Doha, Qatar-- Qatar and Argentina are looking to bolster ties and in this regard Qatar Chamber of Commerce and Industry (QC) and Argentina Chamber of Commerce have signed a memorandum of understanding (MoU) to enhance and diversify trade exchanges and economic cooperation between the two countries.This came on the sidelines...

Tehran, Iran-- Qatar and Iran have agreed to bolster ties in the labor sector with the aim of raising capacities, exchanging experiences, developing a consultation mechanism between the two countries, exchanging experiences in the field of vocational and technical training and training centers.In this connection, the Qatari-Iranian Joint Committee in...

Abu Dhabi, UAE-- Prominent Abu Dhabi companies are taking part in Impower Fund Forum, the largest asset and wealth management conference in Europe that will see participation of more than 1,400 international players from nearly 60 countries.The companies from Abu Dhabi that will take part in the event include the...

Will help to enhance efficiency of overseas operations.

Official data show a 6.1 percent growth in non-oil GDP during the first quarter of 2023, driven by strong performances in construction, wholesale and retail trade, transportation and storage, and financial and insurance services. The non-oil GDP (at constant prices) reached AED 146bn ($39.74bn) in Q1 compared to AED 137.7bn...

Doha, Qatar--Qatar participated in the 58th regional meeting of director general of customs of the North of Africa, near and Middle East region, and the 141st/142nd Sessions of the WCO Council, held at WCO headquarters in Brussels.Qatar was represented by chairman of the General Authority of Customs (GAC) Ahmed bin...

While the advance by the Wagner mercenary force led by Yevgeny Prigozhin was called off before it reached Moscow, analysts said the rebellion showed President Vladimir Putin's grip on power was more fragile than previously thought. It also added to unease on trading floors, where investors last week reversed a...

Amman, Jordan--The European Investment Bank (EIB) has approved the provision of $66.52 million for Jordan to upgrade the water supply system and reduce water loss in Bani Kinanah district north of Jordan.The project is intended to improve the quality of drinking water in the targeted districts and reduce water loss...

Cairo, Egypt - The remittances to Egypt, the biggest recipient of such flows in the MENA region, are set to increase by 3.1 percent in 2023 followed by a decline of 1.4 percent in 2024, according to World Bank’s latest report.Remittances to the country decreased by 10 percent year on...

Tehran, Iran-- The future of relations between Iran and the United Arab Emirates is promising and in line with the interests of both nations, according to Iran's ambassador to the UAE."The two countries intend to find ways to have warmer and closer relations in light of developments in the region...

Dubai, UAE-- Dubai Customs has scuttled nearly 2,600 attempts during the last three years to smuggle drugs, combating a concerted campaign to bring in drugs into the emirate as it commemorates the International Day Against Drug Abuse and Illicit Trafficking on June 26th each year.Between 2020 and 2022, Dubai Customs...

Conservative leader Kyriakos Mitsotakis won Greece's national elections on Sunday with a clear majority, securing a second term during which he vowed to bring about major reforms to transform the country. With nearly all the votes counted, Mitsotakis's New Democracy party obtained a score of over 40.5 percent.

BERLIN, GERMANY - On his many visits to semiconductor factories and electric car plants, Germany's Chancellor Olaf Scholz bangs the drum for an economy at the forefront of an industrial transformation.But the picture painted by business leaders and experts is less rosy, predicting hard times to come for Europe's largest economy.Having...

Doha, Qatar - Qatar Chamber and Tajikistan Chamber of Commerce and Industry signed Sunday an agreement to establish a Joint Business Council (JBC) between the two chambers. The Joint Business Council aims to facilitate communication between the two parties to increase trade and economic cooperation between the two countries. It...

Indian Prime Minister Narendra Modi met Egypt's President Abdel Fattah al-Sisi in Cairo on a rare visit during which both sides pledged to deepen their strategic partnership. They agreed to boost investment by India, the world's most populous nation, in Egypt and which is now in the grips of an...

Almost 2,000 supporters gathered in Ain Zhalta, in the Druze heartland of the Chouf mountains, where members of the Progressive Socialist Party named the lawmaker as their new leader. The PSP was founded by Taymur's grandfather Kamal and has become all but synonymous with the Druze community.

