• Dubai receives 3.67 million visitors in first two months of 2024

    Dubai, UAE--Dubai received 3.67 million overnight visitors in January-February 2024, with an increase of over 18 percent year-on-year (YoY), figures released by Dubai Department of Economy and Tourism (DET) showed. According to the DET's Tourism Performance Report for January-February 2024, Dubai recorded 1.77 million international visitors in January, and 1.9...

  • Most markets rise but traders fret interest rate hikes, Russia situation

    The more positive environment came as concerns over Russia subsided following an aborted uprising, though developments in the nuclear-armed country are being closely followed. Sentiment was also boosted by comments from Chinese Premier Li Qiang, who said the government would roll out fresh measures to kickstart the nation's struggling economy...

  • Top Abu Dhabi firms to attend Europe’s asset and wealth management conference

    Abu Dhabi, UAE-- Prominent Abu Dhabi companies are taking part in Impower Fund Forum, the largest asset and wealth management conference in Europe that will see participation of more than 1,400 international players from nearly 60 countries. The companies from Abu Dhabi that will take part in the event include...

  • HNWIs’ wealth in Middle East grows despite slowdown

    Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong earnings in the oil and gas sectors.

  • AI chip giant Nvidia likely to invest in Europe

    SANTA CLARA, US -  The CEO of Nvidia said that the world's most valuable chipmaker is "extremely likely" to invest in Europe. Nvidia's Jensen Huang told reporters that expanding in Europe was a "wonderful idea." By investing money in Europe, Nvidia would join other semiconductor giants like Intel that are also...

  • ‘EU acknowledges, appreciates Qatar’s labor reforms’

    The EU also lauds the exceptional execution of FIFA 2022 in Qatar. It helped refine Qatar's reputation and correct misconceptions. The EU is commitment to strengthening relations with Islamic and Gulf Cooperation Council countries, and seeks to combat Islamophobia in Europe, Stano points out.

  • Qatar signs 27-year gas supply deal with Chinese firm

    The agreement, to supply four million tons annually to the China National Petroleum Corporation (CNPC), matches the terms of a November deal with China's Sinopec as the longest ever seen in the industry.

  • Boeing, Airbus notch up big orders

    At list prices, the Airbus deal is worth $3.3bn and Boeing's $1bn.

  • Europe world’s fastest warming continent, says EU climate report

    The report by the World Meteorological Organization and the European Union's Copernicus Climate Change Service said the continent was some 2.3 degrees Celsius hotter last year than in pre-industrial times. Crop-withering drought, record sea-surface temperatures and unprecedented glacier melt are among the consequences laid out in the report.

  • Dubai International Chamber opens Europe’s first representative office in UK

    DUBAI, UAE - Dubai International Chamber (DIC), one of the three chambers operating under Dubai Chambers, inaugurated on Friday a new international representative office in London, UK. The launch of the new office, which is DIC’s first representative office in Europe and 20th globally, marks a significant step in the...

  • Siemens to expand business

    BERLIN, GERMANY - German industrial giant Siemens said on Thursday it would build a new high-tech factory in Singapore and expand another in China as part of a two-billion-euro ($2.1 billion) investment plan to build up its manufacturing capacity. Siemens said it would invest around 200 million euros in the Singapore...

  • Vodafone merges with Hutchison

    The merger will lead to network investment of £11 billion over 10 years.

  • Drawn by green subsidies, solar cell giant expands US production

    The partnership along with German group BayWa r.e. will beef up capacity in Meyer Burger's Arizona production facility from 1.6 gigawatts to two gigawatts, and create over 500 skilled manufacturing jobs. The announcement is expected to spark anguish in Germany, which fears that the IRA could lure investments away from...

  • Kuwait urges Europe to facilitate Schengen visas for its citizens

    Kuwait-- Kuwait has urged European states to facilitate the granting of Schengen visas for Kuwaiti citizens. The call was made by Foreign Minister Sheikh Salem Abdullah Al-Jaber Al-Sabah who received at a luncheon several European ambassadors, heads of diplomatic missions and charge d'affaires serving in Kuwait. The minister called upon...

  • EU offers Tunisia more than $1bn to boost economy, reduce migrant flows

    The EU is ready to offer Tunisia a 900-million-euro package plus 150 million euros in immediate support, European Commission head Ursula von der Leyen said. Aside from trade and investment, it would help Tunisia with border management and to combat human trafficking, with support worth 100 million euros this year,...

  • 45 governments endorse doubling energy efficiency by 2030

    PARIS, FRANCE -  Forty-five governments have endorsed doubling the average global rate of energy efficiency improvements by the end of the decade to foster sustainable economic growth. This will help put the world on a secure and affordable path towards net zero emissions. "It’s hard to overstate the importance of...

