Dubai, UAE---The Central Bank of UAE Sunday launched Financial Infrastructure Transformation Program (FIT program) to accelerate the digital transformation in the financial services sector.In a statement, the bank said the FIT is a step towards enabling the CBUAE to be among the top central banks globally. The program aims to...

On his upcoming trip, Raisi is expected to hold private talks with Xi, and delegations from both countries are due to sign "cooperation documents", according to Iranian media agency.

Speaking at the Arab Fiscal Forum in Dubai, the head of the IMF Kristalina Georgieva stated that public debt in MENA is a "concern" and that governments in the region ought to create resilience by way of fiscal policies in order to protect against shocks. She also called for boosting...

Monday's 7.8-magnitude tremor struck Kahramanmaras in the country's southeast, unleashing catastrophe in the region and Syria, killing at least 28,000 people. Anguished families flock to sports halls, hospital morgues or cemeteries in the severely hit city -- where bodies are piling up -- in a bid to find their missing...

More than a hundred hours after two earthquakes killed more than 23,000 people, an Emirati rescue team has pulled alive two people from under the rubble in Turkey. One man believed to be in his 50s or 60s and an 11-year-old child were rescued in the Kahramanmaras province, close to...

Dubai, UAE--Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has organised a workshop designed to bring key players, investors and related parties together to discuss the future of this nascent sector.The workshop, held at Dubai Chambers headquarters, included a lively roundtable session, where attendees...

Cairo, Egypt--The Arab Parliament on Saturday endorsed a proposal submitted by Jordan's Lower House Speaker Ahmad Safadi, stipulating the establishment of a regional center for food security in Jordan, Speaking at the Arab Parliament fifth conference on Saturday, Safadi said Jordan can facilitate and coordinate Arab and international action, and...

The Gulf International Laboratory aims to localize industries, enhance local content and build capabilities to boost competitiveness of the Kingdom's economy.

The earthquake is estimated to have made some 5.3 million people in Syria homeless, which rocked the region this week, according to a United Nations official. The homeless people, according to the official, will need shelter assistance across the country. Quake survivors have flocked to camps set up for people...

Brent, the international benchmark, and its US counterpart WTI, which had been down earlier in the day, jumped more than two percent after Russian deputy prime minister Alexander Novak said production would be cut by 500,000 barrels per day, or five percent of output, in March. "Crude prices reacted positively...

The capital will finance PIF's green investments.

The company recorded a full-year revenue of $192m in 2022.

Dubai, UAE-- Emirates SkyCargo and Air Canada Cargo have inked a Memorandum of Understanding (MoU) to provide additional benefits to its global air cargo clients.The MoU was signed at Emirates Headquarters in Dubai, UAE, by Nabil Sultan, Emirates Divisional Senior Vice President, Cargo, and Matthieu Casey, Managing Director Commercial, Air...

As the number of companies operating in the industry expected to exceed 2,500, the sector is likely to create 450,000 job opportunities in the Kingdom.

DUBAI, UAE - As many individuals in the UAE face challenges in balancing work and family obligations, parent-friendly workplace policies allow parents to care for their children’s well-being, benefiting individuals, the economy and society as a whole.This was one of the key takeaway messages from a webinar organized by the...

SHARJAH, UAE - Financial innovation and technology trends in global financial services sector were in the spotlight during a panel session at the sixth edition of the Sharjah Investment Forum (SIF).Moderated by Goncalo Traquina, Head of Management Consulting in Financial Services, KPMG, panellists Eric Yang, CEO of MaskEX, Mirna Selman,...

Revenue rose as countries boost military spending.

The 7.8-magnitude quake struck as people slept early Monday, with Turkish officials saying that over 70,000 people have been injured across 10 southeastern provinces hit hardest by the disaster. "We are providing immediate assistance and preparing a rapid assessment of the urgent and massive needs on the ground," said World...

More than 17,500 people have died so far in the 7.8-magnitude earthquake that struck Turkey and Syria.

The firm's revenues rose to US$44.4 billion in 2022.

Revenue climbed by 17 percent to a record US$31.8 billion.

Profit was affected as demand for steel fell and production hit.

Riyadh, Saudi Arabia-- Saudi Arabia's industrial production index (IPI) for December 2022 witnessed a 7.3 percent increase compared to the same period last year.A surge in mining, quarrying, and manufacturing activity helped the growth in IPI, according to a report published by Saudi General Authority for Statistics (GASTAT).The results of...

"An effective partnership model between the public and private sector in Dubai has helped transform innovation into a culture that has enhanced the UAE’s competitiveness. Innovation has also helped in formulating strategies and unlock new achievements,” Al Basti adds.

Its profit rose to $42m during 2022 as against $38m in 2021.

Its operating profit rose by 12.5 percent to $24 billion.

Cairo, Egypt-- Moody's has lowered Egypt's sovereign rating by one notch to B3 from B2 on Tuesday, citing the country's reduced external buffers and shock absorption capacity.The agency changed its outlook for Egypt to stable from negative."Moody's does not expect Egypt's liquidity and external positions to rebound quickly," the agency said.Also...

