US Fed will likely cut again despite economic murkiness from shutdown
The central bank's second-to-last rate meeting of the year is taking place against the backdrop of a weeks-long standoff between...
Economy
Oil prices surge as Trump hits Russian crude with sanctions
The international benchmark contract, Brent North Sea crude, jumped 4.8 percent while West Texas Intermediate was up 5.1 percent. Trump on Wednesday announced...
Geostrategy
Business
Dubai Investment posts profit
Its income for the first nine months of 2023 is US$816m.
- The company reported a net profit of $222.46 million for the nine-month period ended September 30, 2023
- The diversified investment company listed on the DFM said its total assets reached $5.71bn at the end of Q3 2023
Economy
Bahrain and Russia look to boost economic cooperation
Manama, Bahrain-- Bahrain and Russia have held discussions to enhance cooperation in various fields of the two countries' economies. In...
- The Bahraini oil minister spoke highly of the Bahraini-Russian relations and their steady progress across various domains, including in the energy sector
- The Russian official expressed his country’s keenness to further bolster its cooperation with the kingdom in various fields, wishing Bahrain further prosperity
Economy
Iran and Russia diplomats hold discussions on BRICS
Tehran, Iran--Senior Iranian and Russian diplomats held talks in Tehran to discuss the BRICS group and its fields of activities...
- The Iranian sides reiterated the Islamic republic's commitment to playing an "effective and constructive role in it" and resolved to participate in all activities in the grouping
- The Russian delegation enumerated the country's priorities in regard to BRICS during their presidency and presented a briefing on the history and background of the group's actions
Business
Sharjah Civil Aviation Department and WFP sign aviation-safety agreement
Sharjah, UAE--The Sharjah Civil Aviation Department (SCAD) and the United Nations' World Food Programme (WFP) have signed an agreement to...
- The WFP's Regional Aviation Safety Office will hold training sessions, seminars, conferences, and special projects, in order to benefit both parties
- The Sharjah Civil Aviation Department will send qualified lecturers and trainers to conferences, workshops, and other events hosted by the WFP
Economy
Qatar’s consumer price index rises by 1.08% in October 2023
DOHA, QATAR - The Consumer Price Index (CPI) for October 2023 reached 108.09 points, showing an increase of 1.08 percent...
- Comparing the CPI of October 2023 with October 2022, an increase has been recorded by 2.52 percent on an annual basis.
- The CPI of October 2023 recorded an increase by 1.48 percent when compared to the index of September 2023.
Business
Dubai plans bigger airport as passenger traffic continues to increase
"Once we've reached about 120 million (passengers a year), which is what we think our total capacity at DXB (Dubai...
- Dubai Airports CEO Paul Griffiths said designs were being drawn up for Al Maktoum International Airport, which will be built on the city's outskirts
- Third-quarter traffic was 22.9 million, the highest since 2019, taking 2023 numbers so far to 64.5 million, nearly 40 percent higher than the same period in 2022.
Opinion
Russia-UAE economic ties strengthen with $9bn trade
The streamlined IP processes, including efficient patent registration and robust litigation frameworks, are key factors contributing to this thriving bilateral...
- The UAE's innovations in the oil sector offer patent opportunities in Russia.
- Intellectual Property (IP) protection vital for Russian imports of UAE goods.
Business
Dubai Airports expect to cross pre-pandemic passenger numbers in 2023
Dubai, UAE--Dubai Airports is expecting annual passenger traffic at Dubai International (DXB) to touch 86.8 million – surpassing 2019 traffic,...
- It forecasts annual passenger traffic at Dubai International (DXB) to touch 86.8 million, crossing 2019 traffic, propelled by strong growth
- Some 23m passengers passed through the airport in Q3, taking the total traffic for the first nine months of the year to 64.5m passengers
Business
Iran to link up electricity grid with Russia via Azerbaijan
Tehran, Iran-- Iran is linking up its electricity grids with Russia via Azerbaijan in order to make up for its...
- The Iranian minister said feasibility studies for connecting power grids have been conducted through three routes including Georgia, Azerbaijan, and Turkmenistan
- He said the use of electricity in Iran’s industrial sector has exceeded that of the household sector for the first time in the history of the country’s power industry
Business
Aramco produces first unconventional tight gas
Dhahran, Saudi Arabia - Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully produced the first...
- Commissioned facilities at South Ghawar have a 300 million standard cubic feet per day (scfd) of raw gas processing capacity
- Work is also progressing at the giant Jafurah unconventional gas field, which is the largest liquid-rich shale gas play in the Middle East
US Fed will likely cut again despite economic murkiness from shutdown
The central bank's second-to-last rate meeting of the year is taking place against the backdrop of a weeks-long standoff between...
Economy
Company News
Latest News
US trading partners hit back on steel, aluminum tariffs
The steep 25-percent levies came into place after midnight with no exemptions despite countries' efforts to avert them, in a...
Geostrategy
IMF approves additional $1.3 billion aid program for Egypt
Washington, United States - The International Monetary Fund has approved an additional $1.3 billion assistance program for Egypt under its...
Economy
Smart cities lead GCC’s IoT boom: NEOM and Smart Dubai in focus
IoT applications are transforming critical sectors such as transportation, where connected vehicles improve traffic management, utilities where smart grids enhance...
Economy
Most Read
Economy
Building Smart Cities Starts with Listening to People
Successful smart cities address real challenges, like Mexico City’s digitalization of government services.
- Smart cities must prioritize people over technology to ensure long-term success and acceptance
- Ignoring community needs can lead to backlash and project failures, as seen in Toronto and Mexico
Interview
Tech and sustainability drive Singapore’s smart tourism vision
To realize its vision for “smart tourism”, Singapore Tourism Board is leveraging cutting-edge technologies like artificial intelligence, data analytics, and...
- STB’s Tcube, a hybrid innovation space launched in 2021, has helped tourism businesses introduce tech solutions, including Al, into their operations.
- More than 1,100 tourism companies have benefited from Tcube programs. Its Singapore Tourism Accelerator has supported 47 start-ups to develop 58 industry solutions across 6 cohorts
Economy
The backbone of the digital economy is upskilling: Jayney Howson
AI won't replace jobs, but reskilling will unlock its true potential—lifelong learning is the key, Jayney Howson, SVP of Learning...
- We’re entering a new phase in the relationship between humans and technology, one that thrives on innovation and potential, Jayney Howson tells TRENDS
- We will see many new jobs and roles emerge, such as “Chief AI Officers” (CAIO), “Prompt Engineers” and “AI Ethicists,” he adds