UN food organization sees global cereal output falling in 2026/27
Dubai, UAE -- Global cereal production is expected to decline by 2% in the 2026/27 season to 2.982 billion tons,...
Economy
Closure of Strait of Hormuz may trigger lasting shift in Gulf trade corridors: report
About $650 billion in trade flows are affected, with global maritime routes facing growing disruption and uncertainty risks.
Economy
Economy
AI or inequality tipped for economics Nobel
Stockholm, Sweden - The Nobel economics prize wraps up the 2025 season when it is announced on Monday, as experts...
- Last year it went to Turkish-American Daron Acemoglu and British-Americans Simon Johnson and James Robinson for research into wealth inequality between nations
- For Micael Dahlen, a professor at the Stockholm School of Economics, it is important to look at the disciplines recognised in previous years
Geostrategy
China accuses US of ‘double standards’ over new tariffs threat
Beijing, China -- China accused the United States of "double standards" on Sunday, after President Donald Trump threatened an additional...
- China said on Friday that it would impose "special port fees" on ships operated by and built in the US, calling it a "defensive action."
- The US leader also threatened to pull out of a mooted meeting with Xi at the Asia-Pacific Economic Cooperation summit in South Korea.
Economy
Trump says no reason to meet Xi, threatens ‘massive’ China tariffs
US President Donald Trump said Friday he no longer feels the need for a summit with Chinese leader Xi Jinping...
- In a lengthy and unexpected Truth Social post, Trump railed against China imposing export controls on rare earth minerals -- a critical component in modern technology
- "Some very strange things are happening in China! They are becoming very hostile," Trump said in the post, which he sent as he headed for medical check-up at a military hospital
Business
Silver price hits decades high as gold rush eases
Stock markets, meanwhile, were mixed as traders weighed a slew of issues: massive AI investments, corporate results, US interest rates,...
- The price of silver topped $50 an ounce for the first time since 1993 in the wake of sister safe-haven gold soaring to record highs.
- The metal hit $50.1900, while gold retreated after hitting a record above $4,000 an ounce on Wednesday.
Economy
Gold tops $4,000 for first time on political, economic worries
New York, United States - Gold topped $4,000 an ounce for the first time Wednesday as investors flocked to the...
- US and European stock markets rose while Asian equities fell as investors also kept tabs on the AI investment boom and the prospect of further US interest rate cuts this year
- Gold, considered a safe investment in times of uncertainty, reached an all-time high of nearly $4,060 an ounce Wednesday with silver also rising close to a record high
Economy
WTO hikes 2025 trade growth outlook but tariffs to bite in 2026
The WTO raised its forecast for trade volume growth in 2025 to 2.4 percent -- up from 0.9 percent in...
- In an unusual move, the global trade body has revised its estimates several times this year due to uncertainties surrounding the new tariffs imposed by the Trump administration.
- Since returning to office in January, Trump has slapped several waves of new tariffs on imports entering the United States.
Business
Tech leaders unite to propel future-critical sectors at GITEX GLOBAL 2025
Dubai, UAE: With capabilities of AI advancing every year, its potential to address challenges once thought unsolvable is rapidly expanding,...
- The event brings together the world’s most advanced AI and tech enterprises and leaders from 180 countries, from 13-17 Oct at Dubai World Trade Centre.
- Expand North Star celebrates its 10th edition from 12-15 October at Dubai Harbour.
Business
OpenAI signs multi-billion dollar chip deal with AMD
OpenAI signed a multi-year partnership Monday with chipmaker Advanced Micro Devices as the ChatGPT-maker continues an investment spree to secure...
- The companies announced the plan to develop AI data centers that the chipmaker said would bring in tens of billions of dollars in new revenue over the next five years
- AMD's share price surged 35 percent when markets opened on news of the agreement that would see the company deliver six gigawatts worth of chips to the ChatGPT-maker
Economy
China’s chip challenge: the race to match US tech
Beijing, China - China's push to develop top-end artificial intelligence microchips is gaining momentum, but analysts say it will struggle...
- Ramping up its chip industry is a way for Beijing to beat restrictions imposed by Washington on exports of the most advanced chips -used to power AI systems
- The United States cites national security concerns, such as the risk of giving China a military advantage, for the block, a geopolitical bind that shows no sign of easing
Economy
Vietnam defies US tariffs with 8.2% growth in third quarter
Hanoi, Vietnam -- Vietnam recorded economic growth of 8.2 percent in the third quarter, among the highest increases in more...
- Finance Minister Nguyen Van Thang said the figure -- excluding the surge in 2022 driven by a post-Covid recovery -- was "the highest quarterly growth since 2011".
- The Southeast Asian manufacturing hub achieved growth of 7.96 percent in the second quarter.
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UN food organization sees global cereal output falling in 2026/27
Dubai, UAE -- Global cereal production is expected to decline by 2% in the 2026/27 season to 2.982 billion tons,...
Economy
Company News
Battle of the Tech Hubs
Economy
Latest News
Startups need more than funding: they need an ecosystem
Drew Propson, Head of Technology and Innovation in Financial Services at the World Economic Forum, explains how sustainable growth, AI...
Interview
UAE is shifting from attracting talent to unleashing it: Sheraa vice-chairperson
With national campaigns such as The Emirates: The Startup Capital of the World setting targets of training 10,000 Emiratis and...
Interview
Sovereign tech: Building a regional stack, not rival silos
As Gulf states race to build sovereign AI and cloud infrastructure, the real opportunity lies in pooling capital, standards and...
Economy
Most Read
Weaker dollar creates window for international property buyers in Dubai
Dubai faces substantial supply headwinds that may absorb currency-driven demand without triggering significant price gains. Approximately 45,000-50,000 new residential units...
- A 9.88% slide in the US dollar has boosted foreign buying power in Dubai, cutting the sterling cost of a AED 5 million home by nearly £105,000 in a year
- UAE’s 1 USD–3.6725 AED currency peg means the dirham weakens with the dollar, making Dubai property cheaper for overseas investors while staying stable for locals
Economy
Battle of the Tech Hubs
The GCC is competing to build world-class technology hubs, investing heavily in AI, infrastructure, and sovereign capital to drive digital...
- The GCC smart cities and digital transformation market reached $145.5 billion in 2024 and is expected to reach $907 billion by 2032.
- Abu Dhabi’s Mubadala, for instance, was the largest sovereign-owned investor globally in 2024, deploying $29 billion across 52 deals, a 67 percent increase from the previous year.
Economy
‘Innovation takes time—The Gulf’s economic transformation requires patience and persistence’
In an interview with TRENDS, Josh Lerner says Gulf economies pursuing diversification must recognize that transformation takes time, patience, and...
- Innovation reforms take time, strong institutions, and market-aligned policies, Josh Lerner tells TRENDS
- Funding alone is not enough; follow-on capital and a culture that rewards risk are essential, he adds