Beirut, Lebanon--Lebanon intends to triple the tariffs it charges on imports in local currency, as the state seeks to boost its revenues amid a worsening economic crisis. Caretaker finance minister Youssef Khalil requested to change the rate at which customs fees are calculated from 15,000 pounds per U.S. dollar to...

Dubai, UAE -Dubai Land Department (DLD), represented by the Real Estate Regulatory Authority (RERA), has signed a memorandum of understanding with Al Ameen Service to boost cooperation. DLD is enhancing its vision by providing an innovative and sustainable global real estate model and an incubating environment for real estate innovation....

Washington, United States--FBI Director Christopher Wray said Tuesday his agency believes the Covid-19 pandemic was "most likely" caused by an incident in a laboratory in Wuhan, China. "The FBI has for quite some time now assessed that the origins of the pandemic are most likely a potential lab incident in Wuhan,"...

Doha, Qatar--Egypt and Qatar have signed an agreement to eliminate double taxation on income and prevent tax evasion and avoidance, according to a statement by the Cabinet on February 27. The agreement comes within the framework of bolstering bilateral economic relations and shoring up cooperation in several fields. It is...

Children in Iraq work as apprentice mechanics and rubbish collectors, in shisha cafes or hair salons, and washing car windows and selling paper tissues by the roadside. Employing children is punishable by prison time or a fine, but "with many families left without a breadwinner, mothers have been forced to...

Istanbul, Turkey -Turkey’s economy posted 5.6 percent growth in 2022, growing faster than expected last quarter as the government ramped up spending ahead of elections. Gross domestic product rose 3.5% in the October-December period from a year earlier. Growth for the whole year was 5.6%, state statistics agency TurkStat data...

In a show of solidarity with Iraq, UN head Antonio Guterres arrived in the country for the first time in six years, after a prolonged political crisis there. On arrival he said that he wanted to show solidarity with the people and the democratic institutions of Iraq, pledging support for...

The situation has been made worse by a crisis facing the agricultural sector, which makes up 14 percent of gross domestic product. The worst drought in four decades has been compounded in recent weeks by a snap of unusually cold weather. The government has boosted subsidies on some basic products...

The company recorded a revenue of $433 million for 2022.

Abu Dhabi, UAE -The Central Bank of the UAE (CBUAE) has revoked the licence of Dollar Exchange, an exchange house operating in the UAE and struck off its name from the Register, pursuant to Article 137 of the Decretal Federal Law No.14 of 2018 regarding the Central Bank and Organisation...

The company did not offer any explanation for the decision.

The World Bank warned that the continuing aftershocks are likely to increase the total amount of damage caused by the disaster. "This disaster serves as a reminder of Turkey’s high risk to earthquakes and of the need to enhance resilience in public and private infrastructure," said Humberto Lopez, the World...

The UN says more than 21.7 million people - two-thirds of Yemen's population -- need humanitarian assistance this year. Its appeal aims to reach the 17.3 million most vulnerable among them. Erin Hutchinson, the Norwegian Refugee Council's Yemen chief, said the world had "abandoned Yemen at this crucial crossroads" by...

Riyadh, Saudi Arabia--Saudi Arabia’s economic growth is expected to accelerate by 3 percent in 2023 backed by a robust non-oil sector.  According to a forecast by Riyad Capital, the output from this part of the economy will rise by 5 percent this year. The growth will be driven by a...

Elections were originally scheduled for December 2021, but were postponed indefinitely because of differences over controversial candidates and rules on participation. Since March last year, an administration in Libya's east backed by military leader Khalifa Haftar has challenged the UN-recognized government of Prime Minister Abdulhamid Dbeibah, arguing it has outlived...

Prime Minister Rishi Sunak and European Commission president Ursula von der Leyen adopted the deal at a meeting in Windsor, west of London. The deal follows more than a year of tense talks over the "Northern Ireland Protocol", which has unsettled the province 25 years on from a historic peace...

