DOHA, QATAR -  Qatar Airways' chief executive on Tuesday doused hopes that the aviation industry can become carbon neutral by 2050, saying he was "very skeptical" about the target.Not enough sustainable aviation fuel is being produced, and technological hurdles remain to using hydrogen as a replacement, Akbar Al Baker told the...

The IMF said the 2023 upgrade reflected "higher-than-expected resilience" in both demand and supply, alongside improved confidence in reduced post-Brexit uncertainty as well as lower energy costs.

LONDON, UK -  British Business and Trade Secretary Kemi Badenoch will hold talks for a modern, comprehensive trade deal as she visits Qatar, Saudi Arabia and the United Arab Emirates this week, according to a press release issued by the UK Embassy in the UAE.Meeting her ministerial counterparts in each...

Indonesia and Iran signed a trade agreement in Jakarta where President Joko Widodo hosted his Iranian counterpart Ebrahim Raisi. Tehran is aiming to boost its international trade. Raisi's two-day visit to Indonesia, Southeast Asia's biggest economy, comes in the shadow of fresh European Union sanctions this week on Iran's Revolutionary...

Speaking on the sidelines of the Qatar Economic Forum, Saudi Arabia's Minister of Energy Prince Salman said OPEC+ pursued three goals of vigilance, initiative and proactiveness. He added that the inaccurate forecasts of the International Energy Agency led to price volatility in the energy market last year and in the...

After their latest get-together on Monday, the Republican Speaker said: "I felt we had a productive discussion. We don't have an agreement yet, but I did feel the discussion was productive in areas (where) we have differences of opinion." He added that negotiators would "work through the night" to move...

Doha, Qatar - Qatar's energy minister warned on Tuesday the "worst is yet to come" for Europe's oil and gas shortages, saying a warm winter had prevented greater difficulties in recent months."The only thing that saved humanity and Europe this year was a warm winter, and the slowdown in the economy,"...

Abu Dhabi, UAE--The Central Bank of the UAE (CBUAE) has removed the board of directors of an insurance company operating in the UAE and replaced it with a temporary committee of experts for six months.The central bank, however, didn't disclose the name of the insurance company, and what led to...

Tehran, Iran-- Less than a year after signing a preferential trade agreement (PTA) with the UAE, Indonesia will sign a similar treaty with Iran during the ongoing visit of the Islamic Republic's President Ebrahim Raisi to the country.The deal is intended to improve trade relations and boost the trade transaction...

Abu Dhabi, UAE-- In order to advance the United Nations Social Development Goals, the UAE institutional investors should concentrate on transition investment, taking advantage of their access to emerging markets.This is the conclusion of a NYU Abu Dhabi (NYUAD) report. The annual report "Transition Investment Lab (TIL)" was launched during...

Kuala Lumpur, Malaysia-- The UAE and Malaysia are looking to bolster cooperation in the field of energy, in addition to strengthening ties between the two countries.The subject of cooperation in clean energy came up in a meeting between Suhail bin Mohammed Faraj Faris Al Mazrouei, the UAE's Minister of Energy...

Dubai, UAE-- The UAE has signed a memorandum of understanding (MoU) with Microsoft and PricewaterhouseCoopers (PwC) to set up the "UAE Centre for Government Digital Excellence."The centre will look to support the government’s digital transformation, enabling government authorities to benefit from the best global practices and modern technologies to improve...

Cairo, Egypt - The UAE International Investors Council (UAEIIC) and Egyptian-Emirati Business Council (EEBC) will work together to enhance the existing investment partnerships, local media reports said.The two signed an MoU regarding the same, which also includes creating more investment opportunities in the new economy, green projects, recycling, clean projects,...

The merged firm will have a combined revenues of $3.4bn.

Sudan is the world's largest producer of the raw gum which is a major source of foreign currency for the northeast African nation. The sector has survived repeated conflicts, a warming climate and decades of sanctions.

