Dubai ports giant DP World and Britain’s development finance agency CDC Group on Tuesday said they planned to jointly invest up to $1.72 billion in logistics infrastructure in Africa over the next several years, starting with modernizing three ports. [Read story...]

The International Monetary Fund’s executive board on Monday expressed its full confidence in Managing Director Kristalina Georgieva after reviewing allegations that she pressured World Bank staff to alter data to favor China. But Treasury Secretary [Read story...]

The biggest challenge in decarbonizing the liquified natural gas (LNG) industry is accurately measuring carbon emissions, one expert told Al Arabiya.Countries around the world have increasingly turned to LNG as an energy source as world leaders seek [Read story...]

Abu Dhabi’s Supreme Council for Financial and Economic Affairs on Tuesday launched a $1.4 billion (Dh. 5 billion) IPO fund to strengthen Abu Dhabi Securities Exchange (ADX) as a leading stock market, according to the emirate’s media office.The Ab [Read story...]

Arabian Contracting Services Company (AlArabia) has received numerous requests, including from government agencies, for it to apply the same business model it uses in Saudi Arabia to other markets in the region, the company’s CEO Mohamed Al-Khereij [Read story...]

Indian automaker Tata Motors has raised about $1 billion from private equity firm TPG’s Rise Climate Fund and Abu Dhabi state holding company ADQ to expand its electric vehicle business, the company said on Tuesday.Tata Motors will form a separate [Read story...]

Saudi Arabia will require foreign firms working in the energy sector, including petrochemicals and water desalination, to boost local input to at least 70 percent in order to secure government contracts, three sources familiar with the matter said. E [Read story...]

Persistent supply chain disruptions and pricing pressures are constraining the global economy’s recovery from the COVID-19 pandemic, the International Monetary Fund said on Tuesday as it cut growth outlooks for the United States and other major ind [Read story...]

UAE Vice President, Prime Minister and Ruler of Dubai, Sheikh Mohammed bin Rashid chaired a cabinet session on Tuesday where he announced the federal budget for the next four years was set at 290 billion dirhams ($79 billion).The country approved a t [Read story...]

An Australian company plans to invest $3 billion in Saudi Arabia in a bet on the metals used in batteries for electric vehicles.EV Metals Group Plc’s spending will be on building plants to process minerals including lithium and nickel, and later ex [Read story...]

Volkswagen is considering cutting up to 30,000 jobs to cut costs and improve competitiveness with players such as Tesla, German daily Handelsblatt reported on Wednesday. It cited a presentation made by Volkswagen CEO Herbert Diess to the supervisory [Read story...]

The total value of real estate sales transactions in Dubai during the third quarter of the year is the best recorded in the Emirate’s history, according to a property advisory firm. The volume of deals made during the quarter was the highest since [Read story...]

The governance of the world economy needs to be overhauled to ensure it can withstand future health and economic shocks, as well as challenges posed by climate change and the rise of China, advisors to the Group of Seven rich nations said. For all th [Read story...]

The Lebanese pound sold for more than 20,000 to the dollar on Wednesday, losing almost all the value it regained following the announcement of a new government last month.The pound, officially pegged at 1,500 to the greenback since 1997, has lost mor [Read story...]

The White House said on Wednesday it has helped broker an agreement for the Port of Los Angeles to become a 24-hour, seven-days-a-week operation, part of an effort to relieve supply chain bottlenecks and move stranded container ships that are driving [Read story...]

There is no end in sight to the shortage of shipping containers, port congestion and sky rocketing freight rates that have rattled global trade, the chairman of Dubai ports giant DP World said on Wednesday.The bottlenecks have been caused by a combin [Read story...]

The United Arab Emirates federal government will be in the market next year for more dollar bond issuances and is working on plans to issue local currency debt, a finance ministry official said on Wednesday. The UAE made its debt capital markets debu [Read story...]

Etihad Airways said on Wednesday it has raised $1.2 billion with a loan linked to environmental, social and governance (ESG) targets in global aviation. The airline said this was the first sustainability-linked loan in global aviation tied to ESG tar [Read story...]

Saudi Arabia wants its economic output to reach 6.4 trillion riyals ($1.71 trillion), Saudi state TV cited Investment Minister Khalid al-Falih as saying on Wednesday.For the latest headlines, follow our Google News channel online or via the app.The m [Read story...]

The Saudi Export-Import Bank (Saudi EXIM Bank) has announced that it has officially joined the Berne Union, the leading association of the global export credit and investment insurance industry.The Bank’s membership in the union represents a major [Read story...]

The United States has overtaken China as the biggest miner of bitcoin following Beijing’s crackdown on the method used to unearth the world’s major cryptocurrency, a study showed on Wednesday.Figures released by the University of Cambridge showed [Read story...]

As the shipping industry goes through an unprecedented situation that started in the beginning of the COVID-19 pandemic, things will get worse before they get better, Vice President of global ecommerce at DHL, Nabil Malouli, told Al Arabiya in an int [Read story...]

The global chip shortage could be creeping its way to Apple’s newest iPhone 13 smartphones, but analysts think that the technology giant can weather the impact by making up for any lost holiday sales with a stronger showing next year. On Tuesday, B [Read story...]

The global oil market is at risk of the sort of volatility the gas market is currently witnessing unless proper investment is made, the United Arab Emirates’ energy minister Suhail al-Mazrouei told a forum on Thursday.For the latest headlines, foll [Read story...]