Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria
Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...
World Economic Forum
There’s nothing more interlinked and global as international financial markets: Swiss president
In an exclusive interview with TRENDS, Swiss President Karin Keller-Sutter emphasized the critical role of financial stability in safeguarding global...
Economy
Economy
KSA beats economic challenges with non-oil revenue
Anticipated growth in non-oil sectors, including tourism, manufacturing, and financial services, is set to drive future economic expansion, says a...
- Anticipated growth in non-oil sectors, including tourism, manufacturing, and financial services, is set to drive future economic expansion, says a report.
- Govt initiatives, giga-projects, and tourism are pivotal for growth, while a balanced current account and strong reserves ensure Saudi stability until 2025.
Economy
World resource extraction could surge 60 percent by 2060, UN warns
Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...
- The hunger for natural resources -- everything from food to fossil fuels -- keeps growing by an average of more than 2.3 per cent per year, it said.
- Extraction and processing of the huge amount of resources accounts for over 60 percent of planet-warming emissions, the report said.
Business
Gold hovers near a month high on slowing US inflation
ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while...
- Gold rose after data suggested easing US price pressures.
- Traders awaited remarks from US Federal Reserve officials.
Economy
Masdar completes acquisition of 49% stake in Dogger Bank South project
Abu Dhabi, UAE--Masdar, the UAE’s clean energy powerhouse, has completed its acquisition of a 49 percent shareholding in the 3...
- The $13.89 billion joint investment with RWE is expected to provide a huge boost to the UK economy
- The investment builds on the $12.63bn UAE-UK Sovereign Investment Partnership to invest in energy transition
Economy
Investment and innovation behind Qatar’s tech success
Maher praises the Gulf country for its substantial efforts, investments, and innovative ideas that have transformed it into a prime...
- With its outstanding digital infrastructure and business-friendly policies, Qatar is on the fast track to becoming a leading hub for tech startups and major companies
- Hosting more than 15,000 participants from across the globe, Qatar demonstrates its capability to be at the forefront of the tech industry, fostering innovation.
Geostrategy
WTO ministers struggle to forge deals as talks go into overtime
ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as...
- The meeting opened with disagreements between the body's 164 member states on key issues that dominated the agenda of the talks.
- They include fisheries subsidies, agriculture and a moratorium on customs duties for digital transactions.
Business
Abu Dhabi residential sector achieves record growth in 2023, says report
ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...
- The increase in demand for residences has been driven by several positive initiatives and announcements by the government.
- Off-plan transactions accounted for approximately 84 percent of all villa and townhouse transactions.
Economy
WTO agri reforms key to global food and climate goals
"Australia maintains that global food security, climate, and biodiversity targets are unattainable without progress in agricultural trade reform, including the...
- Australia emphasizes the need for agricultural trade reforms at the WTO for global sustainability.
- Trade Minister Don Farrell leads discussions on trade reforms to combat poverty at WTO's MC13.
Business
Saudi Arabia permits over 350 firms to open regional HQ, mostly in Riyadh
Riyadh, Saudi Arabia -- Saudi Arabia has granted permission to more than 350 international companies to open their regional headquarters...
- Minister of Investment Khalid Al Falih said the Kingdom is transforming comprehensively through Vision 2030 by turning its economy green.
- He highlighted that new economic sector like the digital economy, and tourism will immensely develop human capital, demanding diverse skills and a new global outlook.
Economy
UAE presses for ‘sustainable development policies’ at BRICS meeting in Brazil
Sao Paulo, Brazil-- The UAE has affirmed that it collaborates with the BRICS nations in order to establish sustainable development...
- Al Hussaini said the UAE aims to boost cooperation between emerging and developing economies and set up governance frameworks on a global level
- The minister said they expect more fruitful collaboration among the group’s nations, which are increasing in importance and role in international affairs
Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria
Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...
World Economic Forum
Company News
Latest News
Riyadh leads Saudi Arabia’s date production with record sales
Riyadh, Saudi Arabia - Riyadh is currently hosting the third Seasonal Dates Exhibition, a major economic, social, and tourist event....
Economy
Qatar Airways seeking 25% stake in Virgin Australia
Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal...
Business
Saudi economy to register losses until 2027, says finance ministry
Saudi Arabia anticipates a budget deficit of 2.3 percent of GDP in 2025. Estimates put total government revenues for 2025...
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Economy
UAE airports see 14.2% passenger traffic surge in H1
Abu Dhabi, UAE -UAE's airports experienced a 14.2 percent increase in passenger traffic, in the first half of 2024, handling...
- A CBUAE report showed the increase in passenger traffic not only reinforces the UAE's status as a global aviation hub but also contributes to the national economy
- The report added that this growth in the aviation sector boosts tourism, trade and employment, further diversifying the UAE's economy
Putin expects Türkiye’s Erdogan to attend BRICS summit in Russia
Russian President Vladimir Putin said Wednesday he expected his Turkish counterpart Recep Tayyip Erdogan to attend a BRICS summit in...
- Putin says he was due to meet Erdogan on October 23 - a day after the start of the BRICS summit in Russia's Kazan
- "Our president has many times stated that we want to become a BRICS member," says Turkish main political party
Economy
Middle East & North Africa: Regulatory momentum and DeFi fuel crypto adoption
The Middle East & North Africa (MENA) region ranks as the seventh-largest crypto market globally in 2024, with an estimated...
- Centralized exchanges (CEXs) remain the primary source of crypto inflows across MENA
- Across MENA, stablecoins and altcoins are gaining market share over traditionally preferred assets like bitcoin and ether