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...
Xi, Biden in Peru for APEC summit, pre-Trump face-to-face
uncertainty over Trump's next moves now clouds the APEC agenda -- as it does for the COP29 climate talks underway...
Economy
China’s factory activity contracts on Covid curbs
The Purchasing Managers' Index (PMI) -- a key gauge of manufacturing in the world's second-biggest economy -- came in at...
- While activity at larger businesses expanded in October, work at small and medium-sized enterprises contracted significantly
- The economic slowdown has also been exacerbated by a crisis in the massive property sector, where a series of debt-laden developers have defaulted on loans
Economy
UAE refunds tax incurred on building, operating mosques
The FTA will begin accepting applications for refunding input tax incurred on building mosques from Nov 1.
- The FTA will begin accepting applications for refunding input tax incurred on building mosques from Nov 1
- Refund of input tax includes expenses related to the actual construction process of the mosque
Economy
Egypt to grant ‘golden license’ in order to boost investment
The license will allow investors to buy or rent lands, operate and manage the projects and allocate the necessary facilities...
- Egyptian President Abdel Fattah Al-Sisi has issued a directive during the inauguration of the first International Forum and Exhibition for Industry
- The decision came following Egypt’s agreement with the International Monetary Fund, allowing the country to obtain an extended credit facility of $3 billion
Business
Sheikh Khaled bin Mohamed bin Zayed meets CEOs of INPEX, BP
Energy security, enhancing partnerships were discussed.
- The meeting discussed ways of harnessing opportunities in renewables and hydrogen.
- The meetings deliberated on ways of expanding existing relationships to enable a more sustainable future.
Geostrategy
Ukraine blames Russian blockade for making grain export ‘impossible’
Russia's blockade of grain exports makes it "impossible" for fully loaded ships to leave port, Ukraine charged after Moscow claimed...
- UN Secretary-General Antonio Guterres on Sunday expressed "deep concern about the ongoing situation regarding the Black Sea Grain Initiative.
- The July deal to unlock grain exports signed between Russia and Ukraine and brokered by Turkey and the UN, is vital for easing the global food crisis.
Business
ConocoPhillips buys 6.25% in Qatar’s North Field South project
Project is part of the world's biggest natural gas reserves.
- Energy Minister Saad Sherida al-Kaabi said Qatar was talking with Asian nations over a share in its campaign to increase annual production by 60 percent.
- France's TotalEnergies and Britain's Shell both have 9.37 percent stakes in the field, while state-owned Qatar Energy has the remaining 75 percent.
Business
DEWA commissions 389 11kV substations in Q3 of 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has commissioned 389 11kV substations in Dubai in the third quarter...
- DEWA now has 77 substations of 33kV in service, and 42,529 medium voltage (11Kv or 6.6Kv) substations.
- These stations are mainly located at Wadi Al Safa Fifth, Al Merkad, Madinat Al Matar and Al Yalayis 1.
Geostrategy
Investment to tackle climate change falls in 2022, says UNCTAD
Cross-border investment in climate change mitigation and adaptation is projected to decline in 2022 against the backdrop of a global...
- Mitigation projects accounted for 94 percent of international climate investments, whereas adaptation ones continued to lag far behind.
- Developed economies made up two thirds of international project finance deals and greenfield investments in renewables.
Geostrategy
Lebanon’s Aoun vacates presidential palace as power vacuum looms
Michel Aoun was vacating Lebanon's presidential palace, amid acclaim from his supporters, a day before his mandate expires without a...
- Lebanese lawmakers have tried but failed four times in a month to agree on electing a successor after Aoun's six-year term ends.
- Lebanon is being run by a caretaker government as political divisions have prevented the formation of a new cabinet.
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".
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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
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...
Company News
Latest News
Federal Reserve likely to pause interest rate hikes
The Federal Reserve will likely announce it is holding interest rates at a 22-year high on Wednesday, as it looks...
Economy
Buildings should absorb more carbon than they release
"Buildings should produce more clean energy than they consume. This transformation demands a reevaluation of our relationship with nature. Rather...
Economy
Most Read
Economy
Tech development must be ethical, inclusive: Scientist
Interdisciplinary discussions can help in guiding ethical tech development for the greater good, Karen Hallberg of Argentina's Bariloche Atomic Centre...
- Interdisciplinary discussions can help in guiding ethical tech development for the greater good, Karen Hallberg of Argentina's Bariloche Atomic Centre tells TRENDS.
- Hallberg highlights the technological divide between the Global North and South, emphasizing the urgency for regulations and diverse voices in tech dialogues.
Geostrategy
Middle East conflict may disrupt global trade routes
Recent developments spark concerns that the conflict, which is spreading across the region, presents a long-term threat to global energy...
- Recent developments spark concerns that the conflict, which is spreading across the region, presents a long-term threat to global energy and commercial infrastructure.
- IMF's Kristalina Georgieva and World Bank's Ajay Banga stress economic vulnerabilities and development impacts amid volatile oil prices potentially surpassing $100 per barrel.
Geostrategy
Iran, Russia to invest $38bn in developing INSTC
TEHRAN, IRAN – The Iranian head of Solyanka Port in Russia said that the International North-South Transport Corridor (INSTC) is a...
- The Iranian head of Solyanka Port spoke of the measures taken by the Islamic Republic of Iran Shipping Line (IRISL ) to develop the INSTC route.
- The IRISL group purchased 30 rail wagons, 5,400 containers and ordered the construction of 21 equipped vessels for strengthening maritime routes.