Tehran, Iran--Iran and the European Union traded $847 million worth of goods during the first two months of 2023, registering a 9.2% fall compared with the same period of the year before.Data released by Eurostat show Germany was the top trading partner of Iran in the EU region during the...

The 69-year-old leader looked fighting fit as he strutted back on stage after a three-day illness and tossed flowers to rapturous crowds at an Istanbul aviation fest on Saturday. It was the perfect venue for reminding Turks of all they had gained since his Islamic-rooted party ended years of secular...

The announcement came as Musk has struggled, amid frequent controversy, to make Twitter profitable. The per-article approach, some Twitter users said, could encourage a flourishing of "click bait." It is feared it might favor big publishers over small ones, and it is unclear that authors -- not just news groups...

Amman, Jordan--Expressing his deep appreciation of the United States for its support to Jordan, King Abdullah has called for strengthening of ties with its longtime strategic partnership in a meeting with a US Congress delegation.The king, according to a royal court statement, received the delegation headed by US House Speaker...

DUBAI, UAE - Dubai’s Department of Economy and Tourism (DET) is likely to display the diversity of the Emirate's destination, offering sustainability platforms and highlighting new initiatives designed to boost the tourism industry during the 30th edition of Arabian Travel Market(ATM), local media reports said.This year’s ATM, from May 1-4...

Tehran, Iran--Accompanied by a large delegation, Iraq's President Abdul Latif Rashid arrived in Tehran to deepen economic, trade and political ties with the Islamic Republic of Iran.Upon his arrival early on Saturday, the Iraqi chief executive was welcomed by Minister of Economic Affairs and Finance of Iran Ehsan Khandozi at the...

Amman, Jordan--The volume of trade exchange between Jordan and the US shot up in January and February 2023 to $745 million compared to $561 million for the same period in 2022.Foreign trade data issued by the Department of Statistics (DoS) showed that the value of Jordanian exports to the US...

Abu Dhabi, UAE-- Looking to employ 5,000 UAE national by 2026, and designing a program to groom future banking and financial sector leaders, the UAE Banks Federation (UBF) approved the plans for 2023 presented by the board of directors at its Annual General Meeting (AGM).The AGM was chaired by Abdulaziz...

European investigators probing Lebanese central bank chief Riad Salameh's wealth will question officials from two international firms previously tasked with auditing the central bank's accounts, a judicial official said. Salameh is the target of a series of judicial investigations at home and abroad on suspicion of embezzlement and money laundering,...

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a report published into the collapse of Silicon Valley Bank last month. "Following Silicon Valley Bank’s failure, we must strengthen the Federal Reserve’s supervision and regulation," Federal Reserve vice chair for supervision Michael Barr...

BERN, SWITZERLAND - Switzerland's central bank said Friday that the country's banking regulations needed toughening up after the implosion of Credit Suisse, while the sector also needed to ensure proper competition for services."Banking regulation and supervision will have to be reviewed in light of recent events," Swiss National Bank chairman Thomas...

ABU DHABI, UAE - The UAE will participate in the Joint Annual Meeting of Arab Financial Institutions, which will be held Friday in Rabat, Morocco, to discuss means of overcoming the development challenges faced by the region.Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini will lead the...

Germany, the EU's biggest economy, saw growth stagnate at zero percent over the previous quarter. Year-on-year, Germany was the only country in the single-currency zone to record a contraction, of 0.1 percent.

The consolidated revenue rose 13 percent to $24.2 million.

The US is "showing that one cannot engage in this sort of awful behavior of using human beings as pawns, as bargaining chips, without paying consequences," said a senior US official. Both agencies have already been hit with punitive measures by the US State and Treasury Departments in the past.

The company reported record full-year sales of 11.5trn yen.

The crucial semiconductor industry, that powers everything from personal computers, smartphones to fighter jets, suffered a dismal first quarter as demand plummeted for chips. Intel, one of the world's leading semiconductor makers, was also affected by falling demand for chips that power data centers and is struggling to compete with...

Wall Street stocks pushed higher despite data that showed US economic growth is slowing, which raised fresh questions about interest rates hikes. The dollar rose against the euro and yen after the data showed US gross domestic product rose at an annual rate of 1.1 percent in the January to...

Tunis, Tunisia -- President Kais Saied has called for the revival of Tunisia's phosphate industry, suggesting he will seek alternative sources of revenue that would allow the country to do without a foreign bailout."Our gold is underground while the country is facing a difficult financial situation," Saied told a meeting Wednesday...

Meta reported a profit of $5.7 billion in the first quarter of this year, beating forecasts after a massive wave of cost-cutting and layoffs.

US economic growth lost steam in the first quarter this year, said the Commerce Department, as the possibility of a mild recession brews while consumer spending weakens. Consumption provided a boost to the world's biggest economy, giving it a strong start to 2023, but banking sector turmoil and rising interest...

The bank's profit was boosted by rising interest rates.

Inflation pushes the consumer goods giant to hike prices.

Amman, Jordan-- Jordan's King Abdullah has called for enhancing the investment environment in the kingdom in order to propel economic growth and job creation.During a meeting at Al Husseiniya Palace on Wednesday to follow up on the implementation of the Investment Ministry’s action plan, King Abdullah highlighted the need to...

Vienna, Austria— Continuing with its initiative to support businesses across the world, the OPEC Fund for International Development (the OPEC Fund) is providing a US$50 million loan to Banco Continental in Paraguay for on-lending to small- and medium-sized enterprises (SMEs) in agricultural and livestock sectors.The investment is part of OPEC...

