ADNOC expands its STEM Education Programme to empower UAE students in AI
Abu Dhabi, UAE – ADNOC has expanded its Science, Technology, Engineering and Mathematics (STEM) education programme to empower UAE students...
OPEC+ expected to open taps more despite price slump
The Organization of the Petroleum Exporting Countries and their allies - collectively known as OPEC+ - have justified their change...
Economy
Economy
Transformative New Murabba Stadium design in Riyadh revealed by PIF
Equipped with cutting-edge sporting technology, the stadium will offer an immersive and personalized experience for fans. Additionally, it will act...
- The design of the Stadium symbolizes the fusion of tradition and innovation that defines New Murabba
- The project is scheduled for completion by the end of 2032
Economy
Powell indicates Fed won’t wait until inflation is down to 2% before cutting rates
Federal Reserve Chair Jerome Powell said Monday that the central bank will not wait until inflation hits 2% to cut...
- A “hard landing” for the U.S. economy was not “a likely scenario.”
- The central bank’s next policy meeting is at the end of July
Economy
Dollar droops before Powell testimony; euro weathers France uncertainty
The U.S. dollar hung near a multi-week low versus major peers on Tuesday, still smarting from Friday's unexpectedly soft jobs...
- The U.S. dollar index was flat at 104.99
- Traders currently set about 76% odds for a rate cut at the September FED meeting
Economy
UK’s Labor Party wins enough seats to form majority government
The Labor Party has officially won enough seats in the UK’s 2024 general election to have a majority in parliament,...
- 61-year-old Keir Starmer led Labor to victory over Rishi Sunak’s Conservative Party in Thursday’s election
- With more than half of all 650 seats counted, Labor looks set to secure one of its biggest-ever majorities in the House of Commons
Economy
Top Middle East sovereign wealth funds invested $38.2 billion in 58 deals
Investments in H1 2024 led by the top Middle East sovereign wealth funds reached$38.2 billion in 58 different deals, according...
- The amount invested by the ‘Oil Five is more than double what the ‘Maple Eight’deployed
- Mubadala re-opened its Beijing office in 2023 to manage its $10 billion JV with SAFE and CDB
Economy
China factory activity contracts for second straight month
Beijing, China - Factory activity in China shrank for a second straight month in June, data showed Sunday, underscoring the country's...
- The manufacturing purchasing managers' index (PMI) registered at 49.5 in June, identical to May's figure, according to the National Bureau of Statistics
- Policymakers are due to convene in the capital Beijing in mid-July for a highly anticipated political gathering expected to focus on economic recovery
Business
UAE realty sector poised for growth as central bank forecasts 6.2% GDP growth in 2025
Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate...
- Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate market forward
- As the UAE continues to strengthen its economic diversification efforts, the real estate sector remains a cornerstone of stability and growth
Economy
RTA launches Phase II Study of Intelligent Traffic Systems Initiative
Dubai’s Roads and Transport Authority (RTA) has started the study and design of Phase II of ITS Improvement and Expansion...
- This phase to cover 100 percent of Dubai's main roads, adopt latest smart technologies and software
- The project has improved incident monitoring by 63 percent, reduced response times by 30 percent
Economy
UAE ranks among the world’s most competitive economies in 2024, says Switzerland’s IMD ranking
The country has risen to the 7th spot in the IMD World Competitiveness Ranking, highlighting its robust economic growth, strategic...
- The assessment, based on comprehensive factors including GDP, productivity, political stability, social cohesion, and cultural impact, underscores the UAE's robust economic growth
- Over the past year, the UAE has made significant strides in bolstering its economic foundations, supported by proactive government policies and strategic investments
Economy
UAE, Qatar Central banks keep interest rates unchanged towing the line with US Fed
The Central Bank of the UAE (CBUAE) and Qatar Central Bank (QCB) have decided to keep interest rates unchanged, following...
- The US Fed funds rate was maintained at the 5.25% - 5.50% range
- The US Consumer Price Index (CPI) showed no increase in May
ADNOC expands its STEM Education Programme to empower UAE students in AI
Abu Dhabi, UAE – ADNOC has expanded its Science, Technology, Engineering and Mathematics (STEM) education programme to empower UAE students...
Company News
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Nations divided ahead of decisive week for shipping emissions
London, United Kingdom -- Members of the International Maritime Organization (IMO) are divided over whether to approve a carbon tax on...
Geostrategy
Stocks, oil slump as China retaliates and Trump digs in heels
Despite the market turmoil, Trump insisted: "my policies will never change". Wall Street stocks fell more than two percent at...
Business
Trump defiant as tariffs send world markets into panic
Wall Street led a global markets bloodbath Thursday as countries around the world reeled from President Donald Trump's trade war,...
Economy
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Economy
Trump stings friends and foes alike in his tariffs war, countries eye trade talks
The tariff announcements rattled stock markets while safe haven gold hit a new record high, oil prices fell and the...
- China demanded that the tariffs be "immediately cancelled" and vowed "countermeasures", while France and Germany warned that the EU could hit US tech firms.
- But EU and other countries also showed willingness to negotiate as they refrained from immediate retaliatory measures, with almost a week until the harsher US levies take effect.
Economy
China says opposes new US tariffs, vows ‘countermeasures’
China on Thursday said it "firmly opposes" sweeping new US tariffs on its exports and vowed "countermeasures to safeguard its...
- US President Donald Trump has ignited a potentially ruinous global trade war after imposing 10 percent levies on imports from around the world
- Beijing responded to those tariffs with levies of up to 15 percent on a range of US agricultural goods including soybeans, pork and chicken
Science
World’s tiniest pacemaker is smaller than grain of rice
Paris, France -- Scientists said Wednesday they have developed the world's tiniest pacemaker, a temporary heartbeat regulator smaller than a...
- While still years away from being tested in humans, the wireless pacemaker was hailed as a "transformative breakthrough" that could spur advances in other areas of medicine.
- Millions of people across the world have permanent pacemakers, which stimulate hearts with electrical pulses to ensure they beat normally.