IMF chief urges countries to strengthen independence of central banks
"Financial stability benefits the whole economy and reduces the risk that the central bank becomes reluctant to raise interest rates for fear of causing a financial meltdown," she added.
WHO unveils $8bn Covid-19 vaccination plan
UN Secretary-General Antonio Guterres has said a reduction of cases in any one country will not be sustained over time without a coordinated, equitable approach. ‘For everyone’s sake, we must urgently bring all countries to a high level of vaccination coverage,’ he said.World Bank sees ‘uneven, tenuous’ Mideast recovery
The region’s per-capita GDP is forecast to grow by only 1.1 percent this year after declining by about 5 percent in 2020.Rise in oil prices gives strength to Gulf markets
The Muscat Stock Exchange closed on Wednesday, up 0.17%, or 6.9 points, from the previous trading session, which amounted to 3,947 points, after Cyclone Shaheen forced its closure.UAE has overcome Covid crisis: Mohammaed bin Zayed
The UAE recorded fewer than 200 new cases of Covid this month, the lowest figure since Aug 2020. While life in the emirates has largely returned to normal, masks and social distancing rules remain in force. Heavily reliant on tourism, Dubai was one of the first destinations to reopen its...Fight against Covid not over yet: WHO
The rate of hospitalization and deaths more among unvaccinated people in the countries that have provided information.Bahrain VAT rate hike may boost sales of UAE retailers
Bahrain plans to double its VAT rate to 10 percent, which is likely to drive its citizens to shop in the neighboring United Arab Emirates.Expert at AVSEC symposium: Need to rethink security approaches
The 5th edition of the AVSEC Global Symposium, which started on Sunday in Dubai, brought together globally recognized security experts, local and international government officials.Saudi Arabia announces vaccine mandate for public
Saudi authorities will require people to have double immunization starting at 6 am on October 10 if they are to go to places.Saudi MSMEs get new three-month payment respite
The Deferred Payment Program was launched on March 14 last year, as Covid-19 was spreading across the world. According to the central bank, it benefited more than 107,000 contracts with a total value of SAR174 billion ($46.4 billion) in deferred payments.Non-oil sector fuels Bahrain economy growth
The results are said to be showing signs of economic recovery of Bahrain.United Airlines fires 593 workers
The employees refused to comply with a requirement to be vaccinated for Covid-19.Syria water crisis spurs spike in disease: MSF
MSF has blamed the ‘acute water crisis’ in recent months on a decrease in funding for water, sanitation and hygiene operations as well as the destruction of water and sanitation infrastructure during a decade of civil war.Kuwait plans customs virtual corridor with Abu Dhabi
The customs departments of Kuwait and Abu Dhabi are planning to form a virtual corridor.Expectations rise for Expo 2020 gains to materialize
A study published said projections for 2019 indicated investments that would generate long-term returns of up to $33.3 billion.Qatar Airways gets $3bn govt assistance after huge loss
The airline reported an overall loss of $4.1 billion for the year to March 31, double the figure for the same period the year before due to the coronavirus travel downturn. Qatar is among several governments that have stepped in to support their national carriers through the coronavirus shutdown, which...Cyber-pandemic quickened UAE digital push
Mohamed Hamad Al Kuwaiti has said the UAE is fully equipped to transition into AI for governance and economy.What are the top ecommerce platforms in the GCC?
Ecommerce in the world in general and the GCC region in particular has proliferated despite the Covid-19 pandemic, or probably because of it.Scientists develop antiviral drugs in pill form to fight COVID-19
Molnupiravir is the top drug being developed by Merck & Co. and Ridgeback Biotherapeutics.UAE, China discuss strategic ties, common concerns
The two countries also reviewed bilateral partnership and cooperation in confronting the Covid-19 pandemic.UAE relaxes mask mandate, but with riders
UAE residents may not wear a face mask in certain places while keeping a safe physical distance of two meters.Dubai expected to record 3.1% economic growth in 2021
Dubai’s economy would grow by a further 3.4 percent in 2022, ‘spurred by the hosting of Expo 2020’.Canada elects PM Trudeau for third term
The 49-year-old Trudeau won the election, but did not get simple majority, which could make things difficult for him, just like they did in 2019. He now stands similarly weakened, with a tough road ahead of him.Covid-19 drives e-learning in GCC
There has been a massive growth in content creation and learners' demand in last two years as the pandemic puts focus the importance of e-learning in the region.Foreigners in Kuwait on commercial visit to get work permit now
The move is aimed at meeting growing demand for manpower by companies in the country. After all, the number of expatriates in Kuwait dropped to 56,300 in the first half of 2021, bringing their total to 3.154 million.Dubai Police to use AI to secure Expo 2020
This would include monitoring visitors for safety from the moment of their arrival to the UAE until they reach the exhibition site.No Covid test to enter Abu Dhabi for UAE residents
