France has been rocked by a major wave of violent street protests sparked by the fatal police shooting of a 17-year-old of Algerian origin, identified only as Nahel M., in the Paris suburb of Nanterre on Tuesday. The government has deployed tens of thousands of security forces and made hundreds...

Tehran, Iran-- Iran has earned revenue to the tune of $54 billion last year from the export of oil, according to US Energy Information Administration (EIA) estimate. OPEC members earned about $888 billion in net oil export revenue last year. That’s what the US Energy Information Administration (EIA) estimates in...

Muscat, Oman--Oman's gross domestic product (GDP) at constant prices recorded an increase of 4.7 per cent to reach $22.59 billion at the end of the first quarter of 2023.The GDP at constant price was $21.71 billion in the first quarter of 2022, according to the initial data issued by the...

The decision was made "to address extreme levels of data scraping" and "system manipulation" by third-party platforms, Musk said in a tweet Saturday afternoon, as some users quickly hit their limits. The company is limiting verified accounts to reading 10,000 tweets a day and non-verified users are limited to reading...

Citing a military source, Syrian state news agency SANA said that Israel carried out air strikes near the government-held city of Homs. The air strikes hit "some points in the vicinity of the city". Israel, during more than a decade of war in Syria, has launched hundreds of air strikes,...

AMMAN, JORDAN  -  The pharmaceutical and medical supplies sector of Jordan has experienced an impressive 29.7 percent growth in exports during the first five months of this year compared to the corresponding period last year.Fadi Al-Atrash, the sector's representative at the Jordan Chamber of Industry, revealed that exports from this...

GABORONE, BOTSWANA -  Botswana has reached an eleventh-hour deal with diamond giant De Beers after months of tense negotiations that saw the continent's top producer threatening to cut ties with the storied company.The Botswana government and Anglo-American, the majority owner of De Beers, have reached an "agreement in principle", the two...

New York, US--The Arab Group has welcomed the adoption by the UN General Assembly by consensus of a resolution on continuing intergovernmental negotiations on reforming the UN Security Council  during the next session.The step will allow member states to continue working collectively, in order to formulate a common understanding that...

Amman, Jordan-- Trade between Jordan and non-Arab Asian countries has shot up in the first quarter of 2023, with the value of the kingdom's exports to the countries surging to about $1.16 billion, compared to about $1.07 billion for the same period last year, according to foreign trade data issued...

A former assistant of Riad Salameh, the governor of Lebanon's central bank, has been charged with money laundering by France. Last year, France, Germany and Luxembourg seized assets worth $130mn in a move linked to a probe into Salameh's wealth. He is accused of having amassed a fortune during his...

PARIS, FRANCE - French Minister of Foreign Trade Olivier Becht said his country and the UAE share a common vision of accelerating the shift to green energy to tackle the growing threats posed by climate change.The two countries are working together on low-carbon energy solutions, he said,  expressing his trust...

VIENNA, AUSTRIA -  A new US$60 million loan by the OPEC Fund for International Development (OFID) and partners is expected to significantly strengthen energy security in northwest Tanzania.The project will include constructing a 166km overhead transmission line connecting the Kagera region to the national grid, replacing the current energy supply...

RAS AL KHAIMAH,  UAE - Ras Al Khaimah Economic Zone (RAKEZ) has announced the addition of over 1,500 new companies in the second quarter of 2023.This robust growth represents a remarkable 132 percent increase compared to the same period in 2022, further cementing RAKEZ’s role as an accelerator for business...

Pakistan's negotiations with the IMF for the last tranche of a $6.5 billion bailout package agreed in 2019 stalled in November, with the government making last-minute changes to the national budget to meet the deal's requirements. That package expires on Friday, and the new agreement builds on the IMF's efforts...

The International Monetary Fund warned in a report that Lebanon's failure to implement reforms could have "irreversible" consequences for the crisis-hit country and risks jeopardizing economic and social stability. Lebanon has been mired since 2019 in an economic collapse that has seen the local currency lose around 98 percent of...

Washington, United States - US economic growth came in at two percent in the first quarter this year, the Commerce Department said Thursday, making a significant upward revision to earlier estimates partly on stronger-than-expected consumer spending.While GDP growth in the world's biggest economy has still cooled from 2.6 percent in the...

