It retained lead over the rival Volkswagen for the third year.

Most analysts expect a 50-basis point hike in March but, with inflation starting to ease, there are already signs of a debate among policymakers about when to slow the pace. ECB board member Fabio Panetta, known for his dovish stance, said the bank should not commit to any particular hike...

Amman, Jordan-- The European Union (EU) has signed two agreements with Jordan to provide it with a $70 million in financing.The first agreement will finance a $43 million program: "EU support to the Rule of Law in Jordan", in support of the Ministry of Justice, Judicial Council, Judicial Institute, and...

Dubai, UAE--The UAE has launched several innovative health projects in the 48th edition of Arab Health 2023, which began today at the Dubai World Trade Centre and will conclude on 2nd February, 2023.The Ministry of Health and Prevention (MoHAP), the Department of Health—Abu Dhabi (DoH), and the Dubai Health Authority...

"This very important commitment gives us the opportunity to support Lebanon’s economic development, at this critical juncture. And I want to assure our brothers in Lebanon that Qatar will always be there in support of a better future for Lebanon and its people," he adds.

DUBAI, UAE - The Emirates Health Services (EHS) will showcase its 19 innovative healthcare projects during Arab Health Exhibition 2023, which will be held from January 30 to February 2 at the Dubai World Trade Center.Dr. Youssef Mohamed Al Serkal, Director General of the Emirates Health Services, said that the...

Dubai, UAE - UAE's Federal Tax Authority (FTA) started the ‘Tax Support’ initiative to raise tax awareness among UAE’s business sectors through direct and sustained contact.The step is likely to help the businesses in enhancing compliance with tax laws and regulations, WAM reported.As a result, the first workshop for 2023...

The agreement was signed in the presence of Meloni and her host Abdulhamid Dbeibah, who heads the UN-brokered Government of National Unity which is contested by a rival administration in the east.

Amman, Jordan-- Jordan and the Arab League have discussed ways to deepen coordination on communications. Minister of Government Communication Faisal Shboul and Head of the Media and the Communication Sector of the Arab League, Ahmed Khattabi, Saturday held talks in Amman on enhancing coordination on communications.During the meeting, Shboul noted...

Hunger rates in Syria have escalated to record highs after more than ten years of brutal conflict, according to the World Food Program. The UN agency believes that years of economic crisis and damage to vital infrastructure from war have put some 2.9 million at risk of sliding into hunger.

Abu Dhabi, UAE-- The Chairman of the Abu Dhabi Securities Exchange Hisham Khalid Malak expects an increase in listings on the stock exchange in 2023."We have a healthy pipeline of IPOs and listings with aspirations to surpass 2022. There will always be challenges, but also opportunities," he told media.He affirmed...

BAGHDAD, IRAQ -  First Deputy Speaker of Parliament Mohsen Al-Mandalawi said that the tourism sector in Iraq has all the ingredients for success.Al-Mandalawi made the statement while meeting with the Association of Travel and Tourism Companies in Iraq, a statement issues by the  media office of the First Deputy Speaker...

DUBAI, UAE - Dubai Electricity and Water Authority’s ( ) virtual employee ‘Rammas’, which uses Artificial Intelligence (AI), answered over 6.8 million enquiries since its launch in the first quarter of 2017 until the end of December 2022.Saeed Mohammed Al Tayer, MD and CEO of DEWA, said that DEWA launched...

Riyadh, Saudi Arabia--The Saudi Ministry of Investment has signed two memorandums of understanding with Boehringer Ingelheim Company and Saudi Novo Nordisk Trading Company and King Abdullah University of Science and Technology at Riyadh Global Medical Biotechnology Summit 2023, the Saudi Press Agency reported Friday.The MoUs were signed in the presence...

On a monthly basis, the deposits grew by 0.06 percent.

Shored up by healthcare, financial services, banking sector, and raw material companies, the Saudi equities posted gains throughout the weeks.

The tightening measures are showing effect, with the Fed's preferred inflation gauge, the personal consumption expenditures (PCE) price index rising 5.0 percent last month from a year ago, down from 5.5 percent in November, Commerce Department data showed on Friday. This extends a downward trend since mid-2022, when American households...

Continuing with this week's losses to $45 billion after a US investment firm claimed it had committed "brazen" corporate fraud, shares in the business empire of Asia's richest man Gautam Adani fell down on Friday. He began the week as the world's third-richest man but now has dropped down the...

Abu Dhabi, UAE - As part of the pan-Arab efforts to implement the joint Arab digital economy vision, launched by UAE President Mohamed bin Zayed Al Nahyan, an MoU was signed to establish an Arab Digital Foodstuff Market.Ahmed Abu Al Gheit, Secretary General of the League of Arab States and...

The mission has been launched during what Armenia describes as a "humanitarian crisis" ravaging the breakaway region of Nagorno-Karabakh. Since mid-December, a group of Azerbaijanis have been blocking the only road into Karabakh from Armenia to protest what they claim is illegal mining causing environmental damage, leading the mountainous region...

The two leaders agreed to increase Indian investments in Egypt, which currently stand at "over $3.15 billion" according to their statement, including through a potential "dedicated land area for Indian industries in the Suez Canal Economic Zone". The economic crisis in Egypt, triggered by Russia's invasion of Ukraine last year,...

The rise was driven by strong regional economic growth.

Stock markets rose as US data showed the country grew at a slower pace in 2022 but finished the year on a stronger note. Shares in Paris, Frankfurt and London were higher in mid-afternoon trading. US gross domestic product rose at an annual rate of 2.9 percent in the fourth...

