PARIS, FRANCE - A new roadmap to reduce the environmental risks from chemicals and waste was adopted at a United Nations conference on Saturday as part of a drive to manage damaging chemical exposure.The Global Framework on Chemicals was adopted by governments, companies, and NGOs at the fifth International Conference on...

WASHINGTON, US - The International Monetary Fund (IMF) Executive Board approved a Resilience and Sustainability Facility (RSF) for Morocco of about US$1.3 billion.The arrangement will support Morocco’s transition to a greener economy and help strengthen its preparedness and resilience against natural disasters, including from climate change, the Washington-based institution pointed...

WASHINGTON, US - The United States is heading toward a government shutdown this weekend with no foreseeable way out of a deadlock in Congress over hardline Republican calls for deep spending cuts.The new US fiscal year begins on October 1, but sharp disagreements in the Republican Party over the scale of...

According to the company's liquidator, Su Zhu was detained at Singapore's Changi airport while trying to leave the city-state. He was one of the co-founders of collapsed cryptocurrency hedge fund Three Arrows Capital. The company filed for bankruptcy last year when its fortunes suffered a sharp decline after a massive...

Riyadh, Saudi Arabia--Iran has proposed to Saudi Arabia to set up a working group to look into the idea of cancelling visas between the two countries.In this regard, the Iranian deputy tourism minister traveled to Saudi Arabia to proposed the to Saudi Arabia the idea of visa cancellation.A ceremony was...

Riyadh, Saudi Arabia-- The Saudi Fund for Development (SFD) has signed two loan agreements with Seychelles to support the social housing in the country.In this regard, CEO of the Saudi Fund for Development (SFD) Sultan bin Abdulrahman Al-Marshad signed two development loan agreements with Seychelles Minister of Finance, National Planning...

Tripoli, Libya-- Qatar and Libya have signed a memorandum of understanding (MoU) to boost cooperation in the field of civil aviation.In this connection, Qatar's General Civil Aviation Authority (GCAA) held Thursday bilateral talks with Libyan Civil Aviation Authority.Acting President of GCAA Mohamed Faleh Al Hajri chaired the Qatari side in...

DIB felt Turkey is a great investment destination.

WASHINGTON, US - President Joe Biden's administration on Friday announced it would auction three new oil and gas leases in the Gulf of Mexico, triggering a furious reaction from environmental groups who said the move would accelerate climate change.Biden, who faces re-election next year, has repeatedly broken his promise made as...

Bad weather over the past week had prevented those fleeing North Africa to venture the risky Mediterranean crossing. The earlier surge pushed the migration issue once more to the top of the European agenda, with Italy's hard-right government demanding more help from Brussels.

Lack of funding for the school system has precipitated repeated teachers' strikes and school closures, resulting in children being increasingly pulled out of the formal learning system, and in some cases being forced to work. Lebanon's public institutions have been crumbling since the economy collapsed in late 2019, pushing most...

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) on Thursday entered into a Bilateral Currency Swap Agreement between the UAE Dirham (AED) and the Egyptian Pound (EGP).The agreement, signed by Khaled Mohamed Balama, Governor of the Central Bank of the...

The deal will be Aramco's first international investment in LNG.

ABU DHABI, UAE - The financial markets of the United Arab Emirates topped the Arab stock exchanges during last week's trading, according to the Arab Monetary Fund (AMF).The fund, in its weekly bulletin on Arab financial markets, which monitors the performance of 13 exchanges, said that the UAE markets achieved...

Riyadh, Saudi Arabia--Red Sea Global (RSG) will become the exclusive agent for Bear Grylls Survival Academy (BGSA) bringing the world-famous survival and adventure brand to Saudi Arabia.It is the second outdoor tourism project of Grylls’ in the Middle East, who has another outpost in the UAE’s Ras Al Khaimah mountains....

According to financial daily Handelsblatt, production came to a complete standstill in Wolfsburg and at the company's plants in Emden, Osnabrueck and Zwickau. Offices at the Wolfsburg headquarters were also affected, Handelsblatt said.

