This represents a 4.3 percent increase in nominal terms and the equivalent to 0.49 percent of collective Gross National Income.

Germany is looking to partner with Egypt to build the hydrogen economy as Europe seeks to diversify away from its current reliance on Russian gas.

A Tunisian soldier was killed Monday on the country's southern border during a clash with smugglers trying to transfer vehicles from Libya to Algeria, the Tunisian defense ministry said.

The Indian rupee fell to more than 80 per US dollar for the first time on record Tuesday, as the greenback extended its rally and foreign capital outflows intensified.

In 2021, the number of French tourists visiting the UAE rose to 311,570, an increase of 59 percent, compared to 2020.

Italian Prime Minister Mario Draghi sealed 15 agreements with Algeria's president Monday, ahead of the expected conclusion of another deal to boost gas deliveries and reduce Italy's reliance on Russian supplies. Draghi was received by President Abdelmadjid Tebboune, and the two went on to sign agreements and MoUs in areas...

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, Monday launched the Dubai Metaverse Strategy that aims to turn Dubai into one the world’s top 10 metaverse economies as well as a global hub for the metaverse community. The strategy aims...

UAE's Ministry of Human Resources and Emiratization (MoHRE) has honored 16 companies that achieved over triple their Emiratization ratios in two months only – June and July 2022.

Dubai Financial Market (DFM) Monday welcomed the listing of Union Coop’s shares, becoming the first cooperative society in the UAE to take this step. The move is in line with the UAE Government’s decision pertaining to the trading of cooperative societies' shares on financial markets, which aims to strengthen the...

Dubai Electricity and Water Authority (DEWA) commissioned a new 400/132 kV substation in Al Qusais Industrial Area 5, and 10 new 132/11 kV substations in different areas in Dubai, during the first half of 2022.

The past years witnessed the signing of dozens of agreements and memoranda of understanding between the two countries in various economic, cultural, military and environmental fields, the latest of which was 13 agreements signed during the visit of the French President to the UAE last December.

The European Central Bank will raise its interest rates on Thursday for the first time in over a decade, but the bank is already under pressure to do more amid record inflation.

China's banking regulator has urged lenders to extend more credit to real estate developers, as a growing number of homebuyers withhold mortgage payments on unfinished housing projects across 50 cities.

The Kingdom is stepping forward and allowing the private firms to invest in healthcare infrastructure, Sandeep Sinha, Head of Healthcare Consulting - MENA at JLL, tells TRENDS.

Dubai has retained its top rank worldwide for attracting foreign direct investment (FDI) into tourism in 2021. With AED6.4 billion ($1.74 billion) in FDI across 30 FDI projects during the year, Dubai ranked number one in FDI capital, projects, and job creation in the tourism sector in 2021, according to...

Saudi Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih said that the Saudi-US and GCC-US summits, in the presence of Jordan, Iraq and Egypt, strengthens the solid relations and strategic partnership that exists among them.

The European Union will discuss tightening sanctions against Russia on Monday, as Moscow is accused of using the continent's largest nuclear power plant to store weapons and launch missiles on the surrounding regions of southern Ukraine.

Thousands of young date palms, Iraq's national symbol, form lines that extend from the edge of the desert near the central city of Karbala and into the horizon.

A host of Chadian rebel and political groups on Saturday withdrew from talks with the African nation's military government, accusing it of seeking to destabilize peace efforts.

The euro's plunge against the dollar, triggered by the Ukraine war and mounting risks to the EU economy, has driven the two currencies to parity for the first time in two decades. The European single currency sank to $0.9952 on Thursday -- a level not seen since the end of...

The UAE delegation to the 2022 High-Level Political Forum on Sustainable Development (HLPF) at the United Nations (UN) Headquarters in New York, presented the second edition of the UAE’s National Voluntary Review Report.

Saudi Crown Prince Mohammed bin Salman warned that unrealistic policies to curb emissions could fuel inflation, as he chaired a summit bringing together Arab leaders and US President Joe Biden.

US President Joe Biden on Saturday invited his UAE counterpart, Sheikh Mohamed bin Zayed Al-Nahyan, to visit the United States this year.

The Environment Agency - Abu Dhabi (EAD) launched the 'Green Industries' environmental labeling program. The program is based on best international practices in the field of eco-labeling.

The United States Mission to Saudi Arabia has announced that Saudi citizens visitor visas (B1/B2) validity has been increased from five to 10 years and it will be applicable from August 1, 2022.

Inflation in Saudi Arabia jumped to 2.3 percent, in June, from 2.2 percent in May, driven by a rise in food and beverages prices. “Food and beverages prices were the main drivers of the inflation rate in June 2022 due to their high relative importance in the Saudi consumer basket...

