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...
Economy
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...
Geostrategy
Economy
OPEC projects world oil demand to average 101.9 mb/d in 2023
Vienna, Austria – The Organisation of the Petroleum Exporting Countries (OPEC) projected oil demand to grow by a healthy 2.3...
- The world economic growth forecast for 2023 is expected at 2.6% y-o-y, following growth of 3.2% in 2022
- On crude oil futures prices, OPEC said, the prospect of oil demand recovery in China limited futures price losses
Economy
UAE and Japan look to widen economic, trade, investment ties
Tokyo, Japan--The UAE and Japan are looking to increase economic, trade and investment cooperation, and explore new economic opportunities of...
- Al Zaabi exhorted Japanese companies to utilize opportunities in Abu Dhabi and benefit from the UAE's position as a gateway to the Middle East, Africa, and South Asia
- Kodaira said that the meeting comes at a time when Japan and the UAE are beginning a new half-century of economic cooperation in different fields
Economy
Is Saudi Arabia considering three-day weekend?
The Kingdom is analyzing the new work structure to enhance job creation and make the labor market more appealing to...
- The Kingdom is analyzing the new work structure to enhance job creation and make the labor market more appealing to domestic and foreign investors, reports suggest
- If Saudi Arabia follows suit, it would be the second Arab country after the UAE to institute a shortened workweek. At present, the Kingdom applies a system of five working days
Economy
Morocco joins Spain, Portugal to launch bid for 2030 World Cup
Morocco has joined the bid by Spain and Portugal to host the centenary World Cup in 2030, according to its...
- South Korea and Japan in 2002 shared the competition, and in 2026, the finals will be played in the US, Mexico and Canada
- Morocco, in December in Qatar, became the first nation from either Africa or the Arab world to reach the semi-finals
Economy
US consumer inflation high, Federal Reserve under stress
US consumer inflation edged down in February but remains elevated, according to government data, adding pressure to the Federal Reserve...
- Between January and February, the consumer price index rose 0.4 percent, slowing from the month prior as well.
- The food index in February remains nearly 10 percent above last year's level, with prices of dining out still high.
Business
UAE has incredible position in the world: Salesforce CEO
All industries and businesses should focus on net zero emissions, nature positivity, net zero business and eventually a net zero...
- All industries and businesses should focus on net zero emissions, nature positivity, net zero business and eventually a net zero world, Salesforce chief Marc Benioff tells TRENDS
- Benioff advocates for global commitment to green initiatives, net zero emissions, and has expedited One Trillion Tree initiative to tackle climate change
Geostrategy
Grain deal talks ongoing after Russian proposal, says UN
Consultations to prolong Ukrainian grain exports deal are continuing, the UN said, after a Russian proposal for just a 60-day...
- Russia had agreed to extend the deal which is due to expire on Saturday, for 60 days.
- Ukraine said that "contradicts" the original agreement but did not reject the proposal.
Economy
UAE GDP grew by 7.6%, FDI flows surged to $172bn in 2022: Minister
New Delhi, India - The GDP of the UAE went up by 7.6 percent in 2022 and the FDI inflows...
- The country’s non-oil foreign trade also witnessed unprecedented growth as it crossed the $0.5 trillion and $59 billion mark, Bin Touq said
- Economic fragmentation is likely to cost us dearly because the greater the fragmentation of trade, the greater the economic costs, he added
Business
UAE issues license for electric vertical takeoff and landing aircraft
DUBAI, UAE - The UAE Regulations Lab has issued a license for an electric cargo aircraft to promote eco-friendly transportation...
- The license aims at reducing carbon emissions by encouraging the adoption of clean energy and leveraging technology.
- It also aims at using innovation to redefine the logistics sector's future and its impact on the environment and climate.
Economy
Lebanese pound plunges 100,000 to dollar as banks go on strike
Officially pegged at 15,000 to the dollar, the pound was trading at 100,000 against the greenback, dealers said -- a...
- The currency plunge has triggered price hikes including on fuel, food and other basic goods, with supermarkets this month starting to price items in dollars.
- Despite the gravity of the crisis, the political elite, which has been widely blamed for the country's financial collapse, has failed to take action.
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...
Economy
Company News
Latest News
Dubai SME joins hands with CXDA to attract investment
DUBAI, UAE – The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), a part of Dubai...
Business
Saudi Exchange launches TASI50 Index tracking top 50 companies by market capitalization
Riyadh, Saudi Arabia – The Saudi Exchange has announced the launch of the TASI50 Index, which tracks the top 50 companies...
Economy
Japan quake death toll jumps to 161, 103 missing
According to authorities in the central Ishikawa region hit by the 7.5-magnitude quake, the number of people unaccounted for fell...
Economy
Most Read
Geostrategy
UK announces Europe’s first high-tech uranium fuel plant
HALEU fuel is needed to power many of the next generation of advanced nuclear reactors, including so-called small modular versions...
- UK government said it would invest $382 million building a high-assay low-enriched uranium programme that would help "displace" Moscow from global energy mar
- The British investment is part of plans to deliver up to 24 gigawatts of electricity from nuclear power by 2050, a quarter of the United Kingdom's electricity needs
Economy
Qatar rises as a premier sports tourism destination
“In addition to hosting a variety of sports events, especially the FIFA World Cup Qatar 2022, Qatar has shown the...
- Qatar has emerged as a top sports tourism destination with advanced infrastructure and facilities.
- The Gulf country boasts its successful hosting of FIFA World Cup 2022, voted the best this century.
Economy
Qatar National Bank forecasts world economic growth to be 2.9% in 2024
Doha, Qatar--Qatar National Bank (QNB) expects the global economic growth to be around 2.9 percent in 2024, roughly the same...
- QNB said that its view is more bullish than others as the bank believes the global economy to expand by 2.9 percent roughly the same rate as last year
- It believes the US economy would slow down as the US fiscal thrust is set to decelerate from a positive 1.9 percent in 2023 to a negative 1.4 percent in 2024