US National Security Advisor Jake Sullivan told CNN on Sunday that Biden would "act methodically, strategically" in re-evaluating US-Saudi relations, adding that the US leader had "no plans" to meet the crown prince at a November G20 summit in Indonesia. Russell Lucas, a Middle East expert at Michigan State University,...

Paris, France— Russia's invasion of Ukraine and the resulting economic fallout have thrown four million children into poverty across eastern Europe and Central Asia, the UN children's agency said Monday. "Children are bearing the heaviest burden of the economic crisis caused by the war in Ukraine," UNICEF said. The conflict "and...

Now is the time for emerging market policymakers to batten down the hatches. Eligible countries with sound policies should urgently consider improving their liquidity buffers by requesting access to precautionary instruments from the Fund, adds the IMF's Economic Counsellor Gourinchas.

The Sharjah Chamber of Commerce and Industry participated in the international conference to mark the 100th anniversary of the Egyptian Chamber of Commerce in Alexandria and the 40th anniversary of the Federation of Mediterranean Chambers.

The anti-corruption commission announced Sunday it has launched an investigation and said in a statement that it will provide the judiciary with all the information and documents it gathers "so that it can make the appropriate decisions" on individuals implicated in the case.

The agreement in principle, reached between IMF staff and Tunisian authorities meeting this week in Washington, still requires the approval of the Fund's board, which is scheduled to discuss the matter in December.

All travelers to Qatar will need the pass to enter from November 1, whether they intend to watch a game or not. The card acts as a visa, match ticket and transport ticket. Saad Al-Suwaidi, head of the Hayya pass service, said that 1.5m-1.7 million people have so far applied...

UAE Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini met with India's Minister of Finance Nirmala Sitharaman on the sidelines of the G20 meetings in Washington.

Stormy US-Saudi relations have seen new strain over Riyadh's recent support for oil production cuts, with Biden warning of unspecified "consequences." The move last week by OPEC+ -- composed of the Riyadh-led OPEC cartel and a group of 10 exporters headed by Russia -- would reduce global output by up...

The Foreign Experts Court of the Abu Dhabi Judicial Department (ADJD) has managed to maintain high adjudication rates in the cases brought before it over three years since it started operating in 2019.

Riyadh, Saudi Arabia-- Saudi Arabia's Deputy Minister of Industry and Mineral Resources for Mining Affairs Khalid bin Saleh Al-Mudaifer said Sunday that the kingdom aims to establish a world-class business system in cooperation with South Africa, which he said was the most suited partner for achieving these goals. In his...

During his two-year tenure, the minister will work with the committee that include ministers, and the Board of Governors of the WBG and IMF to manage its programs related to sustainable and comprehensive economic development.

Washington, US-- International Monetary Fund and Egyptian authorities have agreed to finalize their work to reach a Staff-Level Agreement very soon, the IMF has said. Director of Communications at the IMF Gerry Rice said in a statement that "IMF staff and the Egyptian authorities have held very productive in-person discussions...

Washington, US—Bahrain has called for adoption of innovative solutions to encourage economic growth and sustainable development goals for all countries. The country's Finance and National Economy Minister, Shaikh Salman bin Khalifa Al Khalifa, has stressed the importance of strengthening international cooperation. The minister  took part in the meeting of the...

The agreement would result in partnership in encouraging direct investment, communications and information technology, exploring the establishment of a joint investment fund between the two nations.

The British government said the Free Trade Agreement is a major economic opportunity and plays a key role in the relations between UK and GCC.

Reacting to British PM Liz Truss's abandoned tax cut reform, US President Joe Biden has termed it a "mistake" as the Conservative leaded went into crisis talks to hammer out a new budget plan. British tax cuts were the centerpiece of a radical economic reform announced by Truss and her...

The hard-left CGT union, which launched the industrial action three weeks ago, said that workers at three TotalEnergies sites had decided to extend their strike.

UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said that the crises facing the world today put the health and lives of millions of people at stake without distinguishing between developed and developing countries.

The UAE stock market followed the trend of other markets worldwide and ended the week on a high note but the Saudi TASI index closed down 1.1 percent.

LuLu Exchange – one of UAE’s leading financial service providers, announced that it has signed an agreement with the country's Ministry of Interior to launch a digital KYC process through new-age facial recognition on its cross-border payments app, LuLu Money.

The fund trimmed its world growth forecast to 2.7 percent in 2023, and its chief economist Pierre-Olivier Gourinchas cautioned that the next year would feel like a recession for many people. Throughout its meetings of financial chiefs this week, the crisis lender stressed that the priority was for central banks...

Continuing with the kingdom's role to support "everything that will contribute to de-escalation," Saudi Arabia has announced $400 million in aid for Ukraine. Saudi Crown Prince Mohammed bin Salman spoke to President Volodymyr Zelensky by phone, conveying the kingdom's eagerness to support mediation.

