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...

Venture would start with two aircraft and expand to 15.

Firm fined due to gaps in anti-money laundering controls.

The November 1 election put former premier Netanyahu in a position to form a stable, right-wing government, ending an unprecedented period of political deadlock that forced five elections in less than four years. Netanyahu's 28-day mandate expires at midnight (2200 GMT) Sunday, but late Thursday he asked Herzog for more...

The loan is part of Japanese government's pledges to the Jordanian government at the 2019 London Conference.

Beijing is ready to expand its crude oil trade with Riyadh and will "list Saudi Arabia as a destination country for outbound tourism organized by Chinese citizens, says Xi Jinping.

“Sports economies involve infrastructure, new talents, air traffic, travel, and other components,” Al Marri adds, noting that there are many incentives that serve the sporting community and attract the interest of a wide range of investors. The sports sector is a key component of the new economy, he says.

ABU DHABI, UAE - As part of its participation in the first edition of the Abu Dhabi International Food Exhibition (ADIFE), the Abu Dhabi Chamber of Commerce and Industry (ADCCI) signed three Memoranda of Understanding (MoUs) with local and regional parties. The parties included the Emirates Development Bank, Abu Dhabi...

Doha, Qatar---The foreign currency reserves and liquidity of the Qatar Central Bank (QCB) increased by 6.82 percent to reach QR 223.985 billion ($61.51 billion) in November compared to QR 209.675 billion in November 2021. The figures issued by the QCB show the bank's official reserves increased by the end of...

ALMATY, KAZAKHSTAN - Kazakhstan threatened Thursday to ban global steel giant ArcelorMittal from operating in the Central Asian country after another fatal accident at a factory belonging to the Luxemburg-based company. Kazakhstan's infrastructure and industry minister Kairbek Uskenbayev said "tough decisions" were being made against the company, after a worker...

The World Health Organization called for more funds to help overcome towering challenges in the battle against malaria, which continues to kill hundreds of thousands of mainly African children each year. It warned that the world was currently "off track" to reach its goal of reducing malaria cases and deaths...

GENEVA, SWITZERLAND - Member states of the World Health Organisation (WHO) Thursday agreed to develop the first draft of a legally binding agreement designed to protect the world from future pandemics. This zero draft of the pandemic accord, rooted in the WHO Constitution, will be discussed by member states in...

Analysts note that conditions in the oil market have loosened compared with earlier in the year, adding to oversupply worries at a time when more economists are warning of recession. The pullback in oil prices also comes amid trader disappointment at a recent decision by OPEC oil exporters not to...

The Abu Dhabi Exports Office (ADEX) has signed an agreement with Togo’s Ministry of Economy and Finance to raise the production capacity of the Mohamed bin Zayed Solar Park in the country from the current 50 megawatts to 70 megawatts.

Pentagon announced Wednesday it has awarded $9 billion in cloud computing contracts to Amazon, Google, Microsoft and Oracle.

The UAEGD is a standard that provides a framework for the gold sector, in line with international best practices.

Geneva, Switzerland— The International Air Transport Association (IATA) has upgraded its outlook for the airline industry’s 2022 financial performance as the pace of recovery from the COVID-19 crisis quickens. It expects Industry losses to reduce to -$9.7 billion (improved from the October 2021 forecast for an $11.6 billion loss) for...

Subsidies on basic goods are a highly sensitive political issue in Tunisia, where a public finance crisis has caused repeated shortages of subsidised flour, sugar and other basic goods. Tunisia is in the grip of a grinding economic downturn exacerbated by inflation that hit 9.8 percent year-on-year in December, according...

Thanks to high oil prices, Saudi Arabia has recorded its first annual budget surplus in almost a decade, beating its own projections. The kingdom's finance ministry said that the surplus for 2022 touched $27 billion, representing 2.6 percent of GDP.

Abu Dhabi, UAE----UAE's non-oil foreign trade increased by 19 percent by the end of the third quarter, compared to the same period last year, to reach AED 1.637 trillion ($445 billion), said UAE's Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi, who predicted the trade to...

The financial sanction, amounting to AED1,925,000 ($524,166) followed the findings of an examination conducted by the CBUAE.

Mumbai, India—India's central bank on Wednesday raised its main interest rate for the fifth time this year, but by a smaller margin as inflation eases and other countries look to slow the pace of hikes. The move by the Reserve Bank of India (RBI) comes after US Federal Reserve chairman Jerome...

Economists expect Germany and another major eurozone economy, Italy, to fall into recession. Britain's economy is already shrinking. Rating agency S&P Global foresees stagnation for the eurozone in 2023. The coronavirus pandemic, meanwhile, remains a wildcard for the global economy.

The report highlights rising debt-related risks for all developing economies - low as well as middle-income economies.

Cairo, Egypt—Egypt’s non-oil businesses have shown a contraction in November, resulting in output falling at the sharpest rate since the early pandemic as the country continues to face inflationary pressure, according to S&P Global. As a result Egypt’s Purchasing Managers’ Index fell from 47.7 in October to 45.4 in November...

Delegates from across the world gathered for the December 7-19 meeting to try to hammer out a new deal for nature: a 10-year framework aimed at saving the planet's forests, oceans and species before it's too late.

