RIYADH, SAUDI ARABIA - The  Kingdom of Saudi Arabia was ranked 16 in annual container throughput by the 2023 edition of the Lloyd’s List One Hundred Ports, steadily improving on the 24th position it occupied last year. The Minister of Transport and Logistics Services and Chairman of the Saudi Posts...

GENEVA, SWITZERLAND - The extreme heat in the northern hemisphere is putting an increasing strain on healthcare systems, hitting those least able to cope the hardest, the World Health Organization said on Wednesday. The WHO said the heat often worsens pre-existing conditions, saying it was particularly concerned about those with cardiovascular...

DUBAI, UAE – The city has registered a strong year-on-year growth of 44 percent in business event bid wins in the first half of 2023. The outstanding growth in the number of global events being hosted by the city contributes further to its economic growth in line with the goals...

Record heat is forecast around the world from the United States, where tens of millions are battling dangerously high temperatures, to Europe and Japan, in the latest example of the threat from global warming. The heatwaves come after EU's climate monitoring service said the world saw its hottest June on...

IDB will fund renewable projects by joining ETAF platform.

Nearly 140 countries have taken a first step towards reaching agreement on a fairer distribution of tax revenues from multinational firms, the Organization for Economic Co-operation and Development said. Some 138 countries, which account for over 90 percent of global economic output, agreed on a first draft of a convention...

ABU DHABI, UAE - The UAE ranked seventh in the world in terms of per capita national income, according to the latest data released by the World Bank. The per capita income in the UAE, based on purchasing power parity (PPP) in current international dollars, rose to Int$87,729 in July...

ROME, ITALY - World cereal production is predicted to hit a record high in 2023-24, according to the latest Cereal Supply and Demand Brief, released by the Food and Agriculture Organization (FAO) on Saturday. FAO raised its 2023 global cereal production forecast to 2 819 million tonnes, indicating a 1.1...

PARIS, FRANCE - Greenhouse gas emissions from agriculture are expected to increase by 7.5 percent in the next decade, said a report by the Food and Agriculture Organization (FAO) and the Organization for Economic Co-operation and Development (OECD). The projected greenhouse gas emissions are just less than half the projected...

Asian stocks tumbled again after another round of strong US data reinforced expectations the Federal Reserve will resume its interest rate hikes as officials wrestle with stubbornly high inflation. After a strong start to the week fueled by signs that US prices were stabilizing, regional markets have taken a turn...

LONDON, UK - Shell's chief executive told the BBC on Thursday that cutting gas and oil output would be "irresponsible" because it could further lift energy bills and worsen the cost-of-living crisis. Wael Sawan was asked about recent comments from UN head Antonio Guterres, who had declared it was "moral and...

MENA is an important market for Verition.

Dubai, UAE - The International Federation for Falconry Sports and Racing (IFFSR) announced it will host the inaugural editions of the IFFSR Cup for international teams and the International Forum for Falconry Sports and Racing in December 2023. Second Deputy Ruler of Dubai and Chairman of the Federation Sheikh Ahmed...

DIFC provides a platform for AB to expand its wings.

Egypt and Turkey said they had appointed ambassadors to each others' countries for the first time in a decade, in the latest sign of warming ties. The two foreign ministries said the move "aims at the re-normalization of relations between the two countries and reflects the mutual will to develop...

In Beijing, Yellen will discuss how the United States views its economic relationship with China, a senior Treasury official said Sunday. She will meet with senior Chinese officials and leading US firms, the American spokesperson said without providing specifics.

DUBAI, UAE- Dubai Customs has assisted Japanese customs authorities in intercepting a significant quantity of illicit drugs. Up to 700 kilograms of "methamphetamine" powder, valued at approximately US$310 million, were concealed within a cargo ship originating from an Asian country and bound for Japan. The successful operation led to the...

The Saudi Arabia-based Organization of Islamic Cooperation called for collective measures to avoid future Quran burnings, days after a copy was torched outside a Stockholm mosque. OIC met at its Jeddah headquarters to respond to Wednesday's incident in which an Iraqi citizen living in Sweden stomped on the holy book...

AMMAN, JORDAN  -  The pharmaceutical and medical supplies sector of Jordan has experienced an impressive 29.7 percent growth in exports during the first five months of this year compared to the corresponding period last year. Fadi Al-Atrash, the sector's representative at the Jordan Chamber of Industry, revealed that exports from...

Geneva, Switzerland - United Nations Conference on Trade and Development (UNCTAD) said the COVID-19 pandemic, Ukraine crisis and the climate crises are having a devastating effect on progress towards the SDGs. The UNCTAD released the fifth edition of its annual SDG Pulse, a global reference for tracking progress towards achieving...

NEW DELHI, INDIA - UAE Minister of Economy and Head of the Emirates Tourism Council Abdullah bin Touq Al Marri met separately with the ministers of India, UK, Indonesia and Japan on the G20 Tourism Ministers' Meeting in Goa. Bin Touq met with Sandiaga Uno, Minister of Tourism and Creative...

ABU DHABI, UAE -  AD Ports Group, a leading facilitator of global trade, logistics, and industry, and Premier Marine Engineering Services, a UAE-based shipyard company on Sunday announced the formation of a new joint venture, SAFEEN Drydocks. AD Ports Group will own 51 percent of the joint venture and the...

Indian carrier IndiGo said it had ordered a 500 A320 airliners from European manufacturer Airbus at the Paris Air Show. With a list price of $55 billion- the actual sale prices are usually lower- the deal is the largest ever civil aviation order and a "historic" step for both firms,...

JV to develop accommodation project in Abu Dhabi island.

