Empower okays $119.1m H2 2025 dividend
The dividend is equivalent to 43.75% of paid-up capital.
Business
GCC energy sector strengthens global role despite lower oil output
Gulf Cooperation Council (GCC) countries continue to strengthen their position in global energy markets, supported by extensive natural resources, advanced...
Geostrategy
Economy
Mega projects bet high on diversified future
This TRENDS infographic dives into Saudi Arabia’s ambitious transformation to discover how the Kingdom is reshaping its future with high...
- Saudi Arabia has allocated $250 billion in construction contracts since 2016 as part of its Vision 2030 strategy to diversify economy, attracting tourists and investments
- In 2022, Saudi Arabia emerged as the fastest-growing G20 economy, fueled by a massive $1.25 trillion investment in real estate and infrastructure projects
Geostrategy
Partnership deals help UAE and India strengthen ties
"The UAE and India have robust, deep-rooted bilateral relations. The signing of the Comprehensive Strategic Partnership in 2017 and the...
- Ahmed Ali Al Sayegh, UAE's Minister of State, highlights the country's commitment to multilateral cooperation at the G20 Summit.
- The UAE's participation in the G20 Summit aligns with its role as host for the upcoming COP28 climate conference, adds the minister
‘Historic’ EU-Middle East-India trade plan launched
At the G20 Summit in New Delhi, the US, EU, Saudi Arabia, and UAE have launched an ambitious trade initiative...
- At the G20 Summit in New Delhi, the US, EU, Saudi Arabia, and UAE have launched an ambitious trade initiative to connect railways, ports, and energy networks globally
- The initiative could bypass the Suez Canal to accelerate India-Europe trade and has broader geopolitical implications, including fostering relations between Israel and Saudi Arabia
Geostrategy
Deadliest quake in decades kills over 2,000 in Morocco; rescue bid is on
Following the devastating earthquake in Morocco on Saturday that killed more than 2,000 people so far, the UAE, Iran, Iraq,...
- Tremors felt in major cities including Marrakesh, Rabat, and Casablanca.
- Remote mountain villages severely affected, many victims feared trapped.
Geostrategy
G20 treads lightly on Ukraine war, climate issues
The African Union joined the G20, boosting Africa's voice, while a new initiative aims to connect Europe, the Middle East,...
- The African Union joined the G20, boosting Africa's voice, while a new initiative aims to connect Europe, the Middle East, and India through infrastructure
- G20 nations lacked a unified pledge to end fossil fuels but committed to tripling renewable energy sources by 2030, emphasizing sustainable alternatives
Geostrategy
GCC poised to help MENA in global trade integration
With MENA accounting for just 7.4% of global trade in 2022, GCC's strategic initiatives and resources can pave the way...
- With MENA accounting for just 7.4% of global trade in 2022, GCC's strategic initiatives and resources can pave the way for regional trade integration and global prominence
- Despite challenges like restrictive nontariff measures, red tape, and corruption, GCC-led comprehensive reforms and a global engagement strategy can make MENA a trade hub
Geostrategy
‘Multilateralism only option to tackle global crises’
Stressing that “we are in a race against time” on issues from climate change and biodiversity loss to education and...
- Outgoing UN General Assembly President Csaba Kőrösi emphasizes the importance of international cooperation
- Kőrösi also calls for urgent action on climate change, education, gender equality, and sustainable development
Videos
A glimpse into GCC’s financial evolution
As the winds of change blow, three major forces—regulation, consolidation, and digitization—are shaping the trajectory. These elements intertwine, creating a...
- Driven by regulation, consolidation, and digitization, the region's financial services sector is undergoing a pivotal transformation
- Dive into the TRENDS Explainer video to understand and navigate the evolving landscape of the banking sector across the region
Geostrategy
UAE evacuates 34 Emiratis from Florida ahead of approaching Hurricane Idalia
ABU DHABI -- The United Arab Emirates Embassy in Washington, in coordination with representatives of the UAE's officials mission in...
- Evacuation is being coordinated by the UAE Embassy in Washington with UAE's official mission in the US
- The UAE Embassy advises Emiratis to heed local authority instructions and avoid hurricane-affected areas
Geostrategy
Iran’s non-oil export to ECO countries from Mar 21 to July 22 2023 reaches $3.6bn
TEHRAN, IRAN – Iran’s export of non-oil products to the Economic Cooperation Organization (ECO) member states in the first four...
- In the four-month period, Iran exported 8.161 million tons of non-oil commodities to ECO member states.
- In the same period, Iran imported 1.394 million tons of goods, valued at $2.445 billion, from the ECO states.
Empower okays $119.1m H2 2025 dividend
The dividend is equivalent to 43.75% of paid-up capital.
Business
Company News
RSG, Hyundai Motor ink pact
Business
Latest News
OpenAI reveals new GPT-4o model that is faster and free for all users
OpenAI on Monday launched a new AI model and desktop version of ChatGPT, along with an updated user interface, the...
Business
Asia markets mixed as investors assess China inflation data
Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reportedChina’s consumer price index climbed 0.3%...
Economy
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Business
Meet Middle East tourism’s power players
Tourism industry accounts for 9 percent of GCC region's GDP and it is expected to grow annually at 7.7 percent....
- The region’s largest economy, Saudi Arabia, won encomiums for the "remarkable achievement" of receiving over 100 million tourists in 2023.
- Motivated by this success, the Kingdom has now set a new ambitious target of welcoming 150 million tourists by 2030.
Business
Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
- Jordan’s pharmaceutical and medical supplies sector has succeeded in transforming into a global industry.
- The pharmaceutical and medical supplies sector employ approximately 10,000 workers.
Geostrategy
GCC unveils strategic vision for regional stability
For the first time in its 43-year history, the bloc has set a strategic vision that prioritizes diplomacy and dialogue...
- For the first time in its 43-year history, the bloc has set a strategic vision that prioritizes diplomacy and dialogue over force to boost regional security and stability.
- This landmark initiative marks a significant departure from previous strategies, setting a new precedent for peaceful dispute resolution and cooperation in the region.