Europe and UK gas prices hit record highs Friday and crude oil rallied, as Ukraine's invasion by key producer Russia continued to stoke supply fears. Europe reference Dutch TTF gas price struck 213.895 euros per megawatt hour in afternoon deals and UK gas hit 508.80 pence per therm. "There is...

Saudi exports to the world are estimated to grow 7.6 percent to $354 billion by 2030, according to Standard Chartered.

UAE authorities have collected AED3.848 billion ($1 billion) in penalties from anti-money laundering and terrorism financing offenders in 2021. The amount comprised asset seizures worth $625m, fines for non-compliance to anti-money laundering and terrorism financing regulations worth $64m, penalties on major financial institutions in the UAE worth $5.3m, tax evasion...

The projects that the SFD contributes to financing through loans and grants in Pakistan amount to around SAR5 billion ($1.33 billion).

Jordan Ministry's Secretary-General Dana Zoubi stressed the deep-rooted relations between Jordan and Germany.

Saudi Arabia’s Crown Prince Mohammed bin Salman has created quite a few ripples with his views on all things important during his first interview to a non-Saudi publication in two years.

Jordan is counting on the World Bank's support to strengthen Jordan's social protection network, increase job opportunities.

In a statement issued Thursday, the AIIB said that "in the best interests of the bank, management has decided that all activities relating to Russia and Belarus are on hold.

Turkish President Recep Tayyip Erdogan appointed Vahit Kirisci as minister of agriculture and forestry after the resignation of Bekir Pakdemirli.

The World Bank has reported that Bahrain’s score improved to 73 percent in women’s economic participation and gender equality from 2018 to 2022. The report was compiled by World Bank Group’s Women, Business and the Law 2022. This report examines laws and regulations that restrict women’s economic inclusion in 190...

The German carrier said it cut its losses by two-thirds in 2021.

The non-oil trade of the UAE has totalled AED16.14 trillion in the last ten years as the country's growth returned to pre-pandemic levels.

The UAE and Latvia have agreed on a six-track economic cooperation program covering trade and investment, innovation and advanced technology, transportation and logistics, agriculture, food, education and science during the 2nd Joint Economic Committee (JEC) session held in Dubai. These programs will be designed to achieve higher levels of prosperous...

The strategy’s objective is to make Dubai one of the safest cities in the world and achieve the zero road deaths vision.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approved on Wednesday the launch of the "Savings Scheme for Foreign Employees in the Government of Dubai" to enhance the end-of-service benefits system. The Scheme will be supervised by the Dubai International...

Traders were given a much-needed shaft of light on Wednesday when the Fed boss eased concerns over its plans for tightening policy.

It is becoming incredibly important for organisations, brands and brand owners to prioritise the refinement of their products and services. This would mean consciously automating processes that are otherwise time consuming in order to boost productivity, Gidwani adds.

The company has already paid $500m in quarterly dividends.

The Central Bank of UAE has approved the creation of 5,000 new jobs by the end of 2026 for Emirati nationals as part of the Emiratization of managerial positions in the banking and insurance sectors. The jobs will be created in coordination with the Emirates Institute for Banking and Financial...

The ‘Dubai-Israel: Future Horizons Mission’ was hosted by the Dubai International Chamber, which is one of the three chambers operating under the restructured Dubai Chambers. It was organized by Dubai International Chamber, the UAE Embassy in Israel, and the Tel Aviv Stock Exchange.

The IMF and the World Bank have promised to provide financial support to Ukraine, saying that they are saddened by the devastating human and economic toll brought on by the Russian invasion.

The objective of the new aid provided by World Bank is to "protect vulnerable Afghans and help preserve human capital and key economic and social services."

It has offices in Moscow and St Petersburg with 1,000 employees.

The emergence of the new government once again gives Libya two prime ministers, as was the case between unrest-plagued 2014 and 2020.

In an exclusive interview, Tel Aviv Stock Exchange CEO Ittai Ben-Zeev speaks on his strategy to attract investors from the Arab world, especially the UAE and the GCC.

