Trump says Musk has ‘lost his mind’ as feud fallout mounts
Washington, United States - US President Donald Trump said Friday that Elon Musk had "lost his mind" but insisted he...
Economy
Lebanon on bumpy road to public transport revival
Beirut, Lebanon - On Beirut's chaotic, car-choked streets, Lebanese student Fatima Fakih rides a shiny purple bus to university, one...
Economy
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
Ten years from home World Cup, Saudi sizes up ‘huge challenge’
As the only bidder, Saudi Arabia was anointed host of the 2034 World Cup last October by FIFA. Infrastructure is...
- To host the 48-team World Cup, the country needs 14 all-seater stadiums capable of holding at least 40,000 people, according to the bid document
- Saudi sports ministry is preparing to issue tenders worth 10 billion riyals ($2.69 billion) to build and expand football venues, according to domestic media
Economy
Regulated dollar transactions on the rise in Iraq, says central bank
With dollars dominating the country's economy, Baghdad has imposed a series of restrictions on the use of American greenbacks domestically....
- Transactions through the Central Bank electronic platform -- which ensures compliance with SWIFT -- have considerably increased, the bank's vice governor Ammar Khalaf told
- "At the beginning of 2023, transactions were at $50 million per day. Now, we have around $200 million, which is consistent with the size of Iraq's economy," he added
Market Report
Geopolitical tensions boost oil, weigh on equities
Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...
- Moscow has escalated its aerial attacks on Kyiv, targeting key infrastructure in the wake of Ukrainian attacks on Russian oil facilities.
- Russia is a key producer of oil, while the Gaza-Israel war has given rise to worries about Middle Eastern crude supplies.
Business
Aramco CEO highlights collaboration with Beijing at forum in China
AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...
- The CEO acknowledged China's economic growth in recent decades, and expressed admiration for the country’s ability to overcome challenges.
- He underscored the possibility of fostering broader economic globalization by strengthening ties with Chinese partners.
Trump says Musk has ‘lost his mind’ as feud fallout mounts
Washington, United States - US President Donald Trump said Friday that Elon Musk had "lost his mind" but insisted he...
Economy
Company News
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From cars to champagne: Trump’s expanding tariffs trigger trade war fears
Paris, France -- From champagne to steel and now cars: it is getting harder to keep up with US President...
Geostrategy
Lebanon cabinet appoints Karim Souaid central bank governor
Born in 1964, Souaid officially takes over after embattled former chief Riad Salameh's term expired in July 2023 with no...
Geostrategy
Trump announces 25% tariffs on foreign-built vehicles
US President Donald Trump has announced steep tariffs on auto imports and parts, provoking threats of retaliation from trading partners...
Economy
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Science
EU skewers Google, Apple over tech rules – despite Trump threats
The European Union defied US threats of retaliation Wednesday by accusing Google of violating its digital rules -- which could...
- The moves risk opening up a new front in the already fraught relationship between the EU and President Donald Trump,
- Apple and Google responded that the EU risked European users' security and its moves would hinder innovation
Economy
AI, wealth management and trust: Could machines replace human advisors?
The future of wealth management lies in hybrid models, combining AI’s data-driven precision with human empathy and ethical oversight. While...
- By 2027, AI-driven investment tools are expected to become the primary source of advice for retail investors
- The question of AI’s impact on different factors and its overall implications is an important one to address.
Economy
OECD lowers global growth projections over tariffs, uncertainty
"We are navigating troubled waters," said the OECD's chief economist Alvaro Santos Pereira as he summed up the world's economic...
- While global economic activity remained "resilient" in 2024 with a 3.2 percent increase in GDP, the OECD trimmed back its 2025 projection from 3.3 percent growth to 3.1 percent.
- That was due to "higher trade barriers in several G20 economies and increased geopolitical and policy uncertainty weighing on investment and household spending".