China, Canada retaliate to Trump tariff war as markets fall
Washington, United States -- Mounting trade wars between the United States and its largest economic partners deepened Tuesday as huge...
Business
Stocks mostly rise, oil falls as Trump fans Ukraine peace hopes
London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...
Business
Economy
Qatari banks to shore up liquidity position, profits in 2023: report
Doha, Qatar-- As a windfall of the FIFA World Cup, banks in Qatar are expected to build profits and shore...
- The report noted that credit rating agencies see the banking sector in Qatar buoyant in 2023 , as their strong provisioning levels will help them maintain a good run for the year
- Domestic liquidity conditions are expected to help reduce Qatari banks’ reliance on external funding
Economy
Oil prices fall, but hovers near 2023 highs
Brent fell 36 cents, or 0.4 percent, to $84.92 a barrel, while US West Texas Intermediate crude fell 21 cents,...
- Brent fell 36 cents, or 0.4 percent, to $84.92 a barrel, while US West Texas Intermediate crude fell 21 cents, or 0.3 percent
- Last week, oil prices booked their largest weekly increase since October 2022, bouncing back from a significant crash at the start of the year
Economy
King Abdullah stresses building infrastructure in Petra to boost tourism
Petra, Jordan--King Abdullah on Sunday highlighted the importance of further developing the city of Petra, and diversifying its tourism product....
- King Abdullah said developing tourism services in the "golden triangle" of Petra, Wadi Rum, and Aqaba, will have a positive impact on Petra and Jordan at large
- The number of visitors rose to 905,000 in 2022, increasing by 283 per cent compared to 2021
Economy
Most Asian markets rise on optimism
Inflation slows and China reopens to the world, give a boost to markets.
- China’s emergence from zero-Covid and pledges to boost key sectors are raising hopes for a strong rebound in 2023
- After last year's battering caused by surging prices and central bank interest rate hikes, there is a much calmer mood on trading floors
Economy
UAE and US form expert group to govern clean energy partnership
The formation of the bilateral body to govern the Partnership for Accelerating Clean Energy (PACE) will be composed of private...
- It will cover a wide range of proven and emerging technologies, include private and public sector support
- PACE financing will support established renewable energy sources like solar and nuclear, as well as new applications such as green hydrogen and carbon capture
Economy
Innovation plays key role in tackling climate change
“The COP28 UAE is focused on delivering concrete and pragmatic solutions to ensure 1.5°C remains alive and within reach. This...
- The UAE supports the renewables-centered energy transition pathway and considers it an important contributing element to the proceedings of the COP28, says Almheiri
- The COP28 UAE Presidency will further prioritize the needs of the world’s most vulnerable communities to advance loss and damage funding arrangements, the minister adds
Business
15 top panels to discuss defense advancements in IDEX, NAVDEX 2023
ABU DHABI, UAE - IDEX and NAVDEX 2023 exhibitions, to be held from February 20-23 in Abu Dhabi, will host...
- The panels will feature prominent leaders and decision makers from around the world
- The panels are an ideal platform for facilitating discussions about relevant focus areas in the defense and naval defense sectors
Geostrategy
UAE, Korea discuss partnership in renewable energy, technology
The two sides discussed various paths of cooperation and development in the investment, economic, scientific, cultural and advanced technology fields.
- The two sides discussed various paths of cooperation and development in the investment, economic, scientific, cultural and advanced technology fields.
- Both the countries also reviewed partnership in renewable energy and other vital areas of interest within their two countries' future plans.
Business
Majid Al Futtaim among firms to halve real estate emissions by 2030
These companies also pledged to reach net-zero carbon no later than 2050. With buildings contributing 38 percent of all energy-related...
- Avison Young, Edge, GPFI Group, Ivanhoé Cambridge, JLL Schneider Electric and Signify were the other firms that pledged the emissions cut.
- These firms will meet these targets by implementing the Forum’s Green Buildings Principles, which provides a sequence of steps to deliver net-zero carbon real-estate portfolio.
Science
WEF’s Open Forum from Jan 16-20 to focus on global environment
DAVOS-KLOSTERS, SWITZERLAND – As part of the World Economic Forum Annual Meeting 2023, this year’s Open Forum Davos from January...
- Leaders from all walks of life will explore opportunities and solutions for the many environmental crises that the world is facing.
- The meet will discuss the lessons the world has learned, and the biggest challenges the people face in the fight to stabilize the climate.
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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
China, Canada retaliate to Trump tariff war as markets fall
Washington, United States -- Mounting trade wars between the United States and its largest economic partners deepened Tuesday as huge...
Business
Company News
Latest News
Saudi Arabia offers 30-year tax cut to businesses shifting hqrs to kingdom
Riyadh, Saudi Arabia - Saudi Arabia has rolled out a 30-year tax relief program aiming to lure multinational corporations to...
Economy
People-positive approach needed in clean power transition: WEF paper
Dubai, UAE -- Building massive infrastructure for clean power projects in pursuit of climate goals will need nearly $4.5 trillion in...
Business
KSA offers 30-year tax holiday for global corporations as regional HQ program fuels investment boom
The approaching 1 Jan deadline has seen investments on headquarters hit $242m in the first nine months of 2023 alone,...
Business
Most Read
COP28 UAE
US pledges climate aid for cities, more private sector finance
Samantha Power, administrator of the US Agency for International Development, is visiting the COP28 summit where nations are wrangling over...
- USAID promised $53mn to help 23 cities in the developing world switch to low-carbon activities
- It would mobilize another $2.3bn in private-sector investment to climate-resilient food infrastructure
Economy
One in five children in rich countries lives in poverty: UNICEF
Sixty-nine million children live in poverty in the world's 40 richest countries, UNICEF said in a report, blasting Britain and...
- UNICEF figure is based on relative poverty, which is around 60 percent of the national median income
- The report also highlights the greater risk of poverty for children from single-parent families
Economy
Investments strengthen Türkiye-GCC economic ties
The strategic partnerships, including substantial financial support from UAE and Qatar, mark a new era in Türkiye-GCC ties, promising to...
- The strategic partnerships, including substantial financial support from UAE and Qatar, mark a new era in Türkiye-GCC ties, promising to significantly boost bilateral trade.
- Türkiye-GCC relations are revitalized through billion-dollar deals and support for Turkey's post-earthquake recovery, aiming to triple trade with the Gulf by 2030.