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...

The gross domestic product increased 2.1 percent annually between July and September compared to the previous three months.

The initiative, launched at UN climate talks along with France, Germany, the Netherlands and Denmark, will combine "existing and new" programmes to prepare for future impacts of a warming world, European Commission Vice President Frans Timmermans said, without detailing the total amount of new finance.

The alliance had committed to phasing out oil and gas production when it was launched at UN climate talks in Glasgow last year, hoping to inspire a global movement toward ending fossil fuels. A year later it has just signed up two countries as new friends but no large fossil...

Abu Dhabi, UAE -- Abu Dhabi Islamic bank (ADIB) and Abu Dhabi Global Market (ADGM) will collaborate to support the growth needs of the financial community of Abu Dhabi. They signed an agreement under which the ADIB will provide clients with ADGM licensed managers for Sharia compliant banking services and...

Domestic fuel bills rocketed further despite the UK government's energy price freeze as the market faced fresh fallout from key producer Russia's invasion of Ukraine. Runaway inflation comes despite Britain's energy support, which sought to limit annual energy bills at an average of £2,500 per year.

The 27-nation bloc has also placed an embargo on Russia coal. While it has not banned natural gas imports from Russia, Moscow has slashed supplies to the EU.

Sharm el Sheikh, Egypt—Kuwait is planning to achieve carbon neutrality in the oil and gas sector by 2050 and across the country by 2060. In this regard, Kuwait intends to embrace a national strategy to achieve the target, according to Kuwait's Environment Public Authority chief. This stems from the country's...

Launched as part of 'Projects of the 50', the program aims to accelerate the UAE's development journey and boost the economy.​ 

The G77+China block of more than 130 developing nations called in a position paper for a special fund "for assisting developing countries in meeting their costs of addressing non-economic and economic loss and damage" caused by extreme weather disasters and rising sea levels.

The two Gulf countries play a major role in strengthening the economic and sustainable development in Indonesia, which is hosting the 17th G20 Summit.

US wholesale prices continued to rise in October but at a slower pace than in the prior month, according to official data Tuesday which will add to rising hopes that inflation has peaked. The data added traction to growing expectations the Federal Reserve will be able to dial back its...

Settlement on opioid cases hit earnings of the firm.

Firm's adjusted net profit grew to $16.5 million in Jan-Sep 2022.

Pact will help SMEs in UAE gain access to key banking services.

Firm approved interim dividend payment of US$54m.

Dubai, UAE— Etihad Credit Insurance (ECI) has reviewed its programs and initiatives in a meeting chaired by Abdulla bin Touq Al Marri, UAE Minister of Economy and Chairman of the Board of Directors of ECI. The meeting reviewed a series of ECI’s comprehensive programs and initiatives, which are aligned with...

In order to shore up its economy battered by the Covid pandemic and political turmoil, the EU has signed off on a $103 million grant to cash-strapped Tunisia. The grant, according to EU, aims to support economic recovery efforts and consolidate the progress already made in distributing social aid.

Eyeing a joint G20 declaration that would condemn Russia's eight-month-old invasion and threats to use nuclear weapons, US and European officials painted the summit in Bali as evidence of Russia's deepening isolation. "I think you're going to see most members of the G20 make clear that they condemn Russia's war...

BALI, INDONESIA - Speaking at the B20 Summit in Bali, Indonesia, Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi provided details on how the UAE continues to work to mobilize international efforts to stimulate trade and investment flows around the world. He said, in the keynote...

Many Gulf states, including the region's two biggest economies, raised key interest rates earlier this month after the US Fed hiked its key policy rate.

Robust property sales helped firm enhance revenue.

United Nations Secretary-General Antonio Guterres hoped Russia would extend the deal that gives safe passage to Ukrainian grain shipments. The UN chief, addressing reporters in Bali ahead of a Group of 20 summit, said talks over the last week had delivered "progress" on the deal that is to end on...

SOLO, INDONESIA - President Sheikh Mohamed bin Zayed Al Nahyan and President Joko Widodo of Indonesia held talks aimed at further strengthening relations between the two countries. Their meeting came as part of the UAE President's working visit to Indonesia to participate in the G20 Leaders' Summit at the invitation...

European countries have been scrambling for alternative sources of gas after the continent's former top supplier, Russia, slashed exports in apparent retaliation for Western sanctions over Moscow's invasion of Ukraine in February.

Against the backdrop of the war in Ukraine that has fueled food and fuel prices, US Treasury Secretary Janet Yellen has said that the best way to end world economic tumult was to stop the Ukraine war. Speaking ahead of the G20 summit in Indonesia, she said, "ending Russia' war...

Passion for football in the Middle East runs deep, but a week before the start of the World Cup, the fervor is not universal as high costs are keeping many MENA fans away.

Greater investment in sustainable food cold chains is needed to reduce hunger, provide livelihoods to communities and adapt to climate change, two UN agencies said in a report launched at the COP27 climate change conference underway in Sharm El-Sheikh, Egypt.

The G20 health ministers have agreed to establish a pandemic fund.

The adaptation and agriculture thematic day at COP27 focused on how the world will feed eight billion people.

Mozambique has started exporting liquefied natural gas (LNG) produced in the country's restive north, President Filipe Nyusi said. The first export shipment of gas from the off-shore Coral Sul plant, managed by Italian company Eni, has left the country, Nyusi said in a video statement. He said the shipment was...

The Kingdom's goal is to reach zero emissions by 2030.

London, UK— King Abdullah of Jordan and UK Prime Minister Rishi Sunak have met in London to discuss the development of strategic relations between their countries. The king expressed Jordan’s keenness to advance its friendly ties with the UK and bolster cooperation in the political, economic and defense fields, Jordan...

United Nations, US—Reiterating their pledge to continue providing aid to Afghanistan, Qatar and Kuwait have said they will continue to work with international relief organizations in order to ensure food security for the country. Sheikha Alia Ahmed bin Saif Al-Thani, UN Permanent Representative of Qatar, said at a UN General...

The Ministry of Climate Change and Environment (MOCCAE) introduced the second edition of the UAE Green Business Toolkit in partnership with the Global Green Growth Institute (GGGI) at the 27th United Nations Climate Change Conference (COP27), held in the Egyptian city of Sharm El Sheikh.

DFM index jumped 0.6 percent, Abu Dhabi index rose 0.1 percent, Saudi Stock Exchange varied as index ended its trading with a fall of 1.7 percent, losing 195.48 points.

SHARM EL SHEIKH, EGYPT - GE (NYSE:GE) signed a framework agreement with the International Renewable Energy Agency (IRENA) to support both climate change and energy security. The agreement was signed by Francesco La Camera, Director-General of IRENA and Roger Martella, Chief Sustainability Officer of GE at the 27th Conference of...

DOHA, QATAR - Qatar plans to open a new center in Jordan for issuing visas in the near future, in order to complete procedures for acquiring Work Residence Permit. The Qatari Ministry of Interior said five new centers for Qatar visas will soon be opened in Jordan, Tunisia, Morocco, Kenya...