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MENA region is leading the on-demand talent revolution: report
Agile work models and diverse skill demands propel MENA's freelance economy, empowering businesses to thrive amid modernization and digital transformation.
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Sri Lanka appeals Russia for fuel and resumption of tourist flights
Sri Lanka is facing its worst economic downturn since it gained independence from Britain in 1948. -
Britain’s new finance minister Nadhim Zahawi inherits a cost-of-living crisis
Britain's new finance minister, Iraqi-born Nadhim Zahawi, has inherited a cost-of-living crisis that risks pushing the UK economy into recession. The former education minister was parachuted into the Treasury late Tuesday after predecessor Rishi Sunak's shock resignation over the culture of scandal plaguing Prime Minister Boris Johnson. Johnson also lost... -
IMF authorities in Tunisia to discuss bailout package
An IMF team said in March that the country faced "major structural challenges", with low growth and investment, along with high unemployment and gaping inequality. -
Recession fears drag down European, Asian stocks
Asian and European stock markets nursed losses Wednesday on resurgent fears that sharp interest rate hikes aimed at tackling runaway inflation could spark recession. -
Saudi Arabia and Italy to explore investment opportunities
Saudi Arabia’s Ministry of Investment will host a high-level Italian business delegation on Monday to explore mutually beneficial investment opportunities. The Italian delegation would be led by Italian Minister for Foreign Affairs and International Cooperation Luigi Di Maio. The forum will focus on finance, infrastructure and mobility, tourism and culture,... -
Saudi Arabia and Italy to deepen investment ties
Saudi Arabia and Italy will jointly explore investment opportunities in sectors as wide as finance, infrastructure and mobility, tourism and culture, and renewable energy. -
Gulf countries take first steps to bank on metaverse
Payment on metaverse will take place through cryptocurrencies. NFTs and virtual goods will become popular once metaverse becomes mainstream. Therefore, it is curcial for the metaverse that NFTs and virtual property be implemented. Additionally, banks will need to accept cryptocurrency as a form of payment for these products. -
QFB funding Qatari consortium to buy 11% stake in Ennismore Group
QFB will finance the purchasing consortiums investment vehicle by providing 20 million Euro. -
Credit businesses need to increase access to finance: EDB CEO
Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank (EDB), has called on the local and regional banking community to increase access to corporate finance and accelerate the UAE’s economic recovery. Speaking on the opening day of Bonds, Loans & Sukuk Middle East 2022, which took place at... -
UAE looks to boost economic partnership with Egypt, Jordan
The UAE wants to boost cooperation with Egypt and Jordan in the financial sector in order to achieve sustainable growth in the region, according to Khaled Mohamed Balama, the Governor of the CBUAE. -
Financial inclusion enables access to health, education: Study
The study stresses the need for digitally delivered financial inclusion; and for using this as a platform to distribute health and education services to the masses. -
OIFL to pay GMTN interest
The Ooredoo subsidiary said it will pay $9.3 million on June 22. -
Saudi personal finance market posts 4.4% jump to $18.96bn
Saudi Arabia's finance companies have provided a whopping $18.96 billion in personal finance loans to the kingdom's citizens during the first three months of the current year, posting a 4.4 percent jump over the previous quarter. -
GCC equities stay steady this week
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. -
Iraq allocates $2bn for Baghdad Metro project
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... -
Agreement signed for new payment channels and services on AjmanPay app
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,... -
‘Central bank digital currencies can transform financial system’
More countries are experimenting with CBDCs and some are beginning to bring them to market, potentially offering lessons for the rest of the world. -
IMF and Pakistan to discuss release of funds as economy falters
Pakistani Prime Minister Shehbaz Sharif, who took power with a coalition that removed Khan in a no-confidence vote last month, has vowed to jumpstart the moribund economy -
UAE stocks shed gains as most GCC markets remain shut
In a week truncated by the Eid holidays across the Middle East, stocks on the UAE exchanges shed gains, while there was no trading in Saudi Arabia because of Eid al-Fitr. -
UAE: Where sustainable shopping can be a way of life
If there is one country in the GCC where the idea of sustainable shopping can take off, it is the UAE. Yet, there is a lot for it to do in order to make the concept work. -
Saudi real estate rides high on positive sentiment
Saudi Arabia's real estate sector continues to show promising signs, with increasing tourist numbers, consumers returning to retail stores, and more demand for office space. -
Physical security adds to digital transformation
Cybercrime has risen to the forefront of physical security concerns. And big firms are acutely aware of the problem, says Ephrem Tesfai from Genetec tells TRENDS. -
GCC stock exchanges witness a mixed week
The main Saudi index had a variable week, the Abu Dhabi exchange suffered a slight decline, while, the main index in Dubai closed unchanged. -
UAE and KSA stock markets remain flat this week
