Apple expects $900 million hit from tariff war
Apple on Thursday reported first-quarter profit above expectations but warned that US tariffs could cost the company and were disrupting...
Economy
Trump trade war pushes firms to consider stockpiling
Even if they don't all acknowledge it so openly, firms in many different sectors are stockpiling their products in the United...
Business
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 Â - Â 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, Â JORDAN - Â 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
Economy
UAE consumer spending vaults 19% in 2022: Majid Al Futtaim
Dubai, UAE-- Consumer spending in the UAE has shot up 19 percent in 2022 as against the previous year, according...
- The country recorded its strongest annual GDP growth since 2006, jumping to 7.9 percent, from 3.9 percent in 2021
- Non-oil economy posted strong growth at 6.6 percent, lifted by government initiatives to lure investments and boost its tourism sector
Economy
Sustainable industries key driver of RAK economy
“Ras Al Khaimah has adopted a clear long-term strategy based on establishing a balanced multi-resource economy,” he adds during a...
- Ras Al Khaimah's economic flexibility has enabled it to adopt sustainable plans that will enhance its competitiveness, says its ruler Sheikh Saud bin Saqr Al Qasimi
- He emphasizes the importance of promoting the culture of sustainability in all sectors, calls sustainable industrial sector a crucial driver of the national economy
Economy
Road to GCC smart cities viable, but not hurdle-free
Integrating smart roads and sustainable construction in GCC smart cities requires technical proficiency like data analytics, sensor technologies and software...
- Integrating smart roads and sustainable construction in GCC smart cities requires technical proficiency like data analytics, sensor technologies and software skills, says an expert
- Smart roads offer numerous benefits, including reducing carbon emissions, improving road safety, creating new jobs, promoting more efficient mobility, and reducing congestion
Business
Abu Dhabi-Japan Economic Council reviews growth in bilateral trade and investments
TOKYO, JAPAN - The ninth session of the Abu Dhabi-Japan Economic Council (ADJEC) here has reaffirmed its commitment to further...
- In 2022, the bilateral trade between the UAE and Japan rose 57.5 percent to exceed US$54 billion.
- UAE exports to Japan grew 69.7 percent to US$45.9 billion compared to US$27 billion in 2021.
Apple expects $900 million hit from tariff war
Apple on Thursday reported first-quarter profit above expectations but warned that US tariffs could cost the company and were disrupting...
Economy
Company News
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Saudi Arabia raises mineral resources estimates to $2.5 trillion
The Kingdom raised its mineral resources estimates from $1.3 trillion in 2016 on the exploration of nearly 30 percent of...
Business
WEF 2024 aims to bridge trust gaps amid global discord
Geneva, Switzerland - The World Economic Forum Annual Meeting 2024 is set to gather over 2,800 global leaders in Davos-Klosters,...
Economy
Arab region faces soaring youth unemployment crisis
The region, with the world's highest youth unemployment rate, requires the creation of 33.3 million jobs by 2030 to accommodate...
Economy
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Economy
Boost investment to avert ‘decade of wasted opportunity’: World Bank
Global growth is set to slow from an estimated 2.6 percent in 2023 to 2.4 percent this year, 0.75 percentage...
- Growth in advanced economies is expected to slow to just 1.2% this year, while emerging market and developing economies should see growth ease slightly to 3.9%.
- After seeing reasonable growth in 2023, the United States and China -- the world's two largest economies -- are both likely to slow in the year ahead, the World Bank said.
Business
Bitcoin surpasses $47,000, first time since March 30, 2022
Abu Dhabi, UAE - Bitcoin surged above $47,000 on January 9, marking its highest value since March 30, 2022, as...
- Bitcoin, originating in 2008 under the pseudonym Satoshi Nakamoto, operates as a decentralized digital currency
- The robust trading volumes in Bitcoin mining firms signal a heightened investor interest, underlining the increasing prominence of cryptocurrencies
Economy
Dubai leads MENA region in urban mobility readiness
The emirate ranked 28th globally in the 2023 Urban Mobility Readiness Index, highlighting its efforts in creating a sustainable, future-ready...
- The emirate ranked 28th globally in the 2023 Urban Mobility Readiness Index, a testament to its efforts in creating a sustainable, future-ready transportation ecosystem.
- Abu Dhabi climbs to 38th position, and Riyadh to 53rd in the Index, showcasing GCC's focus on sustainable urban mobility despite challenges faced by the region.