  • Swiss group to enquire about Lebanon’s central bank chief in Beirut

    The delegation will meet a local judge and might seek to question individuals over the wealth of Salameh and his entourage as other European countries have done, the official added.

  • Iran’s emerging pivot to Russia and China is for strategic leverage: study

    Dubai, UAE - Iran’s pivot to Russia and China has been driven by various factors, most notably the United States' withdrawal from the 2015 Joint Comprehensive Plan of Action (JCPOA) on May 8, 2018, says a study published by Middle East Institute.  Quoting Iran’s foreign ministry statement "the world is...

  • Italian PM says making efforts for Tunisia IMF bailout

    Italian Prime Minister Giorgia Meloni said Rome backed efforts to secure an IMF bailout for Tunisia and support to tackle its growing migrant problem. She was speaking after talks in Tunis with President Kais Saied whose country is going through a dire financial crisis, political tensions. Tunisia is also a...

  • Equities sink as hardliners Republicans threaten US debt deal

    "With some hardliners in the Republican party coming out against the agreement (in a vote due Wednesday), its passage through Congress could be bumpy," warned AJ Bell investment director Russ Mould. "Weak Chinese data also contributed to a subdued market mood with Asian stocks a little sickly."

  • Iraq and Iran discuss boosting ties in transportation sector

    Baghdad, Iraq--Iraq is looking to deepen cooperation with Iran in the transport sector and facilitate the movement of pilgrims between the two countries. The issue was discussed in a meeting in Baghdad between the Iranian and Iraqi ministers focusing on the ways to expand cooperation between the two countries. The meeting...

  • Iraq plans ambitious Europe-Middle East road, rail project

    Iraq presented an ambitious plan to turn itself into a regional transportation hub by developing its road and rail infrastructure, linking Europe with the Gulf and other Middle East countries. Once completed, the US$17 billion project known as the "Route of Development" would stretch 1,200 kilometers from Turkey to the...

  • EIB lends US$3.6bn to circular economy projects

    BRUSSELS, BELGIUM - The European Investment Bank (EIB) lending to circular economy projects has consistently increased over the years, amounting to US$3.6 billion (€3.4 billion) over the past five years, with a record level of US$1.18 billion alone in 2022. The figures were released ahead of the World Circular Economy...

  • Qatari owners of Paris Saint-Germain in talks over Sampdoria investment

    Paris, France - Qatar Sports Investments, the owners of French champions Paris Saint-Germain, are in negotiations over acquiring a stake in Italian club Sampdoria, a source with knowledge of the matter told AFP on Thursday. QSI, whose president Nasser al-Khelaifi is also the president of PSG, has owned the French club...

  • Saudi Arabia’s logistics sector set to reach $15.3 bn by 2030

    Riyadh, Saudi Arabia - The logistics sector in Saudi Arabia is poised for remarkable expansion, with its market size projected to grow to SAR 57.4 billion ($15.3 billion) by 2030, according to latest data.  The surge is an outcome of the efforts made by the Ministry of Transport & Logistics...

  • European energy crisis could worsen, warns Qatar minister

    Doha, Qatar - Qatar's energy minister warned on Tuesday the "worst is yet to come" for Europe's oil and gas shortages, saying a warm winter had prevented greater difficulties in recent months. "The only thing that saved humanity and Europe this year was a warm winter, and the slowdown in the...

  • UAE discusses clean energy partnerships with Germany, Netherlands

    ABU DHABI, UAE -  A senior UAE official of the Ministry of Energy and Infrastructure (MoEI) visited Germany and the Netherlands to reinforce existing partnerships and discuss common goals, energy transition, technology deployment and potential projects. Sharif Al Olama, Under-Secretary for Energy and Petroleum Affairs MoEI visited Germany and the...

  • Gulf Air, Emirates sign deal

    The two airlines announced the start of a codeshare agreement.

  • TRENDS Poll: 36% believe GCC banks threatened by US, Europe banking crisis

    Due to the GCC's strong linkages with the global banking system, concerns have risen that the banks in the region will face the same struggles.

  • Europe, UK edge closer to signing deal on financial services

    Once it is signed by Brussels and London, it will create a framework for voluntary regulatory cooperation in the area of financial services between the EU and the UK.

  • France issues arrest warrant for Lebanese central bank chief

    A French investigating magistrate issued an international arrest warrant for Lebanon's central bank chief Riad Salameh, a source close to the case said. Salameh earlier failed to appear for questioning by French investigators who want to know how he amassed sizeable assets across Europe, his lawyer said.

  • European economy expands less than previous estimates

    On Monday, the European Commission boosted its 2023 economic growth outlook for the 20-country euro area by 0.2 points to 1.1 percent.

  • Stock markets advance on US debt, elections

    Major stock markets advanced after President Joe Biden said he was "optimistic" about finding an agreement on averting a first-ever US default. Stock markets in Europe and Asia kicked the week off with gains amid growing hopes the Democrats and Republicans will reach a deal to avert a US government...

