RAS AL KHAIMAH, UAE -  Ras Al Khaimah Economic Zone (RAKEZ) successfully participated in the second edition of the Ministry of Industry and Advanced Technology's (MoIAT) Make it in the Emirates Forum. The forum brought together industry leaders, government officials and prominent stakeholders to discuss the role of industrial zones...

Hiring in the United States heated up again in May, according to government data released, with the strong labor market defying expectations of a slowdown amid efforts to cool the world's biggest economy. The jobs market has been surprisingly robust even as regulators have worked to ease demand and tamp...

ABU DHABI, UAE - The Ministry of Industry and Advanced Technology (MoIAT) and MEXT signed a memorandum of understanding (MoU) to implement the UAE’s Industrial Technology Transformation Index (ITTI) and deploy the index overseas for the first time. The move is part of the UAE's efforts to accelerate decarbonization and...

Analysts are now divided over whether Saudi Arabia and Russia will keep the group on course with its current output policy, or further curtail production. "The recent inconsistent rhetoric from the two heavyweights certainly threw the spanner in the works and it is hard to predict the outcome," said Tamas...

The acquisition is expected to complete by early 2024.

"In May, 33 vessels departed Ukrainian ports, half of the number compared to April. Only three of those departed from the port of Yuzhny/Pivdennyi, one of the three Ukrainian ports covered in the Initiative," Stephane Dujarric, spokesperson for UN Secretary-General said. He linked the slowdown at port of of Yuzhny/Pivdennyi...

Dubai, UAE - Dubai has scrapped the 10-day grace period for visitors whose tourist visas have expired, Arabian Business reported on Friday.  Previously, individuals who overstayed their visas were allowed an additional 10 days in Dubai before facing penalties. However, Dubai has now followed other emirates in removing this grace...

Despite reaching an agreement in principle last October on a bailout package worth nearly $2 billion, talks with the IMF have stalled for months over demands to restructure public bodies and lift subsidies on basic goods. Saied said during a meeting with Prime Minister Najla Bouden that the current subsidy...

SHARJAH, UAE - The fourth edition of the Jewels of Emirates Show, the first Emirati exhibition dedicated to diamond jewelry, gold, silver, pearls, luxury watches, and perfumes commenced here on Thursday. The Expo Center Sharjah with the support of the Sharjah Chamber of Commerce and Industry (SCCI) is hosting the...

US senators raced to pass a bipartisan debt limit deal approved overwhelmingly by the House of Representatives, with the worst-case scenario of an economy-cratering default seemingly avoided. The Treasury has warned it could run out of money to pay its bills by Monday, leaving no room for delays in enacting...

DUBAI, UAE -  The UAE is poised to play a pivotal role in global trade with its exports projected to reach around US$544 billion (AED2 trillion) by 2030, showcasing a robust annual growth rate of 5.5 percent. according to a Standard Chartered research study. The report, titled 'Future of Trade:...

European Central Bank vice president Luis de Guindos on Wednesday previewed the slowing eurozone inflation rate, calling it "positive" but cautioning that "I would not say that the victory is there".

Riyadh, Saudi Arabia -- Saudi Arabia's merchandize exports decreased by 14.6 percent in Q1 2023, compared to Q1 2022, a report by the General Authority for Statistics (GASTAT) said. The value of exports amounted to SAR 313.5 billion ($83.6bn) in Q1 2023, down from SAR 367.1 billion ($97.86bn) in Q1...

ABU DHABI, UAE - UAE Ministry of Industry and Advanced Technology (MoIAT) has signed a Letter of Intent (LoI) with Shahin in a move towards sustainable industrial development and promoting electric mobility. The LoI, signed at the Make it in the Emirates Forum on Wednesday, underlines the country’s commitment to...

PARIS, FRANCE -  Renewable power capacity will grow by a record number this year as high fossil fuel prices and energy security concerns fueled the deployment of solar and wind systems, the International Energy Agency said on Thursday. Global additions of renewable energy capacity are expected to rise by 107 gigawatts...

Riyadh, Saudi Arabia - The number of SMEs in Saudi Arabia increased by 4.8 percent in the first quarter of 2023, reaching a total of 1.2 million, Saudi Arabia's General Authority for Small and Medium Enterprises (Monsha'at) reported on Wednesday.  This growth was driven by the launch of 88,858 new...

