PARIS, FRANCE -  Russia's oil exports rose in April to the highest level since its invasion of Ukraine, boosting revenues by US$1.7 billion despite Western sanctions, the International Energy Agency said on Tuesday.The Paris-based organization said Russian exports increased by 50,000 barrels per day to 8.3 million bpd last month, estimating that...

Regulators worldwide are increasingly worried about the lack of oversight of the digital currency sector but the European Union has already taken steps to protect investors. Last month, EU parliament approved the world's first comprehensive rules covering crypto assets.

On Monday, the European Commission boosted its 2023 economic growth outlook for the 20-country euro area by 0.2 points to 1.1 percent.

Beijing, China - China has set a growth target of approximately 5 percent for the Gross Domestic Product (GDP) as announced in the 2023 Government Work Report (GWR).The report outlines the country's comprehensive economic and development tasks for the upcoming year, providing insights into the country's strategies to achieve these...

They will support growth of the sustainable aviation fuel market.

Muscat, Oman - Moody's has upgraded Oman's credit rating from Ba3 to Ba2 while maintaining a positive outlook due to the reduction in public debt and the improvement in the Sultanate's ability to meet its financial obligations in 2022.This comes after S&P revised Oman's outlook from stable to positive in...

Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities has been oversubscribed by 197%.Subscriptions worth BD 84.706 million were received for the BD 43 million issue, which carries a maturity of 91 days.The expected return on the issue, which begins on...

Dubai, UAE-- Qatar and Bahrain have agreed to restart flights toward the end of the month, in a sign of warming relations between the estranged countries.According to Bahrain News Agency, the resumption of flights between Bahrain and Qatar “comes within the framework of the brotherly relations between the two brotherly...

Dead Sea, Jordan -- Almost 2 million people visited Jordan in first quarter of 2023, an 87.2 percent increase compared to the first third of 2022, the Tourism Minister of Jordan, Makram Qaisi said Monday.He said that the "tourism sector has begun to recover and grow at a high pace,"...

Abu Dhabi, UAE-- Iran is keen to boost transportation ties with the UAE and has invited investors from the country to take part in transportation projects in the Islamic Republic.In this connection, Iran Minister of Roads and Urban Development, Mehrdad Bazrpash, met with Sheikh Mansour Bin Zayed Al Nahyan, the...

Dubai, UAE-- The UAE's Ministry of Climate Change and Environment has issued a decree on the use and distribution of hydrofluorocarbons (HFCs) in order to control their circulation and emission into the air.The decree aligns with the UAE's preparations to host the 28th Conference of the Parties to the United...

BERLIN, GERMANY -  The European Central Bank (ECB) has fined US financial giant Goldman Sachs US$7.2 million (6.63 million euros) for misreporting its capital needs, it said on Monday.Goldman Sachs Bank Europe was found to have "breached credit risk reporting rules" in 2019, 2020 and 2021, the ECB said in a...

ABU DHABI, UAE - First Abu Dhabi Bank (FAB) is hosting a one-day summit that brings together aviation thought leaders and industry stakeholders to explore economic development opportunities as the sector transitions to net-zero. The Aviation Sector Summit, held in collaboration with Boston Consulting Group (BCG), consist of talks, panel...

ARBIL, IRAQ- Officials in Iraqi Kurdistan say Baghdad is still waiting to reach a "final agreement" with Ankara to resume oil exports to Turkey, where the results of tightly-contested presidential elections hang in the balance.After defying Baghdad and independently exporting crude through Turkey for nearly a decade, Iraq's autonomous Kurdish...

Leveraging DMCC’s strong regulatory framework and reputation within Indian business circles, the office will provide a one-stop solution for Indian businesses looking to expand through Dubai and help them establish a presence in DMCC.

At 2.7 percent, inflation remained unchanged from March, according to the kingdom's General Authority for Statistics. It was driven mainly by an 8.1 percent year-on-year rise in housing, water, electricity, gas and other fuel prices.

