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As concerns over demand rise, crude oil falls to a 7-month low
As the impact of COVID-19 curbs in top crude importer China and expectations of more interest rate hikes spurred fears of a global economic recession and decreased fuel consumption, oil prices dropped more than $1 on Wednesday to their…
Modi-led India to surpass Germany and Japan as 3rd largest economy by 2029
Indian economy will reach third place in the world by 2029. India will surpass Germany by 2027 and Japan most likely by 2029, according to a State Bank of India report. According to the report, the country has undergone a large structural…
Euro area industrial producer prices rise by 4 percent
In July 2022, industrial producer prices rose by 4.0 percent in the Euro area, by 3.7% in the EU, in comparison with the same month last year. This is according to the latest estimates from Eurostat, the European Union's statistical office,…
Aldar Properties acquires Spark Security for AED 125 million
Spark Security Services, a leading provider of manned guarding security services in the UAE, is being fully acquired by Aldar Properties in order to scale up its property management and integrated facilities management platform. Aldar's…
Abdullah bin Zayed chairs the UAE-India Joint Committee
The UAE-India Joint Committee convened at the Ministry of Foreign Affairs and International Cooperation (MoFAIC) headquarters in Abu Dhabi on Thursday, with Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International…
GDP of India increased by 13.5 percent in the first quarter of FY 2022
The Gross Domestic Product (GDP) of India under the wise guidance of Prime Minister Narendra Modi for the April-June quarter of the current financial year grew at 13.5 percent. Agricultural, Forestry & Fishing sector growth in the first…
Bank ABC wins The Banker Transaction Banking Awards 2022 for the Middle East
MENA Newswire: Bank ABC, MENA’s leading international bank, has won The Banker Transaction Banking Awards 2022, for Middle East by the Financial Times. The Banker’s highly coveted awards are an industry benchmark for banking excellence,…
In August, the German inflation rate increased again to 7.9 percent
The inflation rate in Germany rose again in August after falling for two consecutive months in a row, according to a report by the German press agency (dpa). In its first estimate, the German Federal Statistical Office (Destatis) has come…
Zohr gas field production reaches 2.7 billion cubic meters a day in Egypt
During Fiscal Year 2021-2022, the Ministry of Petroleum and Mineral Resources announced that the Zohr gas field recorded its highest production rate since the start of production began in 2017. As of Monday, the ministry reported that…
Modi: Non-fossil fuels to produce 50 percent of Indian energy by 2030
Indian Prime Minister Narendra Modi said he plans for half of India's energy production to come from non-fossil fuels by 2030, and to be Net Zero by 2070. According to Modi, a silent revolution is taking place in India, as the number of…