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
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...
Science
Business
Deliveroo 2022 loss at $355m
The firm's revenue rose 14 percent to nearly US$2.4 billion.
- Deliveroo exited Australia and the Netherlands in 2022, after departing from Spain in 2021.
- The company expanded into Qatar last year as it pursues a growth plan of action in Middle East.
Business
JCC discusses trade, commerce in economic summit in France
AMMAN, JORDAN - The Jordan Chamber of Commerce (JCC) took part in the fourth Arab-French Economic Summit 2023 in Paris....
- Jordan Chamber of Commerce spoke of closer ties with trade and commercial bodies in the European Union member states.
- Topics like environment and water, industry, modern construction projects, food, nutrition, healthcare, banking, medicine, funds, climate were discussed.
UAE to invest $30bn in South Korea over the next few years
Abu Dhabi, UAE – The United Arab Emirates will invest $30 billion in South Korea over the next few years,...
- Korean FDI in the UAE totaled USD2.2 billion up until the beginning of 2021, reflecting a 73 percent growth
- These investments are mostly concentrated in finance, insurance, mining, retail, real estate, energy and technology sectors
Economy
World Food Program warns funding gaps threaten Yemen food aid
In order to reinstate full food rations for millions in Yemen, the WFP has said that it requires more than...
- WFP regional director Corinne Fleischer said that WFP's requirements for Yemen are $3 billion until the end of the year in order to revert to full ration
- For almost nine years the war in Yemen has caused hundreds of thousands of deaths and has driven the country to the brink of famine
Economy
Saudi Arabia aims to diversify, double its economy
"The country continues to grow in various sectors such as the energy sector, including oil, gas, and renewable energy, which...
- The Kingdom has made significant progress in implementing its ambitious Saudi Vision 2030, says Investment Minister Khalid Al-Falih
- He urges the international community to take advantage of the opportunities available in the Kingdom and promote global cooperation
Economy
Stock markets sink on banking crisis fears, oil prices fall
Global markets have been rattled by the collapse of tech sector lenders Silicon Valley Bank and Signature, which forced US...
- Oil prices also dropped, with the main US contract WTI down more than 5% as it fell under $70 per barrel for the first time since Dec 2021.
- Shares of Credit Suisse, Switzerland's second biggest bank, crashed by more than 30 percent to hit a record low.
Business
October 2022 OPEC+ oil pact will stay the course, says Saudi energy minister
Riyadh, Saudi Arabia -- As uncertainty in the global economy is limiting clarity about the outlook for oil markets, the...
- Prince Salman said that sticking to the October agreement is the "sensible and only course of action” for OPEC and its allies.
- He said Saudi Arabia has proactively embarked on expanding our capacity to 13.3 million barrels a day by 2027.
Economy
Indian, UAE cooperating in green hydrogen development: Indian minister
New Delhi, India -- India’s Minister for New, Renewable Energy and Power, R K Singh said on Tuesday that India...
- The UAE's expanded cooperation with India in clean energy aims to support New Delhi's ambition to achieve 450 gigawatts of renewable energy
- R K Singh said that the bilateral cooperation in renewable energy, similar to the UAE, is being promoted with Australia, Finland and Germany
Interview
‘European Space Agency to intensify cooperation with UAE’
"I have decided to send a group of people from my ESA team to the UAE to see which domains...
- Aschbacher says ESA's plan is to establish navigation and communication around the moon and on the moon surface, just like having a mobile phone on Earth
- He believes unifying people is one of the beauties of space exploration, besides developing technology, attracting young talents, fostering stem education, and economic growth
Economy
Fusion energy will be game-changing viable energy source
Private sector partners can leverage the scientific work done in public laboratories to develop the technology needed for fusion power...
- Private sector partners can leverage the scientific work done in public laboratories to develop the technology needed for fusion power plant applications, says top US physicist
- The recent discovery in inertial confinement fusion marks a significant milestone in the development of fusion energy as a viable energy source, highlights Kimberly Budil
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
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
Company News
Ducab, Somagec ink MoU
Business
Latest News
Maaden posts net loss in Q3
Business
NMDC, AD Ports Group ink MoU
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...
Business
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
YEARBOOK 2023
45 percent of Saudi employees work over 40 hours per week
Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...
Business
Most Read
Geostrategy
5 WEF reports shaping your 2024 agenda
From AI to the future of jobs and slow climb to gender parity, WEF reports provide insights into some of...
- Buffeted by a global energy crisis, inflationary pressures and geopolitical instability, the move to clean energy has faced a challenging time.
- This year's top 10 emerging technologies will likely become increasingly familiar in the years ahead as they help tackle some of our biggest challenges.
Economy
China factory activity decline deepens in December
The National Bureau of Statistics (NBS) said, "In December... the level of vitality in the manufacturing sector somewhat declined." In...
- The official manufacturing purchasing managers' index (PMI) stood at 49.0 in December
- It signaled a further slump from November's figure, representing the third month of contraction
Economy
UAE looks to support farmers to boost sustainability of food sector
Dubai, UAE--The UAE leadership places utmost importance on supporting farmers to enhance the sustainability of the agricultural and food sector,...
- The farmers' council looked to identify the needs of the farmers to increase domestic productivity and thereby optimise imports
- The minister said that one of the key goals of the UAE is to make agricultural systems more sustainable and climate-smart