Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria
Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...
World Economic Forum
There’s nothing more interlinked and global as international financial markets: Swiss president
In an exclusive interview with TRENDS, Swiss President Karin Keller-Sutter emphasized the critical role of financial stability in safeguarding global...
Economy
Geostrategy
UAE participates in First Framework Working Group meeting within G20 Finance Track
BENGALURU, INDIA - The UAE participated in the first Framework Working Group (FWG) meeting within the G20 Finance Track, which...
- Held for the first time under India’s G20 presidency in Bengaluru, the meeting sought to discuss the work plan for FWG in 2023.
- The meeting was also attended by G20 members, invited countries and representatives from international organizations.
Economy
Jordan arrests 44 after deadly fuel protests
AMMAN, JORDAN - Jordan has arrested dozens of people accused of involvement in protests against rising fuel prices in which a...
- Jordan's Public Security Directorate said that reinforcements had been sent to the violence-affected provinces.
- Jordan's King Abdullah II warned that "anyone who raises a weapon against the state will be dealt with firmly".
Economy
Jordan court sentences captagon smugglers to long prison terms
Amman, Jordan--Jordan’s judiciary on Thursday sentenced two men to long prison terms for attempting to smuggle nearly two million captagon...
- The two men, whose identities have not been disclosed, had attempted to smuggle more than 1.9 million captagon pills from Syria to Jordan in 2021
- The Jordanian army reported in February that an organized ring had attempted to smuggle drugs across the border into the country using drones
Economy
Lebanese bank faces depositor lawsuit following US court decision
In the midst of Lebanon's three-year financial collapse, banks have tightened controls on withdrawals in both US dollars and the...
- In the midst of Lebanon's three-year financial collapse, banks have tightened controls on withdrawals in both US dollars and the local currency
- Savers have challenged the restrictions in local and international courts, seeking to get back their money promptly in US dollars
Economy
Jordan, Iraq agree to extend MoU on importing Iraqi oil
Iraq is currently supplying Jordan with 10,000 barrels of oil per day (bpd).
- Iraq is currently supplying Jordan with 10,000 barrels of oil per day
- The average price of crude oil exported to Jordan reached $75.67
Economy
Britain, Dubai to deepen data partnership
There are as many as 5,000 British companies operating in the UAE, many of which depend on safe data transfers.
- There are as many as 5,000 British companies operating in the UAE, many of which depend on safe data transfers
- DIFC is the first financial centre in the MEASA region to engage with the UK Government on an adequacy assessment
Economy
Egypt to receive US$3 billion loan from IMF
Washington, United States--The Executive Board of the International Monetary Fund on Friday approved a $3 billion loan to Egypt, with an immediate...
- IMF said that Egypt is expected to receive, through the EFF program, about US$14 billion in additional financing "from its international and regional partners
- As the world's largest importer of wheat, it has been hit hard by soaring grain prices due to the Russian invasion of Ukraine
Economy
FIFA Cup helps Qatar, Egypt warm up bilateral ties
The two countries explore areas of joint cooperation to strengthen political, economic, investment and trade relations.
- The two countries explore areas of joint cooperation to strengthen political, economic, investment and trade relations
- Both seek to boost coordination of parliamentary positions between the two councils in regional and international forums
Geostrategy
France and Morocco mend ties after visa spat
RABAT, MOROCCO - France and Morocco announced Friday they were mending fences after months of tensions over visas, and said President...
- Speaking in Rabat alongside her Moroccan counterpart, French Foreign Minister said it was time to "write a new page together".
- French President Emmanuel Macron and Morocco's King Mohammed VI spoke by phone after their countries' dramatic World Cup semi-final clash.
Economy
Stocks markets, oil prices extend losses as experts warn of stagflation
After a healthy rally in recent weeks fuelled by signs that price rises were slowing, the US Federal Reserve, European...
- While inflation in most countries has started coming down -- helped by a drop in energy costs -- it remains at multi-decade highs.
- And observers have warned that economies could be heading for a period of stagflation where prices keep rising but growth stalls.
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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
Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria
Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...
World Economic Forum
Company News
Latest News
Qatar posts trade balance surplus of US$16.7bn in Q3 2023
DOHA, QATAR - The merchandise trade balance of Qatar (difference between total exports and imports) recorded a surplus of US$6.7...
Business
Saudi oil and non-oil exports fall by above 17 percent in Sept
Dubai, UAE -- Saudi Arabia’s oil exports fell by 17.1 percent (SAR 17.2 billion or $4.58 billion) in September, mainly...
Business
Gaza war: Israel stares at $48 billion in expenses
Dubai, UAE - The ongoing conflict between Israel and Gaza could result in a significant economic toll for Israel, with...
Economy
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Economy
Rising temperatures worry MENA region
The Middle East and North Africa (MENA) region faces severe climate change challenges, including water scarcity and extreme temperatures, with...
- With diverse strategies from GCC to non-GCC nations, the battle against climate change underscores a delicate balance between economic growth and environmental sustainability.
- In the MENA region, resource-rich GCC countries are better equipped to tackle climate change challenges that threaten food security, water resources, and biodiversity.
Economy
IEA urges oil firms to pour half their investments into clean energy by 2030
Paris, France--The International Energy Agency on Thursday called on oil and gas companies to devote half of their investments to clean...
- It exhorted producers to make the choice between worsening the climate crisis or helping to limit global warming to +1.5C, in line with the Paris Agreement
- IEA Executive Director Fatih Birol said that remaining unfazed in the face of a worsening climate crisis is "neither socially nor environmentally responsible"
Economy
Oil prices stall ahead of U.S. stocks data, potential OPEC+ cuts
Texas, US--Oil prices hardly moved during Asian trade on Wednesday as the market awaited potentially mixed news on the supply...
- The Organisation of the Petroleum Exporting Countries (OPEC) and allied producers are set to consider additional oil supply cuts when it meets on Nov. 26.
- The head of the IEA oil markets said that even if the OPEC+ nations extend their cuts into next year, the global oil market will see a slight supply surplus in 2024