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
Trump’s tariffs fallout: Why trade tensions are a ‘storm cloud’ over financial markets
Stocks later rallied after Trump announced a 90-day pause on additional higher tariffs that were set to impact around 80...
Economy
Arts & Culture
UAE shares view at first G20 Culture Working Group meeting
ABU DHABI, UAEÂ - UAE Ministry of Culture and Youth (MCY) participated in the First G20 Culture Working Group (CWG)...
- G20 members, invited countries and international organizations attended the meetings of the Culture Working Group.
- The meeting discussed the challenges and opportunities in the cultural ecosystem on a global scale.
Economy
Saudi Arabia to deposit $5 bn in quake-hit Turkey’s central bank
Ahmed Al Khateeb, the Saudi tourism minister and board chairman of the Saudi Fund for Development, signed an agreement with...
- The decision, which will shore up Turkey's foreign reserves and help it combat inflation, was made on the order of King Salman and Crown Prince Mohammed bin Salman.
- Turkey was already suffering from skyrocketing inflation and a weakening currency before last month's massive 7.8-magnitude earthquake.
Economy
Judge to quiz Lebanese central bank head in embezzlement case
Lebanon opened its probe following a request for assistance from Switzerland's public prosecutor probing more than $300 million in fund...
- The 72-year-old central bank governor is the subject of several domestic and international investigations over suspicions of money laundering.
- The governor denies all accusations against him and has rarely appeared before the judiciary, despite numerous complaints and summonses.
Infographics
Fewer GCC women achieve leadership roles
Young women in the MENA region are more likely to be in the workforce, while the GCC countries — particularly...
- A PwC survey last year found that a large group of younger women are more likely to go to work and remain in employment to fulfil their ambitions in MENA region.
- Saudi Arabia has witnessed a 35.6 percent increase in the women's economic participation. Still, the gender gap in leadership roles is huge.
Business
Dubai Land Department launches new feature to streamline procedure
DUBAI, UAE - The Dubai Land Department (DLD) has launched the Instant Sale feature, which utilizes smart evaluation technology in...
- The aim of the new feature is to streamline procedures and improve the experience of DLD's customers.
- The feature requires all parties to be present at the real estate registration trustee office to sign contracts.
Economy
UAE, Oman agree to cooperate on development, environmental protection
Dubai, UAE-- The UAE and Oman have signed an agreement to enhance cooperation in order to preserve environment and encourage...
- Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, paid a visit to Oman to enhance cooperation in fish farming and achieving net-zero targets
- Almheiri said that the UAE seeks to encourage the implementation of eco-friendly solutions to address environmental challenges
Economy
Egypt’s foreign reserves rise $128m in February
Cairo, Egypt - Egypt’s foreign exchange reserves rose $127.9 million by the end of February to $34.352 billion, compared to...
- Foreign currencies in Egypt’s foreign reserves include the US dollar, euro, Australian dollar, Japanese yen and Chinese yuan
- Egypt's economy has come under pressure over the past year, with the Egyptian pound tumbling and foreign currency drying up
Economy
Poor nations’ leaders unleash anger and despair at UN summit
The opening day of general debate at the once-in-a-decade summit saw no major announcement of desperately needed cash - apart...
- Many made pointed calls for the developed powers to come good with billions of dollars of promised aid to help them escape poverty and battle climate change
- Central African Republic's president told the UN Least Developed Countries meeting in Doha that his resource-rich but impoverished nation was being "looted" by "Western powers."
Economy
‘UAE’s economy sees fastest growth in over a decade’
The UAE has utilized advanced technologies to develop capacities and meet the growing demand in these sectors. Additionally, the country...
- The ambitious economic initiatives and programs launched by the UAE in the past few years aim to enhance the country's capacity to address new economic concepts
- The Gulf country has adopted economic diversification policies that move away from oil, providing sufficient flexibility to address current economic challenges
Business
Saudi EXIM, SINOSURE ink MoU
Pact is likely to help enhance Kingdom's non-oil exports.
- The agreement was signed during a ceremony held at the Saudi EXIM Bank headquarters in Riyadh
- It aims at knowledge exchange, finance and investment opportunities in Saudi Arabia and China
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
Company News
Maaden posts net loss in Q3
Business
NMDC, AD Ports Group ink MoU
Business
Latest News
Saudi Arabia set to open its first financial center
Riyadh, Saudi Arabia - Saudi Arabia is poised to launch its inaugural financial center, with unified and standardized policies and...
Economy
China’s new tariffs policy to hasten industrial transformation
Beijing, China -- China's import and export tariff adjustments on some goods took effect on Monday, including implementing provisional import...
Economy
Qatar’s industrial sector PPI down in Nov on lower oil prices
Doha, Qatar -- Qatar's Producer Price Index (PPI) of the industrial sector in the country for November was 118.65 points,...
Economy
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Economy
UAE’s CEPA program marks ‘exponential growth’
“Trade has always been important to the UAE, a bridge connecting our products, skills, and natural resources to the world,...
- In 2023, the UAE's CEPA program achieved substantial growth, implementing three agreements and signing two more, expanding its global trade network across four continents.
- In 2023, the UAE's non-oil foreign trade soared to a record AED1.24 trillion, complemented by the launch of the Trade Tech initiative with WEF to digitize global supply chains.
Economy
Nationalization efforts transform Saudi workforce
Saudi Arabia's ambitious nationalization initiative has significantly impacted its labor market, with the Kingdom experiencing a historic low unemployment rate...
- Saudi Arabia's ambitious nationalization initiative has significantly impacted its labor market, with the Kingdom experiencing a historic low unemployment rate of 8.6%.
- The Kingdom's success on employment front is attributed to Vision 2030's strategic economic diversification and an increased focus on local workforce development.
Economy
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...
- Despite last year's challenges, the region is set to see robust growth this year, led by the UAE, which is expected to top the economic performance with a 4% GDP growth.
- The Gulf region's growth is likely to be underpinned by technological advancements and a resilient banking sector, ready to navigate through global economic shifts.