Abu Dhabi, UAE - A UAE delegation led by Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, visited Belgium, aiming to strengthen economic ties and promoting investment opportunities with Brussels and the wider European Union (EU).The delegation discussed growing trade relations with Vladis Dombrovskis, European Commissioner of...

New Delhi, India--India is looking to connect its power grid with Saudi Arabia and the UAE by way of undersea cables, according to Indian media, citing Union Minister for Power and Renewable Energy Raj Kumar Singh. The media reports said that India will sign bilateral agreements with Saudi Arabia and the...

Dubai, UAE— Dubai Electricity and Water Authority (DEWA) and Xanadu, a Canadian quantum computing company, are considering strategic cooperation in order to develop solutions for enhancing the reliability of energy systems.In this regard, Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), met with Dr....

Manama, Bahrain - Bahrain has reported a 4.09 percent increase in its real GDP in the fourth quarter of 2022 YoY, driven by a growth of 4.91 percent in the non-oil sector, as a result of its economic diversification initiatives.The high-achieving sectors include the financial corporations sector which grew by...

Riyadh, Saudi Arabia— Saudi Arabia has signed a memorandum of understanding (MoU) with Wemade, a South Korean firm, to boost its presence in the gaming sector.The agreement between the Saudi ministry of investment and Wemade will enable the South Korean firm to widen its footprint in the kingdom. Wemade is...

Abu Dhabi, UAE— More than 20,000 people visited the 20th edition of Abu Dhabi Festival in the first twenty days of March this year, drawing culture, arts, and music lovers from all walks of life.Held under the honorary patronage of Sheikh Abdullah bin Zayed Al Nahyan, the UAE’s Minister of...

US consumer confidence fell more than many predicted in April, fueled by a deterioration in expectations among Americans over 55 and households with annual incomes over $50,000, according to survey data released. The pessimistic results may ease some of the pressure on the Federal Reserve as it prepares to consider...

ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) and Wio Bank announced on Tuesday that would cooperate to transform how Small and Medium Enterprises (SMEs) manage their finances, payments, and their overall business operations.This partnership saves SMEs a significant amount of business operation time by fast-tracking...

Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has signed a sponsorship agreement with the Roads and Transport Authority in Dubai (RTA), allowing RTA to be the Platinum Sponsor of the World Green Economy Summit (WGES) for three sessions from 2023 to 2025.The Summit is organized by the World...

Tehran, Iran— Claiming that Iran has received numerous “requests” from different countries for purchase of its defense equipment and cooperation, Brigadier General Afshin Khajeh Fard has hailed the achievements in producing unmanned aerial vehicles (UAVs) and manned drones with fixed and moving wings.The brigadier general, the head of the Iran...

Dubai, UAE -Taking advantage of the boom in the tourism sector in the Middle East, Saudi Arabia and the UAE are engaged in frantic construction activity to build new hotels in order to cope with the rush of visitors.According to a report by STR, Saudi Arabia is involved in the...

London, UK— The UAE is looking to invest US$160 billion in the new economy sectors like renewable energy over the next three decades.This was stated by Abdullah bin Touq Al Marri, Minister of Economy, in his address at the 13th edition of the City Week 2023 Forum, in London, which...

Tehran, Iran— Iran has announced new sanctions against the UK and European Union “individuals and entities” for supporting what it terms as terrorist groups in the Islamic Republic.According to MEHR News Agency, sanctions have been imposed on 17 individuals and four entities for inciting and encouraging terrorist acts and violence...

Coca-Cola's profits came in at $3.1 billion, up 12% from 2022.

The total acquisition cost comes to US$26.7 million.

"German business's worries are abating, but the economy is still lacking dynamism," said Ifo president Clemens Fuest.

Doha, Qatar-- Qatar expects a big boost in hotel occupancy rates by at least 80 percent during the Eid holidays in the country.The boost is expected in the wake of the launch of the Haya platform in its new look, which allows 4 types of visas for visitors, and the...

The EU environmental agency said that air pollution is responsible for causing more than 1,200 premature deaths a year in under 18's across Europe and raises the risk of chronic disease later in life. It said that in spite of recent improvements, "the level of key air pollutants remain stubbornly...

It will acquire a portfolio of towers in Europe for US$1.3bn.

The firm was a regular on the Fortune 500 list of biggest American companies.

SHARJAH, UAE -  India is among the UAE's most significant investment partners, with substantial mutual investments. Iron and steel rank among the top commodities exported from the UAE to India, the director of Hamriyah Free Zone Authority (HFZA) said.HFZA director made the remarks after the team successfully participated in the...

MIYAZAKI, JAPAN  -  With hunger levels rising and food prices soaring in most of the world, collective actions are necessary for immediate and long-term global food security objectives, Food and Agriculture Organization (FAO) said on Sunday.Director-General of FAO Qu Dongyu made the remarks at the G7 Ministers of Agriculture Meeting,...

To meet the estimated energy demand from hydrogen and electric aircraft in 2050 would require the amount of energy produced from 10-25 of the world’s largest wind farms, or a solar farm half the size of Belgium, WEF says.

Beijing, China--Pummelled by a housing crisis that caused a record-breaking slump last year, some Chinese property developers are starting to see light at the end of the tunnel, but analysts warn the sector is still on course to slow down in the long term.The real estate industry grew at lightning speed...

Paris, France--EU foreign policy chief Josep Borrell called on European navies to patrol the disputed Taiwan Strait, in a opinion piece in a French weekly published Sunday.Borrell's comments in the Journal Du Dimanche, echo comments he made last week when he stressed how crucial Taiwan is to Europe.Taiwan "concerns us economically,...