Wealthy Asians consider shifting assets from Dubai amid Iran war fears: report
Some wealthy Asian investors are considering moving assets out of Dubai following Iranian missile and drone attacks on the city,...
Economy
MENA’s next tech breakthrough depends on infrastructure, not hype
Jamil Shinawi, CEO and Co-founder of AHOY and co-founder of Actual VC, speaks to TRENDS about risk, capital efficiency, and...
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
Economy
IMF cuts global growth outlook on impact of Trump tariffs
Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the...
- The IMF projections see the global economy growing by 2.8 percent this year, 0.5 percentage points lower than the previous World Economic Outlook (WEO) forecast in January.
- The IMF expects China, the world's second-largest economy, to see growth slump to 4.0 percent this year, down from 5.0 percent in 2024.
Business
Gold hits record, dollar drops as tariff fears dampen sentiment
With several markets still closed for the Easter holiday, business was limited ahead of a week that will see the...
- The precious metal was also helped by a weaker dollar, which has also been hit by worries about Trump's standoff with Fed boss Jerome Powell.
- Stocks had a mixed start to the week, with Tokyo weighed by the stronger yen while Taipei, Jakarta and Bangkok were also in negative territory.
Economy
Beijing slams ‘appeasement’ of US in trade deals that hurt China
China on Monday hit out at other countries making trade deals with the United States at Beijing's expense, promising countermeasures...
- While the rest of the world has been slapped with a blanket 10 percent tariff, China faces levies of up to 145 percent on many products
- China has vowed to fight a trade war "to the end" and has not confirmed that it is in talks with Washington, though it has called for dialogue
Economy
UAE foreign trade increases by 49% to reach $1.42 trillion in 2024
The UAE climbed from 17th to 11th globally in merchandise exports and from 18th to 14th in imports between 2021...
- The UAE accounted for 41.4 percent of the Middle East’s $1.5 trillion merchandise exports, with regional exports growing by 3.7 percent and services by 4.1 percent in 2024.
- Globally, the UAE contributed 2 percent to services exports and 1.3 percent to imports, with service exports of $176 billion and imports of $106 billion.
Economy
Trump’s tariffs fallout: Why trade tensions are a ‘storm cloud’ over financial markets
Stocks later rallied after Trump announced a 90-day pause on additional higher tariffs that were set to impact around 80...
- New US tariffs have upended global trade and caused significant volatility in financial markets
- In early April, global stock markets plummeted after US President Donald Trump unveiled a new tariff regime
Geostrategy
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...
- Defiant posts have shot to the top of most-searched lists on social media, flooding platforms with patronizing comments and jokes.
- In one video, a Chinese internet user opens his hands to reveal what goods he buys from the United States -- nothing.
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Wealthy Asians consider shifting assets from Dubai amid Iran war fears: report
Some wealthy Asian investors are considering moving assets out of Dubai following Iranian missile and drone attacks on the city,...
Economy
Company News
Latest News
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...
Economy
Gartner lists 2026’s defining tech: Faster AI, safer clouds, and smarter security
AI supercomputing platforms integrate CPUs, GPUs, AI ASICs, neuromorphic and alternative computing paradigms, enabling organizations to orchestrate complex workloads while...
Science
China vows massive high-tech sector development in next decade
Beijing, China -- China will develop its high-tech sector on a massive scale in the next decade, top officials vowed...
Economy
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Geostrategy
Oil prices surge as Trump hits Russian crude with sanctions
The international benchmark contract, Brent North Sea crude, jumped 4.8 percent while West Texas Intermediate was up 5.1 percent. Trump on Wednesday announced...
- The move was joined by another round of punishments by the European Union as part of attempts to pressure Moscow to end its three-and-a-half-year invasion of Ukraine.
- According to industry analysts the two companies account for just over half of Russia's oil output, and both also produce natural gas.
Science
Celebrities, AI giants urge end to quest for superintelligence capable of outsmarting humans
Signatories include the "Godfather of AI" and 2024 winner of the Nobel Prize in Physics Geoffrey Hinton; Computer Sciences Professor...
- Most major AI developers are striving for artificial general intelligence (AGI), a stage where AI would match all human intellectual capabilities, and even superintelligence
- Speaking at an event organised by the media group Axel Springer in September, OpenAI CEO Sam Altman said that superintelligence could be achieved within the next five years
Geostrategy
Norway’s wealth fund to enlist AI for managing climate risks
Oslo, Norway -- Norway's sovereign wealth fund said Wednesday that it would incorporate artificial intelligence tools into its investment analysis...
- The fund's head of active ownership, Wilhelm Mohn, said AI along with its own analysis tools would allow it to "streamline processes and enhance decision-making".
- The fund urges the more than 8,600 companies it invests in worldwide to commit to net-zero carbon emissions by 2050.