New-Age Growth Comes Home to the GCC
The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading...
Opinion
Future of Humanity – TRENDS’ yearly Special Issue now online
Dubai, UAE -- TRENDS’ yearly Special Issue is out. This year’s edition, titled Future of Humanity, explores key global shifts...
Geostrategy
Science
Minister reiterates UAE’s support for global biodiversity framework at meeting
MONTREAL, CANADA - UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri participated in the High-Level Segment...
- Almheiri urged other ministers to work together towards achieving the meeting’s objective of adopting the post-2020 global biodiversity framework.
- The minister called for reversing biodiversity loss and realize the 2050 Vision for Biodiversity of a world living in harmony with nature.
Economy
DEWA launches construction work of Hatta Sustainable Waterfalls project
DUBAI, UAE - MD & CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer has launched the...
- The Hatta Sustainable Waterfalls project is unique for its innovative architectural idea.
- The Hatta Sustainable Waterfalls project will use the slope of the upper dam of Hatta plant to create a natural waterfall.
Economy
Asian markets join Wall Street advance as recession worries subdue
With dust settling after the Bank of Japan's surprise shift from ultra-loose monetary policy, investors embarked on a mini Santa...
- The global gains came after hefty selling since the Fed and European Central Bank signalled they would likely lift interest rates higher than expected to fight inflation.
- All three main indexes on Wall Street ended more than one percent higher, while European equities also barrelled along.
Economy
Crypto can cause global economic turmoil: India’s central bank chief
Mumbai, India - India's central bank governor warned Wednesday that cryptocurrency markets risked causing the next global financial crisis, saying the...
- The comments close out a challenging year for India's millions of crypto owners, who are already reeling from a global market collapse and steep domestic taxes.
- Cryptocurrencies have been under the scrutiny of Indian regulators with a rise in fraudulent transactions leading to a central bank ban in 2018.
Business
UAE, Morocco discuss ways to boost cooperation in energy, industry
Rabat, Morocco - UAE and Morocco discussed ways of boosting their cooperation and investment opportunities in industry, economy, investments, culture,...
- The discussion occurred between Sultan Ahmed Al Jaber, UAE's Minister of Industry and Advanced Technology and Aziz Akhannouch, Prime Minister of Morocco.
- Al Jaber also held meetings with Riyad Mazour, Moroccan Minister of Industry and Trade, and Leila Benali, Moroccan Minister of Energy Transition and Sustainable Development.
Economy
Morocco to deploy football World Cup exploits to make diplomatic gains
Rabat, Morocco--Morocco is hoping its unprecedented World Cup exploits can help it win friends and influence people, especially among an Arab...
- Support for the Atlas Lions surged as they battled their way to the semi-final of the football World Cup in Qatar -- the first Arab or African team ever to get so far
- The kingdom already had a track record of using "football diplomacy" to boost its ties with African countries, signing at least 30 cooperation deals with other federations
Economy
National banks’ financing of trade, industry sectors totalled $10bn in 9 months: CBUAE
The statistics showed that the cumulative balance of credit provided by national banks to the trade and industry sectors reached...
- The statistics showed that the cumulative balance of credit provided by national banks to the trade and industry sectors reached $196 billion at the end of August
- According to the central bank’s data, the cumulative balance of credit provided by national banks to the two sectors increased annually by 4.83 percent
Economy
German consumers look to 2023 with upbeat mood
A survey undertaken in Germany has revealed that consumers are heading into 2023 feeling upbeat as government interventions take some...
- The more upbeat mood comes as energy prices have eased off after hitting record highs in the wake of Russia's war in Ukraine
- The influential IfW Kiel institute has even predicted that the economy would dodge a recession altogether due to the government relief measures
Countries pledge to support Iraq’s ‘stability’ at Jordan summit
Iraq has been caught for years in a delicate balancing act between its two main allies, the United States and...
- The "Baghdad II" meeting in Jordan, which also included officials from France and the European Union, followed an August 2021 summit in Iraq's capital
- King Abdullah II emphasized Iraq's pivotal role in maintaining regional stability, while Egyptian President emphasized his country's rejection of all foreign interventions in Iraq
Economy
Gas giant Algeria slams EU gas price cap
Algeria "doesn't support the idea of limiting prices", Energy Minister Mohamed Arkab said, speaking a day after EU energy ministers...
- The EU price cap, agreed Monday after months of negotiations, will apply from February 15 and run for a year
- EU countries are worried that they will have a hard time filling gas storage tanks in time for next winter
New-Age Growth Comes Home to the GCC
The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading...
Opinion
Company News
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
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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