Business

The United Arab Emirates’ crown prince received a rare telephone call from Syrian President Bashar Assad in which they discussed strengthening relations and cooperation, Syria’s state media reported Wednesday. The call between Assad and UAE’s Crown Prince Mohammed bin Zayed came as some Arab countries are improving relations with Syria, …

A group of U.S. lawmakers said Facebook Inc FB.O cannot be trusted to manage cryptocurrency and urged the social media platform to discontinue immediately a small pilot of its cryptocurrency wallet named Novi, which was launched on Tuesday. U.S. Democratic senators Brian Schatz, Sherrod Brown, Richard Blumenthal, Elizabeth Warren and …

A forensic audit of the Lebanese central bank by Alvarez & Marsal began on Thursday, Lebanese President Michel Aoun said on Twitter, indicating fresh momentum on a condition for Lebanon to secure foreign aid amid a financial meltdown. The plan for an audit had hit a roadblock about a year …

 Lebanon’s parliament voted on Tuesday to hold legislative elections on March 27, giving Prime Minister Najib Mikati’s government only a few months to try to secure an IMF recovery plan amid a deepening economic meltdown. Lebanon’s financial crisis, which the World Bank labelled one of the deepest depressions of modern …

On her two-day trip to Saudi Arabia and Qatar, which began yesterday (Wednesday 20 October), she is looking to establish bilateral working groups with Gulf allies to deliver cleaner and more reliable infrastructure and much needed financing into developing and developed nations. Truss wants more bilateral investment partnerships to drive …

Moses moved his people into the desert.There is no mention about what he didother than wander for 40 years. *But he did much more,He was a great mathematicianand he made businesscollecting and selling saltpeter (niter),which can be used as fertilizer …but also for gun powder.Moses made a lot of money,and …

Dubai based global travel platform Welcome to the world is currently raising millions of investment in support of their substantial growth in the past year. Former Dutch Minister of Finance Jan Kees de Jager is the latest investor that jumped on board. Welcome to the World, is a new travel …

Striving to be the most sustainable World Expo in history, Expo 2020 Dubai has collaborated with Dutch company Global Sustainable Enterprise System (GSES) under efforts to measure and report the sustainability performance of key stakeholders across the event.Specifically developed by GSES for Expo 2020, the tailored software platform measures the …

Natural gas prices keep hitting new records in Europe. The drop in supplies sparked a new wave of volatility across the European gas market, where transactions hit a ceiling of more than $1500 per thousand cubic meters. Which countries will suffer the most? By Nikola MikovicIt is a well-known fact …

A group of 136 countries on Friday set a minimum global tax rate of 15 percent for big companies and sought to make it harder for them to avoid taxation in a landmark deal that US President Joe Biden said levelled the playing field. The deal aims to end a …

Lebanese Prime Minister Najib Mikati’s family wealth comes from a communications business that has been audited in the past and is legal, a statement from his office said on Tuesday in response to a giant leak of financial documents. A Lebanese news organisation, Daraj, was among international media outlets that …

King Abdullah of Jordan said on Monday (Oct 4) he had nothing to hide following leaks of financial documents that showed he used offshore accounts to buy expensive properties abroad. Earlier, a palace statement reacting to the leak of what major news outlets called a secret trove of documents about …

A massive leak of financial documents was published by several major news organizations on Sunday that allegedly tie world leaders to secret stores of wealth, including King Abdullah of Jordan, Czech Prime Minister Andrej Babis and associates of Russian President Vladimir Putin. The dump of more than 11.9 million records, …

Lebanon is gripped by an epic financial crisis made worse by the coronavirus pandemic, a year of political deadlock, and a week after its confirmation.By Mohammad Ibrahim FheiliThe new cabinet of business tycoon Najib Mikati held its first meeting Wednesday. He appointed a team who will sit across its International Monetary Fund (IMF) …

The advent of digital currencies in emerging markets could spark “cryptoization” of local economies, potentially undermining exchange and capital controls and upsetting financial stability, the International Monetary Fund said on Friday. Bitcoin and its kin have in the last year soared in price and popularity, with emerging and developing market economies …

