Tech helps Singapore economy top forecasts in third quarter
Singapore's economy grew more than expected in the third quarter as a rush for everything related to artificial intelligence drove...
Economy
Asia-Pacific markets mixed after Powell signals smaller rate cuts
Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the...
Economy
Economy
Fed up of perennial power cuts, Gaza turns to solar
For most of Gaza's 2.3 million residents, living under a 15-year-old Israeli blockade, power cuts are a daily fact of...
- Gaza bakery owner Bishara Shehadeh began the switch to solar this summer, by placing hundreds of gleaming panels on his rooftop
- Green energy advocates say that solar energy is a vision for a global future as the world faces the perils of climate change and rising energy costs
Business
Crude prices surge as top producers plan to slash output
The jump comes after both main contracts suffered hefty losses in recent months on demand fears caused by an expected...
- WTI climbed 3.3 percent to $82.12 and Brent also piled on 3.3 percent to $87.94 ahead of a meeting of the group this week in Vienna
- The reduction in production -- which delegates to OPEC said had not been finalized -- would be the biggest since the pandemic began when crude prices collapsed
Economy
Saudi Arabia holds GCC meeting to boost economic ties
Saudi Arabia hosted a meeting of the GCC Financial and Economic Cooperation Committee to broaden economic cooperation among the GCC...
- The meeting was held under the chairmanship of Minister of Finance Mohammed bin Abdullah Al-Jadaan
- It reviewed a host of issues related to enhancing financial and economic cooperation among the GCC countries besides discussing the impact of the world economic crisis
Economy
IMF likely to open regional office in Saudi Arabia
IMF expects the Kingdom to become one of the world's fastest-growing economies, recording a growth of 7.6% this year
- IMF expects the Kingdom to become one of the world's fastest-growing economies, recording a growth of 7.6% this year
- Credit rating agency S&P has already affirmed Saudi Arabia’s rating at “A-/A-2” with a positive outlook citing higher oil revenues
Economy
Low carbon demand spurs green sukuk growth
With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent...
- With the rise in demand for low-carbon investments, investors issued $517 billion in green bonds last year, a 50 percent increase over 2020.
- Sukuks cannot be used to finance illegal activities and are designed to avoid high levels of leverage and speculation, a new research highlights
Economy
Saudi banks provide $630 billion loans till August 2022
Riyadh, Saudi Arabia - Saudi bank loans granted to public and private sectors grew 15 percent by the end of...
- Private-sector lending also increased by 15 percent year-on-year to SAR 2.241 trillion ($600 billion).
- Loans granted to public non-financial institutions increased 26 percent YoY to SAR 117.1 billion ($31.14 billion).
Arts & Culture
Cultural policy vital for diversified economy, says UAE Minister
UAE Ministry of Culture and Youth participated in the UNESCO World Conference on Cultural Policies and Sustainable Development – MONDIACULT...
- UAE Minister of Culture and Youth Noura bint Mohammed Al Kaabi participated in a UNESCO world conference in Mexico via video conference.
- A delegation headed by Salem Al Qasimi, Permanent Delegate of the UAE to UNESCO, was present on the occasion.
Videos
Saudi growth in 2022 to outpace Asian giants
The kingdom recovered quickly from Covid-induced recession and is reaping the rewards of high global energy prices and increased energy...
- The kingdom is set to be the fastest growing of the world’s largest economies in 2022, outpacing the Asian giants of China, India, Indonesia, South Korea and Taiwan.
- It is expected to grow much faster than the struggling major economies in Western Europe and North America.
Business
Sharjah Chamber organizes forum, briefs Russian delegation
The Sharjah Chamber of Commerce and Industry (SCCI) has organized a forum to discuss ways to boost economic ties and...
- The forum witnessed bilateral meetings between business owners from Sharjah and Russia.
- The chamber briefed the Russian trade mission on Sharjah’s business advantages and facilities.
Business
Qatar goes into top gear to ready luxury hotels, flats
As the countdown to the start of the World Cug gets underway, Qatar has accelerated efforts to ready luxury hotels...
- The wealthiest will pay thousands of dollars a night for rooms with marble wine cellars and a lobby with one of the world's biggest chandeliers
- Some Qatari landlords are trying to cash in on the World Cup, demanding $4,000-plus a night for Doha apartments
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Tech helps Singapore economy top forecasts in third quarter
Singapore's economy grew more than expected in the third quarter as a rush for everything related to artificial intelligence drove...
Economy
Company News
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Kuwait Fund and Central American Bank sign MoU
Marrakesh, Morocco-- Kuwait Fund for Arab Economic Development (KFAED) and the Central American Bank for Economic Integration (CABEI) have signed...
Business
UAE economy robust, bolstered by tourism and real estate: OPEC
Vienna, Austria--The UAE’s economy remains robust, with constant contributions from the non-oil sector, especially from tourism, leisure, and real estate,...
Economy
Gold prices soar over 3% amid escalating Middle East conflict
Dubai, UAE - Gold prices surged over 3% on Friday, heading for their most robust weekly performance in seven months,...
Economy
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Economy
Dubai’s sustainable vision beyond skyline
Dubai is prioritizing renewable energy, sustainable design, water conservation, and biodiversity protection. Its commitment to a sustainable future showcases its...
- Dubai, renowned for its iconic skyline and luxury, is now leading the charge against climate change with investments and initiatives such as Dubai Clean Energy Strategy 2050
- The emirate prioritizes public transit, electric vehicles, and waste-to-energy solutions, placing global collaboration and partnerships at the heart of its climate strategy
Business
Smart and Autonomous Vehicles Industries cluster launches at Masdar City
Abu Dhabi, UAE - A Smart and Autonomous Vehicles Industries (SAVI) cluster was launched at Masdar City on Friday. It...
- SAVI will support innovation and the commercialization of smart and autonomous vehicle technologies in the UAE
- The Abu Dhabi Department of Economic Development (ADDED) and Abu Dhabi Investment Office (ADIO) are spearheading the development of SAVI
Iran says US ‘can not renege’ on deal to transfer $6bn via Qatar
Tehran, Iran-- Iran said the United States "can not renege" on an agreement to transfer $6 billion in frozen funds through...
- Tehran has come under intense scrutiny since Hamas stormed across Israel's border.
- Iran has insisted it was not involved, but celebrated the Hamas attack as a "success".