Global oil demand will rise more than previously forecast this year as heatwaves and soaring gas prices are prompting countries to switch fuels for power generation, the International Energy Agency said Thursday. Oil prices have dropped by $30 per barrel from a peak in June due to growing supplies and...

UAE's Ministry of Climate Change and Environment (MoCCAE) hosted a meeting with licensed feed manufacturers in the country to explore their challenges and needs and brief them on the government’s future directions.

The figure is still six million higher than the pre-pandemic level of 2019, with the recovery in youth unemployment lagging behind the bounceback in other age groups. Between 2019 and 2020, those aged 15 to 24 experienced a much higher percentage loss in employment than the rest of the labor...

The Central Bank of the United Arab Emirates has issued its Financial Stability Report for 2021, which outlines the measures taken by the CBUAE to support the national economy during the COVID-19 pandemic and safeguard the stability of the financial system.

The economists said that the plunge in economic activity and the sharp cuts to foreign aid by previous supporters of the country after the US military withdrawal had sent the Afghan economy into a tailspin.

Foreign Minister Jose Manuel Albares was at Madrid's Torrejon de Ardoz airbase to meet them when the flight from Islamabad landed at Madrid's Torrejon de Ardoz airbase at around 10:15 pm (2015 GMT). The government would now work "to help these people to integrate, given that it will be difficult...

Sadr justified his calls for judicial action by noting that constitutional deadlines for appointing a new president and prime minister have been missed following last year's legislative elections.

Saudi’s Ministry of Finance and the National Center for Debt Management has partnered with Al-Ahly Financial Company to develop and launch savings bonds for individuals, and motivate them to save. This also includes discussing strategic partnerships with the private sector. The entities signed a deal regarding this, which is aimed...

The Sierra Leone-flagged vessel Razoni left the Ukrainian port of Odessa on August 1 carrying 26,000 tons of maize.

If the official consumer price data Wednesday come in above analysts' forecasts, the markets could see a sharp sell-off, analysts warned. With inflation already at the highest level in 40 years, concern is growing that further interest rate increases by the world's major central banks could go too far and tip...

Abdullah Al Muwaiji, Chairman of the ACCI, said that the export growth in Ajman was supported by the advanced infrastructure and road network.

The World Union of Wholesale Markets (WUWM) Conference 2022, which will be held in the Middle East for the first time, offers an important opportunity to reshape global food systems, according to organizers and attendees.

Jordan's Minister of Energy and Mineral Resources on Tuesday announced the formation of a Public-Private Partnership (PPP) council for mining, to deliver better services and raise the sector’s contribution to the gross domestic product.

IHG said it would resume its interim dividend

The firm's revenue increased 13 percent to US$1.27 billion

Last year, this week, the Taliban launched a final offensive to win back control of the country they ran between 1996 and 2001.

Saudi and the UAE's reliance on oil to drive economic growth has tapered off in recent years as the non-oil sector emerges as the biggest driver of growth.

Nuri al-Maliki said, "Neither the dissolution of parliament nor the change of the regime nor early elections will be possible without the resumption of parliamentary sessions."

Net sentiment for traditional banks is higher than those for challenger banks as the former have a long history in the market and have proved to be trustworthy and reliable.

The UAE’s public spending in the first quarter of 2022 totaled AED87.4 billion ($23.79 billion), an increase of 19.6 percent and equivalent to AED14.34 billion, compared to AED73.7 billion in the same period of the previous year, according to data from the Ministry of Finance. The figures also highlighted the...

Jordan and Canada on Sunday discussed enhancing bilateral development cooperation, especially in food and water security. Jordan’s Minister of Planning and International Cooperation Nasser Shraideh and Canadian International Development Minister Harjit Sajjan discussed it. The duo also explored ways to combat climate change and promote Investment opportunities. Shraideh highlighted the...

Qatar Chamber would issue a guide to economic and commercial activities in Qatar 2022, aiming to promote its economy and enhance investment in Qatar. The release of guide coincides with Qatar’s hosting of FIFA World Cup 2022, in which hundreds of thousands of visitors are likely to arrive. Qatar Chamber...

NAFIS.. Your Way, a campaign that will highlight the success stories of talented Emiratis in the private sector and the benefits of working in the private sector, was launched in the UAE on Monday. The campaign was launched by Emirati Talent Competitiveness Council (ETCC), which is chaired by Sheikh Mansour...

The Ministry of Foreign Affairs and International Corporation (MoFAIC) and Etihad Credit Insurance (ECI), the UAE's federal export credit company, have signed a Memorandum of Understanding (MoU) to promote global trade and investment.

Buyer-seller meets in the UAE on agricultural and food products with registered geographical indication (GI) tags, a week-long mango festival in Bahrain, and an international buyer-seller meet in Ladakh attended by buyers from Dubai and Oman helped boost India's export of these items by 31 percent in April to June...

