Stocks mostly slid and the dollar surged after US jobs data showed only a timid slowdown in the labor market, setting the stage for further interest rate hikes. Equity markets have taken a battering as the US Federal Reserve has made it clear it intends to continue raising interest rates...

A high-level UAE delegation, on a visit to Egypt, met with senior officials of the Egyptian Ministry of Defense.

World food prices have fallen for a sixth month in a row in September, UN data showed as they continued to fall after a record reached after Russia's invasion of Ukraine. The Food and Agriculture Organization said its price index, which tracks monthly change in global prices of food commodities,...

EU leaders meeting in Prague looked to bridge divisions on how to tackle soaring energy prices as they grapple with the fallout from Russia's war on Ukraine. President Volodymyr Zelensky was dialling in from Kyiv as the bloc looks to maintain its economic and military support for Ukraine and hold...

The firm operates the world's largest silicon wafer factories.

The South Korean tech giant, Samsung Electronic, has said that it expects operating profits in the third quarter to fall 31.7 percent as a global economic downturn hit demand for consumer electronic. The latest forecast is the company's first projection of a year-on-year decline in profit for nearly three years.

As US annual inflation has soared to the fastest in 40 years, the Fed has moved aggressively this year to tamp down demand, raising the interest rates five times, for a total of three percentage points. "Inflation remains stubbornly and unacceptably high, and data over the past few months show...

The Algerian firm said in a statement that Sonatrach and its partner Naturgy have agreed to revise the prices of the existing long-term gas supply contracts taking into account market developments, It did not say which way they would be revised, but natural gas prices have more than doubled in...

With US inflation soaring new heights, the country's central bank has said more increases are likely to come this year in order to cool the world's largest economy and rein in high prices. Federal Reserve Governor Lisa Cook said 'inflation remains stubbornly and unacceptably high.'

To draw firms from around the world, the UAE and KSA have been working hard over past few years to build infrastructure comparable to that of industrialized nations.

IMF chief Kristalina Georgieva urged global policymakers to take concerted action as the risks of a worldwide recession are driven ever higher by repeated economic shocks. In a speech ahead of the fund's annual meetings next week, the IMF's managing director said it was critical to address challenges including inflation.

The move will help develop ADX derivatives market.

Air travel rose sharply in the northern hemisphere summer, traditionally the peak vacation travel season, but still remains considerably affected by the pandemic, industry data showed Thursday.

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.