China’s power paradox: record renewables, continued coal
Bangkok, Thailand -- Call it the China power paradox: while Beijing leads the world in renewable energy expansion, its coal...
Geostrategy
IMF lifts 2025 global growth forecast, warns of ongoing trade ‘uncertainty’
In its flagship World Economic Outlook (WEO) report -- compiled before the most recent US-China tariff spat -- the IMF...
Economy
COP28 UAE
Egypt to sign agreement on curbing methane emissions
Abu Dhabi, UAE--Egyptian Petroleum Minister Tarek el Molla announced an agreement on laying down a detailed road map for cutting...
- The agreement as per media reports will be signed by the the United States Trade and Development Agency (USTDA) within the framework of the COP28
- The minister said that Egypt supported green hydrogen projects in order to promote North African country's drive to become a green hydrogen regional center
Economy
Saudi Arabia offers 30-year tax cut to businesses shifting hqrs to kingdom
Riyadh, Saudi Arabia - Saudi Arabia has rolled out a 30-year tax relief program aiming to lure multinational corporations to...
- Under the Regional Headquarters (RHQ) Program, participating companies will benefit from substantial tax incentives, including a zero percent rate on corporate income tax
- The RHQ Program, launched initially in 2021, has already licensed over 200 companies to operate their regional headquarters from Saudi Arabia
Business
People-positive approach needed in clean power transition: WEF paper
Dubai, UAE -- Building massive infrastructure for clean power projects in pursuit of climate goals will need nearly $4.5 trillion in...
- The white paper calls for a dialogue between the industry and community groups and NGOs to define common standards for a people-positive energy transition.
- It also urges governments to not only focus on the lowest price but also the wider societal value creation in their transition plans.
Business
KSA offers 30-year tax holiday for global corporations as regional HQ program fuels investment boom
The approaching 1 Jan deadline has seen investments on headquarters hit $242m in the first nine months of 2023 alone,...
- In 2023, 46.7 percent of newly established headquarters operate in the Software & IT services sector.
- The Regional Headquarters (RHQ) Program is an initiative jointly developed by the Ministry of Investment (MISA) and the Royal Commission for Riyadh City.
COP28 UAE
First Movers Coalition emerges as top advocate of climate-friendly technologies
Dubai, UAE-- Since its launch two years ago, the First Movers Coalition (FMC) has become the world's largest private sector...
- FMC member companies have signed 94 offtake agreements to purchase emerging climate technologies.
- The coalition engages 13 governments who together account for over 50% of global gross domestic product
COP28 UAE
US pledges climate aid for cities, more private sector finance
Samantha Power, administrator of the US Agency for International Development, is visiting the COP28 summit where nations are wrangling over...
- USAID promised $53mn to help 23 cities in the developing world switch to low-carbon activities
- It would mobilize another $2.3bn in private-sector investment to climate-resilient food infrastructure
Economy
One in five children in rich countries lives in poverty: UNICEF
Sixty-nine million children live in poverty in the world's 40 richest countries, UNICEF said in a report, blasting Britain and...
- UNICEF figure is based on relative poverty, which is around 60 percent of the national median income
- The report also highlights the greater risk of poverty for children from single-parent families
Economy
Investments strengthen Türkiye-GCC economic ties
The strategic partnerships, including substantial financial support from UAE and Qatar, mark a new era in Türkiye-GCC ties, promising to...
- The strategic partnerships, including substantial financial support from UAE and Qatar, mark a new era in Türkiye-GCC ties, promising to significantly boost bilateral trade.
- Türkiye-GCC relations are revitalized through billion-dollar deals and support for Turkey's post-earthquake recovery, aiming to triple trade with the Gulf by 2030.
Geostrategy
Russian oil price cap partially successful
LONDON, UK - A Western price cap imposed a year ago on Russia's oil has had limited success with Moscow increasingly...
- The cap was jointly imposed on December 5, 2022 by the European Union, Australia and the Group of Seven rich countries.
- Initially successful, it lost its impact once President Vladimir Putin's Russia found new buyers for its oil and new tankers to deliver it.
Business
Tawzea, NWC ink pacts
The companies have signed two agreements.
- Tawzea is a 50:50 joint venture between Saudi Arabian Amiantit Co and Sustained Infrastructure Holding Co.
- Under the first contract, Tawzea will operate and maintain the water network in Makkah and its governorates.
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China’s power paradox: record renewables, continued coal
Bangkok, Thailand -- Call it the China power paradox: while Beijing leads the world in renewable energy expansion, its coal...
Geostrategy
Company News
Latest News
Lebanon cabinet appoints Karim Souaid central bank governor
Born in 1964, Souaid officially takes over after embattled former chief Riad Salameh's term expired in July 2023 with no...
Geostrategy
Trump announces 25% tariffs on foreign-built vehicles
US President Donald Trump has announced steep tariffs on auto imports and parts, provoking threats of retaliation from trading partners...
Economy
Stock markets rise on fresh hopes for Trump’s tariff approach
Investor sentiment has been jolted in recent weeks by fears that the president's hardball policies could deal a painful blow...
Business
Most Read
Economy
AI, wealth management and trust: Could machines replace human advisors?
The future of wealth management lies in hybrid models, combining AI’s data-driven precision with human empathy and ethical oversight. While...
- By 2027, AI-driven investment tools are expected to become the primary source of advice for retail investors
- The question of AI’s impact on different factors and its overall implications is an important one to address.
Economy
OECD lowers global growth projections over tariffs, uncertainty
"We are navigating troubled waters," said the OECD's chief economist Alvaro Santos Pereira as he summed up the world's economic...
- While global economic activity remained "resilient" in 2024 with a 3.2 percent increase in GDP, the OECD trimmed back its 2025 projection from 3.3 percent growth to 3.1 percent.
- That was due to "higher trade barriers in several G20 economies and increased geopolitical and policy uncertainty weighing on investment and household spending".
Economy
Real challenges of digital transformation
Blockchain enhances security and efficiency by decentralizing data storage, and reducing fraud, David Boast tells TRENDS in an exclusive interview.
- Businesses face challenges in cloud migration, including regulatory concerns, legacy systems, and employee resistance, says David Boast
- Poor execution, lack of employee buy-in, and conflicting leadership opinions often lead to digital transformation failures