‘Authenticity, experiences, culture, generational and solo travel to lead tourism trends’
Visit Saudi, experience the warmth, generosity and hospitality of the people, Jerry Inzerillo tells TRENDS in an exclusive interview.
Business
Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer...
World Economic Forum
Business
Dubai Courts, Moro Hub ink pact to enhance cooperation in cyber security
DUBAI, UAE - Dubai Courts signed a Memorandum of Understanding with Moro Hub, a subsidiary of Digital DEWA, the digital...
- Leveraging on Moro’s capabilities, the MoU will serve the society’s interest in providing a comprehensive legal framework to combat cybercrimes.
- The MoU will help in exchange of knowledge and leverage on expertise as per Dubai Courts mission of achieving precise and swift justice.
Geostrategy
10 oil field workers killed in Syria attack, says state media
BEIRUT, LEBANON - An attack in eastern Syria killed 10 oil field workers, state news agency SANA reported on Friday, a...
- In addition to 10 dead, two others have been wounded in a terrorist attack that targeted three buses transporting workers from al-Taim oil field, state media said.
- The agency did not provide any information on the nature of the attack in the Kurdish-held area or who may be behind it,
Science
EAD imposes fines worth US$89,312 over environment violations
ABU DHABI, UAE - The Environment Agency – Abu Dhabi (EAD) has imposed 32 administrative fines, totaling US$89,312 (AED328,000) since...
- The Agency followed up with the violating establishments to ensure that corrective measures were taken to remove or mitigate the causes.
- Violations included submitting incorrect data to EAD, changing data contained in licenses, or polluting the soil, water or air in protected areas.
Surging UK energy bills spark tensions among tenants
In Britain, the average domestic energy bill has roughly doubled over the last 12 months. That has helped push inflation...
- Household electricity and gas bills have rocketed across Europe this year, after key energy producer Russia invaded Ukraine in February
- Simon Francis, campaigner at pressure group End Fuel Poverty expressed concern that some tenants - whose rent includes energy bills - might not benefit from state assistance
Economy
Debt spiral engulfs Turkish voters months before polls
Turkish media say the total number of debt recovery cases rose by about 1.5 million in a year and exceeded...
- The main banking regulator says the value of unpaid individual loans in the nation of 85 million people rose from 17 billion to 29 billion liras between March and September
- Economist Erinc Yeldan said Turkey was experiencing fallout from a years-long policy that encouraged cheap lending to achieve rapid rates of economic growth
Economy
AGFUND, AMF ink MoU to promote economic development in Arab region
The MoU will focus on supporting micro, small and medium-sized agricultural projects, and digital financial transformation.
- The MoU will focus on supporting micro, small and medium-sized agricultural projects, and digital financial transformation
- AGFUND also announced its support for the comprehensive economic reform programme signed between the AMF and the Yemeni government, funded by Saudi Arabia
Economy
Unemployment rates to decline in Saudi, UAE in 2023: report
Many markets in the Middle East and Africa show a larger gap between affluent and non-affluent households in 2019 vs...
- Many markets in the Middle East and Africa show a larger gap between affluent and non-affluent households in 2019 vs 2022 discretionary spending
- As food and energy costs eat up a greater share of the consumer budget, lower-income households will feel an especially strong pinch
YEARBOOK 2023
GCC banks to benefit from 2022 growth momentum
Since the COVID-19 outbreak, GCC banks have experienced a growth of more than 10 percent annually, a positive sign that...
- GCC banks will also reap the benefits of reduced overhead thanks to fewer branches and a smaller workforce.
- A few GCC banks have expanded into risky countries, especially Turkey and Egypt.
Geostrategy
Dubai court authorizes jailed Brit’s fraud extradition, say lawyers
DUBAI, UAE - A Dubai court Thursday authorized the extradition of a British national wanted over an alleged 1.7 billion...
- Hedge fund trader Sanjay Shah was arrested in Dubai in June, but the emirate's Court of Appeal in September rejected an extradition request by Denmark.
- Shah is accused of running a scheme for three years from 2012 in which foreign firms pretended to own shares in Danish companies and claimed tax refunds.
Business
TSMC begins making 3nm chips
TSMC operates the world's largest silicon wafer factories.
- TSMC is also Apple's primary chip supplier.
- Its 3nm-process chips are expected to have more processing power while using less power, boosting battery performance.
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
‘Authenticity, experiences, culture, generational and solo travel to lead tourism trends’
Visit Saudi, experience the warmth, generosity and hospitality of the people, Jerry Inzerillo tells TRENDS in an exclusive interview.
Business
Company News
DP World spends US$6bn
Business
Latest News
Time to transform climate commitments into action
"At COP28, governments need to focus on two timeframes: an immediate surge in climate action and a springboard for the...
Opinion
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...
Economy
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...
Infographics
Most Read
Economy
UAE to invest $20-25 bn in cash-strapped Pakistan
Abu Dhabi, UAE - The UAE and Pakistan recently sealed a significant deal, potentially injecting between $20 to $25 billion...
- The move comes as Pakistan grapples with economic challenges, including a balance of payments crisis and dwindling foreign exchange reserves
- Pakistan Prime Minister Kakar hailed the signing as a historic milestone that would elevate economic cooperation between the two nations
Business
Abha Valley has potential to be a tourist destination
ABHA, SAUDI ARABIA - Extending over 34 kilometers, the Abha Valley Basin enjoys a variety of wildlife aspects, civilizational features...
- The Abha Valley abounds in environmental diversity, which explains its array of mountain plants.
- The rugged areas of the highest point of the valley form the right habitat for the Arab tiger,
Economy
Saudi banks see moderate improvement in margins in Q3: report
Riyadh, Saudi Arabia - Operating income of Saudi banks increased by 2.9 percent QoQ, majorly due to net-interest income (NII)...
- Top 10 lenders demonstrate resilience with a 2.9 percent quarter-on quarter (QoQ) increase in operating income, fueled by robust net interest income growth
- Moderated credit growth is anticipated in Q4’2023, underscoring a positive economic outlook, driven by non-oil sectors and sustained government spending