Global rice output in 2024/25 likely to expand by 1.5%: FAO
Rome, Italy -- The Food and Agriculture Organization of the United Nations (FAO) released a new Cereal Supply and Demand...
Geostrategy
Apple expects $900 million hit from tariff war
Apple on Thursday reported first-quarter profit above expectations but warned that US tariffs could cost the company and were disrupting...
Economy
Business
UAE energy ministry awards DEWA for research, innovation
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded first place in UAE Ministry of Energy and...
- DEWA was honored for its innovative grid-integrated system which regulates photovoltaic inverters for autonomous voltage.
- The approach to innovation, research and development in renewable and clean energy is in line with government strategies, DEWA CEO said.
Science
UN chief calls for protection of biodiversity on International Mother Earth Day
NEW YORK, US - UN Secretary-General António Guterres issued a statement calling for urgent action to protect the environment and...
- The UN chief highlighted the crucial relationship between humanity and the natural world.
- He called for deeper and faster emissions cuts to limit global temperature rise to 1.5 degrees Celsius.
Business
DFM, ADX account for 20% of Arab exchanges’ liquidity last week
Abu Dhabi, UAE--The Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) accounted for nearly 20 percent of...
- Arab stock exchanges, according to the Arab Monetary Fund, raked in liquidity to the tune of $10.28 billion last week
- ADX’s liquidity shot up by 2.22 percent last week from US$1.489bn to $1.522bn, while DFM’s liquidity surged by 41.4 percent from US$344.4mn to US$486.06mn
Business
Canada to allot US$9.8bn in subsidies for Volkswagen battery plant
Ottawa, Canada--Canadian Prime Minister Justin Trudeau announced Friday up to 13.2 billion Canadian dollars ($9.8 billion) in subsidies over 10 years...
- Terming the funding a "generational investment", Trudeau said that the new plant is expected to generate about Can$200 billion in value
- In order to attract auto makers, Canada has made a big push into batteries for electric vehicles, touting tax incentives and clean energy
Business
Reliance posts Q1 profit rise
It posted better-than-expected profit increase to US$2.35bn.
- According to a poll by an Indian newspaper, the result exceeded analysts' expectations of slower profit growth of around $2.04 billion
- The company's telecom wing reported a 13.01 percent increase in net profit to $574.76 million from a year ago
Economy
US inflation now ‘broad-based,’ top Fed official says
Signaling its resolve to keep fighting price rises, the US central bank has said that interest rates may need to...
- Lisa Cook, Fed governor, said on Friday that overall inflation, and other underlying measures of consumer price increases, remained high
- She noted that interest rate hikes would be determined by the impact of the recent financial sector turmoil on bank lending
Economy
Qatar sees record expenditure during Eid holidays
The entertainment sector, which includes restaurants, cinemas, and theme parks, attracts customers at record rates during the festive period, especially...
- Economists expect that the demand for gifts will double, and the demand for recreation will increase during the 11-day Eid holiday in the Gulf country.
- Ad campaigns and the doubling of Eidiyah contribute to increasing purchasing power and positively reflect on the performance of the two sectors, they add
Business
London seeks to keep Europe fintech crown despite Brexit
London, United Kingdom -- From digital bank Revolut to money-transfer group Wise and payments company Checkout, London is Europe's fintech champion...
- Britain's exit from the European Union without an EU-London deal on financial services has complicated access to the gigantic market and talent.
- The UK last year saw injections of funds into its fintechs slump by 56 percent to just over $17 billion.
Business
UAE conventional banks’ assets $829 billion by end of Jan 2023
Gross assets of the Islamic banks operating in the country increased to AED620.9 billion as of the end of January...
- Conventional banks in the UAE accounted for nearly 83.1 percent of the total assets in the banking sector by the end of Jan 2023.
- The Islamic banks’ deposits increased to AED434.1 billion in Jan 2023, an annual increase of 3.1 percent, compared to nearly AED421 billion in Jan 2022.
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
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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
Global rice output in 2024/25 likely to expand by 1.5%: FAO
Rome, Italy -- The Food and Agriculture Organization of the United Nations (FAO) released a new Cereal Supply and Demand...
Geostrategy
Company News
Water stress levels vary in Arab countries
Infographics
Latest News
Abu Dhabi establishes Artificial Intelligence and Advanced Technology Council
Abu Dhabi, UAE-- The UAE President Sheikh Mohamed bin Zayed Al Nahyan has issued a law, as the ruler of...
Economy
Saudi Arabia expects to attract 150 million visitors by 2030
Riyadh, Saudi Arabia - Saudi Arabia aims to attract 150 million visitors by 2030, with the tourism sector expected to...
Economy
Rising costs, debt challenges grip Egypt’s economy
Egypt begins 2024 with steep increases in essential services' prices, exacerbating the economic strain on its citizens amidst a broader...
Economy
Most Read
Economy
Bahrain Q4 2023 imports increase to US$3.92bn
MANAMA, BAHRAIN - The Information eGovernment Authority (iGA) has published its foreign trade report of Bahrain for Q4 2023, covering...
- The top 10 countries accounted for 69 percent of Bahrain's total export value.
- The value of exports with national origin was of $2.89 billion during Q4 2023.
Economy
European Central Bank to signal no rush to cut interest rates
The Frankfurt institute is tipped to pause for the third meeting in a row following a historic run of hikes...
- The ECB is "in no rush yet" to change course and governors may not even discuss cuts at this week's meeting, Deutsche Bank economists wrote
- "We expect Thursday's ECB press conference to again highlight the exceptionally low possibility of a rate cut before the summer," agreed Unicredit in an analyst note
Economy
Saudi Arabia lists priority specializations for Special Talent Residency
Riyadh, Saudi Arabia - Saudi Arabia's Premium Residency Center on Sunday revealed a list of priority specializations that qualify individuals...
- Saudi Arabia is actively seeking to attract top-tier talents and minds globally, encouraging them to reside and work in the country to foster development
- The specified specializations that make expatriates eligible for Special Talent Residency encompass a diverse range of sectors