UAE Central Bank to hold rate after Fed pause amid regional tensions
Fed Chair Jerome Powell signalled a cautious approach, noting that elevated energy prices and geopolitical tensions could complicate the inflation...
Economy
MEA market decision-making cycle is fast but risk-averse: Ralph Melis
The Middle East and Africa (MEA) markets are characterized by rapid growth, high owner influence, diverse operator models, and a...
Interview
Economy
US and China meet in ‘important step’ towards de-escalating trade war
Geneva, Switzerland - Senior US and Chinese officials were meeting in Geneva Saturday in what Chinese state media described as...
- US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer were holding talks with Chinese Vice Premier He Lifeng
- The talks were being held at the residence of the Swiss ambassador to the United Nations in Geneva
Economy
US and China prepare for trade talks as Trump floats tariff cut
Senior US and Chinese officials are in Switzerland this weekend for talks aimed at de-escalating a burgeoning trade war sparked...
- Tariffs imposed on the Asian manufacturing giant since the start of the year currently total 145 percent, with cumulative duties on some goods reaching a staggering 245 percent.
- In retaliation, China slapped 125 percent levies on US goods, cementing what is effectively a trade embargo between the world's two largest economies
Economy
Damascus, Ankara agree natural gas deal for Syria
Damascus, Syria - Syrian Energy Minister Mohammad al-Bashir said Friday Damascus and Ankara had reached a deal for Turkey to...
- Syria's Islamist authorities, who toppled Bashar al-Assad in December, are seeking to rebuild the country's infrastructure
- The conflict badly damaged Syria's power infrastructure, leading to cuts that can last for more than 20 hours a day
Economy
‘Bombshell’ OPEC+ output hike hits oil price
Oil prices slumped on Monday after eight OPEC+ members announced a sharp increase in production, while Asian stocks treaded water...
- The output increase of 411,000 barrels a day announced by Saudi Arabia, Russia and six other members of the oil cartel on Saturday added to concerns about over-supply
- The price of crude has already been sliding because of fears of a global economic slowdown on the back of US President Donald Trump's tariff onslaught
Geostrategy
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...
- FAO’s latest forecast for 2025 wheat production is pegged at 795 million tons, on par with the previous year.
- FAO’s new forecast for world cereal utilization in 2024/25 stands at 2 870 million tons, a 1.0 percent increase over the 2023/24 level.
Economy
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,
- Buffett's success, coupled with his ability to explain his thinking in clear soundbites, has made him highly influential in the business and financial communities
- Several years ago, Buffett had already indicated that the 62-year-old Abel would be his pick for successor in an interview with CNBC
Economy
OPEC+ countries to open the oil taps despite price slump
Saudi Arabia, along with Russia and six other members of the oil cartel, will implement a production adjustment of 411,000...
- Saudi Arabia, along with Russia and six other members of the oil cartel, will implement a production adjustment of 411,000 barrels a day out of the ground
- Numbering a total of 22 countries, most of which are highly dependent on oil, the OPEC group had until recently been exploiting supply scarcity to boost prices
Economy
Trump’s next 100 days: Now comes the hard part
In a dizzying first three months, Trump wielded executive power like no other modern president, signing more than 140 orders...
- The job gets trickier now for the self-styled dealmaker-in-chief, who must corral fractious Republicans on Capitol Hill to anchor his domestic policies in legislation
- Trump's political capital will be put to the test as he aims to shepherd his sprawling agenda on tax, border security and energy production through the House and Senate
Economy
Massive GCC infrastructure investments set stage for rising foreign equity: Franklin Templeton
The Franklin Templeton Emerging Markets Equity outlook emphasizes how GCC countries have reduced their dependence on oil and gas, opened...
- The FTEME outlook emphasizes how GCC countries have reduced their dependence on oil and gas, opened their capital markets, and diversified their economies
- The report highlights a striking decline in the equity risk premium (ERP) in the GCC — from 6.6% in 2016 to 2.4% by March 2025
Economy
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...
- Cook said he expected "a majority of iPhones sold in the US will have India as their country of origin."
- Tit-for-tat exchanges have seen hefty US levies imposed on China, with Beijing setting retaliatory barriers on US imports
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
UAE Central Bank to hold rate after Fed pause amid regional tensions
Fed Chair Jerome Powell signalled a cautious approach, noting that elevated energy prices and geopolitical tensions could complicate the inflation...
Economy
Company News
Latest News
Qatari firm to invest $29.7 billion in Egypt coastal development
The project in the Alam al-Roum area, in Egypt's Matrouh Governorate, will span "4,900 acres... extending across a coastline of...
Economy
Bahrain: Financial pioneer of the Gulf
In the post-digital world, Bahrain’s center of activity, the city of Manama, has stiff yet healthy competition from the GCC...
Economy
Qatar warns will cut gas supply to Europe over EU’s green rules
Qatar's energy minister on Monday warned the Gulf state would halt its supply of liquefied natural gas to Europe over...
Economy
Most Read
Economy
OPEC+, including Saudi Arabia and Russia, agree further hike to their oil production
The 137,000-barrels-per-day hike will apply from December and remain at that level for the following three months, signifying a "pause"...
- The 137,000-barrels-per-day hike will apply from December and remain at that level for the following three months, signifying a "pause" in what had been regular hike since April
- The announced increase, which tallied with analyst expectations, has been seen as a bid by the key members of OPEC+ - known as the Voluntary Eight - to gain greater market share
Economy
Social media fooled by AI video of ‘sky stadium’ for Saudi 2034 World Cup
Paris, France - An AI-generated video claiming to show one of the football stadiums for the 2034 FIFA World Cup...
- The video of glowing arena built atop a towering skyscraper was shared by thousands of social media accounts, with millions of users believing it was the official visual
- While Riyadh has unveiled plans to build a football area on a real estate complex in The Line – a futuristic new megacity project – the official plans bear no likeness to the clip
Economy
Backed by its sovereign wealth fund, Saudi chases AI ambitions with homegrown firm pitched to global investors
The company, launched in May, is bankrolled by Saudi's powerful Public Investment Fund, which has played a key role in...
- The company, launched in May, is bankrolled by Saudi's powerful Public Investment Fund, which has played a key role in financing the kingdom's gigaprojects
- But Riyadh's ambitions to become a global AI hub face fierce competition from the neighbouring United Arab Emirates, which have invested in AI for years