Global markets rise as Trump weighs future of Fed boss
US indices were near record highs two hours into the Wall Street session with all eyes on an incoming earnings...
Business
Demand for crude will continue to expand through 2050, says OPEC
In its latest annual report on the outlook for oil demand, OPEC sees global oil demand rising by 18.6 percent...
Economy
Economy
Central Bank of Bahrain Sukuk Al-Ijara oversubscribed
Manama, Bahrain - The Central Bank of Bahrain (CBB) has announced that the monthly issue of the short-term Islamic leasing...
- The Sukuk Al-Ijara has a maturity period of 182 days, starting on July 6, 2023 and maturing on January 4, 2024
- Earlier in June, the CBB said that the issue of the 4-year Government Development Bond was oversubscribed by 415 percent
Economy
Sheikh Hamdan launches first phase of waste-to-energy project
Making a strong push for transition to a green economy by building a clean energy infrastructure, Dubai saw the launch...
- The world's largest and most efficient plant built at a cost of $1.08 billion features advanced technologies with no adverse environmental impact
- Sheikh Hamdan said Dubai's has speeded up its transition to a green economy and transform itself into one of the world's most sustainable cities
Investigation
Egyptians caught in devastating economic storm
Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into...
- Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into the depths of the crisis
- While external factors like Russia-Ukraine crisis have hit Egypt, GCC countries have extended support, emphasizing the need for structural reforms and privatization
Economy
Egyptians caught in devastating economic storm
Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into...
- Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into the depths of the crisis
- While external factors like Russia-Ukraine crisis have hit Egypt, GCC countries have extended support, emphasizing the need for structural reforms and privatization
Business
Saudi Catering, RSG ink pacts
The contracts are valid for 20 years, said Saudi Catering.
- The first contract includes the design, building, operation and transfer of a central laundry to serve hotels, resorts as well as other facilities.
- The second contract includes the design, building, operation and transfer of a central production unit for catering and facilities management services.
Economy
UAE’s financial advisory market to touch US$239 billion in 2023
Dubai, UAE--The UAE's financial advisory market is expected to reach a market volume of nearly $239 billion by the end...
- In 2023, assets under management in the UAE's wealth management market are forecast to cross US$255 billion, according to data
- According to industry analysts, some 4,500 millionaires will shift to the UAE and take residence in the country on a permanent basis
Business
Bahrain’s EWA invites bids for US$53mn tender to upgrade desalination plant
Manama, Bahrain--The Electricity and Water Authority (EWA) of Bahrain has invited bids for a $53.19 million tender to upgrade the...
- The Electricity and Water Authority said that international companies will need to submit their bids as per the latest international standards
- The upgrade of the Ras Abu Jarjour plant by reverse osmosis from underground wells is expected to extend the life span of the plant by 20 years
Business
Saudi Arabia’s Al-Ettifaq hires former Liverpool star Steven Gerrard as coach
Riyadh, Saudi Arabia--Former Liverpool captain Steven Gerrard is the latest star name to make the move to Saudi Arabia after...
- Gerrard who was sacked by Aston Villa in October had initially rejected an offer to move to the kingdom, but eventually was lured by the riches on offer
- The Saudi Pro League supported by the kingdom's sovereign wealth fund has lured big names from the major European leagues with the promise of huge salaries
Economy
UAE cabinet sets up ministry of investment, approves new strategies
The new ministry will bolster the UAE's business aims and investment policies, apart from promoting its infrastructure as a global...
- The cabinet approved the updated UAE National Energy Strategy, aiming to triple the contribution of the renewable energy over the next 7 years
- It also approved the National Hydrogen Strategy which aims to promote the UAE’s position as a producer and exporter of low-emission hydrogen
Business
China to restrict export of semiconductor making materials
BEIJING, CHINA - China said on Monday it would slap export controls on two rare metals essential for the manufacture of...
- Exports of gallium and germanium, of which China is a major producer, will require a license from August 1, said a Chinese guideline
- China accounted for 80 percent of global gallium production, according to a 2020 report by the European Commission
Most Read
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
Global markets rise as Trump weighs future of Fed boss
US indices were near record highs two hours into the Wall Street session with all eyes on an incoming earnings...
Business
Company News
Latest News
UAE and Greece hold talks to widen economic cooperation
Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...
Economy
Iran agricultural, food exports hit US$5.5bn in 11 months
TEHRAN, IRAN – The Ministry of Industry, Mine, and Trade said that Iran exported fisheries, livestock, agricultural and food products...
Economy
GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...
Economy
Most Read
Business
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
- During the first two months of 2024, India, the US, Saudi Arabia and Iraq accounted for the majority of ACI’s exports.
- The chamber's exports to the US surged during the first two months of 2024 to about US$297 million compared to US$275 million.
Geostrategy
High inflation leaves Nigeria struggling ahead of Ramadan
Lagos, Nigeria - The holy fasting month of Ramadan begins early next week in Nigeria, with the worst economic crisis in...
- With food inflation at around 35 percent, worshipers taking part in Friday prayers at the central mosque in Lagos said they were barely able to provide for their families
- The government brought in reforms last year that have had a devastating effect on citizens of Africa's biggest economy, where around half the population is Muslim
Economy
Tunisian economic crisis mutes build-up to Ramadan
Tunisians usually prepare for Ramadan -- when daytime fasting is followed by festive but often costly meals with family and...
- Economist Ridha Chkoundali says Tunisia is "experiencing a period of stagflation, which means a decline in growth and a rise in inflation"
- Tunisian banks are being asked by the state to finance the country's debt amounting to 80 percent of GDP, undermining their ability to lend to the private sector