Geneva, Switzerland - United Nations Conference on Trade and Development (UNCTAD) said the COVID-19 pandemic, Ukraine crisis and the climate crises are having a devastating effect on progress towards the SDGs.The UNCTAD released the fifth edition of its annual SDG Pulse, a global reference for tracking progress towards achieving the...

In early June, European Union countries reached agreement on a long-stalled revision of the bloc's asylum rules. It aims to share the burden of hosting asylum seekers across EU countries, with those refusing to do so having to pay money to the ones that do. Poland and Hungary, which were...

MANILA, PHILIPPINES - Asian Development Bank's financing partners committed US$11.4 billion to confinance projects in 2022 that boosted the resilience of developing member countries in Asia and the Pacific, said a Partnership report.The Partnership Report 2022: Driving Growth, Boosting Resilience showcases how ADB and its partners are helping developing member...

Baghdad, Iraq-- An advisor to Iraq's Prime Minister said the country has effective price monetary policy tools to manage public funds.Mudher Muhammed Salih, the advisor to the Prime Minister for Financial Affairs, emphasized the effectiveness of quantitative and price monetary policy tools in managing public funds and discussed factors contributing...

The Fed recently paused its aggressive cycle of rate increases after 10 consecutive hikes, to give policymakers more time to weigh the effects of existing moves on inflation. At the same meeting, a majority of members on the Fed's rate-setting committee indicated they see interest rates rising twice more before...

The central bank has hiked rates at the fastest pace ever over the past year in a bid to cool inflation after Russia's war in Ukraine sent energy and food prices surging.

Wall Street popped higher Tuesday after a string of readings soothed concerns about a possible recession, while traders were also cheered by Chinese growth pledges. However, reports that Washington could block the export of artificial intelligence chips to China weighed on sentiment.

Dubai, UAE -- Qatar's nominal GDP is expected to reach $227.3 billion in 2023 and $228.8 billion in 2024, driven by higher oil prices and increased production by GCC countries, a report by Emirates NBD said.The report forecasts real GDP growth to reach 2.3 percent in 2023 and 2.6 percent...

The UN's International Organization for Migration estimates that 1,724 migrants had disappeared trying to cross the Mediterranean to Europe so far this year, up from 1,417 last year. According to the Italian interior ministry, around 90,000 migrants have arrived by sea so far this year.

Tehran, Iran-- Qatar has renewed its willingness to boost economic cooperation with Iran, ramping up investment in order to strengthen the overall relations between the two countries.In a phone call on Tuesday with the Iranian President Ebrahim Raisi, the Emir of Qatar Sheikh Tamim bin Hamad Al Thani voiced his...

Sharjah, UAE--Sharjah Football Company has signed Mohamed Firas Belarbi, the Tunisian international defender, from the Ajman Club for an undisclosed sum.Regarded as one of the most effective attacking midfielders in the UAE championships over the past two seasons, Belarbi has an impressive track record. His remarkable contributions during the 2022-2023...

Riyadh, Saudi Arabia -- Saudi Arabia’s imports from Gulf Cooperation Council countries fell 15 percent year-on-year to SAR 5.6 billion ($1.49 billion) in April 2023, compared to SAR 6.57 billion in 2022, the Kingdom's General Authority for Statistics said.Compared with March 2023, the Kingdom's imports from GCC dropped by 21...

Dubai, UAE -- Dubai's real estate market has recorded its highest semi-annual sales figures ever, with 61,000 deals worth AED 179.34 billion ($47.8 billion) taking place in the first half of 2023, according to W Capital Real Estate Brokerage.CEO of W Capital, Al Zarooni, said the growth rate in terms...

The more positive environment came as concerns over Russia subsided following an aborted uprising, though developments in the nuclear-armed country are being closely followed. Sentiment was also boosted by comments from Chinese Premier Li Qiang, who said the government would roll out fresh measures to kickstart the nation's struggling economy...

Doha, Qatar--The increasing availability of government sukuk and Islamic liquidity management tools by the Qatar Central Bank supports liquidity management and investment options for Islamic banks, according to a report from Fitch Ratings.In a report issued today, it indicated that its review of its future expectations for three Qatari Islamic...

Abu Dhabi, UAE--The International Security Alliance (ISA) has seized narcotics estimated to be worth US$750 million from a large transnational drug trafficking ring, and arrested 597 suspects, in a wide operation spread over many continents, dealing a big blow to organized criminal groups trafficking in drugs.The ISA, a working group...

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...