By filtering and treating the Treated Sewerage Effluent (TSE), it will remove additional impurities and contaminants, generating non-potable water suitable for industrial use.

Abu Dhabi, UAE-- The recent partnership signed between Abu Dhabi Islamic Bank (ADIB) and Meydan Free Zone is expected to promote SMEs and sustainability in the economy.Through this partnership, trade licence holders within the Meydan Free Zone will have access to ADIB's diverse range of business banking products and services....

Finance Minister Bruno Le Maire gave no details of Monday's talks with Musk, saying simply that "all of today's investments are the fruit of months or even years of negotiations". During a US trip in December, Macron held an unannounced face-to-face meeting with Musk, saying later the two had had...

Amman, Jordan-- Jordan's industrial producer-price index, which generally reflects supply conditions across the economy, climbed up 2.59 percent in the first quarter of 2023, amounting to 137.20 points compared with 133.73 points in the same period of 2022, the Department of Statistics (DoS) revealed on Sunday.The DoS said that the...

The oil-rich kingdom has supported private institutions targeting startups to further boost investment in non-oil sectors.

Dubai, UAE-- Oman and Etihad Rail Company, the operator of the UAE-Oman Rail Network, has signed a memorandum of understanding (MoU) with Vale, the Brazilian mining giant, to look at the possibility of using the rail network in the transportation of iron ore.The MoU was signed by Ahmed al Musawa...

Appearing before a large crowd of supporters, Erdogan proclaimed himself to be ready to lead the nation for another five years. The results nearly complete from Turkey's most important election showed him falling just short of the 50-percent threshold needed to win. He claimed to have won a clear majority...

The government sold a 9.5% stake for US$121.6mn.

President Joe Biden's administration again warned of "catastrophic" consequences for the US economy including huge job losses if the country defaults, as negotiations to forge a debt deal are expected to resume this coming week. For weeks US policymakers, bankers and the White House have warned that the country is...

The emirate achieved an 89.5 percent year-on-year growth in 2022 and Foreign Direct Investment capital inflows of $12.79 billion. The emirate's share of global Greenfield FDI projects in 2022 reached 4 percent, said Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of Dubai Executive Council.

Geneva, Switzerland - The 14th World Economic Forum (WEF) Annual Meeting of the New Champions is scheduled to take place between 27-29 June in Tianjin, China.The WEF meeting is happening when the global economy is going through the process of transformation. COVID-19 pandemic as well as fast-changing, macro-economic landscape are...

Doha, Qatar--Qatar Chamber (QC) has urged Vietnamese companies to benefit from the investment climate in Qatar and the investment incentives and facilities granted by the state to foreign investments in all sectors.Qatar Chamber board member Ali Abdullatif Al Misnad lauded the close relations between Qatar and Vietnam in all fields,...

Following international pressure, Damascus agreed to let the UN use the Bab al-Salama and Al-Rai crossings, operated by Turkish-backed rebels, to bring in food and medical supplies for three months. The permission had been set to expire May 13, so Syria's decision was welcome news for those affected as well...

Muscat, Oman--Qatar Chamber (QC) Chairman Sheikh Khalifa bin Jassim Al-Thani has called for a unified policy for purchase of food and medicine at a meeting in Muscat.This came during his participation in the consultative meeting between GCC ministers of commerce and heads of unions and chambers of commerce and industry...

Jeddah, Saudi Arabia--The Islamic Development Bank (IsDB) Group has signed 77 financing agreements worth $5.4 billion with 24 member countries during its annual meeting in Jeddah. The four-day event hosted dozens of agreements, panels, summits, and business-to-business meetings with the high-level participation of its member countries.The agreements aim to develop...

He continued his predecessor's remarkable legacy until his own passing on May 13, 2022. Under his leadership, the UAE flourished, becoming the second-largest economy in the Arab world and the first Arab and Islamic nation to successfully reach Mars, among numerous other notable achievements across various domains.

