Saudi Arabia’s economy expands as oil and non-oil sectors grow
According to the General Authority for Statistics (GASTAT), all major economic sectors recorded positive annual growth during the quarter, reflecting...
Economy
Fragmenting world economy raises costs beyond geopolitical rivals
A report published by the World Economic Forum (WEF) and consulting firm Oliver Wyman found that fragmentation accelerated through 2025...
Economy
Economy
Asian markets rise as traders prepare for expected US rate cut
Asian stocks rose again Tuesday to extend another record day on Wall Street as traders locked in bets on a...
- While the outcome of the Federal Reserve's policy decision Wednesday is considered a fait accompli, there is still a lot of discussion over its plans for future meetings
- Bank boss Jerome Powell's post-meeting comments will also be pored over for an idea about decision-makers' thinking as the US jobs market slows
Economy
US Fed poised for first rate cut of 2025 as political tension mounts
The Fed's likely move would follow a monthslong push from President Donald Trump to slash rates, and comes amid growing...
- Since the bank's last reduction in December, it has held interest rates at a range between 4.25 percent and 4.50 percent as policymakers monitor the effects of Trump's sweeping tar
- Analysts now broadly expect a 25 basis points rate cut at the end of its two-day meeting on Wednesday, as hiring slows.
Economy
Turkey cuts interest rate again as inflation eases
Turkey's central bank on Thursday cut its policy interest rate for a second meeting in a row as the country's...
- Turkey's central bank had raised its key interest rate to 46 percent in April after protests over the jailing of Istanbul's powerful opposition mayor
- The bank decided to reduce it again on Thursday to 40.5 percent -- a bigger cut than the two-percentage-point reduction expected by analysts
Economy
Global oil supply hit record high in August: IEA
Paris, France -- Global oil supply hit a record high in August as OPEC+ and other countries ramped up production,...
- Eight key members of OPEC+ group, including Saudi Arabia and Russia, have been gradually increasing production since April after restricting output in recent years.
- Non-OPEC+ nations have also been raising their output, with the IEA saying production from the United States, Brazil, Canada, Guyana and Argentina was "at or near all-time highs".
Business
Stock markets strike records despite geopolitical unrest
Gains for oil prices were relatively modest, while gas futures were unmoved after Israel's strikes Tuesday against Hamas in gas-rich...
- Wall Street had notched fresh highs Tuesday as markets digested weak US jobs data that added to expectations that the Fed will lower US interest rates at their next meeting.
- Tokyo's stock market ended at an all-time high, as did Seoul where traders were hopeful the government will not implement plans to lower the capital gains tax threshold for stocks.
Geostrategy
Europe hyperloop test hits new speed record in Dutch trial
The Hague, Netherlands -- A Dutch tech startup said Wednesday it had set a European speed record for its futuristic...
- Hardt Hyperloop said its vehicle had reached 85 kph at the 420 meter European Hyperloop Center test track in the Netherlands and had carried out a complex lane switching test.
- It said the lane switching maneuver -- essential for networked routes -- showed there were no technical barriers to operating at aircraft-like speeds.
Science
MBZUAI, G42 launch K2 Think: Leading open-source system for advanced AI reasoning
Abu Dhabi, UAE -- The Institute of Foundation Models at Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) and G42...
- K2 Think embodies a new approach to building smarter, more efficient AI, as with just 32 billion parameters, it outperforms flagship reasoning models that are 20X larger.
- This breakthrough in parameter efficiency makes K2 Think a powerful alternative for advanced reasoning, redefining what is possible with compact architectures
Business
Stocks climb eyeing US rate cut, political turbulence
A steep downward revision to US job creation cemented expectations that the Federal Reserve would begin lowering its benchmark rate...
- US employment growth is likely to be revised down by 911,000 for the 12 months ending in March, official data showed.
- Investors are now looking to consumer inflation data coming Thursday, since a hot reading could keep the Fed from cutting further as it looks to curb price increases.
Economy
Saudi launches Damascus area reconstruction project
Saudi Arabia announced on Sunday humanitarian projects for Syria including the removal of wartime rubble around Damascus, weeks after inking...
- The oil-rich Gulf kingdom has been a major backer of the new Syrian government, which came to power after an Islamist-led offensive toppled longtime Syrian ruler Bashar al-Assad
- Other agreements inked on Sunday would see Riyadh support the reconstruction of 34 schools in Syria's Aleppo, Idlib and Homs provinces
Geostrategy
Key OPEC+ members to boost oil production again
Oil ministers in the V8 grouping -- comprising Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and...
- Those countries had already increased production by 2.2 million bpd in recent months.
- They said that the new incoming cycle could see up to an extra 1.65 million bpd eventually coming onto the market.
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Saudi Arabia’s economy expands as oil and non-oil sectors grow
According to the General Authority for Statistics (GASTAT), all major economic sectors recorded positive annual growth during the quarter, reflecting...
Economy
Company News
Latest News
Gulf startup hubs: Converging strategies, diverging ambitions
Despite fierce branding as rivals, Gulf startup hubs share capital, policy, and talent structures that are quietly shaping distinct, globally...
Interview
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...
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...
Economy
Most Read
Economy
UAE Innovation Month: Why 2026 is the year of the agentic enterprise
The synergy between humans and AI agents is driving a ‘Great Redeployment’ where there is a structural shift in how...
- AI adoption is surging, but enterprises are stuck in “pilot purgatory”, failing to scale isolated AI experiments into orchestrated, ROI-driven systems
- The shift to an Agentic Enterprise requires multi-agent orchestration, shared enterprise context, and strong governance, especially as GCC regulations tighten
Economy
The great tech reset: How the gulf turned sovereign capital into a tech ecosystem
The GCC has quickly moved from passive capital allocation into active ecosystem building, spurred on by heavy sovereign capital and...
- Heavy bets on cloud, AI infrastructure, and data centers are reshaping the region’s tech base
- The UAE and Saudi Arabia are fast closing the infrastructure gap with global tech leaders
Economy
Jobs and investment top MENA expectations from multinational firms, Ipsos finds
As geopolitical turbulence grows, companies are increasingly at the mercy of forces beyond corporate leadership’s control.
- American multinationals now face the strongest global skepticism, with “Brand America” increasingly linked to ethical, environmental, and economic concerns
- A company’s country of origin has become a reputational “passport,” shaping trust as much as corporate behavior itself