MENA faces shortfall of 111,737 construction Project Managers by 2035: PMI
The PMI report finds that MENA will require up to 330,794 construction project management professionals by 2035 under a high-growth...
Economy
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
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
Geostrategy
New WEF report reveals how tech convergence will reshape industries
Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries...
- AI is a key enabler, making many emerging tech synergies commercially viable across industries.
- Digital twins, enhanced by AI and sensors, are expanding efficiency in sectors from aerospace to healthcare.
Economy
Lebanon on bumpy road to public transport revival
Beirut, Lebanon - On Beirut's chaotic, car-choked streets, Lebanese student Fatima Fakih rides a shiny purple bus to university, one...
- Lebanon's public transport system never recovered from the devastating 1975–1990 civil war that left the country in ruins, and in the decades since, car culture has flourished
- Even before the economic crisis that began in 2019, the country was running on empty, grappling with crumbling power, water and road infrastructure
Business
Oil under $65 a boon for consumers, but a burden on producers
London, United Kingdom -- US President Donald Trump's tariffs, his call to "drill baby drill" and especially a decision by...
- The fall in oil prices has contributed to a global slowdown for inflation, while also boosting growth in countries reliant on importing crude, such as much of Europe.
- Cheaper crude "increases the level of disposable income" consumers have to be spending on "discretionary items" such as leisure and tourism, experts say.
Science
How social media can ‘trigger’ eating disorders in young people
Paris, France -- Social media can push vulnerable young people towards developing eating disorders by glorifying thinness and promoting fake,...
- Young women and girls are much more likely to suffer from illnesses such as anorexia, bulimia and binge eating disorder, though rates among men have been increasing.
- Research has shown the percentage of people worldwide who have had some kind of eating disorder during their lives rose from 3.5 percent in 2000 to 7.8 percent in 2018.
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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
MENA faces shortfall of 111,737 construction Project Managers by 2035: PMI
The PMI report finds that MENA will require up to 330,794 construction project management professionals by 2035 under a high-growth...
Economy
Company News
Latest News
MENA emerges as fast-growing global e-trading hub, UAE leads with over half-trillion dollars in volume
The Middle East and North Africa (MENA) region is rapidly becoming one of the world’s most dynamic retail e-trading markets,...
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...
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...
Economy
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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...
- Rare earths are crucial for the defence sector -- used in fighter jets, missile guidance systems and radar technology -- while also having a range of uses in everyday products
- At a high-stakes meeting in South Korea late last month, Trump and Chinese counterpart Xi Jinping agreed to a one-year truce in tariff war between the world's top two economies
Arts & Culture
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...
- The fake montage -- entirely generated using artificial intelligence -- has racked up more than 600,000 "likes" on Instagram and is part of an internet fad known as "AI nostalgia."
- The soft-focused fantasy land comes thanks to generative AI tools like OpenAI's Sora, Google's Veo or Luma AI's Ray that enable creation of strikingly realistic videos
Geostrategy
G20 summit opens in South Africa without Trump
The Johannesburg gathering is being attended by a host of world leaders including French President Emmanuel Macron, Indian Prime Minister...
- Trump is boycotting, with his government saying South Africa's priorities -- notably boosting global cooperation on trade and climate action -- run counter to US policy.
- Despite the headwinds, host South Africa was projecting optimism that it would get backing for its G20 aims to reduce economic inequalities, shrink debt for low-income countries