Trump puts world on edge as ‘Liberation Day’ tariffs loom
Trump kept rivals and allies alike guessing about who would be targeted and by how much, but promised to be...
Economy
Trump announces 25% tariffs on foreign-built vehicles
US President Donald Trump has announced steep tariffs on auto imports and parts, provoking threats of retaliation from trading partners...
Economy
Economy
Trade restarts as key Afghan border crossing with Pakistan reopens
The crossing was closed last Sunday by Afghan authorities, who objected to what they said were new documentation rules restricting...
- Torkham border crossing was reopened at 6 am on Saturday, Afghan customs official Muslim Khaksar said at the site in Afghanistan's eastern Nangarhar province
- On Saturday, people attending to patients were allowed to enter Pakistan after showing their Afghan identity cards, the Pakistani customs official said
Economy
Experts reassure Istanbul not at heightened risk of earthquake
Istanbul, Turkey--Fears of another major earthquake have been rekindled in Istanbul since the February 6 disaster that hit Turkey and...
- The 16 million residents of Istanbul, a city that spreads over two continents and has seen skyscrapers mushroom in recent years, are wondering if they're ready for the "Big One"
- The early warning could win "a maximum of seven or eight seconds" -- not enough time to allow inhabitants to get to safety
Economy
UAE donates 10 ambulances to Syria for relief efforts after quake
Abu Dhabi, UAE--The UAE has presented Syria with 10 state-of-the-art ambulances, as part of Operation Gallant Knight 2 and the...
- The initiative is part of a continuation of the UAE's humanitarian support for the Syrian people in the wake of the powerful earthquake
- Dr. Salem Al Falasi said the UAE continues to support Syria's health sector, as part of Operation Gallant Knight 2, and to identify and meet the needs of Syrian hospitals
Geostrategy
In new mass rally Israelis protest against judicial reforms
Israeli media reported the crowds were again in the tens of thousands, after lawmakers this week took a step towards...
- Netanyahu has presented the judicial reforms as key to restoring balance between the branches of government, arguing judges currently have too much power over elected officials
- Another element of the reforms would give the 120-member parliament the power to overrule Supreme Court decisions with a simple majority of 61 votes
Economy
UAE and Algeria seek to expand economic cooperation
Abu Dhabi, UAE--The 15th session of the joint UAE-Algeria Economic Committee has been held in Abu Dhabi under the chairmanship...
- Non-oil trade between the two countries has grown from $701 million in 2020 to around $800 million by the end of 2022
- The UAE is one of Algeria's major Arab trading partners in 2021, accounting for nearly 20% of Algeria's trade volume with Arab countries
Interview
‘KSA bets big on technology and AI, makes global supply chain excellent’
Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef highlighted his ministry’s role in the country’s development in...
- Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef highlighted his ministry’s role in the country’s development in a interview with TRENDS at DAVOS 2023
- ‘As for our industry, we have certain programs to train young people and make our new investments more and more technology-based,’ says the Saudi minister AlKhorayef
Business
Masdar unveils 200MW Solar Park in Jordan
Amman, Jordan - The Baynouna Solar Energy Company (BSCE), a joint venture between the UAE’s world-leading renewable energy company, Masdar,...
- The Baynouna Solar Park produces over 560 gigawatt-hours (GWh) of energy annually – enough to power 160,000 homes
- The plant also displaces 360,000 tons of carbon dioxide per year, equivalent to taking nearly 80,000 cars off the road.
Geostrategy
UAE takes part in first G20 Finance Ministers meeting in 2023
ABU DHABI, UAE - Minister of State for Financial Affairs Mohamed Hadi Al Hussaini headed the UAE delegation participating in...
- Held for the first time under the Indian presidency in Bengaluru, the meeting discussed the progress under the G20 priorities for 2023.
- The UAE team reiterated the importance of a globally coordinated multilateral action to promote climate finance.
Geostrategy
UNDP requests $113.5 million to support early recovery in Turkey
ANKARA, TURKEY - Clearing the mountains of rubble due to buildings collapse in the earthquakes that hit Turkey on February...
- Rubble removal accounts for a large share of UNDP's US$113.5 million request for funding.
- UNDP's current focus is to help prevent public health threats to affected populations and emergency responders.
Science
Boosting investment in health systems is essential, says OECD
PARIS, FRANCE - Governments should urgently adapt their health systems to better respond to future shocks, given the huge impact...
- Major investment is needed in the health workforce, alongside increased spending on prevention and digital infrastructure, says OECD
- More workers in health and social care were associated with lower mortality rates.
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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
Trump puts world on edge as ‘Liberation Day’ tariffs loom
Trump kept rivals and allies alike guessing about who would be targeted and by how much, but promised to be...
Economy
Company News
Nedaa, Dubai Customs ink MoU
Business
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New CEO appointed in SRC
Business
UAE best performing economy in Arab region, says Arab Monetary Fund
Abu Dhabi, UAE - The United Arab Emirates was named the most economically competitive nation in the Arab world, a...
Economy
UAE insurance sector grows with rise in gross written premiums in Q3 2023
Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) has said that the UAE insurance sector continued to...
Economy
Central Bank of Egypt keeps interest rates unchanged
Cairo, Egypt – The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) has kept the current key...
Economy
Most Read
Economy
‘Private sector plays vital role in Gulf integration’
"The GCC has all the potential to become a strong economic alliance capable of asserting itself on the global economic...
- The GCC has all the potential to become a strong economic alliance capable of asserting itself on the global economic map.
- This potential is attributed to its natural resources, distinctive geographical location, and robust global alliances with nations.
Economy
UAE banking sector sees $71.87 billion in savings deposits until October 2023
Dubai, UAE - Savings Deposits in the banking sector in the UAE, excluding interbank deposits, hit $71.87 billion by the...
- The local currency, the dirham, accounted for the largest share of Savings Deposits, with around 82 percent, which is $59.12 billion
- Demand Deposits rose to $262.77 billion at the end of October 2023, with an annual growth rate of 5.6 percent
Economy
Climate threats haunt GCC’s economy and finance
The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's...
- The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's economic stability and financial health.
- A new S&P Global report underscores the urgency for adaptation and resilience investments to mitigate risks such as climate-induced flooding.