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
Saudi Arabia’s space economy reaches $8.7 billion in 2024
Riyadh, Saudi Arabia -- The Communications, Space, and Technology Commission (CST) has said that the Saudi space economy reached $8.7...
Economy
Khalifa Fund announces winner of CEO Program
ABU DHABI, UAE - Khalifa Fund for Enterprise Development, in partnership with the Abu Dhabi Department of Economic Development (ADDED)...
- The CEO program is a rigorous nine-month program that aimed to cultivate entrepreneurship and innovation skills.
- The program also helps build and grow ag-food tech ventures and contribute to the UAE's Food Security Strategy.
Economy
Turkey quake damage at $34bn: World Bank
The World Bank warned that the continuing aftershocks are likely to increase the total amount of damage caused by the...
- The amount is equivalent to four percent of Turkey's GDP in 2021, the Washington-based institution said
- The estimate also does not take into account the damage caused in northern Syria, also particularly affected by the earthquakes
UN raises $1.2bn to help millions in war-torn Yemen
The UN says more than 21.7 million people - two-thirds of Yemen's population -- need humanitarian assistance this year. Its...
- The figure was far short of the $4.3 billion sought from donors at a pledging conference in Geneva, but the UN hoped the figure could reach $2 billion by the end of the week
- It was the seventh donor conference for Yemen in seven years - but the UN hopes the next such gathering could focus on rebuilding the broken country rather than staving off hunger
Economy
Saudi economy to grow 3% in 2023: Riyadh Capital
Riyadh, Saudi Arabia--Saudi Arabia’s economic growth is expected to accelerate by 3 percent in 2023 backed by a robust non-oil...
- The growth will be driven by a sturdy fiscal policy geared towards increasing investment spending
- The report pointed out that the Saudi Central Bank will follow the Fed in its interest rate policy
Economy
EU and Britain agree on Northern Ireland trade deal
Prime Minister Rishi Sunak and European Commission president Ursula von der Leyen adopted the deal at a meeting in Windsor,...
- The UK government under Boris Johnson had threatened a unilateral rewrite of the protocol unless the EU agreed to wholesale changes
- French President Emmanuel Macron lauded an "important decision" that will protect the European market
Economy
Ras Al Khaimah to launch a free zone for virtual asset companies
RAK Digital Assets Oasis will be a purpose-built, innovation-enabling free zone for non-regulated activities in the virtual assets sector.
- RAK Digital Assets Oasis will be a purpose-built, innovation-enabling free zone for non-regulated activities in the virtual assets sector
- It will be remote-work friendly, globally connected destination for digital and virtual asset companies building innovative business models for the future
Business
Super-rich Russians lift UAE property market to record heights
There might be a global slowdown in the property market, but thanks to Russian buyers, the UAE, in contrast, has...
- The number of Russians who bought property in Dubai shot up by 164 percent in the first quarter of 2022.
- According to Better Homes Consulting, Russians made up the largest segment of foreign real estate buyers in Dubai last year
Business
Phone firms set for annual meet in shadow of global slump
Barcelona, Spain--The big beasts of the telecom industry will gather in Barcelona on Monday for their most important annual get-together,...
- In total, the four-day show would host almost 750 operators and manufacturers and 2,000 exhibitors.
- A hugely popular idea for many at the show is to force the owners of bandwidth-hungry platforms like YouTube, Netflix and Facebook to pay network operators a "fair share".
Economy
Higher Middle East demand pushes Thai rice exports up
Head of the ministry's foreign trade department Ronnarong Phoolpipat told a press conference that the value of rice exports rose...
- Head of the ministry's foreign trade department Ronnarong Phoolpipat said that the value of rice exports rose 78.76% to $406.72 million in January year-on-year
- He attributed the rise in exports mainly to the orders from the Middle East where the countries have' high purchasing power and low agricultural output
Business
Mawani sanctions five new services, links up 43 international ports
Riyadh, Saudi Arabia--The Saudi Ports Authority, also known as Mawani, has sanctioned five new shipping services that will link up the Kingdom with 43 international...
- According to reports, the five new services are projected to support commercial traffic, strengthen the national imports and exports system
- The five new services are dispersed across three ports namely, Jeddah Islamic Port, King Abdulaziz Port in Dammam, and Jubail Commercial Port
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
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Abu Dhabi’s non-oil economy expands 7.7 percent in Q3 2023
ABU DHABI, UAE - The Statistics Center - Abu Dhabi (SCAD) has reported a substantial 7.7 percent growth in the...
Economy
Innovations make Dubai Airport soar to new heights
In 2023, Dubai International Airport ranked second globally in passenger count and was recognized for having the largest seat capacity...
Economy
‘Gulf-Korea FTA marks historic economic milestone’
"The implementation of such free trade agreements follows directives from GCC leaders aimed at strengthening economic ties with other countries...
Economy
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Economy
Tunisia, Saudi Arabia sign 7 MoUs in various sectors
Tunis - Tunisia and Saudi Arabia signed seven memoranda of understanding in various fields and sectors on Wednesday afternoon The...
- The MoUs encompass various areas such as water, environmental protection, agricultural scientific research, climate and meteorology cooperation, tourism and industry
- Tunisian minister Boughdiri stressed her commitment to enhancing collaboration between the two nations, highlighting the significance of these agreements
Economy
UAE’s hiring landscape sees rise in homegrown talent
"The challenge today is not just in assimilating this fresh talent but in bridging the gap between them and the...
- New graduates bring unique lifestyles and perspectives to the workforce.
- The generational divide: From self-made success to a reliance on support.
Business
GCC forges ahead in sustainable tech initiatives
In 2023, the Gulf countries made a strong push towards renewable energy and pioneering green hydrogen projects, signaling a significant...
- In 2023, the Gulf countries made a strong push towards renewable energy and pioneering green hydrogen projects, signaling a significant green transition in the region.
- The GCC's commitment to sustainable technology initiatives, including advancements in renewable energy, green hydrogen, and smart city solutions, make it a global leader.