Following last month's rail tragedy, Greece's prime minister said that he would discuss with Italy safety improvements on Geek trains run by an Italian state company. The Prime Minister Kyriakos Mitsotakis told reporters that he will discuss the way in which the Italian government will be able to support the...

BRUSSELS, BELGIUM - Economic growth in the eurozone accelerated in March and hit a 10-month high, according to a closely watched survey published on Friday, despite turmoil in the markets and concerns over banks.The S&P Global Flash Eurozone purchasing managers' index (PMI) showed the indicator at 54.1, up from 52.0 in...

Kwon, whose full name is Kwon Do-hyung, has been accused of fraud over his company's dramatic collapse last year, which wiped out about $40 billion of investors' money and shook global crypto markets. The 31-year-old was arrested at the Podgorica airport in Montenegro on a South Korean warrant, the country's interior...

New Delhi, India--India's Patent Office rejected on Thursday US pharmaceutical giant Johnson and Johnson’s application to extend its patent on a key  tuberculosis treatment, allowing local companies to make cheaper generic versions.India accounted for nearly 29 percent of 10.6 million tuberculosis cases worldwide, according to the World Health Organization’s (WHO) 2022...

It will slash 2.5% of workforce as a cost-cutting effort.

Doha, Qatar--Doha port received on Thursday the cruise ship MSC World Europa carrying 5,613 tourists and a crew of 2,121. They will be joined later by 555 tourists from Doha to a new itinerary to a number of tourist stops in the region.The cruise sector in Qatar has contributed to...

The deal is designed to enhance Saudi digital transformation.

Lebanon and the IMF reached a conditional agreement in April 2022 on a $3-billion-dollar loan needed to save the country's economy, in free fall since 2019. But nearly a year after Beirut signed the agreement, officials have yet to enact the substantial changes required to kickstart the 46-month financing program.

Trade in such goods grew by around four percent in the second half of 2022, with their combined value hitting a record $1.9 trillion by the end of the year, UNCTAD said -- over $100 billion more than in 2021. Among the products that performed especially well were electric and...

The acceptance follows years of turmoil for the company.

Cairo, Egypt--The World Bank has approved a new $7 billion partnership agreement with Egypt for 2023-2027 with a focus on boosting private sector jobs, provision of better health and education services, and adaptation to climate change.The Country Partnership Agreement (CPF) will entail $1 billion per year from the International Bank...

Doha, Qatar-- Qatar has recorded $660 million worth real estate trading in sale contracts during the month of February.The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that (382) real estate transactions were recorded during the month.Compared to January 2023, the real estate index...

Abu Dhabi, UAE--ADQ has launched a vertical farming project in partnership with ZERO, a technology company based in Italy.Dubbed as the ZERO project, it is the first of several controlled environment agricultural concepts that will be housed in the AgTech Park and will aim to enhance indoor farming locally, as...

In a crackdown on organized crime, Algeria has dismantled an international network specializing in trafficking people through Algeria to Europe, according to local media reports. The agency tasked with fighting crime arrested nine Syrians and six Algerians suspected of belonging to the group which trafficked Syrians and Lebanese.

The ECB president insisted, however, that if the most recent forecasts were confirmed, "we will still have ground to cover to make sure that inflation pressures are stamped out".

Lebanon's economic meltdown, described by the World Bank as one of the worst in recent global history, has plunged most of the population into poverty, according to the UN. Many of the hundreds protesting on Wednesday were retired servicemen whose army pensions have lost most of their value, and depositors...

There is a need for more regulations in the cryptocurrency industry to prevent immoral and aberrant behavior, says Anthony Scaramucci, former White House Communications head.

European Union foreign policy chief Josep Borrell had warned Monday that if crisis-torn Tunisia "collapses economically or socially then we will be in a situation where new flows of migrants will come to Europe". An EU delegation arrived in Tunisia on Tuesday to examine "the political and socio-economic situation" and...

