The situation has been made worse by a crisis facing the agricultural sector, which makes up 14 percent of gross domestic product. The worst drought in four decades has been compounded in recent weeks by a snap of unusually cold weather. The government has boosted subsidies on some basic products...

There might be a global slowdown in the property market, but thanks to Russian buyers, the UAE, in contrast, has seen a stunning growth in the sector.

Inflationary pressures, meanwhile, have eased by less than expected. Continued strength in the numbers has forced the Fed to turn up the hawkish rhetoric, and the market has responded by raising the expected terminal Fed funds rate while at the same time sending bond yields and the dollar higher, he...

The Russian foreign ministry on Friday thanked Chinese efforts but said that any settlement of the conflict needed to recognise Russia's control over four Ukrainian regions. Russia claims to have annexed the regions of Donetsk, Lugansk, Zaporizhzhia and Kherson but never fully controlled them. Ukrainian President Volodymyr Zelensky said his...

Putin was speaking on the sidelines of a patriotic concert in Moscow on Thursday on the eve of the first anniversary of the start of Russia's full-scale offensive in Ukraine.

A more than eight-year-long war between Saudi-backed government forces and pro-Iran Houthi rebels has devastated Yemen, the poorest country on the Arabian Peninsula. The war has caused hundreds of thousands of deaths both directly and indirectly, and pushed the nation to the brink of famine.

New Delhi, India--German Chancellor Olaf Scholz arrived in India on Saturday seeking to deepen business ties between the world's number four and five economies and push for progress on an EU trade deal despite differences over Ukraine."We want to further strengthen our bilateral relationship with India and our cooperation on global...

Sales jumped 73 percent to 132.2 billion euros.

A senior US official said last week that the United States and its G7 allies planned to unveil "a big new package of sanctions" around the February 24 anniversary, including measures to crack down on the evasion of existing sanctions.

The UAE has maintained a neutral stance towards Russia's war in Ukraine, which is nearing its one-year anniversary. The Gulf nation has emerged as a top destination for rich Russian emigres fleeing the impact of Western sanctions.

US Secretary of State Antony Blinken arrived in Turkey to show support to the earthquake-hit country and NATO ally which has had tumultuous ties with Washington. His visit comes after a 7.8-magnitude tremor hit southeastern Turkey and northern Syria killing nearly 45,000 people but his trip had been planned before...

Washington, United States--The IMF said Friday it has reached a staff-level agreement with Ukrainian authorities that opens doors to a full-fledged loan, which would also support the country's bid to join the European Union.Ukraine was seen to have "strong" performance under a four-month program with the International Monetary Fund, meeting its...

Firm's profit rose due to gas and crude oil prices spike.

The company delivered 661 aircraft last year.

“Large numbers of boys and girls being out of school since the pandemic, failing to resuming their education as quickly as we want is a huge issue for UNICEF. We want them in a journey from learning to earning as soon as possible so that they can have their bright...

Netanyahu said earlier Sunday during a meeting of his government he wanted to "strengthen settlements", which are illegal under international law. The measures apply to Israeli Arabs as well as to Palestinians with resident status in east Jerusalem, part of the city annexed by Israel. The measures apply to Israeli...

The market for small startups and self-employed entrepreneurs will boom due to lower startup cost amidst policy reforms and more incubators and shared offices, says an expert.

IEA Executive Director Fatih Birol said the measures taken following Russia's invasion of Ukraine helped European nations whether Russia cutting off most of its gas supplies. The IEA said the meeting is expected to identify and endorse measures to improve the balance between gas supply and demand.

Revenue rose as countries boost military spending.

The company posted annual loss of $2.5 billion.

Israeli Prime Minister Benjamin Netanyahu will hold talks with French President Emmanuel Macron hoping to gain support against Iran's nuclear program. Israel's Paris embassy said the pair would discuss "the international effort to stop the Iranian nuclear program". The prime minister has also said Israel is considering sending military aid...

Speaking at the AFC Congress in Bahrain, Saudi Arabia's Sports Minister Prince Abdulaziz bin Turki Al-Faisal said he didn't see a problem with Russia shifting allegiances to Asia.

Vienna, Austria--A committee of major oil producers recommended Wednesday to maintain the cartel's current reduced output strategy, as the global economic outlook remains uncertain and the war in Ukraine drags on.The 13 members of the Organization of the Petroleum Exporting Countries (OPEC) led by Riyadh and their 10 allies led by...

The oil company's profits during Q4 stood at $12.8bn.

The two countries reaffirmed their commitment to bolstering international security and stability and to continue to work together to overcome regional and global challenges.

They have been routinely extended for six-month periods over the past eight years. The EU has imposed nine rounds of sanctions on Moscow since it launched a major cross-border offensive last year. Some eastern European nations had sought to extend the sanctions by one year this time.