NEW DELHI, INDIA - UAE Minister of Economy and Head of the Emirates Tourism Council Abdullah bin Touq Al Marri met separately with the ministers of India, UK, Indonesia and Japan on the G20 Tourism Ministers' Meeting in Goa.Bin Touq met with Sandiaga Uno, Minister of Tourism and Creative Economy...

SHARJAH, UAE - The emirate's real estate activity during May 2023 logged a total value of US$653 million (AED 2.4 billion), further enhancing Sharjah's position as an ideal destination for investors, businessmen and families.The Real Estate and Mortgage Report issued by Sharjah Real Estate Registration Department (SRERD) revealed that 3,540...

Minister of Economy Abdullah bin Touq Al Marri said that the strong GDP growth was due to the government's forward-looking economic policies, which have helped to attract investment and promote foreign trade. He also noted that the UAE's GDP per capita has grown by an unprecedented rate of 24.7 percent...

Abu Dhabi, UAE-- The emirate of Abu Dhabi has approved the disbursement of housing benefits worth US$844 million to citizens in order to lift up their standard of living.In this connection, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi...

Doha, Qatar--Qatar has been elected to be the chairperson of the International Civil Aviation Organization (ICAO)'s Technical Cooperation Committee (TCC).Representatives of ICAO council member states elected Qatar's candidate and Permanent Representative in the Council Essa Abdullah Al Malki as the chairperson of the ICAO Technical Cooperation Committee, during the ICAO...

Libya's internal turmoil may worsen with the head of the country's east-based administration threatening to block oil and gas exports from territory under its control. Oussama Hamad blamed the UN-recognized government in Tripoli for wasting energy revenues. He warned that the government is ready to take more steps, including an...

In spite of economic sanctions imposed by the Western governments against Iran, the country has seen its oil exports surge in May to 1.9 million barrels per day. According to its oil minister, the energy diplomacy and its strengthening relations with countries in Asia, Africa, and Latin America have helped...

Abu Dhabi, UAE-- Some 900,000 passengers are expected to pass through Abu Dhabi International Airport on more than 5,000 flights to and from 109 destinations spread over 59 countries.The projected numbers were released by Abu Dhabi Airports in anticipation of an increase in traffic at Abu Dhabi International Airport (AUH),...

BAGHDAD, IRAQ - The Finance and Business Center in Iraq is set to become a hub for trading and selling both governmental and private securities, according to the Prime Minister's financial advisor Mudhar Muhammad Salih.In an interview with the Iraqi News Agency (INA), Salih emphasized the center's role in Iraq's...

KUWAIT- Central Bank of Kuwait (CBK) announced that the broad money supply (M2) went up by 0.3 percent last May to settle at US$130.6 billion (KD 39.6 billion).Local banks' private sector deposits increased by 0.6 percent to settle at US$119.4 billion (KD 36.2 billion), revealed the CBK's economic research department,...

RIYADH, SAUDI ARABIA - The Minister of Human Resources and Social Development and Chairman of the Board of Directors of the National Center for Non-Profit Sector, Eng. Ahmed bin Sulaiman Al-Rajhi, praised the contributions of the non-profit sector in achieving Saudi Vision 2030.The Saudi Arabian government has outsourced certain type...

DUBAI, UAE - Dubai Land Department (DLD), through the real estate development sector, has launched the real estate investment trusts (REIT) privileges registry, and announced the opening of registration in it.Following the design and development of the online platform and the training the service centers to receive applications, local and...

Dubai, UAE--The Dubai Police and Dubai Islamic Bank (DIB) have signed an agreement to back the social initiative, "Bayti", with $5.44 million to support people with low-income in home construction and furnishing.The ‘Bayti’ initiative was recently launched by Dubai Police General Command, the Department of Islamic Affairs and Charitable Activities...

With violence escalating between Palestinians and Israelis, Morocco has postponed a meeting of Arab allies of Israel it was due to host this summer. According to the country's Foreign Minister Nasser Bourita a date for the meeting can be worked out when circumstances are more "favorable." The annual meeting was...

Abu Dhabi, UAE-- The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) has made it mandatory for foreign vehicles crossing into the UAE by land at Al Ghuwaifat Port Station to be insured, from June 26, 2023.The vehicle owners driving into the country can now buy insurance online...

