Addressing fragility in cities is, therefore, not only a social imperative; it is also a crucial economic consideration. It is the precondition for investment and growth. There is also a collective-security dividend. Fragile cities can turn a regional shock into a prolonged crisis, driving poverty, displacement, disrupting markets and fuelling...
WSG has ushered in a new decade of positive impact: Hamid Al Zaabi
Dubai, UAE-- The World Governments Summit (WGS) has ushered in a new decade of positive impact, inspiring governments and societies to join the global community in its ongoing journey to shape the future, according to Hamid Al Zaabi, Director-General of the Executive Office for Anti-Money Laundering and Counter Terrorism Financing...Middle East needs strong Saudi Arabia, says kingdom’s finance minister
Dubai, UAE-- Saudi Arabia's Finance Minister Mohammed Al-Jadaan said the Middle East needs a strong Saudi Arabia to contribute and that the future outlook looked positive despite recent shocks. The minister was speaking at Davos in a session titled "Saudi Arabia: Continuing Efforts towards a More Sustainable Economy". Al-Jadaan said...UAE president and US senator discuss bilateral strategic alliance
Abu Dhabi, UAE--UAE President Sheikh Mohamed bin Zayed discussed how to deepen strategic alliance with the US in a meeting with US Senator Joni Ernst of Iowa in Abu Dhabi on Friday. During the meeting at Qasr Al Shati, the two sides exchanged views on a number of regional and...
GCC looks to deepen international ties to resolve conflicts, achieve security
Riyadh, Saudi Arabia-- The Gulf Cooperation Council (GCC) intends to deepen the process of dialogue with the international community in order to achieve achieve global security and stability, and resolve all conflicts through peaceful means. This was stated by the GCC Secretary General Jassem Mohamed Al-Budaiwi while participating in the...
Putin calls for closer ties with North Korea ‘on all fronts’: Kremlin
Moscow, Russia-- Russian President Vladimir Putin congratulated North Korean leader Kim Jong Un on Saturday on the 75 anniversary of the country's founding and called for stronger ties "on all fronts". "I am convinced that thanks to our joint efforts we will continue to strengthen... bilateral ties on all fronts", Putin...GCC chief stresses importance of strategic partnership with US
Riyadh, Saudi Arabia--GCC Secretary General Jasem Albudaiwi has emphasized the importance of Gulf-US strategic relations that support joint cooperation and coordination across all fields. In a statement today, he highlighted the outcome of the joint meeting which was held last June between the GCC foreign ministers and the USA. The...
Riyadh, Jeddah among world’s least expensive cities
Key global reports list Saudi Arabia's Riyadh and Jeddah among the world's least expensive cities for living. TRENDS finds out the cost of living in other cities of the Kingdom.
UAE banking sector is resilient, says CBUAE in its report
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) on Friday issued its Financial Stability Report for 2022. The report provides a comprehensive assessment of the stability of the UAE financial system, which remained resilient throughout 2022 despite global headwinds and the banking sector being well capitalized with...UAE convenes Security Council meet, urges UN, League of Arab States to cooperate
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...
GCC, US vow to work jointly for regional stability
The strategic partnerships between the two sides seek to focus on peace, security, stability, integration, and economic prosperity in the Middle East.Iran unveils hypersonic missile, says will boost country’s deterrence
Iran's Revolutionary Guards unveiled an intermediate range ballistic missile capable of traveling at hypersonic speeds of up to 15 times the speed of sound, state television reported. President Ebrahim Raisi hailed the new missile's hypersonic capability, saying it would boost Iran's "power of deterrence" and "bring peace and stability to...
Serious efforts needed to tackle Arab world challenges
He stresses on resolving the Palestinian issue, expressing concerns over escalating Israeli attacks and calling for a collective response to establish an independent Palestinian state. Taha also expresses the OIC's commitment to peace and stability in Yemen, Libya, and Syria, and urged increased solidarity with Somalia.
IMF lauds Jordan for monetary policy ensuring macroeconomic stability
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...
Dubai real estate sector strengthens on investors’ confidence
The present market conditions indicate that investing in real estate assets, especially in beachfront destinations, is opportune. These destinations are expected to significantly contribute to the growth of the UAE's prime real estate sector in 2023 and beyond, with no signs of this trend diminishing.UAE marks 47 years of unification of Armed Forces
The ongoing overall technological developments drive the UAE Armed Forces to increase their efforts to modernize in order to address current regional and global challenges.
