WhatsApp, Twitch among sites that could face Australia under-16s social media ban
Tech companies including WhatsApp and Reddit as well as streaming giant Twitch and gaming firm Roblox could be among more...
Business
US Fed makes first rate cut of 25 basis points over employment risks as Trump mounts pressure
Fed Chair Jerome Powell stressed that the central bank remains "strongly committed" to maintaining its independence from politics, however, when...
Economy
Economy
UAE and Serbia hold discussions on signing of CEPA
In order to boost trade and investment flows and private-sector collaboration, the UAE and Serbia have begun talks on Comprehensive...
- The bilateral non-oil trade in H1 reached US$57.6 million, surpassing the total recorded for the whole of 2020
- Until now, the UAE has successfully concluded CEPAs with India, Indonesia, Israel, Türkiye, Cambodia and Georgia
Economy
UAE’s $1.5 bn bond issue oversubscribed five times
Dubai, UAE - The UAE's $1.5 billion bond issue saw five times oversubscription, attracting over $7.4 billion in bids, the...
- The 10-year bond, with a yield of 4.917%, will list on the London Stock Exchange and Nasdaq Dubai, maturing in September 2033
- The allocation was geographically diverse, with 61% going to banks, 32% to fund managers, 4% to pension funds and central banks, and 3% to the insurance sector
Economy
Project reuse helps UAE boost sustainability drive
Amid UAE's urban expansion, there's a wealth of structures across the country ripe for revitalization, significantly offsetting the environmental impact...
- Amid UAE's urban expansion, there's a wealth of structures across the country ripe for revitalization, significantly offsetting the environmental impact of new developments
- With projects like Expo City Dubai is leading the way, the nation's architectural landscape is evolving towards a greener future, says Devmark CEO Sean McCauley
Business
Abu Dhabi council review budget, sports development
Abu Dhabi, UAE - Abu Dhabi Sports Council discussed business developments and plans for developing the sports sector here, local...
- The board reviewed the general financial budget for 2024, which reflects the strong performance of the council and its impact on the sports sector
- They also reviewed the strategic and operational performance report for the first half of 2023 and the performance indicators report
Infographics
Aramco, IHC among biggest companies in Middle East
Energy, banking and financial services, and industrial sector companies are among the largest in the Middle East, especially the Gulf...
- High representation of these sectors is due to the region's rich oil and gas reserves and its growing population and economies.
- The Middle East is also home to a number of other significant industries, such as tourism, healthcare, and education.
Business
EIH buys stake in Al Ain Pharmacy
Move aligns with EIH's aim to diversify sources of investment.
- The acquisition is vital for EIH as it seeks to strengthen its investment in healthcare through its subsidiary Health Plus Holding.
- The move will help provide additional and sustainable value to investors and achieve the maximum return on investment.
Business
Israeli PM Netanyahu to meet Elon Musk during US visit
Benjamin Netanyahu announced his meeting with Elon Musk through a post and told that they will discuss artificial intelligence. The...
- Netanyahu said on Monday that Israel needs to become an Artifical Intelligence leader
- He will meet presidents of Ukraine, US and Turkey among other world leaders
Economy
Oman annual inflation inches up 0.82 percent in August
Muscat, Oman--Annual inflation of Oman has shot up 0.82 percent in August as against 2.4 percent in the same month...
- Food prices were also up with an 11.65 percent hike in fish and seafood, an 8.87 percent increase in dairy and egg prices and a 5.5 percent uptick in vegetable costs
- The cost of household furnishings and routine maintenance went up by 2.63 percent, miscellaneous goods and services by 2.61 percent, dining and lodging by 2.46 percent
Economy
UN meet looks to salvage promises on helping world’s poorest
The UN head said the summit will seek a "global rescue plan" on the targets of Sustainable Development Goals, as...
- Developing countries' leaders will be present in force even as US has hoped to show it is also interested in development
- Antony Blinken said he would hold a meeting at the UN on how to use AI to advance the Sustainable Development Goals
Economy
Surplus in overall balance makes UAE’s economy robust
"The fiscal policy bolstered economic growth and the competitive business environment, leading to the UAE being ranked as the fastest-growing...
- The UAE's robust fiscal performance and diversified government revenues showcase an efficient fiscal policy
- In 2022, there was a recorded 31.8 percent year-on-year growth in revenues, and a 6.1 percent rise in expenditures
WhatsApp, Twitch among sites that could face Australia under-16s social media ban
Tech companies including WhatsApp and Reddit as well as streaming giant Twitch and gaming firm Roblox could be among more...
Business
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Crude could spike by US$20 on Iran oil shock
Oil prices could shoot up US$20 per barrel if Iranian production sees a hit resulting from Israeli retaliation, according to...
Economy
Sub-Saharan Africa: Nigeria takes #2 spot in global crypto adoption
Sub-Saharan Africa accounts for the global cryptocurrency economy’s smallest share, representing 2.7% of transaction volume worldwide between July 2023 and...
Economy
Asia-Pacific markets mixed after Powell signals smaller rate cuts
Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the...
Economy
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Business
Qatar Airways seeking 25% stake in Virgin Australia
Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal...
- The deal could significantly shake up Australia's air travel market which is currently dominated by Qantas
- In 2023, Australia's center-left government rejected Qatar's bid to put on 21 extra international flights to and from Australia
Saudi economy to register losses until 2027, says finance ministry
Saudi Arabia anticipates a budget deficit of 2.3 percent of GDP in 2025. Estimates put total government revenues for 2025...
- Saudi Arabia anticipates a budget deficit of 2.3 percent of GDP in 2025
- Estimates put total government revenues for 2025 at approximately US$320 billion, which would create a deficit of US$27bn
Economy
China launches late stimulus push to meet 2024 growth target
China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch...
- hina plans to issue special sovereign bonds worth about $284.43 billion this year
- A wide range of economic data in recent months has missed forecasts