Automakers lead market losses after Trump tariffs on imported vehicles
Wall Street's main indexes opened in the red, with General Motors sinking more than nine percent in early trading while...
Business
EU skewers Google, Apple over tech rules – despite Trump threats
The European Union defied US threats of retaliation Wednesday by accusing Google of violating its digital rules -- which could...
Science
Economy
Qatar’s 2022 budget surplus grows 5462%
The surplus for Q4 2022 was 3.18 billion, compared to a deficit of $0.90 billion in the same quarter of...
- The surplus for Q4 2022 was 3.18 billion, compared to a deficit of $0.90 billion in the same quarter of 2021
- Total revenues for the quarter came in at$18 billion, compared to $14 billion in the same period last year
EU eases Syria sanctions to speed up quake aid
The EU measure will last for six months and was taken "in view of the gravity of the humanitarian crisis...
- Aid organizations will no longer need to seek permission from EU member state governments before sending supplies to sanctioned entities in Syria
- EU pointed out that it and its member states have contributed a total of $26 billion to Syria and to refugee-hosting neighbors such as Turkey since 2011
Economy
Qatar’s 2022 budget records surplus of US$24.45bn
At the time of the approval, the budget was estimated to hit a deficit of QAR 8.3 billion. "The deficit...
- Qatar's budget surplus for Q4 of 2022 (October to December) was QAR11.6 billion, compared to a deficit of QAR3.3 billion in the same quarter of 2021
- Total revenues for the quarter came in at QAR 65.1 billion, compared to QAR51.5 billion in the same period of last year
Economy
UAE, Egypt, Jordan, Bahrain to announce joint industrial projects worth millions of dollars
The third meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development will take place in Jordan's...
- The third meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development will take place in Jordan's capital Amman
- The member states will collaborate to grow their respective industrial sectors by integrating resources and industries and leveraging competitive advantages
Economy
Gulf Common Market moves ahead with new tracks
New tracks have been launched in the Gulf common market to supplement the 10 current tracks. The bloc also seeks...
- New tracks have been launched in the Gulf Common Market to supplement the 10 current tracks. The bloc also seeks collaboration with the private players in the region
- The "third phase" of the statistical survey was also reviewed during the meeting to assess the implementation of the GCC Common Market plans on the ground
Economy
Turkey slashes borrowing rate to press quake recovery
Turkey was already battling runaway inflation and relying on wealthy allies to keep its economy afloat when the massive earthquake...
- A prominent business group has estimated there was some $84 bn in quake damage, but estimates from other experts are more conservative, putting the total closer to $10 bn.
- When the quake hit, Turkey's official annual inflation rate had slowed to 58 percent from a two-decade high of 85 percent last year.
Business
Renewables investments record high in 2022, but need massive increase
A report by the International Renewable Energy Agency (IRENA) and Climate Policy Initiative (CPI), said although global investment in renewable...
- The report emphasizes how lending to developing countries looking to deploy renewables must be r highlights the need for public financing to play a much stronger role.
- Achieving an energy transition in line with the 1.5°C Scenario also requires the redirection of $0.7 trillion per year from fossil fuels to energy-transition related technologies.
WHO using Syria sanctions pause to ship in health supplies
The massive 7.8-magnitude tremor on February 6 has killed more than 42,000 people in Turkey and more than 3,600 in...
- The WHO said it was capitalizing on the suspending of sanctions to carry out some rapid procurement and revitalize Syria's shattered health services
- The UN health agency called on Syria's warring factions to see the earthquake as an opportunity to end the civil war for good
Economy
UAE-Azerbaijan trade advances significantly: Envoy
The bilateral ties between the two countries were further strengthened after the inauguration of the UAE Embassy in the Azeri...
- The UAE and Azerbaijan have deep-rooted ties and are keen to expand their bilateral trade, says envoy Mohammed Murad Al Balushi
- The bilateral ties between the two countries were further strengthened after the inauguration of the UAE Embassy in Baku in 2011, he adds
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
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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
Automakers lead market losses after Trump tariffs on imported vehicles
Wall Street's main indexes opened in the red, with General Motors sinking more than nine percent in early trading while...
Business
Company News
Mawani, SGP ink US$266m pact
Business
Latest News
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...
Economy
Lebanon economy to plunge into recession due to Gaza war
The impact of the conflict had reversed a slight recovery for Lebanon, which has battled a deep economic crisis for...
Economy
Angola departure a blow for OPEC+ as cartel tensions rise
Despite slashing oil production for months on end and announcing new cuts in late November, the Organization of the Petroleum...
Geostrategy
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Economy
UAE central bank raises 2024 economic growth forecast to 5.7%
The bank stated in a report released today that the overall GDP for the country is expected to grow by...
- The bank said that the UAE economy recorded a 3.8 percent year-on-year (YoY) growth in the second quarter of the current year, compared to 8 percent recorded in Q2 2022.
- It mentioned that the non-oil GDP growth accelerated to 7.3 percent YoY in the second quarter of the current year, up from 4.5 percent YoY in the previous quarter.
EU agrees on 150-million financial aid for Tunisia
A joint statement said the funds amounting to around $164.3 million "aims to support the efforts undertaken by the Tunisian...
- The aid is part of a partnership agreement reached between the two countries in Tunis on July 16, which included a 105 million euros to curb irregular migration
- The joint press by EU commission and the Tunisian foreign ministry release said the 150-million aid will consist of a "direct financial transfer to the Tunisian public treasury
UNCTAD eWeek focuses on AI risks, e-commerce growth in developing countries
At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and...
- At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and ensure a secure digital future.
- Australia committed $2 million to UNCTAD for e-commerce support in developing nations, as Kenya unveiled a national strategy to spur its digital economy growth.