Celebrities, AI giants urge end to quest for superintelligence capable of outsmarting humans
Signatories include the "Godfather of AI" and 2024 winner of the Nobel Prize in Physics Geoffrey Hinton; Computer Sciences Professor...
Science
US soliciting new bids for Moon mission amid SpaceX delays: NASA chief
The US space agency's Artemis program hopes to return humans to the Moon as China forges ahead with a rival...
Geostrategy
Market Report
Stocks extend global rally as US jobs data cements rate hopes
Hong Kong, China - Markets rallied again Monday following another strong performance on Wall Street, as below-forecast US jobs data fanned...
- All three main indexes on Wall Street jumped Friday after the jobs reading, which also fueled bets on an interest rate cut by June.
- Asian markets tracked the rally in New York, with Tokyo more than two percent higher, while Hong Kong, Wellington, Manila and Jakarta were up more than one percent
Geostrategy
UAE issue guidelines on unlicensed virtual asset service providers
Abu Dhabi, UAE - The National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organizations Committee (NAMLCFTC)...
- The guidance aims to educate licensed financial institutions (LFIs) and public sector on the risks associated with unlicensed virtual asset service providers.
- It aligns with Financial Action Task Force (FATF) publication on updated guidance for a risk-based approach to virtual assets and virtual asset service providers.
Economy
$10 trn of ‘hidden costs’ on food and agriculture system per year, says UN
Paris, France - The food and agriculture system adds at least $10 trillion in "hidden costs" to the global economy every...
- The Food and Agriculture Organization said it conducted an analysis in 154 countries to determine the "true" cost of the agrifood system.
- The global quantified hidden costs totaled around $12.7 trillion in 2020, representing almost 10 percent of the global gross domestic product.
Economy
Expat remittances in Saudi Arabia fall to $2.6bn in September
RIYADH, SAUDI ARABIA - Remittances by expatriates in Saudi Arabia dropped 13 percent year-on-year (YoY) to US$2.6 billion (SAR 9.9...
- On a month-on-month (MoM) basis, expat remittances in the Kingdom declined 8 percent, or US$229 million.
- Remittances by Saudi nationals to other countries also fell 11 percent YoY to US$1.2 billion in September.
Business
Saudi Arabia launches second phase of Visiting Investor Visa
RIYADH, SAUDI ARABIA – The Kingdom’s ministry of investment and ministry of foreign affairs launched the second phase of issuing...
- This service is offered to foreign investors as part of the Kingdom’s efforts to boost investment, consistent with Saudi Vision 2030.
- The booking platform is affiliated with the Ministry of Investment “Invest Saudi,” through which the application will be processed.
Interview
Diversification remains crucial for oil-rich nations
Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in...
- Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in an interview
- She highlights the need for a global sustainability approach, emphasizing localized transitions, inclusivity, and the urgency of shifting to sustainable development
Economy
Russia to continue voluntary oil export cuts by 300,000 barrels a day until yearend
Moscow, Russia - Russia will continue additional voluntary oil export cuts by 300,000 barrels a day until the end of...
- Additional cuts are geared to enhance OPEC+ measures to maintain stability and balance on oil markets
- Russia began to voluntarily cut oil production by 500,000 barrels a day from February’s average back in March
Economy
Global trade at a crossroads as Gaza conflict intensifies
With Suez Canal's pivotal role in global commerce, any disruption may send shockwaves through markets worldwide, challenging the resilience of...
- With Suez Canal's pivotal role in global commerce, any disruption may send shockwaves through markets worldwide, challenging the resilience of international supply chains.
- The region's conflict may intensify the factors impeding trade growth, alongside other issues such as rising rates, crisis in China's realty market, and Russian-Ukrainian war.
Business
Qatar’s business conditions continue to improve in October
DOHA, QATAR – Qatar's non-energy private sector continued to experience improving business conditions at the start of the final quarter of...
- Output, new orders and employment all expanded in October, and the 12-month outlook remained upbeat.
- Profitability improved as firms raised their prices for goods and services at the fastest rate since February.
Business
FGCC Chambers to hold GCC-Egyptian Business Forum in Saudi Arabia
AL-KHOBAR, SAUDI ARABIA - The Federation of Egyptian Chambers of Commerce (FEDCOC) is scheduled to host the first Gulf-Egyptian Business...
- The forum will address the most important economic and commercial issues.
- Gulf and Egyptian officials and entrepreneurs are slated to attend the forum.
Celebrities, AI giants urge end to quest for superintelligence capable of outsmarting humans
Signatories include the "Godfather of AI" and 2024 winner of the Nobel Prize in Physics Geoffrey Hinton; Computer Sciences Professor...
Science
Company News
Latest News
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...
Economy
Stocks mostly rise, oil falls as Trump fans Ukraine peace hopes
London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...
Business
Asian stocks rise as Powell rate warning taken in stride
Equities rose in Asia on Wednesday as traders took in their stride a warning from Federal Reserve boss Jerome Powell...
Most Read
Asian markets advance after Wall St gains, US Postal Service U-turn
Asian markets rose Thursday, tracking gains on Wall Street and following the US Postal Service's U-turn on a ban on...
- Investors remained on edge about the economic outlook, pushing Gold prices above US$2,882
- Disappointing earnings from Google-parent Alphabet weighed on the tech sector
Exclusive: Green investments lead to tangible returns, says WEF’s Philips
Public-private partnerships are essential for advancing sustainable urban development and meeting net-zero targets, Vivian Brady Phillips, Head of Strategic Initiatives,...
- Public-private partnerships are essential for advancing sustainable urban development and meeting net-zero targets, Vivian Brady Phillips tells TRENDS
- Technology plays a crucial role in sustainability, enabling energy-efficient operations, smart city connectivity, and digital waste tracking
Business
UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn
Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...
- He said that of all the positive indicators, the most encouraging is the increasing contribution of non-oil exports to UAE's foreign trade.
- Last year, they climbed 27.6 percent in to reach a record AED561.2 billion – nearly 70 percent of the AED800 billion target.