FRANKFURT, GERMANY -  Shares in Siemens Energy plummeted on Friday after the company warned that technical problems at its wind turbine unit were worse than previously thought.The group scrapped its full-year profit target and said it was setting aside more than US$1.1 billion (1 billion euros) over the coming years to...

ABU DHABI, UAE - Aggregate capital and reserves of banks operating in the UAE rose by 10 percent year-on-year (YoY) to US$118.5 billion (AED435.3 billion) at the end of April 2023 from US$107 billion (AED395.9 billion) at the end of April 2022, according to the Central Bank of the UAE’s...

A senior US Federal Reserve official said that additional interest rate hikes are needed to tackle historically high inflation. "I believe that additional policy rate increases will be necessary to bring inflation down to our target over time," Fed governor Michelle Bowman told a conference in Cleveland, Ohio, according to...

LONDON, UK -  The Bank of England on Thursday lifted its key interest rate by a half-point to five percent to tackle stubbornly high UK inflation despite such a move worsening a cost-of-living crisis.The higher-than-expected hike to a 15-year high was the 13th increase in a row."There had been significant upside...

Dubai, UAE-- The UAE and France have reiterated their commitment to widening cooperation in important fields and sectors. The resolve was renewed at the 15th session of the UAE-France Strategic Dialogue held in Paris.The two countries discussed the status of the strategic bilateral investment partnerships, which were signed in December...

Cairo, Turkey – Suez Canal revenue surged by 35 percent to $9.4 billion in the financial year 2022-23, up $7 billion from the previous year, Suez Canal Authority (SCA) Chairman Osama Rabie said on Wednesday.Addressing a press conference on Wednesday, Rabie attributed the Suez Canal's revenue increase to the crisis...

Abu Dhabi, UAE--The UAE airports have received nearly 31.8 million passengers in the first quarter of 2023, a rise of 11.5 million passengers from the same period in 2022, when about 20.4 million passengers were recorded, according to the Central Bank of the UAE (CBUAE).Indicating that the civil aviation sector...

The Turkish leader pushed the central bank to start slashing interest rates two years ago as part of a "new economic model" that focuses on job creation and economic growth. The policy badly backfired and nearly cost the veteran Turkish leader last month's general election. The annual inflation rate reached...

Amid continuous divisions plaguing the country, France's new envoy for Lebanon, Jean-Yves Le Drian, landed in Beirut to hold talks with its leaders. The envoy's three-day visit comes a week after Lebanese lawmakers failed for a 12th time to elect a new president, drawing condemnation from the international community.

Dubai, UAE--The UAE has unveiled what it calls as the next generation of future design tools, enabling government entities to draft and adopt practical initiatives and projects that will enhance the UAE's readiness for the future.The launch took place during the first meeting of the UAE Future Network, with the...

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) has noted with satisfaction the persistent credit appetite of the private sector in the country, evident in the strong demand growth for loans that were coupled with financial institutions’ increased willingness to lend in the first quarter of this...

The energy company will pay US$462 million for the buyout.

The peace deal has ignited debates on its potential to transform Middle East from a region hit by conflicts to a peaceful place. Dive into an in-depth analysis from TRENDS.

It is expected to propel Qatar as an investment hub.

After gaining independence from Sudan in 2011, South Sudan descended into a civil war that left nearly 400,000 people dead and millions displaced between 2013 and 2018. A peace agreement signed in 2018 provided a power-sharing agreement between rivals Salva Kiir and Riek Machar in a government of national unity.

The bilateral peace agreement has sparked intensified debates about its potential to transform the Middle East from a conflict-ridden region to peaceful and prosperous place.

DUBAI, UAE - Dubai's real estate market recorded 638 sales transactions worth US$503 million (AED1.85 billion) on Tuesday, data released by Dubai's Land Department (DLD) showed.The market also recorded 130 mortgage deals totaling US$732 million (AED2.69 billion), and 21 gift deals amounting to US$59.5 million (AED218.56 million).The sales included 566...

ABU DHABI, UAE -  The Central Bank of the UAE's (CBUAE) balance sheet grew by 6.3 percent on a monthly basis to reach US$172 billion (AED631.63 billion) at the end of April 2023, marking the largest level ever in its history, the apex bank said in its budget report for...

The first phase works, costing $200m, likely to completed in 30 months.