MENA faces shortfall of 111,737 construction Project Managers by 2035: PMI
The PMI report finds that MENA will require up to 330,794 construction project management professionals by 2035 under a high-growth...
Economy
G7 ministers consider oil reserves as markets face volatility
In a statement following a virtual meeting with International Energy Agency (IEA) Executive Director Fatih Birol, the ministers said they...
Geostrategy
Economy
Trump hits India with 25% tariff and ‘penalty’ over Russia ties
US President Donald Trump said Wednesday that imports from India will face 25 percent tariffs, while also announcing an unspecified...
- The measures will kick in on Friday, Trump posted on his Truth Social platform, adding to a bevy of other tariff hikes -- some up to 50 percent -- set to take effect the same day
- He had previously issued multiple delays to his so-called "reciprocal" tariffs since first announcing them in early April, while instituting an interim 10 percent baseline
Economy
IMF lifts 2025 global growth forecast on ‘fragile’ easing in trade tensions
Looking ahead, the IMF expects the world economy to expand 3.1 percent next year, an improvement from the 3.0 percent...
- Despite the upward revisions, "there are reasons to be very cautious," IMF chief economist Pierre-Olivier Gourinchas told AFP.
- "Businesses were trying to frontload, move stuff around, before the tariffs were imposed, and so that's supporting economic activity," he said.
Economy
Tunisia plastic collectors spread as economic, migration woes deepen
Tunis, Tunisia - A towel draped over his head, Hamza Jabbari sets bags of plastic bottles onto a scale. He...
- The 40-something-year-old said he starts the day off at dawn, hunching over bins and hunting for plastic before the rubbish trucks and other plastic collectors come
- "It's the most accessible work in Tunisia when there are no job offers," Jabbari said, weighing a day's haul in Bhar Lazreg, a working-class neighbourhood north of Tunis
Economy
GCC countries record $587.8 billion in nominal GDP by end of Q4 2024
Muscat, Oman -- The nominal Gross Domestic Product (GDP) of the Gulf Cooperation Council (GCC) countries reached US$587.8 billion by...
- The contribution of non-oil activities to the GCC's nominal GDP reached 77.9 percent by the end of the fourth quarter of 2024,
- The manufacturing sector contributed 12.5 percent to the GDP, while wholesale and retail trade accounted for 9.9 percent.
Economy
US says tariff deadline of Aug 1 is firm, no extensions
Washington, United States -- The US deadline of August 1 for imposing tariffs on its trading partners is firm and...
- After the levies kick in, President Donald Trump -- who was negotiating with European Union officials -- is still willing to keep talking, Commerce Secretary Howard Lutnick said
- Britain, Vietnam, Indonesia the Philippines, and Japan have struck deals with the Trump administration ahead of the Friday deadline.
Economy
US Fed poised to hold off on rate cuts, defying Trump pressure
Policymakers at the independent Federal Reserve have kept the benchmark lending rate steady since the start of the year as...
- With Trump's on-again, off-again tariff approach, Fed officials want to see economic data from this summer to gauge how prices are being affected.
- When mulling changes to interest rates, the central bank, seeks a balance between reining in inflation and the health of the jobs market.
Geostrategy
Urgent need for ‘global approach’ on AI regulation: UN tech chief
Geneva, Switzerland -- The world urgently needs to find a global approach on regulating artificial intelligence, the United Nations' top...
- Doreen Bogdan-Martin, head of the UN's International Telecommunications Union (ITU), said regulation was key as concerns rise over fast-moving technology.
- Bogdan-Martin, the first woman to serve as ITU secretary-general in the organization's nearly 160-year history, also stressed the need to get more women into the digital space.
Economy
China says balance between AI development, security ‘urgently requires consensus’
China's Premier Li Qiang warned Saturday that artificial intelligence development must be weighed against the security risks, saying global consensus...
- This week US President Donald Trump unveiled an aggressive low-regulation strategy aimed at cementing US dominance in the AI field
- Opening the World AI Conference (WAIC) in Shanghai on Saturday, Li emphasised the need for governance and open-source development
Economy
Why every company now needs a Chief Geopolitical Officer
When both governments and international institutions are explicitly warning businesses about geopolitical risks, traditional corporate approaches to navigating international relations...
- With rising geopolitical tensions, trade wars, and regulatory divergence, businesses must anticipate and respond to risks that can disrupt operations, and supply chains
- From sanctions and cyberattacks to forced market exits, geopolitical events are now causing multi-billion-dollar losses and lasting brand damage — risks too big to ignore
Geostrategy
UK starts online checks to stop children accessing harmful content
London, United Kingdom -- New UK age verification measures to prevent children accessing harmful online content came into force on...
- Around 6,000 pornography sites have agreed to implement the curbs, according to Melanie Dawes, chief executive of British regulator Ofcom.
- Around 500,000 youngsters aged eight to 14 encountered pornography online last month, according to Ofcom.
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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
MENA faces shortfall of 111,737 construction Project Managers by 2035: PMI
The PMI report finds that MENA will require up to 330,794 construction project management professionals by 2035 under a high-growth...
Economy
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Fake AI videos have a new generation loving 1980s life
Arts & Culture
Oil prices gain, as equities extend record run higher
Oil prices have experienced choppy trading since the surprise US raid Saturday on Caracas that saw Venezuelan president Nicolas Maduro...
Business
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
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Economy
Prone to conflict, displacement, climate shocks, investing in cities is a strategy for global stability
Addressing fragility in cities is, therefore, not only a social imperative; it is also a crucial economic consideration. It is...
- Conflict, displacement and climate shocks converge in cities, threatening global stability
- Stable urban systems unlock private sector confidence, strengthen security and create shared prosperity
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