MENA residents' satisfaction and expectations about how services can and should be delivered have been radically altered due to the COVID-19 pandemic.

Berlin, Germany - Germany on Friday said it had filled its gas reserves to 95 percent of capacity faster than expected as it prepares for a winter deprived of Russian energy supplies. Europe's largest economy had been heavily dependent on Russian gas and has raced to bolster its reserves after...

Large US banks reported a round of solid quarterly profits, but cautioned of rising recession risks as the economy absorbs higher inflation and a dramatic shift is central bank policy. JPMorgan Chase set aside US$808 million in case of bad loans, while Citigroup reserved for $370 million in potential losses...

Russian oil giant Rosneft has filed a complaint against the German government for taking control of its German-based refineries, a court said, as energy tensions run high following Moscow's war in Ukraine.

GlobalConnect is a fiber-based data center services provider.

Close to 200 years after the business hub of New York City was named as downtown, the word has entered the lexicon of business and commerce in the Middle East, with many areas being referred to by it.

Defunct cell phones are just the tip of the 44.48-million-ton iceberg of global electronic waste generated annually that isn't recycled.

JV will help in strengthening VW's presence in China.

The firm approved a $1 billion share buyback after Q2 result.

Firm owns Uniqlo, Comptoir des Cotonniers clothing brands.

Private cars will be banned from many streets and residents near some stadiums will need permits to get to their homes, organisers and government officials told a press conference as they outlined measures to avoid a World Cup jam. More than one million fans are expected to visit during the...

The fund's comments, in its latest Fiscal Monitor report, come as food prices have surged by half since 2019 while energy bills have soared in the wake of Russia's invasion of Ukraine. Countries spent heavily to protect their economies during the pandemic, then faced supply chain issues as they emerged...

The 13-nation OPEC cartel and its 10 allies headed by Moscow angered the White House last week with its decision to cut production by two million barrels a day from November, raising fears that oil prices could soar.

The MoU aims to enhance the cooperation between the two parties to spread awareness and introduce the initiatives and programmes offered by NAFIS.

Most of the respondents in the poll feel that GCC will weather the gathering economic storm and come out unscathed, a view corroborated by the IMF and the World Bank.

Nearly 200 migrants attempting to reach Europe across the Mediterranean Sea were intercepted by Tunisian coastguards over the weekend. In what is being called "rescues" the authorities launched nine separate operations off the southern and north-eastern coast to bring them to the shore.

About 42.6 percent of jobs in the region will be automated by 2030, ahead of the global average of 32 percent, predicts a McKinsey report.

MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer received Consul-General of Canada to Dubai and the Northern Emirates Jean-Philippe Linteau at GITEX Global 2022.

Dubai, UAE---The UAE Federal Tax Authority (FTA) has announced that the new "EmaraTax" integrated platform will be launched later this year following an extensive period of assessment, consultation and development. EmaraTax will significantly enhance the way that taxpayers can access the FTA’s services, pay their taxes and obtain refunds, an...

The exchange rate reached more than 5,000 Syrian pounds to the US dollar for the first time since the start of the conflict more than a decade ago. Syria's official exchange rate has stood at around 3,015 pounds to the greenback since Sept-- compared to 47 pounds to the dollar...

Stock markets and oil prices slumped as investors grow fearful that more big interest rate hikes will tip economies into deep recessions. The mood darkened also on the worsening Ukraine war and weaker demand expectations in China. Analysts said US consumer price index data released later this week will be...

The Ministry of Human Resources and Emiratization (MoHRE) of UAE announced that an 'Unemployment Insurance Scheme' for employees of the federal government and the private sector has come into force.

German Chancellor Olaf Scholz criticized US climate protection plans that would shield domestic companies from foreign competition, saying they could trigger "a huge tariff war". Unease has been growing abroad about US President Joe Biden's landmark "Inflation Reduction Act", which includes tax breaks for US-made electric cars and batteries.

The agency's report, published ahead of meetings of International Monetary Fund, the World Bank, and also of G20 finance ministers in Washington, highlighted the need for swift action. But UNDP chief Achim Steiner told reporters in Geneva that despite repeated warnings, "little has happened so far, and the risks have...

Erdogan still hopes to bring Putin and Ukrainian President Volodymyr Zelensky together for truce talks that neither side particularly wants but which Turkish officials insist are both essential and realistic.

The UN and Oxfam have previously decried the unequal distribution of vaccines from richer Western countries to lower-income ones, particularly in Africa, putting lives at risk.

The week had already seen action taken by the BoE and UK government aimed at bringing calm to markets. The move is in response to soaring UK bond yields and after the pound tumbled to a record low against the dollar since the government of new Prime Minister Liz Truss...