US, China to publish details of ‘substantial’ trade talks in Geneva
The US and China will Monday give details of "substantial progress" touted by Washington on trade talks aimed at ending...
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...
Economy
Economy
Dubai Financial Market hits one-month high riding on blue-chip communication stocks
Abu Dhabi, UAE - UAE stock markets Monday continued to capitalize on improved investor sentiments, with blue-chip communication stocks leading...
- Saudi Arabia, as per the report, was the best performing GCC market during the month with a gain of 4.8 percent
- The Muscat Stock Exchange was the second-best performing market for the second consecutive month in March 2023
Economy
Bahrain’s investment push: Businesses with large-scale projects to get Golden Licence
Manama, Bahrain - Bahrain has announced the launch of a Golden Licence, providing incentives and streamlined services to foreign and...
- The move builds upon the growing investment attractiveness of Bahrain, which has recently recorded its highest Real GDP growth rate in almost a decade
- Companies with major investment projects that will create over 500 jobs, or those with investment value exceeding $50 million, will be eligible for the license
Economy
Priorities set to spur Saudi digital transformation
Organizations across the Kingdom are witnessing major DX impact in customer satisfaction, cost efficiencies, and data-driven insights, an IDC executive...
- Organizations across the Kingdom are witnessing major DX impact in customer satisfaction, cost efficiencies, and data-driven insights, an IDC executive tells TRENDS
- More than 50 percent of chief information officers in Saudi Arabia are now focused on transitioning their existing business models to digital ones, says an IDC report
Business
DMCC posts record Q1 growth as 708 firms register
A total of 3049 new companies joined DMCC in 2022.
- This is DMCC's best performance in Q1 since its inauguration in 2002, marking a 8.4% increase year-on-year.
- The best performing sectors for DMCC was its traditional core markets, which showed strong results in businesses from various countries.
Geostrategy
Oil cuts in interest of energy markets, says Russia
The Kremlin said oil output cuts by Russia, Saudi Arabia and other major producers that have caused prices to soar...
- Saudi Arabia and other major oil producers announced Sunday a production cut of more than one million barrels per day.
- Russia said it would extend until the end of the year its own voluntary production cut of 500,000 barrels per day.
Geostrategy
China begins security probe into US chipmaker Micron
BEIJING, CHINA - Chinese authorities have begun an investigation into leading US memory chipmaker Micron Technology, a decision Beijing's foreign ministry...
- The probe escalates an already fierce battle between US and China for supremacy in the field of semiconductors.
- US authorities have in recent years sought to prevent the country's advanced chip technology from being exported to China.
Oil market surges as Saudi-led top producers cut output defying US pressure
Sunday's move "caught the markets off guard" and reversed recent oil-price gains, noted ActivTrades analyst Ricardo Evangelista. "With the fizzling...
- Crude futures surged almost eight percent at one stage after multiple members of the OPEC+ exporters' alliance unexpectedly slashed production
- The shock reduction, unveiled  Sunday by Algeria, Iraq, Kuwait, Oman, Saudi Arabia and the UAE, will start in May and last until the end of the year
Turkey’s inflation slows to 50% ahead of election
Analysts warn that the economy may start heating up as the government rebuilds huge swaths of Turkey's southeast that were...
- The inflation rate slowed for a fifth consecutive month from a high of more than 85 percent, according to the state statistics agency
- Erdogan has tried to fight Turkey's inflation by slashing interests rates, the opposite approach taken by central banks in other countries
Economy
Business confidence drops among Japan’s largest manufacturers
Tokyo, Japan--Japan's largest manufacturers feel less optimistic about business conditions with confidence falling to its lowest level in more than...
- The quarterly Tankan survey undertaken by the Bank of Japan is seen as the broadest indicator of how Japanese businesses are performing
- Business confidence among major manufacturers dropped to plus one from plus seven three months earlier
Economy
Iraq and Jordan to set up economic city on common border
A joint economic city is going to come up on the Iraq-Jordan border and in this regard an international tender...
- The Iraqi-Jordanian Company for Industry, which will carry out the project, urged international companies to make a bid
- The economic city is expected to boost trade cooperation between the two countries and achieve integration in many fields
US, China to publish details of ‘substantial’ trade talks in Geneva
The US and China will Monday give details of "substantial progress" touted by Washington on trade talks aimed at ending...
Economy
Company News
Latest News
Dubai Investment posts profit
Business
Mawani reports rise in container handling
The growth aligns with the aims of national logistics strategy.
Business
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...
Economy
China’s economic recovery stalls as growth flags
The country's national bureau of statistics said that GDP grew 5.2 percent to hit 126 trillion yuan ($17.6 trillion) as...
Business
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Business
Counterfeit products cost Europe $13 billion, 200,000 jobs a year
Paris, France - Counterfeit products -- mainly clothes -- cost the European economy 16 billion euros a year and result in...
- The findings, based on data from 2018 to 2021, show that fakes take the biggest toll on the clothing sector, costing 12 billion euros ($13.1 billion) annually
- The bulk of the counterfeiting occurred in just five EU members, with Germany, France, Italy, Spain and Austria accounting for half the yearly losses
Opinion
AI revolutionizes UAE’s life sciences & healthcare
"By leveraging advanced data analysis techniques to process extensive datasets from diverse sources, including genomic data, scientific literature, and clinical...
- AI is transforming drug discovery, diagnostics, and personalized treatments, marking a new era in medical research.
- The UAE, especially Abu Dhabi, is setting global standards in longevity and healthcare integration for better future.
Geostrategy
Iran, India reach final agreement on Chabahar Port
Tehran, Iran – Iran and India on Monday finalized an agreement for the development of the strategic Chabahar port in...
- Chabahar Port, Iran's sole oceanic port on the Gulf of Oman, holds strategic importance both strategically and economically
- In May 2016, India, Iran, and Afghanistan signed a trilateral agreement for the Chabahar port, facilitating New Delhi's access to Kabul and Central Asia