Credit Suisse pushed forward its result release to come out the day before those of UBS, as Switzerland's largest bank prepares to swallow its long-time main domestic rival. The results, which will be presented in a statement without the usual accompanying press conference and analyst discussion, will be closely studied...

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded first place in UAE Ministry of Energy and Infrastructure’s ‘Research and Innovation Award’ in the government sector category for its contributions in the field of balanced national energy.The award recognizes DEWA's consistent efforts in research, development and innovation.The...

New York, United States -  Qatar wants to put the private sector at the centre of its 2030 Agenda for Sustainable Development, the country’s Permanent Representative to the UN Sheikha Alya Ahmed bin Saif Al-Thani said at a UN event on sustainable development on Friday. Speaking at a panel discussion titled...

Abu Dhabi, UAE--The Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) accounted for nearly 20 percent of the Arab exchanges' liquidity in last week’s trades.According to a Arab Monetary Fund (AMF) weekly newsletter, Arab exchanges attracted liquidity amounting to nearly US$10.28 billion last week, of which ADX...

Signaling its resolve to keep fighting price rises, the US central bank has said that interest rates may need to increase further, and remain high, to control inflation. The Fed has raised its benchmark lending rate nine times in a row to tackle inflation, which remains well above its long-term...

TRENDS Twitter poll suggests 48% candidates face discrimination during job recruitment process in the Gulf region, while 30% do not, and 22% remain unsure.

Cyrus de la Rubia, chief economist at Hamburg Commercial Bank (HCOB), said the indices for the eurozone showed "a very friendly overall picture of an economy that continues to recover" but warned "a closer look reveals that growth is very unevenly distributed". Inflation fell to 6.9 percent on an annual...

The facility will begin producing 10 million cubic metres of gas daily in a first phase - which Erdogan said is expected to reach 40 million cubic metres daily after other wells go into operation. Experts say 10 million cubic metres of gas per day would meet around six percent...

Starship, the most powerful rocket ever built, exploded during its first flight, but Elon Musk congratulated his SpaceX team on an "exciting" test of the spacecraft. The uncrewed rocket disintegrated minutes after successfully blasting off at 8:33 am Central Time (1333 GMT) from Starbase, the SpaceX spaceport in Boca Chica,...

GENEVA, SWITZERLAND - The World Trade Organization (WTO), the World Bank Group (WBG) and the World Economic Forum (WEF) on Thursday launched an initiative to help developing economies meet their climate change mitigation and adaptation goals through trade.The initiative Action on Climate and Trade (ACT) . which starts with a...

The European Parliament approved the comprehensive rules to regulate the "Wild West" world of cryptocurrencies, hoping to protect investors against abuse and manipulation. EU member states have already backed the legislation covering cryptoassets, including cryptocurrencies such as bitcoin and ethereum and other tradable tokens whose value is secured using blockchain...

A grim UNICEF report warns of a potential outbreaks of polio and measles in children who didn't get vaccinated because of the disruptions caused by the Covid pandemic. The report said that more than" a decade of hard-earned gains in routine childhood immunization have been eroded" and that getting back...

Seeking a "durable way forward" for the war-scarred Afghanistan, the UN Secretary-General Antonio Guterres is convening an international meeting in May. The closed-door gathering will feature special envoys on Afghanistan from various countries who aim to "clarify expectation" on concerns including the Taliban authorities' restrictions on women.

In one of the deadliest stampedes in a decade, more than 80 people died and hundreds were injured at a charity distribution event in Yemen, according to Houthi officials. The tragedy struck the Arabian Peninsula's poorest country a few days before Eid al-Fitr. A Houthi official said many women and...

The warning from the boss of the financial giant follows the dollar having already dropped 10 percent from its peak hit last year and after it hit lowest level in a year against the euro last week.

Net financing and sukuk investments stood at $65.35bn.

Firms will work together on nuclear, renewable energy.