ABU DHABI, UAE -  Hub71, Abu Dhabi's global tech ecosystem, on Tuesday announced the winners of The Outliers Program, which gives founders worldwide the opportunity to build proof of concepts (POCs) alongside major reputable organizations. Participating startups have been recognized for their innovative solutions in various challenges set by Hub71’s...

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...

NEW YORK,  US - Minister of State Khalifa Shaheen Al Marar chaired the first signature event of the UAE’s United Nations Security Council presidency. The UAE minister stressed on strengthening cooperation between the UN and the League of Arab States to further peace, security and stability in the region. Al...

DUBAI, UAE - The World Bank raised its global growth forecast for 2023 to 2.1 percent (in June 2023) from 1.7 percent  (in January 2023), thanks to greater-than-expected flexibility in major economies. In its latest report released in June 2023, the World Bank also expected the global growth to reach...

RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) has announced the launch of Traders District to support the thousands of traders thriving in its business ecosystem. It is designed to offer traders a host of benefits, including business set-up solutions, simplified access to global supply chains, networking...

DUBAI, UAE - US special climate envoy John Kerry has met senior Emirati officials in Abu Dhabi, including the head of the United Nations' upcoming climate change conference, official media reported on Sunday. The choice of Sultan Al Jaber, chief executive of the Abu Dhabi National Oil Company (ADNOC), to head...

Iran released one Danish and two Austrian-Iranian citizens it had been holding after mediation by Oman, and they are being flown to Belgium, said the country's Prime Minister Alexander De Croo. This comes a week after Tehran freed a Belgian aid worker in exchange for an Iranian diplomat who was...

Stock markets wobbled as a deal to hike the US debt ceiling and avoid a painful default goes to a vote in Congress this week. President Joe Biden and House Speaker Kevin McCarthy hammered out an agreement that saw both sides give ground, a week before a June 5 deadline.

DUBAI, UAE - First Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance of the UAE Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum on Thursday met with Charles Meyers, President and CEO of Equinix here. During the meeting, Maktoum bin Mohammed highlighted Dubai’s keenness to strengthen...

ISMAILIA, EGYPT -  A cargo ship ran aground on Thursday in Egypt's Suez Canal before it was quickly refloated without interrupting traffic, the authority in charge of the vital waterway said. The Hong Kong-flagged Xin Hai Tong 23 bulk carrier was refloated after "a sudden malfunction of the machinery" while it...

Indonesia and Iran signed a trade agreement in Jakarta where President Joko Widodo hosted his Iranian counterpart Ebrahim Raisi. Tehran is aiming to boost its international trade. Raisi's two-day visit to Indonesia, Southeast Asia's biggest economy, comes in the shadow of fresh European Union sanctions this week on Iran's Revolutionary...

The merged firm will have a combined revenues of $3.4bn.

ABU DHABI, UAE -  Abu Dhabi Future Energy Company (Masdar) has announced that it has nearly doubled its clean energy capacity and CO2 displacement in just two years. Masdar said that it is on track to fulfill its ambition of becoming one of the world’s largest renewable energy companies by...

Alcoa is now EGA's largest third-party supplier of alumina.

PARIS, FRANCE -  Russia's oil exports rose in April to the highest level since its invasion of Ukraine, boosting revenues by US$1.7 billion despite Western sanctions, the International Energy Agency said on Tuesday. The Paris-based organization said Russian exports increased by 50,000 barrels per day to 8.3 million bpd last month, estimating...

Israeli air strikes battered Gaza and militants fired rockets again as deadly fighting resumed after a night of relative calm, despite efforts to secure a truce. A new ceasefire proposal was circulated by Egypt, which has been mediating between the two sides, after a previous bid fell through, a Palestinian...

Elon Musk has chosen top ad executive Linda Yaccarino to take the day-to-day reins of Twitter as he fights to reverse the tide at the struggling platform he bought for US$44 billion last year. Yaccarino is a highly respected advertising executive who stepped down from NBCUniversal "effectively immediately" on Friday.

DUBAI, UAE -  The UAE has topped several global labor market indices issued by international entities and institutions in a new accomplishment that reflects UAE’s pioneering global model for development. The UAE ranked first globally in the Talent Attractiveness Index as per the Global Prosperity Index 2023, issued by the...

The Bank of England lifted its key interest rate to the highest level since the 2008 financial crisis, noting inflation remained stubbornly high but that the economy would now avoid recession this year. The BoE hiked the rate by a quarter-point to 4.5 percent with UK annual inflation stuck above...

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.

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...

ABU DHABI, UAE  - The UAE has evacuated 176 people from seven countries, including media professionals, from Sudan on Saturday and brought them here by plane, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) said. The UAE continues the process of prioritizing the evacuation of the most vulnerable groups,...

Since the beginning, more than 765 million confirmed cases of Covid-19 have been reported to the WHO from around the world, including nearly seven million deaths. And Covid remains a threat. While the death rate from the disease has plunged in recent months, it still killed at least 16,000 people...

PARIS, FRANCE -  Some 258 million people needed emergency food aid last year because of conflict, economic shocks and climate disasters, a UN report said Wednesday, a sharp rise from 193 million the previous year. "More than a quarter of a billion people are now facing acute levels of hunger, and...

SHARJAH, UAE -  Over 3.8 million passengers traveled through Sharjah Airport in the first quarter of 2023, recording a 28.01 per cent increase over the same period in 2022. The airport is expected to achieve even higher growth rates by the end of 2023.   The aircraft movement for the...

Iran's parliament voted in an impeachment session to remove the industry minister amid soaring prices as the Islamic republic's economy reels under the pressure of international sanctions. Reza Fatemi Amin failed to garner enough support in a vote of confidence that saw 162 MPs vote in favor of his removal...