Risks are interconnected, need collaborative solutions, says WEF’s Mark Elsner
Davos, Switzerland – Mark Elsner, Head, Global Risks Initiative, World Economic Forum sat with TRENDS during WEF’s summit in Davos...Technology Business Economy Geostrategy Global
Rudolph Lohmeyer: The Gulf is redefining the global future, not just adapting to it
The Middle East must counter global economic divergence by enhancing regional financial integration to drive collective growth, Rudolph Lohmeyer tells...Business Economy
Automation revolutionizes financial business models
The financial services sector is witnessing transformative changes, driven by rising demands for personalized services and the integration of cutting-edge...The financial services sector is witnessing transformative changes, driven by rising demands for personalized services and the integration of cutting-edge technologies
Projected to hit $949bn by 2030, FinTech investments spotlight trends like open finance, decentralized finance and digital assets, while open banking enhances decision-making
Indonesia bans goods trading on social media platforms
Jakarta, Indonesia - Indonesia has banned goods transactions on social media platforms in a new regulation, its trade minister said Wednesday,...The regulation means social media firms will not be able to conduct direct transactions but only promote products on their platforms.
Laws in the archipelago nation did not cover direct transactions through social media platforms such as TikTok, Facebook or Instagram before the new regulation.
Binance selling Russia business
Binance is likely to sell its Russian assets to CommEX.The move comes months after reports suggested US authorities were investigating possible sanctions violations.
The firm said the process would take a year to complete and would involve selling its assets to CommEX, a company that only launched on Tuesday.
Aramco likely to acquire equity in China’s Shenghong Petrochemical
Dahran, Saudi Arabia -- Aramco and Jiangsu Eastern Shenghong Company (Eastern Shenghong) Wednesday signed a cooperation framework agreement to facilitate...Aramco and Eastern Shenghong signed agreement to facilitate talks on the possible acquisition by Aramco of a 10 percent strategic equity interest in Shenghong Petrochemical.
Shenghong Petrochemical, a wholly owned subsidiary of Eastern Shenghong, owns and operates a 320 MBD integrated refinery and petrochemicals complex.
Saudi EXIM Bank, Trafigura sign pact
The bank will extend three-year credit facility of $500 million.The agreement is aimed at facilitating the purchase of domestically produced commodities from Saudi Arabia
It will also enable Trafigura to connect Saudi producers to more than 156 markets worldwide, the bank said.
Markets mostly up but US rate outlook feeds uncertainty
With inflation still sitting well above the central bank's target and the labor market showing few signs of softening, decision-makers...All three main indexes on Wall Street tanked Tuesday, shedding more than one percent apiece.
Asia started on the back foot but most markets managed to eke out gains following a painful start to the week.
EDGE, Brazil Marine Corps sign pact
A technical cooperation agreement will follow the signing.EDGE recently announced a strategic partnership with the Brazilian Navy to co-develop a long-range anti-ship missile.
The signing ceremony took place in the city of Rio de Janeiro as part of an ongoing EDGE leadership visit to key local government offices.
AMEA reaches financial closure on PV plant
The $86m project will be AMEA's first operational asset in Tunisia.The solar plant is being implemented by Kairouan Solar Plant, a project company registered in Tunisia and wholly owned by AMEA Power.
The project is being financed by IFC, a member of the World Bank Group, and the African Development Bank (AfDB).
Police hold boss of troubled developer China Evergrande: report
Xu Jiayin, who is known as Hui Ka Yan in Cantonese, was taken away by authorities earlier this month, according...Evergrande stocks in Hong Kong fell precipitously on Wednesday afternoon following a moderate rise in morning trading, closing the day 19 percent down
Chinese property developer Evergrande's enormous debt has contributed to the country's deepening property sector crisis, raising fears of a global spillover
ChatGPT maker value rockets in funding talks: report
The estimated worth for the company behind generative artificial intelligence platform ChatGPT is nearly triple that of just a year...OpenAI this week said it is adding voice and image capabilities to the platform, which was previously limited to written prompts
Voice and image capabilities are being rolled out to ChatGPT Plus and Enterprise users over the course of the coming weeks