Washington, United States--Syria's economy is expected to contract 2.3% more than it otherwise would have due to the impact of last month's deadly earthquakes, the World Bank said on Monday.The earthquake and its aftershocks killed more than 50,000 people in Turkey and Syria, and displaced millions more."The recent earthquake exacerbates the...

New Delhi, India - The first ever meeting of senior officials of India and the Gulf Cooperation Council (GCC) was held in Riyadh on Monday, the Indian Ministry of External Affairs here announced.India has been steadily stepping up institutional engagement of the GCC in addition to regular bilateral meetings with...

Brussels, Belgium--The European Investment Bank today pledged $535 million in earthquake reconstruction and recovery package for Turkey and Syria at the donors’ conference convened in Brussels by the European Commission and Swedish Presidency of the European Council.The EUR 500 million support from EIB Global, part of broader European Union financing...

Days after SVB's collapse this month, the Treasury Department, Federal Reserve and Federal Deposit Insurance Corporation (FDIC) announced that its depositors -- along with those of Signature Bank -- would have access to their money. But officials were quick to add: "No losses will be borne by the taxpayer."

The online retail giant axed 18,000 jobs in January.

International Monetary Fund predicts economic growth in the Middle East and North Africa will fall to 3.2% this year from 5.4% in 2022, before rising to 3.5% next year.

Firm said non-monetary factors played a role in earnings.

FRANKFURT, GERMANY -  The European financial system is "resilient" and has sufficient liquidity, the European Central Bank said Monday, as banking shares plunged following the announcement that UBS would take over troubled rival Credit Suisse."The European banking sector is resilient, with robust levels of capital and liquidity," the ECB said in...

Signature Bank was seized by the Federal Deposit Insurance Corporation (FDIC) a week ago after it imploded in the wake of the collapse of Silicon Valley Bank (SVB) earlier in March, a failure that has sent convulsions through the global banking sector. The FDIC is also seeking a similar deal...

Amman, Jordan--A government-sponsored program in Jordan has helped place 20,000 people into private sector jobs since its launch in April 2022.According to the Jordan News Agency (Petra), the National Employment Program (Tashgheel) has helped 673 men and 877 women, who are beneficiaries of the National Aid Fund, secure employment in...

New Delhi, India--Japanese Prime Minister Fumio Kishida arrived in India on Monday for talks expected to focus on deepening trade and technology ties as well as shared concern about China.India and Japan along with the United States and Australia make up the Quad alliance, which positions itself as a bulwark against...

The PIF-owned firm looks to deepen investment in recycling.

Manama, Bahrain: Aerolam Middle East and Titan Company are set to launch their operations in Bahrain with a total investment of  $45 million.This was was announced during the recent high-level Bahraini delegation visit to India this week, which was organised to highlight investment opportunities in Bahrain across priority sectors.A part...

Riyadh, Saudi Arabia--Saudi Arabia and Turkey have signed three agreements in the industrial sector during the Turkish Export Products Trade Fair in Riyadh.Saudi Minister of Commerce, who is also Chairman of the Board of Directors of the General Authority for Foreign Trade, Dr. Majid bin Abdullah Al-Qasabi, met here yesterday...

Renewing their commitment to "continuing to strengthen bilateral relations", Egyptian President Abdel Fattah al-Sisi met with a senior Russian delegation in Cairo, in spite of calls by Western powers to isolate Russia over its invasion of Ukraine last year. Egypt has maintained relations with Russia in part to mitigate the...

The central banks will step up so-called swap line operations, which give non-US central banks greater access to dollars. "To improve the swap lines' effectiveness in providing US dollar funding, the central banks currently offering US dollar operations have agreed to increase the frequency of 7-day maturity operations from weekly...

The mutual investments between the two countries are witnessing continuous growth in various economic and commercial sectors, most notably real estate, logistical transportation, storage, financial services, insurance activities, manufacturing and information technology.

