Stocks sink again as Trump holds firm on tariffs
Trading floors across the globe were overcome by waves of further selling after last week's sharp losses, with Trump telling...
Business
Stocks, oil slump as China retaliates and Trump digs in heels
Despite the market turmoil, Trump insisted: "my policies will never change". Wall Street stocks fell more than two percent at...
Business
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.
Business
Silicon Valley Bank demise has markets jittery, analysts say no contagion risk
Officially closed and put into receivership by US authorities on Friday, SVB was at risk due to a heavy concentration...
- SVB's woes are the result of "idiosyncratic stresses and not one that we see as systemic that would affect the banking industry," said CFRA Research's Ken Leon
- A note from analysts at Morgan Stanley put it simply, saying, "We want to be very clear here ... we do not believe there is a liquidity crunch facing the banking industry."
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
Stocks sink again as Trump holds firm on tariffs
Trading floors across the globe were overcome by waves of further selling after last week's sharp losses, with Trump telling...
Business
Company News
Maaden posts net loss in Q3
Business
NMDC, AD Ports Group ink MoU
Business
Latest News
GCC eyes economic upswing, business growth in 2024
Despite last year's challenges, the region is set to see robust growth this year, led by the UAE, which is...
Economy
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
Most Read
Business
Bank takes over Amiantit subsidiary
The bank will absolve Amiantit of all its financial obligations.
- The debt being cleared constitutes approximately 50 percent of the total liabilities that Amiantit owes to various banks.
- Preliminary estimates suggest the company will recognize profits worth US$128 million as a result of this settlement.
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