With the demand for gas rising worldwide because of an energy crisis sparked by Russia's invasion of Ukraine, Lebanon hopes that an offshore discovery would ease its current unprecedented financial downturn. But more than a decade since it declared its maritime boundaries and an Exclusive Economic Zone, it still has...

The failure to flesh out her economic plan failed to calm the jittery markets, however, and the pound slid 2.01 percent against the dollar, falling to as low as $1.1241 after her address.

In 2021, Dubai hosted qualifying slaloms for the Beijing Winter Olympics in the refrigerated dome of a huge shopping mall with the temperature 30 Celsius (86 Fahrenheit) outside. Saudi Arabia has been betting heavily on sport, hosting Formula One, the Dakar Rally, a cycling tour, boxing title fights and the...

The 13-nation OPEC cartel headed by Riyadh and its 10 allies led by Moscow agreed to reduce output by two million barrels per day from November at a meeting in Vienna, the group said in a statement. It is the biggest cut since the height of the Covid pandemic in...

The EU is "ready to discuss" a price cap on gas within the bloc to bring down soaring energy costs, European Commission chief Ursula von der Leyen said Wednesday. Her comment, to the European Parliament, signaled a shift in tone after powerhouse EU country Germany had expressed worries that a...

Presenting a revision of their annual trade forecast, WTO economists said they expected the volume of global merchandise trade to grow 3.5 percent this year, which is slightly higher than their expectations in April. But they forecast it would grow by only one percent in 2023 -- dramatically down from...

Cynthia Zarazir, who was elected to parliament in May, is the latest in a growing number of angry depositors who are forcing Lebanese lenders to unlock savings trapped under informal capital controls imposed in the face of an unprecedented financial crisis.

S&P Global's latest data reveals that the UAE has recorded a strong growth in business across the non-oil economy even as its Purchasing Managers’ Index slightly took a dive to 56.1 in September over the previous month.

Prime Minister Liz Truss on Sunday conceded she should have better prepared Britain for her plan, which went further than many had expected.

Morocco - the world's top producer of hashish according to the United Nations - lies on Europe's doorstep and is potentially well placed to become a top legitimate exporter. But a domestic crackdown on growers, slow progress in issuing licenses for legal production and strong competition from European operators has...

Soaring energy prices fuelled by Russia's war in Ukraine have forced a new reality upon European nations, where people are asked to limit the electricity they use for heating, lighting, and cooking. Some cities keep street lights on for shorter lengths of time, and in Paris, the lights illuminating the...

The Riyadh Chamber hosted a meeting in which 23 Russian companies and representatives of the Saudi Arabian business sector participated.

Germany pushed back against critics of a 200-billion-euro ($198-billion) energy fund, as Berlin faces fresh accusations it is going it alone in helping citizens face a historic price shock.

The visas currently under process, even those in the last stages of completion, will also be valid for two years only, UAQ Free Zone tells its members.

Asian and European stocks rallied and the dollar dipped as weak US data sparked hopes the Federal Reserve could ease its interest-rate hiking plans. Frankfurt and Paris equities soared over three percent in value after similar stellar gains in Tokyo, while London won two percent. Central banks across the world...

Firm aims to expand its utilities, energy investments.

"The deserts and mountains of Saudi Arabia will soon be a playground for winter sports," the Olympic Council of Asia (OCA) said in a statement on the decision made during its general assembly meeting in Phnom Penh. The Saudi bid was "unanimously approved", the statement said, noting that the megacity...

Regulators have begun to pay attention, with US Securities and Exchange Commission Chairman Gary Gensler suggesting proof-of-stake looked like a securities market that would fall under his remit.

The agreement was signed between the President of the Civil Aviation Authority of Saudi Arabia Abdulaziz bin Abdullah Al-Dialej and his counterpart the President of Civil Aviation of China.

The OIC, a 57 member body, has been working on a mechanism for the investment dispute redressal among member states for years now.

The project will support Egypt's integration into global value chains and its efforts to become a regional trading hub.

The world's richest countries have the highest happiness scores, which probably explains why Lebanon, facing its worst-ever economic crisis, ranks low in the MENA region.

Turkey's foreign minister signed a deal in Libya's capital Monday allowing for oil and gas exploration in 'Libyan waters'.

UAE's Ministry of Finance (MoF) participated in the third Framework Working Group (FWG) meeting within the G20 Finance Track for 2022.

