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
Latifa bint Mohammed awards UK’s Simon Squibb with ‘One Billion Award’ at 1 Billion Followers Summit
Dubai, UAE - Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, presented the...
Business
Economy
TBI denies loan for ‘fake projects’, says recovered 1 trillion, 500 billion dinars
Responding to a story published on one of the satellite channels, the bank explained the amount of the total loans...
- Responding to a story published on one of the satellite channels, the bank explained the amount of the total loans in the bank is inaccurate
- The bank stressed there are no loans for fictitious projects, saying the report in the media which doesn't identify its sources directly affects it
Economy
China scraps Covid tracking app as virus rules ease
More than two years after it was launched, China will retire "Communications Itinerary Card", which tracks people who have been...
- It comes just days after China announced an end to large-scale lockdowns, mandatory quarantine in central facilities, and a broad relaxation of testing measures
- The app is only one of a panoply of tracking apps that have governed everyday life in China throughout the pandemic
Geostrategy
Yemen war has killed or maimed over 11,000 children: UN
Hundreds of thousands have died since, either as a result of fighting or indirectly through unsafe drinking water, disease outbreaks,...
- About 2.2 million Yemeni children are acutely malnourished, one quarter of them aged under five, and most are at extreme risk from cholera, measles and other diseases
- Yemen's war broke out in 2014 and quickly saw Iran-backed Houthi rebels seize the capital Sanaa, prompting Saudi-led forces to intervene to prop up the government
Business
Algeria’s Sonatrach starts production in new gas field
The company announced the completion of production of the Tinrhert gas field at the end of November 2022.
- The company announced the completion of production of the Tinrhert gas field at the end of November 2022
- Algeria has signed many energy agreements with European countries during the current year
Economy
GCC vows to unify stance of global environment issues
The Gulf countries have highlighted the importance of coordinating and unifying the stances of the regional bloc in all international...
- The Gulf countries have highlighted the importance of coordinating and unifying the stances of the regional bloc in all international environmental forums
- The meeeting of GCC ministers responsible for environmental affairs in their respective countries was chaired by Oman's Dr. Abdullah bin Ali Al-Amri
Economy
UN says right environment policies can generate 20 million jobs
“It is critical that as we scale up the use of Nature-based Solutions (NbS) we make sure we do not...
- Nature-based solutions aim to protect, restore, and sustainably manage waters and marine ecosystems.
- New Green Jobs for Youth Pact, launched by ILO and UNEP at COP27, aims to create one million new green jobs.
Videos
Is GCC insurance industry ready for the change?
Industry experts stress the need for harnessing the momentum the industry has gained after the recovery from Covid setbacks.
- PwC Middle East advises insurers, as they look to 2025 post Covid recovery, to harness "the momentum they have gained" to meet new challenges.
- "Regardless of how insurers capitalize on these trends, they will need to reassess the future and reimagine their place in the world," says Sanjay Jain of PwC.
Economy
Saudi real GDP grows 8.8 percent in third quarter on rise in oil activities
Riyadh, Saudi Arabia---Saudi Arabia’s real gross domestic product grew by 8.8 percent in the third quarter of 2022 compared to...
- GASTAT noted that the real GDP growth in the third quarter was up 2.1 percent compared to the second quarter of this year.
- Government activities also rose by 2.5 percent in the third quarter compared to the same period a year ago.
Geostrategy
Russia oil embargo, price cap disrupts tankers
Russia has assembled a "shadow fleet" of more than 100 vessels seeking to circumnavigate the Western sanctions regime. These ships...
- Aimed at depriving Russia of key income, the western sanctions have also slowed transportation of its oil by sea
- President Vladimir Putin on Friday warned that Russia could reduce crude production in response to the price limit
Economy
US Fed poised for smaller rate hike with eye on wage growth
But the half-point jump analysts expect to see in the Fed's benchmark lending rate will still be a steep rise,...
- To make borrowing more expensive, the Fed has raised interest rates six times this year, including four bumper 0.75-point increases, bringing the rate to between 3.75% and 4%.
- Despite the Fed's forceful moves, consumer inflation stood at 7.7% in Oct while job gains remained robust, raising worries that the bank would prolong aggressive campaign.
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
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
Company News
Latest News
Strains emerge in 72-year-old Türkiye-Israel trade ties
Amid Ankara's criticism of Israel's actions against Gaza and Israel reassessing diplomatic relations, the future of their oil and steel...
Economy
48,616 firms register with Dubai Chamber of Commerce in January-September 2023
DUBAI, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has...
Business
UAE unveils ‘roadmap’ to reduce food waste by 50 percent
Dubai, UAE--In order to reduce food loss and waste by 50 percent, the UAE has launched Ne’ma Food Loss and...
Economy
Most Read
Business
UAE holds 19% of global sustainable bonds, says Fitch Ratings
DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues...
- Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region.
- Environmental, social and governance bonds in UAE constitute over 19 percent of the global ESG bond market.
Economy
Dubai Customs logs 13% growth in transactions in first nine months of 2023
DUBAI, UAE – Dubai Customs has experienced a robust 13 percent increase with 21.6 million transactions during the first nine...
- The upswing aligns with the targets of Dubai’s economic agenda D33, which seeks to double foreign trade.
- By the end of the third quarter of 2023, Dubai Customs had processed approximately 18.8 million customs declarations.
Business
Adoption of electric vehicles in US face infrastructure hurdles
NEW YORK, US - The US transition to electric cars has hit a speed bump, with concerns about vehicle range and...
- Automakers in recent weeks have pushed back EV sales targets and delayed capital projects as they seek to reduce inventories of unsold EVs at dealerships.
- The network of EV charging stations in the US remains dodgy, with many areas either lacking infrastructure or equipped with unreliable machines