Budapest, Hungary--Senior officials from the UAE and Hungary met in Budapest on 22nd August for the inaugural round of the Political Consultations Committee between the UAE’s Ministry of Foreign Affairs and Hungary’s Ministry of Foreign Affairs and Trade.The UAE delegation was led by Ambassador Lana Zaki Nusseibeh, Assistant Minister of...

It comes as EU rules on tech platforms enter into force.

The US Federal Reserve is prepared to raise interest rates higher - and hold them there - to bring down above-target inflation, chairman Jerome Powell said. "We are prepared to raise rates …. until we are confident that inflation is moving sustainably down toward our objective," he told the Jackson...

The builder has accumulated debts of more than $150bn.

Beirut, Lebanon -- Acting Lebanese Central Bank Governor Wassim Mansouri has said the bank will not be providing government lending to cover Lebanon's 2023 state budget deficit. This applies to both the Lebanese lira and the US dollar."The Central Bank has no plans to address the nation's deficit through government...

ABU DHABI, UAE - Borouge's Chief Operating Officer Dr. Hasan Karam has said the fifth polypropylene unit (PP5) played a significant role in H1 2023, contributing US$209 million (AED767 million) representing 22 percent of the company's propylene sales and 10 percent of our overall turnover.In a statement to the Emirates...

RIYADH, SAUDI ARABIA - As the world grapples with the economic aftermath of the COVID-19 pandemic, Middle Eastern countries, particularly Saudi Arabia and the UAE, have showcased resilience with their currencies holding firm against the US dollar.According to recent data, the Saudi Riyal (SAR) and the UAE Dirham (AED) have...

DUBAI, UAE - Dubai Chambers has contributed to the emirate’s drive for sustainability by saving a total of 72,239 litres of water between June 2022 and June 2023, equivalent to 3,822 five-gallon bottles.The savings were achieved as part of the chambers’ participation in ‘Dubai Can’, a sustainability initiative launched by...

Athens, Greece--Hundreds of firefighters in Greece struggled Thursday to gain the upper hand against major wildfires burning unchecked for a sixth day, leaving 20 dead.A dangerous blaze continued to burn on Mount Parnitha near Athens, in the largest forest adjoining the capital, threatening a national park for a second day.Fire department...

Riyadh, Saudi Arabia--GCC Secretary General Jasem Albudaiwi has emphasized the importance of Gulf-US strategic relations that support joint cooperation and coordination across all fields.In a statement today, he highlighted the outcome of the joint meeting which was held last June between the GCC foreign ministers and the USA.The GCC chief...

Cairo, Egypt--Egypt's unemployment rate fell slightly by 0.1 percent to 7 percent in the second quarter of 2023, according to the country's statistics agency CAPMAS report on Tuesday.More than two million Egyptians were without a job, including 1.2 million men and 941,000 women, the data revealed, adding that 61.8 percent...

The investment bank bought a 35% stake in Kuwaiti firm.

The airline's annual profit climbs up to US$1.1 billion.

The fast-food chain has some 37,000 outlets across the world.

Cairo, Egypt--Shipping traffic was flowing normally on Egypt's Suez Canal on Wednesday, two shipping sources based in the country said, after two tankers that collided earlier were separated.The two tankers, the Singapore-flagged liquefied natural gas (LNG) carrier BW Lesmes and the Cayman Islands-flagged oil products tanker Burri, briefly collided in...

Riyadh, Saudi Arabia--The Saudi Esports Federation will launch the "Next World Forum" on August 30 and 31 in Riyadh, at the conclusion of the activities of the largest event for games and electronic sports in the world, "Gamers8: The Land of Heroes."The forum will discuss promising opportunities in the fast-growing...

The foreign minister's visit is also intended to pave way for Turkish President's trip to Baghdad for which a date is yet to be finalized. The issue of water and dams on the Tigris and Euphrates rivers, both of which have their sources in Turkey before entering Iraq, is a...

The gains, including a jump in US tech stocks, "looked more like a correction than a reaction to fresh news, as there was no fresh news that went against the slowing China rhetoric" or indication of a possible shift in policy by US monetary policymakers, said Swissquote Bank analyst Ipek...

RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) reported a remarkable surge in the registration of holding companies since introducing this company structure in 2020.The consistent rise in registrations highlights the growing appeal of this innovative investment vehicle, as the total number of holding companies rose by...

Kuwait City, Kuwait-- Kuwait is looking to strengthen cooperation with the World Health Organization in all health services, according to the oil-rich country's Health Minister Dr. Ahmed Al-Awadhi.According to Kuwait News Agency, the minister met with Dr. Hanan Balkhy, assistant director for antimicrobial resistance at the WHO, to discuss numerous...

Surpassing pre-pandemic levels, more than 40 million passenger visits were recorded at Dubai international airport in the first half of the year, a 50 percent jump. According to its operator, the airport, busiest for international passengers before Covid-19, the passenger traffic went well past the number recorded in the first...

Nairobi, Kenya--African Civil Aviation Commission (AFCAC) and Qatar have signed a partnership agreement to strengthen cooperation in the aviation field.This came during the activities of the 8th Africa and Indian Ocean (AFI) Aviation Week, organized by the AFCAC in cooperation with the International Civil Aviation Organization (ICAO) in Nairobi, Kenya,...

Abu Dhabi, UAE--UAE stocks generated strong cash flows on Monday as the International Holding Company (IHC) maintained robust performance and closed at AED400.6, following more than $59.14 million worth of transactions.Multiply Group gained $43.75 million in liquidity, closing high at AED3.670. Emirates Insurance Company (EIC) was the best performer and...

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) has revealed that its total foreign assets increased to $161.22 billion at the end of June, from $160.70 billion in May.The UAE's current account balances and deposits with banks abroad amounted to $99 billion by the end of June,...

Beirut, Lebanon - Hundreds of demonstrators took to the streets again on Monday in Syria's southern city of Sweida, local media and an activist reported, as dire living conditions stoke discontent in regime-held areas.Days of rare protests have erupted in the south after the government lifted fuel subsidies last week, dealing...

It claimed $600,000 prize at Gamers8 - The Land of Heroes.

The liquid enhances efficiency of energy storage systems.

European stocks rebounded but Asian markets ended mixed after a Chinese rate cut failed to reassure investors. At midday, Paris stocks were up by more than one percent, with both Frankfurt and London also pushing higher. Market sentiment has taken a hammering this month by a string of weak data...

ABU DHABI, UAE - The Abu Dhabi Chamber of Commerce and Industry has signed a Memorandum of Understanding with the Ethiopian Investment Commission (EIC) to foster the robust economic collaboration between the two sides.The MoU also aims to establish a framework for cooperation that advances trade, investment and economic relationships...

Cairo, Egypt-- Arab Parliament on Monday endorsed the call for victims of terrorism in the Arab world to be supported "financially and economically" to overcome tragedies. The parliament said that those affected by the evil claws of terrorism in the Arab world must be supported to overcome their tragedies.The call...

The measures, which run counter to rising interest rates around the world as other major economies work to curb inflation, will indirectly support economic activity as China's growth flags. The long-awaited post-Covid recovery following the lifting of health restrictions at the end of 2022 has run out of steam in...

Cypriot authorities say there has been a rise in the number of migrants arriving by boat this year, with a 60 per cent increase recorded in the first five months. Most irregular migrants arriving by sea board boats in the Syrian port of Tartus, and these vessels are usually detected...

Amman, Jordan--Jordanian security forces have scuttled an attempt to smuggle narcotics from Syrian territories to Jordan.According to the Jordan News Agency, Petra, the border guards, in coordination with the Anti-Narcotics Department and other military apparatuses, thwarted an attempt by a group of smugglers who tried to cross the Syrian-Jordanian border.The...

Latakia, Syria--The Emirates Red Crescent (ERC) has inaugurated the Al Naqa housing project in the Latakia Governorate in Syria.The ERC announced in April the construction of 1,000 prefabricated housing units in seven areas in the Latakia Governorate worth $18 million to assist Syrian families affected by the earthquake that hit...

Tehran, Iran--Iran-China bilateral relations and the 25-year strategic cooperation program between the two countries are moving forward in the right direction, according to the Iranian Foreign Minister Hossein Amir-Abdollahian.In a telephone conversation between the foreign ministers of the Islamic Republic of Iran and the People's Republic of China, the latest...

