Tag : Economy

News

UAE and U.S. review strategic ties in trade, AI and energy

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WASHINGTON: UAE Deputy Prime Minister and Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan met U.S. Vice President J.D. Vance in Washington during an official working visit, as the UAE Foreign Ministry said the two sides discussed strengthening the long-standing strategic relationship between the United Arab Emirates and the United States. The......
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UAE and Malaysian foreign ministers discuss enhanced cooperation

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Sheikh Abdullah bin Zayed Al Nahyan, UAE’s Minister of Foreign Affairs, engaged in productive discussions with his Malaysian counterpart, Zambry Abdul Kadir, during his official visit to Kuala Lumpur on June 15, 2023. The diplomatic rendezvous focused on fortifying the already robust bilateral ties between the two nations and paving......
Business

Vietnam shoemaker PouYuen to lay off 6,000 workers amid plummeting demand

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One of Vietnam’s leading shoe manufacturers, catering to brands like Nike Inc and Adidas AG, announced plans to lay off thousands of employees due to a significant drop in orders. PouYuen Vietnam Co, a subsidiary of Taiwan-based Pou Chen Corp, is set to let go of nearly 6,000 workers with......
Business

Pakistan’s economy suffers major setback as IMF denies $6 billion loan

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The International Monetary Fund (IMF) has dealt another blow to Pakistan’s economy by rejecting the country’s claim of fulfilling the conditions necessary to secure a $6 billion loan. Pakistan signed an agreement with the IMF in 2019 to provide the loan upon meeting certain conditions. However, the funds have not......
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Vietnam needs $368 billion to build a climate-resilient economy – World Bank

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To build a climate resilient and low-carbon economy, Vietnam needs to invest approximately $368 billion between now and 2040, according to the World Bank’s Vietnam Country Climate and Development Report (CCDR). World Bank Group’s Vietnam Country Climate and Development Report is the first of a series of climate and development......
Business

Sheikh Mohamed says partnerships and economy can solve complex challenges

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His Highness Sheikh Mohamed bin Zayed Al Nahyan assured that the UAE will maintain its firm approach to promote coexistence and constructive cooperation. This is based on its belief in people’s right to peace, stability, development and prosperity for future generations. During the first virtual Leaders’ Summit of the I2U2......
Business

UAE Ministry of Economy prohibits Indian wheat exports for four months

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A cabinet resolution has been issued by the UAE Ministry of Economy imposing a four-month moratorium on the export and re-export of wheat and wheat flour originating in India, including free zones, beginning 13th May 2022. The resolution applies to all wheat varieties (spelt), namely hard, ordinary, and soft wheat,......