The bank income in Q3 fell by 10 percent to $8.2billion.

Abu Dhabi, UAE - The Culture Summit Abu Dhabi began in the UAE capital with discussions on the impact of the pandemic on culture. Noura bint Mohammed Al Kaabi, Minister of Culture and Youth, said, “If an issue happens in Brazil or Iraq or Syria, it affects us as well,...

American Airlines third quarter revenues rose to $13.5 billion.

"As with the Covid-19 pandemic, it is once again the most vulnerable that are paying the price of world events. Combined crises are expected to throw an additional 75 to 95 million people into extreme poverty this year alone," Olivier De Schutter, the UN special rapporteur on extreme poverty and...

MENA residents' satisfaction and expectations about how services can and should be delivered have been radically altered due to the COVID-19 pandemic.

Here are the details of how GCC countries gained in past four years in terms of foreign assets held by each of the central banks of the region post-pandemic.

The UN and Oxfam have previously decried the unequal distribution of vaccines from richer Western countries to lower-income ones, particularly in Africa, putting lives at risk.

Post pandemic, startups, SMEs, and entrepreneurs must adopt a new mentality to scale their enterprises and survive, says Awfa Mustafa, CEO of Najahi Events.

The company delivered a total of 343,380 vehicles

Earnings of many Gulf banks may hit nearly pre-pandemic levels by the year end, owing to high oil prices and rising interest rates that will support their creditworthiness.

The UAE will be relaxing COVID-19 restrictions nationwide which will come into effect starting September 28. Dr. Saif Al Dhaheri, Official Spokesperson of the National Emergency Crisis and Disasters Management Authority (NCEMA) made the announcement during the UAE Government media briefing on the COVID-19 pandemic. COVID-19 daily cases announcement will...

Health remains key focus as the UAE capital leads global bid to combat the pandemic, as evidenced by its role in clinical trials for COVID-19 vaccines and therapeutic innovations.

After two years of pandemic restrictions and video addresses, the UN General Assembly is again asking leaders to come in person if they wish to speak with a sole exception made for Ukrainian President Volodymyr Zelensky. But the death of Queen Elizabeth II disrupted the summit anew. President Joe Biden...

Although people are still testing positive for Covid in the country, US President in an interview declared that pandemic in US is over.

Widespread availability of cashless payment methods and universal access to affordable internet services are major facilitators of digital transformation in the region.

The deal involves a five percent annual hike to public sector wages every year until 2025. The head of the UGTT, Noureddine Taboubi, told reporters after the deal was signed that the first hike would take effect next month. "The agreement was reached after much hard work," Taboubi said.

The 50-minute event culminated with the arrival of three sleek new sedans in different trims and, later, a fourth option, a racing vehicle called "Dark Horse" that was introduced dramatically by Ed Krenz, Ford's chief functional engineer for performance. "Its name is indicative of its design and its aspirations," Krenz...

Newly reported cases of the disease, which has killed millions since being identified in late 2019, last week fell to the lowest level since March 2020, said WHO chief Tedros Adhanom Ghebreyesus. "If we don't take this opportunity now, we run the risk of more variants, more deaths, more disruption,...

Rising oil prices, which have proved to be a windfall for governments and companies in the upstream sector, has strengthened balance sheets of the region's banking sector.

The United Nations had set a goal to eradicate all forms of modern slavery by 2030, but instead the number of people caught up in forced labor or forced marriage ballooned by 10 million between 2016 and 2021, according to a new report. The study, by the UN's agencies for...

An American recession "is a risk when the Fed is tightening monetary policy to address inflation," President Joe Biden's leader on financial, economic and tax policy told CNN, referring to the US Federal Reserve. "So it's certainly a risk that we're monitoring," Yellen added, but "we've got a good strong...

Brussels, Belgium - The number of commercial flights in August 2022 in the EU increased 25 percent compared to August 2021, Eurostat said in its report. It is still below the pre-pandemic levels, but the gap is contracting (-14 percent compared with August 2019), the report mentioned. The number of...

A strong performance is expected this winter when neighboring Qatar hosts football's World Cup. Hotel occupancy was up more than 40 percent in Covid-hit 2021, UAE prime minister and Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum said after a cabinet meeting.

Struggling to tame surging inflation in the eurozone that has seen steep increases in the price of energy in the wake of the Russian invasion of Ukraine, European Central Bank policymakers are expected to make a historically large interest rate hike at their meeting on Thursday.

