Osaka Expo 2025 opens: World gathers amidst hope and global tensions
From quirky Hello Kitty algae sculptures to demonstrations of flying vehicles and lunar samples, the Osaka Expo offers a fascinating...
Geostrategy
World Bank approves $1.1 bn in financing for Jordan
The World Bank announced Tuesday it will provide Jordan with $1.1 billion in new financing to support economic reforms and...
Economy
Economy
Eco-friendly goods buck global downward trade slide: UNCTAD
Trade in such goods grew by around four percent in the second half of 2022, with their combined value hitting...
- Global trade surged to a record $32 trillion in 2022 before reversing course in the second half of the year amid deteriorating economic conditions and swelling uncertainties.
- UNCTAD said it expected green industries to boom further as countries scale up their efforts to cut emissions and battle global warming.
Business
Toshiba accepts $15bn buyout bid
The acceptance follows years of turmoil for the company.
- A consortium led by investment fund Japan Industrial Partners will be taking over Toshiba.
- Toshiba produces everything from rice cookers to medical equipment and nuclear plants.
Economy
Egypt and World Bank agree US$7bn, five-year partnership
Cairo, Egypt--The World Bank has approved a new $7 billion partnership agreement with Egypt for 2023-2027 with a focus on...
- According to the World Bank statement, the program will help create a level playing field for the private sector and to encourage investment and improve resilience to shocks
- Over the past year, Egypt's economy has been under severe pressure, after the fallout from Russia's invasion of Ukraine exposed underlying problems.
Economy
Vertical farming project launched in Abu Dhabi
Abu Dhabi, UAE--ADQ has launched a vertical farming project in partnership with ZERO, a technology company based in Italy. Dubbed...
- It is designed to enhance indoor farming locally and also to explore and push the boundaries of desert-climate farming in the UAE
- The joint project draws on the benefits of growing crops in vertical layers, which includes higher yield, shorter growing times and lower water usage
Economy
Gulf central banks mirror Fed to raise rates by 25 bps
The central banks of Saudi Arabia, Bahrain and Qatar raised their benchmark borrowing rates after the US Federal Reserve raised...
- The Saudi Central Bank, also known as SAMA, raised its repo and reverse repo rates by 25 bps each to 5.5 percent and 5 percent, respectively
- The Central Bank of the United Arab Emirates (CBUAE) will raise its base interest rate by 25 basis points to 4.9%, effective Thursday
Economy
Unity key for ‘transformational progress’ at COP28
“We have a short window of opportunity to deliver a system-wide transformation. But if we make the right investments, we...
- There is a need for accelerated pathways to net zero and critical finance across all pillars, says COP28 President-Designate Dr Sultan bin Ahmed Al Jaber
- He also reminds climate ministers of various countries about the approaching Global Stocktake at COP28 and calls for action to keep 1.5C within reach
Economy
Global recession fear may affect UAE’s hiring rate
Companies are spending more on employee salaries and retention, such as increasing insurance premiums and investing in employee benefits, says...
- Companies are spending more on employee salaries and retention, such as increasing insurance premiums and investing in employee benefits, Brian Habibi of Bayzat tells TRENDS
- Although the UAE has remained extremely resilient, the market is not immune to global economic conditions, adds the Co-Founder and Chief Customer Officer of the platform
Economy
Global financial woes may hit Europe, warns ECB chief Lagarde
The ECB president insisted, however, that if the most recent forecasts were confirmed, "we will still have ground to cover...
- International financial markets went into turmoil after recent crashing of three US lending banks and takeover of Credit Suisse.
- The ECB chief Christine Lagarde said that there was "additional uncertainty" when it came to the bank's projections.
Chip war and censorship hobble Chinese tech giants in chatbot race
A flurry of Chinese companies including Alibaba, JD.com, Netease and TikTok-parent Bytedance have rushed to develop services that can mimic...
- The popularity of ChatGPT in China - where users have to scale Beijing's internet firewall using VPNs - has left Baidu and others scrambling to regain its dominance on home turf
- China has announced ambitious plans to become a global leader in the field of AI by 2030, and McKinsey estimates the sector could add about $600 billion every year in China's GDP
Opinion
Optimal user experience crucial for hybrid workers
More than 60 percent of employees worldwide have chosen hybrid work structures, and over 66 percent of UAE employees prefer...
- More than 60% of employees worldwide have chosen hybrid work structures, and over 66% of UAE employees prefer to work from home, says an expert
- Remote workers face IT challenges that impede productivity, from UCaaS quality concerns to VPN access challenges, adds Gaurav Mohan of NETSCOUT
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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
Osaka Expo 2025 opens: World gathers amidst hope and global tensions
From quirky Hello Kitty algae sculptures to demonstrations of flying vehicles and lunar samples, the Osaka Expo offers a fascinating...
Geostrategy
Company News
Latest News
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
Saudi Exchange launches TASI50 Index tracking top 50 companies by market capitalization
Riyadh, Saudi Arabia – The Saudi Exchange has announced the launch of the TASI50 Index, which tracks the top 50 companies...
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...
Economy
Most Read
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
Economy
Qatar rises as a premier sports tourism destination
“In addition to hosting a variety of sports events, especially the FIFA World Cup Qatar 2022, Qatar has shown the...
- Qatar has emerged as a top sports tourism destination with advanced infrastructure and facilities.
- The Gulf country boasts its successful hosting of FIFA World Cup 2022, voted the best this century.
Economy
Qatar National Bank forecasts world economic growth to be 2.9% in 2024
Doha, Qatar--Qatar National Bank (QNB) expects the global economic growth to be around 2.9 percent in 2024, roughly the same...
- QNB said that its view is more bullish than others as the bank believes the global economy to expand by 2.9 percent roughly the same rate as last year
- It believes the US economy would slow down as the US fiscal thrust is set to decelerate from a positive 1.9 percent in 2023 to a negative 1.4 percent in 2024