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...

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...

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...

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...

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...

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...

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....

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...

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...

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...

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...

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...

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...

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...

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,...

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...

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...

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...

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...

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).