Force majeure is a legal measure allowing companies to free themselves from contractual obligations in light of circumstances beyond their control.

Stocks soared Friday after retail sales data showed that US consumers continue to spend more in the latest signal of the economy's resilience despite high inflation and rising interest rates. Wall Street pushed higher on a better-than-expected 1.0 percent rise in retail sales in June.

EU auto sales slumped by 14 percent in the first half of this year, data showed Friday, as supply shortages continued to plague manufacturers. With the lack of computer chips still hobbling production, new auto sales slumped to 4.6 million in the European Union, data from the European Automobile Manufacturers...

Wall Street stocks rose early Friday as markets cheered unexpectedly strong US retail sales and better-than-expected results from Citigroup. After a pair of grim readings on US consumer price and wholesale inflation the last two days that pressured stocks, markets were pleased by data showing US retail sales jumped one...

Joe Biden -- the first US president to fly directly from Israel to Saudi Arabia -- met Saudi King Salman before participating in a "working session" headed by Prince Mohammed

Other issues to be tackled by the ministers include digital financial inclusion –- with more than a billion of the world's population still without access to a bank account -– and the deadline for an international tax rules overhaul.

Jordan's Minister of Planning and International Cooperation Nasser Shraideh held a series of meetings at the High Level Political Forum on Sustainable Development meet in New York.

Vice President and Prime Minister of the UAE Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as the Ruler of Dubai, has appointed Sheikh Ahmed bin Saeed Al Maktoum as Chairman of Expo City Dubai Authority.

Exports accounted for the largest portion of the emirate's total non-oil foreign trade, reaching 57 percent, at AED 9.539 billion.

Saudi Arabia announced Friday it was lifting restrictions on "all carriers" using its airspace, an apparent gesture of openness towards Israel ahead of US President Joe Biden's arrival. The US leader welcomed the "historic" decision, the latest conciliatory move by Riyadh concerning the Jewish state.

A UAE delegation led by Minister of Industry and Advanced Technology Dr Sultan bin Ahmed Al Jaber has concluded a two-day visit to Türkiye that took place from July 13-14 aimed at enhancing cooperation and exploring new areas for future collaboration.

Europe's main stock markets slid at the open on Thursday, as a fresh spike in US inflation reinforced expectations of more aggressive Federal Reserve interest rate hikes. In initial deals, London's FTSE 100 index lost 0.3 percent to 7,138.54 points compared with the closing level on Wednesday. In the eurozone,...

Abu Dhabi Fund for Development and the Abu Dhabi Exports Office signed two loan agreements with the Electricity and Water Authority in Bahrain to finance a water supply network project.

The EU executive, which tracks the economy of the 27 countries in the European Union, said GDP growth in the eurozone would reach 2.6 percent in 2022 and a sharply lowered 1.4 percent in 2023. Inflation would end the year at 7.6 percent, much higher than previously forecast, and 4.0...

US inflation surged to a fresh peak of 9.1 percent in June, further squeezing American families and heaping pressure on President Joe Biden, whose approval ratings have taken a battering from the relentless rise in prices. The 9.1 percent CPI spike over the past 12 months to June was the...

The country raised the price of a litre of 80-octance gasoline from EGP7.5 to EGP8 (US$0.424), a litre of 92-octance from EGP8.75 to EGP9.25 (US$0.49).

Global stocks fell Wednesday and the euro dipped below $1.00 for the first time in nearly 20 years after data showed a surge in US inflation last month, convincing investors that further increases in borrowing costs are on their way.

The UAE will continue to strengthen cooperation and enable positive, respectful dialogue between countries to achieve stability and prosperity for all, says the country's President.

The Paris-based agency cautioned that the global economic recovery could be derailed unless governments take measures to reduce consumption and fuel prices that pose a threat to stability in some nations. Oil prices have surged from around $80 per barrel earlier this year to over $120 at times.

Force majeure is a legal measure allowing companies to free themselves from contractual obligations in light of circumstances beyond their control. Libya's National Oil Company has repeatedly resorted to the mechanism amid blockades of oil installations throughout the years of violence and political upheaval.

The euro struck parity with the dollar for the first time in nearly 20 years on Tuesday as a cut in Russian gas supplies to Europe heightened fears of a recession in the eurozone.

The four-way meeting in Istanbul comes with Russia's invasion of Ukraine showing no sign of abating.

The region is better placed to deal with global slowdown as oil and gas prices will stay high due to supply restrictions, Jean Claus, CEO of Allianz Trade Middle East, tells TRENDS.

France's central bank said Tuesday it will push ahead with the second phase of its experiment with a digital euro with the aim of rolling out the cryptocurrency next year. Last year, the Banque de France successfully completed the first stage of its experiment with a central bank digital currency. "We'd...