, and it is unclear that authors -- not just news groups...

DUBAI, UAE - Dubai’s Department of Economy and Tourism (DET) is likely to display the diversity of the Emirate's destination, offering sustainability platforms and highlighting new initiatives designed to boost the tourism industry during the 30th edition of Arabian Travel Market(ATM), local media reports said. This year’s ATM, from May...

Tehran, Iran--Accompanied by a large delegation, Iraq's President Abdul Latif Rashid arrived in Tehran to deepen economic, trade and political ties with the Islamic Republic of Iran. Upon his arrival early on Saturday, the Iraqi chief executive was welcomed by Minister of Economic Affairs and Finance of Iran Ehsan Khandozi at...

Amman, Jordan--The volume of trade exchange between Jordan and the US shot up in January and February 2023 to $745 million compared to $561 million for the same period in 2022. Foreign trade data issued by the Department of Statistics (DoS) showed that the value of Jordanian exports to the...

Abu Dhabi, UAE-- Looking to employ 5,000 UAE national by 2026, and designing a program to groom future banking and financial sector leaders, the UAE Banks Federation (UBF) approved the plans for 2023 presented by the board of directors at its Annual General Meeting (AGM). The AGM was chaired by...

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a report published into the collapse of Silicon Valley Bank last month. "Following Silicon Valley Bank’s failure, we must strengthen the Federal Reserve’s supervision and regulation," Federal Reserve vice chair for supervision Michael Barr...

The group reported AED1.60bn as profit attributable to the shareholders.

JEDDAH, SAUDI ARABIA  - Islamic Development Bank (IsDB) President and Group Chairman Dr. Muhammad Al-Jasser and Uzbekistan Minister of Investments, Industry, and Trade Laziz Kudratov have signed three financing agreements for  the development of infrastructure and social services in the Central Asian country. These agreements aim to promote sustainable economic...

BERN, SWITZERLAND - Switzerland's central bank said Friday that the country's banking regulations needed toughening up after the implosion of Credit Suisse, while the sector also needed to ensure proper competition for services. "Banking regulation and supervision will have to be reviewed in light of recent events," Swiss National Bank chairman...

ABU DHABI, UAE - The UAE will participate in the Joint Annual Meeting of Arab Financial Institutions, which will be held Friday in Rabat, Morocco, to discuss means of overcoming the development challenges faced by the region. Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini will lead...

Dubai, UAE -- A total of 2,049 real estate transactions worth AED10.8 billion ($2.94 billion) were conducted during the week ending 28 April 2023, according to the Dubai Land Department (DLD). The DLD report said that 172 plots were sold for AED 1.58 billion, while apartment and villa sales stood...

The company reported revenues of $1.38 billion in Q1 2023.

The consolidated revenue rose 13 percent to $24.2 million.

The German automaker said its revenues were up 8%.

The company reported record full-year sales of 11.5trn yen.

The crucial semiconductor industry, that powers everything from personal computers, smartphones to fighter jets, suffered a dismal first quarter as demand plummeted for chips. Intel, one of the world's leading semiconductor makers, was also affected by falling demand for chips that power data centers and is struggling to compete with...

The company's shares spiked over 10 percent on Thursday.

Wall Street stocks pushed higher despite data that showed US economic growth is slowing, which raised fresh questions about interest rates hikes. The dollar rose against the euro and yen after the data showed US gross domestic product rose at an annual rate of 1.1 percent in the January to...

Operating income increased by 51 percent year-on-year.

The total assets grew by 4% to reach AED 77.9bn ($21.21bn)

Meta reported a profit of $5.7 billion in the first quarter of this year, beating forecasts after a massive wave of cost-cutting and layoffs.

The UAE also eyes investment opportunities with Cambodia in logistics and infrastructure, travel and tourism projects, and renewable energy, reports said.

The firm had sold its oil sands activities in Canada to SunCor Energy.

The bank's total income exceeded AED 10bn for the first time.

Women represented only 11.4% of executives in major firms in Japan in 2022, according to a survey, although the figure has been rising. "We seek to have the ratio of women among executives at 30 percent or more in companies that are listed on the Tokyo Stock Exchange's Prime Market,"...

The bank's profit was boosted by rising interest rates.

Inflation pushes the consumer goods giant to hike prices.

The total dividend payout will be $171 million.

Amman, Jordan-- Jordan's King Abdullah has called for enhancing the investment environment in the kingdom in order to propel economic growth and job creation. During a meeting at Al Husseiniya Palace on Wednesday to follow up on the implementation of the Investment Ministry’s action plan, King Abdullah highlighted the need...

Vienna, Austria— Continuing with its initiative to support businesses across the world, the OPEC Fund for International Development (the OPEC Fund) is providing a US$50 million loan to Banco Continental in Paraguay for on-lending to small- and medium-sized enterprises (SMEs) in agricultural and livestock sectors. The investment is part of...

BP in February announced that it expected to boost its profits between now and 2030 by investing more in both renewable energy and hydrocarbons, slowing the pace of its transition. Environmental group Greenpeace, which only last year was calling BP "the most ambitious" of the global majors, criticised the plans,...

Abu Dhabi, UAE - A UAE delegation led by Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, visited Belgium, aiming to strengthen economic ties and promoting investment opportunities with Brussels and the wider European Union (EU). The delegation discussed growing trade relations with Vladis Dombrovskis, European Commissioner...

The bank's return on assets improved marginally to 1 percent.

Ajman, UAE - Total real estate transactions in Ajman in the first quarter (Q1) of 2023 totaled AED3.4 billion ($930 million).Omar bin Omair Al Muhairi, Director-General of the Department of Land and Real Estate Regulation in Ajman, said that the number of real estate transactions in Q1 2023 amounted to...

The bank's operating profit rose by 35.7 percent compared with Q1 2022.

Boeing's loss in the first quarter of 2022 was $1.2 billion.

The International Energy Agency (IEA) said the rapid electrification of road transportation will have big implications for the energy industry as it will eliminate the need for five million barrels of oil per day by the end of the decade. World oil consumption averages just over 100 million barrels per day.

The UK's Competition and Markets Authority prevented the deal "over concerns... (it) would alter the future of the fast-growing cloud gaming market, leading to reduced innovation and less choice for UK gamers over the years to come", the CMA said in a final decision on its long-running probe.

Aviation emissions in Europe were on an upward curve of around five percent per year between 2013 and 2019, dropping off after that only because of travel curbs under the coronavirus pandemic. Those curbs are now largely lifted, and aviation traffic is bouncing back.

The funds will be used in laying subsea cables between UK and Morocco.

Revenue dropped more than three percent to $8.74 billion.