Asaad Qawasmi, the Jordan Chamber of Commerce's representative for the apparel, fabrics, footwear, and jewelry sector, said that demand has plateaued since the Eid Al-Fitr.

With billions of dollars in financial reserves and money still coming in from oil and gas exports, Russia has yet to feel the full impact of the barrage of Western sanctions imposed over its offensive in Ukraine.

The decision to bring some relief to people follows in light of the high prices of vegetable oils globally.

Major oil producers led by Saudi Arabia and Russia hold talks Thursday on whether to adjust output, hard on the heels of an EU ban on Russian oil imports. Analysts had expected OPEC+ producers to likely stick to their policy of only increasing output modestly, as they have done since...

Al Marri said that the non-oil trade exchange between the two countries was valued at over US$828 million in 2021.

A joint panel of the two countries discuss the mechanism to develop and modernize previous agreements related to maritime transport.

Jordan ranked first in the Arab world and 32nd globally on the budget transparency, according to the Open Budget Survey (OBS) 2021, which was published by the International Budget Partnership. Jordan scored 61 out of 100, exceeding the global average of 45 out of 100, according to the International Budget...

President Joe Biden has said the United States will send more advanced rocket systems to Ukraine, as Russian troops press their ferocious bid to complete the capture of a key eastern city.

A withering drought and poor harvests plus price hikes fueled by the war in Ukraine are threatening Morocco's fragile economic recovery.

The global shortage of critical semiconductors is likely to last at least through next year and perhaps longer, US Commerce Secretary Gina Raimondo warned on Tuesday.

The net foreign assets of Saudi central bank rose by SR4.0 billion ($1.07 billion) to SR1.63 trillion in April, according to the data published on the website of SAMA. The kingdom's net foreign assets increased by 0.2 percent from SR1.63 trillion in March. Over the same period, the central bank's...

Jordan's oil bill went up by 49.1 percent in Q1 2022, compared to the same period in 2021, the Department of Statistics (DoS) said Monday. The report said the value of the oil bill in Q1 2022 increased to JD761 million compared to JD510 million in the same period of...

Berri's candidacy went largely unchallenged but the 84-year-old clinched only the bare minimum number of votes needed for a win -- one of his lowest counts since he first rose to the helm of parliament 30 years ago.

Germany hit the highest level of inflation in 50 years due to a rise in the cost of living, energy, and foodstuff prices. The data provided by the Federal Statistical Office of Germany indicate that levels of inflation reached 7.9 percent in May 2022. The inflation rate is calculated by...

Iraq seeks to enhance economic and commercial relations with the international community, said Hamid Al-Ghazi, the Iraqi Secretary-General of the Council of Ministers.

The US central bank needs to keep raising interest rates in big steps until inflation starts to come down, Federal Reserve Governor Christopher Waller said Monday. The Fed early this month announced the biggest increase in the benchmark interest rate since 2000, following a smaller hike in March, as it...

Qatar’s Export Unit Value Index (EXUVI) has increased by 61.05 percent  in Q1 2022 compared to Q1 2021. The Planning and Statistics Authority (PSA) released its Quarterly EXUVI for Q1 2022 as a new chain is added to statistical indicators calculated by PSA. The addition is as per the policy...

The measures adopted by Qatar’s government and Qatar Central Bank proved decisive in countering the negative impacts of pandemic and achieving economic recovery, CEOs of multiple Qatari banks said. They were speaking during their participation in the Euromoney’s Qatar Conference 2022, which began Sunday, according to Qatari media reports. The...

Sunday's decision came after a meeting with senior military officials recommending the state of emergency be lifted and people detained under an emergency law be freed.

The policy also aims to increase the number of beneficiaries from the capacity building programmes and measure the efficacy of the youth projects.

Markets rose Monday as investors rediscovered some verve after the release of healthy US data and as China eases some of its strict Covid curbs in Shanghai and Beijing, lifting hopes for the world's number two economy. The US reading lent hope that the worst of the inflation surge may...

Egypt has set its eyes upon doubling exports to $100 billion in the next few years, and building a 'strategic stockpile' of all major commodities to cope with emergencies. Speaking to media Mostafa Madbouly, Prime Minister of Egypt, said : "Today, we witness, through the launch of Industrial partnership for...

The countries allocated a US$10bn investment fund, to be managed by ADQ Holding, to accelerate the partnership objectives.

The insurance is being hailed as a step in increasing the attractiveness of the UAE labor market and its ability to attract local and international talent.

Dubai ranked first in the Middle East and North Africa (MENA) region and second in the world in attracting foreign direct investment (FDI) in cultural and creative industries (CCI) in 2021. Dubai attracted 233 new projects in the creative economy in 2021. Surpassing other major cities such as New York, Singapore...

It was a week of mixed fortunes for various stock exchanges of the GCC, with TASI remaining flat through the week, even as Abu Dhabi's index began posting gains on Frdiay.

Even as SMEs in GCC seek to do more to end gender disparity , UAE proactively leads the region in pursuing the diversity agenda, says Marketa Simkova, Partner at KPMG Lower Gulf.

