What a Fed rate cut could mean for the world
The U.S. Federal Reserve is on Wednesday heading for its first interest rate cut since the onset of the COVID-19...
Economy
Chinese EV company Xpeng shares up 6% post mass-market car launch
Xpeng shares rose after the Chinese electric car company launched its new mass-market Mona brand on Tuesday with prices starting...
Geostrategy
WEF24: Gulf cities spearhead global investment surge
GCC cities such as Abu Dhabi, Dubai and Riyadh showcase dynamic growth, rivalling global metropolises, says Julien Hawari, CEO &...
- GCC cities such as Abu Dhabi, Dubai and Riyadh showcase dynamic growth, rivalling global metropolises, says Julien Hawari, CEO & Founder of Special Edition and Million.
- He attributes the Gulf's economic boom to transformative business and government practices, and inclusive policies that promote diversity and attract international talent.
Business
Tourism takes Saudi Arabia to a new global height
Strategic initiatives and a focus on domestic tourism help Saudi Arabia's tourism sector experience unprecedented growth, positioning it as a...
- Strategic initiatives and a focus on domestic tourism help Saudi Arabia's tourism sector experience unprecedented growth, positioning it as a future global travel leader.
- Leading the G20 in tourism sector growth, the Kingdom showcases its global tourism impact, with high-quality hospitality projects and local workforce investment.
Arts & Culture
RAK cultivates communities with arts and culture
“Culture and arts are an integral part of building communities and a key pillar of Ras Al Khaimah’s sustainable development,”...
- Sheikh Saud bin Saqr Al Qasimi champions culture and arts as foundational for community and sustainable development in Ras Al Khaimah.
- The 12th RAK Art Festival at Al Jazeera Al Hamra Heritage Village showcases 106 artists, emphasizing the Emirate's dedication to global culture.
Business
Robots save UAE’s finance ministry 39,000 working hours
Dubai, UAE -- UAE's Ministry of Finance has saved 39,000 hours of human labor by using bots, software applications that...
- The Ministry has just completed phase two of embedding robotic process automation (RPA) into many of its internal processes.
- By 2022, it had more than 50 bots working unattended, delivering great results, and it expects to save an additional 12,000 working hours in 2023.
Business
Arab Bank Group net profit $829.6m
The Group posted a 52% increase in net income compared to 2022.
- Total Assets grew by 6 percent to reach $68.3 billion and loans grew by 5 percent to reach $37.1 billion.
- The Board has recommended to the shareholders the distribution of 30 percent cash dividends for the financial year 2023.
Videos
WEF24: DCO leads in bridging global digital divide
Digital Cooperation Organization's initiatives are key to empower emerging economies through digitalization's full potential, its Secretary General Deemah AlYahya tells...
- Digital Cooperation Organization's initiatives are key to empower emerging economies through digitalization's full potential, its Secretary General Deemah AlYahya tells TRENDS.
- Actively working towards a more cooperative and digitally inclusive future, the DCO is a pivotal player in the digital arena, she adds on the sidelines of the World Economic Forum.
Business
Saudi Arabia’s real estate deals fall 11 percent in 2023: Ministry
Riyadh, Saudi Arabia -- The value of Saudi Arabia's real estate transactions fell year-on-year by 11 percent to nearly SAR...
- The number of real estate transactions reached around 172,070 by the end of 2023, while the total number of sold property reached 177,500.
- Meanwhile, transactions value increased in the remaining five months, led by July at 65 percent.
Videos
WEF discusses politics, climate, but not Gaza crisis
Khalid Janahi, CEO of Vision3, in an exclusive interview with TRENDS, delves into why this vital topic was overshadowed in...
- Khalid Janahi, CEO of Vision3, in an exclusive interview with TRENDS, delves into why this vital topic was overshadowed in global forums like the recenty concluded WEF.
- His insights reveal the complexities behind the limited discussion of the conflict on the world stage and its ramifications for international policy and humanitarian efforts.
Geostrategy
Digital rights of Palestinians, supporters widely violated: Report
“Those developments had a significant impact on the digital world, freedom of speech, privacy, and security, leading to a deterioration...
- Nearly 3 million instances of violent, hateful, or otherwise negative content in the Hebrew language was directed against Palestinians, the report said.
- It also shed light on the practices of Meta’s noticeable discrimination against the content published in Arabic on its various platforms.
Business
Watch: Experts discuss how Arab world reshapes future
At the HUB Davos 2024 conference, UAE's Minister of Economy Abdulla Bin Touq Al Marri highlights the nation's commitment to...
- Amid the regional challenges, the Arab world showcases its resilience and forward-thinking at the World Economic Forum in Davos.
- Sessions by TRENDS under 'The Arab Future' theme focus on the Middle East's economic future and the burgeoning Creator Economy.
What a Fed rate cut could mean for the world
The U.S. Federal Reserve is on Wednesday heading for its first interest rate cut since the onset of the COVID-19...
Economy
Company News
RSG, Hyundai Motor ink pact
Business
Latest News
Feeding fit: Saudi Arabia redefines the poultry sector
In February 2024, Saudi Arabia's poultry industry reached a milestone by producing 100 million kilograms of poultry, thereby setting new...
Business
‘UAE strengthens Gaza support with humanitarian aid’
“The activation of the maritime corridor is crucial. It will serve as an essential lifeline for the people of Gaza,...
Geostrategy
Saudi Arabia set to leap into space tourism by 2026
Madrid-based Halo Space Company has selected Saudi Arabia as its launch site for space tourism, offering tours at $164,000 per...
Economy
Most Read
Geostrategy
Dubai approves rise in energy, water efficiency programs
DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st...
- The Council reviewed updates of the demand side management strategy for 2030 and 2050.
- This is part of the efforts to make Dubai a leading example in efficient energy and water demand management.
Economy
Middle East leads way in global methane mitigation
The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....
- The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming. say an IEA report.
- With Saudi Arabia and UAE leading by example through low emissions intensities , the region is setting new benchmarks in environmental stewardship.
Business
Non-oil trade between UAE and US hits $31.4 billion in 2023
Abu Dhabi, UAE -- Non-oil trade between the UAE and the United States reached $31.4 billion in 2023 and is...
- Danny E. Sebright, President of the US-UAE Business Council, said that US exports to the UAE reached $24.8 billion last year, exceeding 2022 exports of $20.8 billion by 19 percent.
- He highlighted that US exports to the UAE support 125,000 jobs in the US, while UAE exports to the US totaled $6.6 billion last year.