Chief Economists warn global growth under strain from trade policy shocks and AI disruption
The global economic outlook has worsened since the start of the year, as rising economic nationalism and tariff volatility fuel...
Economy
Trump threatens Apple with a 25% tariff if iPhones aren’t made in US
Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones...
Business
Business
Business and leisure combo drives GCC tourism boom
Business travelers worldwide are drawn to the GCC countries due to their rapidly growing economies, strategic geographic locations, and ambitious...
- The region has positioned itself as a hub for a diverse range of travelers, including job seekers, investors, artists, and even those merely passing through
- The GCC is becoming a hub for major cultural and entertainment events, from art exhibitions and live concerts to sports events
Economy
Despite sanctions, Iran oil exports hit six-year high: report
Tehran, Iran - Iran managed to sell an average of 1.56 million barrels per day during the first quarter of...
- The success in oil exports highlights the challenges faced by the US and EU in their efforts to exert pressure on Tehran
- Iran's Oil Minister Javad Owji stated that oil exports generated over $35 billion in revenue in the previous year
Economy
Oil prices surge, Asian markets fall following Iran explosions
Oil prices surged more than three percent in early Asian trade, and Asian stock markets slumped by over 3 percent...
- West Texas Intermediate jumped 4 percent to $86 and Brent rose 3.9 percent to $90.5
- Asian stocks tumbled Friday, with Japan’s Nikkei slumping as much as 3.5 percent
From sand dunes to boardrooms: Strategies for success in challenging times
"Leadership teams must recognize that the livelihoods of their employees' families hinge on the stability of the business. Understanding that...
- When there is a significant decline in economic activity over a long period of time, retaining employees and attracting new talent also becomes difficult
- In smaller or medium-sized organizations, equipping your teams with the skills and knowledge to pivot products, services, and methodologies is crucial for instilling confidence
Economy
Low-pressure system eases over UAE: Dubai Airport delays remain
The Ministry of Interior has announced the end of the low-pressure weather system that wreaked havoc for many Dubai International...
- The UAE recorded its heaviest rainfall in the 75 years
- Dubai International Airport, a major travel hub, is barely functional
Economy
Equities sink, oil rallies on fears of Iran-Israel conflict
Stock markets fell and oil prices climbed Tuesday on growing fears of a wider war in the Middle East after...
- The selling came after Wall Street's three main indexes tanked
- Investors appeared to ignore figures showing China's economy grew 5.3 percent in Q1, 2024
Business
Special economic zones are a new craze in Middle East
Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business...
- In 2023, Saudi Arabia set up four new special economic zones, with incentives for international companies to operate within the kingdom
- SEZs are seen as catalysts for economic diversification, which offer platforms for innovation, entrepreneurship, and investment in non-oil sectors
Economy
Saudi Arabia surpasses homeownership goals, sets sights on 70% by 2030
The kingdom's housing program achieves remarkable success, surpassing targets and reducing waiting times from 15 years to immediate entitlement, revolutionizing...
- The housing program, which implements over 15 development initiatives and programs, successfully increased Saudi families' homeownership rate to more than 60% by 2023
- It also accomplished over 165,000 housing units and plans to provide 365,000 housing units over the next few years, with 95,000 units going to the most vulnerable families by 2025
Space economy set to triple to $1.8trn by 2035, reveals new research
The growth of the space industry will largely be built upon the increased reach of space-based and/or -enabled technologies, such...
- The growth will largely be due to space-based and -enabled technologies, such as communications positioning, navigation and timing.
- Space technologies are delivering greater value to a more diverse set of stakeholders than ever before, including in industries as varied as food and beverage, among others.
Economy
MENA region is leading the on-demand talent revolution: report
Agile work models and diverse skill demands propel MENA's freelance economy, empowering businesses to thrive amid modernization and digital transformation.
- MENA companies, particularly those in the IT, banking, finance, real estate, construction, energy, and hospitality sectors, actively embrace agile workforce models
- Emerging trends like Environmental, Social, and Governance (ESG) initiatives, data analytics, and procurement are expected to fuel the demand for local and international talent
Chief Economists warn global growth under strain from trade policy shocks and AI disruption
The global economic outlook has worsened since the start of the year, as rising economic nationalism and tariff volatility fuel...
Economy
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Analysis
Automakers lead market losses after Trump tariffs on imported vehicles
Wall Street's main indexes opened in the red, with General Motors sinking more than nine percent in early trading while...
Business
From cars to champagne: Trump’s expanding tariffs trigger trade war fears
Paris, France -- From champagne to steel and now cars: it is getting harder to keep up with US President...
Geostrategy
Lebanon cabinet appoints Karim Souaid central bank governor
Born in 1964, Souaid officially takes over after embattled former chief Riad Salameh's term expired in July 2023 with no...
Geostrategy
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Business
Stock markets rise on fresh hopes for Trump’s tariff approach
Investor sentiment has been jolted in recent weeks by fears that the president's hardball policies could deal a painful blow...
- Gold held at around $3,030 an ounce (28.3 grammes), having hit a series of records last week to a peak of more than $3,057 owing to a surge in demand for safe havens.
- Asian markets fluctuated through the day, with Tokyo falling while Hong Kong and Shanghai rose.
Science
EU skewers Google, Apple over tech rules – despite Trump threats
The European Union defied US threats of retaliation Wednesday by accusing Google of violating its digital rules -- which could...
- The moves risk opening up a new front in the already fraught relationship between the EU and President Donald Trump,
- Apple and Google responded that the EU risked European users' security and its moves would hinder innovation
Economy
AI, wealth management and trust: Could machines replace human advisors?
The future of wealth management lies in hybrid models, combining AI’s data-driven precision with human empathy and ethical oversight. While...
- By 2027, AI-driven investment tools are expected to become the primary source of advice for retail investors
- The question of AI’s impact on different factors and its overall implications is an important one to address.