US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...
Business
Washington hails ‘substantive progress’ after trade talks with China
Washington expressed optimism at the end of a weekend of trade talks with China aimed to de-escalate trade tensions sparked...
Economy
Business
Mubadala continues to advance UAE’s knowledge economy: Sheikh Mansour
Abu Dhabi, UAE-- Mubadala will continue to advance the UAE's knowledge-based economy in a way that contributes to solutions for...
- Sheikh Mansour noted that the year 2022 marked twenty years since the Abu Dhabi government set up Mubadala to advance a national agenda focused on knowledge creation and innovation
- He said Mubadala's philosphy, agility and long-term investment approach have created a vast array of opportunities for Emiratis that did not exist two decades ago
Geostrategy
Sharjah Chamber to send India bound trade group on 29 May
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) announced it will be sending a trade mission to...
- The initiative aims to bolster economic and trade cooperation, foster mutual investment, and establish promising partnerships between Sharjah and India.
- The upcoming trade mission is expected to support the chamber's strategic goals of driving foreign expansion and exploring new markets.
Geostrategy
Capable of safeguarding Gulf waters in coordination with neighbors: Iran
Iran said it is capable of ensuring the safety of the vital Gulf waters in cooperation with neighboring countries. Iran...
- The Gulf waters, which carry at least a third of the world's seaborne oil, have witnessed a spate of incidents since 2018.
- Recently the commander of the US Navy's Fifth Fleet transited through the Strait of Hormuz in a guided-missile destroyer.
Economy
Biden denounces Republican demands on debt ceiling as ‘unacceptable’
President Joe Biden slammed Republican demands in negotiations to resolve the US debt ceiling standoff as "unacceptable" but said a...
- The Treasury Department says that the US government could run out of money and default on its $31 trillion debt as early as June 1.
- The default can happen if Congress, where Republicans control the House of Representatives, does not authorize more borrowing.
Economy
Art Dubai 2023 generates US$39m in economic impact, says new study
DUBAI, UAE - Art Dubai, the leading international art fair for the Middle East and Global South, on Sunday announced...
- The study showed that Art Dubai 2023 attracted a staggering 23,500 hotel nights bookings to Dubai.
- The event had the strongest-ever participation of regional and international institutional representatives.
Business
Need for big investments dark cloud over ChatGPT revolution
Building something even near the scale of what OpenAI, Microsoft or Google have on offer would require billions in investment...
- Generative AI will be even more dependent on cloud computing and tech giants, leaving the same players in the driver's seat.
- Regulators are hoping that they can keep up, and not leave the giants in charge, imposing their terms on smaller companies.
Business
Gulf oil giants turn to start-ups in bid to promote carbon capture
With little investment and few projects in operation around the world so far, the technology to capture carbon before it...
- Now major players from Aramco to the UAE's ADNOC say that is about to change, as the UAE hosts climate negotiations this year with a message of cutting emissions.
- Aramco has invested in Carbon Clean, a UK-based firm that has developed compact technology that captures carbon from industrial smokestacks.
Business
Abu Dhabi launches program for sustainable beekeeping, honey production
ABU DHABI, UAE - The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) has launched an ambitious program to develop...
- The program is based on scientific studies and research to develop the best methods and practices suitable for the UAE environment.
- A vital aspect of the program is the breeding of queen bees capable of adapting to the country's unique environment and climate.
Economy
US debt ceiling issue keeps Biden, aides busy at G7
President Joe Biden may be on the other side of the world but his political fight back home over the...
- The Group of 7 meeting in Japan is an important stage for Biden's goal of restoring US leadership among the world's democracies.
- "It is definitely a subject of interest here at the G7," National Security Advisor Jake Sullivan told reporters.
Geostrategy
G7 to focus on ‘responsible’ use of artificial intelligence
The world must assess the impact of generative artificial intelligence, G7 leaders said, announcing they will launch discussions this year...
- Text generation tools such as ChatGPT, image creators and music composed using AI have sparked delight, alarm and legal battles.
- European Parliament lawmakers this month also took a first step towards EU-wide regulation of ChatGPT and other AI systems.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...
Business
Company News
Latest News
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...
Dubai records over US$2.6bn in weeklong real estate transactions
DUBAI, UAE - A total of 3,543 real estate transactions worth over US$2.6 billion (AED9.8 billion) were conducted during the...
Business
European stocks firm as markets await US inflation data
London, United Kingdom - Europe's main stock markets steadied Friday as traders reacted to more earnings updates from top companies, while...
Business
Most Read
Economy
OPEC Fund grants US$30m loan to Uganda to build key road link
Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a...
- The construction of the road will provide better, faster and safer transport connections in the central-east region of the country
- The Islamic Development Bank (IsDB) along with the government of Uganda will co-finance the road project in the African nation
Economy
UAE real GDP to grow 5.3 percent in 2024: S&P Global
Abu Dhabi, UAE-- The UAE's real GDP will grow 5.3 percent in 2024, compared to 3.4 percent in 2023, according...
- The ratings agency said the country's high oil production and support from non-oil sectors will drive economic growth in the UAE in 2024
- The agency affirmed that several banks in the UAE achieved record profits in 2023 due to strong credit growth in a rising interest rate climate
Business
stc Group inks several pacts
The pacts were signed at the PIF’s Private Sector Forum.
- The annual Private Sector Forum brings together policymakers, key local private sector players, visionaries and industry leaders.
- The agreements signed covered a range of strategic stc Group objectives, from sustainability to digital transformation.