UAE Ministry of Human Resources and Emiratization has launched the Customer First Forum, comprising virtual sessions on a weekly basis on queries of employers and employees in the private sector and citizens seeking jobs.

Turkish inflation jumped to a new 24-year high exceeding 83 percent in September, official data showed Monday after the central bank cut interest rates despite surging prices.

Rainfall in Morocco is set to decline by 11 percent and average temperatures are set to rise by 1.3 percent by 2050, according to forecasts from the Ministry of Agriculture.

In a project launched at Dubai's gleaming Museum of the Future, it announced that the UAE's economy ministry was setting up shop inside the immersive virtual world that is now taking shape. Those who don their virtual reality goggles or use other means to venture within will find a ministry...

For most of Gaza's 2.3 million residents, living under a 15-year-old Israeli blockade, power cuts are a daily fact of life that impact everything from homes to hospital wards.

The jump comes after both main contracts suffered hefty losses in recent months on demand fears caused by an expected recession in major economies.

Saudi Arabia hosted a meeting of the GCC Financial and Economic Cooperation Committee to broaden economic cooperation among the GCC countries.

IMF expects the Kingdom to become one of the world's fastest-growing economies, recording a growth of 7.6% this year

With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent increase over 2020.

Riyadh, Saudi Arabia - Saudi bank loans granted to public and private sectors grew 15 percent  by the end of August to SAR 2.359 trillion ($630 billion), compared to SAR 2.049 trillion ($550 billion) a year earlier, according to the Saudi Central Bank (SAMA). Private-sector lending also increased by 15...

UAE Ministry of Culture and Youth participated in the UNESCO World Conference on Cultural Policies and Sustainable Development – MONDIACULT 2022, which took place in Mexico.

The kingdom recovered quickly from Covid-induced recession and is reaping the rewards of high global energy prices and increased energy production.

The Sharjah Chamber of Commerce and Industry (SCCI) has organized a forum to discuss ways to boost economic ties and deepen commercial collaboration with Russian business community.

As the countdown to the start of the World Cug gets underway, Qatar has accelerated efforts to ready luxury hotels and bargain apartments for a million or more footfall fans. Hundreds of laborers are working on 211 meter high Katara Towers where VIP guests of FIFA will stay during the...

"The toll of destruction, damage, and dislocation in Ukraine is staggering and continues to grow," Anna Bjerde, the bank's regional vice president for Europe and Central Asia, said in the statement.

The Nord Stream 2 pipeline is no longer leaking under the Baltic Sea because an equilibrium has been reached between the gas and water pressure, a spokesman said. "The water pressure has more or less closed the pipeline so that the gas which is inside can't go out," Nord Stream...

The OPEC+ oil cartel will meet in Vienna next week for the first time since Covid curbs were introduced in 2020, the organization said.

The price of 90-octane gasoline and 95-octane gasoline will decrease by 60 fils in October.

Saudi Arabia is expecting to record an increase in its budget surplus in 2022 to S24 billion, according to the kingdom's Minister of Finance. The top oil exporter of the world is hoping to see its GDP grow by 8 percent, and it expects inflation to be around 2.6 percent.

CIOs should consider new possibilities enabled by graphene-based technologies and start to identify emerging suppliers. While elements of business composability are already practiced, there are opportunities for CIOs to take it to the next level and prepare for the flexibility of disposable technology, he adds.

The Department of Health – Abu Dhabi (DoH) launched the first edition of the Healthcare Research and Innovation Grant, a monetary fund that fosters research and innovation efforts among healthcare professionals in the emirate.

The Water, Energy, Technology and Environment Exhibition (WETEX) and Dubai Solar Show (DSS) saw a large turnout of visitors in its 24th edition.

Stoked by a staggering 40.8 percent rise in energy prices, the yearly inflation rate in the 19-country single currency area hit its highest level since records began, according to Eurostat. The historic level of inflation will encourage the European Central Bank to stay on its current path of rate hikes.

India represents a key market to expand the sport, organizers said, citing a population of 1.4 billion people and more than 200 million motorcycles.

Jordanian Prime Minister Bisher Al-Khasawneh commended the continuous support of IsDB for economic projects in Jordan including help in the modernization of the public sector.

Big tech platforms have been suffering from the economic climate, which is forcing advertisers to cut back on marketing budgets, and Apple's data privacy changes, which have reduced leeway for ad personalization. Snap and e-commerce colossus Amazon are among tech firms that have announced workforce cuts this year.