Financial frauds cost global economy over $442bn in 2025: INTERPOL
AI-enhanced fraud is 4.5 times more profitable than traditional methods. “Agentic AI” systems can autonomously plan and execute complete fraud...
Geostrategy
Dubai moves from importing innovation to exporting it, says Future Solutions Head
Dubai’s innovation ecosystem is entering a new phase, argues Amer Abdulraoof, Head of Dubai Future Solutions – Prototypes for Humanity,...
Interview
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,"...
- The lender lowered growth projections from 4 percent to 2.6 percent for 2025, and from 4.2 percent to 3.4 percent for 2026.
- In 2024, average growth in the region slowed to 1.8 percent -- from 2.1 percent the year before -- due to "ongoing conflicts and extended voluntary oil production cuts".
Economy
US reaching out to China for tariff talks: Beijing state media
United States officials have reached out to their Chinese counterparts for talks on vast tariffs that have hammered markets and...
- Punishing US tariffs that have reached 145 percent on many Chinese products came into force in April, while Beijing has responded with fresh 125 percent duties on US imports
- Beijing has vehemently denied any talks are taking place while repeatedly urging the United States to engage in dialogue in a "fair, respectful and reciprocal" manner
Economy
Global stocks mostly rise as Trump grants auto tariff relief
Stocks moved sideways on Monday after notching four straight positive sessions last week as Trump adopted a more conciliatory posture...
- Trump's pivot includes limitations on the impact of multiple tariffs on carmakers and a measure to allow carmakers to offset a portion of the levy for two years
- Investors are "encouraged by the Trump decision to be a little more flexible (...) with the autos," said CFRA Research's Sam Stovall, who predicted stocks could go higher
Geostrategy
Saudi Arabia and Qatar to settle Syria’s World Bank debt
Riyadh, Saudi Arabia -- Saudi Arabia and Qatar announced on Sunday that they would settle Syria's debt to the World...
- Both Gulf states have played a key role in the diplomatic outreach to Syria's new rulers since the ouster of longtime strongman Bashar al-Assad in December.
- The statement came just days after Syria's central bank governor and finance minister attended the IMF and World Bank spring meetings for the first time in more than 20 years.
Business
Trump trade war pushes firms to consider stockpiling
Even if they don't all acknowledge it so openly, firms in many different sectors are stockpiling their products in the United...
- Whether it's the luxury, electronics or pharmaceutical sectors, US President Donald Trump's unpredictability complicates the calculations of firms.
- Some companies didn't wait for Trump's April 2 announcement of massive "reciprocal" trade tariffs: they had already begun shipping more of their goods to the United States.
Economy
Tariff war: Xi says China must ‘overcome’ AI chip challenges
Beijing, China - President Xi Jinping said China must "overcome" the challenges of developing core AI technologies including high-end chips,...
- China aims to dominate the artificial intelligence sector, a goal complicated by the trade standoff with Washington
- Since the launch of ChatGPT in November 2022, generative AI models have proliferated in the United States and China
Economy
IMF, World Bank welcome efforts for Syria to reintegrate globally
Washington, United States - The International Monetary Fund and World Bank's leaders said in a joint statement Thursday that they...
- The statement, issued with Saudi Arabia's finance minister, came as Syria's central bank governor and finance minister attended the IMF and World Bank's spring meetings
- Significant amounts of Syria's infrastructure have been destroyed by 14 years of war, beginning with a crackdown by president Bashar al-Assad on a pro-democracy movement
Geostrategy
Lebanon parliament approves changes to banking secrecy law
Beirut, Lebanon -- Lebanon's parliament on Thursday approved amendments to banking secrecy legislation, a key reform demanded by the International...
- The international community has long demanded major fiscal reforms to unlock billions of dollars in aid to restart the Lebanese economy in the wake of a five-year economic collapse
- The crash since 2019 has seen the local currency lose most of its value against the US dollar and has pushed much of the population into poverty.
Economy
The game of ‘chicken’ being played with the world economy can be brought to a cooperative end
A meaningful “G3” accord between the US, Europe, and China must include coordinated fiscal, monetary, development, and trade policies. From...
- The hardline positions of the US and China on trade and tariffs are putting the world economy at risk, writes Richard Samans
- Yet, Europe could broker a 'positive off-ramp' that fires on all of the cylinders of international cooperation
Economy
Trump eyes ‘fair deal’ with China, but path to ending tariff war remains unclear
Trade tensions between the world's two biggest economies have soared as Trump ramped up levies on imports from China this...
- But how soon the tariffs can be lowered "depends on them," Trump said, referring to Beijing, even as he maintained that he gets along "very well" with Chinese President Xi Jinping
- But earlier Wednesday, US Treasury Secretary Scott Bessent told reporters that the two countries are "not yet" talking when it comes to lowering tariffs
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Financial frauds cost global economy over $442bn in 2025: INTERPOL
AI-enhanced fraud is 4.5 times more profitable than traditional methods. “Agentic AI” systems can autonomously plan and execute complete fraud...
Geostrategy
Company News
Latest News
OpenAI signs $38 bn infrastructure deal with cloud giant AWS
Under the seven-year agreement, OpenAI, which is partly owned by AWS's archrival Microsoft, will gain access to computing resources including...
Business
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"...
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...
Economy
Most Read
Economy
Steady and sensible, Oman builds its future brick by brick amid the Gulf’s glittering rush
With volatile geopolitics and the resulting uncertainty, the year 2025 has been challenging for most of the countries across the...
- With its resilience and steady march, Omani economy continues to smoothly navigate geo-economic volatility
- If one looks at the economic performance of Oman, there are several lessons to be learned – the foremost being slow and steady win the race
Economy
US Fed will likely cut again despite economic murkiness from shutdown
The central bank's second-to-last rate meeting of the year is taking place against the backdrop of a weeks-long standoff between...
- Without these key insights into the US economy, Fed officials will be forced to set interest rates without the full spectrum of data they normally rely upon.
- The US central bank has a dual mandate from Congress to act independently to tackle both inflation and unemployment.
Economy
Iran declares major lender bankrupt
Iran declared one of the country's largest private banks bankrupt with its assets absorbed by the state, official media reported...
- Founded in 2012, Ayandeh Bank had a network of 270 branches across the country, including 150 in the capital Tehran alone
- But it had more recently been crippled by debt, with accumulated losses amounting to the equivalent of about $5.2 billion