Search Site

Economy

ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Aramco-Horse Powertrain deal completed

An agreement for the purchase of 10% equity stake was signed in June 2024.

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

Seoul stocks sink amid S. Korea drama as Asian markets struggle

South Korean stocks sank more than two percent Wednesday while the won rebounded from earlier losses after President Yoon Suk...
  • The Kospi index shed as much as 2.3 percent at the open
  • The won tumbled more than three percent to a two-year low of 1,444 per dollar

Non-oil sectors drive robust growth in GCC countries, says World Bank report

While developing countries paid a record US$1.4 trillion to service debts, the non-oil sectors in the GCC countries are fueling...
  • "The [GCC] region has shown remarkable resilience in the face of global disruptions, moving steadily on their diversification agenda."
  • Saudi Arabia's growth is expected to accelerate to an average of 4.7 percent in 2025-2026 as oil production increases.

Desertification talks open in Saudi Arabia as experts fire warning

UN talks aimed at halting the degradation and desertification of vast swathes of land start in Saudi Arabia. Forest loss...
  • 3.7 billion acres must be restored by decade's end to combat crises
  • Forest loss and degraded soils were reducing resilience to climate change and biodiversity loss

How city governments can foster tech-sector growth without breaking the bank

City governments are usually equipped to promote their cities through websites, newsletters, communications, as well as hosting delegations visiting from...
  • City governments are uniquely positioned to support startup ecosystems through a range of low-cost, high-impact methods
  • The success of a startup ecosystem is built on the strength of connections that exist between the various organisations and people within it

Trump threatens 100% tariff on BRICS countries over currency plans

Washington, United States - President-elect Donald Trump on Monday threatened to impose a 100 percent tariff on the BRICS group nations...
  • The statement comes after a BRICS summit held last month in Kazan, Russia, where the countries discussed boosting non-dollar transactions and strengthening local currencies
  • The BRICS group has expanded significantly since its inception in 2009, and now includes countries such as Iran, Egypt and the United Arab Emirates

Car-centric Saudi to open first part of Riyadh Metro

Riyadh, Saudi Arabia - Saudi Arabia announced Wednesday it is ready to open the first part of the Riyadh Metro,...
  • Services will be provided by 183 trains with 448 carriages manufactured by Siemens of Germany, Bombardier of Canada and Alstom of France
  • The official Saudi Press Agency published a photograph of King Salman, who served as governor of Riyadh for nearly half a century, formally declaring that the project open

Trump’s tariff threats stoke global fears, prompting retaliation warnings from allies and rivals

US President-elect Donald Trump's sweeping tariff plans target Canada, Mexico, and China, raising fears of a global trade war, with...
  • The president-elect on Monday placed both allies and rivals on notice, vowing to quickly slap 25% on Canada and Mexico, and add a 10 percent tariff on China
  • Following through on that threat or his campaign promise of a 10 percent levy on all US imports - will have ripple effects across the global economy, analysts say

What is the gig economy and what’s the deal for gig workers?

The rise of the gig economy has led to significant shifts in employment, with workers increasingly balancing multiple income streams....
  • The gig economy uses digital platforms to connect freelancers with customers to provide short-term services or asset-sharing
  • For millions of people, working nine-to-five for a single employer or being on the payroll is no longer a reality

How public-private partnerships can ensure ethical, sustainable and inclusive AI development

Public-private partnerships (PPPs) address AI bias by combining ethical guidelines with technological auditing tools. Governments set accountability frameworks, and companies...
  • The rapid pace of AI development, growing awareness of its societal impact and the need to harness AI for good makes bridging the 'AI divide' essential
  • By collaborating, stakeholders can ensure AI advances responsibly, equitably and for the greater good, helping to build a more just and sustainable future for all

Iran slams new EU, UK sanctions as unjustified: foreign ministry

ran's foreign ministry Tuesday slammed as unjustified the new sanctions by the European Union and Britain against Tehran over its...
  • Sanctions also included the national airline, Iran Air, for transporting ballistic missiles and military supplies to Russia
  • Iran's economy suffers from US sanctions following the unilateral US withdrawal in 2018 from a landmark nuclear deal

3 ways travel drives economic growth while enhancing global connections and sustainability

WTTC research shows that, having endured estimated losses of $4.5 trillion and 62 million jobs in 2020 alone, travel and...

Latest News

IMF says Omicron could slow global growth

According to the economists, Omicron's threat to economy will likely be less severe than the previous waves.

Qatar takes key step to control own airspace

Qatar said on Tuesday that it has been given a preliminary green light by a UN body on a proposal...

G20 ministers set to green light global tax reform

Finance ministers from the G20 richest nations are expected to give the green light Saturday to a historic deal to...

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private...

Saudi Arabia to create 40,000 jobs for its nationals

Job creation is part of Saudi strategy to help residents obtain high-quality jobs The strategy seeks to push more Saudi...

Desertification talks open in Saudi Arabia as experts fire warning

UN talks aimed at halting the degradation and desertification of vast swathes of land start in Saudi Arabia. Forest loss...

How city governments can foster tech-sector growth without breaking the bank

City governments are usually equipped to promote their cities through websites, newsletters, communications, as well as hosting delegations visiting from...

Trump threatens 100% tariff on BRICS countries over currency plans

Washington, United States - President-elect Donald Trump on Monday threatened to impose a 100 percent tariff on the BRICS group nations...

Most Read

Trump’s tariff threats stoke global fears, prompting retaliation warnings from allies and rivals

US President-elect Donald Trump's sweeping tariff plans target Canada, Mexico, and China, raising fears of a global trade war, with...
  • The president-elect on Monday placed both allies and rivals on notice, vowing to quickly slap 25% on Canada and Mexico, and add a 10 percent tariff on China
  • Following through on that threat or his campaign promise of a 10 percent levy on all US imports - will have ripple effects across the global economy, analysts say

What is the gig economy and what’s the deal for gig workers?

The rise of the gig economy has led to significant shifts in employment, with workers increasingly balancing multiple income streams....
  • The gig economy uses digital platforms to connect freelancers with customers to provide short-term services or asset-sharing
  • For millions of people, working nine-to-five for a single employer or being on the payroll is no longer a reality

How public-private partnerships can ensure ethical, sustainable and inclusive AI development

Public-private partnerships (PPPs) address AI bias by combining ethical guidelines with technological auditing tools. Governments set accountability frameworks, and companies...
  • The rapid pace of AI development, growing awareness of its societal impact and the need to harness AI for good makes bridging the 'AI divide' essential
  • By collaborating, stakeholders can ensure AI advances responsibly, equitably and for the greater good, helping to build a more just and sustainable future for all