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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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,...

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...

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 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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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.