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...
Business
Chief Economists warn global growth under strain from trade policy shocks and AI disruption
The global economic outlook has worsened since the start of the year, as rising economic nationalism and tariff volatility fuel...
Economy
Hyatt to develop tourist destinations in Saudi Arabia
Riyadh, Saudi Arabia - Saudi Arabia’s Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding with...
- The destinations may include beach and urban hotels, as well as mountain, desert and farm retreats
- They will be developed under Hyatt’s existing trademarks, such as Alila Resorts, Park Hyatt, Grand Hyatt etc
Geostrategy
UAE discusses global economic challenges in EBRD meeting
SAMARKAND, UZBEKISTAN - The UAE, represented by the Ministry of Finance (MoF), participated in the 2023 Annual Meeting of the...
- Representatives of member states, private sector, the Board of Directors and the bank's management attended the meeting.
- The UAE said focus should be on enhancing regional, global integration, to facilitate trade, investment and closer economic cooperation.
Business
IFZA, Zoho ink deal to enhance digital use in tax returns
DUBAI, UAE- IFZA Dubai signed an agreement with Zoho to provide the members of the IFZA Free Zone community with...
- Zoho One is a cloud-based platform that enables businesses to perform all their functions on a single interface, accessible from anywhere.
- It is a part of IFZA’s commitment to support its Free Zone community in their compliance to the upcoming implementation of the Corporate Tax.
Business
Masdar on way to become one of world’s largest renewable energy firms
ABU DHABI, UAE - Abu Dhabi Future Energy Company (Masdar) has announced that it has nearly doubled its clean energy...
- Masdar announced that it has nearly doubled its clean energy capacity and CO2 displacement in just two years.
- Masdar has invested, or has committed to invest, in projects globally with a combined value of more than US$30 billion.
Geostrategy
Conflict zones in Middle East are not getting climate funds, say aid groups
DUBAI, UAE - Conflict-plagued countries in the Middle East are among the most vulnerable to climate change but are almost entirely...
- The UN ranks Iraq, recovering from decades of conflict, as one of five countries most impacted by effects of climate change including drought.
- Syria and Yemen are also at heightened risk following years of war that has battered both the country's infrastructure.
Economy
UAE to showcase business opportunities at ‘Make it in the Emirates Forum’
Abu Dhabi, UAE -- The UAE has said that the second Make it in the Emirates Forum is an open...
- The second Make it in the Emirates Forum will showcase unique opportunities for entrepreneurship
- The forum will also present financing solutions designed to attract more industrial investments
Business
Aldar raises US$500mn
The 10-year sukuk was priced with a 4.875% coupon rate.
- The issuance was oversubscribed, drawing investors from the region and beyond who placed orders to the tune of $2.3 billion
- The proceeds from the sukuk will be utilized in accordance with Aldar’s Green Finance Framework, which governs investment in sustainable projects
Economy
Iran and Russia sign customs agreement to boost trade volume
Tehran, Iran-- Continuing with their program to deepen the relationship between the two countries, Iran and Russia have signed a...
- The Iranian minister said that a new roadmap for expanding cooperation between the two countries will be achieved with the signing of the agreement
- The head of the Russian delegation said that his country's goal was to develop the transit capacity and to boost cooperation in order to increase trade
Economy
IMF lauds Jordan for monetary policy ensuring macroeconomic stability
Amman, Jordan--The International Monetary Fund (IMF) has applauded Jordan for its tight monetary and financial policies that have ensured macroeconomic...
- The IMF said that the kingdom's program supported by the fund is "still on the right track" with targets bolstered by strong performance on structural benchmarks
- It observed that the economic recovery from the COVID-19 pandemic is ongoing in Jordan, expecting GDP growth to reach about 2.6 per cent in 2023
Economy
Ukraine grain deal extended for two months: Erdogan
Erdogan made the announcement one day before it had been due to expire, scoring a diplomatic coup ahead of a...
- Erdogan said Russia had agreed not to block ships from leaving two Ukrainian harbours, expressing hope that the deal would be "beneficial for all the parties"
- NATO member Turkey has worked to maintain good ties between Russia and Ukraine, hosting two but unsuccessful rounds of peace talks between the warring sides
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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...
Business
Company News
ADCB, EIH sign agreement
Business
Latest News
Climate change parches Morocco breadbasket amid policy pitfalls
Berrechid, Morocco -- Around this time every year, Moroccan wheat farmer Abderrahim Mohafid is usually preparing for his spring harvest, but...
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
Most Read
Business
Economic forum in Amman to enhance trade ties between Iraq, Jordan
AMMAN, JORDAN - The Iraqi Business Council, in collaboration with the Jordanian and Amman Chambers of Industry, is set to...
- This event aims to enhance financial, industrial and commercial partnerships among Iraq, Jordan and other countries in the region.
- The event will spotlight the myriad of investment, commercial and industrial opportunities available in Jordan and Iraq.
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.