Dubai, UAE -- A total of 137 companies operating from the UAE were fined AED65.9 million for failing to comply with the anti-money laundering and combating the financing of terrorism (AML/CFT) legislation. The Ministry of Economy fined these companies, which are operating in the UAE's non-financial business or professions (DNFBP)...

Gita Gopinath said she believes there are grounds to provide subsidies to help stimulate innovation. Gopinath's intervention into the debate on subsidies follows frustration in Europe over US President Joe Biden's major climate plan, which grants generous subsidies to new electric vehicles manufactured in the United States.

Saudi largesse for the arts has boomed under the kingdom's Crown Prince Mohammed bin Salman, with billions pouring into previously taboo areas such as music, fashion and sports.

"With some hardliners in the Republican party coming out against the agreement (in a vote due Wednesday), its passage through Congress could be bumpy," warned AJ Bell investment director Russ Mould. "Weak Chinese data also contributed to a subdued market mood with Asian stocks a little sickly."

Abu Dhabi, UAE - ADNOC signed deals with more than 60 UAE-based and international companies to locally manufacture key non-oil products in its supply chain, local media reports said. The deals were signed at the Make it in the Emirates Forum in Abu Dhabi, and bring ADNOC closer to its...

Abu Dhabi, UAE--AD Ports Group has signed a memorandum of understanding (MoU) with Abu Dhabi Residents Office (ADRO) to promote the benefits and initiatives which aim to attract and retain top talent in Abu Dhabi. The partnership will develop a joint strategy to inform relevant parties and employees about the...

Tehran, Iran-- Terming the UAE as a reliable trade partner, Iran's Foreign Minister Hossein Amir Abdollahian said bilateral between the two countries are developing in both government and private sectors. He made the remarks during a meeting with Khalifa Shaheen Al Marar, Minister of State of the UAE on Tuesday...

Abu Dhabi, UAE: The UAE on Tuesday issued three new decisions to further smoothen implementation of the Corporate Tax in the country which is set to come into force on June 1. These include fresh rules on tax grouping, interest capping, and unincorporated partnerships. Younis Haji Al Khouri, Undersecretary of...

Dubai, UAE-- The UAE government has launched an AI-powered chatbot that allows users to access information about government services in one place in Arabic and English. The “U-Ask” platform, a unified AI-powered chatbot, is now available on the official portal of the UAE government. Using generative AI technology, the platform...

ABU DHABI, UAE  -  The Economic Integration Committee held its second meeting this year and discussed a range of key economic issues, including access to legislation supporting the growth of new economy sectors in the UAE. The meeting was chaired by Abdullah bin Touq Al Marri, Minister of Economy, and...

Stock markets wobbled as a deal to hike the US debt ceiling and avoid a painful default goes to a vote in Congress this week. President Joe Biden and House Speaker Kevin McCarthy hammered out an agreement that saw both sides give ground, a week before a June 5 deadline.

DUBAI, UAE -  UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei on Tuesday announced the launch of the Global EV Market, a transformational project as per the performance agreements signed by federal authorities in 2022. The project was signed in the presence of Sheikh Mohammed bin Rashid...

Abu Dhabi, UAE -- The UAE pension authority clarified Tuesday that requests related to Shourak scheme, which enables Emiratis to merge end-of-service benefits when switching careers, will only be considered applicable for eligible insured Emiratis who submit their end-of-service employment applications to the General Pension and Social Security Authority (GPSSA)...

Dubai, UAE-- Some 27 million taxi rides were undertaken in Dubai in the first three months of 2023, up one million from the same period last year. According to the Roads and Transport Authority, the latest figures underscored the sector's “remarkable growth” over the past five years. The increase in...

Sharjah, UAE--With an aim to bolster the country's capital markets, the Sharjah-based company Dana Gas has revealed that it will raise its foreign ownership limit to 100 percent. The company said that it had obtained the approval of the regulatory authorities to raise the percentage of foreign ownership from 49...

Many residents said they could hear gunfire after dark on Monday, shortly before the ceasefire extension was announced. Earlier, they reported street battles in northern Khartoum, as well as artillery fire in the south of the city, where a plume of grey smoke was visible. The persistent fighting has impeded...

