Abu Dhabi, UAE--The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of mobile banking applications, online banking and overall customer experience, according to the 4th Quarter Report of 2023 issued by the Central Bank of the UAE (CBUAE) on the Monetary, Banking...

Sao Paulo, Brazil-- The UAE has affirmed that it collaborates with the BRICS nations in order to establish sustainable development policies, effective financing solutions and an advanced digital infrastructure. This was stated by Mohamed Hadi Al Hussaini, UAE's Minister of State for Financial Affairs at the first BRICS finance ministers...

SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss points to be raised on the policy of Sharjah Commerce and Tourism Development Authority (SCTDA), during the next session. A number of key issues related to stimulating economic growth and...

EU foreign policy chief Josep Borrell said the situation in the Israel-occupied West Bank posed a major obstacle to finding a long-term solution for peace between Israel and the Palestinians. "The West Bank is the real obstacle for the two-state solution," Borrell said at the Munich Security Conference.

Abu Dhabi, UAE-- The UAE President Sheikh Mohamed bin Zayed Al Nahyan has issued a law, as the ruler of Abu Dhabi, establishing the Artificial Intelligence and Advanced Technology Council (AIATC) for developing and implementing policies and strategies related to research, infrastructure and investments in artificial intelligence and advanced technology...

The UAE's central bank has kept its Base Rate for the Overnight Deposit Facility (ODF) unchanged at 5.40 percent. It is closely tied to the US Federal Reserve's Interest on Reserve Balances (IORB), reflecting the general stance of the CBUAE's monetary policy. Qatar Central Bank too has maintained its current...

Vienna, Austria--The UAE’s economy remains robust, with constant contributions from the non-oil sector, especially from tourism, leisure, and real estate, according to the OPEC’s Monthly Oil Market Report (MOMR) for October 2023. MOMR noted the UAE’s tourism sector, which accounts for more than 16% of the country’s GDP, continued to...

The insurance policy will protect the risk of non-payment.

New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement for India’s foreign and trade policy,” India's Minister of State for External Affairs, Dr. Rajkumar Ranjan Singh, told Lok Sabha, the lower House of India’s Parliament yesterday. He was answering...

NEW YORK, US – In the last three years, poverty rates in low-and lower-middle-income countries have surged, with the number of additional individuals living on less than $3.65-a-day reaching 165 million by 2023, said a United Nations Development Program (UNDP) in a new policy brief. According to the policy brief...

The new ministry will bolster the UAE's business aims and investment policies, apart from promoting its infrastructure as a global platform to attract investments in various sectors. The ministry will propose the general investment policies of the country in coordination with the relevant authorities, in addition to preparing strategies, legislation,...

Washington, United States--One year after its ruling to erase abortion rights, the conservative-dominated US Supreme Court has underscored its determination to push society sharply to the right by scrapping long-established progressive policies. In emphatic rulings this week the court banned universities from giving minorities priority in admissions -- so-called "affirmative action"...

Dubai, UAE-- The UAE has set its sights on regulating the energy providers market as a step toward developing the country's energy infrastructure and enhancing environmental sustainability. The initiative is a vital component of a new policy that aims to ramp up investments in the energy sector, encouraging innovation, and...

“The new policy will contribute to the UAE’s GDP and help achieve financial returns that amount to AED21.5 billion (US$5.85bn) by 2050, resulting from retrofitting federal buildings as part of the National Water and Energy Demand Management Program 2050, helping establish a local market of energy services and products," he...

Abu Dhabi, UAE-- Abu Dhabi has succeeded in curbing the use of plastic bags by around 95 percent since the banning of the single-use bags in June 2022. The Environment Agency – Abu Dhabi (EAD) claims it has prevented over 172 million bags from entering the environment. In 2020, EAD...

Tehran, Iran-- Terming the UAE as a reliable trade partner, Iran's Foreign Minister Hossein Amir Abdollahian said bilateral between the two countries are developing in both government and private sectors. He made the remarks during a meeting with Khalifa Shaheen Al Marar, Minister of State of the UAE on Tuesday...

Tehran, Iran-- Iran seeks economic integration and multilateralism in international relations, according to the Islamic Republic's President Ebrahim Raisi. The president made the remarks upon his arrival in Tehran, returning from Indonesia after a two-day visit there. "Our relationship with different countries is based on regionalism and neighborhood policy," he...

Amman, Jordan--The International Monetary Fund (IMF) has applauded Jordan for its tight monetary and financial policies that have ensured macroeconomic stability and access to international capital markets. The IMF made the remarks at the end of their visit to Jordan after conducting the sixth performance review of the government's economic...

There are three main pillars to this approach: transforming existing industries with advanced technologies, creating the green industries of the future, and decarbonizing hard-to-abate industries. We believe that with the right enablers—policy, technology, access to finance, and partnerships—we can achieve climate targets, she adds.

Riyadh, Saudi Arabia--Saudi Arabia and South Korea have signed two agreements on Tuesday for future mobility and roads in the latest move to boost cooperation between the two countries. The memorandums of understanding call for cooperation in the future of mobility and innovation in the transport and logistic services sectors...

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...

In the wake of the fall of Silicon Valley Bank, the US Federal Reserve should be cautious in setting interest-rate policy. Chicago Fed president Austan Goolsbee said at a conference in Chicago that caution should be exercised until "we see how much work the headwinds are doing for us in...

SHARJAH, UAE -  The Sharjah Consultative Council (SCC) approved recommendations regarding the policy of the Sharjah Institute for Heritage (SIH), during its 10th session. Ali Mehd Al Suwaidi, SCC Chairman chaired the session.The council's work began with the ratification of the minutes of the ninth session, after which the SCC...

