From cars to champagne: Trump’s expanding tariffs trigger trade war fears
Paris, France -- From champagne to steel and now cars: it is getting harder to keep up with US President...
Geostrategy
AI, wealth management and trust: Could machines replace human advisors?
The future of wealth management lies in hybrid models, combining AI’s data-driven precision with human empathy and ethical oversight. While...
Economy
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,
Geostrategy
Sharjah, Costa Rica explore trade, food security
SHARJAH, UAE - Chairman of the Department of Government Relations (DGR) in Sharjah Sheikh Fahim Al Qasimi recently met with...
- The Costa Rican delegation was briefed on Sharjah free zones and industrial zones.
- The Costa Rican minister said the meeting explored opportunities to strengthen trade between the two sides.
Most Read
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
From cars to champagne: Trump’s expanding tariffs trigger trade war fears
Paris, France -- From champagne to steel and now cars: it is getting harder to keep up with US President...
Geostrategy
Company News
Latest News
UAE consumer spending expected to rise by 5% in 2024: Mastercard report
Dubai, UAE -- Consumer spending in the UAE is expected to increase by 5 percent in 2024, while consumers and...
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...
Economy
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...
Most Read
Economy
Qatar expects 11.4% revenue dip in 2024 budget on lower oil prices
Finance Minister Ali bin Ahmed Al Kuwari attributed the decrease in revenues to the adoption of an average oil price...
- Expenditures are expected to increase by 1 percent from 2023 to reach QR 200.9 billion, due to a rise in the allocations for salaries and wages.
- Allocations for both current expenditures and secondary capital expenditures also increased by 6.4 percent and 27.5 percent respectively, compared to 2023.
Business
Waning influence of OPEC+ in spotlight as prices flag
Founded in 1960, the 13-member OPEC cartel in 2016 partnered up with 10 other producers to form OPEC+ to gain...
- Prices are sitting at their lowest level in nearly six months despite the cartel's announcement in November to further cut output
- While Riyadh blamed speculators for the drop, rather than weak demand, analysts say the cartel's lack of unity has fuelled scepticism about their latest announced cuts.
Saudi Arabia introduces unified platform for visas, including Hajj, Umrah
Riyadh, Saudi Arabia - Saudi Arabia on Tuesday introduced 'KSA VISA,' a unified visa platform aimed at streamlining visa application...
- The platform aims to automate visa issuance procedures, thereby enhancing the overall visitor experience
- The initiative is a step in the kingdom's strategy to bolster tourism in the forthcoming years