Tehran, Iran--Iran has exported 27.7 million tons of goods worth $9.1 billion to BRICS member countries from March 21-August 21, 2023).In the first five months of this year of 1402 in the Iranian calendar nearly 37 million tons of goods worth $25.1 billion were exchanged between Iran and current and...

Seoul, South Korea--QatarEnergy has signed US$3.90 billion worth agreement with Korea's HD Hyundai Heavy Industries (HHI) for the construction of 17 ultra-modern LNG carriers.The deal marks the start of the second phase of QatarEnergy's LNG ship acquisition program, which will support its expanding LNG production capacity from the North Field...

Abu Dhabi, UAE--Masdar and PLN Nusantara Power (PLN NP) have signed an agreement to develop Phase II of the successful Cirata floating photovoltaic (FPV) power plant in Indonesia by up to 500MW, in a major expansion to Southeast Asia’s largest FPV plant.The signing ceremony was witnessed by UAE Minister of...

The Biden administration made the decision after Israel in July promised a series of steps to comply with longstanding US demands to treat all US passport holders equally -- without discriminating against Americans who are of Palestinian or other Arab heritage or who are Muslim. Visa-free travel marks "a critical...

With inflation still sitting well above the central bank's target and the labor market showing few signs of softening, decision-makers have warned that more tightening will be needed to achieve their goal. However, while the US economy remains in reasonable health, there is a growing concern that the Fed could...

Xu Jiayin, who is known as Hui Ka Yan in Cantonese, was taken away by authorities earlier this month, according to anonymous sources cited by Bloomberg News. He is being held under "residential surveillance", the report said, which does not mean he has been arrested or charged with a crime.

The former Mastercard chief executive told the Council on Foreign Relations in New York that the bank should alter its current twin mandate of poverty alleviation and boosting shared prosperity to include climate change. Banga's comments in New York come shortly before global leaders are due to gather for the...

The contracts to install traffic systems are worth US$211m.

According to the country's economy minister, around 1.5 million acres of public land -- nearly the size of Kuwait -- have been set aside for green hydrogen and ammonia plants. Morocco is looking to become North Africa's top player in the emerging "green hydrogen" sector, with plans to export the...

Tehran, Iran-- Iran will sign a long-term contract with India to develop Chabahar Port, according to the Islamic republic's minister of roads and urban development.Mehrdad Bazarpash emphasized that a long-term contract for the operationalization of Chabahar Port project with the Indians will be signed in the near future.He made the...

It invested the money to be a big supply chain player.

DUBAI, UAE - The Public Debt Management Office (PDMO) of the Government of Dubai's Department of Finance (DOF) announced a reduction of approximately US$7.8 billion (AED29 billion) in Dubai's public debt by the end of this year.The achievement has been realized within a year and a half since the establishment...

It did not give a timetable for the move or how much it hoped to raise.

S&P analysts anticipate continued growth within the UAE's robust tourism sector. The country's ability to host major international events is expected to play a pivotal role in achieving the UAE's ambitious goal of attracting 40 million visitors by 2030, accompanied by plans to expand the number of hotel rooms to...

Washington last week slapped sanctions on "seven individuals and four entities" based in Iran, China, Russia and Turkey it said had facilitated shipments and financial transactions involving Tehran's military hardware program. The United States accuses Iran of supplying Russia with drones, which have become a major feature of Moscow's war...

New York, US-- The UAE Foreign Minister Sheikh Abdullah bin Zayed has held talks with Subrahmanyam Jaishankar, External Affairs Minister of India, and pledged to further develop cooperation as part of the two countries' strategic partnership.The two ministers met on the sidelines of the 78th Session of the United Nations...

Tehran, Iran-- Iran's exports of agricultural products to the outside world shot up 10% in the first 5 months of this year, the Iranian customs administration reported on Monday,According to a report released by the Islamic Republic of Iran Customs Administration (IRICA) in the first 5 months of this year of...

Abu Dhabi, UAE - The Abu Dhabi Securities Exchange (ADX) signed an agreement with the Expo Center Sharjah to enhance its services for Sharjah’s investor community, local media reports said.The agreement was signed at Expo Centre Sharjah, with Abdulla Salem Al Nuaimi, CEO of ADX, and Saif Mohammed Al Midfa,...

