Abu Dhabi, UAE-- UAE President Sheikh Mohamed bin Zayed and Nigerian President Bola Ahmed Tinubu discussed opportunities for further bilateral collaboration in areas that serve both countries’ sustainable economic growth, including the economic, development, energy, and climate action fields in a meeting in Abu Dhabi.Sheikh Mohamed expressed his hope that...

Pact was signed on the sidelines of G20 Summit in New Delhi.

TEHRAN, IRAN - The US Bureau of Statistics in its latest report said the trade between Iran and the United States in the first seven months of 2023 registered a 26 percent growth compared to the same period last year.The two countries traded over $31 million worth of non-oil products...

Riyadh, Saudi Arabia -- Saudi Arabia’s Industrial Production Index (IPI) fell for the third month in a row, declining by 9.8 percent year-on-year (YoY) in July.Data issued by the General Authority for Statistics (GASTAT) showed that Saudi IPI retreated to 122.03 points in July, according to the base year 2010, compared...

Tehran, Iran--Iran’s oil exports to China hit an all-time record in August despite continued US pressure on the country, according to data from a major international energy data company.The Sunday report by Fars news agency said Iran’s oil exports to China had reached an average of 1.5 million barrels per...

The International Federation for Red Cross and Red Crescent Societies has warned that the next 24 to 48 hours will be critical for saving lives as the death toll keeps rising. At the same time, global aid and support has begun to pour into Morocco, led by the UAE, Qatar,...

Manama, Bahrain--GCC Secretary-General Jassim Al-Budaiwi has emphasized the crucial role of the private sector in ensuring a sustainable and resilient Gulf economy. Al-Budaiwi made these remarks during his speech at the 62nd meeting of the Board of Directors of the Gulf Chambers, hosted by Bahrain.The meeting was chaired by Hassan...

Kuwait City - Kuwait has announced a comprehensive economic reform plan for 2023-2027 to address various challenges facing the country’s economy, including the need for diversification and improved performance.The Kuwaiti government has presented an ambitious program for the legislative term of 2023-2027, titled "Correcting the Path: A Productive Economy and...

NEW DELHI, INDIA – The Chief General Manager of the Reserve Bank of India's Department of Payment and Settlement Systems, said that the country is looking forward to more meaningful cooperation with the UAE in the field of digital payments.Speaking to the Emirates News Agency (WAM) on the sidelines of...

JEDDAH, SAUDI ARABIA - The Board of Executive Directors (BED) of the Islamic Development Bank (IsDB) approved to finance projects worth US$800 million for improving the living conditions of the people in member countries and attaining Sustainable Development Goals (SDGs).IsDB President Dr. Mohammed Al-Jasser said that the projects were approved...

Annual inflation in Egypt hit 39.7 percent in August, official figures showed, an all-time high for the country as it grapples with a punishing economic crisis. It comes after an unrelenting economic crisis that has seen the currency shed half its value against the US dollar since early last year.

More bad news for the wind energy sector, which is at the heart of the UK's plan to become a net zero carbon emitter by 2050, arrived this week when the government's auction of permits to build offshore wind farms failed due to a lack of takers. Russia's invasion of...

New Delhi, India-- Appealing to G20 members to lead by example in delivering on the promise of US$100 billion per year for climate finance, International Monetary Fund (IMF) Managing Director Kristalina Georgieva has underscored the need for cohesive effort to prevent grave risks to economic well-being and macro-financial stability from...

Doha, Qatar--The Qatar Financial Centre Authority (QFCA), Qatar Stock Exchange and Malaysian Rating Corporation Berhad (MARC) have entered into a memorandum of collaboration (MoC) to pursue a range of strategic initiatives aimed at advancing the financial landscape with a specific emphasis on bonds and Sukuk The scope of the collaboration...

Led by staples other than rice and sugar, the Food and Agriculture Organization of the United Nations revealed that its Food Price Index, which tracks monthly changes in the international prices of globally-traded food commodities, averaged 121.4 points in August, down 2.1% from July and as much as 24% below...

Following the devastating earthquake in Morocco on Saturday that killed more than 1,000 people so far, the UAE, Iran, Iraq, Jordan, Algeria and Israel along with several other countries offered condolences, support, and assistance. UAE President Sheikh Mohamed bin Zayed Al-Nahyan emphasized solidarity with Morocco and ordered critical relief delivery.