The committee will continue to monitor events and urges all citizens, residents and visitors to continue adhering to precautionary measures to protect public health and safety, maintain successes, and advance the nation’s sustainable recovery.Gulf aviation sector maintains regional lead
Several airports in the region have announced plans to expand their airports to meet the expected growth in travel demand.Global economy to grow by 5.3 percent in 2021: UN
But if widening economic gaps between the developed world and the poor countries persists, only a few will enjoy the dividends, said a report by the UN Conference on Trade and Development.Fans to return in small numbers to UAE leg of Indian Premier League
The Board of Control for Cricket in India, in a statement on its website, has confirmed the earlier reports, which now mean that the UAE will earn even more revenue than what it usually generates from the sporting events it hosts.GCC insurance firms battle pandemic woes
It has been a roller coaster ride for insurance companies in the GCC countries and the health care sector since the outbreak of COVID-19 in the region.UAE firm retained as IPL healthcare partner
The Board of Control for Cricket in India has renewed retained VPS Healthcare as its healthcare partner for the Indian Premier League.Aramco Q2 net income $25.5 billion, up by 288 percent
The results driven by higher oil prices and a recovery in worldwide demand, supported by the global easing of COVID-19 restrictions.Egypt gained most from Islamic Development Bank in 2020
IsDB also contributed to Covid-19 relief in 2020, where it approved financing of around $2.3 billion.No quarantine for fully vaccinated foreign travelers visiting Abu Dhabi
Abu Dhabi lifted its quarantine requirement for vaccinated tourists on Thursday as the UAE recorded zero Covid deaths for the first time since November 2020. However, before boarding for Abu Dhabi, all travellers — both vaccinated and unvaccinated – are required to present a negative PCR test result from within...Holy and worldly offerings of Saudi tourism
The Arab world's most powerful economy is devoting enormous resources to attracting at least 100 million tourists by 2030. TRENDSMENA offers a glimpse into the major tourist attractions of the kingdom.Covid-19 fails to impact realty in UAE, Saudi Arabia
While the UAE has seen a record amount of real estate sales in the first six months of 2021, Saudi Arabia has prioritized increasing the supply of housing units and strengthening partnerships with the private sector.Vaccine inequality alarming: UN
The UN leaders released a joint statement in which they condemned what they called the ‘crisis of vaccine inequity,’ among countries.Oman sets terms for top hotels to open event halls
Four and five-star hotels in Oman may open meeting and celebration halls, but must follow certain restrictions.Raisi vows to improve Iran economy, Covid-19 response
The pandemic has hit the worst in the Middle East and it grapples with a fifth and the strongest yet wave of infections amid crippling economic sanctions. The country recorded its highest single day death toll on Aug. 24, with 709 fatalities registered by the Health Ministry in 24 hours.Unemployment will haunt Gulf in 2021
While joblessness will be a worry, the economies of the GCC countries are expected to grow by about 2.5 percent between 2021 and 2023.GCC hotel industry readies for a comeback
The Gulf hotel sector's investments, according to reports, have reached $27 billion. New hotel projects worth $3.5 billion in the region were approved in 2020, indicating that investors expect the hotel market to return to normal in the next two or three years when activities resume at normal level.Biden given inconclusive report on COVID-19 origins
The US president had ordered the assessment to find out whether the virus jumped to humans via animals or escaped a research facility in Wuhan.Oman lifts travel ban on India, Pakistan, Bangladesh
Fully-vaccinated passengers from 21 countries can now travel to Oman, according to a new circular issued by the country’s Civil Aviation Authority, which took the decision by consulting several stakeholders.Expo 2020 promises a productive Q4
The sale of tickets, easing of travel restrictions and positive investment projections point to a surge in economic activity in the run-up to the mega event.Despite economic crisis, Lebanon to reopen schools
Rights groups have decried an “education catastrophe”, with more than a million children in Lebanon out of school since the country’s Covid-19 outbreak began in February last yearADNOC emerging as UAE’s FDI magnet
Besides wooing $74 billion investments, the oil giant has helped the country gain the top position in the Middle East on Kearney's FDI index in 2021 after rising four spots globally.Iran Covid deaths at new daily high as curbs lifted
The ministry said the deaths of 684 people in the past 24 hours brought the total number of fatalities to 102,038Saudi Arabia to create million tourism jobs by 2030
Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations and eyes 100 million tourists by 2030.Meet to discuss Islamic finance’s role in post Covid-19 recovery
The global forum organized by the Islamic Development Bank on Aug. 28 is being held as a side event to the bank’s annual meeting.Saudi Arabia to send oxygen tanks to Tunisia
King Salman bin Abdul-Aziz Al Saud has reportedly directed health authorities to provide medical oxygen and accompanying supplies to Tunisia.