Building an anticipatory governance strategy for an increasingly risky world
Anticipatory governance is crucial in navigating today’s risks. While AI tools enhance forecasting, early warning does not always lead to...
Economy
Turkey central bank cuts rate to 42.5% as inflation eases
Istanbul, Turkey - Turkey's central bank on Thursday lowered its key interest rate for a third consecutive time as inflation...
Economy
Dubai housing boom buoys buyers, burdens tenants
Dubai, renowned for its towering skyscrapers and ultra-luxury villas, saw record real estate transactions in 2022, largely due to the...
- Property prices in the prime locations of Dubai have jumped by 44 percent in 2022 compared with the year before, said real estate consultancy Knight Frank
- Russians, fleeing the impact of sanctions after their country's invasion of Ukraine. were the biggest foreign buyers on Dubai's property market last year
Business
Non-oil trade between Saudi Arabia and UAE up 9 percent in 2022
Abu Dhabi, UAE – The non-oil trade between the UAE and Saudi Arabia in 2022 increased by 9 percent, reaching...
- Over the period of 2013-2022, non-oil trade between the two countries increased by 70 percent.
- Raw gold topped the list of the top five commodities exported from the UAE to Saudi Arabia in 2022, valued at AED8.7 billion.
Economy
Asian markets drop as traders contemplate higher-for-longer rates
All three main indexes in New York plunged at least two percent Tuesday, with forecast-beating purchasing managers index data showing...
- Traders are now awaiting the release of minutes from the Fed'slatest policy meeting hoping for an idea about officials' views on how much and how far to lift borrowing costs
- Adding to the dark mood were downbeat 2023 projections from retail titans Walmart and Home Depot, who noted the impact of inflation and higher interest rates on consumer health
Arts & Culture
Centuries-old 77 stolen antiquities to be returned to Yemen
Washington, United States--The United States has returned 77 looted antiquities to Yemen, US authorities said Tuesday, adding the objects would be...
- New York state's justice department has been carrying out a vast campaign for several years to restore antiquities looted around the world
- The Yemeni government and the museum have signed an agreement to preserve the objects for two years, with the option of renewing it at Yemen's request
Economy
Qatar-US trade exchange hits $9.46bn: Qatari official
Al Khater said that the total direct Qatari investments in the US amounted to about $69 billion, and that 856...
- Al Khater said that the total direct Qatari investments in the US amounted to about $69 billion, and that 856 US companies operate in the Qatari market
- He pointed out that the World Bank expected Qatari economy to grow by 3.4 percent in 2023, and highlighted the international rating agencies' positive outlook for the country
Economy
Syrian family adopts ‘miracle baby’ born under rubble in quake
Jindayris, Syria--Born an orphan under the rubble in north Syria after a devastating earthquake, Afraa al-Suwadi has been given a new...
- Suwadi's story has captivated a grieving nation and made international headlines as Syria's "miracle baby"
- Relatives had pulled her from the wreckage still tied to her deceased mother by the umbilical cord
Interview
GCC will be least hit by recession: WEF’s MENA head
In 2023, some Middle Eastern economies appear to be more resilient than most developed markets, Maroun Kairouz, Director for MENA...
- In 2023, some Middle Eastern economies appear to be more resilient than the most developed markets, Maroun Kairouz, Director for MENA at the World Economic Forum, tells TRENDS
- During the global crisis of 2007 and 2008, all western leaders knocked on the doors of GCC sovereign wealth funds because those are the pools of long-term capital, he adds
Business
RAKEZ supports F&B industry investors to set up, expand in UAE
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) is participating in the Gulfood exhibition to showcase its...
- With an aim to promote the F&B industry, RAKEZ regularly participates in the annual Gulfood exhibitions.
- RAKEZ supports investors to gain a foothold in the local, regional and global markets through its business ecosystem.
Business
Dubai Chambers adds 56,000 new members during 2022
Dubai, UAE--Dubai Chambers' membership increased by 20 percent in 2022 to 347,600, adding 56,000 new members during the year. In...
- The Chambers said the exports and re-exports of its members grew by 20 percent in 2022, totaling AED272.7 billion.
- Dubai International Chamber opened four new international offices in 2022, growing its international network to 15 offices.
Economy
Saudi non-oil exports down by 24 percent to $6 billion in Dec 2022
Riyadh, Saudi Arabia-- Saudi Arabia's non-oil exports (including re-exports) fell by 24.4 percent to SAR 22.7 billion ($6.05 billion) in...
- Overall merchandise exports increased by 1.1 percent in December 2022, SAR 108.2 billion, compared to SAR 107.0 billion in December 2021.
- This increase was mainly due to oil exports, which rose by SAR 8.5 billion or 11.1 percent in the same period,
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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
Building an anticipatory governance strategy for an increasingly risky world
Anticipatory governance is crucial in navigating today’s risks. While AI tools enhance forecasting, early warning does not always lead to...
Economy
Company News
Latest News
Saudi Arabia, South Korea ink pact to manufacture vaccines, biotech solutions
Seoul, South Korea - Saudi Arabia and South Korea on Sunday signed a Memorandum of Understanding (MoU) to collaborate in...
Economy
Enhanced norms help UAE win financial crime battle
“This has led to heightened compliance levels with the country's laws, aligning with global efforts to combat money laundering and...
Economy
UAE ranks first in Middle East, 4th globally as remote work destination
Dubai, UAE -- The UAE has ranked first in the Middle East and fourth globally as a leading destination for...
Economy
Most Read
Geostrategy
Plan to end e-vehicle subsidies sparks anger in Germany
BERLIN, GERMANY - The German government on Sunday faced a backlash after abruptly ending an electric car subsidy scheme in a...
- The economy ministry said on Saturday that Sunday would be the last day prospective buyers could apply for the scheme.
- Under the scheme, the government paid out thousands of euros per customer to partially cover the cost of buying an electric car.
Economy
Qatar records 6 percent drop in Industrial Production Index in October
Doha, Qatar-- Qatar has recorded a 9.3 percent drop in the Industrial Production index (IPI) in the month of October...
- The mining sector posted an 11.1 percent fall as compared to September due to the decrease in the quantities of "crude oil petroleum and natural gas"
- However, manufacture of cement and other non-metallic mineral products posted a 4.3 percent jump, and printing and reproduction of recorded media increased by 3.2 percent
COP28 UAE
COP28 initiatives to narrow climate finance disparity
Antoine Samaha of BCG applauds the launch of a Loss and Damage Fund for developing countries, emphasizing the need for...
- At COP28, a significant focus was placed on climate finance, with the establishment of a Loss and Damage Fund to aid developing countries.
- Antoine Samaha of BCG underscores the urgency of securing more funds and ensuring its equitable distribution to combat climate change.