Stock markets rise on fresh hopes for Trump’s tariff approach
Investor sentiment has been jolted in recent weeks by fears that the president's hardball policies could deal a painful blow...
Business
US Fed likely to keep rates steady as uncertainty over Trump’s economic policies looms
Since January, Trump has imposed levies on major trading partners Canada, Mexico and China, and on steel and aluminum imports,...
Economy
Economy
After SVB fall, US regulators shut down crypto-focused Signature Bank
Signature Bank was reeling from a bet on crypto banking that foundered after the sector imploded and banking regulators cracked...
- Signature Bank's collapse is the third in under a week after Silvergate Bank's voluntary liquidation and Silicon Valley Bank's shutdown
- The closure of the bank comes months after Signature said it would be reducing its exposure to the crypto sector
Economy
King Abdullah’s daughter marries a Greek-origin financier
Princess Iman, the eldest daughter of King Abdullah and Queen Rania, has wed a financier of Greek origin at a...
- The groom born in 1994 in Venezuela to a family of Greek origin works as a financier in New York
- The princess born in 1996 graduated from Georgetown University in Washington
Economy
Uncertainty haunts macroeconomy, says US professor
Significant technology development is going on in the climate space in the UAE, distinguished Professor Laura D'Andrea Tyson tells TRENDS...
- Economists expect more interest rate increases and a fairly significant chance of a recession, says Laura D'Andrea Tyson of University of California
- The UAE's significant technology development in the climate space will reduce carbon emissions and generate alternative energy, she adds
Geostrategy
UAE, Ukraine keen on parliamentary, economic ties
MANAMA, BAHRAIN - Speaker of the UAE Federal National Council Saqr Ghobash discussed ways to enhance cooperation with First Deputy...
- UAE, Ukraine discuss parliamentary cooperation through exchanging visits and enhancing coordination.
- The two sides deliberated on improving trade and economic ties between the two countries.
Videos
Real estate, e-commerce to push UAE growth
Global economic challenges have led the UAE to review priorities and investment trends, with a focus on five key sectors:...
- The UAE economy recorded its fastest growth rate in over a decade despite the global economic slowdown.
- The IMF expects the UAE’s non-oil economy to grow by about 4 percent in 2023 and accelerate over the medium-term.
Economy
China retains Yi Gang as central bank chief to revitalize economy
The Chinese government has confirmed Yi Gang as governor of the People's Bank of China, against expectations that retirement-age Yi...
- At a meeting of China's rubber-stamp national legislature to appoint the country's new cabinet, Yi Gang was confirmed as governor of the People's Bank of China
- Xi has stacked the top levels of government with loyalists as he cements his grip on power, with trusted ally Li Qiang confirmed as premier on Saturday
Business
SVB failure unnerves USDC, other cryptocurrencies
The FDIC on Friday took over SVB, a major lender to the tech world, in the second-largest bank failure in...
- It is widely believed that the process of liquidating the bank's assets can drag on for a long time, with no certainty of just how much will be recovered
- As per the California Department of Financial Protection and Innovation withdrawal orders from SVB reached a breathtaking $42 billion
Economy
Iraq impounds three million captagon pills on Syrian border
Iraq has scuttled a big smuggling operation of bringing into the country a large consignment of three million pills of...
- In recent months, Iraqi security forces have ramped up operations against such smuggling bids, with several high-profile drug seizures reported
- Iraqi police, a few weeks ago, announced a big seizure of more than six million pills of the stimulant in a major drug bust
Economy
‘This year will be difficult for global economy’
Around one-third of countries are likely to go through a recession, Sir Masood Ahmed, President of the Center for Global...
- One-third of the world is expected to go through a recession in 2023 due to slowing economies, high inflation, and other factors
- Oil-exporting countries are likely to be less impacted, while big importers of oil, gas, food, and fertilizers may face more difficulties
Geostrategy
Li Qiang confirmed as China’s premier by parliament
Li Qiang, one of Chinese President Xi Jinping's trusted allies, was confirmed as premier, as Xi cements his influence on...
- Li Qiang received nearly every vote from the over 2,900 delegates at the National People's Congress.
- Journalists were asked to leave the chamber as deputies, mostly dressed in dark suits, marked their ballots.
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
Stock markets rise on fresh hopes for Trump’s tariff approach
Investor sentiment has been jolted in recent weeks by fears that the president's hardball policies could deal a painful blow...
Business
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Arab Bank posts net profit
Business
Tunisia, Saudi Arabia sign 7 MoUs in various sectors
Tunis - Tunisia and Saudi Arabia signed seven memoranda of understanding in various fields and sectors on Wednesday afternoon The...
Economy
UAE’s hiring landscape sees rise in homegrown talent
"The challenge today is not just in assimilating this fresh talent but in bridging the gap between them and the...
Economy
GCC forges ahead in sustainable tech initiatives
In 2023, the Gulf countries made a strong push towards renewable energy and pioneering green hydrogen projects, signaling a significant...
Business
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Economy
Oman year-on-year growth rate touches 15.4 percent
Muscat, Oman - Oman's achieved a 15.4% year-on-year sector growth, as reported by the National Center for Statistics and Information...
- The growth revolves around a rapidly evolving landscape, propelled by strategic investments and diversification endeavors.
- Omani Maritime freight was at the forefront, commanding a significant 54.8% share of all inbound goods in 2022.
Economy
Bahrain economy posts 2.45% growth in third quarter of 2023
Manama, Bahrain--National accounts estimates issued by the Information eGovernment Authority of the Kingdom of Bahrain showed that the real GDP...
- According to the report, the jump in growth is due to the surge in the non-oil sector by 4.48 percent at constant prices and 4.81% at current prices on an annual basis
- The gross domestic product at constant prices reached $9.15 billion during the third quarter of 2023 compared to $8.79 billion during the same period of 2022.
Economy
Morocco doles out aid to low-income families
The launch comes a decade after the social benefits program was proposed, and as part of an overhaul of social...
- Beneficiaries will receive a direct monthly payment starting at 500 dirhams ($50)
- The aid to families was expected to cost Morocco $2.52 billion through 2024