Chinese vent anger at Trump’s trade war with memes, mockery
Beijing, China -- While China's leaders use their economic and political might to fight Donald Trump's trade war "to the...
Geostrategy
Osaka Expo 2025 opens: World gathers amidst hope and global tensions
From quirky Hello Kitty algae sculptures to demonstrations of flying vehicles and lunar samples, the Osaka Expo offers a fascinating...
Geostrategy
Economy
GCC-listed firms post record growth in 2022, fueled by a thriving energy sector
Net profit reported by the companies jumped to a record high of US$ 273.3 billion in 2022, compared to US$...
- Net profit reported by the companies jumped to a record high of US$ 273.3 billion in 2022, compared to US$ 199.0 billion in 2021
- The energy sector alone witnessed US$ 74.2 billion, or 37.3 percent growth, mainly on the back of a steep jump in profits led by Aramco
Geostrategy
Air France, Airbus acquitted over 2009 Rio-Paris crash
PARIS, FRANCE - Air France and plane manufacturer Airbus were acquitted Monday over the 2009 crash of a Rio-Paris flight after...
- The two companies went on trial in October to determine their responsibility for the worst aviation disaster in Air France's history.
- If convicted, Air France, Airbus would have risked a fine of US$250,000 as well as significant reputational damage.
Market Report
Stocks mixed, dollar firms on rate-hike fears
Stock markets traded mixed as last week's optimism gave way to worries that central banks may wait longer than expected...
- The dollar firmed on prospects of more US rate-tightening and oil prices slipped.
- Cooler inflation is said to have eased the pressure on the European Central Bank.
Business
Delegation highlights investment opportunities in Ras Al Khaimah
RAS AL KHAIMAH, UAE - A delegation from Ras Al Khaimah Economic Zone (RAKEZ) has concluded its visit to Russia...
- RAKEZ delegation met people from construction, manufacturing, information technology and fast-moving consumer goods trading.
- The audience in Russia was keen on exploring sectors such as cement, building materials, engineering services and raw materials trading.
Nile-side Egypt town heralds spring with millennia-old pungent delicacy
The delicacy of saltwater fish, buried in salt for weeks at a time, remains a staple as Egyptians celebrate on...
- The traditional dish feseekh dates back more than 4,000 years and has been found in archaeological sites in Egypt, said former antiquities minister Zahi Hawass
- Even a sharp economic crisis impacting every facet of Egyptian life over the past year, has not stopped locals from getting feseekh at a price of about $7-8 per kilo
Economy
Saudi Arabia and Netherlands discuss export of clean hydrogen to Europe
Riyadh, Saudi Arabia-- Saudi Arabia and the Netherlands have discussed the possibility of exporting clean hydrogen from the kingdom to...
- The two also discussed the kingdom's efforts in clean energy and climate change through its local and regional initiatives
- In a separate meeting, the Saudi Foreign Minister Prince Faisal bin Farhan and the Dutch minister reviewed the bilateral relations between the two nations
Geostrategy
More than 40 people killed in Syria attacks blamed on IS
The Observatory, which has a wide network of sources on the ground in Syria, said fighters riding motorbikes also attacked...
- Since February, more than 240 people have been killed in IS attacks targeting truffle hunters or by landmines left by the extremists
- Remnants of explosives laid by all sides in the conflict are now claiming more lives in Syria than anywhere else in the world, says the UN
Economy
Annual inflation in Qatar shoots up 4.01 percent in March
Doha, Qatar-- Inflation in Qatar rose by 4.01 percent year-on-year in March, because of a rise of prices across eight...
- Recreation and culture posted the highest increase, climbing up to 13.63 percent, according to the data released by the Planning and Statistics Authority
- During the fourth quarter of 2022, Qatari banks recorded the highest loan increase among Gulf lenders, despite a stiff interest rate environment
Business
Merck to buy Prometheus
The US$11bn deal will drive drug company's growth.
- At the closing of the New York Stock Exchange on Friday, Prometheus's share price stood at $114.01
- The medical company is in the middle of developing a treatment for autoimmune diseases, including ulcerative colitis and Crohn's disease
Geostrategy
Iraq invites Turkey, Iran to discuss water share issue
BAGHDAD, IRAQ - Iraq's Minister of Water Resources Aoun Diab said on Sunday that the releases of the Tigris River...
- Iraq's Minister of Water Resources said that an invitation was extended to the Iranian Minister of Energy to attend the third Baghdad Water Conference.
- Iraq invited the Turkish delegation for the purpose of continuing discussions on activating the memorandum of understanding signed between the two countries.
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
Chinese vent anger at Trump’s trade war with memes, mockery
Beijing, China -- While China's leaders use their economic and political might to fight Donald Trump's trade war "to the...
Geostrategy
Company News
Latest News
Dubai at forefront of sustainable energy innovations
“We're witnessing strong, growing, and sustainable demand for energy and water in Dubai. In 2023, the peak electricity load rose...
Economy
Apple loosens grip on iPhone apps
Apple will permit developers to include buttons or links in apps.
Business
WTO head ‘less optimistic’ for world trade due to Red Sea strikes
The head of the international trade body said weaker global economic growth, "worsening geopolitical tensions, the new disruptions we see...
World Economic Forum
Most Read
Economy
Gold extends slide after Fed dampens March rate cut hope
Dubai, UAE - Gold prices extended losses on Wednesday as the US dollar strengthened after comments from a Federal Reserve...
- Spot gold was down 0.2% at $2,023.49 per ounce, as of 0415 GMT, after stooping 1.3% in the previous session - its biggest single-day decline since 4th December 2023
- The US Dollar Index, which gauges the dollar's strength against a basket of major currencies from key US trading partners has surpassed the 103.30 level
Business
Mawani reports rise in container handling
The growth aligns with the aims of national logistics strategy.
- Saudi Arabia's overall ports recorded a 9.01% increase in annual container handling for 2023, reaching 11,380,302 TEU compared to 10,439,620 TEU in 2022
- Transshipment containers also experienced an 8.96% increase in volume, with 3,237,490 TEU transshipped in 2023 compared to 2,971,233 TEU in 2022
Economy
CBUAE balance sheet touches US$182 billion in November 2023
Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to $182.43 billion at...
- The UAE central bank's balance sheet maintained a steady 21.2% growth rate throughout the first eleven months of 2023
- According to the CBUAE, investments and deposits also played a huge role, totaling $56.63 billion and $26.53 billion respectively