The future is already here
Humanity is on a tech-fueled trajectory. Data and informed predictions are inspiring, showing how AI is reshaping economies, smart cities...
Analysis
Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...
Economy
Economy
US trade deficit widens in 2022 to record on strong imports
US trade gap widened to a record in 2022, though expanding less than expected in December, government data said, capping...
- This marks the biggest deficit in government data dating back to 1960.
- In December, the trade deficit expanded $6.4 billion to $67.4 billion, said the Commerce Department.
Market Report
Stocks steady, dollar higher on US rate-hike expectations
Stock markets largely steadied and the dollar rose with traders forecasting US interest rates to keep climbing following last week's...
- January's rally for equities was halted as investors contemplate an extended period of high borrowing costs.
- Leading Asian stock markets and London managed gains Tuesday after all three main indices on Wall Street kicked off the week with losses.
Business
DEWA updates strategic plan to include achieving net-zero by 2050
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has updated its strategic plan, adding achieving net-zero by 2050 to...
- DEWA is steadily moving towards reducing its carbon footprint to achieve a sustainable net-zero carbon by 2050.
- The production capacity of clean energy in Dubai is around 14 percent of total power generated.
Economy
UAE Pension Authority to focus on awareness among Emirati employees
ABU DHABI, UAE - The General Pension and Social Security Authority (GPSSA) of UAE has announced its key strategic objectives...
- The authority said that it serve the community with utmost promptness and professionalism.
- There are presently 95,935 Emirati employees working in 9,082 federal, government and private entities in the UAE, who are insured by the GPSSA.
Economy
Lebanese banks start strike to press measures to tackle financial crisis
Lebanese Banks Association is demanding a capital control law that would enshrine informal restrictions on withdrawals in hard currency and...
- Lebanese Banks Association is demanding a capital control law that would enshrine informal restrictions on withdrawals in hard currency and Lebanese pounds
- The Lebanese liquidity crisis first imploded in August 2019, and was further aggravated by both the COVID-19 pandemic in Lebanon and the 2020 Beirut port explosion
Economy
UAE to send humanitarian aid worth US$13.6m to Syria
Hours after the earthquake killed at least 1,000 people and caused massive level of destruction in Syria, the UAE has...
- According to the official media, Emirati Prime Minister Sheikh Mohammed bin Rashid Al Maktoum "directed urgent humanitarian aid to those affected in Syria"
- The UAE said it was planning to establish a field hospital in Turkey and will also send search and rescue teams to Syria, along with urgent relief supplies and emergency aid
Economy
Israeli ‘reforms’ may hit economy, fear businesses
Israeli premier Benjamin Netanyahu says the 'reform', which will give Israel's parliament the power to override court decisions with a...
- Israeli premier Benjamin Netanyahu says the 'reform', which will give Israel's parliament the power to override court decisions with a bare majority, won't impact the economy
- Critics say the move will give unlimited power to cabinet and destroy Israel’s delicate system of checks and balances, They accuse Netanyahu of pushing the change to escape jail
Business
UAE tops globally in tertiary education
For the 12th year in a row, Switzerland leads the ranks on the Global Innovation Index. South Korea was the...
- The 2022 GII says it tracks the most recent global innovation trends against the background of the pandemic, slowing productivity growth and other evolving challenges.
- It looks at whether stagnation and low productivity growth are here to stay, or whether we are about to enter a new era, where new innovation spurts.
Business
Rothschild family to take investment bank private
The Rothschild family is set to take its investment bank private as its holding company announced plans to buy out...
- The offer would be priced at 48 euros per share, or 19 percent higher than Friday's closing price, the holding said in a statement.
- It is also 15 percent up from the all-time high reached in January 2022.
Business
Newmont offers to buy Newcrest
If the deal is sealed, it would be gold sector's largest acquisition.
- Newmont's offer calls for the merged firm to be 70 percent owned by the Denver, Colorado-based company and 30 percent owned by the Australian firm.
- Newcrest's share price rose 9.27 percent to $16.90 (A$24.53) on the ASX on Monday.
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
The future is already here
Humanity is on a tech-fueled trajectory. Data and informed predictions are inspiring, showing how AI is reshaping economies, smart cities...
Analysis
Company News
Latest News
Jordan’s mission to save its ancient olive trees
Jordan's culture ministry, Gharaibeh's organization is working to add the trees to the UNESCO Intangible World Heritage List, hoping this...
Economy
Riyadh Season draws 9 million visitors to its entertainment zones
Riyadh, Saudi Arabia - The number of visitors to Riyadh Season has surged to over 9 million, indicating a significant...
Business
‘Investment policies must align with net-zero goals’
An alliance of public and private sectors is crucial for advancing the green agenda and effectively managing supply chain emissions,...
COP28 UAE
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Economy
UAE witnesses 7% rise in youth green skills in 2023
“We will work to create about 135,000 jobs in the field of green transition worldwide, and therefore ensuring that there...
- The World Bank's Green Initiative dedicates 45% of its annual financing to climate-related projects, with a strong emphasis on developing green skills.
- The apex global bank has a focused plan to create 135,000 jobs globally in the green transition sector, says Safaa El Tayeb El-Kogali of the World Bank.
COP28 UAE
Protecting nature may avert $2.7trn global economic losses: World Bank
Dubai, UAE-- Protecting nature could avert global economic losses by 2030 of US$2.7 trillion per year, or 2.3 percent annually,...
- Hickey said low-income countries may lose nearly 10 percent of their GDP annually by 2030 if select ecosystem services, such as forests, fisheries collapse
- She said that the loss of nature is at the core of central development challenges, mainly health, inequality, climate change, food security and energy
COP28 UAE
COP28 last chance to keep 1.5C target alive: John Kerry
US climate envoy issued the warning after COP28 president Sultan Al Jaber proposed a draft deal that did not include...
- He said that nobody at COP28 wants to be part of the failure to live up to this responsibility
- The 2015 Paris Agreement set the increasingly elusive target of limiting warming to 1.5 degrees Celsius