Anthropic announces massive AI chip deal with Google
San Francisco, United States - Artificial intelligence giant Anthropic said Thursday it was expanding its use of Google cloud computing...
Science
Gold falls again as rally comes to halt, Asian markets drop
Gold and silver tumbled for a second day Wednesday, bringing a rally in the precious metals to a juddering halt,...
Economy
Economy
Gaza unrest poses risk to oil markets, global growth
Middle East tensions likely to spur a mild global recession, with oil potentially hitting $120-$150 per barrel, says a latest...
- Middle East tensions likely to spur a mild global recession, with oil potentially hitting $120-$150 per barrel, says a latest report by Oxford Economics.
- The report predicts a quick rebound in equity markets post-conflict dip, while urging policymakers to ready economic safeguards and call for peace.
Business
Al Ansari 9M profit US$105m
The operating income of the group rose to US$234 million.
- Al Ansari received shareholders’ approval for the proposed interim dividend payment of $81 million.
- The second payment of the dividend of an equivalent amount will be disbursed in April 2024.
Economy
Saudi Arabia’s Industrial Production Index falls 11.2% in September
RIYADH, SAUDI ARABIA – The Kingdom of Saudi Arabia’s Industrial Production Index (IPI) fell by 11.2 percent year-on-year (YoY) in...
- The IPI measures the relative change and reflects the production quantities of materials and goods.
- Data issued by the General Authority for Statistics showed that Saudi IPI fell to 122.99 points in September.
Business
ADIB issues green sukuk
The final orderbook of the green sukuk closed at $2.6 billion.
- The issuance was met with exceptional demand, attracting interest from over 100 global and regional investors.
- ADIB intends to allocate an amount equal to the net proceeds of this issuance to fund eligible green projects.
Economy
France to host ‘humanitarian aid’ conference for Gaza
sraeli Prime Minister Benjamin Netanyahu has said there will be no fuel delivered to Gaza and no ceasefire with Hamas...
- Thursday's aid conference has been put together in a hurry on the sidelines of the annual Paris Peace Forum on November 10-11
- Few Arab nations are expected to send delegates, although the Palestinian Authority will send its prime minister and Egypt a ministerial delegation
Putin, Erdogan and Raisi make visits in Central Asia
Tashkent will host the Iranian and Turkish presidents, as well as Pakistani Prime Minister Anwaar-ul-Haq Kakar and Central Asian leaders....
- The talks in Tashkent summit are expected to focus on trade, humanitarian cooperation and transport
- Turkish president Recep Tayyip Erdogan is likely to bring the Gaza issue to the table
Business
UAE rides property-market boom as demand soars
Global firms looking to hire space for offices and demand from govt, local dwellers have turbocharged the sector, driving property...
- Demand for office space in Abu Dhabi was primarily fueled by government and semi-government institutions, which remain the city's primary tenants
- To cope with the high demand, Dubai will supply the market with an extra 72,000 square meters of office space by the end of the fourth quarter
Business
Oil slumps below $80 for first time since July, stocks wobble
Brent crude, the main international contract, briefly dropped more than 2 percent to hit $79.80, before bouncing back above $80...
- Crude had already plunged about four percent the previous day on news that China's exports fell at a faster pace than predicted in October.
- The drop in oil prices provided some support to stocks, but they still struggled. After opening with modest gains, Wall Street's main indices slipped into the red.
Economy
Jordan signs two deals worth $140m for water sector development
Amman, Jordan - Jordan's government has signed two deals with the German KfW Development Bank to secure a financial package...
- Jordan's Petra News Agency reported that the initial tranche of financing encompasses a $84 million soft loan
- A subsequent $56 million soft loan will spearhead a program dedicated to curtailing water losses and diminishing the rates of unbilled water
Economy
Saudi FDI flows revised to US$33bn in 2022 under new IMF-approved methodology
Riyadh, Saudi Arabia-- Foreign direct investment (FDI) into Saudi Arabia amounted to $32.52 billion in 2022, revised upwards from $8...
- The IMF-endorsed methodology relies on analyzing individual financial statements to realize highly accurate annual statistics
- The new methodology and figures for FDI was invented after nearly 18 months of work between the Ministry of Investment, GASTAT and SAMA
Anthropic announces massive AI chip deal with Google
San Francisco, United States - Artificial intelligence giant Anthropic said Thursday it was expanding its use of Google cloud computing...
Science
Company News
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Oil, gas, and renewables: How global policies and markets are reshaping energy in 2025
The Trump administration’s trade tariffs and withdrawal from the Paris Agreement pose major risks to global economic growth and energy...
Economy
The future is already here
Humanity is on a tech-fueled trajectory. Data and informed predictions are inspiring, showing how AI is reshaping economies, smart cities...
Analysis
China, Canada retaliate to Trump tariff war as markets fall
Washington, United States -- Mounting trade wars between the United States and its largest economic partners deepened Tuesday as huge...
Business
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Geostrategy
Future of Humanity – TRENDS’ yearly Special Issue now online
Dubai, UAE -- TRENDS’ yearly Special Issue is out. This year’s edition, titled Future of Humanity, explores key global shifts...
- The edition delves into transformative themes such as GCC’s leadership in urbanization, smart cities, and logistics, as well as the role of AI in reshaping healthcare and finance.
- It also highlights cultural diplomacy, the evolving digital economy, and the power of travel in shaping the human experience.
Science
Microsoft retires Skype, the online voice and video call pioneer
San Francisco, United States - Microsoft on Friday announced it was retiring Skype, the online voice and video call pioneer...
- Skype was founded in 2003 by Scandinavians Niklas Zennstrom and Janus Friis in Estonia, revolutionizing internet communication by offering free voice calls
- Over the years, and as internet speeds improved, Skype evolved to include video calls, instant messaging, file sharing and group communication features
Economy
Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...
- According to GASTAT, Saudi Arabia's inflation rate is considered the lowest among the G20 countries.
- CPI measures the prices paid by consumers for a fixed basket of goods and services consisting of 490 items.