Trump puts world on edge as ‘Liberation Day’ tariffs loom
Trump kept rivals and allies alike guessing about who would be targeted and by how much, but promised to be...
Economy
Trump announces 25% tariffs on foreign-built vehicles
US President Donald Trump has announced steep tariffs on auto imports and parts, provoking threats of retaliation from trading partners...
Economy
Economy
US Fed, other central banks move to boost global dollar liquidity
The central banks will step up so-called swap line operations, which give non-US central banks greater access to dollars. "To...
- The special drive will be launched Monday by the Fed and the central banks of Canada, the UK, Japan, the EU and Switzerland
- The announcement came hours after Switzerland brokered the UBS takeover of its troubled Swiss rival Credit Suisse
Saudi Arabia expands economic diversification plan
The Kingdom is making significant investments in new economic sectors, including mining, tourism, and information technology, particularly the electronic games...
- The Kingdom is making significant investments in new economic sectors, including mining, tourism, and information technology, particularly the e-game sector
- Saudi Arabia, which is seeking alternatives to crude oil revenues, is planning to invest US$37.8 billion in electronic gaming initiatives and programs through PIF
Geostrategy
UAE, Serbia discuss cooperation in R&D, innovation
BELGRADE, SERBIA - UAE Minister of State for Public Education and Advanced Technology Sarah Al Amiri discussed cooperation in research...
- The UAE minister discussed ways to enhance cooperation between the two nations in her visit to Serbia.
- She also discussed ways and means to strengthen the education system and vocational schools.
Business
Tadawul market cap vaults 477% to US$2.6trn over last 5 years: CMA
Riyadh, Saudi Arabia-- The market capitalization of Tadawul, the Saudi stock exchange, has shot up 477 percent to $2.6 trillion...
- Yazid Al-Dumaiji disclosed that there are almost 80 applications under review for initial public offering (IPOs)
- He said Tadawul witnessed a rise of 388% in foreign investments to reach a historical level of US$93 billion in 2022
Geostrategy
Former US President Donald Trump claims his arrest is imminent
Donald Trump called on his supporters to "protest, take our nation back", as he expects to be arrested over an...
- A conviction in the hush money case would not prevent Trump from running, but an indictment can have major consequences
- Denouncing Trump's announcement as "reckless, Nancy Pelosi said it would foment unrest among his supporters
Geostrategy
Ukraine grain deal extended, says Turkey’s President
Turkey announced the extension of a deal that has allowed exports of Ukrainian grain to resume following Russia's invasion, but...
- Turkey and the United Nations did not specify the duration of the grain deal.
- A deal brokered by Turkey and the United Nations in July 2022 - and signed by Kyiv and Moscow - had allowed for the safe passage og grain supplies.
Geostrategy
Reform of multilateral financial institutions must for climate action, says Dr Al Jaber
PARIS, FRANCE - COP28 President-Designate Dr. Sultan Al Jaber met French President Emmanuel Macron and outlined his vision on the...
- The UAE minister stressed on the need to deploy all necessary resources to transform the global energy systems.
- Dr. Al Jaber emphasized the need for ambitious reforms across international financial institutions and multilateral development banks.
Geostrategy
Jordan Chamber of Commerce, Hungarian envoy discuss economic ties
AMMAN, JORDAN - Vice President of the Jordan Chamber of Commerce (JCC) Jamal Rifai discussed with Hungarian Ambassador to Jordan...
- The joint Jordanian-Hungarian committee aims to present investment opportunities in the two countries.
- In 2022, Jordan's exports to Hungary was worth US$1.15 million and imports were US$34 million, as per official data.
Geostrategy
India looks to broaden partnership with GCC countries
New Delhi, India--India has stepped up multi-faceted consultations with GCC states ahead of the Group of Twenty (G20) Summit to...
- According to India's External Affairs ministry, the two countries reviewed bilateral ties in different domains and identified new areas of cooperation
- Oman is taking part in G20 as a special invitee with India inviting nine countries under the category
Economy
S&P, Moody’s revise Saudi Arabia’s outlook to ‘positive’
Riyadh, Saudi Arabia -- The global credit rating agency S&P Global Ratings updated its credit report for Saudi Arabia, raising...
- The agency highlighted the kingdom's strong real GDP growth of 8.7 percent in 2022, the highest among the G-20 economies
- It forecasts the non-oil sector to remain strong through 2026 due to service sector growth supported by the ongoing social reforms
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 puts world on edge as ‘Liberation Day’ tariffs loom
Trump kept rivals and allies alike guessing about who would be targeted and by how much, but promised to be...
Economy
Company News
Latest News
China’s new tariffs policy to hasten industrial transformation
Beijing, China -- China's import and export tariff adjustments on some goods took effect on Monday, including implementing provisional import...
Economy
Qatar’s industrial sector PPI down in Nov on lower oil prices
Doha, Qatar -- Qatar's Producer Price Index (PPI) of the industrial sector in the country for November was 118.65 points,...
Economy
Saudi Arabia launches skill verification program in Egypt
Riyadh, Saudi Arabia - Saudi Arabia, through its Ministry of Human Resources and Social Development (MHRSD), has initiated the first...
Economy
Most Read
Economy
Nationalization efforts transform Saudi workforce
Saudi Arabia's ambitious nationalization initiative has significantly impacted its labor market, with the Kingdom experiencing a historic low unemployment rate...
- Saudi Arabia's ambitious nationalization initiative has significantly impacted its labor market, with the Kingdom experiencing a historic low unemployment rate of 8.6%.
- The Kingdom's success on employment front is attributed to Vision 2030's strategic economic diversification and an increased focus on local workforce development.
Economy
GCC eyes economic upswing, business growth in 2024
Despite last year's challenges, the region is set to see robust growth this year, led by the UAE, which is...
- Despite last year's challenges, the region is set to see robust growth this year, led by the UAE, which is expected to top the economic performance with a 4% GDP growth.
- The Gulf region's growth is likely to be underpinned by technological advancements and a resilient banking sector, ready to navigate through global economic shifts.
Business
UAE announces reduction in fuel prices for January
ABU DHABI, UAE - The prices of petrol and diesel are set to decrease in the country in January following...
- This change reflects a continuous trend observed in the fuel prices over the past few months.
- September and October witnessing increases and November and December seeing reductions.