Tehran, Iran--Iran's trade with six Arab states has vaulted to $35.11 billion in the fiscal year of 2022-2023, according to the latest data released by the Islamic Republic.According to Iran Customs Administration, the Islamic Republic traded 58.25 million tons of goods (excluding crude oil exports) worth $35.11 billion with the...

BRUSSELS, BELGIUM -  The EU imported US$524 billion (€482 billion) worth of high-tech products from extra-EU countries in 2022 (+22 percent compared with 2021), according to an estimate published by Eurostat, the statistical office of the European Union .Exports to these countries reached US$485 billion (€446 billion) (+16 percent compared...

ABU DHABI, UAE - Emirates Development Bank (EDB) displayed its flexible and customized financing solutions in the Annual Investment Meeting, held at ADNEC here, local media reports said.The two-day event served as a platform for networking and connecting with experts, investors, companies, and SMEs.EDB's CEO, Ahmed Mohamed Al Naqbi, said:...

DUBAI, UAE - The UAE presented its legislative ecosystem - which regulates the local labor market, provides social security and ensures decent social security to workers - the UN’s Human Rights Council (HRC).Several UAE federal, local government entities and civil society organizations were part of the delegation for the country’s...

Riyadh, Saudi Arabia-- Saudi Arabia and Iran have discussed ways to strengthen the ties between the two countries in a meeting between the kingdom's Finance Minister Mohammed Al-Jadaan and the Islamic Republic's Economy Minister Ehsan Khandouzi.The meeting took place on Friday in Jeddah on the sidelines of the Islamic Development...

Tehran, Iran--Iran will begin to receive the first batch of Russian SU-35 fighter jets next week, according to Mehr News Agency.Tehran and Moscow have embarked on deepening cooperation amid massive Western sanctions. Iran and Russia have signed major deals in recent months to boost economic, trade, energy and military cooperation.The...

The profit rose to US$22mn on the back of higher revenue.

Speaking at a CII event in New Delhi, Abdulla Bin Damithan, CEO & Managing Director, DP World UAE & Jafza outlined efforts to push non-oil trade between the two countries toward $100 billion over the next five years. JAFZA has been supporting initiatives to boost manufacturing, investments and exports in...

Its profit vaulted to US$150 million in Q1 of 2023

DUBAI, UAE - Dubai Chambers has hosted a workshop for commercial attachés of EU Diplomatic Missions to provide them with an overview and key highlights of the UAE's Corporate Tax Law.The workshop, organized  in collaboration with Al Tamimi & Company Law Firm, brought together 13 officials representing the commercial interests...

Firm said the profit was driven by higher prices for policies.

On average, a soldier used to earn about $800 a month before the crisis, but the value of the Lebanese currency, the pound, has since crashed and salaries are now worth around just $100. Since June last year, Qatar and the United States have announced millions to help prop up...

On Thursday the Kurdish authorities said in a statement that "the Kurdistan regional government and the federal authorities have reached a (final) deal on the resumption of oil exports". Hours later, Iraqi Oil Minister Hayan Abdel Ghani said crude exports would resume from Saturday.

ABU DHABI, UAE - Masdar has signed an agreement with the International Renewable Energy Agency (IRENA) to cooperate on a major international knowledge project setting out the means to triple global renewable energy capacity by 2030.During the UAE Climate Tech Forum in Abu Dhabi, Mohamed Jameel Al Ramahi, CEO of...

The Bank of England lifted its key interest rate to the highest level since the 2008 financial crisis, noting inflation remained stubbornly high but that the economy would now avoid recession this year. The BoE hiked the rate by a quarter-point to 4.5 percent with UK annual inflation stuck above...

As per pact, e& is a cornerstone shareholder of Vodafone.

Riyadh, Saudi Arabia -- Saudi Arabia's Industrial Production Index (IPI) increased by 4.1 percent in March 2023, compared to the same month last year, mainly due to an increase in production in the mining and quarrying activity, manufacturing and electricity and gas supply.The kingdom's General Authority for Statistics (GASTAT) said...

The group declared a dividend of $1.2 billion to its owner.