As inflation averages 171% in 2022, one of the highest rates worldwide, people prefer to fix old items such as shoes than buy new ones.

They discussed "reinforcing cooperation between the two countries in various sectors... in addition to joint efforts to fight back against terrorism", a statement from Assad's office said.

NEW YORK, US – In the last three years, poverty rates in low-and lower-middle-income countries have surged, with the number of additional individuals living on less than $3.65-a-day reaching 165 million by 2023, said a United Nations Development Program (UNDP) in a new policy brief.According to the policy brief ‘The...

Morocco has sought to diversify its energy sources particularly since neighbouring Algeria stopped supplying natural gas via the GME in November 2021, after severing ties over the disputed Western Sahara territory. According to ONEE chief Abderrahim El Hafidi, the agreement with Shell will "address part of our needs and ensure...

Bees thrive in temperatures of around 30-35 degrees Celsius, not in searing heat, when the thermometer climbs to 50, said Aliawi, the manager of a private honey producer. The country has been plagued by scorching summers, declining rainfall and frequent sand storms, while upstream dams have reduced the flow of...

Doha, Qatar - The Consumer Price Index (CPI) in Qatar reached 105.71 points, showing a decrease of 0.10 percent when compared to CPI of May 2023, according to the Planning and Statistics Authority. Similarly, an increase of 2.49 percent was recorded in the general index (CPI) of this month, when compared...

Dubai, UAE - Six years after imposing a comprehensive blockade on Qatar, Saudi Arabia, the United Arab Emirates (UAE), and Bahrain have nearly restored ties with the country. However, underlying tensions persist, as changing dynamics in the Middle East drive competing foreign policy priorities. These unresolved issues have the potential...

Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) and the Reserve Bank of India (RBI) on Saturday signed two Memoranda of Understanding (MoUs), which aim to support the rapid growth of trade between the two countries. The CBUAE and RBI will work together to develop a framework...

Talk merger of shareholdings in Borouge, Borealis.

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE)’s Financial Stability Report for 2022 said the FTSE ADX General Index (FADGI.FGI) gained more than 20 percent in 2022.The Abu Dhabi Securities Exchange (ADX) trading value increased by 21.9 percent to AED 451 billion ($122.78bn).In its overview of UAE...

The Black Sea grain deal was first signed in July 2022, five months after the Russian invasion of Ukraine, and has already been renewed two times. This time however, Putin has repeatedly threatened not to renew it because of obstacles to Russia's own exports. The deal, which Erdogan helped broker,...

Hundreds of migrants fled or were forced out of Tunisia's second-largest city after racial tensions flared following the July 3 killing of a Tunisian man in an altercation between locals and migrants. The port of Sfax is a departure point for many migrants from impoverished and violence-torn countries seeking a...

Results of large US banks released underscored the boon from higher interest rates, as executives described the world's biggest economy as "resilient" but facing risks. JPMorgan Chase, Citi and Wells Fargo all enjoyed the benefits of being able to charge higher rates on loans, while not suffering much from elevated...

Beijing, China - China's trade in goods with nations along the Belt and Road Initiative in the first half of 2023 increased by 9.8 percent year-on-year, exceeding the nation's total trade growth for the same period by 7.7 percentage points, Chinese news agency Xinhua said.According to data released by the...

Dubai, UAE--The UAE and Mozambique have signed a memorandum of understanding (MoU) in the field of workforce to improve the management of the contractual work cycle for Mozambican workers in the UAE.The MoU was signed by Dr. Abdulrahman Al Awar, Minister of Human Resources and Emiratisation (MoHRE), and Margarida Adamugy...

Dubai, UAE-- Officials from Dubai Customs and Japan's consulate have discussed ways to boost trade cooperation between the two countries in a meeting in Dubai.The officials from the consulate expressed appreciation for Dubai Customs and its role in collaborating with international customs authorities and organizations to combat drug smuggling across...

Doha, Qatar -  Qatar Tourism said on Thursday that the country received more than two million visitors during the first half of 2023. According to a Qatar Tourism statement issued on Thursday, international arrivals in 2023 have so far doubled compared to the levels seen pre-pandemic. The arrivals by air in...

Amid reports of a mass grave having been found in the country's Darfur region, the African leaders summit exhorted an end to the fighting in Sudan. The ICC meanwhile said it has begun a new probe into alleged war crimes in the country, adding that the spiraling violence was a...

Abu Dhabi, UAE-- The Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has reviewed progress of the projects undertaken by the government in the emirate.The crown prince in this connection chaired a meeting of the council in...

The two countries resolved to finalize a deal over Ethiopia's big dam on the Blue Nile in four months, a breakthrough after years of bickering between the two countries. The huge $4.2 billion dam has been at the heart of a regional dispute since Ethiopia broke ground on the project...

The decision to prolong oil output cuts may herald a significant reversal for the Kingdom's fast-growing economy as oil remain a key source for its revenue, say experts.

Customs spokesman Lyu Daliang also pointed to outside forces having a "direct impact" on Chinese trade, with Beijing engaged in a long-running stand-off with the United States on a number of issues including trade and technology.

Abu Dhabi, UAE--The Securities and Commodities Authority (SCA) has signed a memorandum of understanding (MoU) with the UAE Banks Federation (UBF) to foster mutual cooperation in developing the financial sector.The aim is to establish the UAE as a major attraction for asset and wealth management in line with the government’s...

Manama, Bahrain--Bahrain has climbed up to ninth position in the top destinations in the world for expatriates, according to report published by global expat network InterNations.The country gained the higher position out of all the countries in the Middle East thanks to the ease of getting a visa, dealing with...

