US Fed chair signals no rush for rate cuts despite Trump pressure
The Fed has a duty to prevent a one-time spike in prices from becoming an "ongoing inflation problem," said Federal...
Economy
Trade war worsens foreign investment outlook: UNCTAD World Investment Report
Presenting the annual report at a press conference, UNCTAD chief Rebeca Grynspan said it contained a "clear and urgent" message...
Economy
Syrians abandon babies at mosques, under trees as war grinds on
"Only a few cases of child abandonment" were officially documented before the war broke out in 2011, according to the...
- Health department official said that 53 abandoned newborn babies had been registered in government-controlled areas in the first 10 months of last year
- Syrian President this year issued a decree creating dedicated facilities for the children, who would be automatically registered as Arab, Syrian and Muslim
Business
Iran seeks economic integration and multilateralism: Raisi
Tehran, Iran-- Iran seeks economic integration and multilateralism in international relations, according to the Islamic Republic's President Ebrahim Raisi. The...
- The president told reporters at the airport in Tehran that Iran's relationship with different countries is based on regionalism and neighborhood policy
- The Islamic Republic, according to the president, signed agreements with Indonesia in energy and economic fields, in addition to signing other MoUs
Business
Abu Dhabi Housing Authority to build new homes worth US$1.90bn
Abu Dhabi, UAE--Abu Dhabi Housing Authority has joined hands with Q Holding to build new housing projects in West Baniyas...
- Nearly 1,500 residential villas will build in the West Baniyas, besides other infrastructure such as gardens, public facilities, services, mosque and commercial buildings
- The other housing project in Al Samha will see the construction of 242 residential villas, mosques and retail units and would cost close to US200 million
‘Qatar’s economy is shining example of reforms’
The contribution of the non-oil sector to the growth of the economy is the strongest in the Gulf region, which...
- Qatar pledges 20 percent of its Special Drawing Rights to support countries with low growth and climate risks, says IMF Managing Director Kristalina Georgieva in Doha
- Despite global economic slowdown predicted for 2023, Qatar's diversified economy is expected to outperform global growth rates, she adds during Qatar Economic Forum
Business
Dubai records realty deals worth $1.38 billion in two days
Dubai, UAE -- Dubai's real estate market recorded real estate deals worth AED 5.1 billion ($1.38 billion) on Tuesday and...
- A total of 500 sales transactions worth AED1.21 billion were recorded on Wednesday, in addition to 103 mortgage deals totaling AED267.86 million.
- On Tuesday, the market recorded 612 sales transactions worth AED2.51 billion, in addition to 126 mortgage deals of AED 613.53 million.
Economy
US debt ceiling talks ‘unnecessary’ for global economy: IMF chief
International markets have been unnerved by the battle between US President Joe Biden and opposition Republicans on US borrowing limits...
- But she added that the Washington drama was "unnecessary for a world economy that is in such high uncertainty".
- Kristalina Georgieva told the Qatar Economic Forum that central banks must keep interest rates high to tame inflation but there should be improvement in 2024.
Business
Tadawul-listed firms report 22% drop in first quarter net profit
Dubai, UAE -- A 22 percent drop in net profit was reported by Tadawul-listed companies in the first quarter of...
- Argaam reported the decline in net profit was due to a drop in Saudi Aramco’s first quarter earnings by more than 17 percent, as well as lower earnings of petrochemical companies.Â
- The first-quarter results included SAR 5.87 billion one-off gains generated by Kingdom Holding Company (KHC) from selling half of its stake in Four Seasons Holding.
Business
SEDD designates specific areas to run auto spare parts business
Sharjah, UAE--In order to create a competitive and diversified economy, the Sharjah Economic Development Department (SEDD) has reorganized many economic...
- The department said that trading in used auto spare parts in the emirate will be "reorganized" by amending the geographical areas permitted to practice the business
- The reorganization is part of the strategey to promote economic growth and consolidating the emirate's posiiton as the key global trade and economic center
Geostrategy
Israel passes budget with controversial cash for ultra-Orthodox
The Prime Minister Benjamin Netanyahu spent recent weeks cutting deals with his ultra-Orthodox and extreme-right coalition partners, to meet a...
- Thousands of Israelis marched through Jerusalem on Tuesday to protest the government's plans to hand more cash to the ultra-Orthodox minority
- The 2023-2024 budget of Israel was ultimately passed early Wednesday with the support of all 64 coalition lawmakers in the 120-seat parliament
Business
Al Dahra Group signs supply agreement with Estonian firm Golden Fields
Riga, Latvia--Al Dahra Group has signed a supply agreement with Golden Fields, an Estonian agriculture company specializing in the production...
- Under the terms of the deal Al Dahra Group will be supplied forage commodities by Golden Fields through its agreements in Estonia, Lithuania, Latvia and Finland
- Al Dahra Group CEO Arnoud van den Berg said that owing to the partnership with Golden Fields, a promising new page has been turned for agriculture in the Baltic region
US Fed chair signals no rush for rate cuts despite Trump pressure
The Fed has a duty to prevent a one-time spike in prices from becoming an "ongoing inflation problem," said Federal...
Economy
Company News
Latest News
Construction in China-Saudi Arabia ethylene project begins
FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...
Business
Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...
Business
SCC committee discusses issues related to Sharjah’s economy and tourism
SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...
Business
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Interview
WEF24: Pragmatic actions to help in carbon neutrality
Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact...
- Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact Partners tells TRENDS.
- He stresses the need for concrete action, emphasizing the importance of pragmatic strategies and sustained investment to overcome the challenges of climate finance.
Geostrategy
Qatar minister urges Gaza ceasefire to end Red Sea insecurity
The Houthis, who control vast swathes of Yemen, have said the attacks, beginning in November, have targeted vessels linked to...
- Many companies have chosen to divert their vessels to avoid the Red Sea
- US and UK strikes on Houthi targets have failed to halt the rebel attacks
Economy
China maintains basic balance in international payments in 2023
Beijing, China--China maintained a basic balance in its international payments last year, with its current account surplus amounting to US$264.2...
- China's foreign-exchange regulator said the ratio of the current account surplus to gross domestic product was 1.5 percent last year
- The administration's data shows the surplus under trade in goods came in at $608bn last year, the second highest level in the history