ABU DHABI, UAE  - UAE's Ministry of Finance (MoF) has launched a Corporate Tax Public Awareness Program following the issuance of the Federal Decree-Law on Taxation of Corporations and Businesses.The launch of the program was announced during a media briefing held Thursday by the ministry to raise public awareness of...

MONTREAL, CANADA -  UAE Minister of Climate Change and the Environment  Mariam bint Mohammed Almheiri participated in the High-Level Segment (HLS), the second part of the 15th UN Biodiversity Conference (COP15), that took place in Montreal, Canada.The HLS, which took place from December 15-17, 2022, aimed to enable participating ministers...

DUBAI, UAE -   MD & CEO of Dubai Electricity and Water Authority (DEWA)    Saeed Mohammed Al Tayer has launched the construction work for the Hatta Sustainable Waterfalls project.The  US$12 million (AED 46 million) project was recently awarded to DEWA and is part of the company's social and investment responsibility to...

With dust settling after the Bank of Japan's surprise shift from ultra-loose monetary policy, investors embarked on a mini Santa rally ahead of the Christmas break, while the yen stabilised following its biggest jump in 24 years.

Mumbai, India - India's central bank governor warned Wednesday that cryptocurrency markets risked causing the next global financial crisis, saying the recent collapse of FTX was proof of the sector's "inherent risks".The comments close out a challenging year for India's millions of crypto owners, who are already reeling from a global...

Rabat, Morocco - UAE and Morocco discussed ways of boosting their cooperation and investment opportunities in industry, economy, investments, culture, and tourism. The discussion occurred between Sultan Ahmed Al Jaber, UAE's Minister of Industry and Advanced Technology and Aziz Akhannouch, Prime Minister of Morocco, in Morocco.The visit is a step...

Rabat, Morocco--Morocco is hoping its unprecedented World Cup exploits can help it win friends and influence people, especially among an Arab public opposed to its 2020 rapprochement with Israel.Support for the Atlas Lions surged as they battled their way to the semi-final of the football World Cup in Qatar -- the...

Iraq has been caught for years in a delicate balancing act between its two main allies, the United States and Iran, and Baghdad only recently arrived at a fragile compromise government after a year of political stalemate. The conference was a test for Iraq's new Prime Minister Mohammed Shia al-Sudani,...

Algeria "doesn't support the idea of limiting prices", Energy Minister Mohamed Arkab said, speaking a day after EU energy ministers agreed a temporary ceiling to mitigate a severe energy crunch following Russia's invasion of Ukraine. "Energy markets must stay free so upstream" investments can continue, he told a press conference,...

Businesses in the region are working closely with their governments to get cloud security solutions implemented to reduce the success rates of phishing attempts.

WASHINGTON, UNITED STATES - The United States plans a meeting early in 2023 between Israel and Arab nations that recognize it as it pushes the incoming right-wing government of Benjamin Netanyahu to show restraint, a US official said Tuesday.Netanyahu is set to take office with the most right-wing government in Israel's...

Doha, Qatar – Qatar’s Industrial Production Index (IPI) rose by 2.5 percent in October 2022, compared to the corresponding month in 2021, reaching 99 points, a 3.3 percent decline compared to September 2022.The index, issued by the Planning and Statistics Authority on Tuesday, showed a decrease in the mining sector...

DUBAI, UAE  - Nearly 2,000 global business executives and investors attended the World Corporate Summit in Dubai to share in the vision of improving the world through business.Held in Dubai from November 21 till December 15 2022 at the Palace Downtown Hotel, this summit which was supported by Dubai’s Department...

WASHINGTON, UNITED STATES - US lawmakers early Tuesday released the text of a US$1.7 trillion funding bill which Congress hopes to pass within days to avert a government shutdown.The bill includes $858 billion in defense funding and will also provide $44.9 billion in emergency assistance for Ukraine.It also includes $772.5 billion...

