With recent data showing US inflation rooted at four-decade highs, investors are increasingly pessimistic about the outlook for the global economy. Some observers have warned of a sharp recession in many countries caused by the huge rate increases, which are hitting families in the pocket.

The UAE finance ministry's Financial Restructuring Committee (FRC) recently held the second meeting of its Consultative Council.

With four out of five Lebanese now considered poor according to the United Nations, the country has been desperately seeking a bailout from the International Monetary Fund.

Iran wants billions of dollars in US assets to be unfrozen and returned to it, while the US says money must go to victims of terrorist attacks blamed on Tehran. Tehran took Washington to the Hague-based ICJ in 2016 after the US Supreme Court ordered some $2 billion in Iranian...

Adoption of metaverse technologies is part of the UAE government's strategy to diversify its economy away from oil as the country focuses on innovation and talent development.

On an eight-notch scale of rolling blackouts, the country has reached the sixth critical stage. Level six was seen in June in the middle of the southern winter amid an increase in energy consumption and pressure on production.

Riyadh, Saudi Arabia— The National Development Fund (NDF) of Saudi Arabia has since March 2020 financed SAR28 billion ($7.45 billion) to aid the healthcare and education sectors, support citizens and stimulate the local economy that was affected by Covid-19 pandemic. NDF closely monitored the consequences of the pandemic and directed...

The International Organization for Standardization (ISO) Annual Meeting 2022 starts Monday at the ADNOC Business Center in UAE's Abu Dhabi.

UAE Ministry of Health and Prevention (MoHAP) has signed a memorandum of cooperation (MoC) with Mediclinic Middle East to strengthen mutual cooperation between the Ministry’s National Center for Health Research (NCHR) and the group in health and medical research.

MD & CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer met a delegation from the Unified Economic Opportunity Commission of the Utah House of Representatives, USA.

The Sharjah Chamber of Commerce and Industry (SCCI) has recommended several measures to strengthen the emirate’s public-private partnerships (PPPs).

Soaring prices have pushed annual inflation to a 40-year high, inflicting pain on American consumers and businesses, despite the welcome drop in gasoline prices at the pump in recent weeks. The disappointing consumer price report for August, released last week, showed housing, food and medical costs continued to rise.

Jebel Ali Free Zone (Jafza), facilitated over 1.2 million metric tonnes (MT) from Dubai’s total volume of around 4.8 million MT of vehicle and transport commodities which transited through the emirate in 2021.

Oman Minister of Commerce along with a delegation met Saudi Arabia Minister of Industry where the two discussed industrial cooperation between the two countries.

The eighth World Green Economy Summit (WGES) will explore ways to improve global food security, sustainability of the food systems and the contribution of the agriculture and food production sectors to achieve a net zero future.

Speaker of the UAE Federal National Council (FNC) Saqr Ghobash discussed with Uruguay's Minister of Livestock, Agriculture and Fisheries Fernando Mattos Costa the prospects for joint cooperation in several fields.

The drop comes as the exchange rate of the Egyptian pound is seeing a decline in light of the pressures the country is experiencing due to the Ukrainian war repercussions and the decline in foreign reserves at the Central Bank.

Sheikh Abdullah said that the UAE and Israel, since the signing of the Abraham Accords Peace Agreement, have established a model for constructive cooperation.

South Korea wants to strengthen its relations with the Middle East with a focus on high-tech industries, according to Seoul’s top diplomat.

India has signed a Memorandum of Understanding (MoU) with the Gulf Cooperation Council (GCC) Secretariat on the "mechanism of consultations" between the two sides.

Stock markets mostly slumped Friday, while the British pound tanked to a 37-year dollar low as weak UK retail sales stoked global recession fears. Sterling slid to $1.1351, the lowest level since 1985, on news that British retail sales tumbled by far more than forecast in August as shoppers faced...

UAE Ministry of Finance (MoF) participated in G20 Finance Track’s fourth and last Infrastructure Working Group (IWG) meeting for 2022 on September 15 and 16.

Berlin took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted after Moscow invaded Ukraine. Rosneft's German subsidiaries, which account for about 12 percent of oil refining capacity in the country, were placed under trusteeship of the Federal Network Agency, the...

When a branch of the Byblos bank opened in the southern town of Ghaziyeh, a depositor, reported to be in his 50s, stormed the premises with his adult son. He threatened bank employs with a gun, which a Lebanese TV channel said may have been a toy, and demanded his...

