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
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
Geostrategy
World Bank declares $530mn aid for Ukraine’s ‘urgent needs’
"The toll of destruction, damage, and dislocation in Ukraine is staggering and continues to grow," Anna Bjerde, the bank's regional...
- The new funding came on the same day Russian President Putin formally announced the annexation of four Moscow-held areas of Ukraine.
- The bank said it had already mobilized almost $13 billion in emergency funding for Ukraine, $11 billion of which had already been disbursed.
Geostrategy
‘Nord Stream 2 pipeline has stopped leaking gas’
The Nord Stream 2 pipeline is no longer leaking under the Baltic Sea because an equilibrium has been reached between...
- While the pipelines are not currently in operation, they both still contained gas before they fell victim to apparent sabotage, producing four leaks.
- All the leaks are in the Baltic Sea off the Danish island of Bornholm.
Economy
Dubai Metaverse Assembly takes delegates to Mars
Participants were taken on an immersive space journey to a detailed metaverse city on the Red Planet.
- Participants were taken on an immersive space journey to a detailed metaverse city on the Red Planet
- Senior executives from major corporations also discussed topics such as the relationship between the metaverse and gaming, retail, banking, and venture capital
Economy
Jordan government reduces fuel prices for October
The price of 90-octane gasoline and 95-octane gasoline will decrease by 60 fils in October.
- The price of 90-octane gasoline and 95-octane gasoline will decrease by 60 fils in October
- The price of one litre of diesel and kerosene will sell at JD0.825 in October, instead of JD0.790
Economy
Saudi Arabia hopes to post budget surplus of US$24bn
Saudi Arabia is expecting to record an increase in its budget surplus in 2022 to S24 billion, according to the...
- According to the ministry of finance, Saudi total revenues are expected to reach about $299 billion in 2023, while reaching about $323 billion in 2025
- The minister said the objectives of the general budget for the fiscal year 2023 come as a continuation of the process of work to strengthen the financial position of the kingdom
Economy
UAE eyes jobs via crypto, metaverse investments
According to a PWC estimate, the MENA region's blockchain market would reach $3.2 billion by 2024, and the UAE is...
- Blockchain market is expected to reach $3.2 billion in the MENA region by 2024, according to a PWC estimate
- UAE has attracted many crypto trading platforms, tempting investors with its regulatory system and promises of security improvements
Science
Abu Dhabi launches healthcare grant to help research, innovation
The Department of Health – Abu Dhabi (DoH) launched the first edition of the Healthcare Research and Innovation Grant, a...
- The grant seeks to fuel healthy competition across the healthcare ecosystem in the emirate.
- It seeks to help start unique research projects and innovative products, technologies and services in Abu Dhabi’s healthcare facilities.
Science
Two-day inaugural RAK Energy Summit to begin on Oct 4
The inaugural RAK Energy Summit, to be held on October 4-5, will feature experts from the energy sector in the...
- The summit will feature experts from the energy sector in the UAE and globally.
- The experts will discuss the challenges the world faces as it moves to cut carbon emissions.
Business
Large turnout of visitors at WETEX, Dubai Solar Show
The Water, Energy, Technology and Environment Exhibition (WETEX) and Dubai Solar Show (DSS) saw a large turnout of visitors in...
- A total of 1,750 companies from 55 countries worldwide participated in the exhibition.
- Latest global solutions, technologies, innovations in energy, water, sustainability, renewable and clean energy were highlighted in the event.
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
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
Latest News
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
GCC keen to address economic problems: Albudaiwi
Marrakesh, Morocco-- The Gulf Cooperation Council (GCC) attaches great importance to finding solutions to economic problems such as the eradication...
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...
Economy
Most Read
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".
Business
Saudi business sector’s operating revenues at US$1.36trn in 2022, says GASTAT
RIYADH, SAUDI ARABIA - The business sector in the Kingdom reported a 24 percent rise year-on-year (YoY) in operating revenues...
- Operating revenues are the cash revenues generated from core or other sub-activities, according to the General Authority for Statistics.
- Manufacturing activities recorded nearly US$378 billion revenues, followed by the wholesale and retail trade at US$201 billion.
Business
JPMorgan Q3 profit at $13.2bn
The bank’s revenues rose 22 percent to US$39.9 billion.
- One of the biggest factors in bank’s rise in profit was the increased earnings in net interest income (NII).
- NII is the gap between what the bank makes in interest in loans to clients compared with interest payments to customers