Next wave of global competitive advantage lies in tech combinations: WEF
Eight technology domains, including AI, robotics, engineering biology and advanced materials are no longer advancing in isolation.
Geostrategy
Financial frauds cost global economy over $442bn in 2025: INTERPOL
AI-enhanced fraud is 4.5 times more profitable than traditional methods. “Agentic AI” systems can autonomously plan and execute complete fraud...
Geostrategy
Business
Cross-border payments and financial inclusion drive stablecoin popularity
London, United Kingdom -- Stablecoins -- a form of cryptocurrency backed by traditional assets -- are gaining traction, with the...
- Stablecoins play a key role in crypto markets, enabling users to trade digital assets without relying on traditional banks, instead using blockchain.
- Unlike volatile cryptocurrencies like bitcoin, stablecoins track the value of traditional assets -- such as the US dollar or gold -- enabling greater stability.
Economy
Global oil demand to dip in 2030, first drop since Covid: IEA
IEA cited sluggish economic growth, global trade tensions, the rise of electric cars and the shift away from crude to...
- Total demand is forecast to reach 105.5 million bpd in 2030 after peaking at 105.6 million bpd in 2029.
- Oil demand dropped dramatically in 2020, when countries locked down and shut their borders during the Covid pandemic, falling to 91.7 million bpd.
Economy
Oil prices jump after Trump’s warning, stocks extend gains
Oil prices rallied Tuesday after Donald Trump urged Tehran residents to evacuate, stoking fresh fears of all-out war as Israel...
- Hopes that the deadly conflict can be contained helped most equities rise, while the US president's earlier claim that the Iran wanted to make a nuclear deal also eased fears
- After Friday's surge sparked by Israel's attacks on its regional foe, crude ticked more than one percent lower Monday as traders bet that the battle would not spread
Business
Oil prices drop, stocks climb as Iran-Israel war fears ease
Israel's surprise strike against Iranian military and nuclear sites on Friday -- killing top commanders and scientists -- sent crude prices...
- However, concerns over the conflict spreading appeared to have receded, with both main oil contracts retreating 3.7 percent.
- Analysts said the recent decision by the OPEC+ group of crude producing nations, led by Saudi Arabia and Russia, to raise output again in July also played a role.
Economy
MENA Brief – June 16: Netanyahu eyes Gaza breakthrough, Iran rejects talks, Trump at G7, UAE oil giant bids big
Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal...
- In major energy news, Abu Dhabi’s state-owned oil company has launched an $18.7 billion takeover bid for Australia’s Santos, offering a 28% premium
- The UAE’s economic momentum remains strong: its GDP grew 4% in 2024 to AED1.77 trillion, driven by a 5% rise in non-oil sectors
Economy
Boeing lowers 2044 global air fleet outlook amid supply chain woes
New York, United States -- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most...
- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most built over the next 20 years, according to a Boeing forecast released Saturday.
- The global fleet will nearly double to 49,600, a bit below Boeing's prior annual outlook, the company said ahead of the giant Paris Air Show beginning Monday.
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.
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Next wave of global competitive advantage lies in tech combinations: WEF
Eight technology domains, including AI, robotics, engineering biology and advanced materials are no longer advancing in isolation.
Geostrategy
Company News
Latest News
“New Suez Canal on rails”: Egypt high-speed trains to connect Red Sea, Mediterranean
Workers have started laying tracks in the desert east of Cairo for Egypt's first high-speed train, which will link the...
Economy
UAE builds resilient economy outpacing skeptics and shocks
From the 1980s onward, the federal government and individual emirates launched broader diversification and liberalization programs to reduce reliance on...
Economy
US launches pact for AI supply chains with key Asia-Pacific allies to face China
The United States signed an agreement on the supply chains with key Asia-Pacific allies concerned about China's growing clout --...
Economy
Most Read
Economy
Qatar’s economic momentum accelerates as diversification gains global recognition
However, Qatar faces downside risks from a deeper global economic slowdown that could weaken energy demand and LNG prices amid...
- World Bank, Standard Chartered, and Moody’s highlight Qatar’s resilience, strong GDP outlook, and rising non-hydrocarbon strength
- Backed by digital transformation, AI investment, and stable credit ratings, Qatar’s non-oil sectors lead regional growth
Economy
Saudi powers forward with deficit spending to fund diversification of its oil-dependent economy
Saudi Arabia greenlit its 2026 budget Tuesday, projecting a deficit of 165 billion riyals ($44 billion) as the kingdom presses...
- The Arab world's largest economy is overseeing a major push to slash its dependence on oil revenues, with officials pouring billions into projects to attract investment and tourism
- The budget figures will be keenly watched by energy industry experts, with the hopes of gleaning insights into where Saudi Arabia expects oil revenues to head in the near future
Economy
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...
- As S&P upgrades Kuwait’s credit rating and non-oil sectors surge, the country’s 2025 policy strategy proves that collaboration can be a catalyst for long-term sustainable growth
- Major fiscal reforms, new regional agreements, and a booming non-oil economy position Kuwait for stronger investment flows and renewed global confidence