Asia markets mixed as investors assess China inflation data
Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reported China’s consumer price index climbed...
Economy
US Federal Reserve keeps interest rates at 23-year high
Washington, United States - The US Federal Reserve on Wednesday held interest rates steady for a sixth straight meeting, keeping the...
Economy
Economy
Algeria, Nigeria, Niger discuss gas pipeline to Europe
The Trans-Saharan Gas Pipeline (TSGP) would transport billions of cubic metres of gas some 4,128 kilometres (2,565 miles) from Nigeria...
- The Trans-Saharan Gas Pipeline (TSGP) would transport billions of cubic metres of gas some 4,128 kilometres (2,565 miles) from Nigeria in West Africa
- Algeria, Africa's largest natural gas exporter, has already seen increased demand following Moscow's invasion of Ukraine
Geostrategy
Macron welcomes Saudi Crown Prince, two discuss energy supply
French President Emmanuel Macron on Thursday warmly welcomed Saudi Arabia's Crown Prince Mohammed bin Salman for talks in Paris, with...
- Crown Prince and the French President held an expanded meeting in the presence of the delegations of the two countries, according to Saudi Press Agency
- For western countries desperate to find new sources of energy, the 36-year-old de-facto leader of the world's biggest oil producer has become an essential figure.
Economy
US Department of State releases 2022 Investment Climate Statements
The US Department of State released on Thursday the 2022 Investment Climate Statements, which help US companies make informed business...
- These help US companies make informed business decisions by providing up-to-date information on the investment climates of more than 160 countries.
- The statements also assess how governments uphold international labor standards and combat corruption among other considerations.
Geostrategy
UAE, Kenya to begin negotiations on free trade agreement
UAE and Kenya announced their intention to begin talks for a Comprehensive Economic Partnership Agreement (CEPA) between the two countries...
- UAE and Kenya announce their intention to begin talks for a Comprehensive Economic Partnership Agreement
- If inked, the CEPA pact will be the first free trade deal between UAE and an African nation
Business
ADNOC eyes stake in key Egypt firm
ADNOC Distribution will acquire 50 percent stake in TotalEnergies Egypt.
- ADNOC Distribution said it will acquire a 50 percent stake in TotalEnergies Egypt for about US$186 million
- The acquisition will also see the refurbishment of several service stations to full ADNOC branding
Economy
Saudi economy to be fastest-growing economy in 2022, says IMF
The International Monetary Fund (IMF), in its World Economic Outlook, 2022 said that the Saudi economy will register a 7.6...
- The International Monetary Fund in its World Economic Outlook, 2022 says the Saudi economy will register a 7.6 percent growth rate this year
- Saudi Arabia's expected growth, as per IMF, would be the highest among advanced, emerging market and developing economies
Economy
UAE launches Power to Liquids roadmap to decarbonize aviation sector
The United Arab Emirates has launched the Power-to-Liquids (PtL) Roadmap: Fueling the Aviation Energy Transition in the United Arab Emirates,...
- The PtL roadmap shows the financial, economic and environmental benefits of PtL in decarbonizing the UAE's aviation industry.
- It says PtL offers a unique opportunity for the Emirates to leverage domestic resources, infrastructure and expertise to grow and decarbonize the economy.
Business
Saudi Central Bank, CMA support 12 fintech startups
The startups presented their innovative solutions following months of hard work that contributed to developing their product strategies and business...
- The startups presented their innovative solutions following months of hard work that contributed to developing their product strategies and business models
- The companies that took part displayed cutting-edge fintech products that directly address social demands and provide solutions to pressing issues
Economy
US Fed decision impacts key policy rates across GCC
While Saudi apex bank has raised its repurchase rate by 75 bps to 3%, and its reverse repo rate by...
- Hours after the US Federal Reserve hiked its key interest rates by 75 bps, the GCC countries followed the suit and increased their policy rates by the same margin
- While the Fed’s step was aimed at combating the soaring inflation, the regional economies followed the US moves as their currencies are pegged to the dollar
Economy
Abu Dhabi Chamber, Philippine Business Council discuss ties
A delegation from the Philippine Business Council, headed by Prof. Gau Raganit, visited the Abu Dhabi Chamber of Commerce and...
- Abu Dhabi Chamber, Philippine Business discuss strengthening relations between the Chamber and Filipino investors
- The two sides discuss increasing the level of cooperation in diverse sectors of mutual interest
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Asia markets mixed as investors assess China inflation data
Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reported China’s consumer price index climbed...
Economy
Company News
Latest News
AI and LLMs poised to transform global job landscape
About 23% of global jobs will transform within five years due to LLMs and AI advancements, according to the World...
Economy
Stocks diverge as oil hits 10-month high of above $95 per barrel
Brent North Sea crude oil traded above $95 per barrel Tuesday for the first time since November last year, supported...
Economy
Airports Council International sets up first office in Riyadh
Riyadh, Saudi Arabia-- The Airports Council International (ACI) for Asia-Pacific and the Middle East has established its first office in...
Business
Most Read
Economy
UAE and Serbia hold discussions on signing of CEPA
In order to boost trade and investment flows and private-sector collaboration, the UAE and Serbia have begun talks on Comprehensive...
- The bilateral non-oil trade in H1 reached US$57.6 million, surpassing the total recorded for the whole of 2020
- Until now, the UAE has successfully concluded CEPAs with India, Indonesia, Israel, Türkiye, Cambodia and Georgia
Economy
UAE’s $1.5 bn bond issue oversubscribed five times
Dubai, UAE - The UAE's $1.5 billion bond issue saw five times oversubscription, attracting over $7.4 billion in bids, the...
- The 10-year bond, with a yield of 4.917%, will list on the London Stock Exchange and Nasdaq Dubai, maturing in September 2033
- The allocation was geographically diverse, with 61% going to banks, 32% to fund managers, 4% to pension funds and central banks, and 3% to the insurance sector
Economy
Project reuse helps UAE boost sustainability drive
Amid UAE's urban expansion, there's a wealth of structures across the country ripe for revitalization, significantly offsetting the environmental impact...
- Amid UAE's urban expansion, there's a wealth of structures across the country ripe for revitalization, significantly offsetting the environmental impact of new developments
- With projects like Expo City Dubai is leading the way, the nation's architectural landscape is evolving towards a greener future, says Devmark CEO Sean McCauley