Pointing to rising energy prices in Europe ahead of winter, Putin insisted Russia would supply nothing outside of existing contracts, quoting a Russian fairy tale: "Freeze, freeze, the wolf tail". Capping prices, as some Western countries are considering, "would be an absolutely stupid decision," Putin said.

The real gross domestic product (GDP) of Saudi Arabia has jumped 12.2 percent in the second quarter of 2022, exceeding the government estimate of 11.8 percent. The kingdom, the world’s top oil exporter, has richly benefited from high crude prices and a significant post-pandemic recovery.

Faced with a bleak global economic outlook, the OPEC+ countries are expected to agree a modest increase in oil production at a meeting on Monday. The 13 members of the OPEC cartel, led by Saudi Arabia, and their 10 partners, led by Russia, are meeting to adjust their quotas for...

According to consensus, the unemployment rate for August should fall somewhere around 3.5 percent when official data is released at 1230 GMT. If the estimate turns out to be true, it would be the same rate as July when unemployment first returned to its pre-pandemic levels, which had been the...

The eighth Tokyo International Conference on African Development (TICAD8) comes against the backdrop of China's rising influence, cemented on the continent by its "Belt and Road" infrastructure initiative. A "complex" international environment caused by issues including "the situation in Ukraine" surrounds the meeting in Tunisia's capital, the Japanese foreign ministry...

Prince Abdulaziz bin Salman said in an interview with Bloomberg that OPEC+ has the commitment, the flexibility, and the means within the existing mechanisms to deal with such challenges, including cutting production at any time. He said that the volatility and thin liquidity send erroneous signals to markets at times...

Post pandemic, the logistics sector is best placed to support e-commerce businesses in tapping the unlocked potential of the large and still untapped market. The Middle East, which is continuing to experience rapid growth in e-commerce, may get an additional push from the logistics sector, she adds.

High pilgrim traffic caused revenue to go up to $104.34m.

The gold and jewelry sector in Saudi Arabia has recorded a 36 percent growth in sales as the economy shows signs of recovery

The Global Business Travel Association now projects business travel will regain its 2019 level of $1.43 trillion in mid-2026, 18 months later than predicted in the group's last forecast in November. "Recovery has hit some headwinds," GBTA said in a statement that outlined a gradual improvement from a 2020 low...

Net income leapt 90% for the world's biggest oil producer, which clocked its second straight quarterly record after announcing $39.5bn for Q1.

Dubai Airports has been named the winner of a Gold Stevie Award in the Most Innovative Workplace Redesign During COVID-19 category in the seventh annual Stevie Awards for Great Employers.

A planned exit from the Netherlands towards the end of November follows Deliveroo's departure from Spain last year, although the group on Wednesday said it had gained market share in the UK and Italy.

The firm will invest $40bn by the end of the decade.

Organisations can either view recent global disruptions such as Covid-19 pandemic as a death sentence or as a chance to embrace a new and more productive era of working. Dean suggests a few measures that may help businesses weather the current storm and equip them for future success.

A rise in US stockpiles was partly responsible for a 10 percent drop in the commodity last week.

Banks in the Gulf region were already on the path towards digitization, but the pandemic became the catalyst for accelerated change. As consumers got used to superior online shopping, health, and governmental services, they have increasingly been demanding that banks follow suit with their digital processes and offerings.

In 2020 a government bailout saved airline from bankruptcy.

Sharjah Hotels occupancy rate jumped to 67 percent in H1.

After cutting production in 2020 in response to falling prices during the Covid pandemic, OPEC+ began to modestly raise it last year and has renewed the policy every month.

The company logged a net income of $379 million.

BMW said economic conditions would "remain difficult" in the second half of the year, with the war in Ukraine also disrupting supply and weighing on the industry.

The demonstrations were drained of momentum by a severe economic crisis and the coronavirus pandemic, before the monster explosion presented a stark reminder of the negligence of the country's leaders.

The USA has alleged Ebrahim Raisi was involved in mass execution of detained leftists in 1988 while he was chief prosecutor of the Tehran revolutionary court. However, Raisi has denied the allegations on two occasions -- in 2018 and 2020.

Having pledged to help especially the poor, the ultraconservative cleric now faces runaway consumer prices that have sparked protests.

UN head Antonio Guterres warned Monday that the world faced "a nuclear danger not seen since the height of the Cold War" . In January, the five permanent members of the UN Security Council -- the United States, China, Russia, Britain and France -- had pledged to prevent the further...