China factory output beats forecasts, weathering tariffs
Beijing, China - Factory output in China grew at a faster rate than expected last month, official data showed Monday,...
Economy
US, China to publish details of ‘substantial’ trade talks in Geneva
The US and China will Monday give details of "substantial progress" touted by Washington on trade talks aimed at ending...
Economy
Geostrategy
UK Business Secretary to visit Gulf countries to boost trade ties
LONDON, UK - British Business and Trade Secretary Kemi Badenoch will hold talks for a modern, comprehensive trade deal as...
- British Business and Trade Secretary said, "We already have a strong trade and investment relationship with the Gulf nations."
- She said, "The GCC represents an enormous opportunity for UK firms, whether it’s selling brilliant British food and drink products."
Geostrategy
SCCI discusses trade with Guatemalan, Indonesian delegations
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has discussed strengthening trade and economic ties with diplomatic...
- The discussions focused on amplifying bilateral relations in industry, agriculture, food security, livestock and broadening trade exchanges.
- SCCI invited Indonesian businessmen to visit Sharjah to see the progress on existing projects and experience the facilities the emirate offers.
Geostrategy
Iran, Indonesia sign trade agreement during Raisi visit
Indonesia and Iran signed a trade agreement in Jakarta where President Joko Widodo hosted his Iranian counterpart Ebrahim Raisi. Tehran...
- Under the pact, Iran will provide easier access for Indonesian exports including vegetable oil, cocoa, coffee and tobacco.
- Jakarta would lower tariffs on Iranian exports to Indonesia, including oil and its derivative products, minerals, chemicals and iron.
Economy
Saudi energy minister warns oil short-sellers ahead of OPEC+ meet
Speaking on the sidelines of the Qatar Economic Forum, Saudi Arabia's Minister of Energy Prince Salman said OPEC+ pursued three...
- “I keep advising them that they will be ouching — they did ouch in April,” Prince Abdulaziz bin Salman said. “I would just tell them: Watch out!”
- Prince Salman said that a future source of energy cannot be tackled amid foggy vision. He had called OPEC+ to stick to its Oct 2022 agreement.
Economy
Biden-McCarthy ‘productive’ debt ceiling talks fail to uplift markets
After their latest get-together on Monday, the Republican Speaker said: "I felt we had a productive discussion. We don't have...
- With just weeks to go before the United States runs out of cash, the standoff has become the key topic on trading floors
- Months of negotiations have failed to break the deadlock and lift the borrowing limit from the current $31.8 trillion
Economy
CBUAE ‘removes’ board of directors of insurance company
Abu Dhabi, UAE--The Central Bank of the UAE (CBUAE) has removed the board of directors of an insurance company operating...
- The bank did not divulge details on the identity of the insurance company or what led to the removal of the board of directors
- It only added that "this administrative sanction is imposed in accordance with Article 41 of the Federal Law No. 6 of 2007"
Economy
Oil, non-oil sectors may hurt UAE’s growth prospects
OPEC-agreed oil output cuts, non-oil sector slowdown due to higher rates, and weaker external demand may act as potential setbacks...
- OPEC-agreed oil output cuts, non-oil sector slowdown due to higher interest rates, and weaker external demand may act as potential setbacks for UAE's economy this year
- The UAE's real GDP growth rate might drop to 3 percent in 2023, a sharp decrease from the robust 7.6 percent in 2022, predicts the latest forecast by GlobalData
Economy
Iran, Indonesia to sign preferential trade agreement to boost trade
Tehran, Iran-- Less than a year after signing a preferential trade agreement (PTA) with the UAE, Indonesia will sign a...
- According to Indonesia's trade ministry, the treaty will lead to improvement in trade ties and scale up the trade-transaction value between the two countries
- As per the PTA, products such as vegetable oil, cocoa, coffee, tea, spices, fruits, vegetables, and fish from Indonesia that are popular in Iran will be given preference
Economy
UAE institutional investors should focus on transition investment: NYUAD report
Abu Dhabi, UAE-- In order to advance the United Nations Social Development Goals, the UAE institutional investors should concentrate on...
- The participants in the workshop noted that transition investment can make a significant difference to the global economy and the MENA region
- The event drew a wide array of people like asset managers, researchers and policymakers to share knowledge and best practices on unlocking large-scale investments
Economy
UAE and Malaysia agree to boost cooperation in clean energy
Kuala Lumpur, Malaysia-- The UAE and Malaysia are looking to bolster cooperation in the field of energy, in addition to...
- The two ministers explored collaboration on investment and development in the energy sector and ways to boost capacity of the two countries in the field of sustainable development
- The visiting minister Al Mazrouei noted that the UAE is seeking to form new partnerships with allies in order to shape a better future for the coming generations
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China factory output beats forecasts, weathering tariffs
Beijing, China - Factory output in China grew at a faster rate than expected last month, official data showed Monday,...
Economy
Company News
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ADCB, EIH sign agreement
Business
Arab countries public expenditure climbs to US$957.5bn in 2022: AMF
Abu Dhabi, UAE--The total public expenditure of Arab countries combined jumped by 9.8% to $957.5 billion in 2022, compared to...
Economy
Qatar-Turkey business forum sparks new joint ventures
Emphasizing the importance of holding meetings and mutual visits, Sheikh Khalifa bin Jassim bin Mohamed Al-Thani notes this would bolster...
Economy
SMEs in UAE confront expense management challenges
Digital solutions, including innovative expense management platforms, may help in transforming the administrative landscape for SMEs, a latest report points...
Economy
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Business
Jordan, Tunisia to enhance trade, investment relations
AMMAN, JORDAN - The Chairman of the Amman Chamber of Commerce Khalil Haj Tawfiq has called on Jordanian and Tunisian...
- The trade between the two nations has seen significant growth over the past two years, with a notable balance in exports and imports.
- Trade volume over the last 10 months reached US$30 million, equally distributed between Jordan and Tunisia.
WEF24: AI needs to unite public and private sector
There is a need to align AI goals between public and private sectors to balance cost reduction with job creation...
- There is a need to align AI goals between public and private sectors to balance cost reduction with job creation and enhancement, Dr. Arturo Bris of IMD tells TRENDS.
- He criticizes European AI regulations for favoring corporate interests, and highlights the UAE, Singapore, Switzerland, the UK, the US, and China as AI development leaders.
Moody’s downgrades Israel’s credit rating due to Hamas conflict
Fitch -- which is the last of the big three US ratings agencies -- placed Israel on negative watch over...
- In a statement, Moody's said it had done so after assessing that "the ongoing military conflict with Hamas, its aftermath and wider consequences."
- Moody's also lowered its outlook for Israel's debt to "negative" due to "the risk of an escalation" with the far more powerful Lebanese group Hezbollah