FRANKFURT, GERMANY - More eurozone interest rate increases will be appropriate to tame high inflation if conditions remain as expected, the European Central Bank's chief economist said Wednesday.The ECB has hiked rates by 3.5 percentage points since July last year in an unprecedented campaign of monetary tightening to bring soaring consumer...

The bank's net profit vaulted to US$15mn in Q1, up 80%.

The emirate still remains at the top of the list of places to visit in the region because of the sheer diversity of products it has to offer and the infrastructure it has built.

Paris, France--Sales of new cars jumped last month in Europe, surpassing the level of one million for the first time since June 2021, according to data from the European Automobile Manufacturers Association published on Wednesday.New car registrations hit 1,087,939 in March, an increase of 28.8 percent from the same month last...

The US airline posted a quarterly loss of US$194mn.

The kingdom hopes that its regulatory incentives and strategic location would help it compete with the UAE, whose tax-free zones such as Jebel Ali have made it a regional hub for multinational corporations.

Baghdad, Iraq--Iraqi police arrested overnight almost 200 people in raids on illegal casinos where alcohol was served in defiance of the Muslim fasting month of Ramadan, the interior ministry said Tuesday.The raids targeted four locations in Baghdad where games of blackjack and roulette had been underway, ministry spokesman Saad Maan said.A...

With the cash-strapped country mired in an unprecedented economic meltdown, Lebanon's parliament on Tuesday put off municipal elections scheduled for next month, according to official media. The country has for the second time postponed polls, after they were initially scheduled to take place last year. No new date has been...

Move after GSK demerged its consumer healthcare unit.

Firm announced that it would slash 8,500 jobs worldwide.

Tokyo, Japan--Abu Dhabi National Oil Company has signed two agreements with Japanese partners to strengthen the low-carbon hydrogen value chain between the UAE and Japan.The signing of the deal was witnessed by the UAE’s Minister of Industry and Advanced Technology Sultan Al Jaber and Japan’s Minister of Economy, Trade and Industry NISHIMURA Yasutoshi.The...

Rabat has pledged that prices will soon fall, and announced several initiatives to tackle market speculation, but government spokesman Mustapha Baitas said the measures "have not had the expected results." In an attempt to stem the price rises, Rabat suspended exports of some products in early February, including tomatoes, to...

Dubai, UAE -- The World Bank and Jordan have signed two financing agreements worth $650 million for the programs of inclusive, transparent and climate-responsive investments in the kingdom besides enhancing the efficiency of the electricity sector in the kingdom.The agreements were signed on behalf of the Jordanian government by Minister...

Beijing, China--China's economy grew much better than expected in the first three months of the year as the country reopened after the end of zero-Covid measures, official data showed Tuesday.The figures were the first snapshot since 2019 of the world's second-largest economy unencumbered by the strict health controls that helped keep...

Riyadh, Saudi Arabia--ACWA Power will construct a 1,000 megawatt solar power plant in Iraq, the first clean energy project in the country.    According to its electricity minister, the joint venture project will be developed in Central Iraq’s Najaf city, around 160 km south of the capital, Baghdad.  “The Saudi firm has agreed to build...

Net profit reported by the companies jumped to a record high of US$ 273.3 billion in 2022,  compared to US$ 199.0 billion in 2021, according to a new report by Kamco Invest.

Riyadh, Saudi Arabia-- Saudi Arabia and the Netherlands have discussed the possibility of exporting clean hydrogen from the kingdom to Europe.In this regard, Energy Minister Prince Abdulaziz Bin Salman met with the Deputy Prime Minister and Minister of Foreign Affairs of Netherlands Wopke Hoekstra in Jeddah.The meeting also touched on...

The Observatory, which has a wide network of sources on the ground in Syria, said fighters riding motorbikes also attacked a group of shepherds in the eastern province of Deir Ezzor, killing five and seizing their livestock. Two other shepherds were kidnapped, the war monitor said.

Doha, Qatar-- Inflation in Qatar rose by 4.01 percent year-on-year in March, because of a rise of prices across eight categories, according to data released by the Planning and Statistics Authority.  The Consumer Price Index of March 2023, which is a broad measure of inflation, reached 105.55 points, up by 0.20...

