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
US tariffs to kick in Aug 1 barring trade deals: Treasury Secretary
Washington, United States -- US tariffs will kick in on August 1 if trading partners from Taiwan to the European...
Economy
Economy
US Fed Chair Powell leaves door open to two straight rate hikes ahead
The Fed recently paused its aggressive cycle of rate increases after 10 consecutive hikes, to give policymakers more time to...
- "We believe there's more restriction coming," Powell told a central banking conference in Portugal on Wednesday.
- Powell said that US monetary policy will likely take more time to act against high inflation, and bring it down to the Fed's long-term target of two percent.
Economy
Italy warns against ECB decision to increase interest rates
The central bank has hiked rates at the fastest pace ever over the past year in a bid to cool...
- "The ECB's simplistic recipe of raising interest rates does not appear to many to be the right way forward," Italian PM Meloni said in a speech.
- Meloni was reacting to ECB President Christine Lagarde's warning Tuesday that the bank would "continue to increase rates in July".
Economy
Markets rise as upbeat US data plays against rates outlook
Wall Street popped higher Tuesday after a string of readings soothed concerns about a possible recession, while traders were also...
- President Joe Biden said on Tuesday that while economists had predicted a contraction was on the way, it still had not materialized.
- Investors are now keeping tabs on a meeting in Portugal where speakers include top central bankers including Fed boss Jerome Powell and the head of the European Central Bank.
Economy
Qatar’s nominal GDP to hit $227.3bn in 2023, inflation 3%
Dubai, UAE -- Qatar's nominal GDP is expected to reach $227.3 billion in 2023 and $228.8 billion in 2024, driven...
- The report forecasts real GDP growth to reach 2.3 percent in 2023 and 2.6 percent in 2024.
- The report forecasts the current account surplus to reach 20.8 percent of GDP in 2023 and 22.8 percent of GDP in 2024.
Geostrategy
Rescue ship saves 86 migrants off Libyan coast: charity
The UN's International Organization for Migration estimates that 1,724 migrants had disappeared trying to cross the Mediterranean to Europe so...
- Spokesman for the charity said that most of the migrants were minors, trying to cross the Mediterranean on their own, without family
- Italian authorities said the passengers can disembark at its port of Bari, which the charity said was still a three-day voyage away
Economy
Qatar to ramp up investment and economic cooperation with Iran
Tehran, Iran-- Qatar has renewed its willingness to boost economic cooperation with Iran, ramping up investment in order to strengthen...
- The resolve to boost ties was expressed in a phone call between the Emir of Qatar Sheikh Tamim bin Hamad Al Thani and the Iranian President Ebrahim Raisi
- The Iranian president on his part said the Islamic Republic has always emphasized the promotion of relations and expansion of ties between the two countries
Economy
Sharjah Football Company signs Tunisian star Mohamed Firas Belarbi
Sharjah, UAE--Sharjah Football Company has signed Mohamed Firas Belarbi, the Tunisian international defender, from the Ajman Club for an undisclosed...
- Belarbi considered to be one of the most effective attacking midfielders in the UAE championships over the past two years took part in all 26 league matches, scoring 12 goals
- Sharjah Football Company, founded in 2007, is a joint venture between Sharjah Sports Club and the Sharjah Investment and Development Authority
Economy
Doha, Dubai most competitive job markets globally
Despite international scrutiny over labor practices, Qatar and the UAE continue to attract job seekers with attractive policies like tax-free...
- Despite international scrutiny over labor practices, Qatar and the UAE continue to attract job seekers with attractive policies like tax-free income, a recent study points out
- Cities in Northern California, particularly San Jose and San Francisco, have demonstrated high competitiveness due to major layoffs in tech firms, adds the Resume.io study
Economy
Key technologies set to positively impact the world
Jurgens' remarks coincide with the World Economic Forum's announcement of its annual list of breakthrough technologies. These technologies, including flexible...
- The World Economic Forum has releases its annual list of breakthrough technologies poised for global impact
- The list of the important innovations includes flexible batteries, generative AI, and sustainable aviation fuel
Science
New WEF report reveals technologies to impact world in the next five years
TIANJIN, CHINA - The World Economic Forum on Tuesday announced its annual list of breakthrough technologies with the greatest potential...
- The new technologies include flexible batteries, generative AI and sustainable aviation fuel.
- These would be disruptive, attractive to investors, researchers, and achieve considerable scale within five years.
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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
Company News
In Davos, AI excitement persists but fears over managing risks
World Economic Forum
Latest News
Middle East needs strong Saudi Arabia, says kingdom’s finance minister
World Economic Forum
Dubai Chambers, DP World partner to lure global investment to the emirate
Dubai, UAE--Dubai Chambers has signed a memorandum of understanding (MoU) with DP World to enable the chambers to leverage DP...
Economy
Qatar Central Bank head calls for enhanced GCC action to tackle challenges
Doha, Qatar--Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani has called for strengthening joint action among...
Economy
Over 105m people visit Dubai Mall in 2023
DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...
Business
Most Read
Economy
Ireland wants to be a gateway for UAE, Gulf states to EU market: Irish minister
Abu Dhabi, UAE--Ireland wants to become a gateway for the UAE and other Gulf states to the European Union (EU)...
- The minister said that Ireland wants the UAE, and indeed others in this region like Saudi Arabia and Kuwait, to see it as a gateway into the EU market
- Close to16,000 Irish citizens work in the GCC, mostly in the UAE, across various sectors such as education, healthcare, business, banking and hospitality
Economy
China sets ambitious 5 percent growth target for 2024
Premier Li Qiang formally announced the growth objective, alongside the overall budget and key government policies for 2024, at China's...
- Last year's NPC saw President Xi Jinping anointed for a historic third term, cementing his rule as the most powerful Chinese leader since Mao Zedong
- This year's gathering will focus on a litany of economic and security challenges, including a protracted property sector crisis, and soaring youth unemployment
Opinion
Vision 2030 empowers women in Saudi legal sector
"The progressive momentum generated in the past decade fills us with positivity and reassurance in the Kingdom, where we have...
- Saudi Arabia's Vision 2030 accelerates female participation in the workforce, surpassing targets ahead of schedule.
- The Kingdom boasts milestones like its first female international referee, astronaut, and train drivers , among others.