US, China to publish details of ‘substantial’ trade talks in Geneva
The US and China will Monday give details of "substantial progress" touted by Washington on trade talks aimed at ending...
Economy
US and China prepare for trade talks as Trump floats tariff cut
Senior US and Chinese officials are in Switzerland this weekend for talks aimed at de-escalating a burgeoning trade war sparked...
Economy
Economy
Tech impact: New jobs emerge as automation prevails
As future job market will be affected by AI, digitization and economic developments, big data analytics, management technologies, and cybersecurity...
- As future job market will be affected by AI, digitization and economic developments, big data analytics, management technologies, and cybersecurity will drive employment growth
- Slower economic growth, supply shortages, and inflation pose greater threats to employment prospects, says WEF report while highlighting the importance of investing in green firms
Business
Pfizer Q1 profit at $5.5bn
Profit fell on declining COVID-19 vaccine revenues.
- Shares of the pharma giant edged higher as Pfizer CEO touted an "unprecedented" number of new launches.
- Revenues fell 29 percent to $18.3 billion following a $10 billion drop from COVID-19 vaccine Comirnaty.
Economy
Federal Reserve begins rate talks that could hearld end of hikes
With the Federal Open Market Committee (FOMC) widely expected to raise its base rate a quarter-point on Wednesday, analysts will...
- In March, the Fed held off a larger rate hike, instead opting for a quarter-point rise amid a banking crisis unleashed by SVB's collapse.
- Like the Fed's previous rate decision, the meeting on May 2 and 3 takes place shortly after one of the largest bank failures in American history.
Economy
DIFC, PwC launch program to boost tax settlement knowledge
DUBAI, UAE- DIFC Academy announced a collaboration with PwC’s Academy to offer a globally recognized diploma program aimed at upskilling...
- Under the deal, DIFC Academy will offer the UAE Corporate Tax Diploma Program in collaboration with PwC’s Academy.
- The program was announced in preparation for the UAE Federal Corporate Tax Law, which comes into effect June 1, 2023.
Economy
Eurozone banks toughen lending criteria, says ECB
FRANKFURT, GERMANY - Eurozone banks tightened lending criteria in the first quarter at their fastest pace since the 2011 sovereign debt...
- A net 27 percent of banks reported a tightening of credit standards for loans to companies, meaning it is harder for the enterprises to borrow.
- Demand for housing loans declined, while there was a smaller decrease in consumer credit and other lending to households.
Economy
Eurozone inflation rises to 7% in April after five months fall
Consumer prices edged up from 6.9 percent in March, which could further encourage the European Central Bank (ECB) to raise...
- Food and drink prices keep climbing, putting pressure on European households, but the pace of the increase slowed to 13.6 percent in April.
- The eurozone's core inflation, which excludes volatile food and energy prices, fell slightly to 5.6 percent in March from 5.7 percent a month earlier.
Geostrategy
US exhorts Lebanese parliament to elect new president
Former president Michel Aoun's term expired in October, with no successor lined up. Countries including France, the United States and...
- A caretaker cabinet with limited powers has been at the helm since May last year after legislative polls gave no side a clear majority
- Numerous parliamentary votes have been held since October 2022, but no candidate has garnered enough support to succeed Michel Aoun
Business
Egypt signs transport investment deal with Japan worth US$734mn
Cairo, Egypt--Egypt has signed its biggest investment package with Japan aimed at supporting the North African country's transportation development plan....
- Egypt will use the money to finance expansion of Cairo's metro, a 30-km stretch of land that would link Egypt’s 6th of October city to the Giza plateau
- Japan's investments in Egypt have gone up by 99 percent during 2021-2022, touching $73.7 million as against $37.1 million in the previous year
Business
Dubai hosts World Free Zones Organization’s annual AICE event
Dubai, UAE-- The World Free Zones Organisation’s (World FZO) ninth Annual International Conference & Exhibition (AICE) will begun in Dubai...
- The two-day event will debate challenges facing global trade and the impact of the Covid-19 pandemic on the global economy
- Nearly 600 participants specializing in trade, logistics will come from more than 70 countries to take part in the event
Economy
SCCA’s revised arbitration rules come into effect in Saudi Arabia
Riyadh, Saudi Arabia-- The Saudi Center for Commercial Arbitration (SCCA) has published the 2023 revised SCCA arbitration rules with effect...
- With the publication of revised rules, SCCA court will become fully functional and replace the existing SCCA Committee for Administrative Decisions
- According to SCCA, the new rules are in line with international standards in the arbitration industry followed by renowned institutions across the world
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, China to publish details of ‘substantial’ trade talks in Geneva
The US and China will Monday give details of "substantial progress" touted by Washington on trade talks aimed at ending...
Economy
Company News
Latest News
25,647 new economic licenses issued in Abu Dhabi in 2023, says ADDED report
ABU DHABI, UAE - The Abu Dhabi's “Business Activity Report” for the year 2023, issued by the Abu Dhabi Department...
Business
Saudi Aramco halts plan to raise production capacity
Tuesday's announcement was not expected to have an immediate effect on production or exports. After a series of oil supply...
Business
44% of Saudis are young, making up 78% of the labor pool
Riyadh, Saudi Arabia - Saudi Arabia on Monday launched "Youth Development Strategy" to help its youth to play a critical...
Economy
Most Read
Economy
SMEs drive economic innovation and growth in UAE
SMEs are contributing 63.5% to the UAE's non-oil GDP and are at the forefront of innovation and growth, Ayham Gorani,...
- SMEs are contributing 63.5% to the UAE's non-oil GDP and are at the forefront of innovation and growth, Ayham Gorani, CEO of Pemo, tells TRENDS.
- Gorani highlights the importance of a supportive ecosystem and government initiatives in nurturing this vital sector across the Gulf country.
Economy
Total market value of Saudi stocks hits $2.97 trillion
Riyadh, Saudi Arabia - The total market value of the primary Saudi stock market, represented by the All Tadawul Share...
- This valuation encompasses shares from 231 listed companies and funds currently actively traded in the market
- The total shares listed on the main stock market is reported to be 336.56 billion, with free shares accounting for 81.32 billion
Interview
WEF24: Creative leap diversifies Nigerian economy
Nigeria is diversifying its economy, moving beyond oil to embrace the blue and digital economies, Minister of Art, Culture, and...
- Nigeria is diversifying its economy, moving beyond oil to embrace the blue and digital economies, Minister of Art, Culture, and Creative Economy Hannatu Musa Musawa tells TRENDS.
- The African country is leading initiatives for global recognition, with Destination 2030 showcasing the country's rich cultural heritage and creative prowess, adds Musawa.