Asia-Pacific markets gain ahead of US inflation data
Asia-Pacific markets traded higher on Thursday, following gains on Wall Street that saw the S&P 500 and Dow Jones Industrial...
Economy
Riyadh leads Saudi Arabia’s date production with record sales
Riyadh, Saudi Arabia - Riyadh is currently hosting the third Seasonal Dates Exhibition, a major economic, social, and tourist event....
Economy
Economy
US to persist with imposition of tariffs on Chinese goods
Paying heed to hundreds of requests from American companies, the US government confirms it will continue to enforce the tariffs...
- President Biden's team was divided, with US Trade Representative Katherine Tai pushing to keep the punitive duties in place
- Trump imposed tariffs on about $350 billion in annual imports from China in retaliation for Beijing's theft of American intellectual property and forced transfer of technology
Economy
Saudi Arabia eyes partnerships to accelerate growth of digital economy
Saudi IT Minister, Eng. Abdullah bin Amer Al-Swaha, held meetings with his counterparts from the other countries at the Indonesian...
- Saudi IT Minister, Eng. Abdullah bin Amer Al-Swaha, held meetings with his counterparts from the other countries at the Indonesian city of Bali
- The meetings also discussed enhancing cooperation in the areas of digital economy growth, emerging technologies and the digital government
Economy
Number of UAE bank employees surged to 34,330 in H1 2022: CBUAE
In its June 2022 report, CBUAE noted that the number of employees in the country’s banking sector increased to 34,332...
- CBUAE report noted that the number of employees in the country’s banking sector increased to 34,332 during H1 2022
- A total of 27,545 employees work in national banks and 6,787 employees for foreign banks operating in the country
Economy
World food prices drop for fifth consecutive month: FAO
The latest Food Price Index shows that the prices of five commodities - cereals, vegetable oil, dairy, meat and sugar...
- The latest Food Price Index shows that the prices of five commodities - cereals, vegetable oil, dairy, meat and sugar - were lower in August than in July
- FAO said the decline in cereal prices reflected improved production prospects in North America and Russia
Geostrategy
G7 to ‘urgently’ implement Russian oil price cap
G7 industrialized powers vowed Friday to "urgently" move towards implementing a price cap on Russian oil imports in a bid...
- Households in Europe have borne the brunt of rising energy prices, with governments under pressure to alleviate the pain of the resulting high inflation.
- Moscow would "simply not supply oil and petroleum products to companies or states that impose restrictions".
Geostrategy
Jordan PM refers to shared views in meeting with Kuwaiti minister
Prime Minister of Jordan Dr. Bisher Khasawneh met Kuwaiti Minister of Information and Culture Abdul Rahman Al-Mutairi, who is in...
- The Jordanian PM reiterated to the Kuwaiti minister the two countries’ shared views on Arab, regional and international issues.
- The Kuwaiti Minister is in Jordan to attend the 21st Amman International Book Fair.
Science
DEWA’s R&D Center registers patent for robotic carrier
Dubai Electricity and Water Authority (DEWA) 's Research and Development (R&D) Center has registered its sixth patent for a user-friendly...
- DEWA's robotic carrier can transport glass panels or sensitive materials that require close care.
- The robotic carrier can lift solar photovoltaic panels easily from any surface.
Economy
Slowdown or not? US job market walking a tight rope
According to consensus, the unemployment rate for August should fall somewhere around 3.5 percent when official data is released at...
- American employers ratcheted back their hiring in August to 132,000, according to data published Wednesday by payroll firm ADP
- Economic slowdown, fears of recession, or Fed action to curb soaring inflation have not deflated the hot job market
Economy
Saudi Arabia eases visa rules for GCC, US, UK, EU residents
The regulations came into effect after the minister of tourism Ahmed Al-Khateeb signed on a ministerial decree, making it easier...
- The regulations came into effect after the minister of tourism Ahmed Al-Khateeb signed on a ministerial decree, making it easier to visit the oil-rich kingdom
- The ministerial decree removes the requirement of many would-be visitors to attend their country's embassy before entering Saudi Arabia
Business
Saudi economy pins hope on female entrepreneurs
Saudi women, who had begun with small projects, are now creating startups and setting up factories, highlighting drastic change in...
- Saudi women have achieved exceptional success through entrepreneurship, particularly with the change in the business environment.
- The goals of Vision 2030 are not limited to increasing entrepreneurship but also increasing women's participation in economic fields.
Asia-Pacific markets gain ahead of US inflation data
Asia-Pacific markets traded higher on Thursday, following gains on Wall Street that saw the S&P 500 and Dow Jones Industrial...
Economy
Company News
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El Nino forced sugar price to hit 13-year high in September, says FAO
Paris, France - Global sugar prices soared to their highest level in almost 13 years in September as the El Nino...
Economy
World Bank expects Gulf economies to grow by 1 percent in 2023
Dubai, UAE -- The economies of Gulf Cooperation Council (GCC) countries are expected to grow by 1 percent in 2023,...
Economy
Aramco’s Luberef resumes bitumen exports after 20 years
RIYADH, SAUDI ARABIA - King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk...
Business
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Business
Luxembourg, EU’s richest country, grapples with housing crisis
Luxembourg, Luxembourg -- Luxembourg's residents may be classified as the wealthiest in the European Union, but the sky-high cost of buying...
- In the capital city, new-build flats sell for around $1,300 per square foot and older ones go for 10,700 euros. The average cost of a house is 1.5 million.
- Housing crisis has become the number one concern in the Grand Duchy of 660,000 people -- smaller than Rhode Island, the smallest US state -- as it goes to the polls on Sunday.
Tens of millions of children uprooted by climate disasters: UNICEF
In a sweeping report on the issue, the United Nations agency detailed the heart-wrenching stories of some of the children...
- From 2016 to 2021, floods, storms, droughts and wildfires led to 43.1 million child displacements in 44 countries, the UNICEF report says
- UNICEF called on world leaders to take up the issue of child displacement at the COP28 climate summit in Dubai in November and December
Economy
GCC economic integration: The grouping okays more measures at Muscat meeting
Riyadh, Saudi Arabia - The Gulf Cooperation Council (GCC) has approved several more regulations and resolutions as part of its...
- GCC took more steps to complete the GCC Customs Union and the GCC Common Market to achieve economic unity by 2025
- Muscat meeting also took note of the signing of a Free Trade Agreement between GCC countries and the Islamic Republic of Pakistan