  • Shoemakers for Nike, Adidas to slash thousands of jobs

    One of Vietnam's largest shoe manufacturers for brands such as Nike and Adidas will cut thousands of workers at the end of next month, state media said. The country is among the world's largest exporters of clothing, footwear and furniture, but has been badly affected by the cost-of-living crisis in...

  • Europe charges up car battery drive with new plants in Germany, France

    The continent has been racing to produce more electric vehicles as part of its green transition, with the clock ticking down on an EU deadline of 2035 to phase out the sale of cars using fossil fuels. A flurry of new battery plant projects are in the pipeline in Europe,...

  • Global warming raises risk of heat-related deaths among workers

    The Occupational Heat Stress conference in Qatar, which focused on climate change and how rising temperatures threaten workers' health, heard that tens of thousands of workers around the world have died from chronic kidney disease and other illnesses linked with extreme heat over recent decades.

  • Global tourism industry is on track to reach pre-pandemic levels

    MADRID, SPAIN -  The World Tourism Barometer published its second report of the year, which showed that international tourism is making a strong comeback to pre-pandemic levels. During the first quarter of 2023, twice as many people traveled internationally than in the same period of 2022, with a total of...

  • British coronation: World leaders congratulate Charles III, Camilla

    Leaders in the United States and Europe sent congratulations to Britain's King Charles III and Queen Camilla on their coronation on Saturday, while China called for "cooperation" and "peace". Charles III was crowned monarch of the United Kingdom and 14 Commonwealth realms on Saturday at Britain's first coronation for 70...

  • BMW Q1 net profit at $4.1bn  

    The firm says sales declined in Europe and China.

  • One in five cars sold this year will be an electric vehicle: IEA

    The International Energy Agency (IEA) said the rapid electrification of road transportation will have big implications for the energy industry as it will eliminate the need for five million barrels of oil per day by the end of the decade. World oil consumption averages just over 100 million barrels per day.

  • Britain blocks $69-billion Activision takeover bid by Microsoft

    The UK's Competition and Markets Authority prevented the deal "over concerns... (it) would alter the future of the fast-growing cloud gaming market, leading to reduced innovation and less choice for UK gamers over the years to come", the CMA said in a final decision on its long-running probe.

  • GSK Q1 profit dips

    Revenue dropped more than three percent to $8.74 billion.

  • EU agency calls for reduction in pesticide use after sales remain stable

    Pesticide pollution is also driving biodiversity loss across the continent, causing significant declines in insect populations and threatening the critical role they play in food production. A German study cited in the report found a 76 percent decline in flying insects in protected zones over a period of 27 years.

  • China rejects envoy’s claims on ex-Soviet countries sovereignty

    China insisted it respects the sovereignty of all ex-Soviet countries, after comments by its ambassador to France drew ire in Europe. Lithuania, Estonia and Latvia, the European Union's three Baltic countries, summoned China's envoys to account for Ambassador Lu Shaye questioning the sovereignty of former Soviet states.

  • Air pollution causes more than 1,200 deaths a year: EU agency

    The EU environmental agency said that air pollution is responsible for causing more than 1,200 premature deaths a year in under 18's across Europe and raises the risk of chronic disease later in life. It said that in spite of recent improvements, "the level of key air pollutants remain stubbornly...

  • Stc to buy assets in Europe

    It will acquire a portfolio of towers in Europe for US$1.3bn.

  • EU foreign policy chief asks European navies to patrol Taiwan Strait

    Paris, France--EU foreign policy chief Josep Borrell called on European navies to patrol the disputed Taiwan Strait, in a opinion piece in a French weekly published Sunday. Borrell's comments in the Journal Du Dimanche, echo comments he made last week when he stressed how crucial Taiwan is to Europe. Taiwan "concerns...

  • China leads in transition from petrol to EVs

    According to the China Association of Automobile Manufacturers, electric vehicles made up 25 percent of car sales in the country in 2022, a year-on-year increase of 94 percent.

  • London seeks to keep Europe fintech crown despite Brexit

    London, United Kingdom -- From digital bank Revolut to money-transfer group Wise and payments company Checkout, London is Europe's fintech champion and intends on keeping its crown. "Before Brexit, the UK was a great place" for the sector developing financial technology, Revolut's global head of government affairs, Adam Gagen, told UK...

  • Eurozone economy accelerates to 11-month high in April

    Cyrus de la Rubia, chief economist at Hamburg Commercial Bank (HCOB), said the indices for the eurozone showed "a very friendly overall picture of an economy that continues to recover" but warned "a closer look reveals that growth is very unevenly distributed". Inflation fell to 6.9 percent on an annual...

  • Asian Development Bank sells $3.5bn global benchmark bond

    48% of the bond went to central banks and official institutions.