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finance & economy

Jan 29

Exxon turnaround sapped by chemicals, refining

Exxon turnaround sapped by chemicals, refining

HOUSTON: At Exxon Mobil Corp, CEO Darren Woods’ plan to revive earnings at the largest US oil and gas company is being sidetracked by the two businesses he knows best: Chemicals and refining.

Another year"...

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Jan 28

Jumblat: Budget Approval Better than Vacuum, Extrabudgetary Spending

Jumblat: Budget Approval Better than Vacuum, Extrabudgetary Spending

Progressive Socialist Party leader Walid Jumblat on Monday noted that “the step of approving the state budget is better than vacuum or extrabudgetary spending,” although the PSP-led Democratic Gathering bloc has abstained from voting on the bill in parliament.

“The"...

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Jan 28

Deficit is up 11 times in new budget and could still go higher

Deficit is up 11 times in new budget and could still go higher

BEIRUT – Lebanon’s parliament passed the 2020 budget on Monday although its finance committee chief said the forecast revenues might be unrealistic as the country wrestles with a major economic and financial crisis.

The"...

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Jan 28

Appalachian State University Delegation Visits AURAK

Appalachian State University Delegation Visits AURAK

A delegation from Appalachian State University (ASU) in the United States visited the American University of Ras Al Khaimah (AURAK) for a campus tour and discussions with the leadership on deepening their cooperation.

Sheri"...

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Jan 27

Lebanon needs $8.5bn IMF bailout package, IIF says

Lebanon needs $8.5bn IMF bailout package, IIF says

Lebanon will need an $8.5 billion (Dh31bn) bailout package from the International Monetary Fund to break its economic impasse, meet future financing needs and restore growth, the Institute of International Finance said.

Even"...

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Jan 27

WorldRemit Partners with Wizall Money to Launch its First Mobile Money Transfer Service to Senegal

WorldRemit Partners with Wizall Money to Launch its First Mobile Money Transfer Service to Senegal

Leading online money transfer company WorldRemit has joined forces with Wizall Money to launch its first mobile money transfer service to Senegal. WorldRemit saves the Senegalese community living abroad time and money as they do not have to visit a traditional money transfer agent and pay expensive fees to send money home. Instead, using the WorldRemit app or website, they can send funds online 24/7. The new partnership with Wizall Money enables WorldRemit customers in over 50 countries, including France, Spain and the USA, to send money home instantly to over 60 000 mobile money accounts in Senegal. Recipients can then store their funds, pay......

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Jan 27

Zayed Sustainability Prize Opens Submissions for 2021 Edition

Zayed Sustainability Prize Opens Submissions for 2021 Edition

Following the recent celebration of the 10 winners of the 2020 awards during Abu Dhabi Sustainability Week, the Zayed Sustainability Prize has officially announced that its submissions process for the 2021 edition is now open.

Accepting"...

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Jan 26

Lebanon’s 2020 budget foresees a surging deficit

Lebanon’s 2020 budget foresees a surging deficit

BEIRUT, Jan 24 – Lebanon’s parliament will vote next week on a 2020 budget that projects a deficit of 7% of GDP, the head of parliament’s finance and budget commission said on Friday — far larger than the 0.6% originally planned, as multiple crises batter the country’s"...

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Jan 26

Lebanon’s new finance minister to meet IMF official

Lebanon’s new finance minister to meet IMF official

BEIRUT: The new finance minister of debt-saddled Lebanon said he would meet with a senior official from the International Monetary Fund on Saturday for a “courtesy visit” and not bailout talks. Ghazi Wazni’s meeting with IMF Alternative Executive Director Sami Geadah comes"...

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Jan 26

Embassy Group Celebrates the Spirit of Patriotism with a Special Tribute on Republic Day

Embassy Group Celebrates the Spirit of Patriotism with a Special Tribute on Republic Day

On the landmark occasion of the 71st Republic Day, Embassy Group celebrated the spirit of patriotism by lighting two of its iconic properties with the Indian tri colors, igniting pride and patriotism in every Indian.

Customary"...

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