UAE continues to attract major global companies for new headquarters
Dubai, UAE -- The United Arab Emirates has continued to attract global companies looking to establish regional or global headquarters....
Business
Saudi non-oil exports increase by 17.8 percent in second quarter
Riyadh, Saudi Arabia -- Saudi Arabia’s non-oil exports rose by 17.8 percent in the second quarter of 2025, according to...
Economy
Global aid effort intensifies for flood-stricken Libya
Military transport aircraft from Middle Eastern and European nations, along with ships, have been ferrying emergency aid to the North...
- UN has pledged $10 million to support Libya's survivors, including at least 30,000 people it said had been left homeless in Derna
- Abdel Fattah al-Sisi, the president of Libya's neighbor Egypt, ordered "the establishment of shelter camps" for survivors of the Libyan disaster
Geostrategy
UN Chief to hold meetings with Lavrov, Zelensky, Erdogan to discuss grain deal
New York, UN - The United Nations Secretary General Antonio Guterres will discuss the revival of the grain deal with...
- Antonio Guterres noted that he will hold separate contacts with the representatives of the Russian Federation, Ukraine and Turkey
- Russia on July 17 pulled out of grain deal, which was reached a year ago to ensure safe exports of Ukrainian grain across the Black Sea
Economy
UAE and Iraq to deepen economic, cultural, energy cooperation
Baghdad, Iraq-- The UAE and Iraq have held discussions to boost economic, investment, educational, cultural, agricultural, food, technological, and energy...
- The officials from both countries discussed deepening economic, investment, educational, cultural, agricultural, food, technological, and energy cooperation
- Khalifa Shaheen Al Marar, UAE Minister of State, noted the importance of utilizing the joint committee meetings to explore new opportunities for reinforcing economic growth
Economy
UAE and OECD host regional forum on global minimum tax
Dubai, UAE – The United Arab Emirates and the Organization for Economic Co-operation and Development (OECD) on Wednesday hosted regional...
- Global Minimum Tax involves application of a top-up tax on profits when the effective tax rate is below the minimum rate of 15 percent
- The forum included a workshop on Pillar 2 of the OECD-led Base Erosion and Profit Shifting Project and the Global Anti-Base Erosion Rules
Economy
Norms may make it easy to navigate ethical maze of AI
While speaking at the International Government Communication Forum in Sharjah, he emphasized that it's essential to regulate technology and overall...
- In a world where technology dominates daily life, the need for digital transformation to empower various sectors is undeniable
- It's essential to regulate technology and overall policies to ensure cybersecurity and ethical AI use, highlights a top UAE official
Economy
Inflation surges in US for second successive month
Washington, United States - Consumer inflation in the United States picked up in August for a second straight month, according to...
- The consumer price index (CPI), a key inflation gauge, jumped 3.7 percent from a year ago, picking up pace from July's 3.2 percent figure
- The Federal Reserve has lifted the benchmark lending rate rapidly since March last year to tamp down demand and sustainably lower inflation
Business
Global economy lost $32bn due to credit card frauds, says AMF
Abu Dhabi, UAE - The Arab Monetary Fund said Wednesday that global credit card fraud losses incurred by financial institutions...
- The losses increased substantially by 13.8 percent compared to the previous year, WAM reported.
- The report urges financial institutions to foster cooperation by sharing data and pooling resources in their fraud detection efforts.
Economy
Saudi and Russian oil cuts to cause big supply shortfall: IEA
The IEA said world oil demand remains on track to grow by 2.2 million bpd to 101.8 million bpd this...
- The warning comes a day after oil prices jumped following OPEC's own update
- Saudi Arabia and Russia said that they would extend voluntary cuts until the end of the year
Business
China denies ban on use of iPhone in government agencies
Beijing, China--China on Wednesday denied there was any ban on officials purchasing or using foreign phones, including iPhones, after reports said...
- Foreign ministry spokesperson said that China has not issued any laws, regulations, prohibiting the purchase and use of foreign brand smartphones, including iPhone
- In the wake of reports about significant Chinese restrictions on iPhones at government offices and state-backed entities, Apple shares tanked sharply last week
Economy
UAE and Germany hold workshop on hydrogen strategies, carbon markets
Abu Dhabi, UAE-- Looking to exchange expertise and explore potential synergies in hydrogen and carbon trading, an industry workshop was...
- The UAE's Ministry of Energy and Infrastructure (MoEI) and Germany's Federal Ministry for Economic Affairs and Climate Action (BMWK) organized the workshop
- During the presentation, the UAE gave a peek into its carbon trading outlook and voluntary carbon markets, as well as showcasing the design of its carbon market
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
UAE continues to attract major global companies for new headquarters
Dubai, UAE -- The United Arab Emirates has continued to attract global companies looking to establish regional or global headquarters....
Business
Company News
Latest News
US Fed chair says ‘the time has come’ to start cutting rates
The Fed's benchmark lending rate currently sits at a 23-year high of between 5.25 and 5.50 percent, cooling demand in...
US Fed chair expected to signal support for rate cuts
The annual Jackson Hole Economic Symposium in the US state of Wyoming gives Powell a global platform to enlighten financial...
Economy
Oil falls by more than $2 a barrel on Gaza ceasefire talks and weak Chinese economy
Oil prices fell by more than $2 a barrel Monday on the prospect of successful Middle Eastern peace talks reducing...
Economy
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Economy
China youth unemployment jumps to 17.1% in July
Beijing, China - Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this...
- China is battling soaring joblessness among young people, a heavily indebted property sector and intensifying trade issues with the West
- The unemployment rate among 16- to 24-year-olds released Friday by the National Bureau of Statistics (NBS) was up markedly from June's 13.2 percent
Economy
Crypto crime drops 19.6% as digital ecosystem matures
Advanced blockchain analysis tools, such as those provided by Chainalysis, are empowering law enforcement agencies and enterprises to counter the...
- Research by Chainalysis found that flow of crypto funds to legitimate services has reached their highest levels since 2021
- Aggregate illicit activity over the same period fell by an impressive 19.6 percent
Economy
World’s largest SWF posts $138 billion in H1 profit as AI demand boosts tech
Norway’s massive sovereign wealth fund on Wednesday posted first-half profit of 1.48 trillion kroner ($138 billion), primarily driven by robust...
- Completely different geopolitical situation now present more risks to global stocks
- The PIF, which has $977 billion in assets, reported a 2023 profit of $17.2 billion in a July 2024 filing