Egypt has detained three people for attempting to steal a millennia-old statue with a crane in the ancient southern city of Aswan, some 675 kilometers south of Cairo on the Nile. In a statement the public prosecutor's office said that it had ordered three defendants to be held in custody...

ABU DHABI, UAE - Masdar has announced the signing of an agreement with the Ministry of Energy of Kyrgyz Republic to develop a pipeline of renewable projects in the country.The projects, with a total capacity of up to 1 gigawatt (GW), start with a 200-megawatt (MW) solar photovoltaic (PV) plant.The...

Major stock markets mostly dropped as warnings that US interest rates would continue to rise and remain elevated offset growing optimism over China's economic reopening after Covid lockdowns. Equities enjoyed a strong start to the new year thanks largely to Beijing's decision to throw off the shackles of its strict...

ABU DHABI, UAE - Abu Dhabi Chamber of Commerce and Industry (ADCCI) has launched the updated version of its Effortless Certificate of Origin service, which aims to enhance customers’ experience and reduces the time taken for acquiring the service.This comes as part of its participation in the Abu Dhabi Program...

The investment in the Dammam warehouse will bring the value of Investcorp’s global warehousing logistics investments to over $4 billion.

Cairo, UAE--Egypt's annual urban consumer inflation in December shot up to 21.3 percent from 18.7 percent in November, exceeding analyst expectations.Data from the statistics agency CAPMAS showed on Tuesday that the inflation figure was the highest since December 2017, when it hit 21.9 percent. The price rises followed a currency...

London, United Kingdom--British retailers won a boost from higher prices over the key Christmas trading period but the volume of goods sold slumped as sky-high inflation hits broader buying, data revealed Tuesday.Revenue jumped almost seven percent in December from a year earlier largely thanks to surging food prices, according to a...

Sharjah, UAE--The Sharjah Department of Public Works (SDPW) conducted a workshop on the "Sharjah Ports, Customs and Free Zones Authority Building" project and the lessons learned from the project.Ali bin Shaheen Al Suwaidi, Head of the SDPW, confirmed that the department supports carbon neutrality and zero carbon emissions in its...

Dubai, UAE-- Top industry experts will share first-hand knowledge of the IPO process and the opportunities and challenges of becoming a public company at the MENA IPO Summit, to be held in Dubai from 23 to 25th January. The event will also showcase a roadmap for startups and SMEs in...

The Global Innovation Index ranks the countries on 81 indicators across seven categories, including Business Sophistication, Infrastructure and Technology Outputs among others.

Worldwide acts of piracy fell to their lowest level last year since statistics were first established in 2008, a maritime security body said. The Maritime Information Cooperation and Awareness Center, the France-based branch of the International Maritime Bureau which is headquartered in Malaysia, said there were 300 reported acts of...

The acquisition has been finalized at $1.8billion.

The refinery production from high-octane gasoline will be a grade of 95, with a capacity ranging from 8 to 9 million litres per day.

Goldman's staff stood at 49,100 at the end of October, up nearly 30 percent from the end of 2019 after hiring campaigns and acquisitions. The planned job cuts come as Goldman Sachs and other investment banks have seen a big drop in fees tied to initial public offerings and described...

Months after the floods left most of the country devastated, Pakistan will seek billions in international support toward its recovery and to help it better resist climate change. It will co-host a conference with the UN in Geneva, urging countries, organizations and businesses to step up with financial and other...

Doha, Qatar--The Qatar Credit Bureau has disclosed that more than 33,000 credit reports were issued and more than 1,400 complaints were closed during the year 2022.Also read: Qatar’s economy remains strong despite global crisesThe center noted in a tweet about the performance of the electronic services portal during the past...

The year-end statistics for 2022 highlight a 3.2 percent surge in container volumes at 10.355 billion TEUs compared to 10.035 billion TEUs a year earlier.

Across the region, parents struggle to shield children from unsavory elements prowling the cyber world, as risks grow with the spread of the internet.

The UAE's keenness to open up to the world and work to stamp out obstacles to trade and investment flows translates into a consistent Emirati approach, as trade has always represented an integral part of the history and heritage of the country, he adds in an Op-Ed published by Emirates...

A delegation of the UAE Federal National Council's Parliamentary Division, led by Dr. Nidal Mohamed Al-Tunaiji met with Nuzhat Sadiq, Member of the Senate of Pakistan.

SHARJAH, UAE - The Sharjah Consultative Council (SCC), in its seventh session, held as part of the fourth regular session of the tenth legislative term discussed the policy of the Districts and Villages Affairs Department (DVAD).The SCC meeting, at its headquarters in Sharjah, was chaired by Ali Mehd Al Suwaidi,...

The world, according to the latest World Bank report, may be edging toward a global recession this year. Here is the GDP growth forecast for the GCC countries.

DUBAI, UAE  - DEWA has completed 76.8 percent work on the water reservoir project in Hatta. The project has a storage capacity of 30 million imperial gallons (MIG) and is being built at a cost of approximately US$23 million (AED86 million).It is expected to be completed in April 2023.This was...

Doha, Qatar--Qatar Central Bank's (QCB) international reserves and foreign currencies liquidity increased last December by 9.6 percent on an annual basis, to reach $59.31, compared to $54 billion in the same period last year. December recorded a monthly growth of 2.7 percent compared to November 2022.The figures issued by QBC...

Beijing, China--China's foreign exchange reserves rose to US$3.1277 trillion at the end of December 2022, up 0.33 percent from a month earlier, data from the State Administration of Foreign Exchange showed Saturday.The foreign exchange regulator attributed the increase in foreign exchange reserves to the combined impact of currency translation and...