ABU DHABI, UAE –  Director-General and Chairman of the Board of Directors of the Arab Monetary Fund Dr Abdul Rahman Bin Abdullah Al Humaidi said that Arab countries account for about 60 percent of the global Islamic financial industry, which amounted to US$3 trillion by the end of 2021.Al Humaidi...

DOHA, QATAR -  The Ministry of Labor (MoL) launched the "Istamer" digital platform, which deals with employing Qatari retirees wishing to work in the private sector.The unveiling of the Istamer platform is a key component of promoting the National Program for Job Localization in the Private Sector.Its purpose is to...

Evergrande's enormous debt has contributed to the country's deepening property market crisis, raising fears of a global spillover. The property sector, which along with construction accounts for about a quarter of China's gross domestic product, is a key pillar of the country's growth and has experienced a dazzling boom in...

Scholz's government had promised to build 400,000 homes a year to alleviate an endemic housing shortage made worse by burgeoning demand from an inflow of refugees and foreign workers. But building permits have nose-dived 25 percent between January and June compared to a year ago.

Tokyo, Japan-- The UAE and Japan have held discussions to boost partnership in various sectors of the economy even as the first ministerial meeting of the comprehensive strategic partnership took place between the two countries in Tokyo.In this regard, Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology,...

Defending his country's enrichment of uranium to 60 percent purity level, noting that it was a response to European states failing to live up to the 2015 nuclear agreement, Iranian President Ebrahim Raisi has categorically rejected the Western states' claim that Tehran intends to build nuclear weapons, in an interview...

New York, US-- Jordan, Iraq, and Egypt have pledged to cement the partnership between themselves in order to boost cooperation in several economic and political fields.In this connection, Jordanian Deputy Prime Minister, Minister of Foreign Affairs, and Expatriates Ayman Safadi participated in a tripartite meeting with his Iraqi and Egyptian...

The 2023 IMD World Competitiveness Ranking placed the UAE among the world's 10 most competitive economies.

New York, US--Secretary-General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudaiwi, has stressed the importance of strengthening ties with the United Kingdom, including the Free Trade Agreement (FTA), which is an essential element of the strategic partnership and will contribute to achieving common interests.This came during Albudaiwi’s meeting with...

Yinchuan, China--The sixth China-Arab States Expo commenced today in Yinchuan, northwest China's Ningxia Hui Autonomous Region, marking yet another chapter in the ever-expanding economic and trade nexus between China and its Arab counterparts.Spanning a sprawling 40,000 square meters, the Expo boasts an offline exhibition arena with participation from over 1,000...

The massive $4.2-billion dam built by Ethiopia has stoked tensions with Egypt and Sudan as they fear the dam will severely reduce their share of Nile water. Both nations have repeatedly asked Addis Ababa to stop filling it until an agreement has been reached. The talks are expected to pave...

Jakarta, Indonesia-- The UAE and Indonesia have discussed mechanisms to expand regional cooperation and opportunities for trade and investment cooperation between the two countries. In this connection the two countries have reviewed a number of economic and investment issues of common interest in the fields of energy, mining, tourism, real...

YEREVAN, ARMENIA  - Chairman of the Federation of UAE Chambers of Commerce and Industry (FCCI) Abdullah Mohamed Al Mazrouei and the host country’s Minister of Economy Vahan Kerobyan have together inaugurated the UAE-Armenia Business Forum here.The forum saw the signing of four Memorandums of Understanding (MoUs); with three of them...

It expects to fulfill growth plan through the partnerships.

Amman, Jordan-- Jordan and the World Bank have held discussions to enhance cooperation in infrastructure projects and the public-private partnerships.In this connection, Jordanian Minister of Investment Kholoud Al Saqqaf met with World Bank Vice President for Infrastructure Affairs Guangzhe Chen in Amman.During the meeting, Al Saqqaf reviewed a list of...

The Kingdom now ranks 17th in global economic rankings and 17th out of 64 countries for global economic competitiveness.