With little investment the UAE, and in particular Dubai, stands to gain if, as expected, supporters opt to stay in the tourism hotspot instead of tiny Gulf neighbor Qatar during the November-December tournament. High accommodation prices in the Qatari capital Doha and Dubai's more permissive environment including a wider availability...

The deal involves a five percent annual hike to public sector wages every year until 2025. The head of the UGTT, Noureddine Taboubi, told reporters after the deal was signed that the first hike would take effect next month. "The agreement was reached after much hard work," Taboubi said.

The energy giant's H1 net profit rose to $7.2 billion.

The court dismisses appeal over $270m import tax bill.

Expo Centre Sharjah has said that it will host the International Jewelry Designers Forum on October 7.

General Authority for Statistics said the main drivers of CPI inflation were the higher prices of food & beverages and transport, which rose by 4 percent each. The cost-of-living index for August rose to 107.61 points, according to the base year 2018, compared to 104.48 points in Aug 2021.

The Saudi Ministry of Interior and the Saudi Data and Artificial Intelligence Authority (SDAIA) have announced a strategic partnership for the purpose.

President Joe Biden's administration on Wednesday approved most military aid to Egypt for a second straight year despite concerns on human rights, pointing to limited progress, officials said. Secretary of State Antony Blinken finalized a package of $1.17 billion for Egypt, which has been one of the largest recipients of...

The German government sold its last shares in the company.

The purpose of the event is to highlight the most significant advancements in the digital transformation and adoption of cutting-edge technological solutions in the sector.

It was just the latest in a string of heists as Lebanese depositors, whose savings have been trapped in banks for almost three years, take matters into their own hands.

In the EU's electricity market, the price is based on the last source used to meet demand -- often a gas-fired power plant -- and that is applied to all electricity operators, regardless of whether they use nuclear, hydro-power, solar or other sources.

In the past few years, the EU has slapped eye-watering fines on Apple and Google in tax and competition cases, and drawn up a landmark law to curb the market dominance of Big Tech. Brussels has also toughened its code of conduct on disinformation and hate speech.

BERLIN, GERMANY - German investor confidence fell in September for a third straight month, a closely watched survey showed on Tuesday, fueling fears of a looming recession in Europe's biggest economy. The ZEW institute's economic expectations index dropped 6.6 points from the previous month to minus 61.9 points, as soaring...

India, the incoming President of the Group of Twenty (G-20) announced that it will invite the UAE as one of the "guest countries" to the G-20 summit in New Delhi on September 9-10 next year.

UAE's Telecommunications and Digital Government Regulatory Authority (TDRA) has announced that it has become a member of the European Foundation for Quality Management (EFQM).

More than thirty people attempted the crossing on the vessel, with many of the survivors in an "extremely serious" state of health according to UNHCR.

PPPs boost efficiency, increase transparency in funds management, simplify processes that have cost implications, and integrate technologies, said ECI CEO

Thanks to falling gasoline prices, US inflation has slowed down in August, but not enough to satisfy policymakers, especially President Joe Biden, as high prices continue to inflict pain on American families and businesses. The annual inflation pace also is likely to have improved to 8.0 percent from the blistering...

Despite the recent slowdown, the US economy remains robust, which allows for more aggressive monetary policy tightening. The US consumer is particularly healthy, with households presenting a strong balance sheet with high levels of cash available (US$15.8 trillion), the report adds.

An integrated iron sheet production complex with a capacity of 1.2 million tonnes per year is one of the projects.

Arab countries are constructing solar and wind energy plants with a total capacity of 73.4 gigatons, which is nearly five times the region's current renewable energy production.

Stock markets rallied Monday, building on pre-weekend momentum as investors priced in the expectation of further interest rate hikes aimed at taming decades-high inflation. The euro surged, a day after German central bank chief Joachim Nagel signaled that the European Central Bank (ECB) would probably continue raising its key rate.

Norway, which has replaced Russia as Europe's leading supplier of natural gas, dashed the hopes of EU member states who wanted a cap on gas prices. After his phone call with European Commission President Ursula von der Leyen, Norway's Prime Minister Jonas Gahr Store said he was "skeptical" about a...

An International Atomic Energy Agency team of experts said the UAE's Barakah Nuclear Power Plant (NPP) had strengthened operational safety by addressing the findings of an IAEA safety review mission five years ago.

German Chancellor Olaf Scholz said Iran has failed to agree to proposals from European countries on reviving a deal on restricting its nuclear program, warning this would derail any accord in the near future. Meanwhile Israeli Prime Minister Yair Lapid visited Germany to persuade Western powers to ditch the pact...