Fed Chair Powell confirms September rate cut signal
The Federal Reserve kept its key interest rate at 5.25% to 5.5%, citing “some further progress” toward its 2% inflation...
Economy
Dubai’s GDP tops $31.3 bn in Q1 2024, growing 3.2%
The financial and insurance sector saw a 5.6% rise, reaching USD 4.1 billion (AED 15.1 billion), supported by significant growth...
Economy
EU plans emergency action to halt energy price rise
High gas prices have been followed by disruptions in the nuclear and hydroelectric sectors amid a heatwave blamed on climate...
- The European Commission has yet to publish a detailed plan for market reform, but some member states have been pushing for a temporary cap on wholesale gas prices.
- EU officials are also considering measures to split electricity price setting from the gas price and take into account other energy sources.
Business
CBUAE launches new website with various services
The Central Bank of the UAE (CBUAE) has announced the launch of a new corporate website with various interactive digital...
- The Central Bank of the UAE has launched the corporate website with various interactive digital services for meeting the aspirations of the consumers.
- The CBUAE plans to be among the top central banks globally in promoting financial stability.
Economy
Saudi SMEs number up by 25 percent in Q1 2022: Monsha’at
Riyadh, Saudi Arabia: The number of small and medium enterprises (SMEs) in Saudi Arabia increased by 25.6 percent to 892,063...
- The Riyadh region accounted for 35.4 percent of the total establishments, the Makkah region 21 percent and the Eastern region 12.7 percent.
- Monsha’at report said that 81 percent of these establishments are classified as micro and small establishments.
Business
Honda, LG to invest $4.4 bn
Firms say construction of US plant to begin next year.
- Japanese auto giant Honda and South Korean battery maker LG Energy Solution announced a joint venture to invest $4.4 billion in a US electric car battery plant
- The move comes after California last week ruled that all new cars sold in America's most populous state must be zero-emission from 2035
Economy
Beckham to promote Qatar attractions in tourism push ahead of FIFA World Cup
As part of the campaign, Beckham tours the country with several local personalities, exploring spice markets and street art in...
- As part of the campaign, Beckham tours the country with several local personalities, exploring spice markets and street art in the Gulf nation
- The campaign will highlight Qatar’s potential as a destination for quick weekend getaways and stopover packages being offered to transit travellers
Economy
Asian markets tumble after Powell’s rate hike warning
The hefty selling tracked a painful day on Wall Street, where all three main indexes tanked between three and four...
- Analysts said the chances of a third successive 75 basis-point increase next month had risen, with US Treasury yields surging
- Tokyo, Sydney, Seoul and Taipei all fell more than two percent. Hong Kong, Shanghai, Singapore, Jakarta and Wellington were also well down
Economy
Ruwad supports 957 projects totalling $9 million
Sharjah acquired 67 percent of the new projects, while eastern region got 21 percent and the central region 12 percent
- Sharjah acquired 67 percent of the new projects, while eastern region got 21 percent and the central region 12 percent
- SMEs are a key player in the UAE's future development plans and a main pillar of its recovery efforts
Opinion
Core inflation is unofficially dead
If the apex banks focus too much on core inflation, it will be a big mistake. Food and energy will...
- Central banks have been very late to the inflation game as they have underestimated the effects of the stimulus during the pandemic, says an expert
- Food and energy will be at the center of the crisis years with climate change and green transformation being inflationary in the years to come, he adds
Economy
Saudi central bank’s assets climb to $535 billion in July
For the first time in more than five years, assets of Saudi Arabia's central bank have shot up to $535...
- This translates to a month-on-month growth of 1 percent from the $528 billion in June
- The central bank’s net foreign assets fell by $2.48 billion during July to $445 billion
Economy
Jordan approves 33 articles of new investment law so far
The Lower House held an evening session on Sunday, chaired by Speaker Abdul Karim Dughmi.
- The Lower House held an evening session on Sunday, chaired by Speaker Abdul Karim Dughmi
- The drafty law has 52 articles, as referred to by the House Economy and Investment Committee
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Fed Chair Powell confirms September rate cut signal
The Federal Reserve kept its key interest rate at 5.25% to 5.5%, citing “some further progress” toward its 2% inflation...
Economy
Company News
Latest News
Congress passes bill, averting US government shutdown
Three hours before the deadline, the Senate voted to keep the lights on through mid-November with a resolution that had...
Geostrategy
Old Doha Port signs many agreements during Monaco Yacht Show
Monaco, Monaco--The Old Doha Port has signed several agreements with professional global companies, specialized in yacht during its participation in...
Business
Aerial taxis to help Dubai fly high in air mobility
"The challenges in air mobility are posed by weather conditions. Leveraging data and insights from past experiences, strategies have been...
Economy
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Economy
Social aspects of ESG put some firms in a tight spot
While companies are increasing their investments in social initiatives, many grapple with effective execution and evaluation, highlights a new study...
- While companies are increasing their investments in social initiatives, many grapple with effective execution and evaluation, highlights a new study by Kearney
- With only a third of companies seeking external insights, there's a clear opportunity for enhanced collaboration and knowledge-sharing, the report points out
Geostrategy
China rejects US disinformation accusations, calls Washington ’empire of lies’
Beijing, China - China on Saturday accused the United States of being an "empire of lies", hitting back after a State...
- The report, released Thursday by the US State Department's Global Engagement Center, accused China of financing propaganda, disinformation.
- "It is the U.S. that invented the weaponizing of the global information space," a Chinese foreign ministry spokesperson said in a statement.
Geostrategy
UN conference adopts plan to reduce harmful chemicals
PARIS, FRANCE - A new roadmap to reduce the environmental risks from chemicals and waste was adopted at a United Nations...
- The plan sets out 28 concrete targets and guidelines for key sectors across the entire lifecycle of chemicals, from production to waste.
- It calls for a transition to more sustainable chemical alternatives, responsible management of chemicals in industry, agriculture and healthcare.