ABU DHABI, UAE - Insurance shares distributed among beneficiaries is one of the most essential privileges in the Federal Law No. 7 of 1999 for pension and social security, said the General Pension and Social Security Authority (GPSSA) on Thursday. The authority stressed that shares are distributed to the daughter,...

ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) has completed the e-link project with four freezones to integrate and create a unified database of economic licenses in the Emirate of Abu Dhabi. These include KEZAD Group, which consist of 12 economic zones, Abu Dhabi Airports Free...

BRUSSELS, BELGIUM - EU energy ministers met Thursday to debate measures to mitigate the energy crunch in Europe but were divided over a gas price cap proposal slammed by many as a "joke". They were to discuss a proposal by the European Commission, unveiled just two days earlier, that would...

Riyadh, Saudi Arabia---Saudi Arabia has deposited 891 million riyals in subsidy to the beneficiaries of a housing program, Iskan, aimed at raising the percentage of homeownership to 70 percent by 2030 under the kingdom’s Vision 2030 transformation initiatives. The subsidy for the month of November was deposited into the accounts...

Wednesday's much-anticipated minutes showed most US central bank chiefs felt smaller increases would "likely soon be appropriate" as the economy shows signs of weakness following almost a year of monetary tightening.

The curbs in Zhengzhou are part of China's national zero-tolerance approach to Covid, which involves grueling lockdowns, travel restrictions and mass testing. However, nearly three years into the pandemic, Covid cases are now higher than they have ever been in China. There were 31,444 domestic cases on Wednesday, the National...

An estimated 340 million international arrivals were recorded in the third quarter of 2022 alone, almost 50% of the nine-month total.

A pick-up in aircraft orders boosted demand for big-ticket US manufactured goods in October, with numbers rising more than expected, government data showed. Durable goods orders rose one percent to $277.4 billion last month, up from a revised 0.3 percent bump in September, the Commerce Department reported. Transportation equipment led...

ALEXANDRIA, EGYPT - Jordan's Minister of Transport Maher Abu Al-Samen discussed with his Egyptian counterpart Kamel Al-Wazir ways and means of cementing bilateral cooperation in various spheres of transportation. The talks were held on the sidelines of the Council meeting of Arab Transport Ministers in Alexandria during which Al-Samen, also...

ABU DHABI, UAE - The Abu Dhabi Judicial Academy (ADJA) celebrated the graduation of the first batch of the foundation training program for legal researchers. The 'Certified Government Legal Advisor' program was implemented in cooperation with Abu Dhabi School of Government (ADSG), with a total of 554 training hours and...

In a dry country where access to water is already far below the 1,700 cubic meters per resident per year the United Nations defines as "water stressed", the drought-tolerant cactus is a safer bet compared with thirstier crops.

The latest data shows “continued and sustained growth” in intellectual property filings, “driven largely by increases from Asia.

"The UAE economic model is based on developing the national entrepreneurship system and enhancing the participation of Emirati entrepreneurs and startups, as they represent a major strategic partner in advancing the UAE development process and driving sustainable growth in new economic sectors," he adds.

With its revenues buoyed by high hydrocarbon prices over the past year, Algeria intends to double its defense budget to $23 billion next year. Africa's top natural gas producer has seen a spike in tensions with its neighbor Morocco over the disputed Western Sahara.

Raising capital, in general, has become difficult for startups in wake of global and regional issues but the Kingdom is in better position, says Nomow's Sumaya Ali Algabbass.

The country's inflation has risen with global trends and is expected to average just over 5 percent this year, while fiscal and external surpluses have increased further, benefiting from the higher oil prices as well as the removal of the temporary COVID-crisis related fiscal support, IMF said.

Amman, Jordan— Jordan and Iraq have renewed their commitment to deepen political and economic ties between the two neighboring countries. In this connection, King Abdullah has held talks with Iraq Prime Minister Mohamed Shia Al Sudani. The talks, held at Basman Palace, covered the deep-rooted ties between the two countries,...

Beijing will adopt industry, region and enterprise-specific measures to secure the sound development of key industries.

High inflation and the West's sanctions on Russia for its Ukraine invasion besides the supply chain disruptions caused by China's intermittent Covid-19 restrictions intensify the decline.

A final COP27 statement covering the broad efforts to grapple with a warming planet held the line on the aspirational goal of limiting global warming to 1.5 degrees Celsius from pre-industrial levels. It also included language on renewable energy for the first time, while reiterating previous calls to accelerate "efforts...

The country produced 18.5 billion cubic metres of natural gas in October, up 12.3 percent from a year ago.

Doha, Qatar— The Industrial Production Index (IPI) of Qatar has increased by 4.9 percent in September of 2022 when compared to the same period of the last year, according to Planning and Statistics Authority. According to the press release, the index of the mining sector showed a decrease by 2.8%...

ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) has launched the 'Abu Dhabi Smart Manufacturing Index', that guides and facilitates private sector players’ transition to Industry 4.0 technologies. This is a part of its initiatives and objectives set forth by the Abu Dhabi Industrial Strategy which...

Doha, Qatar—Qatar has recorded a trade balance surplus in the third quarter of 2022 of $29.47 billion up from $15.87 billion in Q3 of 2021, an increase of 85.6 percent. The Planning and Statistics Authority (PSA) issued the press release on "Quarterly Foreign Merchandise Trade Statistics, Q3 2022 State of...

