Middle East conflict slows global growth outlook, World Bank says
Most economies saw forecasts downgraded as rising energy costs, inflation and borrowing expenses create fresh challenges for growth and development...
Geostrategy
Microsoft data highlights Qatar’s rapid Artificial Intelligence growth
The finding place Qatar among the top ten countries globally for practical AI usage. Qatar's AI market reached approximately $59...
Business
Economy
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...
- Cook said he expected "a majority of iPhones sold in the US will have India as their country of origin."
- Tit-for-tat exchanges have seen hefty US levies imposed on China, with Beijing setting retaliatory barriers on US imports
Economy
Slower growth expected in MENA region in 2025: IMF
"Growth is still projected to increase in 2025 and 2026, but at a considerably slower pace than anticipated last October,"...
- The lender lowered growth projections from 4 percent to 2.6 percent for 2025, and from 4.2 percent to 3.4 percent for 2026.
- In 2024, average growth in the region slowed to 1.8 percent -- from 2.1 percent the year before -- due to "ongoing conflicts and extended voluntary oil production cuts".
Economy
US reaching out to China for tariff talks: Beijing state media
United States officials have reached out to their Chinese counterparts for talks on vast tariffs that have hammered markets and...
- Punishing US tariffs that have reached 145 percent on many Chinese products came into force in April, while Beijing has responded with fresh 125 percent duties on US imports
- Beijing has vehemently denied any talks are taking place while repeatedly urging the United States to engage in dialogue in a "fair, respectful and reciprocal" manner
Economy
Global stocks mostly rise as Trump grants auto tariff relief
Stocks moved sideways on Monday after notching four straight positive sessions last week as Trump adopted a more conciliatory posture...
- Trump's pivot includes limitations on the impact of multiple tariffs on carmakers and a measure to allow carmakers to offset a portion of the levy for two years
- Investors are "encouraged by the Trump decision to be a little more flexible (...) with the autos," said CFRA Research's Sam Stovall, who predicted stocks could go higher
Geostrategy
Saudi Arabia and Qatar to settle Syria’s World Bank debt
Riyadh, Saudi Arabia -- Saudi Arabia and Qatar announced on Sunday that they would settle Syria's debt to the World...
- Both Gulf states have played a key role in the diplomatic outreach to Syria's new rulers since the ouster of longtime strongman Bashar al-Assad in December.
- The statement came just days after Syria's central bank governor and finance minister attended the IMF and World Bank spring meetings for the first time in more than 20 years.
Business
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...
- Whether it's the luxury, electronics or pharmaceutical sectors, US President Donald Trump's unpredictability complicates the calculations of firms.
- Some companies didn't wait for Trump's April 2 announcement of massive "reciprocal" trade tariffs: they had already begun shipping more of their goods to the United States.
Economy
Tariff war: Xi says China must ‘overcome’ AI chip challenges
Beijing, China - President Xi Jinping said China must "overcome" the challenges of developing core AI technologies including high-end chips,...
- China aims to dominate the artificial intelligence sector, a goal complicated by the trade standoff with Washington
- Since the launch of ChatGPT in November 2022, generative AI models have proliferated in the United States and China
Economy
IMF, World Bank welcome efforts for Syria to reintegrate globally
Washington, United States - The International Monetary Fund and World Bank's leaders said in a joint statement Thursday that they...
- The statement, issued with Saudi Arabia's finance minister, came as Syria's central bank governor and finance minister attended the IMF and World Bank's spring meetings
- Significant amounts of Syria's infrastructure have been destroyed by 14 years of war, beginning with a crackdown by president Bashar al-Assad on a pro-democracy movement
Geostrategy
Lebanon parliament approves changes to banking secrecy law
Beirut, Lebanon -- Lebanon's parliament on Thursday approved amendments to banking secrecy legislation, a key reform demanded by the International...
- The international community has long demanded major fiscal reforms to unlock billions of dollars in aid to restart the Lebanese economy in the wake of a five-year economic collapse
- The crash since 2019 has seen the local currency lose most of its value against the US dollar and has pushed much of the population into poverty.
Economy
The game of ‘chicken’ being played with the world economy can be brought to a cooperative end
A meaningful “G3” accord between the US, Europe, and China must include coordinated fiscal, monetary, development, and trade policies. From...
- The hardline positions of the US and China on trade and tariffs are putting the world economy at risk, writes Richard Samans
- Yet, Europe could broker a 'positive off-ramp' that fires on all of the cylinders of international cooperation
Middle East conflict slows global growth outlook, World Bank says
Most economies saw forecasts downgraded as rising energy costs, inflation and borrowing expenses create fresh challenges for growth and development...
Geostrategy
Company News
Latest News
“New Suez Canal on rails”: Egypt high-speed trains to connect Red Sea, Mediterranean
Workers have started laying tracks in the desert east of Cairo for Egypt's first high-speed train, which will link the...
Economy
UAE builds resilient economy outpacing skeptics and shocks
From the 1980s onward, the federal government and individual emirates launched broader diversification and liberalization programs to reduce reliance on...
Economy
US launches pact for AI supply chains with key Asia-Pacific allies to face China
The United States signed an agreement on the supply chains with key Asia-Pacific allies concerned about China's growing clout --...
Economy
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Economy
Qatar’s economic momentum accelerates as diversification gains global recognition
However, Qatar faces downside risks from a deeper global economic slowdown that could weaken energy demand and LNG prices amid...
- World Bank, Standard Chartered, and Moody’s highlight Qatar’s resilience, strong GDP outlook, and rising non-hydrocarbon strength
- Backed by digital transformation, AI investment, and stable credit ratings, Qatar’s non-oil sectors lead regional growth
Economy
Saudi powers forward with deficit spending to fund diversification of its oil-dependent economy
Saudi Arabia greenlit its 2026 budget Tuesday, projecting a deficit of 165 billion riyals ($44 billion) as the kingdom presses...
- The Arab world's largest economy is overseeing a major push to slash its dependence on oil revenues, with officials pouring billions into projects to attract investment and tourism
- The budget figures will be keenly watched by energy industry experts, with the hopes of gleaning insights into where Saudi Arabia expects oil revenues to head in the near future
Economy
Kuwait rises on the strength of collaboration: Airlines deal and sweeping reforms fuel economic revival
In addition, Kuwait hosted a major joint meeting between the GCC and the United Kingdom in October focused on a...
- As S&P upgrades Kuwait’s credit rating and non-oil sectors surge, the country’s 2025 policy strategy proves that collaboration can be a catalyst for long-term sustainable growth
- Major fiscal reforms, new regional agreements, and a booming non-oil economy position Kuwait for stronger investment flows and renewed global confidence