Dubai, UAE--Ohood Al Roumi, the UAE's Minister of State for Government Development and the Future and Vice Chair of the World Government Summit (WGS), has stressed the importance of data and data protection in shaping future governments and businesses. During a session titled "The Role of Data in Government Development",...

Speaking at the Arab Fiscal Forum in Dubai, the head of the IMF Kristalina Georgieva stated that public debt in MENA is a "concern" and that governments in the region ought to create resilience by way of fiscal policies in order to protect against shocks. She also called for boosting...

ABU DHABI,  UAE - The Environment Agency - Abu Dhabi (EAD) has issued a policy on sustaining marine water quality that reviews the current situation and main challenges related to marine water in the emirate. The policy is part of EAD's efforts to maintain and sustain Abu Dhabi's marine waters...

Stock markets rose as US data showed the country grew at a slower pace in 2022 but finished the year on a stronger note. Shares in Paris, Frankfurt and London were higher in mid-afternoon trading. US gross domestic product rose at an annual rate of 2.9 percent in the fourth...

SHARJAH, UAE - The Sharjah Consultative Council (SCC) has approved its recommendations regarding the Districts and Villages Affairs Department (DVA) policy. This came during its 8th session, held at SCC's headquarters, as part of its work for the fourth regular session of the tenth legislative term. The session was chaired...

San Francisco, United States--Meta was reviewing a call by its oversight board to make its policies on adult nudity more inclusive, a spokesperson said Thursday, after the tech giant removed two Instagram posts showing transgender and non-binary people with their chests bared. Neither post violated Meta's policies on adult nudity, and...

Dubai, UAE: The United Arab Emirates ranks fourth on the list of 63 economies around the world in the Tax Policy category of the World Competitiveness Yearbook 2022 Peer Group. Published by Switzerland-based International Institute for Management Development (IMD), the World Competitiveness Yearbook assesses and ranks 63 economies around the...

Beijing, China--China's foreign exchange reserves rose to US$3.1277 trillion at the end of December 2022, up 0.33 percent from a month earlier, data from the State Administration of Foreign Exchange showed Saturday. The foreign exchange regulator attributed the increase in foreign exchange reserves to the combined impact of currency translation...

The move of not allowing users to promote their accounts on several rival social media platforms including Facebook and Instagram was the latest in a growing series of controversies generated by Musk in his short tenure at the helm of Twitter, including layoffs, reinstatement of some far-right accounts and the...

Israel's veteran ex-premier Benjamin Netanyahu secured a mandate to form a new government, paving the way for his comeback at the helm of what is expected to be the most right-wing administration in the country's history. The November 1 polls gave Netanyahu and his far-right allies a clear majority in...

The program, launched by Saudi Crown Prince and Prime Minister Mohammed bin Salman, has identified more than 800 investment opportunities worth $266bn.

UAE's Ministry of Finance (MoF) participated in the third Framework Working Group (FWG) meeting within the G20 Finance Track for 2022.

Stock markets tumbled, the pound crashed against the dollar and oil prices slumped on growing recession fears after central banks this week hiked interest rates to fight inflation. Monetary policymakers have been forced to go on the offensive, warning that short-term hits to economies are less painful than the long-term...

Indonesia has a viable path to reaching its target of net zero emissions by 2060, bringing major benefits to its citizens in the process such as more secure and affordable energy supplies, according to a new IEA report.

Abu Dhabi Department of Energy (DoE) Monday announced that the development of its hydrogen policy and regulatory framework aims to accelerate the UAE’s national hydrogen strategy and help the country attain global leadership in low-carbon and clean hydrogen.

With price surges in major economies approaching 10 percent, central banks must stay the course and continue to raise interest rates until inflation retreats, the IMF's chief economist said.

Tehran hit out Tuesday at what it called Washington's "contradictory" policies, after President Joe Biden vowed to pile pressure on Iran ahead of a visit to US allies in the Middle East. Biden has been seeking to restore the Iran nuclear deal that was abandoned by his predecessor Donald Trump.

Oil prices bounced and Wall Street stocks declined Monday, reversing the most recent trends as markets eye the end of a bruising second quarter. After positive sessions for several leading European and Asian bourses, Wall Street stocks were in the red most of the day, and finished modestly lower.

Taking a cue from US Federal Reserve's decision to hike interest rate, Saudi Arabia, the UAE, and Bahrain have raised interest rates, too, to tame soaring inflation.

The Indian rupee plunged to an all-time low against the greenback on Monday, as US monetary policy tightening roiled sentiment and foreign investors continued to dump domestic stocks. The rupee fell past its previous record low of 76.98 against the US dollar in March to 77.56 on Monday.

Turkey's official inflation rate spiraled to nearly 70 percent in April, data showed on Thursday, posing a huge challenge to President Recep Tayyip Erdogan, whose unconventional economic policies are often blamed for the economic turmoil.

The new rates are said to be effective from Thursday, March 17.

Dubai has approved a policy to limit single-use plastic bags by imposing a tariff of 25 fils on such bags from 1 July 2022. The tariff will be implemented in all stores across Dubai including, but not limited to, retail stores, textile and electronic stores, restaurants, pharmacies, online and e-commerce...

The higher revenue this year as a result of the increase in the number of tourists, which was 2.358 million.

The company said it would no longer use angora wool.

Turkish President Recep Tayyip Erdogan on Wednesday defended his "risky but correct" economic policy of low interest rates, as the central bank intervened in markets to prop up the falling lira.

Lebanon's economic meltdown presents an opportunity to improve the country's environmental policies and tackle its festering waste management crisis, says its Environment Minister.