Trump’s global tariff takes effect in dramatic US trade shift
US President Donald Trump's widest-ranging tariffs to date took effect Saturday, in a move which could trigger retaliation and escalating...
Economy
Trump stings friends and foes alike in his tariffs war, countries eye trade talks
The tariff announcements rattled stock markets while safe haven gold hit a new record high, oil prices fell and the...
Economy
Economy
New national carrier part of Saudi bid to become a business, tourism magnet
This month Crown Prince Mohammed bin Salman, unveiled Riyadh Air, the new airline which is intended to transform the capital...
- Apart from Riyadh Air, Saudi Arabia is also launching NEOM Airlines, to be based in the planned $500 billion futuristic megacity of the same name
- The trade group Airports Council International predicts the region's airports will see 1.1 billion passengers by 2040, up from 405 million in 2019
Business
Global Carbon Council, EGX sign MoU to launch voluntary carbon market
Doha, Qatar--The Doha-based Global Carbon Council (GCC) and Egyptian Exchange (EGX) have signed a memorandum of understanding (MoU) to launch...
- EGX will list carbon credits issued by GCC, widening offerings to investors looking for a diversified portfolio of CCs
- They will also collaborate on development initiatives aimed at improving the efficacy of carbon offsetting mechanisms
Economy
UAE okays 24 initiatives to double re-export industry by 100%
Abu Dhabi, UAE--The UAE government has endorsed 24 national initiatives to double the country’s re-export industry by 100 per cent...
- The cabinet approved the hosting of the IUCN World Conservation Congress 2025, which is set to draw 10,000 environmental experts and specialists from 160 countries
- It will demonstrate the country's commitment to sustainable economic development and preserving the environment for future generations
Science
Regular, medium-risk adults don’t need extra Covid jabs: WHO
The WHO's vaccine experts are no longer recommending additional Covid-19 vaccine booster doses for regular, medium-risk adults because the benefit...
- The updated recommendations were issued after the UN health agency's Strategic Advisory Group of Experts on Immunisation had its regular biannual meeting
- The additional booster shots are recommended by SAGE after the first one only for people at the highest risk of developing severe Covid-19 disease
Business
UAE, Costa Rica start talks to form economic partnership agreement
UAE minister said that the emirates will continue its efforts to build partnerships with strategic global markets under the country’s...
- The trade and investment exchanges between the two countries continue to grow as the non-oil trade reached $58.7 million in 2022
- The UAE’s investments in Costa Rica span sectors such as IT, tourism, retail, advertising, media, real estate, renewable energy, air transport, and logistics.
Economy
Bahrain posts highest real GDP growth in nearly a decade
The kingdom witnessed 6.2 percent non-oil real GDP growth, the highest since 2012 and higher than the 5 percent annual...
- The kingdom also reported a drop in deficit to GDP to -1.1 percent, a drop in debt to GDP to 100 percent and a primary surplus of 3.3 percent.
- The Economic Recovery Plan is one of Bahrain’s biggest programs, with over $30 billion catalyzed for investment and reforms made to improve ease of doing business.
Egyptians cling to Ramadan charity as inflation soars
Families have buckled under the weight of inflation, which hit 32.9 percent in February as Egyptians tried to fill their...
- For many families, Ramadan boxes of food staples or daily charity iftar meals, organised in droves across the country are their only chance to eat meat or chicken
- Before Ramadan began, the charities upon which tens of millions of Egyptians depend raised the alarm that they were struggling to meet more people's needs
Business
Binance, crypto firm, hit with US charges for violating trade rules
The charge sheet accuses Binance of failing to uphold standards that are required of a company operating as a derivatives...
- CFTC chairman said the charges against Binance were part of a campaign to find and stop misconduct in the volatile and risky digital asset market
- The allegations targeted Binance founder Changpeng Zhao, also known by his Twitter handle CZ, and three entities that make up his crypto empire
Economy
Russian oil sales to India surge as European buyers turn to other markets
Moscow, Russia--Russian oil sales to India surged more than twentyfold last year as European buyers turned to other markets following the...
- When EU nations began ending thier reliance on Russian energy supplies, Moscow shifted its oil exports to India and China
- Compared to last year, Russia's oil-export revenue dropped by almost half in February, according to the International Energy Agency
Business
Qatar opens new derivatives market, investors can trade options, futures
Doha, Qatar--Qatar's bourse intends to open a new derivatives market that will allow investors to trade options and futures on...
- The country's financial regulator has issued a new regulatory framework for listed derivatives after a long consultation with investors and market participants
- Qatar is now focused on building its equities market by opening it up to a wider investor base and introducing more listings
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
Trump’s global tariff takes effect in dramatic US trade shift
US President Donald Trump's widest-ranging tariffs to date took effect Saturday, in a move which could trigger retaliation and escalating...
Economy
Company News
Al Ansari 9M profit US$105m
Business
Latest News
ADIB issues green sukuk
Business
Saudi Arabia tops MENA in venture capital investment in 2023
Riyadh, Saudi Arabia - Saudi Arabia achieves first rank across MENA for the first time in terms of the amount...
Saudi Arabia, Belarus ink MoU to boost trade, investment
RIYADH, SAUDI ARABIA - The Federation of Saudi Chambers and the National Center for Marketing and Price Study at the...
Geostrategy
Dubai SME joins hands with CXDA to attract investment
DUBAI, UAE – The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), a part of Dubai...
Business
Most Read
Economy
Japan quake death toll jumps to 161, 103 missing
According to authorities in the central Ishikawa region hit by the 7.5-magnitude quake, the number of people unaccounted for fell...
- The rescue work is being complicated by roads cut off by the quake and landslides.
- Around 20,700 households in the wider Ishikawa region remain without electricity
Business
Utilizing AI is only possible if skill gap is bridged, says expert
DUBAI, UAE - The Artificial Intelligence (AI) revolution is upon us, with AI becoming a pervasive force in our daily...
- As the rate of AI adoption increases, humans are essential to guiding the technology’s implementation and usage of these technologies.
- Executives estimate that up to 40 percent of their workforce may need to reskill as a result of implementing AI or automation over the next three years.
Geostrategy
UK announces Europe’s first high-tech uranium fuel plant
HALEU fuel is needed to power many of the next generation of advanced nuclear reactors, including so-called small modular versions...
- UK government said it would invest $382 million building a high-assay low-enriched uranium programme that would help "displace" Moscow from global energy mar
- The British investment is part of plans to deliver up to 24 gigawatts of electricity from nuclear power by 2050, a quarter of the United Kingdom's electricity needs