The deal is expected to boost capital markets in the region.

Urging China to share information that might pinpoint how the pandemic started, the WHO has said that it was hoping that Covid-19 would no longer be a public health emergency in 2023. The WHO said the virus was here to stay and would have to be managed like other respiratory...

Dubai, UAE--The Dubai International Financial Centre (DIFC) Court has launched a new set of industry-first specialised rules for its recently formed Digital Economy Court (DEC) Division.A leading international judicial expertise Justice Michael Black of England & Wales has been recruited to oversee and operate the new court’s cutting-edge digital infrastructure...

Casablanca, Morocco--They may have fallen just short of reaching the World Cup final, but Moroccans on Wednesday hailed their team's historic run as it ended with a 2-0 defeat to reigning champions France."They played a great game but luck wasn't on our side," said supporter Oussama Abdouh in Casablanca."Still, we stood...

Ifo's positive outlook came a day after a closely watched survey showed German investor confidence rising again in December.

Gas prices are high, albeit lower than during the middle of the year, spurring worries that European homes and businesses could face blackouts or unpayable bills, if not this winter then next.

The data was published on the eve of an interest rate decision from the Bank of England, which is widely expected to deliver the ninth hike in a row as policymakers try to tackle rampant prices. It also comes as strikes spread across the economy, with workers protesting over salaries...

The consumer price index, a key gauge of inflation, logged its smallest annual increase in nearly a year, fueling optimism that the Fed could soon moderate its efforts. Households have been squeezed by red-hot prices, with conditions worsened by surging food and energy costs after Russia's invasion of Ukraine, and...

Abu Dhabi, UAE--The UAE Jiu-Jitsu Federation and China’s Generations Fund have signed an agreement to promote the culture of Jiu-Jitsu in China.The agreement allows both parties to utilize Jiu-Jitsu in accelerating sporting cooperation between the UAE and China.The importance of the agreement stems from the fact that it follows the...

IMF chief Kristalina Georgieva has regretted the shortage of funds needed to help low-income countries tackle the impacts of climate change. Although IMF has secured $40 billion worth of commitments, its chief still feels that the amount is "nothing in comparison with the needs."

Amman, Jordan-- Jordan's inflation shot up 4.22%, reaching to 106.68 points during the period from January to the end of November 2022, compared to 102.36 points during for the same period in 2021.The Department of Statistics stated today in its monthly report that some of the most prominent commodity groups...

Doha, Qatar - Qatar posted a budget surplus of QR 30 billion ($8 billion) for the third quarter of 2022, the Finance Ministry announced Tuesday.In its briefing on the budget, the Ministry said that the total revenues for this quarter amounted to QR 81.8 billion ($22 billion), of which QR...

Saudi Arabia's GDP witnesses 9.3 percent increase in the third quarter of this year as the rally in oil prices has fuelled economic growth across the Gulf region.

Sudan signed an initial US$6 billion deal led by United Arab Emirates' AD Ports Group and Invictus Investment to build a vast new Red Sea port and economic zone. "The massive project will give a strong boost to the national economy and will bring countless benefits for the country," said...

The bank's Fitch A ratings bonds were listed on Nasdaq Dubai.

ABU DHABI, UAE - Members of the Consultative Council of UAE's Financial Restructuring Committee (FRC) has met with experts from the World Bank Group (WBG).The meeting was held virtually and sought to discuss the latest updates on amendments to the bankruptcy law, which is being implemented as a joint project...

ASWAN, EGYPT - The governments of the UAE and Egypt inaugurated the Egypt Services Center in the Aswan Governorate, which is the first of its kind in Egypt. The inauguration is part of the strategic partnership between the two countries in government modernization. The Emirati delegation which attended the inauguration...

Beijing, China—China has filed a dispute with the World Trade Organization over US restrictions on chip exports, Beijing's commerce ministry said in a statement late Monday, accusing Washington of threatening global supply chains. The United States in October announced new export controls aimed at restricting China's ability to buy and manufacture...

While the crypto ecosystem still reels from the collapse of FTX, and investor apprehension about the future of the digital asset, Dubai's regulatory mechanism to oversee cryptocurrency entices big players to the city.

Amman, Jordan— Jordan and Saudi Arabia held discussions on enhancing bilateral cooperation in various fields and boosting strategic ties between the two countries. The ministerial meetings were held as part of Prime Minister Bisher Khasawneh's working visit with a ministerial delegation, where he will meet with Saudi senior officials. Also...

The MoU will enable SMEs access to financing options.

The US biopharma firm will pay US$28 billion for the deal.

ABU DHABI, UAE - The General Pension and Social Security Authority (GPSSA) said that the registration of insured individuals in the private sector with the authority is the first step towards receiving benefits as part of GPSSA’s social insurance system. This is in addition to benefits provided by the NAFIS...

Gross domestic product fell 0.6 percent in September after businesses closed for the royal funeral, and Britain's economy shrank by 0.2 percent in the third quarter, according to the Office for National Statistics (ONS).

As part of its monetary policy tightening, the ECB will on Thursday outline the next steps in its efforts to slim down the bank's massive balance sheet. It has already made changes to the terms of an ultra-cheap bank loan scheme, aimed at keeping credit flowing during the pandemic, in...

Dubai, UAE— Dubai Customs and a delegation from South Korea have discussed ways to further develop mutual trade cooperation. Dubai Customs also shared their experience in developing smart customs services and digital systems with the delegation. The meeting, held at Dubai Customs headquarters, shed light on virtual reality programmes that...

