Rudolph Lohmeyer: The Gulf is redefining the global future, not just adapting to it
The Middle East must counter global economic divergence by enhancing regional financial integration to drive collective growth, Rudolph Lohmeyer tells...
Business
FED keeps interest rates unchanged
The Federal Reserve kept interest rates at the current target range of 4.25 percent to 4.50 percent after its January meeting, according...
Economy
Croatia embraces euro, joins borderless Europe club
Experts say the adoption of the euro will help shield Croatia's economy at a time when inflation is soaring worldwide...
- At midnight (2300 GMT Saturday) the Balkan nation bid farewell to its kuna currency and become the 20th member of the eurozone
- EU chief Ursula von der Leyen will visit Croatia later Sunday to mark the momentous occasion
Business
Saudi Ministry of Industry, Hyundai Motor ink MoU to build cars in Kingdom
RIYADH, SAUDI ARABIA - Saudi Ministry of Industry and Mineral Resources has signed a memorandum of understanding with Hyundai Motor...
- The agreement aims at enhancing cooperation in a way that realizes the national strategic goals for industry in developing local manufacturing capabilities.
- The MoU stipulates building an assembly plant with the CKD system for electric cars and internal combustion engines cars in Saudi Arabia.
Economy
Egypt pushes for bigger private sector role in economy
Cairo, Egypt--Egypt’s President Abdel Fattah El-Sisi on Thursday approved a document outlining 62 economic activities the state will withdraw from...
- The document’s approval was required by the International Monetary Fund, which this month approved a 46-month, $3 billion financial support package for Egypt
- The policy aims to give the private sector a greater role in helping to grow the economy, create jobs and increase investment and exports
Economy
China’s manufacturing activity drops despite lifted Covid restrictions
For more than two years, China had insisted on a zero-Covid strategy of stamping out outbreaks with strict quarantines, lockdowns...
- The Purchasing Managers' Index (PMI) -- a key gauge of manufacturing in the world's second-biggest economy -- came in at 47 points, down from November's 48
- The index has not been in positive territory since September, and December's figure was lower than the 47.8 reading predicted by Bloomberg analysts
Economy
UAE secured 41.5% of Japan’s crude oil needs in November
Japan imported a total of 77.53 million barrels in the month, according to the Japanese Ministry of Economy, Trade and...
- Japan imported a total of 77.53 million barrels in the month, according to the Japanese Ministry of Economy, Trade and Industry
- Over 95%, originated from six Arab countries: UAE, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman, with the Emirates being the Asian nation's top exporter of oil
Economy
UAE tops Arab world in exports worth US$142.5bn in 2021
Abu Dhabi--The UAE ranked first in the Arab world in terms of the value of manufactured exports in 2021, with...
- The UAE's manufacturing industry exports account for 43.9 percent of overall Arab exports of manufacture, owing to strong growth in the field of re-exports
- In Arab countries manufacturing industry exports totaled $325 billion in 2021, up from $244 billion in 2020, a 33.2 percent increase
Economy
Gold set for strong quarterly rise after interest rate-driven drop
Gold prices moved up on Friday, as the non-yielding metal is on course to close its best quarter since June...
- Gold prices moved up on Friday, as the non-yielding metal is on course to close its best quarter since June 2020
- Back-to-back rate hikes by the US central bank pushed gold to a more than two-year low in September
YEARBOOK 2023
Inflation, uncertainty rule as 2022 comes to an end
The country profiles -- arranged in alphabetical order -- summarize recent data, presenting statistical narratives of a country that include...
- As the new year is set to begin, TRENDS wishes all its readers a very happy and prosperous New Year.
- We also consider it crucial to review and document the profiles of the important countries in the region and across the world.
YEARBOOK 2023
Data set to drive GCC telecom growth in 2023
Mobile data service revenues are expected to reach 60 percent of the total GCC mobile service revenues by 2026.
- The GCC mobile market is forecasted to grow meagerly at a CAGR of 1.9 percent during 2021-26.
- To arrest a further decline in voice revenues, mobile operators have been selling mobile voice and data service bundles.
Business
Dubai records US$2.6bn in weekly real estate transactions
DUBAI, UAE - A total of 2,790 real estate transactions worth US$2.6 billion (AED9.6 billion) were conducted during the week...
- A total of 2,790 real estate transactions worth $2.6 billion were conducted during the week ending December 30, 2022.
- The DLD report showed that 179 plots were sold for $378 million.
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
Rudolph Lohmeyer: The Gulf is redefining the global future, not just adapting to it
The Middle East must counter global economic divergence by enhancing regional financial integration to drive collective growth, Rudolph Lohmeyer tells...
Business
Company News
Latest News
DP World spends US$6bn
Business
MoHRE asks over 12,000 private firms to meet Emiratization targets
DUBAI, UAE – The Ministry of Human Resources and Emiratization (MoHRE) has notified over 12,000 private companies with 20-49 workers...
Geostrategy
Debt Settlement Fund waives default loans worth over US$107m in UAE
DUBAI, UAE - The Citizens Debts Settlement Fund announced the exemption of 1,244 citizens from their debts with a total...
Geostrategy
UAE and Cuba look to boost economic, energy ties
The discussions between the UAE president and the Cuban president at Expo City Dubai focused on cooperation in various fields...
Economy
Most Read
Economy
Oil prices inch up on mixed day for US stocks
World stock markets have made robust gains in recent weeks on hopes that the US central bank had finished with...
- Fed Governor Christopher Waller said he was "encouraged" by recent progress on the economy
- Market analysts say the gain came "as expectations build on the prospect of another output cut"
Infographics
Water stress levels vary in Arab countries
Some countries face more intense competition for water resources, leading to potentially severe environmental impacts. The contrast underscores the diverse...
- The region needs to develop and implement sustainable water management strategies to mitigate the growing water scarcity and its potential impacts.
- The high stress levels in GCC, in particular, highlight an urgent need for these nations to develop and implement sustainable water management strategies.
Business
Abu Dhabi IPO Fund looks to launch three IPOs by end of 2024
Abu Dhabi, UAE--Abu Dhabi IPO Fund (ADIPOF) is working on three initial offerings in the technology, hospitality, restaurants, and financial...
- Al Khawaja said one of the offerings will be for a family business in the financial sector and foreign exchange and remittances
- The fund, according to Al Khawaja, considers family businesses as the key to advancing economic development in Abu Dhabi