Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
Analysis
Oil, gas, and renewables: How global policies and markets are reshaping energy in 2025
The Trump administration’s trade tariffs and withdrawal from the Paris Agreement pose major risks to global economic growth and energy...
Economy
Economy
UAE trade minister meets US Jewish delegation to discuss relations
Al Zeyoudi highlighted the long-standing strategic relations between the UAE and the US, noting that their economic and trade exchanges...
- Al Zeyoudi highlighted the long-standing strategic relations between the UAE and the US, noting that their economic and trade exchanges are witnessing significant growth
- The two sides also discussed the prospects of boosting their partnership and exchanging expertise, and ways of maintaining peace and promoting the values of social tolerance
Geostrategy
Tunisian footballer reaches Italy on migrant boat, says club
TUNIS, TUNISIA - A goalkeeper at a top-flight Tunisian football club has reached Italy as a clandestine migrant, his club said...
- Tunisia is struggling with a grinding economic crisis that has seen a growing wave of clandestine migration attempts in recent months.
- Rome says over 32,000 migrants, including 18,000 Tunisians, reached Italy from Tunisia last year.
Business
UAB 2022 net profit at US$42m
Total operating income rose 11% in 2022 compared to 2021.
- UAB is focused on positioning itself as the partner of choice among major corporate clientele segments.
- The bank's CEO said that their focus will remain on the delivery of an enhanced customer experience.
Business
Hermes 2022 net profit $3.6bn
Fashion house posted huge earnings despite inflation.
- Sales rose 29 percent to US$12.3 billion at current exchange rates.
- Hermes said its sales rose by 30.7 percent in the Asia-Pacific region, excluding Japan, in the last three months of 2022.
Business
Saudi transport authority signs largest bus transport project
Riyadh, Saudi Arabia---Saudi Arabia's Transport General Authority has signed the largest project for transporting passengers by buses through a network...
- The network, which involved major global alliances, will cover more than 200 cities and governorates.
- The network is expected to serve more than 6 million passengers annually through 76 routes, with a new fleet of buses equipped with the latest technologies.
Business
DEWA, France’s satellite operator Eutelsat discuss cooperation
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer spoke of the...
- DEWA CEO highlighted organization’s key initiatives and projects to promote sustainability, renewable and clean energy, and energy efficiency.
- These include DEWA’s space program (Space D) which supports the National Space Strategy 2030.
Economy
External players give tough race to UAE’s e-commerce
The external e-commerce players, projected to grow by 19.2 percent from 2022 to 2026, are expected to capture a share...
- The external players, projected to grow by 19.2 percent from 2022 to 2026, are expected to capture a share of 34 percent of the total online shopping in the UAE.
- The size of the UAE e-commerce sector will reach US$ 9.2bn by 2026, growing at a compound annual growth rate of 12.6 percent, says Dubai Chamber of Commerce
Business
Centrica 2022 profit US$4bn
Firm's profit rose due to gas and crude oil prices spike.
- Britain's government of Prime Minister Rishi Sunak is temporarily subsidizing electricity and gas bills this winter.
- Centrica expanded its stock buyback scheme to hand another $360 million to shareholders.
Economy
Protestors ransack banks in Lebanon as currency hits record low
Lebanon's cash-strapped banks have imposed strict restrictions on withdrawals, barring depositors from accessing their savings, especially those in US dollars.
- The pound is trading at about 80,000 to the greenback on the black market versus 60,000 at the start of the month.
- around 50 protesters smashed the facades of four banks and burned car tires in the central Beirut neighborhood of Badaro.
Business
Investopia, Mubadala ink strategic partnership
DUBAI, UAE - Investopia, the global investment platform launched by the UAE Government, and Mubadala, the sovereign investor, announced a...
- Mubadala and its portfolio companies will expand their participation across the different activities taking place during Investopia.
- The pact will include the participation of Mubadala’s senior leadership in the program, the firm's engagement in the various activities targeting start-ups.
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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
Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
Analysis
Company News
Latest News
‘Double efforts to tackle labor market challenges’
"The digital economy represents a clear path to employment opportunities. Additionally, exploring other avenues, such as the green economy, is...
Economy
Palestine sees 3.7% economic shrink amid conflict
The World Bank reports a severe economic downturn in Palestinian economy due to Israel-Hamas conflict, with Gaza's economic contribution falling...
Economy
UAE GDP set to double in 2024 from oil and non-oil boost: report
Dubai, UAE - The UAE’s GDP is expected to double in 2024 to 4.8%, up from 2.4% year-on-year in 2023,...
Business
Most Read
Economy
Mawani gets 79.01 points in UNCTAD’s Liner Shipping Connectivity Index for Q4 2023
RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) attained its highest improvement in the UNCTAD's Liner Shipping Connectivity Index...
- This development aligns with the objectives of the National Transport and Logistics Strategy (NTLS).
- This achievement adds to the recent major records, including a score of 77.66 during Q3.
Economy
Saudi Arabia’s inflation rises to 1.7 percent in November: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia’s inflation rose to 1.7 percent in November compared with the previous month, according to recent data...
- The cost-of-living index for November rose to 110.06 points, according to the base year 2018, from 108.25 points in the same month a year earlier.
- The higher consumer price index (CPI) in November was mainly impacted by a 7.8 percent rise in housing, water, electricity, gas, and other fuel prices.
Economy
EU reaches deal to reform electricity market
The agreement will see states given the "possibility to exclusively support" the acquisition of new renewable generation, in line with...
- EU's plans are aimed at making the market less vulnerable to volatility
- The deal includes a regulation that will improve the EU's protection against market manipulation