‘Authenticity, experiences, culture, generational and solo travel to lead tourism trends’
Visit Saudi, experience the warmth, generosity and hospitality of the people, Jerry Inzerillo tells TRENDS in an exclusive interview.
Business
Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer...
World Economic Forum
Economy
Rising inflation, falling wages threaten increased poverty: ILO
Global monthly wages fell in real terms to -0.9 per cent in the first half of the year, the study...
- Global monthly wages fell in real terms to -0.9 per cent in the first half of the year, the study found
- The purchasing power of middle-class families has been reduced, while low-income households have been hit particularly hard
Economy
Eurozone’s unemployment drops to record low
The reading -- the lowest since Eurostat started compiling jobless figures in April 1998 -- was an indicator that the...
- Eurostat estimated that, for the entire 27-nation European Union, 12.95 million adults were unemployed in October
- Younger people had the highest unemployment rate in the EU and its eurozone, at 15.1 percent and 15.0 percent respectively
Geostrategy
Lebanon MPs again fail to elect President for 8th time
Lawmakers in crisis-hit Lebanon failed to elect a new president for an eighth time, despite the deepening impact of the...
- Parliament is split between supporters of the powerful Iran-backed Hezbollah movement and its opponents, neither of whom have a clear majority.
- Lawmaker Michel Moawad, who is seen as close to the United States, won the support of 37 lawmakers.
Geostrategy
US trade subsidies create unlevel playing field with Europe, says Macron
French President Emmanuel Macron repeated his frustration with US subsidies, saying they were hurting European companies by providing an unfair...
- Macron said that US industrial subsidies, which are part of Biden's huge green energy initiatives, are "super aggressive" towards European business.
- While Washington and Paris were "working closely together" on geopolitics and opposing Russia in its invasion of Ukraine, trade tensions remained, Macron said.
Market Report
World equities extend gains on Fed rate optimism
Global stocks rose as Federal Reserve boss Jerome Powell flagged a moderation in interest rate hikes, while China signaled a...
- Equities were also helped by signs that China is edging towards a more pragmatic approach to fighting the coronavirus.
- The dollar sank, having soared across the board this year as Fed monetary policy diverged more and more from other central banks.
Science
‘Carbon credits need more supply, integrity to meet global demand’
RIYADH, SAUDI ARABIA - Carbon credits could make a significant contribution to achieving net zero by 2050, but only if...
- Trade in voluntary carbon credits could grow 100-fold by 2050 if teething problems are addressed.
- A carbon credit allows a country or organization to produce a certain amount of carbon emissions and it can be traded if the full allowance is not used.
Science
Natural disaster losses hit US$115 bn this year, says Swiss Re
GENEVA, SWITZERLAND - Natural catastrophes have caused an estimated US$115 billion of insured losses in 2022 to date, driven by...
- Swiss Re added that so-called secondary natural disasters such as floods and hailstorms caused more than $50 billion of insured losses.
- Total insured losses topping $100 billion for a second consecutive year, said Swiss Re.
Science
Financing for nature must more than double by 2025, says UN report
The world must increase financing for nature-based solutions to meet key climate, biodiversity and land degradation goals, a United Nations...
- The UNEP report said that investments for nature-based solutions must increase to US$384 billion per year by 2025.
- By 2030 finance flows of $484 billion a year will be required for nature-based solutions.
Business
Singapore has highest number of crypto job openings
Luxembourg has the second highest rate at 55.59 crypto jobs per million people.
- Luxembourg has the second highest rate at 55.59 crypto jobs per million people
- North America offers the best average salary for crypto jobs, amounting to annual earnings of $120,000
Economy
World Bank says remittances to lower income countries ease in 2022
The World Bank estimates that cash transfers to low income countries eased this year as high prices ate up migrants'...
- The World Bank says while the reopening of economies as the pandemic receded helped with employment, rising costs "adversely affected migrants’ real incomes"
- Rising oil prices and continued demand for migrant workers boosted remittances to Central Asian countries
‘Authenticity, experiences, culture, generational and solo travel to lead tourism trends’
Visit Saudi, experience the warmth, generosity and hospitality of the people, Jerry Inzerillo tells TRENDS in an exclusive interview.
Business
Company News
Latest News
GCC sovereigns eye fiscal rejuvenation
A report by S&P Global Ratings forecasts improved fiscal positions due to higher oil prices, fiscal consolidation and a robust...
Economy
Gaza faces shortage of flour due to Israel-Hamas war
KHAN YUNIS, PALESTINIAN TERRITORIES - One of the last grain warehouses in the Gaza Strip has been damaged by Israeli strikes...
Geostrategy
GCC maintains stable inflation rates despite crises
Pausing of rate hikes by global central banks amid fluctuating inflation rates influences global markets, with specific impacts in the...
Economy
Most Read
Business
Dubai Investment posts profit
Its income for the first nine months of 2023 is US$816m.
- The company reported a net profit of $222.46 million for the nine-month period ended September 30, 2023
- The diversified investment company listed on the DFM said its total assets reached $5.71bn at the end of Q3 2023
Economy
Bahrain and Russia look to boost economic cooperation
Manama, Bahrain-- Bahrain and Russia have held discussions to enhance cooperation in various fields of the two countries' economies. In...
- The Bahraini oil minister spoke highly of the Bahraini-Russian relations and their steady progress across various domains, including in the energy sector
- The Russian official expressed his country’s keenness to further bolster its cooperation with the kingdom in various fields, wishing Bahrain further prosperity
Economy
Iran and Russia diplomats hold discussions on BRICS
Tehran, Iran--Senior Iranian and Russian diplomats held talks in Tehran to discuss the BRICS group and its fields of activities...
- The Iranian sides reiterated the Islamic republic's commitment to playing an "effective and constructive role in it" and resolved to participate in all activities in the grouping
- The Russian delegation enumerated the country's priorities in regard to BRICS during their presidency and presented a briefing on the history and background of the group's actions