Beijing slams ‘appeasement’ of US in trade deals that hurt China
China on Monday hit out at other countries making trade deals with the United States at Beijing's expense, promising countermeasures...
Economy
Global economy under pressure could slow to 2.3 percent: UNCTAD
UNCTAD report '"Trade and Development Foresights 2025 – Under pressure: Uncertainty reshapes global economic prospects” cited mounting threats including trade...
Economy
Eurozone economy accelerates to 11-month high in April
Cyrus de la Rubia, chief economist at Hamburg Commercial Bank (HCOB), said the indices for the eurozone showed "a very...
- Data from the HCOB Flash Eurozone purchasing managers' index (PMI) survey published by S&P Global rose to 54.4 in April from 53.7 in March
- Inflation fell to 6.9 percent on an annual basis in March, but is still far above the European Central Bank's two-percent target
Economy
Erdogan launches Black Sea gas deliveries ahead of vote
The facility will begin producing 10 million cubic metres of gas daily in a first phase - which Erdogan said...
- The ceremony comes as Erdogan braces for a tight race on May 14 in what is widely seen as the most consequential vote in Turkey's modern history
- In 2020, the country discovered gas reserves off the coast of Zonguldak in the Black Sea region, which Erdogan hailed as Turkey's largest ever natural gas field
Market Report
Stock markets slip on auto woes, economy fears
Global equities mostly slid on auto sector woes and economic fears about the prospect of more interest rate hikes aimed...
- The dollar fell against its main rivals and crude oil tanked more than two percent.
- Europe's main equity markets were mostly lower after a mixed session in Asia.
Science
EU uncertain over biodiversity protection despite okaying climate change laws
STOCKHOLM, SWEDEN - EU lawmakers this week adopted new laws boosting Europe's climate change fight, but a parallel drive to protect...
- Negotiations between the European Commission, EU member states and the European Parliament on the issue have run into difficulty over the details.
- Scandinavian countries are worried about forestry sector, while others believe the scope of the text proposed by the commission goes too far.
Economy
WTO, WBG, WEF launch scheme for trade, climate mitigation efforts
GENEVA, SWITZERLAND - The World Trade Organization (WTO), the World Bank Group (WBG) and the World Economic Forum (WEF) on...
- The initiative Action on Climate and Trade (ACT) . which starts with a pilot phase, will focus on working with participating developing economies.
- ACT will provide participating economies with tailored insights so that they can plan for the impacts of climate change on trade.
Economy
EU parliament approves sweeping cryptocurrency rules
The European Parliament approved the comprehensive rules to regulate the "Wild West" world of cryptocurrencies, hoping to protect investors against...
- Under the regulation known as Markets in Crypto Assets (MiCA), cryptoasset service providers (CASPs) must protect customers' digital wallets.
- Large providers will also have to disclose their energy consumption as part of the EU's efforts to reduce cryptocurrencies' high carbon footprint.
Science
67mn children missed out on vaccines because of Covid: UNICEF
A grim UNICEF report warns of a potential outbreaks of polio and measles in children who didn't get vaccinated because...
- Africa and South Asia were the hardest hit as vaccine coverage among children declined in 112 countries and the percent of children vaccinated worldwide slipped 5 points
- Each year immunization saves 4.4 million lives, a number the United Nations figures could jump to 5.8 million by 2030 if its ambitious targets to leave "no one behind" are met
Geostrategy
UN chief to host meeting on Afghanistan in Doha to seek ‘way forward’
Seeking a "durable way forward" for the war-scarred Afghanistan, the UN Secretary-General Antonio Guterres is convening an international meeting in...
- In the wake of a ban on Afghan women working for the world body, the UN mission in Afghanistan has begun an assessment of its operations
- The Doha meeting announcement follows the UN estimate that the number of Afghans in poverty has nearly doubled to 34 million since the Taliban takeover
Geostrategy
Yemen stampede kills 85 at a charity distribution event
In one of the deadliest stampedes in a decade, more than 80 people died and hundreds were injured at a...
- The incident occured inside a school where aid was being distributed among hundreds of people gathered to receive handouts
- According to the UN, more than two-thirds of the population lives below the poverty line, including employees who have not been paid in years
Economy
Perfect storm will make dollar biggest loser of 2023: deVere CEO
The warning from the boss of the financial giant follows the dollar having already dropped 10 percent from its peak...
- The warning from the boss of the financial giant follows the dollar having already dropped 10 percent from its peak hit last year
- He warns that there is a transition underway from a bull to a bear cycle for the dollar and that this will impact the global investment environment
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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
Beijing slams ‘appeasement’ of US in trade deals that hurt China
China on Monday hit out at other countries making trade deals with the United States at Beijing's expense, promising countermeasures...
Economy
Company News
Gulf Air hit by data breach
Economy
Latest News
France flooded with applications for electric car leasing scheme
Paris, France - The French government has been flooded with applications from low-income households to lease a subsidized electric car from...
Business
In Davos, AI excitement persists but fears over managing risks
A recent IMF report said AI would affect nearly 40 percent of jobs around the world, and some 60 percent...
World Economic Forum
Tesla’s Musk throws down the gauntlet
Amid declining sales and safety concerns, CEO covets more control, seeking solace in SpaceX's success.
Business
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Economy
Pakistan, Dubai ink deals worth $3 billion at Davos
Davos, Switzerland - Pakistan and Dubai signed two agreements totaling over $3 billion on the sidelines of the World Economic...
- One of the key agreements involves the establishment of a rail-based dedicated freight corridor
- It will run from Karachi Port on the Arabian Sea through Karachi to the Pipri Marshalling Yard
World Economic Forum
Middle East needs strong Saudi Arabia, says kingdom’s finance minister
Dubai, UAE-- Saudi Arabia's Finance Minister Mohammed Al-Jadaan said the Middle East needs a strong Saudi Arabia to contribute and...
- The World Economic Forum meeting in Saudi Arabia will address economic issues, international cooperation and global challenges
- The kingdom's finance minister said the region requires a strong Saudi Arabia to contribute and that future outlook looks positive
Business
UAE ranks first in Arab world in labor-resilient countries, says report
Dubai, UAE - Against the backdrop of the World Economic Forum in Davos, Whiteshield announces the release of the Global Labor...
- As the world confronts the challenges of global warming and the transition to a sustainable future, the impact on labor markets looms large.
- The direct consequences of climate change, including displacement, migration, and fluctuations have become increasingly pervasive.