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
Trump eyes ‘fair deal’ with China, but path to ending tariff war remains unclear
Trade tensions between the world's two biggest economies have soared as Trump ramped up levies on imports from China this...
Economy
Infographics
UAE, Qatar least corrupt Arab nations
The 2022 Corruption Perception Index says corruption is undermining democratic processes and fueling violence in the Middle East and North...
- The CPI ranks180 countries and territories around the world by their perceived levels of public sector corruption on a scale of 0 (highly corrupt) to 100 (very clean).
- With a score of 90 and 87 respectively, Denmark and Finland top the CPI, while Somalia and Syria hit rock bottom with a score of 13 and 12 respectively.
Geostrategy
Russia agrees to grain export deal extension for 60 days
Russia has agreed to extend the Ukraine grain export deal following talks with the United Nations - but only for...
- The grain export deal has helped ease the global food crisis triggered by Russia's full-scale invasion of Ukraine in February 2022.
- The invasion saw Ukraine's Black Sea ports blocked by warships until a deal signed in July allowed for the safe passage of exports of critical grain supplies.
Geostrategy
UN investigators hit out at lackluster help for Syria quake victims
GENEVA, SWITZERLAND - The world failed to act quickly enough to rush life-saving aid to Syrians in desperate need following the...
- Almost 6,000 people were killed in Syria by the 7.8-magnitude tremor that struck the country and neighboring Turkey.
- The UN estimates that five million people need basic shelter and non-food assistance in the quake-hit part of Syria.
Economy
Biden vows to fix ‘mess’ as US regulators rush to contain SVB fallout
Treasury Secretary Janet Yellen said the government wants to avoid financial "contagion" from the SVB implosion, as it ruled out...
- Joe Biden vowed to hold accountable the people responsible for SVB collapse and said he would deliver remarks Monday on maintaining a resilient banking system
- In a joint statement, financial agencies including US Treasury said SVB depositors would have access to "all of their money" starting Monday, March 13
Economy
China’s new premier warns 5% growth rate for 2023 not ‘easy’ to achieve
Beijing, China--China's new premier warned Monday that the country's five-percent growth target for 2023 would not be "easy" to achieve, as...
- The Chinese government has set the economic growth target of around five percent as the country came out of strict zero-Covid rules that undermined growth
- The new premier also took a dig at the US as relations between the two powers have worsened over a host of issues such as trade, technology and security
Economy
Egypt’s exports to China shoot up 21% to US$1.7bn in 2022
Cairo, Egypt--Egypt’s export to China increased by 20.8 percent to $1.7 billion in the first 11 months of 2022, compared...
- Trade between the two countries shot up by 2.6 percent during the first 11 months of 2022, reaching $14.9 billion from $14.5 billion, according to the official data
- The North African country's imports from China totaled $13.2 billion from January to November 2022, up from $13.1 billion in the same period in 2021
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.
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
Company News
Latest News
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...
Economy
Global maritime trade sails into geopolitical storm
Most large international shipping companies have decided to reroute trading to avoid the Red Sea and Suez Canal through which...
‘Dubai reinforces global leadership in healthcare’
“Biomedical and health informatics professionals attending MedInfo 2027 will enjoy a world-class event in a thriving global city within close...
Economy
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Economy
2024 set to see new era of digital transformation
The GCC region is on the brink of a major tech revolution, led by advancements in AI, fintech, and sustainable...
- The GCC region is on the brink of a major tech revolution, led by advancements in AI, fintech, and sustainable technology, UAE-based tech expert Dua Al Toobi tells TRENDS.
- Innovations are set to reshape the Gulf's economic and social landscape in 2024, marking a pivotal shift towards a knowledge-based economy, adds Al Toobi.
Economy
Eurozone inflation rises to 2.9% in Dec mainly due to energy costs
The data supports comments by European Central Bank (ECB) chief Christine Lagarde, who has warned that Europe should remain on...
- Energy prices in the eurozone fell in December, by 6.7 percent on an annual measure, but that was less than the 11.5 percent drop in November
- Among the 20 countries that use the euro, Belgium and Italy had the lowest inflation rate, reaching 0.5 percent in December
Economy
FAO says global food prices fell 13.7 percent in 2023
World food prices fell in 2023, with considerable declines for grains and oils as supply concerns eased, the UN's Food...
- Overall, world food commodity prices fell 13.7 percent in 2023 compared to the previous year, Rome-based FAO said.
- The vegetable oil price index posted the biggest fall last year, dropping 32.7 percent, thanks to improved supplies and reduced use for biofuel production.