Nations hit by the impact of global warming can now be compensated from the "loss and damage" fund created by the UN's COP27 climate summit. The fund was approved by consensus following two weeks of contentious negotiations over demands by developing nations for rich polluters to compensate them.

Post Covid, professionals are reviewing and updating their skills to stay competitive in the job market where remote work ha becoming increasingly popular, says a report.

Saudi equities rose on November 13 but the index fell during the rest of the trading days. UAE stocks started on a downward trend but finished the week higher.

Acquisition will likely close in Q1 2023, Czech firm said.

The pact were inked during the B20 Summit in Bali, Indonesia.

SHARJAH, UAE - The 9th edition of the Sharjah International Travel and Tourism Forum (SITTF) is set to kick off at the Sharjah Expo Centre on November 24, 2022, under the theme 'Building a Resilient Future for Tourism'. The forum will be held under the patronage of Sheikh Sultan bin...

Asia-Pacific leaders added their voices to international pressure on Russia over its invasion of Ukraine, issuing a summit statement saying "most" of them condemned the war. The 21 members of the Asia-Pacific Economic Cooperation forum issued a joint declaration in Bangkok criticizing the conflict and the global economic turmoil it...

Doha, Qatar— FIFA president Gianni Infantino hit back at criticism of Qatar's human rights record on Saturday, blasting the "hypocrisy" of Western critics on the eve of the World Cup kick-off. Infantino was speaking at his opening press conference of the tournament in Doha. "This moral lesson-giving -- one-sided --...

Sharm el Sheikh, Egypt—Climate negotiators were grappling for an agreement Saturday at the UN COP27 in Egypt after high stakes talks went deep into the night with key sticking points over funding for countries wracked by climate disasters and ambition in tackling global warming. The meeting at the Red Sea resort of...

The MoU was inked on the sidelines of the 18th edition of Manama Dialogue 2022.  

ABU DHABI, UAE - The Indonesian Government, G42, a UAE-based AI and cloud computing company, a global nonprofit OceanX and G-Tech Digital Asia (G-Tech) have announced the signing of a Letter of Intent to establish a collaboration to develop ocean research to help protect the marine environment. The Letter of...

Global main stock markets rallied as investors fished for bargain shares and shrugged off losses elsewhere, but oil prices fell as concerns over the global economy persist. London stocks were lifted by official data showing UK retail sales rose 0.6 percent in October, rebounding from a 1.5-percent slump in September....

After a first shipment of Russian fertilizer blocked in European ports heads for Malawi next week, a second batch should go to West Africa, the United Nations said. The news comes following talks between Moscow and the UN this week, aimed at ensuring that vital Russian fertilizer exports are not...

ABU DHABI, UAE - Abu Dhabi Fund for Development (ADFD) participated in the first plenary session of the Council of Foreign Investors in Uzbekistan. The session was held under the chairmanship of President of Uzbekistan Shavkat Mirziyoyev. The discussions focused on fostering economic development in Uzbekistan by facilitating investment in...

They would set up UAE's largest aluminum recycling facility.

ABU DHABI, UAE - UAE Minister of Economy Abdullah bin Touq Al Marri visited the Havana International Fair 2022 in the Republic of Cuba, at the invitation of the Cuban government. The visit was aimed at exploring opportunities for cooperation and establishing new economic partnerships between the UAE and Caribbean...

Swedish officials confirmed the September blasts which destroyed sections of the Nord Stream pipelines carrying natural gas from Russia to Germany under the Baltic Sea were acts of sabotage. "The analyses found traces of explosives on several foreign objects" found at the sites, prosecutor Mats Ljungqvist said.

US media have previously reported that the platform and its various branches will lay off about 10,000 employees. Amazon did not confirm the figure, but he said that the process had begun and would continue early next year. The first teams affected were those dealing with the brand's electronic devices...

Qatar faces the challenge to accommodate 1.2 million fans expected to attend the FIFA World Cup.

He was speaking at the Sharjah–India Business Roundtable -- organized by the Sharjah FDI Office (Invest in Sharjah), in collaboration with the Consulate General of India, Dubai -- to explore greater economic and commercial relations and synergies between the two stakeholders.

As the world gears up for the FIFA World Cup 2022 in Qatar, the positive ripple effect is being felt in the business fraternity across the Gulf region, especially in the UAE.

Britain unveiled a painful budget with $65 billion of tax hikes and spending cuts despite confirming its economy was in recession. A day after official data showed UK inflation rocketing to a 41-year high above 11 percent, Finance Minister Jeremy Hunt triggered an era of austerity following the calamitous tenure...

Firm's result is seen as a gauge of Chinese consumer sentiment.

RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) won an award at the ninth edition of the Maritime Standard Awards. The awards is an annual industry event that felicitates top performers in the shipping, ports, and related sectors spanning the Middle East and the Indian Subcontinent. The award crowns...

Firm posts FY 2021-22 net profits of around US$4.6 billion.

Ukraine is one of the world's top grain producers, and Russia's invasion of the country blocked 20 million tons of grain in its ports before the United Nations and Turkey brokered the deal in July. On Wednesday, Turkish President Recep Tayyip Erdogan said at a press conference at the G20...