Dubai, UAE--Dubai Electricity and Water Authority (DEWA) is looking to cooperate with World Smart Sustainable Cities Organization (WeGO) in urban sustainability, smart technologies and innovate solutions in order to achieve sustainable development goals.In this regard, Saeed Mohammed Al Tayer, MD and CEO of DEWA welcomed a high-level delegation from WeGO....

Abu Dhabi, UAE-- Mubadala will continue to advance the UAE's knowledge-based economy in a way that contributes to solutions for critical global challenges in sectors such as health innovation, the climate emergency and future energy sources.This was stated by Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister...

Iran said it is capable of ensuring the safety of the vital Gulf waters in cooperation with neighboring countries. Iran and its neighboring countries are capable of cooperating for the security of the Persian Gulf, Strait of Hormuz and Sea of Oman," Iran's Chief of Staff of the Armed Forces,...

President Joe Biden slammed Republican demands in negotiations to resolve the US debt ceiling standoff as "unacceptable" but said a solution can still be found before a disastrous default. Biden said he would talk directly with Republican House Speaker Kevin McCarthy during his Air Force One flight back to Washington.

DUBAI, UAE -  Art Dubai, the leading international art fair for the Middle East and Global South, on Sunday announced that the five-day event, held on March 1-5 2023, has provided a direct economic impact of US$39 million (AED143 million) to the city.New figures revealed in the Economic Impact Study...

ABU DHABI, UAE -  The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) has launched an ambitious program to develop and sustain beekeeping and honey production in the Emirate.The program is based on scientific, applied studies and research to develop the best methods and practices suitable for the UAE environment.In...

President Joe Biden may be on the other side of the world but his political fight back home over the debt ceiling has followed him. Bruce Reed is the White House deputy chief of staff and he has trailed president, "updating POTUS on the status of the talks", as a...

DUBAI, UAE -   The Ministry of Community Development and Etihad Water & Electricity have announced the implementation mechanism of the new support program for low-income farm owners in the UAE.The farm owners have to be registered with Etihad Water & Electricity.This support aims to reduce the financial burden related to...

Riyadh, Saudi Arabia--Namibia has voiced its support for Saudi Arabia's bid to host Expo 2030 in Riyadh.This was announced by Dr. Alfredo Tjiurimo Hengari, the presidential press secretary to the President of Namibia Hage G. Geingob following his meeting with the Saudi advisor at the royal court Ahmed bin Abdulaziz...

The two airlines announced the start of a codeshare agreement.

Dubai, UAE-- The UAE is keen to strengthen economic ties with the Central Asian states, which offer many investment opportunities.This was stated by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, who is leading a UAE delegation of government officials to Kazan, the capital of the...

Dubai, UAE -- The International Monetary Fund expects Qatar's real GDP to grow by 2-2.5 percent in 2023-24 on robust domestic demand and the ongoing LNG expansion, with inflation moderating gradually to around 3 percent. It said that after very strong growth in 2022 boosted by the World Cup, the...

With 45 percent unemployment in Gaza, according to the International Monetary Fund, Khoudair's bees provide her with a job.

SAMARKAND, UZBEKISTAN -  The UAE, represented by the Ministry of Finance (MoF), participated in the 2023 Annual Meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) here on May 16-18.The meeting discussed global economic challenges and prospects for economic growth.The UAE delegation included Younis...

DUBAI, UAE- IFZA Dubai signed an agreement with Zoho to provide the members of the IFZA Free Zone community with leading-edge digital tools that will help increase efficiency and ensure compliance.It is a part of IFZA’s commitment to support its Free Zone community in their compliance to the upcoming implementation...

BT employs 130,000 staff, including contractors.

ABU DHABI, UAE -  Abu Dhabi Future Energy Company (Masdar) has announced that it has nearly doubled its clean energy capacity and CO2 displacement in just two years.Masdar said that it is on track to fulfill its ambition of becoming one of the world’s largest renewable energy companies by 2030.According...