SWEIMEH, JORDAN - Iran's Foreign Minister Hossein Amir-Abdollahian met Tuesday with EU foreign policy chief Josep Borrell on the sidelines of a summit in Jordan, an Iranian diplomatic source said.The meeting, which was confirmed by Iran's official news agency IRNA, comes at a time when negotiations in Vienna aimed at reviving...

The 15 new projects approved reflect the OPEC Fund’s launch of a US$1 billion Food Security Action Plan and the adoption of its first dedicated Climate Action Plan earlier this year.

Dubai, UAE--The Ministry of Human Resources and Emiratisation (MoHRE) has held a meeting with a number of recruitment agencies in the UAE to discuss the latest developments and ways to benefit from the Nafis platform, helping companies with 50 employees or more achieve the Emiratisation targets of 2% for skilled...

In a statement, the World Bank slashed its forecast to 2.7 percent from 4.3 percent predicted in June. It also revised its forecast for next year from 8.1 percent down to 4.3 percent.

The announcement on December 5 that the bookshop will close at the end of this month prompted an avalanche of messages. UK-based Algerian journalist and academic Ouissal Harize wrote on Twitter: "You will definitely be missed. Thank you for giving us a home away from home." The editor-in-chief of Esquire...

As the Gulf nations look to deepen economic partnership with China, the US, the region's dominant security force, watches with concern the GCC tilt toward its rival.

The agreements included the establishment of the Saudi-Azerbaijan Joint Business Council.

In Afghanistan, hundreds of earthquake-resilient concrete homes, many built by local laborers with the support of the United Nations refugee agency, have now been handed over to survivors who were until now living in makeshift tent cities.

In its Q3 review, the apex bank attributed the upward review to the robust performance of some non-oil sectors, including tourism, hospitality, real estate and manufacturing.

Dubai real estate market recorded 476 sales transactions worth AED1.17 billion, in addition to 92 mortgage deals of AED181.95 million.

The region was ranked the riskiest by the Global Risk Report Quarterly Update. But the GCC region stood out, offering some of the best supporting environments for investors.

SINGAPORE -   The UAE has participated in the 17th Asia Pacific Regional Meeting of the International Labor Organization (ILO) in Singapore.More than 500 representatives of governments, labor organizations and companies from 33 of the 48-member countries of the Asia Pacific Group of ILO took part in the meeting.The meeting discussed...

Dubai, UAE--The European Investment Bank has granted Tunisia a 216 million ($229 million) loan to support its food security and power infrastructure.The Tunisian government signed an agreement with the bank, under which 150 million euros will be granted to support its food security. Under another agreement, signed with the Tunisian...

Cairo, Egypt--The IMF's new $3 billion financial support package for Egypt aims to reduce government debt to less than 80 percent of the gross domestic product in the medium term, according to a cabinet report released on Saturday. The IMF did not require the Egyptian government to cut spending on subsidies,...

Dubai, UAE--A UAE delegation led by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade is on a visit to Scotland to discuss renewable energy projects and other potential areas of cooperation, such as science.The delegation included Rashid Abdul Karim Al Balooshi, Under-Secretary of Abu Dhabi Department...

Khan’s Umrah, participation in the Red Sea Film Festival, which followed the filming of Dunki in the futuristic city of NEOM, has been a shining advertisement for Indian film industry.

Paying tribute to the finalists and fans in a Twitter statement after the match, Qatar's ruler said that the Gulf state had delivered on its vow to hold an 'exceptional' World Cup. The small gas-rich country spent more than $200 billion on stadiums and new infrastructure.

MONTREAL, CANADA - A UN nature deal proposed Sunday calls to protect at least 30 percent of the planet by 2030 and asks rich countries to stump up $20 billion in yearly aid for developing nations to save their ecosystems.China, chairing the COP15 biodiversity summit in Montreal, presented a long-awaited compromise...

DUBAI, UAE -  Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 73rd meeting held virtually.Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy also participated.The meeting was attended by Secretary-General of the Dubai Supreme Council of Energy Ahmed...

