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...

Abu Dhabi Development Fund for Development has financed AED6.5 billion worth of development projects in Jordan.

The forum will discuss issues like land decentralization, climate crisis, youth and land-based opportunities in rural areas, and building partnerships.

Labor incomes have not yet recovered for the majority of workers. In 2021, three in five workers lived in countries where labor incomes had not returned to the level seen in Q4 2019. The gender gap in hours worked also grew during the pandemic.

The non-fungible token (NFT) craze, just over a year old, has given the world works that have sold for millions and includes collections from the "Bored Ape Yacht Club" to an image of a naked Donald Trump following his 2020 election defeat.

The accelerator programme will provided local and regional start-ups with innovative solutions and strong support system within the thriving SRTI Park ecosystem.

The use of CX capabilities, digital media, predictive analytics can help banks develop personalized Shariah-compliant services, says Dubai Islamic Bank Group CEO Dr Adnan Chilwan.

The Iran-backed Shiite Hezbollah group and its allies fell just short of the 65 seats needed to control the 128-seat parliament.

Iran, like other nearby countries, has suffered chronic dry spells and heat waves for years.

Algerian President Abdelmadjid Tebboune on Monday sacked central bank chief Rostom Fadli, in office for less than two years, the presidency announced without giving any further explanation. Tebboune "on Monday ended the functions of the Governor of the Bank of Algeria, Mr. Rostom Fadli, and appointed Mr. Salah Eddine Taleb...

Although the number of female STEM graduates is high in GCC, this couldn't translate into proportionate increase in workforce, says Christine Harb from Global Brand Council at VISA.

More countries are experimenting with CBDCs and some are beginning to bring them to market, potentially offering lessons for the rest of the world.

Hammered by a foreign exchange crisis, the country's 22 million people have been enduring acute shortages of essentials.

A delegation of 50 Iranian businessmen travelled to Oman last week, with Iran's minister for roads and urban development announcing plans for a joint shipping line and tourist flights.

Global environmental, social, and governance assets are expected to hit $41 trillion by the end of this year, and $50 trillion by 2025, Yasir Al-Rumayyan, governor of the Saudi sovereign fund said. The growth in assets is due to the fact that Public Investment Fund continues to enhance ESG integration...

"The US and Japan, together with 11 other nations will be launching" the Indo-Pacific Economic Framework for Prosperity, Biden said at a press conference.

Russia's war in Ukraine has pushed the number of forcibly displaced people around the world above 100 million for the first time ever, the United Nations said Monday. The "alarming" figure must shake the world into ending the conflicts forcing record numbers to flee their own homes, the UNHCR said...

A bid by Ukraine to join the European Union would not be finalized for "15 or 20 years," France's Europe minister said Sunday, pouring cold water on Kyiv's hopes for quick entry in the wake of Russia's invasion. "We have to be honest. If you say Ukraine is going to...

Qatar is ready for the launch of a safe and exceptional tournament, the Head of the FIFA World Cup Qatar 2022 Safety & Security Operations Committee, Brig. Ibrahim Khalil Al-Mohannadi said. Local media reports quoted Al-Mohannadi as saying the FIFA World Cup Qatar 2022 Security Last-Mile Conference, which kicked off...

Iraq's financial reserves are expected to reach $40 billion in case the current fiscal year ends without enacting a budget law, according to Mazhar Muhammad Salih, advisor to Iraq's Prime Minister Mustafa al-Kadhimi. Local media reports quoted Salih as saying that "it is not possible to pass any law by...

Iraq's Finance minister said during a Television interview, "Iraq will have a surplus of the difference in selling oil, up to 20 billion dollars," stressing that "in light of the current financial abundance, it is unlikely to resort to borrowing."

The Central Bank of Iraq has announced an increase in its capital to 5 trillion dinars ($3.42 billion) Iraqi media reports said recently that the bank decided to its capital from 3 trillion dinars to 5 trillion dinars. "This increase comes to enhance the results of its balanced policies with...

The market performed well in 2021, with average home prices and rents increasing by 9.3 percent and 8.3 percent, respectively. Last year's price growth was also the highest since January 2015.

GCC Secretary-General, Dr. Nayef Falah Mubarak Al-Hajraf, had welcomed the European High Representative for Foreign Affairs and Security Josep Borrell’s announcement of the adoption of joint working paper of the European Parliament and the European Commission

The government initiatives make the emirate a safe refuge for both inhabitants and tourists which has fuelled consumer activity. Expat-friendly laws have brighten up the prospects for growth in luxury retail sector.

Russia's Defense Minister Sergei Shoigu informed president Putin of "the end of the operation and the complete liberation of the (Azovstal) industrial complex and the city of Mariupol".

The cabinet of bankrupt Lebanon, at its final session on Friday, passed a financial recovery plan needed to secure international aid, but its implementation will depend on the fractious incoming parliament. The session came five days after Lebanon held its first election since an economic crisis, widely blamed on corruption...

Iraq's Lake Hamrin, a once-vast reservoir northeast of Baghdad that is the sole source of water for irrigation across Diyala province, has nearly dried out, a senior official said Friday. Successive years of low rainfall and a sharp reduction in the flow of water down the Sirwan River from neighbouring...

However, Hamade believes that the markets in the Gulf region are better prepared to navigate the economic headwinds given the proactive stance they have witnessed across the sectors attracting foreign direct investments, relocation of businesses, and even market sentiment.

The election took place during the ninth session of the group’s meetings hosted in Riyadh from February 14-17.

The International Energy Agency (IEA) has said that G7 economies are well placed to be first movers on driving down carbon dioxide emissions from heavy industry.

In order to tame soaring prices in the country, the Central Bank of Egypt has raised its overnight interest rates by 200 basis points.

Raford contended that people should invest in video games, as it is the only successful digital economy so far.

China on Friday announced it would cut a key interest rate as the country fights to boost its virus-hit economy and Covid-19 restrictions rip across major cities. Prolonged virus lockdowns have constricted supply chains, quelled demand and stalled manufacturing.

Tourism is deemed one of the future sectors and a key focus area in the UAE’s development vision for the next 50 years

Government sector employers are mandated to bear full contributions due from the insured in cases where he/she is accompanying a spouse for study leave

The fund will target investments in tech-enabled businesses.

"We must end fossil fuel pollution and accelerate the renewable energy transition before we incinerate our only home," Secretary-General António Guterres said.

Last year, new internal displacements from conflict surged to 14.4 million marking a 50-percent jump from 2020 and more than doubling since 2012, the report showed.

An independent United Nations expert said Wednesday that the impact of sanctions imposed by the United States on Iran was "devastating", describing them as illegal and urging they be lifted. "During our visit, we were able to identify (the) devastating humanitarian impact of sanctions," said Alena Douhan, the UN special...