Household spending and business investment remained positive in the final quarter last year though they slowed, while inventories and net exports helped growth, said Rubeela Farooqi of High Frequency Economics.

DUBAI, UAE - Dubai Gold and Commodities Exchange (DGCX) Thursday announced its full-year market statistics for 2022, reporting 8.239 million contracts with a  value of US$162.01 billion during the year, representing growth of 16 percent and 8.24 percent from 2021, respectively.The DGCX is the largest and most diversified derivatives exchange...

The company's Q4 net profit surged to US$3.4 billion.

ABU DHABI, UAE - The UAE is determined to foster the attractiveness and competitiveness of the business environment in order to keep pace with future economic trends, a senior official said.The UAE further aims to offer a legislative framework that will enable companies to promote the new economic model, particularly...

The boost is seen as key for its long-term growth plans.

The area of land used for opium poppy cultivation expanded by a third to just over 40,000 hectares in 2021-22 -- the first full growing season since the coup -- according to a United Nations Office on Drugs and Crime (UNODC) report released Thursday.

Vienna, Austria--The OPEC Fund for International Development (the OPEC Fund) has lent Panama a US$120 million in loan to support the country’s climate action, adaptation, resilience and mitigation policies.The “Panama Support Program for the National Climate Change Policy” aims to mitigate, contain and reverse the effects of climate change, helping...

The bank's net profit rose to $93 million in 2022.

"We are all KAN," read placards at the demonstration, referring to the Israeli Public Broadcasting Corporation (KAN), as employees were joined at a Tel Aviv theatre by Lior Raz, star of the hit Israeli Netflix series "Fauda". The proposed cuts would lead to KAN's closure "at a time when it...

Looking to develop offshore hydrocarbon sites, Libya's National Oil Corporation has signed an $8-billion deal with Italian energy company ENI. The deal is expected to be inked on Saturday at an official ceremony. The development of the offshore sites is hoped to produce 850 million cubic feet of gas per...

Firm confirmed its 2023 outlook amid strong aviation demand.

BAGHDAD, IRAQ -  Iraqi Prime Minister Mohammed Shia al-Sudani will travel to France on Thursday for energy and security talks with President Emmanuel Macron, he told AFP.Sudani, in written answers to AFP, said he wants to "activate the agreements" between oil-rich Iraq and France "particularly in the transport, energy and investment sectors".French...

Lebanese protesters blocked roads and burnt tires near the central bank in Beirut as the local currency plummeted to a new low against the dollar. Since 2019, Lebanon has been in an economic crisis dubbed by the World Bank as one of the worst in recent global history, pushing much...

DUBAI, UAE - Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), received Christian Klein, CEO and member of the Executive Board of SAP SE.The meeting was attended by Marwan bin Haidar, Executive Vice President of Innovation and The Future at DEWA, and Mohammad bin...

The profit in year 2022 is 4.4 percent lower than in 2021.

Dubai, UAE-- On the second day of the MENA IPO Summit Dubai 2023, many experts called for the creation of a a dynamic and advanced regulatory structure for capital markets and educating market participants on the best practices.During the summit’s workshops and discussions, securities companies and experts talked about ways...

Non-Gulf countries' contributions to the digital economy in the region will increase to more than 35 percent during this time, says a latest report.

Abu Dhabi, UAE-- Hotels across Abu Dhabi have posted a 24 percent growth in occupancy to 4.1 million visitors during 2022, according to data shared by the Department of Culture and Tourism.Hotel revenues climbed by 23% from the previous year to $1.47 billion in 2022.The statistics showed that Abu Dhabi...

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that it is participating in the 8th Dubai International Project Management Forum (DIPMF) as the organizing partner.DIPMF is being organized by the Roads and Transport Authority in Dubai (RTA) in cooperation with the Project Management Institute (PMI), DP World, and...

Twitter's British landlord said it is taking the social media to court for not paying rent on its London offices. The Crown Estate, a firm that manages land and property belonging to the British monarchy, said it has launched legal action at the High Court for rental arrears on an...

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) launched the 'OWNEK' awareness initiative to help its accredited contractors and consultants receive approval on the first instance when requesting electricity connections.This initiative will save the contractors and consultants time and effort and speed up the workflow.The initiative includes a series...

ABU DHABI, UAE - Abu Dhabi Agriculture & Food Safety Authority (ADAFSA) has just been announced as the winner of the Outstanding Community Initiative category at the 2022 Global Business Excellence Awards, thanks to its 'Auwn Community Program'.The program assisted in accomplishing ADAFSA's Corporate Social Responsibility (CSR) goals by implementing...

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) announced that gross banks’ assets, including bankers’ acceptances, increased by 0.7 percent, rising from $983 billion at the end of October 2022 to $988 billion at the end of November 2022.According to figures published in CBUAE's November summary report...

Fitch and Capital Intelligence agencies also continued to rate Qatar's sovereign rating at the level of AA with a stable outlook, which reflects Qatar's strong creditworthiness.

The two ministers to explore cooperation in the fields of science and technology, agriculture, and education.

Algiers, Algeria--Italian Prime Minister Giorgia Meloni agreed Monday to strengthen energy cooperation with Africa's top gas exporter Algeria, the latest European country seeking supply deals to help reduce reliance on Russia."Facing the great energy crisis that Europe in particular is experiencing, Algeria could become a leader in production, certainly African but...

Morocco's Parliament "decided to reconsider its relations with the European Parliament and submit them for an overall evaluation," said Rachid Talbi Alami, speaker of the House of Representatives. He gave no further details. Under a 1996 agreement, Morocco and the European Union have been linked in tight economic and commercial...