Libya's central bank announced that its two rival branches in the west and east are reuniting after nearly a decade apart. The North African country is currently split between Abdelhamid Dbeibah's UN-backed government in the west and another in the east backed by military strongman Khalifa Haftar.

RIYADH, SAUDI ARABIA -  The National Development Fund (NDF) on Sunday said it will contribute US$453 million (SAR1.7 billion) to the US$2.2 billion (SAR8.3 billion), 2.6 GW Al Shuaibah solar project that is to be carried out by the National Infrastructure Fund (under establishment).This is one of the world’s largest...

Since the beginning of August, European-style bakeries selling baguettes in the formerly French-ruled country had been prevented from accessing their quota of subsidized flour, after President Kais Saied said there should be "one type of bread for all Tunisians".

BUDAPEST, HUNGARY – Hungarian Prime Minister Viktor Orban said that companies from his country plan to expand their activities in Russia despite sanctions and political difficulties.Orban made the statement at a meeting with the head of Russia’s Tatarstan region Rustam Minnikhanov in Budapest, TASS news agency reported."It has been noted...

Jakarta, Indonesia--Indonesian President Joko Widodo departed for South Africa on Sunday to attend the BRICS summit in Johannesburg amid speculation that the country could join the group as its latest member.The meeting, which brings together major emerging economies countries led by Brazil, Russia, India, China, and South Africa, will be held...

Tehran, Iran-- China's ambassador to Iran has affirmed that his country's cooperation with Iran is at its best in various fields, voicing hope that both sides will further improve ties.Chang Hua made the remarks in a Saturday meeting with the governor of the northwestern Iranian province of West Azarbaijan Mohammad...

Astana, Kazakhstan-- Saudi Arabia and Kazakhstan have pledged to strengthen cooperation in the fields environment, water, and agriculture.The strengthening of ties in these sectors came up in a meeting between President of Kazakhstan Kassym-Jomart Tokayev and Saudi Arabia's Minister of Environment, Water and Agriculture Abdulrahman bin Abdulmohsen Al-Fadhli.Both affirmed the...

ADDIS ABABA, ETHIOPIA - UAE Ambassador to the Federal Democratic Republic of Ethiopia Mohammed Salem Al Rashidi said that the historical relations between the two countries have witnessed remarkable progress over the past few years.This reflects the distinguished friendship between the leaderships of the two countries, and the exchange of...

The monarch is credited with effectively maintaining stability in a volatile region -- in part through suppressing criticism -- as well as modernising the economy and pursuing assertive diplomacy. But his efforts have fallen short in addressing the profound inequalities that continue to plague Moroccan society.

Dubai, UAE--Oil prices jumped about 1% on Friday on signs of slowing U.S. output, but both crude benchmarks also ended their longest weekly rally of 2023 on mounting concerns about global demand growth.West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.1%, to settle at $81.25 a barrel, and...

Abu Dhabi, UAE-- As the UAE President Sheikh Mohamed bin Zayed visits Ethiopia to strengthen relations with the African country, the non-oil trade between the two nations has expanded to US$1.4 billion in 2022.According to Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, the UAE’s has...

Riyadh, Saudi Arabia--The Communications, Space and Technology Commission (CST) has urged the public to provide their views on its space use plan for frequency spectrum, aiming at enabling space radio services, studying the most critical trends and needs of manufacturers, operators and users.Besides it will ensure optimal use of frequency...

The two leaders met in Addis Ababa and held talks on various aspects of bilateral relations, in addition to broader regional and international issues of mutual interest. The focus of the discussion was boosting areas of cooperation, including economic, investment, and development ties, across all sectors to increase prosperity of...

Evergrande, once China's top property developer, was found in 2021 to be struggling with more than $300 billion in liabilities, as it came under intense pressure after officials tightened scrutiny of the real estate industry. The company's woes have come to symbolize the growing crisis in China's sprawling property sector,...

Expectations of another Fed hike have pushed 10-year Treasury yields -- a gauge of future rates -- close to their highest levels since the global financial crisis. Data on Thursday did little to dissuade investors, with unemployment benefit applications falling the most since last month, indicating the labour market remains...