There might be a global slowdown in the property market, but thanks to Russian buyers, the UAE, in contrast, has seen a stunning growth in the sector.

Head of the ministry's foreign trade department Ronnarong Phoolpipat told a press conference that the value of rice exports rose 78.76% to $406.72 million in January year-on-year.

Riyadh, Saudi Arabia--The Saudi Ports Authority, also known as Mawani, has sanctioned five new shipping services that will link up the Kingdom with 43 international ports.  The five new services are projected to support commercial traffic, strengthen the national imports and exports system, as well as provide alternatives for importers, exporters, and shipping agents. In...

Amman, Jordan--The trade balance between Jordan and the US has recorded a surplus of about 625 million Jordanian dinars ($881 million) in 2022, according to a statement.    The volume of trade exchange between the two countries last year amounted to about 2.75 billion dinars, according to foreign trade data issued...

Sports, social and marketing events, including various global activities and competitions, are likely to bring in more Saudi tourists, Qatar Tourism's data suggest.

The World Health Organization on Sunday appealed for $392 million ahead of a UN-led donor conference in Geneva to avert the "potential collapse" of the health sector in war-torn Yemen. The call came with the Arabian Peninsula country in the throes of one of the world's worst humanitarian tragedies after...

For the first time in a decade, Egypt's Foreign Minister Sameh Shoukry will visit Syria and Turkey to show ""solidarity with the two countries and their brotherly peoples" after the powerful earthquake that hit the two countries earlier this month. The visit illustrates the gradual acceptance of the once-isolated Syrian...

AMMAN, JORDAN -  Chairman of the Jordan Senate's Committee for Arab, International Affairs and Expatriates Hani Mulki, on Sunday discussed with Vice President of French Senate, Helene Conway, the region's key political and economic developments. The two leaders also discussed political changes in the surrounding countries following Arab Spring. Mulki,...

Lebanese central bank chief Riad Salameh is accused of embezzling millions of dollars. He faces faces investigations related to suspicions of money laundering and illicit enrichment in Lebanon and abroad after he amassed a fortune in the country mired in financial crisis.

Jordan, the United Arab Emirates, Egypt and Bahrain announced the signing of 12 agreements and partnerships worth over US$2 billion for nine joint industrial projects. The announcement came following a meeting of the Integrated Industrial Partnership for Sustainable Economic Development. Jordan Prime Minister Bisher Khasawneh oversaw the signing of the...

SHARJAH, UAE - The Sharjah Airport International Free Zone (SAIF Zone) has signed a cooperation agreement with Al Ansari Exchange, to introduce a new payment service and enhance customer experience. The newly signed partnership will allow SAIF Zone’s investors and clients to conveniently pay fees at any of Al Ansari...

Istanbul, Turkey--Fears of another major earthquake have been rekindled in Istanbul since the February 6 disaster that hit Turkey and Syria, but a prominent Turkish seismologist has reassured the risk "hasn't increased". "The risk hasn't increased because we are talking about completely different systems," Dogan Kalafat, the director of the...

Abu Dhabi, UAE--The UAE has presented Syria with 10 state-of-the-art ambulances, as part of Operation Gallant Knight 2 and the UAE's ongoing efforts to aid the quake-hit Syrian people. Dr. Salem Al Falasi, who is in charge of following up on the needs of the health sector in Syria, said...

Abu Dhabi, UAE--The 15th session of the joint UAE-Algeria Economic Committee has been held in Abu Dhabi under the chairmanship of Abdullah bin Touq Al Marri, Minister of Economy, and Algerian Minister of Industry, Ahmed Zaghdar, in the presence of Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for...

ABU DHABI, UAE -  Minister of State for Financial Affairs Mohamed Hadi Al Hussaini headed the UAE delegation participating in the first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in 2023. Held for the first time under the Indian presidency in Bengaluru, the meeting discussed the progress under...

