UAE foreign trade increases by 49% to reach $1.42 trillion in 2024
The UAE climbed from 17th to 11th globally in merchandise exports and from 18th to 14th in imports between 2021...
Economy
Chinese vent anger at Trump’s trade war with memes, mockery
Beijing, China -- While China's leaders use their economic and political might to fight Donald Trump's trade war "to the...
Geostrategy
Economy
Abu Dhabi Chamber enhances digital Effortless Certificate of Origin service
ABU DHABI, UAE - Abu Dhabi Chamber of Commerce and Industry (ADCCI) has launched the updated version of its Effortless...
- The Abu Dhabi Program for Effortless Customer Experience supports Abu Dhabi’s human-centric approach.
- It enables everyone living and working in the emirate and visitors to carry out tasks quickly, seamlessly and effortlessly.
Business
Investcorp set to invest $1bn in GCC real estate over next five years
The investment in the Dammam warehouse will bring the value of Investcorp’s global warehousing logistics investments to over $4 billion.
Business
Saudi ministry signs hospitality, catering MoUs with 3 firms
Riyadh, UAE---Saudi Arabia's Ministry of Investment has signed MoUs with three companies to develop and market investments in hospitality, tourism,...
- The MoUs were signed with Kadana Company, Lifestyle Development Company and Jusoor Al-Khaleej Company.
- The investment ministry is keen to attract investments and enhance their flow into the national economy in various sectors, SPA reported.
Economy
UK data shows retailers boosted by higher Christmas prices
London, United Kingdom--British retailers won a boost from higher prices over the key Christmas trading period but the volume of goods...
- In December, revenue jumped almost seven percent from a year earlier largely thanks to surging food prices
- UK inflation dipped last month to 10.7 percent but remains close to 40-year highs, forcing consumers to switch to cheaper products
Business
DIFC hosts over 250 companies managing assets worth $450bn
The contribution of financial companies operating from DIFC to the financial services sector in the country exceeded 13% of the...
- The contribution of financial companies operating from DIFC to the financial services sector in the country exceeded 13% of the nominal GDP of Dubai during 2021, Amiri said
- The DIFC has already been ranked first in the Middle East and among the top 20 globally on the Global Financial Centres Index for 2022
Business
MENA IPO Summit to attract top industry experts
Dubai, UAE-- Top industry experts will share first-hand knowledge of the IPO process and the opportunities and challenges of becoming...
- The inaugural summit will shed light on the strong impetus and promising prospects of the initial public offerings (IPOs) sector in Dubai.
- It will also showcase a roadmap for startups and SMEs in Dubai, including expertise around its regulatory environment, business culture and capital opportunities
Business
Top US court backs WhatsApp suit over Pegasus spyware
WhatsApp sued the Israeli technology firm in 2019, accusing it of targeting approximately 1,400 devices with spyware to steal information...
- Pegasus gives its government customers -- which have allegedly included Mexico, Hungary, Morocco and India -- near-complete access to a target's device
- WhatsApp sued Pegasus in 2019, accusing it of targeting approximately 1,400 devices with spyware to steal information from people using the app
Business
Rolls-Royce sells record cars
Sales last year advanced eight percent to a record 6,021 cars.
- "2022 has been a momentous year for Rolls-Royce Motor Cars," said chief executive Torsten Muller-Otvos.
- Orders for Spectre, its first all-electric car that launches later this year, beat expectations, the company reported.
Business
European wages to increase at ‘very strong’ rate, says ECB
"Robust labour markets" alongside "increases in national minimum wages" and "trade unions demand(ing) higher wage increases" are also set to...
- Wage growth over the next few quarters is expected to be very strong compared with historical patterns, the ECB said.
- In December, inflation in the eurozone dipped under the symbolic figure of 10 percent, after 18 months of uninterrupted increase
Business
Ronaldo to earn $214 million to promote Saudi World Cup bid
The oil-rich kingdom, along with Egypt and Greece, is considering a bid to host world football's 2030 showpiece tournament, and...
- The arrival of the former Manchester United, Real Madrid and Juventus player came just weeks after neighbouring Qatar became the first Arab nation to host the World Cup.
- Al Nassr has nine Saudi league titles but never won the Asian Champions League, unlike four-time winners Al Hilal and Al Ittihad, who have lifted the trophy.
UAE foreign trade increases by 49% to reach $1.42 trillion in 2024
The UAE climbed from 17th to 11th globally in merchandise exports and from 18th to 14th in imports between 2021...
Economy
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ACC holds workshop in Jordan on dangers of human trafficking
AMMAN, JORDAN - Amman Chamber of Commerce (ACC), in cooperation with Ministry of Justice and Jordan Judicial Council (JJC), organized...
Geostrategy
Saudi EXIM Bank ink $51bn deal with Turkish firms
Riyadh, Saudi Arabia - Saudi EXIM Bank signed line of credit agreements worth $51 million with Türkiye Finans Katılım Bankası...
Business
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Geostrategy
Google agrees to settle $5bn data privacy breach lawsuit
Google has agreed to settle a consumer privacy lawsuit seeking at least $5 billion in damages over allegations it tracked...
- The lawsuit, filed in a California court, claimed Google's practices had infringed on users' privacy by "intentionally" deceiving them
- Lawyers for the plaintiffs were seeking at least $5,000 for each user it said had been tracked as they visited Google Analytics in private browsing mode
Business
Saudi’s Maaden announces discovery of new gold reserves
Riyadh, Saudi Arabia - Saudi Arabian Mining Company (Maaden) on Thursday announced a discovery of substantial gold reserves, marking a...
- The company's exploration program has led to discovery of a gold resource potential spanning across a 100-kilometer stretch from the existing Mansourah Massarah gold mine
- As of year-end 2023, Mansourah Massarah boasted nearly seven million ounces of stated gold resources and a nameplate production capacity of 250,000 ounces annually
Business
Huawei says expects higher revenue
The company is leading equipment manufacturer for 5G.
- Sanctions since 2019 have cut the firm off from access to US-made components and technologies, forcing it to diversify its growth sources
- In 2023, the group expected revenues of more than 700 billion yuan ($99.2 billion), Hu said - an increase of nearly nine percent from last year

