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
Wealthy Asians consider shifting assets from Dubai amid Iran war fears: report
Some wealthy Asian investors are considering moving assets out of Dubai following Iranian missile and drone attacks on the city,...
Economy
Science
IBM claims ‘real world’ edge in quantum computing race
San Francisco, United States -- Technology veteran IBM on Tuesday laid out a plan to have a "practical" quantum computer...
- Current quantum computers are still experimental and face significant challenges, including high error rates.
- Companies like IBM, Google, and others are working to build more stable and scalable quantum systems.
Economy
World Bank cuts growth forecast on trade tumult, warns of ‘deep’ harm
The bank lowered its projection for global GDP growth to 2.3 percent in its latest economic prospects report, down from...
- "That's the weakest performance in 17 years, outside of outright global recessions," said World Bank Group chief economist Indermit Gill.
- By 2027, the World Bank expects global GDP growth to average 2.5 percent in the 2020s, which would be the slowest rate in any decade since the 1960s.
Economy
From Iran Talks to Dubai Metro: Key Middle East Developments You Need to Know on June 10, 2025
Key developments across the Middle East today highlight regional diplomatic, economic and humanitarian trends
- Sheikh Mohammed launches 30km expansion featuring world's highest metro station (74m) to serve growing population
- After 12-year exclusion, Damascus prepares to reconnect to global banking network to formalize trade
Economy
Saudi Arabia’s real GDP grows by 3.4 percent in Q1 mainly on non-oil activities
Riyadh, Saudi Arabia -- Saudi Arabia’s first quarter real Gross Domestic Product (GDP) grew by 3.4 percent year-on-year, according to...
- Sectors such as wholesale and retail trade, restaurants, and hotels led the way, recording an impressive 8.4% annual growth, reflecting a rebound in consumer demand and tourism.r
- On a quarterly basis, seasonally adjusted real GDP rose by 1.1 percent compared to Q4 2024, signaling continued economic momentum into the year.
Economy
US, China seek to extend trade truce with London talks
After a round of talks in Geneva last month, the United States and China will sit down at the negotiating...
- US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will lead the US delegation
- Chinese Vice Premier He Lifeng - who led Beijing's negotiating team in Geneva - will also lead the team in London, the foreign ministry announced at the weekend
Economy
Key MENA trends: M&A surge to five-year high, Saudi port activity rises in May
Qatar's foreign reserves rise 3.6 percent year-on-year despite a dip in bonds and treasury holdings, Iraq releases Australian and Egyptian...
- Egypt and Turkey continue their coordination on ceasefire efforts and humanitarian aid, as diplomatic momentum struggles against on-ground escalation.
- The ICRC has warned that the healthcare system is on the brink of collapse, with medical infrastructure under increasing strain from ongoing hostilities.
Economy
Trump says Musk has ‘lost his mind’ as feud fallout mounts
Washington, United States - US President Donald Trump said Friday that Elon Musk had "lost his mind" but insisted he...
- The blistering public break-up between the world's richest person and the world's most powerful is fraught with political and economic risks all round
- Trump had scrapped the idea of a call with Musk and was even thinking of ditching the red Tesla he bought at the height of their bromance, White House officials told AFP
Economy
MENA Outlook: Diversification, AI, and economic integration take centre stage
As the region pivots toward a post-oil future, recent developments across the Middle East and North Africa suggest an accelerating...
- Saudi government announced a $5.6 billion fertilizer JV between SABIC and Aramco, while also adopting new green building codes to reduce emissions
- From launching the world’s first AI-powered media council to streamlining family business, Abu Dhabi and Dubai are reinventing the regulatory ecosystem to attract global capital
Economy
IMF upgrades Saudi real GDP growth forecast to 6% in 2025, up from
Riyadh, Saudi Arabia -- The International Monetary Fund (IMF) has revised upwards its forecast for Saudi Arabia's economic growth to...
- This adjustment from earlier estimates reflects the impact of extended oil production cuts and a slower-than-expected rebound in oil output.
- The IMF anticipates that inflation will remain contained, with an average annual rate holding steady at 2.1 percent in 2025 and easing slightly to 2 percent the following year.
Economy
World Economic Forum unveils framework highlighting transformative technology convergences across key industries
Agentic AI, spatial intelligence and robotic advancements in manipulation and adaptive control are enabling autonomous systems to make intelligent decisions...
- The 3C framework – combination, convergence and compounding – identifies standout technology combinations such as cognitive robots and digital twin ecosystems
- The framework can help industry leaders drive systemic change across infrastructure, energy, transportation and healthcare by investing in ecosystem readiness
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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
Company News
Latest News
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...
Economy
How China leveraged its rare earths dominance over the US in tariff war
China's stranglehold on the rare earths industry -- from natural reserves and mining through processing and innovation -- is the...
Economy
Fake AI videos have a new generation loving 1980s life
New York, United States - "The 1980s are calling," a teenager with a throwback hairstyle tells viewers as "Everybody Wants...
Arts & Culture
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Economy
China’s consumer prices rose in Oct, reversing stagnation
Beijing has struggled to maintain a strong economic recovery from the pandemic, as it fights a debt crisis in its...
- The consumer price index, a key measure of inflation, rose 0.2 percent year-on-year last month, according to the National Bureau of Statistics (NBS).
- Consumer prices were stagnant in July followed by two months of decline.
Economy
UAE company inks $22 mn deal for stake in Latakia container terminal
Dubai, United Arab Emirates - AD Ports Group of the United Arab Emirates (UAE) signed a $22 million agreement Thursday...
- Abu Dhabi-based firm inked the deal with French shipping giant CMA CGM for a 20 percentage stake in the Latakia International Container Terminal, AD Ports Group said in a statement
- The Syrian government signed a 30-year contract in May with the French firm to run the Mediterranean port and modernise it, including developing the infrastructure
Economy
Qatari firm to invest $29.7 billion in Egypt coastal development
The project in the Alam al-Roum area, in Egypt's Matrouh Governorate, will span "4,900 acres... extending across a coastline of...
- Egypt, mired in its worst economic crisis in decades, is betting big on its 3,000 kilometres (1,800 miles) of coastline as a revenue source
- In 2024 the UAE said it would inject $35 billion in foreign direct investment into Egypt, including $24 billion that would go to developing the Ras al-Hikma area west of Alexandria