OpenAI limits release of new model after US government request
Dubai, UAE --Â ChatGPT developer OpenAI is restricting access to its latest artificial intelligence (AI) model at the request of...
Business
Middle East conflict slows global growth outlook, World Bank says
Most economies saw forecasts downgraded as rising energy costs, inflation and borrowing expenses create fresh challenges for growth and development...
Geostrategy
Economy
Trump says EU not offering ‘fair deal’ on trade
US President Donald Trump said Tuesday that the European Union had yet to offer a "fair deal" on trade, as...
- "We're talking but I don't feel that they're offering a fair deal yet," Trump said of EU speaking to reporters on board Air Force One before returning to the US from G7 meet US
- Shortly after taking office, Trump upended the global economic order by accusing the United States' trading partners of unfair practices and he announced huge global tariffs
Business
Cross-border payments and financial inclusion drive stablecoin popularity
London, United Kingdom -- Stablecoins -- a form of cryptocurrency backed by traditional assets -- are gaining traction, with the...
- Stablecoins play a key role in crypto markets, enabling users to trade digital assets without relying on traditional banks, instead using blockchain.
- Unlike volatile cryptocurrencies like bitcoin, stablecoins track the value of traditional assets -- such as the US dollar or gold -- enabling greater stability.
Economy
Global oil demand to dip in 2030, first drop since Covid: IEA
IEA cited sluggish economic growth, global trade tensions, the rise of electric cars and the shift away from crude to...
- Total demand is forecast to reach 105.5 million bpd in 2030 after peaking at 105.6 million bpd in 2029.
- Oil demand dropped dramatically in 2020, when countries locked down and shut their borders during the Covid pandemic, falling to 91.7 million bpd.
Economy
Oil prices jump after Trump’s warning, stocks extend gains
Oil prices rallied Tuesday after Donald Trump urged Tehran residents to evacuate, stoking fresh fears of all-out war as Israel...
- Hopes that the deadly conflict can be contained helped most equities rise, while the US president's earlier claim that the Iran wanted to make a nuclear deal also eased fears
- After Friday's surge sparked by Israel's attacks on its regional foe, crude ticked more than one percent lower Monday as traders bet that the battle would not spread
Business
Oil prices drop, stocks climb as Iran-Israel war fears ease
Israel's surprise strike against Iranian military and nuclear sites on Friday -- killing top commanders and scientists -- sent crude prices...
- However, concerns over the conflict spreading appeared to have receded, with both main oil contracts retreating 3.7 percent.
- Analysts said the recent decision by the OPEC+ group of crude producing nations, led by Saudi Arabia and Russia, to raise output again in July also played a role.
Economy
MENA Brief – June 16: Netanyahu eyes Gaza breakthrough, Iran rejects talks, Trump at G7, UAE oil giant bids big
Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal...
- In major energy news, Abu Dhabi’s state-owned oil company has launched an $18.7 billion takeover bid for Australia’s Santos, offering a 28% premium
- The UAE’s economic momentum remains strong: its GDP grew 4% in 2024 to AED1.77 trillion, driven by a 5% rise in non-oil sectors
Economy
Boeing lowers 2044 global air fleet outlook amid supply chain woes
New York, United States -- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most...
- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most built over the next 20 years, according to a Boeing forecast released Saturday.
- The global fleet will nearly double to 49,600, a bit below Boeing's prior annual outlook, the company said ahead of the giant Paris Air Show beginning Monday.
Science
IBM claims ‘real world’ edge in quantum computing race
San Francisco, United States -- Technology veteran IBM on Tuesday laid out a plan to have a "practical" quantum computer...
- Current quantum computers are still experimental and face significant challenges, including high error rates.
- Companies like IBM, Google, and others are working to build more stable and scalable quantum systems.
Economy
World Bank cuts growth forecast on trade tumult, warns of ‘deep’ harm
The bank lowered its projection for global GDP growth to 2.3 percent in its latest economic prospects report, down from...
- "That's the weakest performance in 17 years, outside of outright global recessions," said World Bank Group chief economist Indermit Gill.
- By 2027, the World Bank expects global GDP growth to average 2.5 percent in the 2020s, which would be the slowest rate in any decade since the 1960s.
Economy
From Iran Talks to Dubai Metro: Key Middle East Developments You Need to Know on June 10, 2025
Key developments across the Middle East today highlight regional diplomatic, economic and humanitarian trends
- Sheikh Mohammed launches 30km expansion featuring world's highest metro station (74m) to serve growing population
- After 12-year exclusion, Damascus prepares to reconnect to global banking network to formalize trade
OpenAI limits release of new model after US government request
Dubai, UAE --Â ChatGPT developer OpenAI is restricting access to its latest artificial intelligence (AI) model at the request of...
Business
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Fake AI videos have a new generation loving 1980s life
Arts & Culture
Building the Gulf’s Knowledge Future: Education, Innovation, Talent
Florin Vasvari of London Business School says a knowledge economy requires educated local talent, global expertise and supportive regulation, tax...
Economy
Building the New Creative Engine of the Knowledge Economy: Mark Penn
Mark Penn, Chairman and CEO of Stagwell, explains how AI and global tech partnerships are reshaping marketing and the GCC’s...
Economy
The Gulf’s next currency isn’t petroleum. It’s know-how
The post-oil Gulf has the chance to redefine authenticity itself—as a deliberately trained, global hospitality culture built by people, not...
Economy
Most Read
Economy
Reason for the GCC’s prosperity is that it is willing to take risks: Tadeu Baldani Caravieri
The Gulf economies face disruptions but embrace risk to grow, says Tadeu Baldani Caravieri, founder of Prototypes for Humanity, on...
- The region’s prosperity is linked to its willingness to experiment and take calculated risks, with cities like Dubai leading in financial innovation, Caravieri tells TRENDS
- Innovation relies on strong local institutions, including government policies, and the ability to produce scalable solutions, with capital as a critical enabler, he adds
Economy
From Summit to Strategy: Qatar Builds Global Investment Hub
This year’s edition is expected to welcome more than 30,000 participants from over 120 countries, including 1,500 startups, 700 investors...
- This year’s edition is expected to welcome more than 30,000 participants from over 120 countries, including 1,500 startups, 700 investors and 600 media representatives
- For a country with a population of under three million, this represents a remarkable concentration of global innovation and capital within a compact economic landscape
Business
Oil prices gain, as equities extend record run higher
Oil prices have experienced choppy trading since the surprise US raid Saturday on Caracas that saw Venezuelan president Nicolas Maduro...
- Brushing off geopolitical concerns, some major stock markets have begun the new year with new all-time highs, having smashed records in 2025.
- Seoul rose more than one percent Tuesday to top 4,500 points for the first time, helped by another strong rally in chip giant SK hynix.