Non-oil sectors drive robust growth in GCC countries, says World Bank report
While developing countries paid a record US$1.4 trillion to service debts, the non-oil sectors in the GCC countries are fueling...
Economy
Trump’s tariff threats stoke global fears, prompting retaliation warnings from allies and rivals
US President-elect Donald Trump's sweeping tariff plans target Canada, Mexico, and China, raising fears of a global trade war, with...
Economy
S&P raises Qatar’s credit rating citing its declining debt load
The rating agency predicts that increased oil prices would lead to significant fiscal surpluses in 2022–2023.
- The rating agency predicts that increased oil prices would lead to significant fiscal surpluses in 2022–2023
- One of the biggest natural gas exporters in the world, Qatar has reaped significant rewards from the sharp rise in oil and gas prices
Economy
China’s current account surplus up 56% in Jan-Sep 2022
The surplus under trade in goods increased 37 percent year-on-year to hit a record US$521.6 billion.
- The surplus under trade in goods increased 37 percent year-on-year to hit a record US$521.6 billion
- Direct investment logged a net inflow of US$46.9 billion, according to the administration
Economy
Temporary employment contracts between countries need enhancements to boost efficiency, production
Sixteen member countries of the Abu Dhabi Dialogue that send and receive laborers discuss problems and welfare of the workers...
- Sixteen member countries of the Abu Dhabi Dialogue that send and receive laborers discuss problems and welfare of the workers during high-level meetings
- Several topics, including enabling member states to manage labor markets and enhance the welfare of laborers through modern technologies, come under review
Geostrategy
UAE’s FNC members discuss cooperation with German Parliament
Members of the UAE-EU Parliamentary Friendship Group of the Federal National Council (FNC), headed by Sarah Mohammed Falkinaz, Chairperson of...
- The two sides affirmed the importance of strengthening their parliamentary cooperation.
- They also discussed relations between the UAE and Germany and of enhancing them in science, health, higher education.
Science
COP27 must shift from talk to action says UN climate chief
The upcoming COP27 climate summit in Egypt must mark a leap from the process of hammering out a treaty to...
- Diplomats from nearly 200 countries are gathering in the Red Sea resort for the November 6-18 conference.
- The US and the European Union - fearful of creating an open-ended reparations framework - have dragged their feet.
Geostrategy
World food prices hold steady in October, says FAO
World food prices held steady in October, though cereal prices rose over uncertainty of a deal giving safe passage for...
- FAO said its price index averaged 135.9 points in October, marginally lower from September.
- Wheat prices were up 3.2 percent, mostly reflecting continued uncertainties related to the Black Sea Grain Initiative, the UN body said.
Geostrategy
Saudi-Finnish business forum discusses enhancing trade ties
HELSINKI, FINLAND - Heading a high-level delegation to Finland, Saudi Arabia's Minister of Commerce and Chairman of the Board of...
- The Saudi delegation was in Finland to participate in a forum organized by Business Finland in cooperation with the Federation of Saudi Chambers.
- The forum was attended by around 120 officials from the public and private sectors in the two countries.
Economy
Saudi real GDP grows by 8.6 percent in Q3: Ministry of Economy
An economic report issued by the MEP---the ministry will publish such reports quarterly on domestic and global economic updates---real non-oil...
- Manufacturing, wholesale, retail trade, restaurants and hotels, construction and transport were among the key contributors to the kingdom’s non-oil GDP growth in Q3.
- The ministry said that “despite persistent supply-chain bottlenecks clogging up global trade”, the kingdom’s trade balance climbed by 87 percent to SAR 72 billion ($19.15 billion)
Geostrategy
Jordan’s King meets Russian minister, urges stability in southern Syria
AMMAN, JORDAN - Jordan's King Abdullah received Russian Foreign Minister Sergey Lavrov in Amman on Thursday and stressed the importance...
- King Abdullah stressed on the need to activate efforts to reach a political solution to the crisis in Syria.
- The King emphasized on safeguarding Syria's unity and territorial integrity.
Business
Telefonica Q3 profit at $450m
Q3 revenue was up 11.6 percent at US$10.11 billion.
- The company said the results make it possible to confirm its financial targets for 2022, which it raised during the previous quarter.
- Telefonica said that it expects its core earnings growth to be "mid-to-high-end of the low single digit".
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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
Non-oil sectors drive robust growth in GCC countries, says World Bank report
While developing countries paid a record US$1.4 trillion to service debts, the non-oil sectors in the GCC countries are fueling...
Economy
Company News
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NMDC, AD Ports Group ink MoU
The firms will continue to work closely on future global projects.
Business
Bilateral trade in 2023 to overtake 2022 figures, says Canada’s envoy to UAE
ABU DHABI, UAE - Trade between the two countries is on an upswing with volumes this year expected to surpass...
Geostrategy
Foreign investments rise in NE China due to several projects
SHENYANG, CHINA – Investments in the country’s northeast have grown over the past years as several multinational corporations put in...
Business
Most Read
Interview
‘Digitization, AI reshape sports and health investments’
AI will play a major role in improving sports performance and health sector advancements, Thomas H. Rudy of leAD Sports...
- AI will play a major role in improving sports performance and health sector advancements, Thomas H. Rudy of leAD Sports & Health Tech Partners tells TRENDS.
- Rudy envisions Saudi Arabia as a major player in health and sports investments, citing examples from golf and football and predicts substantial growth in team values.
Economy
Saudi Arabia to produce 80-90% insulin domestically
"More than 200 essential medications have been identified, making up about 40 percent of the total purchases by government health...
- Saudi Arabia is making strides in its pharmaceutical sector, with aims to produce 80 to 90 percent of its insulin domestically
- At the Global Health Forum, key agreements were inked, spotlighting the Kingdom's commitment to medical biotechnology
Geostrategy
Saudi civil aviation authority announces economic policy of sector
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) has announced the economic policy of the civil aviation...
- The economic policy aims to increase the operational performance of the Kingdom's airports and improve the performance of national carriers.
- This is to help change the Kingdom into a global destination for transport and shipping services by providing infrastructure attractive to foreign investment.