Why investors rush to gold in uncertain economic times?
London, United Kingdom -- Why do investors flock to gold when economic times turn tough? As the precious metal reaches...
Business
Trump’s new tariffs take effect, with 104% on Chinese goods
US President Donald Trump's punishing tariffs on dozens of economies came in force Wednesday, including over 100 percent in levies...
Economy
Economy
IMF lowers 2023 forecast to 2.8%, warns of half-decade of low growth
The IMF predicted the global economy will grow by 2.8 percent this year and three percent in 2024, a decline...
- The IMF expects global inflation to slow to seven percent this year, down from 8.7 percent last year, according to the WEO forecasts.
- Close to 90 percent of advanced economies will experience slowing growth this year, while Asia's emerging markets are expected to see a substantial rise in economic output.
Economy
UAE and Malta sign MoUs to deepen ties in maritime, sports fields
Abu Dhabi, UAE-- The UAE and Malta have signed three memoranda of understanding in areas of maritime affairs, youth, and...
- The two ministers discussed ways of deepening cooperation and partnership between the two countries
- The foreign minister of Malta expressed hope to build bilateral relations with the UAE in various field while applauding the UAE's achievements
Economy
China’s consumer price inflation falls below one percent in March
Struggling to recover from its pandemic-driven slump, China, the world's second largest economy, has reported that its consumer price inflation...
- According to National Bureau of Statistics, the CPI came in at 0.7 percent, down from the one percent seen a month earlier
- Although commodity and food prices have been rising all over the world, China has not been hit by increases linked to the Ukraine war
Economy
Swiss president to defend UBS takeover of Credit Suisse in parliament
During this week's session, lawmakers will have to endorse the guarantees, but the vote is only symbolic, said Samuel Bendahan,...
- The parliamentary session opens at 11:15 am Tuesday with a statement from the government to 46-member Council of States upper house
- Centre-right party The Centre thinks the takeover was the least worst option, but it wants clarity on the risks involved in creating a superbank
Economy
TRENDS poll: GCC residents opt to be in Dubai for Eid vacation
Most of the participants, in the poll from as far away as Egypt and Lebanon, picked up Dubai to celebrate...
- Dubai has been attracting young travelers in droves, thanks to its infrastructure, cleanliness, beaches, and high levels of safety
- Qatar has seen an influx of tourists, with a record number already being registered in the first two months of the year
Business
Abu Dhabi QCC drives emirate’s infrastructure development in 2022: Report
Abu Dhabi, UAE - Abu Dhabi Quality and Conformity Council (QCC) has made strides in developing the quality infrastructure of...
- In 2022, the Council approved 26 new technical documents, reviewed 22 draft specifications and technical regulations.
- The report said that the council has conducted over 5 million laboratory examinations since 2014, 606 main services and over 2,394 sub-examinations.
Business
DEWA approves payment of US$1.29bn in dividend to shareholders
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) which is listed on the Dubai Financial Market (DFM) on Monday...
- DEWA general assembly was chaired by Matar Humaid Al Tayer, Chairman of the Board of Directors of the utility.
- Saeed Mohammed Al Tayer, MD and CEO of DEWA and members of the Board of Directors also took part in the meet.
Economy
Asian markets mixed as US jobs data hints Fed interest rate hike
The closely watched non-farm payrolls reading on Friday followed a string of figures last week showing the world's top economy...
- While rates are seen going up, bets are for officials to end their hiking cycle earlier than previously thought.
- Oil prices edged down as investors weighed OPEC's decision to cut output by more than a million barrels a day.
Geostrategy
Environment Agency – Abu Dhabi launches strategic environmental assessment program
ABU DHABI, UAE - The Environment Agency - Abu Dhabi (EAD) has introduced the Strategic Environmental Assessment (SEA) planning program...
- Strategic Environmental Assessment will promote sustainable development and a healthy environment for future generations.
- SEA will aid in evaluating environmental impacts and guiding the investigation of alternatives and potential mitigation efforts.
Business
Microsoft, G42 sign MoU
MoU will leverage core competencies of both the firms.
- The MoU will help explore joint business development and marketing opportunities across a variety of areas G42 covers.
- Microsoft and G42 will be working in the coming months to finalize the development required to ensure regulatory compliance.
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Why investors rush to gold in uncertain economic times?
London, United Kingdom -- Why do investors flock to gold when economic times turn tough? As the precious metal reaches...
Business
Company News
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Dubai Investment posts profit
Business
AI to impact 60% of advanced economy jobs: IMF’s Georgieva
The IMF sees an important opportunity for policy prescriptions to help address these concerns, Georgieva told AFP. "We must focus...
Economy
Saudi Arabia leads world in innovation and investment
"This is in the service of humanity and in building an interconnected and innovative future in various fields, including public...
Economy
Several MoUs signed at Future Minerals Forum in Saudi Arabia
RIYADH, SAUDI ARABIA – The third edition of the Future Minerals Forum (FMF), organized by the Kingdom’s Ministry of Industry...
Business
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Economy
Saudi Vision 2030 aligns with global eco-goals
"The Davos meeting provides a platform for showcasing Saudi Arabia’s significant efforts and progress in these areas ... International partnerships...
- Saudi Arabia commits to economic diversification through Fourth Industrial Revolution technologies.
- The Kingdom's participation in the World Economic Forum highlights its role in global challenges.
Oil prices rise on Red Sea escalation, corporate earnings season
Crude prices spiked more than four percent before ebbing somewhat after the allies launched deadly strikes following weeks of disruptive...
- In Friday trade, the Dow dipped while the S&P 500 edged higher as investors digested corporate earnings and a surprise drop in wholesale inflation
- Leading banks were mostly lower following a deluge of quarterly results, while airlines were hammered after Delta's forecast disappointed investors
Saudi Arabia announces operational start of this year’s Hajj season
Riyadh, Saudi Arabia - Saudi Minister of Hajj and Umrah, Tawfiq Al-Rabiah, officially inaugurated the operational activities for the 1445...
- The commencement follows the conclusion of the Hajj and Umrah Services Conference and Exhibition, a 4-day event that showcased facilities for the well-being of pilgrims
- The conference witnessed the signing of multiple agreements covering areas such as housing, logistical services, healthcare, transportation, catering, technology, etc