Reiterating Dubai's resolve to work in collaboration with its global partners, Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has affirmed that the city was keen to explore new avenues in order to support global economic growth through the hosting of various exhibitions.

ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income countries.

Doha, Qatar— Thousands of Morocco fans descended on the streets of Doha to celebrate their country becoming the first Arab nation to reach the World Cup quarter-finals on Tuesday. Despite some minor trouble outside the stadium, the victory over Spain became a celebration of "Arab pride" for supporters from across...

The European Union reached an agreement to ban the import of products including coffee, cocoa and soy in cases where they are deemed to contribute to deforestation. The draft law, which aims to ensure "deforestation-free supply chains" for the 27-nation EU, was hailed by environmental groups as "groundbreaking". Illegal production...

The external debt of developing economies has more than doubled from a decade ago to US$9 trillion in 2021, the World Bank said. The pandemic has forced many countries to take on more borrowing and World Bank President David Malpass earlier warned that the world is facing a fifth wave...

TRIPOLI, LIBYA - Libya's state energy firm urged its foreign oil and gas partners to resume exploration and production Tuesday assuring them security had begun to improve dramatically after clashes earlier this year. Rival administrations in east and west have vied for power since March, in a standoff that has...

This represents Bombardier’s first full-service facility in UAE.

LONDON, UK - The UAE Ministry of Energy and Infrastructure (MOEI) and the Transport General Authority (TGA) of the Kingdom of Saudi Arabia signed a Memorandum of Understanding (MoU) for mutual recognition of maritime certificates issued in the two countries. The move is in line with their shared vision to...

Paris, France— The energy crisis is fuelling an acceleration of the rollout of renewable power, raising hopes for efforts to meet ambitious targets against global warming, the International Energy Agency said Tuesday. Total renewables capacity worldwide is set to almost double in the next five years and overtake coal as the...

The bank listed the sustainable sukuk on Nasdaq Dubai.

Various IPOs raised nearly $4.8 billion in the GCC in the first five months of 2022 alone, which was higher than in Europe.

Geneva, Switzerland— Total global air traffic has shot up 44.6 percent in October as against October 2021, according to the International Air Transport Association (IATA). Total traffic in October 2022 (measured in revenue passenger kilometers or RPKs) rose 44.6 percent compared to October 2021. Globally, traffic is now at 74.2...

The three sectors help the regional economies grow and offer better life to people, Takreem founder Ricardo Karam tells TRENDS while discussing various topics, including awards

DUBAI, UAE - The Dubai Health Authority recently won the 'Best in Future of Operations' category at the International Data Corporation's (IDC) edition of the IDC Future Enterprise Awards. DHA was recognized as an entity that has successfully rethought the ways in which its operations are managed keeping digital transformation...

World oil prices rallied after more easing of Covid containment measures in China and as a price cap on Russian crude agreed by the EU, G7 and Australia came into force. Brent North Sea crude and WTI advanced over 2.5 percent, also after OPEC and its Russia-led allies decided to...

Europe's biggest economy, with its low birth rate, is crying out for labour, and many Tunisians, exhausted by years of economic crisis, see an opportunity.

According to a respected monthly study released by independent economists from Turkey's ENAG research institute, the annual rate of consumer price increases reached 170.70 percent in November. President Recep Tayyip Erdogan at the weekend forecast that consumer prices rises would soon slow down.

Doha, Qatar— After fierce criticism of the Qatar World Cup, the head of the UN labour agency on Sunday pressed FIFA's president for a greater role scrutinizing future World Cup hosts. International Labour Organisation director general Gilbert Houngbo told AFP before meeting with Gianni Infantino that Qatar has been a victim...

Hit by the economic impact of the Covid-19 pandemic and inflation, poverty levels are back to where they were in 2014, the government's High Commission for Planning said in a recent report. Faced with the recent protests, Prime Minister Aziz Akhannouch has lately promoted expanding medical coverage, with more than...

EU chief Ursula von der Leyen said the bloc must act to address "distortions" created by Washington's $430-billion plan to spur climate-friendly technologies in the United States. The European Union must "take action to rebalance the playing field where the IRA (Inflation Reduction Act) or other measures create distortions", von...

AMMAN, JORDAN - Jordan's Minister of Investment Kholoud Saqqaf on Sunday received Indian ambassador in Amman Anwar Haleem for a discussion on ways to cement trade ties between the two countries. The minister briefed the envoy on the investment climate in the Kingdom and potential opportunities in various sectors. She...

Israeli President Isaac Herzog arrived in Bahrain, the first visit by an Israeli head of state to the small Gulf kingdom since the two countries normalized relations in 2020. Herzog, whose role is largely ceremonial, was greeted at the airport by Bahraini Foreign Minister Abdullatif al-Zayani, according to pictures posted...

Vienna, Austria— Major oil-producing countries led by Saudi Arabia and Russia look set to maintain their current output levels at a meeting Sunday, ahead of fresh sanctions against Moscow coming into force. The 13-member Organization of the Petroleum Exporting Countries (OPEC) is due to consult with 10 other oil-producing nations, including...

Morocco is set to chalk up record revenues for a second year running as farmers worldwide scramble for phosphate, made scarce by sanctions against top world producer Russia and a Chinese ban on exports.