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...

The PBOC said the renewal would help deepen bilateral financial cooperation, facilitate trade and investment, and maintain the stability of the financial market.

Luxury goods business in the MENA region is seeing a reorganization, surprising market experts, as homegrown brands challenge the hegemony of high-end Western labels.

The Mesopotamian Marshes, a UNESCO World Heritage site, have been battered by low rainfall and reduced flows in the Tigris and Euphrates rivers due to dams built upstream in Turkey and Iran. Oil-rich Iraq, battered by decades of war, is also the world's fifth-most vulnerable country to some key effects...

Current trends in the automotive sector such as zero-emission vehicles and carbon-neutral manufacturing demonstrate the growing importance of sustainability, says a key BMW Group Middle East official.

Dubai real estate market recorded 445 sales transactions worth US$321 million, in addition to 68 mortgage deals of $121 million and 37 gifts deals amounting to $16 million on Monday, data released by Dubai's Land Department (DLD) showed.

Riyadh, Saudi Arabia-- Saudi Arabia's Industrial Production Index in August 2022 increased by 6.8 percent compared to August 2021. The IPI continued to show a positive growth rates due to the high production in mining and quarrying, manufacturing activity, and electricity and gas supply, SPA reported. In August 2022, mining...

A Saudi Arabian delegation led by Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha is on a visit to Oman.

The Algerian and French prime ministers hailed a "new dynamic" as they launched a joint economic forum during a visit to Algiers by France's Elisabeth Borne. The French PM's two-day trip to Algeria comes just weeks after President Emmanuel Macron concluded his own three-day visit in August, following months of...

Ex-Fed chief Ben Bernanke together with Douglas Diamond and Philip Dybvig were honoured for having "significantly improved our understanding of the role of banks in the economy, particularly during financial crises, as well as how to regulate financial markets".

A brief rally across trading floors last week gave way to gloom as investors grow increasingly worried that central bank efforts to tame runaway prices will plunge the global economy into recession. Adding to the stress is the upcoming corporate earnings season, which many fear will show that companies are...

The BoE "announces additional measures to support market functioning", said a statement, adding that the central bank was ready to increase the size of its UK government bond purchases under an emergency measure due to end Friday.

According to the cabinet decision, the price of large-sized white pitta bread will remain at 320 fils, while small-sized white pitta bread will remain at 400 fils.

On Monday, Turkey said it had signed a memorandum of understanding on exploration for hydrocarbons in Libya's seas with the authorities in Tripoli. "This agreement threatens stability and security in the Mediterranean," Greek Foreign Minister Nikos Dendias said in Cairo, where he met his Egyptian counterpart Sameh Shoukry.

Riyadh, Saudi Arabia - Remittances from expatriates in Saudi Arabia saw a 13 percent year-on-year (YoY) decline to SAR 11.92 billion ($3.15bn) in August, according to recent data released by the Saudi Central Bank (SAMA). On a month-on-month (MoM) basis, remittances from expats in Saudi Arabia rose 3 percent %,...

Qatar plans to hike its imports of Jordanian food products during FIFA World Cup Qatar 2022 as demand is expected to increase at unprecedented rates due to influx of over 1.5 million fans and visitors.

Egypt’s Minister of Environment Yasmine Fouad said that protecting migratory birds and biodiversity is one of the global and regional environmental challenges that her country is keen to address during the UN Conference of Parties on Climate Change (COP27).

French Prime Minister Elisabeth Borne starts a visit to Algeria with a top-level delegation, pushing for better ties with the former French colony and major gas exporter. Her two-day trip along with 16 ministers comes just six weeks after President Emmanuel Macron concluded a three-day visit aimed at ending months...

Those with bottomless budgets in the resource-rich region have attractive accommodation options too, with one third-party site offering $4,000-a-night hotel rooms and $26,000 for a "head of state" suite -- with a 30-night minimum stay.

Frankfurt, Germany— Germans in the coastal state of Lower Saxony vote in a closely-watched regional election Sunday, seen as a key test for Chancellor Olaf Scholz's Social Democrats amid an acute energy crisis. Polls open at 8:00 am (0600 GMT) and close at 18:00, with latest surveys putting Scholz's centre-left SPD...

From Formula One racing to the football World Cup, the top-notch global sporting events are coming to Middle East, bringing with it billions of dollars in sports tourism.

Sharjah Commerce and Tourism Development Authority (SCTDA) has confirmed its participation at the 42nd GITEX Technology Week, to be held from October 10- 14 2022 at the Dubai World Trade Center.

Dubai Electricity and Water Authority (DEWA) has invited international developers to send their Expressions of Interest (EOI) to implement the sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park based on the Independent Power Producer (IPP) model.

The Emirates Nuclear Energy Corporation (ENEC) announced that Unit 3 of the Barakah Nuclear Energy Plant has successfully been connected to the UAE’s transmission grid.

It remains without not only a new government but a budget too, obstructing much-needed reforms and infrastructure projects in the oil-rich but war-ravaged country. Iraq has raked in huge revenues from oil exports this year, but the profits are locked up in the central bank's coffers, which have amassed $87...

President Joe Biden, who has seen his approval erode in the face of surging prices, cheered the data as a sign of "historic progress" in the economy, even while he said there is more work to do to help American families. But the central bank likely will want to see...

An IsDB official said proceeds were used to finance projects to recover from the COVID-19 pandemic, reduce poverty etc.

The facility will enable clients globally to conduct meetings via a virtual platform, offering a unique and semi-realistic experience.

The Jordanian-German discussions covered a wide range of vital sectors including education, water and renewable energy

The package will help meet Ukraine's "urgent balance of payment needs... while playing a catalytic role for future financial support from Ukraine's creditors and donors," the IMF said in a statement adding the scale and intensity of Russia's war against Ukraine that started more than seven months ago have caused...

Delegations from France and Italy have visited the Expo Center Sharjah to discuss ways to strengthen cooperation and exchange expertise in the field of exhibitions and conferences.