Gold, silver prices tumble as investors soothed by Trump’s Fed pick
Gold and silver prices dived Friday, European stock markets ended the week up while Wall Street fell slightly with investors reassured...
Economy
Building the New Creative Engine of the Knowledge Economy: Mark Penn
Mark Penn, Chairman and CEO of Stagwell, explains how AI and global tech partnerships are reshaping marketing and the GCC’s...
Economy
Economy
Web Summit Qatar 2026: Doha’s Bid to Become the Next Tech Hub
Early signals hint that Web Summit Qatar 2026 will be its biggest edition yet, with participation expected to outpace the...
- Qatar’s rising ambition to become a global tech hub, high digital adoption, and fast-growing startup support ecosystem has made it the summit’s natural destination
- GCO and the Qatar Investment Authority (QIA) have reinforced that ambition with a series of long-term national programs designed to attract entrepreneurs and global firms
Economy
Saudi Arabia’s high-stakes race toward Vision 2030: Diversifying amid global uncertainty
Moving forward, lower oil revenues will continue to pose challenges to the Saudi economy and its overall targets. Earlier this...
- As non-oil growth accelerates and private investment rises, the Kingdom faces the challenge of sustaining momentum without overstretching its fiscal limits
- Vision 2030 is reshaping the Kingdom’s economy at unprecedented speed, but sustaining growth amid lower oil revenues will test policymakers
Economy
Syria to start replacing currency from Jan 1: central bank chief
Syria's central bank chief said Thursday that the country's currency would start to be replaced with a revamped version from...
- Central bank chief Abdul Qadir al-Hasriya said that "January 1, 2026, is the start date for the replacement process" for the currency
- Hasriya said the move comes at a "pivotal national juncture that reflects the beginning of a new economic and monetary era"
Economy
“New Suez Canal on rails”: Egypt high-speed trains to connect Red Sea, Mediterranean
Workers have started laying tracks in the desert east of Cairo for Egypt's first high-speed train, which will link the...
- The Green Line, as it is known, is the latest of a long list of megaprojects undertaken by El-Sisi's government in the past decade
- The Green Line will run across the country's north, from Ain Sokhna on the Red Sea to Marsa Matrouh on the Mediterranean
Economy
UAE builds resilient economy outpacing skeptics and shocks
From the 1980s onward, the federal government and individual emirates launched broader diversification and liberalization programs to reduce reliance on...
- Decades of strategic diversification, agile governance and private-sector dynamism have turned the UAE into a global benchmark for sustainable growth
- From the oil windfalls of the 1970s to today’s AI-driven economy, the UAE’s long-term vision is delivering fiscal strength, investor confidence and global relevance
Economy
US launches pact for AI supply chains with key Asia-Pacific allies to face China
The United States signed an agreement on the supply chains with key Asia-Pacific allies concerned about China's growing clout --...
- Dubbed the "Pax Silica," adapting the Latin terms for peace and silicon, a key material in AI, the partnership aims to secure supply chains
- China has quickly taken a dominant position in the race for resources in the fast-growing area of artificial intelligence, mining around 70 percent of key rare earths
Economy
MENA emerges as fast-growing global e-trading hub, UAE leads with over half-trillion dollars in volume
The Middle East and North Africa (MENA) region is rapidly becoming one of the world’s most dynamic retail e-trading markets,...
- The study, Trading’s New Horizon: How Access, Innovation and Ambition Are Fuelling MENA’s E-Trading Boom, draws on two years of data from 62,850 verified traders across the region
- The report notes that MENA traders are young, digitally savvy and highly educated, and nearly 86% are aged 18–44, and 64% hold a university degree—far higher than Europe’s 39%
Economy
Qatar’s economic momentum accelerates as diversification gains global recognition
However, Qatar faces downside risks from a deeper global economic slowdown that could weaken energy demand and LNG prices amid...
- World Bank, Standard Chartered, and Moody’s highlight Qatar’s resilience, strong GDP outlook, and rising non-hydrocarbon strength
- Backed by digital transformation, AI investment, and stable credit ratings, Qatar’s non-oil sectors lead regional growth
Economy
Saudi powers forward with deficit spending to fund diversification of its oil-dependent economy
Saudi Arabia greenlit its 2026 budget Tuesday, projecting a deficit of 165 billion riyals ($44 billion) as the kingdom presses...
- The Arab world's largest economy is overseeing a major push to slash its dependence on oil revenues, with officials pouring billions into projects to attract investment and tourism
- The budget figures will be keenly watched by energy industry experts, with the hopes of gleaning insights into where Saudi Arabia expects oil revenues to head in the near future
Economy
Kuwait rises on the strength of collaboration: Airlines deal and sweeping reforms fuel economic revival
In addition, Kuwait hosted a major joint meeting between the GCC and the United Kingdom in October focused on a...
- As S&P upgrades Kuwait’s credit rating and non-oil sectors surge, the country’s 2025 policy strategy proves that collaboration can be a catalyst for long-term sustainable growth
- Major fiscal reforms, new regional agreements, and a booming non-oil economy position Kuwait for stronger investment flows and renewed global confidence
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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
Gold, silver prices tumble as investors soothed by Trump’s Fed pick
Gold and silver prices dived Friday, European stock markets ended the week up while Wall Street fell slightly with investors reassured...
Economy
Company News
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Global economy set for “sturdy growth” in 2026, MENA growth to outpace global economy
The Middle East and North Africa region is expected to outperform the global economy in 2026, with GDP projected to...
Economy
SoftBank lifts OpenAI stake to 11% with $41bln investment
Tokyo, Japan -- Japanese tech investor SoftBank said Wednesday that its stake in OpenAI is now around 11 percent after...
Business
Syria reveals new post-Assad banknotes
Syrian leader Ahmed al-Sharaa unveiled on Monday new banknotes replacing those showing ousted ruler Bashar al-Assad and his family, hoping...
Economy
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Economy
China says to launch digital currency action plan
Beijing, China -- China will on January 1 launch an "action plan" for boosting management and operations of its digital...
- The "action plan" will see banks pay interest on balances held by clients in digital yuan -- a move to incentivize broader adoption of the currency.
- The plan also includes a proposal to establish an international digital yuan operations centre in the eastern financial hub of Shanghai, the report said.
Economy
Web Summit Qatar 2026: Doha’s Bid to Become the Next Tech Hub
Early signals hint that Web Summit Qatar 2026 will be its biggest edition yet, with participation expected to outpace the...
- Qatar’s rising ambition to become a global tech hub, high digital adoption, and fast-growing startup support ecosystem has made it the summit’s natural destination
- GCO and the Qatar Investment Authority (QIA) have reinforced that ambition with a series of long-term national programs designed to attract entrepreneurs and global firms
Economy
Saudi Arabia’s high-stakes race toward Vision 2030: Diversifying amid global uncertainty
Moving forward, lower oil revenues will continue to pose challenges to the Saudi economy and its overall targets. Earlier this...
- As non-oil growth accelerates and private investment rises, the Kingdom faces the challenge of sustaining momentum without overstretching its fiscal limits
- Vision 2030 is reshaping the Kingdom’s economy at unprecedented speed, but sustaining growth amid lower oil revenues will test policymakers