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...
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"...
Economy
Economy
US envoy expects China to ramp up coercion of Taiwan
The US in retaliation will begin formal trade talks with Taiwan by the autumn to show support for the democracy,...
- Taiwan lives under constant threat of an invasion by China, which claims the democratically ruled island as part of its territory to be seized one day
- The US envoy said Washington would respond with "calm, but resolute steps" to keep the Taiwan Strait open and peaceful
Economy
OPEC not responsible for soaring inflation: Secretary-General
“OPEC is not behind this price increase,” said the secretary-general of the the influential group of producers Haitham Al-Ghais. “There...
- Al-Ghais’ comments follow the OPEC’s decision to add only 100,000 barrels per day from next month
- He said the factors behind the spike in gas and oil prices are beyond OPEC and identified underinvestment as the main problem
Economy
US Fed warns of more interest rate cuts to tame inflation
US Fed officials believe it will take some time to bring "unacceptably high" inflation back down near the two percent...
- US policymakers are trying to tread a narrow path and avoid pushing the world's largest economy into recession
- Fed officials are trying to dispel some of that excess optimism, stressing in recent speeches that the central bank is committed to pursuing its battle on inflation
Economy
UAE scores high in 11 best expatriate destination parameters: Survey
The UAE has exceeded international figures in 11 indexes on the best expatriate destinations based on various factors, which include...
- German research firm InterNations said UAE achieved advanced positions in four key pillars and 11 indexes, out of five pillars and 17 indexes.
- About 94 percent of those surveyed felt safe in the UAE while the global rate was under 81 percent.
Economy
High oil prices may push Saudi growth to 7.6 percent in 2022: IMF
The government's Vision 2030 reform programme, designed to reduce the kingdom's dependence on oil, has also given the economy a...
- The kingdom managed to contain inflation at 3.1% in 2021, and the IMF predicted it would remain little changed this year at 2.8%, even as rates soar in much of the developed world.
- The fund said that was largely due to "low passthrough" of the double-digit wholesale price inflation and increasing shipping costs battering the world economy.
Business
Number of UAE-based private sector employees grows by 9% in Q2
The Ministry of Human Resources and Emiratisation said in its private sector workforce report that the construction sector accounted for...
- Twenty-six percent of the total private sector workforce registered with the Ministry are in the construction sector, followed by 21 percent in the trade and repair services.
- Agriculture sector marked the highest (70 percent) growth in the number of new work permits issued, followed by social and personal services.
Saudi PIF buys shares in Alphabet, Zoom, Microsoft
The Fund purchased 1.8 million shares of Microsoft, 4.7 million class A shares of Zoom, and 213,000 class A shares...
- The Fund purchased 1.8 million shares of Microsoft, 4.7 million class A shares of Zoom, and 213,000 class A shares of Alphabet
- It also acquired shares in JPMorgan and BlackRock, buying 3.9 million shares and 741,693 shares respectively
Economy
Qatar launches public consultation about National Blockchain Blueprint
The blueprint establishes the frame for blockchain at the national level and identifies its key elements; innovation and creativity.
- The blueprint establishes the frame for blockchain at the national level and identifies its key elements
- It underlines the potential of blockchain technology and the opportunities that it can offer to Qatar
Economy
UN ship with grain for Africa leaves Ukraine: ministry
The MV Brave Commander left the Black Sea port of Pivdennyi and will sail to Djibouti "for delivery to Ethiopia",...
- Kyiv and Moscow agreed a deal brokered by the UN and Turkey last month to unblock Black Sea grain deliveries after Russia's invasion
- The agreement lifted a Russian blockade of Ukraine's ports and established safe corridors through the naval mines laid by Kyiv
Economy
China heat wave pushes up prices as hens lay fewer eggs
Extreme weather has become more frequent owing to climate change, scientists say, and this will likely grow more intense as...
- In Hefei city, farmers reported a drop in egg production because of the heat, according to a Jianghuai Morning News report
- Hefei has so far logged 14 days of temperatures above 38 degrees Celsius, Hefei Evening News said, noting that this was a record
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...
Economy
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Strong growth key to GCC’s FDI appeal
Infographics
Threats and violence as Turks feud over soaring rents
The government has capped property rent increases at 25 percent for households, and aligned them with the official inflation rate...
Economy
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
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Economy
Saudi Arabia projects 2024 budget deficit at 1.9% of GDP
The kingdom's finance ministry estimated expenditures for 2024 to be at US$333.5 billion. According to the ministry, the projection is...
- The kingdom's finance minister said that the government will continue implementing fiscal and economic structural reforms
- The minister also noted the important role of the PIF and development funds that enhance the growth of non-oil GDP
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.