Responding to a story published on one of the satellite channels, the bank explained the amount of the total loans in the bank is inaccurate.

More than two years after it was launched, China will retire "Communications Itinerary Card", which tracks people who have been to a high-risk area based on their phone signal. The step is seen as a milestone in the country's rapid turn away from its zero-tolerance coronavirus strategy.

The company announced the completion of production of the Tinrhert gas field at the end of November 2022.

The $1.5bn deal will herald a new energy transition phase.

Riyadh, Saudi Arabia—Saudi Arabia has signed a memorandum of understanding (MoU) with Kuwait on Sunday to develop Al-Durra gas field shared between the two countries. President and CEO of Saudi Arabian Oil Company Eng. Ali Bin Saleh Al Ajmi signed the MoU for the Saudi side, while CEO Kuwait Gulf...

The sector witnessed the manufacturing of 1,210,331 cars in the period.

“It is critical that as we scale up the use of Nature-based Solutions (NbS) we make sure we do not also scale up decent work deficits, such as the informal work, low-pay and low productivity conditions that many workers in NbS currently face,” said Vic van Vuuren, Director, ILO Enterprises...

Riyadh, Saudi Arabia---Saudi Arabia’s real gross domestic product grew by 8.8 percent in the third quarter of 2022 compared to the same period last year, driven by an increase in oil activities, according to a report released by the kingdom's General Authority for Statistics (GASTAT). GASTAT noted that the real...

Russia has assembled a "shadow fleet" of more than 100 vessels seeking to circumnavigate the Western sanctions regime. These ships are reportedly using non-Western insurers and selling oil at higher prices to countries that have not subscribed to the new sanctions.

But the half-point jump analysts expect to see in the Fed's benchmark lending rate will still be a steep rise, as it struggles to cool demand in the United States to bring consumer costs down. Households in the world's biggest economy have been contending with red-hot prices.

A month after Chinese leader Xi Jinping and US President Joe Biden agreed to repair frayed relations, the US is sending its first high-level delegation to China, consisting of Assistant Secretary of State Daniel Kritenbrink and National Security Council Senior Director for China and Taiwan Laura Rosenberger.

After a decade of dynamic growth during the 2010s, Africa's second most populous country has suffered multiple shocks, including the Covid-19 pandemic, a record drought, a two-year war in its northernmost region of Tigray and the global impact of the invasion of Ukraine.

Dubai, UAE— The United Arab Emirates has been ranked as the country with the world's most powerful travel document. That is according to the latest publication of the Passport Index, a global ranking by Montreal-based citizenship financial advisory firm Arton Capital. The UAE has beaten the likes of Germany, Sweden,...

Doha, Qatar— Qatar has witnessed a 34 percent decline in building permits to 645 during the month of November, as against 972 permits issued in October this year. According to the monthly statistics issued by the Planning and Statistics Authority on Saturday, the decrease was noted in the all of...

The apex bank "will continue to take all measures to ensure the maintenance of the integrity of the financial system and ensure the compatibility of all financial transactions in the UAE to the requirements guaranteed by the system of registered hawala brokers,” he adds.

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received 29 expressions of interest (EOIs) to implement the first phase of its 120 Million Gallons Per Day (MIGD) Hassyan Sea Water Reverse Osmosis Plant (SWRO) Project using the Independent Water Producer (IWP) model. This is the first project implemented...

ASHGABAT, TURKMENISTAN - Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber has left the UAE on a working visit to Turkmenistan. Dr. Al Jaber headed a delegation comprising Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE); Mohamed Saif Al Suwaidi, Director-General of...

Geneva, Switzerland— Washington condemned the World Trade Organization's verdict Friday on the punitive US tariffs imposed on national security grounds on steel imports from China and other countries. Former US president Donald Trump's administration introduced the tariffs on steel and aluminium imports from China, Norway, Switzerland and Turkey and his successor,...

Washington, US— The US has commended the decision to hold next year’s 28th UN climate change conference in the UAE. Special Presidential Envoy for Climate John Kerry said that fossil fuel economies should be encouraged to lead the transition to clean energy. “It’s very exciting that the UAE, an OPEC...

A noted Lebanese actor Stephanie Saliba was briefly detained by authorities in Lebanon in connection with a money laundering case. The actor was questioned as a witness in a corruption probe involving the country's central bank governor. She had failed to appear for previous summons in the case.

China has established comprehensive strategic partnership relations with 12 Arab countries separately, says Xi Jinping during Arab-China Summit in Riyadh.

AQABA, JORDAN - The southern city of Aqaba is welcoming an increasing number of local visitors and foreign tourists of various nationalities, especially from Europe, in the winter tourist season. The movement of cruise ships to the ports of Aqaba and flights to King Hussein International Airport is also witnessing...

GENEVA, SWITZERLAND - The International Finance Corporation (IFC) and UNHCR, the UN Refugee Agency, Friday announced a joint initiative to create inclusive economic opportunities that will benefit refugees and their host communities. The initiative aims to mobilize private sector projects over the next five years to demonstrate the viability of...

Global stocks rose on China's slowing inflation and economic reopening, alongside hopes of less aggressive interest rate hikes next week. Sentiment brightened on China's decision to shift away from its nearly three-year zero-Covid strategy of lockdowns and mass testing that slammed the economy. After protests across the country, leaders have...