Weaker dollar creates window for international property buyers in Dubai
Dubai faces substantial supply headwinds that may absorb currency-driven demand without triggering significant price gains. Approximately 45,000-50,000 new residential units...
Jobs and investment top MENA expectations from multinational firms, Ipsos finds
As geopolitical turbulence grows, companies are increasingly at the mercy of forces beyond corporate leadership’s control.
Economy
Putin expects Türkiye’s Erdogan to attend BRICS summit in Russia
Russian President Vladimir Putin said Wednesday he expected his Turkish counterpart Recep Tayyip Erdogan to attend a BRICS summit in...
- Putin says he was due to meet Erdogan on October 23 - a day after the start of the BRICS summit in Russia's Kazan
- "Our president has many times stated that we want to become a BRICS member," says Turkish main political party
Economy
Middle East & North Africa: Regulatory momentum and DeFi fuel crypto adoption
The Middle East & North Africa (MENA) region ranks as the seventh-largest crypto market globally in 2024, with an estimated...
- Centralized exchanges (CEXs) remain the primary source of crypto inflows across MENA
- Across MENA, stablecoins and altcoins are gaining market share over traditionally preferred assets like bitcoin and ether
Lebanon flights suspended as Hezbollah-Israel tensions continue to spiral out of control
Major airlines such as Emirates, Qatar Airways and Air France have suspended growing numbers of flights to Lebanon as tensions...
- United Arab Emirates-based Emirates announced the temporary suspension of its flights to Beirut
- Air France on Tuesday extended the suspension of its Beirut flights until October 1
Economy
Economy – the biggest loser in the Israeli-Arab war
The sheer scale of destruction from the deadliest war in Gaza's history has made the road to recovery difficult to...
- With bombs still raining down on Gaza, many of the Palestinian territory's 2.4 million people face re-construction challenges
- 11 months of war in Gaza has battered Israel's economy, and poverty is now threatening communities
Economy
Coal mine blast in Iran kills more than 50 mine workers
A blast caused by a gas leak at an Iranian coal mine has killed at least 51 people, state media...
- A leak of methane gas led to the blast in two blocks of the mine, which is owned by the private Iranian firm Madanjoo
- State TV broadcast footage of ambulances and helicopters arriving at Tabas in eastern Iran to transport the injured to hospital
Economy
What a Fed rate cut could mean for the world
The U.S. Federal Reserve is on Wednesday heading for its first interest rate cut since the onset of the COVID-19...
- Global markets brace for the first rate cut by the Federal Reserve this week
- High level of uncertainty around whether it will cut by 25 basis points or 50
What are the needs and challenges of an ageing workforce?
Age bias in the world of work is real. But it is more complex and nuanced than the common narrative...
- Age bias in the world of work is real, but it is more complex and nuanced than the common narrative around ageism.
- These hidden struggles, coupled with a higher rate of rejection than among other applicant pools, can trigger a dangerous descent into a resignation mindset
Economy
Residential, hospitality sectors drive Saudi Arabia’s real estate market in H1 2024
The Kingdom’s tourism and entertainment investments, including a new star rating system, support growth in hospitality, positioning Saudi Arabia as...
- Residential sale prices experienced 10% year-on-year increase in H1 in Riyadh and average rents grew by 9% annually
- In Jeddah, the pace of growth was slightly slower, with sale prices rising by 5% and rents increasing by 4% year-on-year during the same period
Economy
Stocks firm, dollar subdued as market flirts with outsized Fed cut
Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start...
- Futures imply 59% chance of outsized Fed rate cut
- Policy makers project 100 basis points of cuts this year and 150 basis points for 2025
Economy
Standard & Poor’s affirms Saudi Arabia’s ‘A/A-1’ credit rating
Riyadh, Saudi Arabia – Standard & Poor's (S&P) affirmed the Kingdom's credit rating in local and foreign currency at "A/A-1"...
- S&P explained that its affirmation of the Kingdom's strong credit rating results from the Kingdom's reforms and investments
- It expected that the Kingdom's gross domestic product (GDP) will continue to grow during the years 2024-2027
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Weaker dollar creates window for international property buyers in Dubai
Dubai faces substantial supply headwinds that may absorb currency-driven demand without triggering significant price gains. Approximately 45,000-50,000 new residential units...
Company News
Latest News
MBZUAI, G42 launch K2 Think: Leading open-source system for advanced AI reasoning
Abu Dhabi, UAE -- The Institute of Foundation Models at Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) and G42...
Science
Stocks climb eyeing US rate cut, political turbulence
A steep downward revision to US job creation cemented expectations that the Federal Reserve would begin lowering its benchmark rate...
Business
Saudi launches Damascus area reconstruction project
Saudi Arabia announced on Sunday humanitarian projects for Syria including the removal of wartime rubble around Damascus, weeks after inking...
Economy
Most Read
Science
AI giant Anthropic to pay $1.5 bn over pirated books
San Francisco, United States - Anthropic will pay at least $1.5 billion to settle a US class action lawsuit over...
- "This landmark settlement far surpasses any other known copyright recovery," said plaintiffs' attorney Justin Nelson. "It is the first of its kind in the AI era."
- San Francisco-based Anthropic announced this week that it raised $13 billion in a funding round valuing the AI startup at $183 billion
Science
Norway experiments with electric plane in real-life test
Oslo, Norway -- An electric plane took to the skies between the Norwegian airports Stavanger and Bergen on Thursday, simulating...
- The small aircraft -- an Alia built by US aircraft manufacturer Beta -- flew the 160 kilometers in a test run by the Norwegian affiliate of the transport company Bristow.
- The flight took 55 minutes and simulated a cargo flight route in southeastern Norway.
Business
Global bond selloff spreads to Japan, gold hits record high
Wall Street stocks opened mostly higher, with shares in Google parent-company Alphabet shooting up nearly seven percent after winning a...
- Yields on 30-year Japanese government bonds rose to an all-time high of 3.29 percent on Wednesday, while 20-year yields reached their highest since 1999.
- The selloff in Japanese debt mirrors widespread moves in the United States and Europe, with investors spooked over substantial piles of government debt globally.