Cairo, Egypt--The Engineering Export Council (EEC) of Egypt has announced that the sector’s exports increased by 10% to $3.32bn from January-November 2022, compared to $3bn in the same period in 2021.Also read: Egypt economy to grow 5.2% in 2021-22According to the EEC's monthly report, the most notable industries with export...

Reduction in hunger, provision of food security and improved nutrition, and promotion of sustainable agriculture contribute to sustainable development in the region, says an expert.

DUBAI,  UAE - A total of 2,173 real estate transactions worth over US$2.72 billion (AED 10 billion) were conducted during the week ending January 6, 2023, according to figures released by the Dubai Land Department (DLD).A total of 270 plots were sold for $612 million (AED 2.25 billion), 1,903 apartments...

The company revealed its plan to raise the Emiratisation percentage to 73 percent of the total engineering jobs by the end of 2023.

Basra, Iraq--Iraq on Friday welcomed football teams from across the region for the Gulf Cup, ending nearly three decades of repeated bans on international matches in the war-torn and corruption-plagued country.The tournament in the southern city of Basra brings together eight teams, with Friday's opening match seeing the host nation...

While a strong labor market may fuel optimism that the world's biggest economy can stave off a major downturn despite an aggressive series of interest rate hikes, it is also an area of concern for the Federal Reserve as high wages can feed into inflation. But in an encouraging sign...

Seven industries - advanced manufacturing services, retail, banking, energy, healthcare, consumer products, and automotive - are poised to be the key gainers, says a report.

AMMAN, JORDAN -  Jordan's total imports of Iraqi oil between September 2021 to December 2022 amounted to 3.65 million barrels, equivalent to 490,000 tons of crude oil."Jordan imports Iraqi crude oil according to the memorandum of understanding (MoU) for the processing of crude oil signed between the Jordanian and Iraqi...

Abu Dhabi Securities Exchange finished 2022 with a gain of almost 20 percent, making it the highest performer among GCC indices. In 2023, Saudi and UAE ended the weekly exchange down or stable.

Stock markets mostly advanced as traders awaited key US jobs data and after news of falling inflation in the eurozone. Global equities have enjoyed a largely solid start to the new year, though Wall Street slid on expectations that the Federal Reserve is in no rush to stop hiking US...

Food prices soared to a monthly record high in March after Russia invaded agricultural powerhouse Ukraine, a major supplier of wheat and cooking oil to the world. A Russian naval blockade that prevented Ukrainian grain exports was lifted following a deal in July that was brokered by Turkey and the...

Teams across Dubai’s government entities will work in close collaboration with the private sector to achieve the various targets of the agenda over the next 10 years.

Under the MoU terms, the Ministry of Economy and Planning and Clarity AI will work together to explore potential areas of cooperation, such as using big data.

Tunis, Tunisia - Dozens of Tunisian lawyers protested on Thursday against newly imposed taxes on legal services, part of a 2023 budget that seeks to boost revenues to the cash-strapped treasury.Led by Bar Association head Hatem Mziou, lawyers gathered outside the Palais de Justice in Tunis as well as other sites,...

AMMAN, JORDAN - The Jordan Chamber of Industry (JCI) organized the Jordanian-Bahraini Business Forum in Bahrain's capital, Manama, to increase the volume of trade exchange, discuss means of enhancing cooperation, and showcase investment opportunities in the two countries.JCI President Fathi Jaghbir underlined the need to set in motion a new...

The first category, which currently consists of 51 individuals, is for those who have reached the legal retirement age.

Washington, United States--Amazon announced Wednesday it will cut more than 18,000 jobs from its workforce, citing "the uncertain economy" and the fact that the online retail giant had "hired rapidly" during the pandemic."Between the reductions we made in November and the ones we're sharing today, we plan to eliminate just over...

Michelin-starred sushi restaurant Onodera Group and Japanese wholesaler Yamayuki forked out 36.04 million yen ($273,000) for the 212-kilo bluefin tuna in the auction at Tokyo's Toyosu fish market. The figure was still only a fraction of the 2019 record price but marks a recovery for the symbolic auction after three...

Doha, Qatar-- Business activity in Qatar has accelerated in December as the FIFA World Cup went on through the month.The latest Purchasing Managers' Index (PMI) survey data from Qatar Financial Centre (QFC) indicated further rapid growth of business activity in December.As was the case in November, wholesale, retail, and service...

The Saudi Notarization Law has transferred a number of such jurisdictions from courts to the notarial e-system.

The setback comes despite a record 4.7 percent drop in energy consumption last year, partly in response to soaring fuel prices because of the war in Ukraine. But the energy saving gains were wiped out by the government's decision to burn more coal and oil to make up for the...

The UAE Government will invest AED600 billion ($163.36bn) in renewable energy by 2050 to meet the country's growing energy demand from clean and sustainable resources.

The Gulf emirate's ruler, Sheikh Mohammed bin Rashid Al-Maktoum, unveiled in a series of tweets the Dubai Economic Agenda, dubbed "D33", with targets totalling 32 trillion dirhams ($8.7 trillion). The plan would "double the size of Dubai's economy in the next decade and consolidate its position among the top three...

Doha, Qatar-- Qatar ranks first among the world’s top destinations for foreign direct investment (FDI), owing to its strong economic and investment momentum into 2023, according to the newly released "FDI Standouts Watchlist 2023" by fDi Intelligence.QNA said the report analyzes the macroeconomic and foreign direct investment (FDI) trajectory of...

Baghdad, Iraq---Iraqi telecommunications worker Youssef Ahmed is married with a five-year-old son, but lives with his parents because he is unable to afford his own home amid soaring property prices."Even if your income increases, it will never be up to the exorbitant prices of houses or land", said 29-year-old Ahmed, who...