The company will follow it up with a listing on QSE.

Turkey's longest-serving leader surmounted a powerful opposition coalition, an economic crisis and anger following a devastating February earthquake to beat secular challenger Kemal Kilicdaroglu in Sunday's vote. But his four-point victory margin was Erdogan's narrowest of any past election, highlighting the country's sharp polarisation that the Islamic-rooted conservative will contend...

Dubai, UAE-- In order to fulfill demand for working capital in Africa, DP World has partnered with Standard Bank, the largest bank in Africa by assets, to offer trade finance solutions jointly with DP World Trade Finance. African companies looking for trade finance will now be able to seamlessly access...

ABU DHABI, UAE - Abu Dhabi Quality Conformity Council (QCC) has joined Setup in Abu Dhabi, a comprehensive SME enabling platform, to support SMEs, providing local businesses with guidance and services related to export product standards and compliance. Setup in Abu Dhabi was  launched by Creative Zone in 2022 in...

The key deadline is June 5 -- when, according to Treasury estimates, the government will no longer have the funds required to pay all its debts and bills.

SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has embarked on a landmark trade mission to India, marking a significant step in strengthening economic ties between the two nations. The trade mission's first leg commenced with the highly successful UAE-India Business Forum held in Mumbai, India's bustling...

The UAE aims to attract more businesses and investments by having a competitive Corporate Tax system that follows international standards and a network of double tax treaties.

Dubai, UAE-- In order to increase Dubai's water security and keep pace with the increase in demand, Dubai Electricity and Water Authority (DEWA) has commissioned a water reservoir in the Lusaily area. The project has a storage capacity of 60 million imperial gallons (MIG) and investments totalling $42.85 million. Saeed...

Baghdad, Iraq--Iraq is looking to deepen cooperation with Iran in the transport sector and facilitate the movement of pilgrims between the two countries. The issue was discussed in a meeting in Baghdad between the Iranian and Iraqi ministers focusing on the ways to expand cooperation between the two countries. The meeting...

The UAE aims to attract more businesses and investments by having a competitive Corporate Tax system that follows international standards and a network of double tax treaties.

Doha, Qatar--Qatar has posted a trade surplus of $6 billion in April 2023, according to a report by the country’s Planning and Statistics Authority.   The figures, according to the Planning and Statistics Authority, reflect a 3.5 percent increase over March while a 35.6 percent decline on an annual basis....

Prague, Czech Republic-- The UAE and Czech Republic have held discussions on deepening cooperation in wide-ranging vital sectors of common interest and explore opportunities for trade and investment between the two countries. This occurred in the presence of Ahmed Ali Al Sayegh, Minister of State, and Petr Fiala, Prime Minister...

Ajman, UAE - The Ajman Chamber of Commerce and Industry (ACCI) has discussed expanding the trade and joint investment with Turkiye at the Ajman-Türkiye Business Forum. Organized by ACCI, the forum acted as a platform for exchanging experiences, expanding business networks, developing partnerships, and leveraging the opportunities available in both...

The agreement announced Saturday by President Joe Biden and Republican leader Kevin McCarthy after weeks of crisis talks offers a path back from the default precipice, but it is far from certain that the compromises it contains can garner the support it requires from both sides of the aisle.

President Joe Biden and Republican leader Kevin McCarthy announced a deal to raise the debt ceiling, dragging the United States back from the precipice of default with only a few days to spare. Congress will vote on the deal to extend the government's borrowing authority on Wednesday, just shy of...

In a country where political agreements are concluded after endless negotiations between political parties, the objection of the Kurds is delaying a parliamentary vote on the budget. The changes in budget text says the Kurdish region must first deliver 400,000 barrels of oil daily to the federal authorities, along with...

Iraq looks to have renewable energies cover a third of its electricity needs by 2030 and has signed several contracts for solar plants. Its huge oil reserves are enough to produce crude at current rates for another century, but as the world works to wean itself off hydrocarbons, the country...

Sharjah, UAE--More than 130 auto and tyre companies from China will take part in the second edition of the "UAE China Tyre & Auto Parts Expo" scheduled to begin next week at the Expo Centre Sharjah. The three-day event, which will begin on 29th May, is a joint endeavour supported...