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Business, Economy, Geostrategy

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

GCC’s two biggest trade allies are Asians

Asian countries are the major trade partners of GCC countries.
By TRENDS Desk
October 28, 2022 11:17 pm
  • Experts believe the US is pulling back from the Middle East and shifting its attention and resources to the "priority theatre" of the Indo-Pacific.
  • But as the world recovers from the Covid-19 pandemic, the GCC countries are expected to play a more significant role in the ongoing Asianization of the global economy.

Dubai, UAE — The Gulf countries rely heavily on assistance from Asia, particularly China, to modernize their economies and diversify away from oil. The cooperation is taking place in areas like the new energy, artificial intelligence, and industrial diversification. Experts believe the US is pulling back from the Middle East and shifting its attention and resources to the “priority theatre” of the Indo-Pacific. But as the world recovers from the Covid-19 pandemic, the GCC countries are expected to play a more significant role in the ongoing Asianization of the global economy. This TRENDS video looks at the major Asian partners of the Arabian Gulf countries.

 

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