Advanced nuclear technologies and their role in the energy transition
New policies, public trust, and partnerships are crucial to accelerating these nuclear solutions. Platforms like the Forum’s Advanced Energy Solutions...
UAE stablecoin usage up 55% yoy as new regulations drive market momentum
Stablecoins account for the largest share of crypto activity in the UAE (51%), which stands significantly higher than both Bitcoin...
Economy
Business
ADCB Q3 net profit at US$432m
The diversification of revenue streams boosted the bank's profitability.
- The bank reported a non-interest income of US$259 million (AED 952 million).
- ADCB said its operating income surged by 21 percent to reach US$955 million (AED 3.510 billion).
Infographics
UAE, Saudi pension systems improve performance on 2022 Mercer CFA Index
The 2022 Mercer CFA Institute Global Pension Index compares 44 retirement income systems against more than 50 indicators and benchmarks.
- The CFA Institute said the index highlights both the considerable diversity and the positive features present in many systems.
- The study also confirms that no pension system is perfect and that every system has shortcomings.
Economy
60% houses in Iraq lose access to drinking water, says survey
BAGHDAD, IRAQ - In drought-hit Iraq, six out of 10 households have had their access to drinking water disrupted and...
- The Norwegian Refugee Council (NRC), an aid group active in the oil-rich but war-scarred country, surveyed 1,341 households in August.
- NRC study found that the crisis has had an immediate impact on access to drinking and irrigation water and on the production of crops.
Economy
Oman’s CPI inflation rate rises 2.4 percent in September
MUSCAT, OMAN - The inflation rate of Consumer Price Index in Oman reached 2.4 percent during September 2022. A monthly...
- The report noted prices of education group increased by 5.1 percent.
- The prices of health group and food group surged by 3.5 percent and 5 percent respectively.
Geostrategy
Lebanese lawmakers fail to pick President for fourth time
Already governed by a caretaker cabinet, crisis-hit Lebanon is hurtling towards an imminent power vacuum, with just days before the...
- A total of 50 lawmakers in Lebanon's 128-seat parliament left their votes blank, many from the Iran-backed Hezbollah.
- Parliament speaker Nabih Berri called for another vote on Thursday in the hope of overcoming long-running arguments.
Market Report
Most markets up but China fear casts shadow
Most markets rose on hopes the Federal Reserve would soon slow its pace of interest rate hikes, though the mood...
- Tokyo, Sydney, Seoul and Taipei led gains after a strong performance in New York.
- The rise was sparked by a report the Fed could begin to take its foot off the pedal in its rate hike campaign.
Business
Credit Suisse to pay $234m fine
Bank to pay fine on money laundering, tax fraud charges.
- Credit Suisse said it had reached the settlement to resolve a legacy matter in relation to investigation into historical cross-border private-banking services.
- The bank added that the settlement does not comprise a recognition of criminal liability.
Economy
Moroccans protest against cost of living crisis
The protest was organized by the country's main trade union, the UNTM, which is close to the Justice and Development...
- The rally, outside parliament and witnessed by AFP journalists, came after several protests already this week in Rabat and other Moroccan cities
- Consumer price inflation was 8.3 percent year-on-year in September, due in large part to surging food prices, which were up 14.7 percent
Economy
Eurozone downturn deepens as Germany heads for recession
Economic activity in the eurozone plummeted further in October and Germany, the EU's top economy, looks headed for a recession,...
- The S&P Global Flash Eurozone purchasing managers' index (PMI) fell to 47.1 for October, down from 48.1 a month earlier, as soaring inflation and high energy prices buffeted Europe
- The survey showed that both manufacturing and services in Germany were showing accelerated rates of shrinkage, though that had yet to feed through into jobs-shedding
Economy
Qatar market braces for football World Cup boom
Crowds are already growing as a World Cup buzz mounts. Fan zone attractions and temporary stores are being set up...
- The narrow alleys of the century-old Souq Waqif will be a magnet for the one million football followers expected at the tournament
- Devastated by a major fire in 2003, most of it has been rebuilt with arched pedestrian alleys, as part of a project to regenerate central Doha
Most Read
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
Advanced nuclear technologies and their role in the energy transition
New policies, public trust, and partnerships are crucial to accelerating these nuclear solutions. Platforms like the Forum’s Advanced Energy Solutions...
Company News
Latest News
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
China announces $137 bn sovereign bond issuance
Beijing, China - China announced on Tuesday a 1 trillion yuan ($137 billion) sovereign bond issuance, state media said, in a...
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...
Economy
Most Read
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
Interview
Tech ticks: Metaverse, AI boost Jamaica’s tourism
From the metaverse allowing virtual experiences to the use of AI in training, Jamaica is at the forefront of integrating...
- From the metaverse allowing virtual experiences to the use of AI in training, Jamaica is at the forefront of integrating technology into its tourism sector, says minister.
- Jamaica is enhancing its tourism workforce with the Jamaica Centre for Tourism Innovation, amid a rise in South-South tech-tourism collaborations, adds Edmund Bartlett.
Economy
Sustainable finance part of UAE’s climate action plan
"The UAE's financial markets are proactively broadening sustainable finance options. The Dubai Financial Market has rolled out regulatory frameworks for...
- The UAE remains dedicated to addressing climate change and creating a sustainable future with its ambitious goal of achieving net-zero carbon emissions by 2050
- The local market sees the launch of green bonds, amplifying sustainable finance in the region and reflecting the UAE's commitment to developing new asset classes