The vision is based on four pillars that cover all sectors including the society, economy, diplomacy and ecosystem, the government says.

DUBAI, UAE -  The Rental Disputes Center (RDC), the judicial arm of Dubai Land Department (DLD), was launched to achieve social and economic stability for those involved in the real estate rental sector and other relevant fields. This helped in establishing a specialized judicial system as per a streamlined mechanism.Judge...

Germany plans to open four more government-funded LNG terminals over the next few months as well as a private terminal in the port of Lubmin.

ABU DHABI, UAE  - UAE Ministry of Climate Change and Environment (MOCCAE) launched the roadmap for the National Carbon Sequestration Project, which aims to plant 100 million mangroves in the country by 2030.  This is as part of its efforts to implement the UAE's strategic initiative to achieve Net Zero...

BENGALURU, INDIA - The UAE participated in the first Framework Working Group (FWG) meeting within the G20 Finance Track, which was held on December 16-17 2022.Held for the first time under India’s G20 presidency in Bengaluru, the meeting sought to discuss the work plan for FWG in 2023, which is...

AMMAN, JORDAN - Jordan has arrested dozens of people accused of involvement in protests against rising fuel prices in which a senior police officer was gunned down, the country's security agency said Saturday.Colonel Abdul Razzaq Dalabeh, the deputy police chief of Maan province, died of a gunshot to the head in...

Amman, Jordan--Jordan’s judiciary on Thursday sentenced two men to long prison terms for attempting to smuggle nearly two million captagon pills into the country from Syria, a judicial source told AFP.The state security court handed a 20-year prison term and a fine of 20,000 Jordanian dinars ($28,000) to one of...

Iraq is currently supplying Jordan with 10,000 barrels of oil per day (bpd).

Washington, United States--The Executive Board of the International Monetary Fund on Friday approved a $3 billion loan to Egypt, with an immediate disbursement of $347 million, the IMF said in a statement.Egypt will benefit from the loan over 46 months under the Extended Fund Facility. The agreement is for 2,350.17 million SDRs,...

After a healthy rally in recent weeks fuelled by signs that price rises were slowing, the US Federal Reserve, European Central Bank and Bank of England this week crushed any Christmas spirit by hiking borrowing costs again by sizeable amounts and warning of more pain.

Dubai’s hotel inventory in October 2022 comprised 144,737 rooms at 790 hotel establishments compared with 122,185 rooms available at the end of October 2019.

The surplus is mainly due to control over expenditures and the rise in revenues with the recovery in oil prices.

Emmanuel Macron said France had been pushing the idea for more than four years. The global minimum tax is only one part, known as Pillar Two, of the OECD agreement. The first pillar, which provides for the taxation of companies where they make their profits to limit tax evasion, primarily...

“The UAE is Germany's most important trading partner in the region, with German exports to the UAE totalling US$8.4 billion in 2021. And for the year 2022 [first 9 months], Germany's imports from the UAE increased 67 percent year-on-year, already reaching US$1.3 billion,” adds Alexander Schönfelder.

Industrial production in the US slumped in November with "broad based" decreases, the Federal Reserve said, as output for bigger-ticket consumer products and manufacturing fell. While tangled supply chains and surging costs which weighed on businesses are easing, in a boost to production, firms are now contending with weakening demand...

         DUBAI, UAE -  Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed an MoU with Ras Al Khaimah Economic Zone (RAKEZ) to support the emirate’s path towards economic diversification by stimulating its non-oil foreign trade. The Memorandum of Understanding came as part of ECI’s effort to support Ras Al...

Dubai, UAE--– The central banks of Saudi Arabia, Bahrain, and Qatar increased their interest rates following the US Federal Reserve Board’s announcement today to raise the Interest on Reserve Balances (IORB) by 50 basis points.The Saudi Central Bank, known as Sama, the Central Bank of Bahrain and Qatar Central Bank...