PARIS, FRANCE -  Governments should urgently adapt their health systems to better respond to future shocks, given the huge impact of the COVID-19 pandemic on people and the global economy. Major investment is needed in the health workforce, alongside increased spending on prevention and digital infrastructure, according to a new...

It will also close down several units in Ludwigshafen.

New Delhi, India--German Chancellor Olaf Scholz arrived in India on Saturday seeking to deepen business ties between the world's number four and five economies and push for progress on an EU trade deal despite differences over Ukraine. "We want to further strengthen our bilateral relationship with India and our cooperation on...

Beijing, China--China's international trade in services stood at 459.5 billion yuan, or US$ 67.6 billion, in January, official data showed on Friday, Xinhua News Agency reported. Services exports totalled $25.44 billion last month, and services imports were at $40.50 billion, resulting in a trade deficit of $15.50 billion , according...

Abu Dhabi, UAE--The Emirates Defence Companies Council (EDCC) and the Canadian Business Council (CBC) in Abu Dhabi signed a Memorandum of Understanding (MoU), aimed at accelerating cooperation and identifying business opportunities in defence industries. The MoU was signed today at Tawazun Council Chalet in IDEX and NAVDEX 2023, currently held...

"We utilise all forms of clean energy to cut carbon emissions and mitigate the worst impacts of climate change. The UAE’s approach is showing tangible benefit, with over 5.5mT of carbon emissions removed for every unit brought into commercial operation at the Barakah plant," adds Mariam bint Mohammed Almheiri.

Companies will emphasize less on diversification and disruptive offerings this year, predict chief executive officers in the Gulf region.

DUBAI,  UAE -  Dubai Chamber of Commerce organized a Corporate Tax Workshop to help participants navigate the new regime, with expert advice from senior members of corporate tax and legal teams at PwC Middle East. After issuing the UAE issued Federal Decree-Law No. 47 of 2022 on Taxation of Corporations...

Israel's government approved the 2023-2024 budget against the backdrop of economic uncertainty linked to controversial judicial reforms advanced by the government of Prime Minister Benjamin Netanyahu. The government had been expected to adopt the budget during a cabinet meeting Thursday, but talks ran late into the night and also took...

ABU DHABI, UAE -   UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan and Algerian Minister of Industry Ahmed Zeghdar discussed enhancing cooperation in the economic, industrial and commercial sectors between the two countries.    In a meeting between Sheikh Abdullah and Zeghdar in Abu...

The surplus for Q4 2022 was 3.18 billion, compared to a deficit of $0.90 billion in the same quarter of 2021.

The EU measure will last for six months and was taken "in view of the gravity of the humanitarian crisis in Syria exacerbated by the earthquake". The massive 7.8-magnitude quake on February 6 has killed more than 42,000 people in Turkey and more than 3,600 in Syria.

The third meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development will take place in Jordan's capital Amman.

New tracks have been launched in the Gulf common market to supplement the 10 current tracks. The bloc also seeks collaboration with the private players in the region.

Dubai, UAE - Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, has launched six business groups within the F&B industry for HORECA traders, meat and poultry, bakeries, organic food, groceries as well as hypermarkets and supermarkets sectors. “We are on track to reach our goal...

Turkey was already battling runaway inflation and relying on wealthy allies to keep its economy afloat when the massive earthquake on February 6 killed more than 43,000 people, razed entire cities and left millions needing urgent help.

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The bilateral ties between the two countries were further strengthened after the inauguration of the UAE Embassy in the Azeri capital, Baku, in 2011, and have witnessed advancement due to the mutual keenness of their leaderships, he adds during an interview with Emirates News Agency.

Dubai, renowned for its towering skyscrapers and ultra-luxury villas, saw record real estate transactions in 2022, largely due to the influx of wealthy investors - especially from Russia. That helped to rake in more than $140 billion last year, marking a 76 percent annual rise in property market transactions for...