Against the backdrop of mounting concerns about the supply of crude oil, the stock markets in Saudi Arabia and the UAE remained subdued this week. -
Al Seer Marine signs VLGC deal
Al Seer Marine and BGN International sign the $134 million financial transaction. -
Gross bank assets up 0.8% to AED3,321.5bn at Dec 2021 end: CBUAE
The UAE Central Bank announced that the money supply aggregate M1 increased to AED 701.9 billion at the end of December 2021. -
KSA converts its deposit with Central Bank of Mauritania into soft loan
The move comes as an extension of the Kingdom’s continuous support for the people and government of the Islamic Republic of Mauritania. -
GCC exchanges recoup their losses
From the UAE to Saudi Arabia, the main indexes made up for their losses as the week came to a close. -
S&P degrades Russia’s forex payments rating to ‘selective default’
Credit rating agency S&P Global Ratings on Saturday downgraded Russia's foreign currency payments rating to "selective default" after Moscow paid a dollar-denominated debt in rubles this week. -
DIFC launches ‘Studio Launchpad’ focused on ubiquitous finance
Dubai International Financial Centre (DIFC) has announced the launch of Studio Launchpad, saying it is the world’s first venture studio platform exclusively focused on ubiquitous finance and digital asset technologies. DIFC said the Launchpad is a key part of it’s efforts to achieve the goals of its 2030 strategy by... -
Saudi Finance Ministry forecasts kingdom’s GDP to grow by 7.4%
The Saudi Finance Ministry has forecast the kingdom's real gross domestic product to grow by 7.4 percent. -
Dubai Financial Services Authority inks MoU with Central Bank of Mauritius
The MoU places an emphasis on technologies pertinent to financial services, regulation and supervision. -
Metaverse set to transform banking in GCC
Regional players eye big share as Metaverse is expected to become a US$800 billion market. Some analysts believe it will hit $30 trillion by 2030. -
New UAE app predicts which cheque will bounce
ChequeScore is an app released by the UAE government-owned Al Etihad Credit Bureau, and can predict the possibility of a cheque bouncing. -
Al Rajhi Bank to provide digital guarantee service in Saudi Arabia
Al Rajhi Bank of Saudi Arabia will start providing a digital guarantee service through the electronic financial services platform called Etimad. -
NDMC of Saudi Arabia closes $2.75bn worth March sukuk
Saudi Arabia’s National Debt Management Center has closed the March 2022 issuance of Saudi riyal-denominated sukuk, valued at SR10.3 billion ($2.75 billion). -
Fed set to raise interest rates to rein in inflation
The Federal Reserve will have to walk a tightrope to ensure its efforts don't derail the recovery from the Covid-19 pandemic. -
Weekly loss for UAE markets, amid contrast for TASI
Oil prices rose by more than 20 percent this week, due to ongoing concerns about supply disruptions and Russian output. -
What would be the impact of a US “digital dollar”?
It would still be a dollar issued by the US Federal Reserve central bank, like all US bills and coins used now, but in a digital form. -
Moody’s depicts a bleak outlook for sukuks in 2022
Moody’s has depicted a bleak outlook for sukuks in the current year because of a spike in oil prices and lower financing needs in the GCC. -
Sharjah Entrepreneurship Foundation discusses SMEs funding requests
The Project Finance Committee of the Sharjah Entrepreneurship Foundation (Ruwad) has approved AED300,000 finance for a project that will work in the field of health fitness services by providing an integrated environment with advanced specifications for exercise and sports. Ruwad said the approval was granted at the meeting, the second... -
High oil prices lift up Saudi and UAE indices
Thanks to a spike in crude oil prices pushed beyond $100 by the Russian-Ukraine conflict, the stock markets of Saudi Arabia and the UAE posted gains in February. -
Malaa Technologies to set up a bank in KSA
Malaa Technologies will launch its banking operations in Saudi Arabia after it obtained an approval from the kingdom’s central bank. -
How GCC nations can tame rising inflation?
Investing in inflation-protected bonds and gold may provide some hedge against consumer price rise. Putting money into the real estate sector is also a safe bet, believe some regional experts. -
Sanctions seek to cripple Russian economy as Ukraine invasion continues
The sanctions came as the Russian military stepped up its bloody, multi-pronged assault against Kyiv and other Ukrainian cities. -
Egypt sets up $50m venture capital fund for startups
The World Bank and MSMEDA is eager to review and develop the needs of startups. -
SWIFT: The Russia sanctions threat for Ukraine invasion
Ukrainian President Volodymyr Zelensky called on world powers on Thursday to cut Russia off from SWIFT, after Russian forces invaded his country on Wednesday. -
With Spanish funds, Lebanon plans to revive railway out of service since ’70s
Lebanon's transport minister has said that Spain will finance a plan to revive the railway network that has been out of service since the start of the 1975-1990 civil war. A deal for a "comprehensive master plan for the 407 kilometer-long (252 miles) railway" is expected next month, Public Works... -
Etihad Rail and FAB sign pact
The bank will arrange finances worth $541m for passenger transport. -
Financial corruption hinders Gulf economic model
Beside Covid-19 pandemic, many countries in the region face war and conflicts. A robust economic system necessitates an effective strategy to combat corruption. If GCC countries wishes to be prosperous, there must be systems in place to fight corruption and ensure that the integrity of the state is maintained.