Amman, Jordan-- Jordan and Japan have discussed ways to boost economic cooperation and further strengthen strategic ties between the two countries.In this regard, Jordan's ministers of trade and international cooperation met on Wednesday in Amman with the Japanese minister of state for economy and industry for talks on economic cooperation...

Riyadh, Saudi Arabia-- Seeking to establish a broad framework for cooperation in several areas, the GCC and the Arab Planning Institute (API) have signed a a memorandum of understanding (MoU).The MoU was signed during a meeting between Jassem Mohamed Albudaiwi, GCC Secretary General of the Gulf Cooperation Council (GCC), and...

London, United Kingdom - World stock markets mostly rose Wednesday as investors jockeyed for position before key US inflation data.London equities climbed after the Bank of England announced that all major UK retail lenders passed stress tests to assess their resilience to economic shocks.Frankfurt and Paris also advanced before the week's...

Revenue from operations was US$7.2 billion.

Nearly 140 countries have taken a first step towards reaching agreement on a fairer distribution of tax revenues from multinational firms, the Organization for Economic Co-operation and Development said. Some 138 countries, which account for over 90 percent of global economic output, agreed on a first draft of a convention...

The deposit comes a day after Saudi Arabia transferred $2 billion to Islamabad and brings the state's foreign reserves to $7.5 billion -- more than double last week's account balance. The economy has been stricken by a balance-of-payments crisis as it attempts to service crippling external debt, while months of...

New firm is a $54 million corporate venture capital fund.

DUBAI, UAE – Dubai Chambers is taking a big initiative for ensuring that businesses in the emirate provide excellent customer service.The Service Excellence Program (SEP) will evaluate the quality of customer experience delivered by private sector companies through mystery shopper reports.The initiative will ensure the implementation of global best practices...

A minority stake in Breakwater Energy cost it US$100m.

Riyadh, Saudi Arabia--ROSHN, the Saudi real estate developer, has signed a memorandum of understanding (MoU) with the Expenditure and Project Efficiency Authority, known as Expro, to develop real estate in the kingdom. The MoU looks to improve the efficiency and sustainability of the Public Investment Fund-backed giga-project, as well as boost its...

Tehran, Iran-- After years of frosty relations between the two countries, Egypt and Iran are set to restore ties with the visit of Iranian tourists to the North African country.According to the Egyptian Minister of Tourism and Antiquities, Ahmed Issa, Iranian tourists will soon travel to the country through Egypt's...

The Iraqi prime minister said the decision to pay for Iranian gas imports with oil corresponds with the mechanism agreed with the US in order not to violate the sanctions. Gas is crucial for Iraq's electricity generation, but US sanctions on Iranian oil and gas impose restrictions on how Baghdad...

Vienna, Austria-- Looking to ramp up trade and business relations, the United Arab Emirates has signed an air transport services agreement with Austria at the Ministry of Foreign Affairs in the capital, Vienna.The agreement, which aims to strengthen air transport relations between the two countries, was signed on behalf of...

Dubai, UAE--Dubai Investments and E20 Investment have signed a memorandum of understanding (MOU) to develop 3,750 Ha of agricultural land in Angola, harnessing the potential of the country’s agricultural sector for sustainable growth and economic development.E20 Investment, specializes in investing in and operating farms and processing facilities across the globe,...

The economy has been stricken by a balance-of-payments crisis as it attempts to service crippling external debt, while months of political chaos have scared off foreign investment. Inflation has rocketed, the rupee has reached a record low against the dollar, and the country is struggling to afford imports, causing a...

Ulaanbaatar, Mangolia--The UAE and Mongolia are looking to boost trade and investment cooperation with a focus on the agriculture sector.The two countries held discussions to ramp up collaboration during the visit of Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, to Mongolia. He is leading a...

Abu Dhabi, UAE-- Some 5,000 new jobs have been opened up in the healthcare facilities by the Department of Health, Abu Dhabi under its "Tawteen" program for UAE nationals.All healthcare facilities in Abu Dhabi will provide the jobs for UAE nationals by the end of 2025.DoH called on all healthcare...

GFCF will triple its production after setting up its Phase II in Musasafah.

Lower oil prices and volumes attributed to the estimated deficit, according to a newspaper report. MP Osama Al-Zaid said the draft budget estimates oil revenues of 17 billion dinars, a 19.5 percent decrease from the previous budget.

ABU DHABI, UAE - The UAE ranked seventh in the world in terms of per capita national income, according to the latest data released by the World Bank.The per capita income in the UAE, based on purchasing power parity (PPP) in current international dollars, rose to Int$87,729 in July 2022,...

Funds will be used to finance working capital for projects.

A TRENDS exclusive report takes a hard look at how tens of thousands of white-collar workers in Middle East are falling victim to burnout brought about by workplace stress.

The Egyptian pound has lost half its value against the dollar since early last year, shooting prices upward and adding to the burden of families struggling to make ends meet in the import-dependent country. The latest figures, a rise of almost 37 percent from June last year, also showed a...

The health ministry reported "22 dead and a large number of wounded among the civilians" from what it described as an air strike Saturday on Khartoum's sister city Omdurman, in the district of Dar al-Salam, which means "House of Peace" in Arabic. After nearly three months of war between Sudan's...

A TRENDS exclusive report takes a hard look at how tens of thousands of white-collar workers in Middle East are falling victim to burnout brought about by workplace stress.

Dubai, UAE-- Dubai's Roads and Transport Authority (RTA) has reported a 10 percent increase in revenues for 2022 to $953 million from its digital channels.The company has also recorded 814 million digital transactions up from 676 million in 2021, a 20 percent growth rate. The company also reported a 30...