This is a part of the Kingdom’s agenda to achieve sustainable development 2030 locally and internationally.

Two billion dollars are allocated in the budget for Baghdad Metro project, Iraq’s Minister of Transport Nasser Hussein Al-Shibli said on Saturday. "The project was included in the budget for the year 2022, and an amount of two billion dollars was allocated by the Ministry of Finance and the ministry...

Wall Street stocks rallied Friday following signs of moderating inflation, finishing with weekly gains for the first time in about two months.

Iran's Revolutionary Guards seized two Greek oil tankers in the Gulf Friday, days after Athens confirmed it would deliver to Washington the Iranian oil it had seized from a Russian tanker. "The IRGC naval forces today (Friday) seized two Greek oil tankers in the Persian Gulf due to violations that...

The minister added that the UAE's exports grew around 18 percent YoY to AED91 billion by end of Q1-22, noting that exports have doubled over the past five years.

The new ranking of the UAE capital is based on a combination of criteria, including the rate of traffic congestion at intersections and streets at various times during the day.

The program provides big support to local, regional and international film producers to shoot their works inside Saudi Arabia.

With the entry of Cloudflare, a top-rated American content delivery network, into its rapidly expanding zone, Dubai Internet City has entrenched its position as a preferred hub for new economy companies in the region.

The UAE has decided to fund interest on home loans obtained by its nationals from banks "to ensure economic well-being and social welfare for UAE nationals. According to the new policy, housing loans shall be financed through collaboration between the Sheikh Zayed Housing Program (SZHP) and national banks.

Qatar will only let football fans with match tickets enter the Gulf state during the World Cup tournament, officials said Thursday as they announced that scores of shuttle flights would bring in thousands of fans each day from neighbouring countries. Qatar Airways chief executive Akbar Al Baker said the national...

Ajman’s Department of Finance (DoF) signed a cooperation agreement with First Abu Dhabi Bank (FAB) and Magnati to support the launch of new payment channels and services through the AjmanPay application. This agreement is in line with Ajman government’s strategy of fostering strategic partnerships between the public and private sectors,...

The Reskilling Revolution initiative, a coalition of 50 CEOs, 25 ministers and 350 organizations committed to realizing these gains for their economies, societies and organizations, marked two years of progress at the World Economic Forum Annual Meeting 2022 in Davos.

Western powers sounded the alarm Thursday over leaked plans to dramatically expand China's security and economic reach in the South Pacific, in what one regional leader called a thinly veiled effort to lock island states into "Beijing's orbit". If approved by Pacific island nations, the wide-ranging draft agreement and a...

Executive regulations governing public-private partnership will be issued soon, an official of the Finance Ministry said.

The US government deficit will fall dramatically this year to $1 trillion, down from levels not seen since World War II hit during the pandemic, the Congressional Budget Office said Thursday.The budget shortfall in the current fiscal year will shrink significantly from the prior year, when it reached nearly $2.8...

Greece will send Iranian oil from a seized Russian-flagged tanker to the United States at the request of the US judiciary, Greek port police said Wednesday, a decision that angered Tehran. Last month the Greek authorities seized the Pegas, which was said to have been heading to the Marmara terminal...

Saudi Arabia's non-oil exports surged to $7.52 billion in March 2022, according to  the General Authority for Statistics, also known as GASTAT. Non-oil exports excluding re-exports rose by 22.4 percent year-on-year. On a monthly basis, non-oil exports also grew by S3.2 billion, or 12.8 percent. Oil exports, which includes crude...

The meeting also included a discussion of a draft Executive Council decision regarding the executive regulations for the law of renting real estate.

Russia said Wednesday that it will start paying its foreign debt in rubles after the United States ended an exemption allowing Moscow to make the payments in dollars held in Russia. The US Treasury announced Tuesday it was closing the escape clause to the drastic financial sanctions imposed on Moscow...

Tehran and Moscow are seeking to expand cooperation in energy and trade, officials said Wednesday, as Russian Deputy Prime Minister Alexander Novak visited Iran. Both countries have huge oil and gas reserves but are constrained by sanctions imposed by the West that limit their ability to export their resources. Novak...

Saudi Arabia’s non-oil exports in the first quarter of 2022 reached 77.8 billion riyals ($21 billion), growing nearly 29 percent year on year. According to Saudi General Authority for Statistics, the non-oil exports, however, decreased compared to the previous quarter (Q4 2021) by SAR 4.4 billion or 5.4 percent. Overall...

More than 70 people are missing in the Mediterranean after a boat crowded with migrants headed for Europe from Libya sank off neighbouring Tunisia, the coastguard said Wednesday. The boat, which was carrying around 100 people when it put to sea, capsized off the Tunisian port of Sfax, with coastguard...

Russia's invasion of Ukraine has put financial markets under renewed stress by driving up prices and impeding growth, the European Central Bank said in a report. The war has "increased financial stability risks through its impact on virtually all aspects of economic activity", ECB vice-president Luis de Guindos said in...