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
IMF projects 3.3% global growth for 2025, MENA to rebound to 3.6%
Dubai, UAE -- The International Monterey Fund (IMF) has projected global growth to remain at 3.3 percent this year and...
Economy
Economy
With growing trade, energy ties, Germany and UAE look forward to hydrogen future, says envoy
“The UAE is Germany's most important trading partner in the region, with German exports to the UAE totalling US$8.4 billion...
- Beside growing trade, cooperation in decarbonization to tackle climate change opens an opportunity for Germany and the UAE to look forward to a hydrogen future, says German envoy
- The UAE is Germany's most important trading partner in the region, with German exports to the UAE totalling US$8.4bn in 2021, says German Ambassador to the UAE Alexander Schönfelde
Market Report
Stocks sink globally as central banks hike rates, data fan recession fears
Global stocks sank as central banks hiked interest rates again and signaled they needed to go higher to tame inflation....
- ECB president Christine Lagarde warned that inflation in the 19-nation eurozone was still "far too high" and more action needed to be taken.
- The world's major central banks are seeking to dampen red-hot inflation.
Economy
US industrial output decreases in November
Industrial production in the US slumped in November with "broad based" decreases, the Federal Reserve said, as output for bigger-ticket...
- The Fed has raised its benchmark lending rate seven times this year in an effort to cool the world's biggest economy.
- Total output dropped 0.2 percent in November, with the first decline in months defying analysts' expectations of an uptick, according to Fed data.
Business
ECI inks MoU with RAKEZ to help Ras Al Khaimah’s non-oil trade
DUBAI, UAE - Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed an MoU with Ras Al Khaimah...
- ECI to provide RAKEZ members access to flexible state-backed trade finance support.
- As of November 2022, ECI has facilitated US$71 million worth of secured non-oil trade for businesses operating in Ras Al Khaimah.
Economy
Gulf central banks raise interest in line with Federal Reserve hike
Dubai, UAE--– The central banks of Saudi Arabia, Bahrain, and Qatar increased their interest rates following the US Federal Reserve...
- Since the costs in the GCC are pegged to the dollar, the central banks in the region follow the Fed rate changes.
- The Saudi Central Bank, known as Sama, the Central Bank of Bahrain and Qatar Central Bank upped their interest rates by 50 basis points.
Geostrategy
Tunisia awaits languid election for powerless parliament
Over a decade since the country's revolution that unseated dictator Zine El Abidine Ben Ali, opposition parties have urged a...
- The previous legislature had far-reaching powers, in the mixed presidential-parliamentary system enshrined in the North African country's post-revolt constitution
- In July this year, Saied used a widely shunned referendum to push through a new constitution, stripping parliament of any real clout and giving his own office unlimited powers
Economy
Saudi inflation rate eases to 2.9 percent in November
Housing rents rose by 5.4 percent, bringing the overall housing, water, electric, gas, and other fuels increase to 4.7 percent.
- Housing rents rose by 5.4 percent, bringing the overall housing, water, electric, gas, and other fuels increase to 4.7 percent
- In the last couple of months, food prices rose by 3.6 percent while transport costs have increased by 4 percent
Economy
WHO sees Covid-19 emergency dying out in 2023
Urging China to share information that might pinpoint how the pandemic started, the WHO has said that it was hoping...
- The WHO's emergency committee on Covid-19 will discuss the criteria for declaring an end to the emergency phase when they next meet in January
- Nearly 650 million confirmed Covid cases and more than 6.6 million deaths have been reported to the WHO, though the UN health agency acknowledges this will be a vast undercount
Economy
EU leaders meeting in Brussels to focus on trade dispute with US
The EU summit was to also examine the situation, and consequences in Europe, of Russia's war in Ukraine, which European...
- Brussels views the "Buy American" condition for purchasers of electric vehicles mainly made in the United States as discriminatory against European car manufacturers
- EU chief said the e-vehicle subsidies contained in a broader US Inflation Reduction Act "risk un-levelling the playing field and discriminating against European companies
Economy
UAE bank investments up to $132bn by September end
According to CBUAE's figures, debt securities accounted for 49.5 percent of these investments, hitting $66 billion.
- According to CBUAE's figures, debt securities accounted for 49.5 percent of these investments, hitting $66 billion
- Held-to-maturity-securities comprised 38.9 percent, or $51 billion of the total investments
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
Company News
Latest News
Monsha’at reports Q3 rise in SMEs driven by growth across non-oil sectors
RIYADH, SAUDI ARABIA - The General Authority for Small and Medium Enterprises (Monsha'at) has released its latest quarterly SME Monitor,...
Economy
Bank of Sharjah joint lead manager for $350m Ittihad sukuk
SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million...
Business
Some farmers in drought-hit Iraq forced to reduce crops: NGO
Baghdad, Iraq -- Sixty percent of farmers surveyed in four provinces of drought-hit Iraq reported having to reduce cultivated areas or...
Geostrategy
Most Read
Economy
Brazil, UAE forge ahead with stronger bilateral ties
“We would like the UAE to be a partner in our current process of investing in infrastructure. It is a...
- Brazil's Ambassador to UAE, Sidney Leon Romeiro, praises UAE's commitment to environmental sustainability and renewable energy.
- Brazil and UAE collaborate in global climate change discussions, aiming to meet Paris Agreement goals, the Brazil envoy highlights.
Economy
Gulf Air hit by data breach
It said client database may have been compromised.
- The airline said its operations and critical systems "were fully intact" and that there were no disruptions to its flight schedule
- It said the details of the breach were shared with the authorities and it was working with them to investigate "the matter thoroughly"
Economy
Jordan’s jewelry, pharmaceutical exports rise in January-September 2023
AMMAN, JORDAN – The Kingdom’s exports of jewelry increased by 71.5 percent during the January-September period of 2023 and pharmaceutical...
- The value of Jordan’s exports of jewelry until the end of September amounted to about US$858 million.
- The value of the Kingdom’s exports of pharmaceutical products until the end pf September was about US$531 million