Two thirds of Walmart sales originate from US.

The 10-year sukuk was priced with a 4.875% coupon rate.

The oil derived from the famed Damask rose--named after the ancient city of Damascus located just across the mountain range separating Lebanon and Syria--is a staple of perfumers.

Tehran, Iran-- Continuing with their program to deepen the relationship between the two countries, Iran and Russia have signed a new customs agreement to facilitate trade.The agreement was made in a meeting between Mohammad Rezvani-Far, Deputy Minister of Economy and Head of the Islamic Republic of Iran Customs Administration (IRICA), and...

Amman, Jordan--The International Monetary Fund (IMF) has applauded Jordan for its tight monetary and financial policies that have ensured macroeconomic stability and access to international capital markets.The IMF made the remarks at the end of their visit to Jordan after conducting the sixth performance review of the government's economic reform...

Erdogan made the announcement one day before it had been due to expire, scoring a diplomatic coup ahead of a May 28 runoff election in which he will try to extend his two-decade rule until 2028. He thanked "my precious friend", Russian President Vladimir Putin, Ukrainian counterpart Volodymyr Zelensky and...

"Tech is at the top of the global agenda, but the benefits of digital technology are still out of reach for too many people," ITU chief Doreen Bogdan-Martin said in a statement. "If we are serious about digitalizing the world in a way that is meaningful and sustainable, we must...

Once it is signed by Brussels and London, it will create a framework for voluntary regulatory cooperation in the area of financial services between the EU and the UK.

The Emirates' non-oil sector is projected to grow by 4.8 percent, driven by robust domestic demand, particularly in tourism, real estate, construction, transportation, and manufacturing sectors, the bank's officials said.

Jianuo is a leading provider of specialty premium components.

Dubai, UAE--DEWA and Huawei are looking to develop new technologies and solutions to boost efficiency and sustainability in the electricity and water sectors, improve user experience and provide more efficient, safe and sustainable services.The strengthening of the partnership came up in a meeting between Saeed Mohammed Al Tayer, MD &...

Manama, Bahrain - Beyon has announced a major investment of more than $250 million in state-of-the-art digital infrastructure in Bahrain which will support the growth of the country’s digital economy. Batelco, part of the Beyon group, has joined the SEA-ME-WE 6 (Southeast Asia - Middle East - Western Europe) consortium, which...

Tehran, Iran-- Iran is looking to deepen energy ties with Russia as the latter is keen to explore and develop oil and gas projects in the Islamic Republic.This was stated by Russian Deputy Prime Minister Alexander Novak during talks with Iranian Oil Minister Javad Owji in Tehran. He is on...

Abu Dhabi, UAE--Gross banks’ assets, including bankers’ acceptances, rose by 2.2 percent, from $999 billion at the end of January 2023 to $1,020.55 billion at the end of February 2023, according to the Central Bank of the UAE's Monetary & Banking Developments for February 2023.Gross credit increased by 1.2 percent...

Sharjah, UAE-- Sharjah Chamber of Commerce and Industry (SCCI) has reviewed the UAE efforts to achieve and maintain the food security in the country.In this connection, the newly restructured Foodstuff Trade and Industry Sector Business Group, operating under the umbrella of the Sharjah Chamber of Commerce and Industry (SCCI), organised...

The kingdom received about 7.8 million international tourists for all purposes during the first quarter of 2023, representing its highest quarterly performance.

ABU DHABI, UAE -  The Central Bank of the UAE (CBUAE) imposed administrative sanctions on eight banks operating in the UAE.The administrative sanctions take into account the banks' failures to comply with the CBUAE's instructions not to grant any loans or credit facilities to the beneficiaries of loans granted by...

Retail sales in the United States returned to growth in April fueled by a rebound in motor vehicle sales, data released showed, but not by as much as many expected. The US Federal Reserve has hiked interest rates 10 times in a row since last year in a bid to...