Lebanon said Thursday it has formed a new government delegation to resume talks with the International Monetary Fund aimed at rescuing the country from an economic meltdown. The government of Prime Minister Najib Mikati said in a statement that a four-member committee had been appointed to resume talks with the …

The US Treasury Department Wednesday announced sanctions on a Hezbollah financial network based in the Arabian Peninsula, with support from Qatar. In the release, the US government noted that it designated these individuals and entities in “coordinated actions” with Qatar. Among the designations were Ali Reda Hassan al-Banai (Ali al-Banai), Ali Reda …

Prime Minister Najib Mikati will meet with the advisory firm Lazard soon to see how a financial recovery plan it drafted for Lebanon could be developed into a “more realistic” vision for getting the country out of its crisis, he said on Monday. Mikati also said Lebanon would be very …

Lebanon’s Prime Minister Najib Mikati said on Monday the financial recovery plan to be drawn up by his cabinet will include a fair distribution of losses suffered by the financial system. In an interview with local television LBCI, Mikati also said the rights of small depositors would be protected. “The …

French President Emmanuel Macron urged Beirut on Friday to implement urgent reform measures and push ahead with International Monetary Fund (IMF) talks, adding that France would continue to support Lebanon. Macron made his comments after meeting Lebanon’s Prime Minister Najib Mikati, who is on his first foreign trip after successfully …

The California State Teachers Retirement Fund (CalSTRS) voted against the appointment of the chairman of Saudi Aramco (2222.SE) as an independent director on the board of Mukesh Ambani’s Reliance Industries (RELI.NS). have decided to do. ), BloombergQuint informed of.- Advertisement – As of June 30, 2020, the US Pension Fund held …

Saudi Arabia’s sovereign wealth fund plans to announce soon its first green debt deal, with borrowing linked to sustainability, the Public Investment Fund’s governor told a virtual event. “We will be the first sovereign wealth fund in the world to announce this green issuance,” Governor Yasir al-Rumayyan told an event …

The country has a strong position in terms of ease of doing business and labor productivity. Uzbekistan took the 86th place in the new ranking of the Global Innovation Index, Spot reports referring to the press service of the Innovative Development Ministry. The rating for 2021 was released on September 20 under …

 Lebanon’s Prime Minister Najib Mikati said on Monday a resumption of talks with the International Monetary Fund was a necessity to pull the country out of its financial crisis. Mikati made his remarks after a long parliamentary session, held since noon, to debate his government’s policy proposal and give a …

Lebanese residents were forced to pay more than double for consumer goods in July compared with a year earlier as prices soared amid a partial lifting of fuel subsidies and a record plunge in the local currency. The latest data from Lebanon’s Central Administration of Statistics shows the consumer price …

Iran joined a rapidly expanding central Asian security body led by Russia and China on Friday, calling on the countries in the Shanghai Cooperation Organisation to help it form a mechanism to avert sanctions imposed by the West. The body, formed in 2001 as a talking shop for Russia, China …

Lebanon’s finance minister Youssef Khalil on Friday signed a new contract with restructuring consultancy Alvarez & Marsal (A&M) to carry out a forensic audit at the country’s central bank, the ministry said in a statement. A&M will give an initial report to the ministry within 12 weeks of its team …

Since ancient times, Uzbekistan has been in the center of Great Silk Road and has a great historical, cultural and architectural heritage. By Sher KarimovSamarkand, Bukhara, Khiva are the brands of the ancient culture of the East. The landscapes of mountains and deserts of Uzbekistan attract attention and admiration of …

The UK Office for Investment and the United Arab Emirate’s (UAE) Mubadala Investment Company are expected to sign an expansion of the Sovereign Investment Partnership (SIP) on Thursday, British PM Boris Johnson’s press office said in a statement. The deal will promote investments across Britain in life sciences, technology, energy transition and …

A seaside cafe lounge built entirely from recycled materials has become the first of its kind in Gaza. Hana Al-Ghoul, a Palestinian woman in her 30s, and a team of young entrepreneurs are the inspiration behind the eco-friendly Al-Bahar Elna (The Sea is For Us) venture. Through the cafeteria, Al-Ghoul …

