Trump stings friends and foes alike in his tariffs war, countries eye trade talks
The tariff announcements rattled stock markets while safe haven gold hit a new record high, oil prices fell and the...
Economy
Automakers lead market losses after Trump tariffs on imported vehicles
Wall Street's main indexes opened in the red, with General Motors sinking more than nine percent in early trading while...
Business
Arts & Culture
Dubai is the new destination wedding choice for couples
DUBAI, UAE- Dubai is fast emerging as the city of choice for destination weddings, with a growing number of event...
- This is in line with the efforts aimed at boosting the emirate's stature as a perfect place for living, work and visit, and a global destination for weddings
- Globally, people are choosing Dubai to celebrate not only weddings, but also milestone celebrations and personal occasions
Economy
Tourism in Iraq can be a success, says First Deputy Speaker of Parliament
BAGHDAD, IRAQ - First Deputy Speaker of Parliament Mohsen Al-Mandalawi said that the tourism sector in Iraq has all the...
- Tourism in Iraq can be successful, says First Deputy Speaker of Parliament.
- The First Deputy Speaker met with the Association of Travel and Tourism Companies in Iraq.
Geostrategy
UAE takes part in G20’s first Health Working Group meeting
NEW DELHI, INDIA - The UAE participated in G20'S first health working group session held in India from January 18...
- The aim of the meeting was to discuss the priorities for the health track within G20 under the Indian presidency this year.
- It will also focus on access to safe, effective, quality and affordable medical countermeasures.
Economy
Key US inflation gauge slows in December while spending falls
The tightening measures are showing effect, with the Fed's preferred inflation gauge, the personal consumption expenditures (PCE) price index rising...
- The Federal Reserve has hiked the benchmark lending rate seven times last year, with an aim to ease demand as inflation surged
- The indicator ticked up 0.1 percent from November to December, as prices for goods decreased 0.7 percent and energy costs dropped 5.1 percent, said the report
Interview
Solar power energizes GCC’s sustainability drive
Solar-photovoltaic panel in a GCC country produces twice as much output as it would in Germany or any similar European...
- Solar-photovoltaic panel in a GCC country produces twice as much output as it would in Germany or any similar European country, ZOLA Electric CEO Bill Lenihan tells TRENDS.
- Solar power plants in the Gulf region can expect 1,750 to 1,930 hours of full-load operation per year, while European countries such as Germany register only 940 hours of load
EU mission to Armenia will fuel confrontation, says Russia
The mission has been launched during what Armenia describes as a "humanitarian crisis" ravaging the breakaway region of Nagorno-Karabakh. Since...
- Moscow has sought to maintain its role as a powerbroker between the ex-Soviet republics despite being bogged down in its offensive in Ukraine
- On Monday, the EU launched a civilian mission to help monitor Armenia's border with Azerbaijan, bolstering the bloc's role in a region
Egypt, India launch ‘strategic partnership’ to boost trade
The two leaders agreed to increase Indian investments in Egypt, which currently stand at "over $3.15 billion" according to their...
- India is Egypt's seventh-largest trading partner, according to Cairo's central bank's data, with a joint statement touting record high of $7.26 billion during the last fiscal year
- Modi hosted Sisi on Thursday as "guest of honor" for a Republic Day ceremony, marking the anniversary of the adoption of India's post-independence constitution
Economy
Year of Sustainability a springboard for global climate action, says Sheikha Shamma of UICCA
Containing the fallout of climate change, addressing related damage and losses, and meeting the relevant needs of developing countries are...
- Containing the fallout of climate change, addressing related damage and losses, and meeting the relevant needs of developing countries are key challenges, says Sheikha Shamma
- The UAE’s leadership is prioritising the issue of climate change and has taken proactive steps to accelerate the pace of its climate action efforts, she adds
Economy
Tunisia milk market ‘collapsing’ as feed prices soar
Since October, many shops in Tunisia have restricted milk purchases to two cartons per person as consumers scramble for limited...
- The North African country's farming union says the price of cattle feed has risen by up to 40 percent in the past year
- The dairy sector's woes have been exacerbated by years of drought, drying up reservoirs and making it harder for farmers to grow their own fodder
YEARBOOK 2023
Realty may help GCC economies grow 3.3% this year
The Gulf countries are witnessing an increase in investors' confidence due to the region's comparatively good economic conditions, a latest...
- The Gulf countries are witnessing an increase in investors' confidence due to the region's comparatively good economic conditions, a latest JLL report highlights
- Since mid-2020, the oil price has rebounded strongly, boosting consumer and investor confidence and resulted in significant financial infusions into the real estate market
Trump stings friends and foes alike in his tariffs war, countries eye trade talks
The tariff announcements rattled stock markets while safe haven gold hit a new record high, oil prices fell and the...
Economy
Company News
Latest News
China, Saudi Arabia sign 60 pacts worth $25bn at Beijing conference
Beijing, China - China and Saudi Arabia signed over 60 MoUs and agreements worth over $25 billion at the investment...
Economy
World unites at COP28 to shift away from fossil fuels
Nearly 200 nations in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step...
COP28 UAE
CBUAE joins the Gulf payments system AFAQ
Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) joined AFAQ Payments System, which is operated by the Gulf...
Business
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Economy
Global trade likely to decline in 2023 due to changing trade patterns, geopolitics
DUBAI, UAE - The outlook for 2024 remains “highly uncertain and generally pessimistic,” UNCTAD says in the Global Trade Update,...
- Other elements affecting trade include lower demand in developed countries, less trade in East Asia and an uptick in trade-restrictive measures.
- The elements also include an uptick in trade-restrictive measures and lengthening supply chains, particularly between China and the US.
Economy
El Salvador to issue bitcoin bonds in first quarter of 2024
With bitcoin, Bukele sought to make it easier, and cheaper, for Salvadorans to receive remittances and to provide financial services...
- Bitcoin became a legal currency in El Salvador, alongside the US dollar, in 2021 at the behest of President Nayib Bukele
- In 2021, Bukele announced a plan to build a "Bitcoin City" in the east of the country, which would be powered by thermal energy from a volcano
Public-private partnerships play key role in environmental finance, says EIF official
DUBAI, UAE – Public-private partnerships have the potential to play a significant role in mobilizing private financing for environmental solutions,...
- The European Investment Fund seeks to address environmental and biodiversity challenges as part of its climate position.
- The European fund has significantly committed to the green transition by mobilizing US$ 2.15 billion in funding.