Economy & Trade

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Talks are due to take place after Egypt's upcoming elections (File/AFP)
Today
Relations with the IMF soured when Egypt suspended negotiations over a loan worth billions in 2013, but this may improve with upcoming discussions.

March 3, 2013

After 13 years of trying, Yemen is still pushing to join the World Trade Organisation
08:18 GMT

Yemen is pushing to join the World Trade Organisation, 13 years after first requesting to join the organisation which looks to oversee the liberalizing of global trade.

The US Secretary of State has said Egypt needs political consensus to help push through changes necessary an loan from the IMF
06:11 GMT

Political consensus is needed to ensure difficult economic reforms are passed so Egypt can secure a $4.8 billion loan from the IMF, according to the US' Secretary of State, John Kerry.

February 28, 2013

Egypt is to formally invite the IMF to discuss the much delayed $4.8 billion loan to the country
13:49 GMT

The government of Egypt is formally inviting the International Monetary Fund (IMF) to resume talks over a pending $4.8 billion loan agreement, Minister of Planning and International Cooperation Ashraf El-Arabi announced Thursday.

Sheikh Mohammed rings the bell at the Dubai Financial Market on Wednesday. (Image courtesy: WAM news agency)
13:15 GMT

Dubai’s Sheikh Mohammed bin Rashid al-Maktoum is determined to position the UAE in the world’s top economic ranking by hailing the country's Islamic finance credentials, according to a local report.

Up for sale? Not on your nelly! Egypt denies plans to sell or rent historic sites to ease the budget deficit
12:00 GMT

Egypt’s government has no intention of renting or selling any of the country’s monuments, the cabinet’s official spokesman stated on Wednesday.

Iran and India should increase economic ties, India's President said on Wednesday
09:04 GMT

India’s President Pranab Mukherjee has said that his country and Iran must work together to further promote trade and economic links, according to the New Indian Express on Wednesday.

During the event
07:52 GMT
(press release)

The operational excellence of the Aujan Coca-Cola Beverages Company, the leading still beverage manufacturer in the Middle East, was recognised today by the Dubai Municipality on the sidelines of Gulfood.

Egypt's budget deficit continues to rise
07:25 GMT

The Egyptian economy continues to post negative results, with the country's budget deficit increasing by almost 36 per cent, from July to January of the 2012/13 fiscal year compared to the same period the previous fiscal year.

Jordan thanked the Saudi Ambassador to the country on Wednesday for continued financial support
07:01 GMT

Jordan's finance minister thanked the Saudi Ambassador to the Kingdom on Wednesday for $200 million, used to prop up the ailing economy.

Continued unrest is costing Egypt $15 million a day, the country's Minister of Finance said on Wednesday
03:39 GMT

Egypt's Minister of Finance, Mursi Hijazi, said on Wednesday that Egypt is losing about 100 million Egyptian pounds ($15 million) per day because of insecurity and political unrest.

February 27, 2013

During the gulfood connect
12:27 GMT

Dubai Chamber of Commerce and Industry hosted Gulfood Connect networking luncheon on the sidelines of the ongoing 18th edition of the Gulfood 2013 exhibition at the Dubai International Convention and Exhibition Centre.

Corruption costs Yemen $10 billion, according to a new report
08:41 GMT

Yemen loses about $10 billion because of widespread corruption at various public offices, a recent official report has said.

Department of Economic Development
08:25 GMT

The Department of Economic Development witnessed a nine per cent increase in licenses issued in January 2013 compared to the same month of 2012 as economic activity in Dubai remained on an upward curve.

MoF announces the full launch of the e-Dirham G2 and the closure of the G1, earlier system
05:04 GMT
(press release)

The Ministry of Finance announced that as of Wednesday 27th of February, the first generation of the e-Dirham system will be suspended while all data and calculations will be transferred to the second generation system instead.

Dubai’s Expo 2020 yacht ‘True North’ at DP World Caucedo
04:58 GMT

DP World Caucedo has welcomed ”True North”, the 70-foot yacht that embarked on a circumnavigation of the globe last summer to raise awareness for the UAE’s bid to host the 2020 World Expo in Dubai.