Oil prices tumble after Israeli attacks spare Iran facilities
Tokyo, Japan - Oil prices tumbled in early Asian trading Monday with dealers relieved that Israeli strikes carried out Saturday against...
Economy
‘Starvation tactics’ being used against 25 million people in Sudan
UN experts on Thursday accused the two sides in Sudan's civil war of using "starvation tactics" against 25 million civilians,...
Business
Lisbon Web Summit begins Tuesday, crypto specialists take prime spots
The conference attempts to bring together start-ups, investors, business leaders and agenda-broadening speakers –- linguist Noam Chomsky and heavyweight boxing...
- More than 100,000 people are expected to gather in Lisbon for the four-day Web Summit, the first full-scale edition since 2019 following the disruption of the pandemic.
- Conference organizer Paddy Cosgrave said there were "a lot of questions to be answered" about crypto, describing it as "largely smoke and mirrors".
Business
Ma’aden, Barrick Gold alliance get license to explore mining site in Saudi Arabia
Saudi Arabia's Ministry of Industry and Mineral Resources announced that Saudi Arabian Mining Company Ma'aden and Barrick Gold Ltd alliance...
- The site attracted the interest of more than 20 local and international mining companies for an exploration license.
- Ma'aden and Baric alliance have committed on spending over US$12 million to accelerate exploration at the Umm Al-Damar site.
Economy
Indonesia needs 17 million technologically literate workers: Minister
Jakarta, Indonesia--- Indonesia would need 17 million technologically literate workers, or workers who are able to use and manage technology,...
- State-Owned Enterprises (SOEs) Minister Erick Thohir said Indonesia's digital economy will grow to Rp4,500 trillion by 2030.
- The SOEs are committed to supporting the development of the digital ecosystem, he said.
Economy
Middle East stares at mass displacement due to climate change
The World Bank estimates that by 2050, if nothing is done to prevent it, there will be 216 million people...
- Agriculture in Egypt has grown even less profitable because of new climate-linked hazards such as "the appearance of new parasites"
- In 2021, natural disasters forced "nearly three million people" to leave their homes in Africa and the Middle East
Geostrategy
GCC condemns German minister’s remarks on Doha World Cup
The secretary general of the Gulf Cooperation Council condemned remarks by Germany's interior minister on the World Cup due to...
- GCC chief Nayef al-Hajraf expressed support for Qatar in a statement published on the council's website.
- The six-member Gulf bloc backs Doha in addressing any interference in its internal affairs, the GCC chief said.
Geostrategy
Russia suspends participation in Ukraine grain deal
Russia suspended its participation in a pact that allowed grain exports from Ukraine, blaming alleged drone attacks on Russian ships...
- The Turkey and UN-brokered deal to unlock grain exports signed between Russia and Ukraine in July is critical to easing the global food crisis caused by the conflict.
- Russia had recently criticized the deal, saying its own grain exports have suffered due to Western sanctions.
Market Report
Gulf indices ease as China COVID curbs hit oil prices
Stock markets across the GCC remained less enthusiastic as oil, which fuels the region's growth, declined amidst fresh coronavirus scare.
- Gulf stock exchanges declined during the last two trading days.
- The Dubai Financial Market fell 49 points for this week as a whole, or 1.4 percent, compared to last week,
Geostrategy
‘EU froze Russian assets worth US$17bn since Ukraine war began’
The European Union has frozen Russian assets worth around $16.9 billion since Moscow invaded Ukraine, EU Justice Commissioner Didier Reynders...
- The figure has risen from the roughly US$13.7 billion from oligarchs and other entities that the EU had frozen and announced in July.
- So far, the assets of 90 people worth more than $16.9 billion in seven members, including $2.1 billion in Germany, have been frozen.
Geostrategy
Jordan to host renewable energy investment forum
AMMAN, JORDAN - Amman is scheduled to host the Seventh International Investment Forum for Renewable Energy and Energy Efficiency in...
- The forum will discuss over three days many important and vital issues on various fields of renewable energy, energy efficiency, green hydrogen.
- The forum's themes will also cover innovative agricultural patterns, energy management, carbon trading.
Geostrategy
Jordan cabinet reshuffle aims at modernization plans
Jordan's cabinet reshuffle is a mandate for the government to work within the Kingdom's three modernization tracks, launched at the...
- The plans include political, economic and public sector modernization.
- The new tasks for the government are streamlining performance, improving public service, attracting investment and economic development.
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Oil prices tumble after Israeli attacks spare Iran facilities
Tokyo, Japan - Oil prices tumbled in early Asian trading Monday with dealers relieved that Israeli strikes carried out Saturday against...
Economy
Company News
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stc Group begins work in Europe
Business
High interest rates are here to stay for a longer duration: IMF chief
Riyadh, Saudi Arabia - The world should be prepared that the interest rates are here to stay for a longer...
Economy
Stocks surge on China spending plan as oil prices retreat
Traders tracked a rally on Wall Street that was helped by a strong set of earnings from big-name firms including...
Business
Diversification remains crucial for oil-rich nations
Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in...
Interview
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Economy
China’s GDP rises above forecasts, boosted by robust recovery efforts
BEIJING, CHINA - China's Gross Domestic Product (GDP) grew by 4.9 percent year-on-year in the third quarter, surpassing economists' predictions...
- Analysts believe China is on track to meet its annual growth target of approximately 5 percent this year.
- Data from China’s National Bureau of Statistics revealed a 5.2 percent growth for the first three quarters.
Economy
Israel-Hamas war risks ‘serious’ economic damage: World Bank president
Ajay Banga was speaking at the annual Future Investment Initiative, often referred to as "Davos in the Desert". More than...
- While commenting on Israeli-Gaza war at FII summit, the World Bank president said, "we're at a very dangerous juncture"
- More than 5,000 Palestinians, mainly civilians, have been killed across the Gaza Strip in retaliatory Israeli bombardments
Economy
World ‘failing’ on pledge to stop deforestation by 2030: NGOs
Deforestation last year was over 20 percent higher than it should have been to meet the leaders' pledge, with 6.6...
- In 2021, leaders from over 100 countries and territories -- representing the vast majority of the world's forests -- pledged to stop and reverse forest loss by 2030
- An annual assessment released Tuesday found global deforestation actually increased by four percent last year, and the world remains well off track to meet the 2030 commitment