NEW DELHI, INDIA - UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met to discuss the Comprehensive Strategic Partnership and Comprehensive Economic Partnership between the two countries. The two leaders also discussed sustainable development and strengthening ties between the countries and their people. The...

AMMAN, JORDAN - Chairman of the Amman Chamber of Commerce (ACC) Khalil Haj Tawfiq said the Jordanian Economic Forum with some countries of Association of Southeast Asian Nations (ASEAN) will be held in March 2024. In a statement on Saturday, he said the agreement to set a date for the...

Major G20 partners are set to unveil ambitious plans on Saturday to enhance trade among India, the Middle East, and Europe. This modern-day Spice Route aims to integrate regions that represent about a third of the global economy. Washington, Saudi Arabia, the EU, the UAE, and other nations plan to...

Tehran, Iran--Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to the Islamic Republic of Iran, the bank announced on Thursday.The service is available to both individuals and businesses using their Sber accounts, according to the bank.  “The money transfer service to Iran...

TEHRAN, IRAN - Foreign companies and governments committed some US$6.7 billion worth of investments during an exhibition that was held in early May here, Iran’s deputy foreign minister for economic diplomacy affairs said.  Mehdi Safari said on Thursday that Iran seeks to break new records in foreign investment attraction and even...

Rice is a major world food staple and prices on international markets have soared in the wake of the Covid pandemic, the war in Ukraine and the impact of the El Nino weather phenomenon on production levels. India announced in July a ban on exports of non-basmati white rice, which account for...

RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Economic Trade Organization (IETO) have signed a Memorandum of Understanding (MoU) to strengthen trade and investment ties between the UAE and India. The MoU was signed by RAKEZ Chief Commercial Officer Anas Hijjawi and IETO President...

The comments from three regional Fed presidents with a vote on setting interest rates will likely solidify expectations that the US central bank intends to hold rates steady later this month amid growing signs of weaker labor market conditions. The Fed has raised its benchmark lending rate 11 times over...

It accuses Google of breaching competition law by shutting out mobile search competition and using its market dominance to increase the prices paid by advertisers for their prominence on the Google search page.

The comments from Jay Shambaugh, the Treasury's under secretary for international affairs, underscore the Biden administration's push for the IMF and World Bank to play a greater role in financing climate change adaptation and mitigation.

inance Minister Mehmet Simsek told reporters he would then travel to New York and European economic powerhouses Germany and Britain to meet with dozens of top chief executives. "There will not be an investor that we are not in dialogue with," Simsek said.

The aim is to speed up clean energy transition in Africa.

Abu Dhabi, UAE--ADNOC Gas today announced an agreement valued between $450 million and $550 million to supply Liquefied Natural Gas (LNG) to PetroChina International Company Limited (PCI), a subsidiary of PetroChina Company Limited, one of the leading oil and gas producers and distributors in China.This agreement underscores ADNOC Gas’ growing...

Riyadh, Saudi Arabia -- Saudi Arabia’s real GDP grew by 1.2 percent in the second quarter of 2023, compared to Q2 of 2022, according to Kingdom's General Authority for Statistics (GASTAT).A GASTAT report showed a 6.1 percent increase in non-oil activities over 2022, a 2.3 percent increase in government activities...

It is expected to speed up the use of yuan in trade.

Ankara, Turkey - Turkiye and European Union (EU) on Wednesday discussed the resumption of talks to modernize the customs union agreement between Ankara and Brussels.Turkish Trade Minister Omer Bolat said that his country, alongside the EU, was determined to enhance cooperation in the field of trade and economy.Following his meeting...

Beijing, China--China's exports and imports sank again in August, data showed Thursday, as the world's second-largest economy struggles with sluggish global demand and a wider slowdown.However, the pace of contraction slowed from the previous month and not as bad as feared.Overseas shipments sank 8.8 percent on-year, the customs authority said, compared...

The UN's education body UNESCO warned that public authorities were not ready to deal with the ethical issues of rolling out "generative" Artificial Intelligence programs in schools. The Paris-based body said relying on such programs rather than human teachers could affect a child's emotional well-being and leave them vulnerable to...

