New Delhi: US secretary of state Hillary Clinton’s crack of the whip vis a vis India’s oil imports from sanction-hit Iran appears to have worked. Keen on making up the for the likely drop in the import of Iranian crude, India is now cozying up to United Arab Emirates (UAE), Iraq as well as Saudi [...]
SANA’A: Yemen’s Minister of Trade and Industry asserted that the technical barriers are of the effects that hinder the country’s attitudes towards economic integration and to enhance procession of Arab Customs Union, delaying its joining World Trade Organization as a result of conflicts among the members countries in means, ways and procedures of verification of [...]
CAIRO: Data coming from the United Arab Emirates on Wednesday has posted inflation to its highest rate in 9 months on an annual basis in April, despite an ongoing price decline in its trade and business hub Dubai. Annual consumer price growth in the $360 billion economy, the second largest among Arab countries, picked up [...]
NAIROBI: The Rwanda Revenue Authority will launch an Electronic Sales Device (ESD) to counter fraudulent transactions and tax evasion by individuals. The device is set to be launched in June and it will cost $300 and $600. Ben Kagarama, Commissioner General commented that people are undertaking practices such as falsifying invoices so as not to [...]
CAIRO: The Forum of Young Global Leaders (YGLs) of the World Economic Forum (WEF) has selected The American University in Cairo (AUC) alumnus and assistant professor Ayman Ismail, as one of two of Egypt’s most influential and inspirational figures in 2012. This recognition is granted annually by the WEF to honor the world’s most distinguished [...]
KUALA LUMPUR: Malaysia and the Philippines are looking to increase their economic relationship and announced plans to hold the first Philippines-Malaysia Investment Partnership Forum on May 29. The forum aims to boost trade and business between the two Asian countries, the Philippines Embassy in Kuala Lumpur said on Tuesday. The embassy said in a press [...]
KUALA LUMPUR: The Malaysia government is looking at the United States as a means of boosting investment to the country, Malaysia’s Ambassador to the US Datuk Othman Hashim told reporters on Tuesday. He said Kuala Lumpur was hopeful that increased business discussion between the two countries would assist in developing Malaysia’s economy in the years [...]
CAIRO: Egypt is to ink a $3.2 billion loan agreement deal with the International Monetary Fund (IMF) in early June, semi-official al-Ahram newspaper reported. The report cited the country’s Finance Minister Momtaz el-Sayed as saying the first part of the loan could be released around July 1, the beginning of the fiscal year 2012-2013. He [...]
SANA’A: Addressing the press, Yemen’s Oil Minister Hisham Sharaf said on Monday that the country had suffered big losses due to the persistent attacks on its oil and gas pipelines. At a meeting with the French foreign minister’s Middle East advisor for economic affairs, Sharaf said the losses due to the several-month shutdown of the [...]
Goa (INDIA): A solar fly killer, a floating toilet soap, a pressure cooker for an espresso maker, and a motorcycle plow. Welcome to ‘Jugaad’ or the famed rustic Indian art of innovation and ‘making do’. Rural India, where stable electricity remains a fantasy, like a democracy to say, a Saudi national, has proved to be [...]
NAIROBI: Intel Corporation has partnered with Orange Uganda with the aim of making broadband and PC’s more affordable and to propel their reach to customers by bridging the broadening gap in Internet access and broadband connectivity. John Davies, Intel Vice-President for World Ahead Program said, “providing technology access and IT skills is a cornerstone for [...]
CAIRO: Jordan’s Prime Minister Fayez al-Tarawneh said on Sunday that his government planned price rises soon for essentials to prevent a spiraling budget deficit from passing $4 billion this year and further damaging the kingdom’s economy. “There is a need for speedy measures to assure regional institutions and international donors that we are doing our [...]
CAIRO: Egypt’s state-owned MENA news agency reported on Saturday that a court ruling in Switzerland has been issued in favor of Egypt, which would allow Egypt to recover funds embezzled by former President Hosni Mubarak and his cronies. The ruling was in response to Egypt’s efforts to recover the money since the January uprising ousted [...]
KUALA LUMPUR: Malaysian Airlines announced on Monday that they believe the India market holds the key to growth potential and said it would boost flights into the country as well as between tier two cities. “We are looking at more connectivity to India and are evaluating the market here,” Malaysian Airlines’ general manager for western [...]
ABU DHABI: “Reducing the turnaround time of crediting to bank accounts, to real time, for our Filipino customers, is our aim. FLASHremit enables us to address it perfectly, taking money transfer to the next level,” said Mr. Y. Sudhir Kumar Shetty, COO – Global Operations, UAE Exchange, talking on the occasion of UAE Exchange joining [...]
NAIROBI: MCash Uganda and Housing Finance Bank (HFB) are in a joint venture that seeks to introduce a virtual Bank account scheme that enables customers to send money within Uganda. Paul Musoke, Deputy MD HFB said the account enables holders to have an e-wallet that can be accessed through the different HFB branches and M-Cash [...]
SINGAPORE: Singapore and India have recently reaffirmed their bilateral ties and pledged further collaboration in the areas of science and technology as well as education. The pledge occurred during the second joint ministerial committee meeting between the Indian Prime Minister Manmohan Singh and Singapore’s Minister of Foreign Affairs, K Shanmugam, in New Delhi, India. Singapore [...]
NAIROBI: In a joint venture with Cellulant, Kenya Airways will now be the first airline in Africa to deliver a service called “KQ Mobile” which is a mobile based technology platform that will enable its customers to conveniently access information on flight status, timetable, cargo services, ticketing and query their Msafiri Miles status. The service [...]
SANA’A: The World Bank’s present portfolio in Yemen comprises 21 projects under implementation with net commitment of US$836 million. Of this amount $489 million remains to be disbursed. Currently, the World Bank is also engaged in a discussion with government, civil society and other partners to discuss how best to support Yemen’s emerging needs and [...]
CAIRO: The International Labor Organization (ILO) on Thursday in its annual report on workers’ freedoms globally, criticized the continued absence of trade union freedoms and workers’ rights in Egypt, and subsequently listed Egypt on the black list of countries that do not respect trade union freedoms. The ILO placed Egypt on the “short-term” black list, [...]
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