The tourism ministry will treat Arab tourists as Jordanians to spur tourism.

Brent crude broke above $110 a barrel on Wednesday and WTI was up more than five percent as Russia's invasion of Ukraine continued to fan fears over supplies of the crucial commodity from the resource-rich region. Russia is the world's third-biggest oil producer.

The UAE's Department of Municipalities and Transport (DMT) said that service fees for real estate units’ owners and investors in development projects were reduced by 26.4 percent during 2020 and 2021. In 2020, the service charges were reduced by 18.1 percent, with another 8.3 percent reduction introduced in 2021. The...

Qatar Airways has secured an injunction preventing Airbus from cancelling deals for other jets as the two are involved in a legal battle.

Despite the global closures and economic crisis, the tourism sector in the Gulf region fared well in 2021 due to several factors such as the easing of restrictions and government support.

Diversifying, and strengthening local production structures is the most appropriate way to reduce inflation. Entrepreneurs and start-up companies may come forward to help their respective governments in finding more sustainable development solutions. The menace of inflation cannot be managed alone.

The squeeze on real incomes within the region due to higher inflation may depress regional trade flows. The situation may worsen further if the global central banks' attempts to control rising consumer prices, which will ultimately dampen global economic activity.

Investing in inflation-protected bonds and gold may provide some hedge against consumer price rise. Putting money into the real estate sector is also a safe bet, believe some regional experts.

The announcement of the expulsion came on the last day of Russia's presidency of the UN Security Council and it ceded the presidential seat to UAE on Tuesday.

Central bank action and risks to financial stability must be carefully monitored and managed as loose monetary policy is unwound. A sudden rise could cause a shock to the Gulf economies leading to a recession.

The main reason for high inflation rates in the GCC is a rebound in prices in the sectors that were hit the hardest during the Covid-19 crisis. The global energy prices are also exerting significant pressure on the region.

GCC countries, like other nations across the world, are exposed to many economic challenges and risks such as higher prices of basic goods and services, introduction of new taxes, etc.

During the past four years, the kingdom has created 555,000 new jobs as part of its plan to develop $1 trillion worth of new projects to meet its Vision 2030 goal.

Feras Bin Ghassab Al-Harbi has held several leadership positions.

The Federation of Bangladesh Chambers of Commerce and Industries, or FBCCI, will launch a UAE-Bangladesh Business Council next month to boost trade in the Middle East region.

Bahrain's Minister said the private sector plays a key role in strengthening bilateral relations, as it boosts the volume of trade exchanges.

Emirates Global Aluminium, or EGA, has posted a 1,140 percent jump in net profit to $1.5 billion for 2021.

Dubai Electricity and Water Authority (DEWA) has said it completed all short-term goals of its Smart Grid Strategy 2014-2035 as, between 2015 and 2020, it replaced all electricity and water meters with smart meters, a deployment of over two million smart meters. By automating meter readings, DEWA customers can manage...

Metals tycoon Oleg Deripaska from Russia has called for peace talks over Ukraine crisis "as soon as possible" between Russia and Ukraine.

The new initiatives are expected to support environmental and water sustainability in accordance with the Saudi Vision 2030.

Oil prices and safe havens surged Monday while the ruble plunged after world powers imposed fresh sanctions on Russia over its invasion of Ukraine.

According to a Jordanian Trade Ministry statement, the two countries discussed preparations for holding the 17th session of the Joint Commercial Committee meetings.

WTI rose 6.27 percent to $97.33, while Brent crude was up 5.24 percent at $103.06.

The total green sukuk market is worth more than US$15 billion, according to Refitiniv, with the Islamic Development Bank (IsDB) being the first in the market with a US$ 2.5 bn offering. However, figures show that Sustainability and green-themed Sukuk were rising in 2021, mainly since large entities are investing...

Dubai Maritime City (DMC), DP World’s purpose-built maritime hub, announced the launch of a major project worth AED140 million ($38.1 million) to develop its infrastructure.