Looking to develop offshore hydrocarbon sites, Libya's National Oil Corporation has signed an $8-billion deal with Italian energy company ENI. The deal is expected to be inked on Saturday at an official ceremony. The development of the offshore sites is hoped to produce 850 million cubic feet of gas per...

Iran's economy has been subject to increasing pressure with fresh sanctions imposed by Western countries over the authorities response to protests sparked by the death of Mahsa Amini.

The rhetoric has shifted from talk of a recession in the 20-nation club to "a small contraction", she said, with some major economies like Germany possibly dodging a contraction altogether.

Despite pressure on him to authorize delivery of tanks to Ukraine, German Chancellor Olaf Scholz pledged support to the war-scarred country for "as long as necessary". Germany's allies in Europe have implored the country to agree to the export of Leopard heavy tanks to help Ukraine repel Russia's invasion.

The US Inflation Reduction Act signed by President Biden last year, is the most significant climate pact since the Paris Agreement in 2015, says IEA Executive Director Fatih Birol.

Steve Hanke, an economist at Johns Hopkins University who measures inflation based on purchasing power parity and factoring in black market exchange rates, estimated Egypt's real inflation rate at 101 percent. The economy, dominated by state and military-owned enterprises, had already struggled after successive blows, from years of political unrest...

ABU DHABI, UAE - European countries will eventually resume higher imports of Russian gas, Qatar's energy minister and gas company CEO predicted on Saturday, warning that market volatility could last for years.Russian gas exports to Europe plunged after Moscow's invasion of Ukraine but Saad Sherida al-Kaabi, head of QatarEnergy, said...

"There's no doubt that our 53rd annual meeting in Davos will happen against the most complex geopolitical and geoeconomic backdrop in decades. So much is at stake," said Borge Brende, a former Norwegian foreign minister who is now president of the meeting.

Brent crude rose 50 cents, or 0.6%, to $83.17 per barrel by 0135 GMT, while US West Texas Intermediate crude also rose 50 cents, or 0.7%, to $77.91 per barrel.

The year 2022 witnessed several deals involving Gulf nations and leading natural gas consumer countries that seek to secure their LNG supplies in both near and distant future.

Most of Turkey's demands have involved Sweden because of its more robust ties with the Kurdish diaspora.

Russian President Vladimir Putin had unilaterally ordered his forces to pause attacks for 36 hours for the Orthodox Christmas.

Abu Dhabi, UAE- The UAE has dispatched a second consignment of household generators for the Ukrainian civilians affected by the ongoing war with Russia.In December, the UAE announced that it's sending 2,500 household generators to civilians affected by the ongoing crisis in Ukraine that has disrupted energy infrastructure and caused...

Food prices soared to a monthly record high in March after Russia invaded agricultural powerhouse Ukraine, a major supplier of wheat and cooking oil to the world. A Russian naval blockade that prevented Ukrainian grain exports was lifted following a deal in July that was brokered by Turkey and the...

Erdogan's call for a ceasefire followed a proposal earlier Thursday by Russia's spiritual leader Patriarch Kirill for an Orthodox Christmas truce this week.

The setback comes despite a record 4.7 percent drop in energy consumption last year, partly in response to soaring fuel prices because of the war in Ukraine. But the energy saving gains were wiped out by the government's decision to burn more coal and oil to make up for the...

Washington, United States--Two World Bank entities provided a record $75 billion in financing last year, said a letter by its president, as developing countries faced crises like climate change and Russia's invasion of Ukraine.The aid comes as countries emerging from the Covid-19 pandemic were hit by fallout from war in Ukraine...

Speculations are rife that the decision by Tehran could have been taken in retaliation to India's suspension of the import of fruits like kiwis and peaches from Iran.

A mild winter has enabled countries to tap less gas from stocks that were built up in anticipation of cuts in supplies from Russia, which was Europe's main supplier before the war.

Footage from the war-themed Arma 3 video game has been used repeatedly in recent months in fake videos about the Russian offensive in Ukraine.

The price ceiling of $60 per barrel agreed by the European Union, G7 and Australia came into force in early December and seeks to restrict Russia's revenue.

After repeated denials about its drones being used by Russia against Ukraine in the conflict, Iran's top general has said that Western claims show the 'effectiveness' of Tehran's unmanned aerial vehicles. Ukraine and its Western allies have accused Russia of using Iranian-made drones to carry out attacks.

"At the core of it all is the policy of our geopolitical opponents aiming to tear apart Russia, the historical Russia," Putin said. "They have always tried to 'divide and conquer'... Our goal is something else -- to unite the Russian people," he said.

The $1.7 trillion blueprint passed by senators on Thursday was rubber-stamped by the House of Representatives just hours ahead of a midnight deadline to keep the federal government open -- although a damaging holiday season shutdown was never a serious threat. "This bill is further proof that Republicans and Democrats...