Washington, United States--The United States said Tuesday it was working with partners to provide earthquake relief in Syria but would stand firm against working with the Damascus government.The United States also said it expected to send further assistance to Turkey after sending two rescue teams to the NATO ally, which suffered...

Dubai, UAE-- The three-day long dental conference has got underway in Dubai, bringing together leading experts in dentistry and oral health professionals from around the world.Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Academic Health Corporation and Chancellor of the Mohammed Bin Rashid University of Medicine and Health Sciences,...

Soldiers, rescuers and residents of Aleppo's Bustan al-Qasr neighborhood used pickaxes and shovels to free survivors trapped under the debris of collapsed buildings.

The event is predicted to bring in over 7,000 professional visitors when it takes place at Dubai World Trade Centre from May 16 to 18.

A day after the powerful earthquake devastated Turkey and Syria, Iraq's autonomous Kurdistan region has said that it resumed oil exports through Turkey after suspending them as a precaution in the wake of the quake. The Kurdish ministry of natural resources said the oil exports restarted via the pipeline connecting...

Sharjah is a gateway to the markets of the Gulf region, with a GDP of US$1.6 trillion. It provides a solid business base for investors through six free zones and 33 industrial zones with various specialisations, which are all linked to convenient land, sea and airports, he adds.

US trade gap widened to a record in 2022, though expanding less than expected in December, government data said, capping off the year on robust imports and strong spending. The overall trade gap grew US$103 billion from 2021 to $948.1 billion last year, according to Commerce Department data, on a...

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) has updated its strategic plan, adding achieving net-zero by 2050 to its vision.This move is as per its commitment of keeping pace with the government plans and strategies that aim to achieve net-zero by 2050 and the UAE’s efforts to promote...

ABU DHABI, UAE - The General Pension and Social Security Authority (GPSSA) of UAE has announced its key strategic objectives for 2023.The authority said that it will focus on raising awareness on insurance among Emirati employees, serving the community with utmost promptness and professionalism, while reinforcing the UAE Pension Authority’s...

Lebanese Banks Association is demanding a capital control law that would enshrine informal restrictions on withdrawals in hard currency and Lebanese pounds.

Hours after the earthquake killed at least 1,000 people and caused massive level of destruction in Syria, the UAE has pledged humanitarian assistance worth around $13.6 million to the war-scarred country, according to state media. The quake struck near the Turkish city of Gaziantep on Monday, killing more than 1,651...

Israeli premier Benjamin Netanyahu says the 'reform', which will give Israel's parliament the power to override court decisions with a bare majority, won't impact the economy.

The Rothschild family is set to take its investment bank private as its holding company announced plans to buy out the shares it does not own. Concordia, which holds almost 40 percent of the capital of Rothschild & Co. said it was in negotiations with investors and banks to finalize...

If the deal is sealed, it would be gold sector's largest acquisition.

The high occupancy was achieved despite a 16 per cent increase in room supply in 2022 compared to 2019.

Kabul, Afghanistan-- Qatar has renewed its pledge to Afghanistan to help the war-ravaged country in fields of education, development, politics, and economy.This was reiterated in a meeting between the visiting Special Envoy of the Minister of Foreign Affairs for Counterterrorism and Mediation in Conflict Resolution Dr. Mutlaq bin Majed Al...

The latest data from the United Nations World Tourism Organisation (UNWTO) shows that global tourist travel in 2022 was 37 percent lower than 2019.

The two biggest economies of the region are leaving no stone unturned to hire the most talented professionals in order to run the ever-expanding companies.

DUBAI, UAE - Dubai Customs and Dubai Chambers discussed supporting  businesses and the private sector and enhance the emirate’s competitiveness following Dubai's strategic plans and vision.These were the highlights of the meeting between Ahmed Mahboob Musabih, Director-General of Dubai Customs, CEO of Ports, Customs and Free Zone Corporation and Mohammad...

SHARJAH, UAE - Sharjah Economic Development Department (SEDD) received a delegation from Matajer - one of the most important commercial shopping groups affiliated with Sharjah Holding Company - established under a partnership between Majid Al Futtaim Properties and Sharjah Asset Management.This comes within SEDD’s interest to strengthen partnerships with leading...

Doha, Qatar-- Qatar has received more than 614,000 visitors during the month of December 2022, a monthly increase of 3.7 percent as against November 2022.The highest number of visitors were from the Gulf Cooperation Council at 40 percent. As for visitors by type of port, the visitors via air make...

Abu Nawas grew up spending much of his time watching football matches, analysing the teams and playing football video games.

Amman, Jordan--Jordanians are increasingly adopting electric cars in a push towards abandoning the fuel-guzzling cars that have become so hard to run in the face of high fuel prices.Speaking at a workshop on the future of eco-friendly vehicles in Jordan, Khalaf Humeisat, Chairman of the Board of Directors of the...