China’s robot makers chase Tesla to deliver humanoid workers
Beijing, China - China dominates the market for electric vehicles. Now it's chasing in the race to build battery-powered humanoids...
Business
West tells Iran to ‘stand down’ Israel attack threats; Tehran says ‘no way’
With tensions soaring in the Middle East, the United States says that Iran along with its proxies might attack Israel...
Business
GCC citizens look to pour investment in UK real estate
GCC nationals are expected to pour in investments in the UK real estate market in spite of global inflation, supply-chain...
- According to a May report by property consultancy Knight Frank, Gulf-based high-net-worth families have returned to property investments in recent months
- GCC investors are leveraging a weak pound to buy assets in the UK's luxury property market after the pound fell to its lowest level against the dollar since March 2020 in June
Business
Tokyo equities climb up ahead of key US inflation report
Tokyo stocks opened higher on Wednesday ahead of a key US inflation report and with worries growing over rising Covid-19...
- Wall Street stocks ended lower overnight as markets brace for a potentially grim US inflation report
- Investors fear that another report showing hot inflation will lead the Federal Reserve to double down on large interest rate hikes
Business
Twitter lawsuit accuses Elon Musk of contract breach
Twitter on Tuesday sued Elon Musk for breaching the $44 billion contract he signed to buy the tech firm, calling...
- The social media company's shares edged up slightly in after-market trading when the news broke
- Legal experts and market analysts see Twitter as having a strong upper hand heading into court
Economy
Closing the gender gap in MENA may take 115 years
Closing gender gaps remains a critical driver of national prosperity. Countries that invest in all of their human capital and...
- At 63.4%, Middle East and North Africa have the second-largest gender gap yet to close, with the UAE, Israel and Lebanon being the highest performing countries
- After a big COVID hit, the gender gap hasn’t bounced back across the globe, according to the World Economic Forum’s Global Gender Gap Report 2022
Interview
GCC expects moderate impact of global recession
The region is better placed to deal with global slowdown as oil and gas prices will stay high due to...
- The region is better placed to deal with global slowdown as oil and gas prices will stay high due to supply restrictions, Jean Claus, CEO of Allianz Trade Middle East, tells TRENDS
- Regional GDP growth is expected to be +2.7 percent in 2023 in an 'adverse scenario', slightly lower than the +3.1 percent expected in the baseline scenario, Claus adds
Economy
Euro strikes parity with Dollar for first time in nearly 20 years
The euro struck parity with the dollar Tuesday for the first time in nearly 20 years as a cut in...
- Oil prices meanwhile fell heavily on concerns of a wider recession as central banks hike interest rates to fight decades-high inflation.
- European stock markets fell approaching the half-way mark and in the wake of overnight losses in Asia and on Wall Street.
Business
Middle East airlines’ traffic rises more than 300 percent in May 2022: IATA
The International Air Transport Association (IATA) said the Middle Eastern airlines’ traffic rose 317.2 percent in May compared to May...
- IATA announced passenger data for May 2022 showing that the May capacity rose 115.7 percent.
- Global traffic is now at 68.7 percent of pre-crisis levels as it rose 325.8 percent versus May 2021.
Business
Cyber attacks on network infra focus of MENA ISC 2022 in Riyadh
Rising cyber attacks on network infrastructure in countries across the world, which pose a significant threat to the economies of...
- This edition’s theme is “Cyber Fusion: Converging Cyber Intel: Critical Network Infrastructure IT, OT, and IoT."
- It is currently estimated that companies in Saudi Arabia lose about $6.53 million per cyber attack.
Economy
Dubai to host World Corporate Summit in November
Dubai will host the first edition of the World Corporate Summit which will discuss sports and multi-sectoral business growth as...
- The summit will be attended by decision-makers from multinational corporations, UAE-based firms and government institutions
- The WCS will exchange insights, explore collaborative partnerships and opportunities for business growth
Business
SirajPower, Cleanco sign agreement
SirajPower will develop a fully financed 2 MVA solar-diesel-battery.
- This will provide reliable power to Cleanco via a hybrid system consisting of solar PV, diesel generator, and battery.
- CWT’s currently diesel-powered waste treatment plant will be able to reduce its fuel consumption, operational expenditures, and carbon footprint.
China’s robot makers chase Tesla to deliver humanoid workers
Beijing, China - China dominates the market for electric vehicles. Now it's chasing in the race to build battery-powered humanoids...
Business
Company News
Jadwa buys stake in Gissah
Business
DIEZ reports 5% rise in revenue
Business
Latest News
Samsung Q3 profit down 77.57%
The company's third-quarter profit was well above the first quarter's 640 billion.
Stocks mixed, oil subdued as traders eye Mideast and central banks
There is a sense of relief on trading floors that the Israel-Hamas conflict has been contained so far, with optimism...
Business
Most Read
Geostrategy
Saudi civil aviation authority announces economic policy of sector
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) has announced the economic policy of the civil aviation...
- The economic policy aims to increase the operational performance of the Kingdom's airports and improve the performance of national carriers.
- This is to help change the Kingdom into a global destination for transport and shipping services by providing infrastructure attractive to foreign investment.
Business
Saudia records 50 percent growth in operations during Umrah season
JEDDAH, SAUDI ARABIA - From the start of the month of Muharram until the end of Rabi' Al-Awwal, Saudia Airlines...
- Its commitment to operate during the Umrah season for the year 1445 Hijri aligns with Saudia’s dedication to contribute to the Saudi Vision 2030 goals.
- Saudia planned to provide additional charter flights during the current Umrah season, aiming to transport more than 100,000 Umrah performers through new stations.
Business
Meta releases advertisement-free plan for users in Europe
"To comply with evolving European regulations, we are introducing a new subscription option in the EU, EEA (European Economic Area)...
- Meta said European users can subscribe for a fee of 9.99 euros ($10.50) a month on the web, or 12.99 euros on mobile phones using iOS and Android systems
- The company has taken the decision after a series of tougher European Union rules intended to rein in big tech, including the General Data Protection Regulations