The US$11bn deal will drive drug company's growth.

Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has won the Hydrogen Project of the Year 2023 Award for its green hydrogen project aimed at promoting the transition towards renewable and clean energy at the Hydrogen Future Awards 2023.The Hydrogen Future Awards was organized during the "Connecting Green Hydrogen...

BAGHDAD, IRAQ - Iraqi Prime Minister Muhammed S. Al-Sudani chaired a meeting focused on discussing the provisions of the federal budget bill submitted to the Parliament. The meeting was attended by Parliament Deputy Speaker Muhsin Al-Mandalawi, Parliament Deputy Speaker Shakhwan Abdullah and MPs of the Parliamentary Finance Committee, as well...

Prince Mohammed said the latest transfer will "solidify PIF's strong financial position". Authorities did not give a value for the latest shares, which have been moved from the world's biggest oil exporter to Sanabil Investments, a firm controlled by the Public Investment Fund (PIF) that is led by Crown Prince...

Brussels, Belgium--Depending on which side you're on, tech giant Microsoft is either the hero fighting to bring some of the most popular video games to more people, or the villain on the brink of killing competition in the sector.The Xbox-owner has embarked on a campaign to convince all three EU, UK...

Abu Dhabi, UAE - The UAE is among the largest international investors in Brazil, with an estimated US$5 billion in Emirati investments in South American country, with the presence of major Emirati companies such as Mubadala, the largest Emirati investor in Brazil, DP World, Emirates Airlines, First Abu Dhabi Bank,...

A statement put out by G7 said the phase-out will be achieved by "promoting sustainable consumption and production of plastics, increasing their circularity in the economy, and environmentally sound management of waste". German Environment Minister Steffi Lemke hailed the bloc's new plastic pollution pledge as an "ambitious goal".

Dubai, United Arab Emirates--A fire in a residential building in Dubai killed 16 people and injured nine others in the wealthy Gulf emirate, local media reported.The fire broke out at midday Saturday on the fourth floor of the building in the Al-Ras neighbourhood in the old part of the city.The civil...

Still predicting "moderate GDP growth, US treasury secretary has affirmed that the country's banks may be more cautious in granting loans after recent turmoil in the sector, she said In an interview to be aired on Sunday. The dramatic collapse of Silicon Valley Bank and Signature Bank shook the financial...

ABU DHABI, UAE - Brazilian President Luiz Inacio Lula da Silva arrived here Saturday, following a two-day visit to China to strengthen economic and diplomatic ties.The UAE's energy and infrastructure minister, Suhail bin Mohammed al-Mazrouei, welcomed the Brazilian leader at Abu Dhabi airport, local media reported.Lula, who in January returned to...

Sapporo, Japan--G7 allies kicked off two days of "difficult" climate talks in northern Japan on Saturday, facing pressure to show progress on key fossil fuel commitments in an example to other major economies including China.Campaigners have warned climate and environment ministers from the group of developed countries against backsliding on pledges...

Dubai, UAE -  Dubai has issued a law to regulate the operations of autonomous vehicles in the city. The new law aims to accelerate the city's smart mobility transformation, attract investments in the sector and provide a regulatory environment that facilitates the use of artificial intelligence (AI) in transportation.The new...

Abu Dhabi, UAE--Presight AI and the Ministry of Communication, Telecommunications and Digital Economy of the Republic of Senegal (MCTEN), have signed a Memorandum of Understanding (MoU) to accelerate digital transformation initiatives and economic benefits for the citizens of Senegal.Under the agreement, Presight will work closely with MCTEN to support and...

Abu Dhabi, UAE--Credit facilities provided by national banks to the business and industrial sector rose 5.2 percent on a YoY basis to $9.61 billion by the end of last January, according to figures revealed by the Central Bank of the United Arab Emirates (CBUAE).The apex bank's figures showed that the...