A money exchange vendor counts Lebanese pound banknotes at a currency exchange shop in Beirut, Lebanon. Reuters
As Lebanon sinks lower into financial ruin, foreign banks are cutting ties with the Central Bank, making it difficult for the country to purchase goods and transfer payments from abroad.
Despite previous efforts to control the currency depreciation, the Lebanese pound sold for more than 6,000 to the dollar Thursday on the black market, down from 4,000 in recent days.
The Riksbank, Sweden’s central bank, said it still expects to tighten policy around the turn of the year, surprising markets and sparking big gains in the long-suffering crown currency.
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of Dubai Executive Council and Chairman of the Board of Trustees of the Dubai Future Foundation (DFF), has said the metaverse will shape a new digital future for humanity.
Adnoc Distribution announced on Wednesday the approval of an interim dividend payment to shareholders for the first six months of 2022 of Dhs1.285 billion (10.285 fils per share), equivalent to $350 million. This is the first payment of what is expected to be a full-year 2022 dividend payment of minimum Dhs2.57 billion (20.57 fils
Dubai Chamber of Commerce recently hosted a workshop on the UAE Corporate Tax system at its headquarters, which was attended by over 330 participants from the business community, representing various economic sectors. Organised in collaboration with leading law firm Al Tamimi & Co., the workshop supported the Chamber’s
The UAE e-commerce market is expected to reach $27 billion this year chiefly due to exponential growth in Dubai’s small and medium enterprises as the emirate hosts more than 10,000 SMEs. E-commerce sales in the UAE are estimated to grow by an average of 23 percent per annum between 2018 and 2022, according to Statista.