The Ministry of Economy (MoE) and the Ministry of Justice (MoJ), in partnership with the UAE Financial Intelligence Unit (FIU), have announced new regulations aimed at certain real estate transactions conducted in the UAE.

The number of families that are provided inflation allowance under the UAE's Social Welfare Programme for low-income citizens, has reached 47,300, according to the Ministry of Community Development. The inflation allowance is provided for food, water and electricity and fuel. The ministry has approved the disbursement of the fuel subsidy...

The draft has been formulated in collaboration with experts from the European Union, the United Nations Economic and Social Commission for Western Asia, and the UNIDO.

Dubai attracted 7.12 million international overnight visitors between January and June 2022, recording over 183 growth compared to the 2.52 million tourists who visited during the same period in 2021.

Qatar Central Bank’s (QCB) foreign currency reserves and liquidity increased 2.79 percent to reach QR 211.32 billion ($58bn) in July 2022. The same figures were recorded at QR 205.57 billion ($56.5bn) in July 2021. QCB on Sunday showed its official reserves, comparatively last year, increased QR 4.78 billion till July...

Syria's internal commerce ministry has announced a petrol price hike of around 130 percent in the war-torn country facing fuel shortages and extended power cuts.

The Ukraine conflict has triggered the biggest immigration of high-net-worth Russians, many of whom are likely to move to the Emirates.

A high penetration of digital technologies and a tech-savvy younger consumer base among the factors that make the region a fertile ground for the flourishing of online banking. The present laws and regulations in most GCC countries have significantly influenced this sector's development. Aiding the region in its embrace of...

Mahamat Idriss Deby Itno, who seized power in the Central African nation after his father was killed battling rebels last year, is in Qatar to formally agree an accord to launch a national peace dialogue in Ndjamena on August 20.

Exports by member firms of the Amman Chamber of Industry (ACI) increased by 57 percent during the past seven months, compared to the same period last year. Media reports said exports spiked to JD4.159 billion ($5.86 billion) during the past seven months of the year, compared to JD2.656 billion in...

The establishment of over 40 financial free zones in the UAE has encouraged innovation in digital banking. The fintech market in Saudi Arabia, meanwhile, is expected to grow by 55 percent by 2033.

Forward-leaning financial institutions are ready to seize strategic opportunities to secure their stake in the future of Web 3.0. Right strategies will help traditional banks in giving an edge to their competitors in the cyberspace.

The Sierra Leone-flagged Razoni was cleared for passage through the Bosphorus Strait by a team that included Russian and Ukrainian inspectors on Wednesday, and a Ukraine embassy spokesperson had later said it was expected to dock in Lebanon's port of Tripoli at 10 am (0700 GMT) on Sunday.

The performance of the Gulf stock exchanges varied this week, affected by several factors and events, most notably the tension that rose between the US and China.

Dubai Chambers has announced a leadership change, with Hamad Buamim, President and CEO, moving on after 16 years of service. Hassan Al Hashemi, Vice President, International Relations – Dubai Chambers, has been appointed to the role of President and CEO in an acting capacity.

Several regions across the UAE are witnessing the implementation of the designs of some of the teams that participated in the first and second Solar Decathlon Middle East (SDME) to construct sustainable research centers and laboratories.

Food prices dropped significantly in July, marking the fourth consecutive monthly decline since record highs earlier this year in the wake of the situation in Ukraine, the Food and Agricultural Organization said. FAO published its latest Food Price Index, which tracks monthly changes in global prices of cereals, vegetable oils,...

The agreement aims to promote entrepreneurship and develop Small and Medium Enterprises (SMEs) in Kenya.

The move aims to explore new investment opportunities and areas for cooperation in the best interest of the two countries.

Jordan Senate's Finance and Economic Committee hosted an expert in economic affairs at the National Democratic Institute (NDI), to look into the draft law regulating the investment environment.

According to a report by the UAE's Ministry of Economy, during the past decade from 2012 to 2021, FDIs in the country increased by 116 percent, amounting to $20.667 billion in 2021 compared to $9.566 billion in 2012.

In Dubai, the real estate and properties transactions valued at $1.4 billion in total during the week ending 05 August 2022. The sum of transactions was 2,247.

UAE will set up the country’s first Industry 4.0 Enablement Centre aimed at promoting, enabling, and supporting the digital transformation and the adoption of Industry 4.0 technologies across the country’s manufacturing sector. UAE’s Ministry of Industry and Advanced Technology (MoIAT) and EDGE, which signed a memorandum of understanding, will explore...

Iraq's Ministry of Water Resources said Ankara's intends to increase the quantum of water to be released to the Tigris River, adding that a Turkish delegation will visit Iraq to look into the water reserves and construction of dams.

A cabinet session headed by Prime Minister Dr. Bishr Khasawneh, passed the charter and circulated the document to all ministries and public institutions.