Pakistan hopes to get $1bn debt relief from G-20

Islamabad: Pakistan is hoping to get around $1 billion relief from G-20, the economic affairs ministry said. It will include $785 million worth of pause on principal loan repayments and the remaining on account of interest repayments. The G-20 finance ministers and central bank governors in a joint communiquĂ© recently announced a final 6-month extension […]

GCC to lead Middle East’s post-COVID economic rebound: IMF

Dubai: Oil exporting countries in the Middle East, especially the GCC will lead the post-COVID economic rebound in the region according to the International Monetary Fund (IMF). The latest Regional Economic Outlook (REO) from the IMF said the available real GDP data in the region point to a strong rebound from the third quarter of […]

Egypt will release ship that blocked Suez Canal once compensation deal reached

Cairo: Egypt will release the giant container ship that had blocked the Suez Canal for nearly a week once a deal is reached on compensation for related losses, the head of the canal’s authority said. “The ship is ready,” Osama Rabie said in an interview on Egyptian television. Once “we agree on compensation, the ship […]

The Dubai company digitally transforming the automobile industry

Thanks to access to talent, funding and infrastructure, Dubai is ideal for startups like Seez, which uses AI and image recognition to enhance and democratise the car buying experience. The company is now looking to leverage on the growth opportunity that Dubai provides, by expanding regionally and internationally. Learn more about Dubai as the ideal […]

Dubai’s economic recovery picked up pace in March, PMI data shows

Dubai: The positive momentum in Dubai’s economic recovery continued gain traction in March with gains in output and new orders according to the latest Purchasing Managers’ Index. The Dubai non-oil economy saw a surge in input price inflation at the end of the opening quarter of the year, driven by mounting input shortages, restocking efforts […]