US consumer inflation high, Federal Reserve under stress
US consumer inflation edged down in February but remains elevated, according to government data, adding pressure to the Federal Reserve as it balances its inflation fight with financial stability concerns. The central bank has been on an aggressive campaign to tame inflation, raising interest rates eight times since early last...
Jordan Senate, Arab Parliament speakers discuss regional issues
AMMAN, JORDAN - The Speaker of Jordan's Senate Faisal Fayez met with Arab Parliament Speaker Adel Abdulrahman Al-Asoomi and discussed the ways and means to activate parliamentary work and diplomacy to address the region's common interest. During the meeting, attended by Jordan's ambassador to Egypt Amjad Adaileh, the two sides...
Investors’ choices shape future of economy in a region
Sharjah is a gateway to the markets of the Gulf region, with a GDP of US$1.6 trillion. It provides a solid business base for investors through six free zones and 33 industrial zones with various specialisations, which are all linked to convenient land, sea and airports, he adds.
ADX adds 5 single stock futures
The move will help develop ADX derivatives market.
UAE takes part in financial group meeting in Indonesia
The UAE recently participated in the fifth International Financial Architecture (IFA) Working Group meeting within the G20 Finance Track for 2022, which was held in a hybrid format.
Kuwait renews support for peace initiative in Yemen
Kuwait has reiterated its support for a peaceful solution to the Yemeni conflict that can bring about peace and stability in the war-scarred country.Stocks slump after Fed chair vows tough inflation fight
Stock slumped on Friday after Federal Reserve boss Jerome Powell pledged to act "forcefully" against soaring inflation in a battle that will be painful for Americans. The Fed has been on a campaign to raise interest rates and Powell said at Jackson Hole that the fight against inflation is not...CBUAE’s Financial Stability Report lists steps taken to help economy
The Central Bank of the United Arab Emirates has issued its Financial Stability Report for 2021, which outlines the measures taken by the CBUAE to support the national economy during the COVID-19 pandemic and safeguard the stability of the financial system.
GCC central banks raise interest rates
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.
ECB warns of risks to financial markets from Ukraine war
Russia's invasion of Ukraine has put financial markets under renewed stress by driving up prices and impeding growth, the European Central Bank said in a report. The war has "increased financial stability risks through its impact on virtually all aspects of economic activity", ECB vice-president Luis de Guindos said in...
Saudi Arabia pledges support for Yemeni-Yemini consultations, truce
Saudi Deputy Minister of Defense Prince Khaled bin Salman bin Abdualziz reaffirmed his country’s commitment to establishing security, peace and stability in Yemen in a meeting on Monday with Yemeni Prime Minister Dr. Maeen Abdulmalik Saeed and the members of the Yemeni Cabinet. Prince Khaled highlighted that the Kingdom had...
UN chief calls on ‘all parties’ to preserve stability in Libya
UN chief Antonio Guterres called Friday on "all parties to continue to preserve stability in Libya as a top priority," after the country found itself with two competing prime ministers, raising the specter of renewed violence. He reminded "all institutions of the primary goal of holding national elections as soon...
UAE inflation rate of 2.5 percent displays economic stability: FCSC
UAE's Consumer Price Index (CPI) at the end of 2021 reached 108.62, compared to 105.97 in December 2020, which puts the inflation rate at 2.5 percent year-on-year and at 0.02 percent in December 2021 compared to November. A report from the Federal Competitiveness and Statistics Centre said the rate of...
Macron holds talks with Saudi Crown Prince
French President Emmanuel Macron met Saudi Arabia's de facto ruler in Jeddah Saturday to discuss regional stability, in particular crisis-hit Lebanon.GCC Unified Military Command’s headquarters opens in Riyadh
The opening was also attended by GCC defense ministers, and GCC Secretary General Dr. Nayef Falah Mubarak Al-Hajraf.
Saudi Arabia vows to defend Yemen’s “security and stability”
The kingdom backs efforts to reach a comprehensive political solution to end the crisis in the war-scarred country It reiterated its commitment to help the government in Yemen Saudi Arabia has said that while it endorses all efforts at reaching a political settlement to end the crisis in Yemen,...
Egypt to support stability in Libya as it prepares to hold elections
President Sisi called Libyan institutions to fulfill their national duty Egypt, Libya discussed how to strengthen cooperation and support the political process in the war-torn country Egypt has reiterated its support for the Libyan government as the latter prepares to hold elections by the end of the year expected...