Doha, Qatar--In a sign of growing business ties between Qatar and France, trade between the two countries has increased by 165 percent to $4.5 billion in 2022, compared with $1.70 billion in 2021.Qatar Chamber recently participated in the Arab French Economic Summit 2023 which was held in Paris under the...

Riyadh, Saudi Arabia-- The market capitalization of Tadawul, the Saudi stock exchange, has shot up 477 percent to $2.6 trillion during the last five years.According to Yazid Al-Dumaiji, the Capital Market Authority’s (CMA) Undersecretary for Strategic and International Affairs, the exchange takes the ninth place among the world’s stock markets...

Turkey announced the extension of a deal that has allowed exports of Ukrainian grain to resume following Russia's invasion, but it was unclear if it had been prolonged for 60 or 120 days. Russia said it had agreed to a 60-day extension, while Ukraine's infrastructure minister said the deal had...

AMMAN,  JORDAN -  Vice President of the Jordan Chamber of Commerce (JCC) Jamal Rifai discussed with Hungarian Ambassador to Jordan Attila Kali ways to develop joint economic and trade relations and the role of commerce chambers in strengthening them. According to a JCC statement on Saturday, the meeting went over...

New Delhi, India--India has stepped up multi-faceted consultations with GCC states ahead of the Group of Twenty (G20) Summit to be held in New Delhi in September under its presidency.A 12th round of India-Oman Strategic Consultative Group meeting in Muscat “reviewed bilateral ties in different domains and identified new areas...

Riyadh, Saudi Arabia -- The global credit rating agency S&P Global Ratings updated its credit report for Saudi Arabia, raising its long and short-term foreign and local currency sovereign credit ratings to 'A/A-1' with a stable outlook, the Saudi Press Agency (SPA) reported Friday.Moody's, a rival ratings agency, also stated that Saudi Arabia's plans will support it despite fluctuating oil prices and a global shift to renewable energy. Moody's also has changed the kingdom's outlook ...

It will dole out cash dividends to the tune of US$601m.

Dubai, UAE-- Consumer spending in the UAE has shot up 19 percent in 2022 as against the previous year, according to Majid Al Futtaim's "state of the UAE retail economy" Q4 report.There was a notable 13 percent growth in spending across the retail economy for the full year including, leisure...

TOKYO, JAPAN - The ninth session of the Abu Dhabi-Japan Economic Council (ADJEC) here has reaffirmed its commitment to further enhance partnerships and benefits from investments opportunities.Chairman of Abu Dhabi Department of Economic Development (ADDED) Ahmed Jasim Al Zaabi and President of Japan Cooperation Center for the Middle East (JCCME)...

The UAE and Georgia signed a joint statement confirming the successful conclusion of negotiations towards the UAE-Georgia Comprehensive Economic Partnership Agreement (CEPA). UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi and Vice Prime Minister and Minister of Economy and Sustainable Development of Georgia Levan Davitashvili...

Lebanese central bank governor Riad Salameh maintained his innocence following a second day of questioning before European investigators in Beirut as part of a probe into his personal wealth. Salameh, 72, is part of the Lebanese political elite widely blamed for a crushing economic crisis that began in late 2019.

A multi-plural world that embraces diversity and contradictions is crucial for peaceful coexistence free of conflicts, Prof Subramanian Rangan of INSEAD tells TRENDS.

The Fed had unveiled the scheme alongside the Treasury and the Federal Deposit Insurance Corporation on Sunday night, as authorities looked to prevent other banks from running into the liquidity issues that ultimately doomed California's SVB. According to data made available Thursday, the Fed drew an additional $152 billion in...

ABU DHABI, UAE - Bharat Dynamics Limited (BDL), a Defense Public Sector Undertaking under India's Ministry of Defense appointed EDGE's GradeOne as an official channel partner.The handing over of the Authorization Letter occurred during the International Defense Exhibition (IDEX) held in Abu Dhabi from February 20-24.Khalifa Al Ali, Managing Director...

The firm's revenue rose 14 percent to nearly US$2.4 billion.