UAE launches first 7-year Islamic Treasury Sukuk worth $150 million
Abu Dhabi, UAE -- The UAE Ministry of Finance said on Sunday it had launched its first-ever seven-year tranche of...
Business
Gulf startup hubs: Converging strategies, diverging ambitions
Despite fierce branding as rivals, Gulf startup hubs share capital, policy, and talent structures that are quietly shaping distinct, globally...
Interview
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
Economy
Central & Southern Asia and Oceania region leads the world in cryptocurrency adoption
The fifth annual Chainalysis Global Crypto Adoption Index looks at both on- and off-chain data to determine which countries are...
- This year, crypto activity increased across countries of all income brackets
- Central & Southern Asia and Oceania accounted for over $750 billion in crypto asset inflows
Economy
ECB set to cut interest rates before the Fed’s big decision next week
The European Central Bank on Thursday is set to slash rates again by 25 basis points just days ahead of...
- In July, the ECB left interest rates unchanged in a unanimous vote following June’s landmark cut
- Headline inflation in the EURO hit a three-year low in August with a reading of 2.2%
AI adoption in GCC surges as governments and the private sector embrace technology
With 93% of Saudi workers considering generative AI essential, alongside 95% in the Middle East and 79% globally, the region's...
- 68% of Saudi workers use generative AI weekly, compared to 55% globally, while an overwhelming 93% consider it an essential tool at work
- The New York Times reported that representatives from Saudi Arabia's PIF have discussed potential partnerships with leading Silicon Valley venture capital
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
UAE launches first 7-year Islamic Treasury Sukuk worth $150 million
Abu Dhabi, UAE -- The UAE Ministry of Finance said on Sunday it had launched its first-ever seven-year tranche of...
Business
Company News
Latest News
Turkey cuts interest rate again as inflation eases
Turkey's central bank on Thursday cut its policy interest rate for a second meeting in a row as the country's...
Economy
Global oil supply hit record high in August: IEA
Paris, France -- Global oil supply hit a record high in August as OPEC+ and other countries ramped up production,...
Economy
Stock markets strike records despite geopolitical unrest
Gains for oil prices were relatively modest, while gas futures were unmoved after Israel's strikes Tuesday against Hamas in gas-rich...
Business
Most Read
Science
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...
- K2 Think embodies a new approach to building smarter, more efficient AI, as with just 32 billion parameters, it outperforms flagship reasoning models that are 20X larger.
- This breakthrough in parameter efficiency makes K2 Think a powerful alternative for advanced reasoning, redefining what is possible with compact architectures
Business
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...
- US employment growth is likely to be revised down by 911,000 for the 12 months ending in March, official data showed.
- Investors are now looking to consumer inflation data coming Thursday, since a hot reading could keep the Fed from cutting further as it looks to curb price increases.
Economy
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...
- The oil-rich Gulf kingdom has been a major backer of the new Syrian government, which came to power after an Islamist-led offensive toppled longtime Syrian ruler Bashar al-Assad
- Other agreements inked on Sunday would see Riyadh support the reconstruction of 34 schools in Syria's Aleppo, Idlib and Homs provinces