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...
Saudi Arabia appoints new CEO to drive NEOM’s mega-city project forward
In a big move, Saudi Arabia appoints Aiman al-Mudaifer as NEOM’s interim CEO, a strategic choice to advance the futuristic...
Economy
COP29 opens with Trump climate withdrawal looming
he COP29 climate talks open Monday in Azerbaijan, under the long shadow cast by Donald Trump's re-election. Trump has pledged...
- Fears of an imminent US departure from the landmark Paris Agreement
- US$100 billion-a-year target to help developing nations prepare for worsening climate impacts
Economy
UAE stablecoin usage up 55% yoy as new regulations drive market momentum
Stablecoins account for the largest share of crypto activity in the UAE (51%), which stands significantly higher than both Bitcoin...
- Value of stablecoins received by services in the country totaled over US$9.8 billion
- between July 2023 to June 2024, just 47 percent of overall crypto transactions took place on centralized exchanges
Economy
Low carbon investments in arrears of climate needs
Upstream investments in the oil and gas industry are still healthy and dwarf those made in low carbon projects and...
- Countries are turning towards renewables such as solar PV and wind following a 40 percent drop in their costs
- The global upstream industry is projected to maintain its hydrocarbon investment level of about US$580 billion in 2024
Economy
Most Asian markets rise ahead of toss-up US election
Asian markets mostly rose Tuesday a day before results from the US presidential election rolled in, with opinion polls showing...
- Uncertainty about the outcome led to warnings that investors could be in for a period of volatility
- Wall Street's three main indexes ended in the red
Economy
Eight OPEC+ members extend oil supply cuts until year end
Supply cuts seek boosting oil prices amid uncertain demand and accelerating supply, with an eye on the imminent US presidential...
- Persistent downside pressure on oil prices due to sluggish Chinese and weakening global demand outlook
- "The US presidential election will have a significant impact on the oil market"- Analyst with Rystad Energy
Economy
Expected impact of the U.S. election on businessÂ
35 percent of CEOs worldwide identify #inflation as the most critical #economic issue facing their countries, followed by boosting #consumer...
- The majority of CEOs (77 percent) say the U.S. presidential election will impact their 2025 business strategy
- Nearly 80 percent of global CEOs describe the current investment environment in the Gulf as very or somewhat attractive
Bitcoin close to record as cautious markets eye US election
The surge in the price of bitcoin is seen as a bet on a Republican victory, as Donald Trump has...
- The leading digital currency was trading around US$72,400 at 0300 GMT, after climbing as high as US$73,563.63 in late US trade.
- The surge in the price of bitcoin is seen as a bet on a Republican victory, as Donald Trump has emerged as the pro-crypto candidate.
Economy
Asian shares rise as markets await tech results
Asian markets mostly rose Tuesday with investors looking ahead to the release of US economic data and the earnings reports...
- Oil market concerns shifted focus on potential oversupply in 2025
- Investors are also awaiting the Bank of Japan's rate decision later this week
Economy
Oil prices tumble after Israeli attacks spare Iran facilities
Tokyo, Japan - Oil prices tumbled in early Asian trading Monday with dealers relieved that Israeli strikes carried out Saturday against...
- The price of North Sea Brent for delivery in December fell by 4.05 percent to $72.97, while West Texas Intermediate plunged by 4.19 percent to $68.77
- "Israel's strike, carefully avoiding energy sites, has softened fears of a full-scale conflict with Iran," said Stephen Innes, analyst at SPI Asset Management
Economy
BRICS integral to Arab trade diversification strategy
The UAE and Saudi Arabia’s trade with China and India far exceeds their trade with the US and UK. This...
- Arab economic powers such as Saudi Arabia and the UAE have intensified efforts to diversify their strategic business relations with China, Russia, and India
- Arab powers have also kept their traditional ties with the nations in the European Union and the Americas, particularly the United States, intact
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...
Company News
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...
Low carbon investments in arrears of climate needs
Upstream investments in the oil and gas industry are still healthy and dwarf those made in low carbon projects and...
Economy
Most Asian markets rise ahead of toss-up US election
Asian markets mostly rose Tuesday a day before results from the US presidential election rolled in, with opinion polls showing...
Economy
Eight OPEC+ members extend oil supply cuts until year end
Supply cuts seek boosting oil prices amid uncertain demand and accelerating supply, with an eye on the imminent US presidential...
Economy
Most Read
Bitcoin close to record as cautious markets eye US election
The surge in the price of bitcoin is seen as a bet on a Republican victory, as Donald Trump has...
- The leading digital currency was trading around US$72,400 at 0300 GMT, after climbing as high as US$73,563.63 in late US trade.
- The surge in the price of bitcoin is seen as a bet on a Republican victory, as Donald Trump has emerged as the pro-crypto candidate.
Economy
Asian shares rise as markets await tech results
Asian markets mostly rose Tuesday with investors looking ahead to the release of US economic data and the earnings reports...
- Oil market concerns shifted focus on potential oversupply in 2025
- Investors are also awaiting the Bank of Japan's rate decision later this week
Economy
Oil prices tumble after Israeli attacks spare Iran facilities
Tokyo, Japan - Oil prices tumbled in early Asian trading Monday with dealers relieved that Israeli strikes carried out Saturday against...
- The price of North Sea Brent for delivery in December fell by 4.05 percent to $72.97, while West Texas Intermediate plunged by 4.19 percent to $68.77
- "Israel's strike, carefully avoiding energy sites, has softened fears of a full-scale conflict with Iran," said Stephen Innes, analyst at SPI Asset Management