Asian stocks mostly up after US tech rally
Asian stocks were mostly higher on Tuesday after a tech rally on Wall Street, but their gains remained modest in...
ECB to cut rates again amid bleak eurozone outlook
The European Central Bank is expected to cut interest rates again this week amid a darkening outlook, with political turbulence...
Economy
UAE secured 40% of Japan’s crude oil needs in October
94.7 percent of 84.58 million barrels imported by Japan originated from five Arab countries: UAE, Saudi Arabia, Kuwait, Qatar, Bahrain...
- 94.7 percent of 84.58 million barrels imported by Japan originated from five Arab countries: UAE, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman
- Oil remains the most significant energy source in Japan, accounting for about 40 percent of the country’s total energy supply, according to the IEA
Economy
UN agency wants FIFA deal for World Cup labour rights role
Doha, Qatar— After fierce criticism of the Qatar World Cup, the head of the UN labour agency on Sunday pressed FIFA's...
- FIFA has faced increased pressure after years of criticism of labour rights in Qatar, ranging from controversy over deaths on mega construction projects to unpaid salaries
- The 2026 World Cup will be held in the United States, Canada and Mexico
Economy
Moroccans protest price hikes and ‘repression’
Hit by the economic impact of the Covid-19 pandemic and inflation, poverty levels are back to where they were in...
- People converged from across Morocco for the protest, which was also called to highlight the cases of several jailed bloggers and journalists
- Consumer price inflation was 7.1 percent year-on-year in October, due in large part to surging food prices triggered partly by an intense drought
Geostrategy
EU head says bloc must act over US climate plan changes
EU chief Ursula von der Leyen said the bloc must act to address "distortions" created by Washington's $430-billion plan to...
- EU countries have poured criticism on Washington's landmark Inflation Reduction Act, seeing it as anti-competitive and a threat to European jobs
- The act, designed to accelerate the US transition to a low-carbon economy, contains around $370 billion in subsidies for green energy as well as tax cuts
Geostrategy
Jordan, India explore economic cooperation
AMMAN, JORDAN - Jordan's Minister of Investment Kholoud Saqqaf on Sunday received Indian ambassador in Amman Anwar Haleem for a...
- The minister briefed the envoy on the investment climate in the Kingdom and potential opportunities in various sectors.
- She emphasized business-friendly legislation and simplified government service delivery.
Geostrategy
Herzog becomes first Israeli president to visit Bahrain
Israeli President Isaac Herzog arrived in Bahrain, the first visit by an Israeli head of state to the small Gulf...
- Accompanied by an economic delegation, Herzog said he would discuss "ways to strengthen our economic cooperation".
- Herzog said he would then travel to UAE's capital Abu Dhabi.
Economy
OPEC likely to hold oil output levels steady
Vienna, Austria— Major oil-producing countries led by Saudi Arabia and Russia look set to maintain their current output levels at a...
- OPEC is due to consult with 10 other oil-producing nations, including Russia, to review their decision in October to cut production by two million barrels per day
- the EU, G7 and Australia agreed a $60-per-barrel price cap on Russian oil, which will come into effect on Monday or soon after
Economy
Morocco reaps windfall from fertiliser supply shock
Morocco is set to chalk up record revenues for a second year running as farmers worldwide scramble for phosphate, made...
- According to Morocco's state-owned phosphates firm OCP, the kingdom controls around 31 percent of the international trade in the substance
- This year Morocco exported half a billion tons of fertilizer to various African countries, either for free, as aid or at preferential prices
Economy
UNHCR chief urges world to help Lebanon’s most vulnerable
Appealing to the international community to help the country as it faces 'one of its hardest moments', UNHCR chief said...
- Hundreds of thousands of Syrians fled to Lebanon after the country's civil war began in 2011 with the brutal suppression of anti-regime protests
- UNHCR chief Filippo Grandi met with officials including caretaker PM Najib Mikati to discuss how to better support vulnerable Lebanese and refugees
Business
German government to stop unjustified energy price increases
BERLIN, GERMANY - The German government aims to put a stop to energy price hikes it sees as unjustified with...
- Price increases are to be prohibited until the end of 2023 - unless the supplier can prove "that the increase is objectively justified".
- A justification could, for example, result from "market-based price and cost developments".
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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
Asian stocks mostly up after US tech rally
Asian stocks were mostly higher on Tuesday after a tech rally on Wall Street, but their gains remained modest in...
Company News
Latest News
Insect farming ‘revolutionizes’ Gulf agriculture
Across the arid region, in which conventional agriculture is beset by many challenges, insect farming for livestock feed is perceived...
Economy
GCC keen to strengthen economic cooperation with Turkey: Albudaiwi
Istanbul, Turkey-- The Gulf Cooperation Council (GCC) is keen to enhance economic cooperation with Turkey, according to its Secretary General...
Economy
Emiratization: CBUAE to provide financial sector job opportunities
Abu Dhabi, UAE - The CBUAE will provide UAE nationals with job opportunities across various banking and insurance specializations in...
Economy
Most Read
Geostrategy
Turkey halts joint-energy projects with Israel over Gaza war
Dubai, UAE-- Turkey has suspended joint-energy projects with Israel over the latter's invasion and bombardment of the Gaza Strip, according...
- The Turkish energy minister said that it would be "inappropriate" to talk about the implementation of projects with Israel under such conditions
- Israel has blocked access to water, food, and electricity in Gaza, plunging the coastal area into a humanitarian crisis as the death toll crosses 11,000
Economy
Saudi Arabia set to be global reference in smart cities
"The use of generative artificial intelligence (AI) extends beyond urban design and development. It involves creating smart cities tailored to...
- The crucial role of generative AI in developing sustainable, resident-focused smart cities.
- Saudi Arabia's integration of IoT into urban living, enhancing communication and connectivity.
Economy
Saudi Arabia boosts ‘investment relations’ with African countries
Riyadh, Saudi Arabia-- Saudi Arabia's Ministry of Investment has held a number of roundtable meetings with several African countries on...
- Saudi Arabia signed a memorandum of understanding with Mauritania to encourage investment flows between the two countries
- The kingdom also took steps to enhance economic ties with Chad and Somalia, enabling the private sector to benefit from opportunities