United Kingdom renationalizes first train operator under Labor reforms
London, United Kingdom -- Britain's South Western Railways on Sunday becomes the first private train operator to be returned to...
Economy
China factory output beats forecasts, weathering tariffs
Beijing, China - Factory output in China grew at a faster rate than expected last month, official data showed Monday,...
Economy
Risks are interconnected, need collaborative solutions, says WEF’s Mark Elsner
World Economic Forum
Economy
US Federal Reserve’s preferred inflation gauge ticks up as fuel costs rise
WASHINGTON, US – The US central bank's favored measure of inflation edged higher last month on the back of rising fuel...
- The personal consumption expenditures price index rose at an annual rate of 2.5 percent in February.
- Much of the February increase in the cost of goods came from energy prices, which rose 2.3 percent from January.
Economy
GASTAT issues FDI statistics of Saudi Arabia for Q4 2023
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) issued on Friday the Foreign Direct Investment (FDI) statistics for...
- Total FDI in Saudi Arabia's economy during Q4 of 2023 totaled about US$5 billion.
- GASTAT said the results are based on a household survey conducted by the authority.
Economy
Gulf nations embark on defense industry localization
Saudi Arabia leads GCC efforts towards defense self-reliance by creating the first military industries committee, aiming to reduce foreign imports...
- Saudi Arabia leads GCC efforts towards defense self-reliance by creating the first military industries committee, aiming to reduce foreign imports and enhance local capabilities.
- The initiative targets over 50 percent nationalization of the military industry by 2030, driven by economic and technological sovereignty, aligning with the Saudi Vision 2030.
Business
Abu Dhabi Chamber sets up working group to support startups, SMEs
ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...
- This initiative aims to support and represent the interests of startups and SMEs in the region.
- The goal is to make Abu Dhabi the top choice for business in the Middle East and North Africa by 2025.
Business
TAQA, JERA sign pact with SATORP to develop plant in Saudi Arabia
ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...
- They will develop a greenfield industrial steam and electricity cogeneration plant for Amiral petrochemical complex.
- The Amiral petrochemical complex is expected to house one of the largest mixed-load steam crackers in the Arab Gulf region.
Economy
Rise in remittances hikes demand for Jordanian dinar, says chamber of commerce
AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar.Exchange companies...
- There are positive indicators suggesting a stabilization in Jordan’s economy.
- Presently the currency exchange sector comprises 250 firms across Jordan.
Economy
Dubai’s media revamp key to navigate new horizons
"There is a need to double efforts to develop a comprehensive blueprint outlining necessary policies to drive the media sector...
- Sheikh Ahmed bin Mohammed emphasizes the need for an immediate overhaul in Dubai's media sector.
- Proactive steps aim to align Dubai's media with international best practices and ethical standards, he adds.
Business
Qatar looks to boost tourism sector by streamlining regulations
Doha, Qatar-- Qatar is looking to develop "plans and strategies" to streamline procedures and regulations in order to solve solve...
- Chairman of Qatar Tourism Saad bin Ali bin Saad Al Kharji said Qatari tourism sector has witnessed significant development in recent years
- Al Kharji said that it is one of the main pillars of the state's strategy for economic diversification under the Qatar National Vision 2030
Economy
GCC leads the charge in global sustainability efforts
The region is spearheading sustainability initiatives to address climate challenges, with Saudi Arabia making significant strides towards renewable energy and...
- The bloc is spearheading sustainability initiatives to address climate challenges, with Saudi Arabia making significant strides towards renewable energy and clean technology.
- The EU's $3.6 billion climate tax on shipping pushes for greener maritime practices, while the environmental toll of war demands global accountability and swift action.
Economy
Jordan oil imports decline in January, boosting trade balance
Amman, Jordan--Jordan's import bill for crude oil, derivatives, and mineral oils saw a notable decline in January this year, according...
- According to the Department of Statistics, there was a decrease in the value of oil imports, totaling $361m for January, compared to $427.36m the last year
- The fall had a positive impact on Jordan's trade balance, with the overall value of imports declining by 19.7% in January compared to the previous year
United Kingdom renationalizes first train operator under Labor reforms
London, United Kingdom -- Britain's South Western Railways on Sunday becomes the first private train operator to be returned to...
Economy
Company News
Latest News
UNFPA and corporate partners drive reproductive justice in workplaces
World Economic Forum
Risks are interconnected, need collaborative solutions, says WEF’s Mark Elsner
World Economic Forum
Humanity’s future is increasingly inseparable from AI
Private sector, governments, and nonprofits must invest in AI education, Jason Alan Snyder tells TRENDS in an exclusive interview.
Economy
Electric, hybrid and aerial to entirely transform city life: IIT Madras expert
Easier commutes with faster, quieter, and eco-friendly vehicles would reduce travel times significantly and reduce stress for urban residents, says...
Interview
A new era of economic growth and productivity with AI
The technology will likely automate millions of jobs, Mark J. Penn, a US businessman, political strategist, and author tells TRENDS...
Economy
Most Read
Geostrategy
US trading partners hit back on steel, aluminum tariffs
The steep 25-percent levies came into place after midnight with no exemptions despite countries' efforts to avert them, in a...
- Canada, which is heavily exposed to the US steel and aluminum levies, announced additional tariffs of CAN$29.8 billion ($20.7 billion) on US goods, coming into force Thursday.
- Uncertainty over Trump's trade plans and worries that they could tip the world's biggest economy into a recession have roiled financial markets.
Economy
IMF approves additional $1.3 billion aid program for Egypt
Washington, United States - The International Monetary Fund has approved an additional $1.3 billion assistance program for Egypt under its...
- The Fund's Executive Board also completed the fourth review of an ongoing aid program, allowing for the immediate disbursement of $1.2 billion to Cairo
- Under the RSF, the IMF provides long-term loans to finance projects aimed at preparing countries for the effects of global warming and helping them with energy transition
Economy
Smart cities lead GCC’s IoT boom: NEOM and Smart Dubai in focus
IoT applications are transforming critical sectors such as transportation, where connected vehicles improve traffic management, utilities where smart grids enhance...
- For instance, to manage the flow of massive stadium crowds during the FIFA World Cup, Qatar leveraged “digital twins,” aggregating data from 40,000 IoT devices.
- In a similar vein, Dubai’s Enterprise Command and Control Center uses a combination of AI, digital camera, and thermal imaging technologies to oversee 11,000 surveillance cameras.