In its latest study on the importance of air transport to the UAE, the Montreal-based organisation said the domestic aviation industry at present supports nearly 800,000 jobs and contributes $47.4 billion to the economy, accounting for 13.3 per cent of the UAE’s GDP. However, given the ongoing prioritisation of... Read more
Bahrain’s national origin exports increased by two per cent to BD187 million during August this year compared with BD184m for the same month last year, shows a report from the Information and eGovernment Authority (iGA). The report, which encompasses data on the balance of trade, imports, exports (national origin)... Read more
A drop in the number of both Bahrainis and expatriates hired in the private and public sector has been recorded in the second quarter of this year. Latest statistics on the country’s labour market indicators show a 1.1 per cent drop in expatriate employment, and 3.6pc reduction among citizens compared... Read more
Dozens gathered in Downtown Beirut Sunday to protest Lebanon’s weakening economic and living conditions. Recent events have brought the country’s precarious economic and financial situation to the forefront of public concern. People also took to the streets last Sunday in a similar protest that gathered hundreds in Downtown. “It... Read more
The Emirate of Abu Dhabi recently priced a $10 billion multi-tranche international bond offering, demonstrating strong investor confidence in its solid credit fundamentals, a media report said. The transaction comprised three tranches: (i) $3 billion, 2.125 percent, due in 2024, which priced at 65 bps over US Treasuries; (ii)... Read more
The cash-strapped Palestinian Authority (PA) will once again accept tax revenues collected on its behalf by Israel after rejecting the money for months, Israeli and Palestinian officials said on Friday. The PA had stopped taking the money because of a dispute with Israel over stipends paid to the families... Read more
UAE-based financial services firm Finablr and Samsung Electronics America have launched a new money transfer feature in Samsung Pay, the companies have announced. The new on-app money transfer service – the first of its kind in the US – offers users cross-border payments to 47 countries with a variety... Read more
Director of the International Monetary Fund (IMF) Middle East and Central Asia Department Jihad Azour has said Arab countries need to provide more than 28 million job opportunities during the upcoming seven years. Azour said the only way for Arab countries to create job opportunities is the enhancement of... Read more
Governor of Central Bank of Iran, Abdolnaser Hemmati, said Wed. that the country is making efforts to further strengthen trade transactions via national currencies, and render SWIFT practically useless. He made the remarks on the sidelines of a cabinet meeting on Wednesday, adding that the US’ sanctions regime has... Read more
The Kingdom’s revenues from tourism have increased by 9.2  per cent during the first eight months of this year, reaching $3.9 billion (some JD2.8 billion) compared with $3.57 billion registered during the same period last year, according to preliminary data released by the Central Bank of Jordan (CBJ) on Monday. ... Read more