Microsoft valuation surges above $4 trillion as AI lifts stocks
Shares of Microsoft vaulted 5.3 percent after it reported $27.2 billion in quarterly profits as it touted massive investments in...
Business
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...
Economy
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.
Economy
Saudi Arabia’s imports from GCC states drop 15% to $1.49bn in Apr
Riyadh, Saudi Arabia -- Saudi Arabia’s imports from Gulf Cooperation Council countries fell 15 percent year-on-year to SAR 5.6 billion...
- Compared with March 2023, the Kingdom's imports from GCC dropped by 21 percent, or SAR 1.52 million.
- The Kingdom's merchandise imports rose 1 percent year-on-year to almost SAR 57.9 billion in April.
Economy
Central Bank of Bahrain treasury bills oversubscribed by 109%
Manama, Bahrain - This week’s BD 70 million issue of Treasury Bills of Government of Bahrain have been oversubscribed by...
- The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain (CBB), on behalf of the Government of Bahrain
- The weighted average rate of interest is 6.15 percent compared to 6.11 percent in the previous issue on June 21
Economy
Most markets rise but traders fret interest rate hikes, Russia situation
The more positive environment came as concerns over Russia subsided following an aborted uprising, though developments in the nuclear-armed country...
- With the events in eastern Europe a little less worrying for now, focus has returned to the battle against surging inflation, which has dogged global markets this year.
- Fed's warning last week that rates would likely need to go higher dealt a blow to hopes that officials were at the end of close to completing their tightening cycle.
Economy
Availability of government sukuks boosts investment options for Islamic banks: Fitch
Doha, Qatar--The increasing availability of government sukuk and Islamic liquidity management tools by the Qatar Central Bank supports liquidity management...
- The ratings agency expects the market share to increase overall in 2023 because of high public demand and strong retail networks
- Fitch believes the launch of treasury sukuk in 2022 is a structural improvement as it adds to Islamic banks' short-term liquidity tools
Microsoft valuation surges above $4 trillion as AI lifts stocks
Shares of Microsoft vaulted 5.3 percent after it reported $27.2 billion in quarterly profits as it touted massive investments in...
Business
Company News
Latest News
Jafza reports 28% year-on-year growth in 2023 of new Indian companies
DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the...
Business
Residential demand buoyed Qatar’s property sector in 2023
Doha, Qatar - Residential demand continued to buoy the country's property sector in Q4 2023, hapondo, a homegrown property portal,...
Economy
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
Most Read
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...
- The fourth quarter 2023 results and the annual results for the same year have been reached at by using the new methodology.
- Saudi Arabia is the first country in the Gulf and Arab regions, and among the first G20 countries, to implement the chain-linking methodology.
Economy
A greener globe requires a greener industry, says Chinese industry leader
Beijing, China-- A greener globe requires a greener energy industry, which could definitely be represented by new quality productive forces...
- Zhong said renewable energy, wind power, and green hydrogen production could achieve zero carbon dioxide emissions from the source
- The annual growth rate, as per the International Renewable Energy Agency, of global hydrogen trade is expected to reach 8 percent by 2050
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.