Riyadh, Saudi Arabia-- Saudi Arabia's economy is in a state of prosperity and growth, and that the kingdom's fiscal position is strong, primarily driven by Vision 2030 which has been steadily diversifying the economy since its launch in 2016, according to the International Monetary Fund.  The IMF said in a statement that...

The Asian Development Bank survey found that rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity of banks to deliver trade financing. But at the same time, rebounding strongly after the COVID-19 pandemic, global goods exports grew in 2021 and 2022 at 26.6% and 11.5%, respectively.

Dubai, UAE - Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that Indian investors topped the list of nationalities behind new companies joining the chamber during the first half of 2023.A total of 6,717 new Indian-owned companies signed up for...

According to an ADNOC statement, the project will be able to capture up to 1.5 million tonnes of CO2 a year, tripling ADNOC's carbon capture capacity. No cost or timeline was announced for the venture, which will be built and operated by ADNOC subsidiary ADNOC Gas.

Cairo, Egypt-- Vowing to expand their relations to cultural, educational, environmental, and energy fields, Arab states and Japan have expressed satisfaction with the level of cooperation between the two.Dr. Abdullatif bin Rashid Al-Zayani, Minister of Foreign Affairs of Bahrain, participated in the third session of the Arab-Japan Political Dialogue chaired...

Doha, Qatar--Qatar's non-energy private sector witnessed strong expansion in August on the back of new orders in the manufacturing and financial services, according to the Qatar Financial Centre (QFC).The expansion rate was the third strongest so far in this year, according to the QFC's latest purchasing managers’ index (PMI) survey,...

Doha, Qatar--Sustained investment in healthcare infrastructure in Qatar has seen a rapid transformation in the sector as promotion of health and prevention against diseases are set to yield long-term growth for health care sector in the country.A new study issued by Investment Promotion Agency of Qatar (IPA Qatar) indicated that...

Speaking at a landmark climate summit hosted by Kenya, Sultan Al Jaber, who heads the government-owned renewable energy firm Masdar, the UAE's national oil company ADNOC and the COP28 climate talks, said the money will jump-start a pipeline of bankable clean energy projects in this very important continent.

Riyadh, Saudi Arabia-- The gaming industry has witnessed exponential growth in Saudi Arabia with an average revenue per paying user touching $270 as compared to $181 in MENA. With the game live streaming market poised to an annual growth rate (CAGR 2023-2027) of 10.08% in Saudi Arabia, esports is gaining...

The liquidity agreement is for Meeza's listed shares on QSE.

According to the research published by Ember, an energy thinktank that pushes for renewable power, per capita G20 coal emissions rose nine percent. In July, the group failed in talks to agree that global emissions should peak by 2025 or to massively ramp up renewable energy use.

The growth may increase to 4% in 2024. Arab Monetary Fund Director-General Dr. Abdul Rahman bin Abdullah Al Humaidi stressed on the need for Arab governments to accelerate their efforts to achieve digital transformation and shift towards a knowledge-based economy.

Tehran, Iran-- Iran's President Ebrahim Raisi expects cooperation between his country and Turkey to grow during the "new term" of Turkey's President, Recep Tayyip Erdogan.The president made the remarks during a meeting with with the visiting Turkish foreign minister and his accompanying delegation in Tehran on Sunday.Referring to the cultural...

The clashes broke out after pro-Ankara rebels tried to infiltrate Kurdish-held northeast Syria, killing 23 people, a war monitor said. The spike in violence comes amid days of separate clashes in Kurdish-held parts of neighboring Deir Ezzor province after US-backed, Kurdish-led fighters detained the head of a local military body...

Baghdad, Iraq--Iraq has signed an agreement with the International Finance Corporation (IFC) - a member of the World Bank Group - for the development and rehabilitation of Baghdad International Airport.Media Office of the Iraqi Prime Minister stated in a statement that the agreement, which was signed under the sponsorship of...

ABU DHABI, UAE - The global space economy has great potential in terms of economic prospects, with the sector going past the half-a-trillion-dollars mark in 2022, only a few decades after the term “space economy” came into existence.Several studies by specialized global institutions indicate that the global space sector will...