The Lebanese government will resume negotiations with the International Monetary Fund while beginning reforms demanded by donors, according to a draft policy programme that aims to tackle one of the worst financial meltdowns in history. New Prime Minister Najib Mikati’s government will also resume negotiations with creditors over a restructuring …

Lebanon will sign a new contract for a forensic audit of the central bank with Alvarez & Marsal (A&M) within days, the outgoing finance minister Ghazi Wazni said on Tuesday, signalling a renewed push to deliver on a key donor demand. Wazni spoke at a ceremony handing control of the …

The Biden administration will withhold $130 million worth of military aid to Egypt until Cairo takes specific steps related to human rights, a State Department spokesperson said on Tuesday. Secretary of State Antony Blinken’s move is a break with his predecessors’ policy of overriding a congressional check on military aid …

Lebanon’s President Michel Aoun said on Monday he hoped the new cabinet’s policy programme would include a resumption of talks with the International Monetary Fund. Aoun’s statement came as the new government, formed on Friday, was meeting for the first time in the presidential palace. “We will face big difficulties …

Lebanon’s new Prime Minister Najib Mikati, who took office last week promising to revive IMF talks to unlock aid, said on Monday there was no time to lose and no easy path to tackle one of history’s worst economic meltdowns. The new government, formed after more than a year of …

The United Nations will begin on Monday to distribute cash aid to thousands of poor families in Hamas-run Gaza under a programme funded by Qatar, the U.N. Middle East envoy said. Qatar has donated hundreds of millions of dollars to Gaza since the 2014 war between the Palestinian enclave’s Islamist …

Iraqi investors and industrialists want to establish integrated industrial complexes with their Egyptian counterparts, taking a first step to enhance trade relations between the two countries. During a meeting with a delegation of the Federation of Iraqi Industries headed by its vice president Alaa Al-Agaili, Egyptian Trade and Industry Minister Nevin Gamea said both countries are working on strengthening trade …

Lebanese President Michel Aoun announced the formation of a government on Friday afternoon, ending 13 months of caretaker governance. The agreement over a Cabinet line-up headed by telecoms billionaire Najib Mikati as prime minister, came after weeks of wrangling over the distribution of government ministries between Lebanon’s various political parties. …

Egypt is still discussing some technical issues to make its domestic debt “Euroclearable”, a goal it expects to achieve within a few months but not by an earlier target of November, Finance Minister Mohamed Maait said on Wednesday. Egypt signed an agreement to create a cross-border link with Euroclear, Europe’s …

U.S. authorities are investigating whether payments by U.S. weapons maker Raytheon Technologies Corp RTX.N to a consultant for the Qatar Armed Forces may have been bribes intended for a member of the country’s ruling royal family, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. A lawsuit filed in …

Lafarge lost a bid to dismiss a charge of complicity in crimes against humanity in Syria’s conflict on Tuesday when France’s highest court said the matter should be re-examined, overturning an earlier ruling. Lafarge, now part of Switzerland-listed Holcim whose shares slid on the news to trade down 3.6%, is …

 Qatar will soon resume funding for civil servants and poor families in the Gaza Strip under a new mechanism involving the Western-backed Palestinian Authority and the United Nations, the Gulf state’s aid envoy said on Monday. Doha has underwritten Gaza rebuilding and infrastructure projects since the 2014 war between the …

As young people increasingly choose to emigrate in search of better opportunities, Serbia started facing labor shortages. Many entrepreneurs operating in the Balkan nation still refuse to pay relatively decent salaries, hoping that they will manage to hire foreign workers, mainly from Southeast Asia. By Nikola MikovicOfficially, the unemployment rate …

Lebanon is in free fall and must not become a “horror story”, a U.S. senator said during a visit to Beirut on Wednesday, voicing hope that a government would be formed this week to start addressing its destabilising financial meltdown. The comment reflected growing concern https://www.reuters.com/world/middle-east/eu-worried-lebanons-fast-deterioration-says-time-has-run-out-2021-08-26 about the situation in …