Warren Buffett says will retire from Berkshire Hathaway by year’s end
Buffett transformed Berkshire Hathaway from a medium-sized textile company when he bought it in the 1960s into a giant conglomerate,
Economy
Slower growth expected in MENA region in 2025: IMF
"Growth is still projected to increase in 2025 and 2026, but at a considerably slower pace than anticipated last October,"...
Economy
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
Business
Abu Dhabi announces $100m Culinary Investment Fund
Dubai, UAE -- The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) Wednesday announced a new $100...
- DCT said the fund will support building and establishing a Culinary School to aid with recruitment, training, and other staffing resources in the sector.
- The first two recipients of the new Abu Dhabi Culinary Investment Fund would be announced in the coming months.
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
Warren Buffett says will retire from Berkshire Hathaway by year’s end
Buffett transformed Berkshire Hathaway from a medium-sized textile company when he bought it in the 1960s into a giant conglomerate,
Economy
Company News
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Beltone 9M net profit at $2.7m
Business
ASFAR, Municipality of Al-Ahsa sign agreement
RIYADH, SAUDI ARABIA - ASFAR, the Saudi tourism investment company wholly owned by the Public Investment Fund of Saudi Arabia,...
Business
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...
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...
Economy
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Business
Quiet and not-so-quiet luxury at Paris Fashion Week
PARIS, FRANCE - The Paris Fashion Week menswear shows draw to a close on Sunday. Here are some of the highlights...
- Celebrity presence has always been a big part of the fashion game, with sporting tie-ups playing an increasingly big role.
- New York label KidSuper scored big by convincing Brazilian footballer Ronaldinho to walk the catwalk.
Business
UAE foreign investment projects second highest in world: UNCTAD
Abu Dhabi, UAE -- The UAE recorded the second-highest increase in the number of new foreign investment projects around the...
- The number of these projects increased by 28 percent compared to 2022, said the UNCTAD report entitled “Investment Trends Monitor”.
- Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, emphasized that the UAE is benefiting from the forward-looking vision of its leadership.
Business
ArcelorMittal wants ‘amicable solution’ on Italy steelworks
ROME, ITALY - ArcelorMittal has offered to sell its stake or become a minority shareholder in an Italian steelworks after Rome...
- Italy considers the steelworks a strategic asset, but it has long been plagued by financial problems and environmental concerns.
- Talks with ArcelorMittal, which owns a 62-percent stake, had broken down over how to keep production going.