• OPEC+ meets under pressure from Biden and Omicron
    The meeting "is shaping up to be one of the most significant since the pandemic demand recovery began, and the key signal will be how much more oil will be added to supply to start the new year," said Peter McNally, an analyst at the Third Bridge think tank.

    Biden called it a "major initiative", with analysts estimating the injection at between 65 and 80 million barrels, including 50 million from the United States alone.

    The group said earlier this month it planned to boost output by 400,000 barrels per day in December, despite a room for manoeuvre that is 10 times greater

  • The United Arab Emirates, which turns 50 on December 2, is an economic hub that has turned into one of the region's most influential countries. With an economy second only to Saudi Arabia in the Gulf, the country is one of the easiest countries in the world to do business.
    With little oil but the most diversified economy in the Gulf, Dubai has gone from a fishing village to a major financial, transport and media hub in the space of a few decades. Known for its glitzy shopping centres and its forest of skyscrapers, it has become a major tourist destination.
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  • TRENDS Desk AFP

  • China manufacturing recovers as power shortage eases
    Manufacturing activity in China edged up in November due to an easing in power shortages and a drop in some raw material costs. The latest data from the National Bureau of Statistics was also better than a 49.7 reading expected by a Bloomberg poll of analysts.
  • Iran says ‘firmly determined’ to salvage nuclear deal
    The government has shown its willingness and seriousness by sending a quality team known to all. If the other side shows the same willingness, we will be on the right track to reach an agreement, Iran's foreign ministry spokesman said.

    The 2015 agreement offered a lifting of some of the array of economic sanctions in return for strict curbs on its nuclear program.

    But the deal began falling apart in 2018 when then US president Donald Trump pulled out and began reinstating sanctions.

  • Omicron batters indices across MENA

    Stock markets across the MENA region suffered losses on Sunday as dip in oil prices and mounting concern over ‘Omicron’ weighed heavily on investors’ minds.
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  • ENOC Group records strong growth in supply of lubricants Idemitsu
    "Our successful partnership with Idemitsu underlines the Group’s strong competencies in the lubricants business,” Saif Humaid Al Falasi, Group CEO, ENOC Group, said. “We offer products of the highest quality while adhering to all international safety and quality standards”.
  • QFZA, Alfardan Automotive partner to build logistical hub
    Alfardan Automotive's regional center will be located in the mobility industries cluster in Umm Al Houl Free Zone, located near Hamad Port a greenfield mega port enhancing trade through the port and increasing the volume of goods passing through it.

    The hub will cover an area of more than 67,000 square meters and will utilize the latest logistics systems and processes to import vehicles

    QFZA has created specialized clusters within the zones for specific sectors, including maritime, logistics and emerging technology

  • AD Ports Group inks deal to boost Bahrain cruise sector
    Abu Dhabi-based AD Ports Group has inked an initial agreement with Bahrain-based real-estate firms Diyar Al Muharraq and the Eagle Hills Diyar Company to explore cruise-sector opportunities in their home country. As part of the agreement, they are expected to develop and operate new cruise infrastructure in Bahrain.
  • Fintech fuels MENA startup scene

    It is vital for the economic development of the Middle East by fostering innovation, entrepreneurship and creating large-scale employment opportunities in the region, says an expert.
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  • AED100m endowment funds ‘Khalifa University Enterprises Company’
    The KUEC will aim to encourage technology investors and entrepreneurs to partner with the University to commercialize its growing patent portfolio, in areas such as energy, advanced manufacturing, health, artificial intelligence and robotics, through creation of technology startups.

    The KUEC will include ‘Innovation Acceleration and Startups’ and ‘KU Ventures’, which will support establishing and operating non-IP technology companies

    KUEC also includes the Endowment Fund that will allocate funding for investments and operations

  • Economy
  • With little oil but the most diversified economy in the Gulf, Dubai has gone from a fishing village to a major financial, transport and media hub in...
    By TRENDS Desk AFP

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  • Omicron batters indices across MENA
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