Iraqi Prime Minister unveils action plan to revitalize local banking sector
The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign...
Economy
DWTC welcomes 2.47m visitors in 2023, says EVP
DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC) Mahir Julfar said that the DWTC's performance in 2023...
Business
Business
Taliban and US to discuss release of frozen funds after quake
The United States and the Taliban plan talks Thursday in Qatar on unlocking some of Afghanistan's reserves following a devastating...
- White House said it is working "urgently" on the effort to release Afghan's frozen funds
- Washington at the time froze $7 billion in reserves and the international community halted billions in direct aid to Afghanistan
Business
Recession fears drag down European, Asian stocks
Asian and European stock markets nursed losses Wednesday on resurgent fears that sharp interest rate hikes aimed at tackling runaway...
- Bourses in Paris, Frankfurt, Tokyo, and Hong Kong all lost around one percent or more, taking their cues from Tuesday's rout on Wall Street
- Updated first quarter US GDP data released Wednesday chopped the personal consumption growth figure to 1.8 percent, from 3.1 percent
Economy
New law to allow UAE companies to act as commercial agents
The new draft law is geared to provide more business opportunities for UAE citizens and allow new categories of citizens...
- The new draft law is geared to provide more business opportunities for UAE citizens and allow new categories of citizens to access the commercial agencies business
- The UAE has also enacted a new draft law on the cooperatives that allows for the establishment of various forms of cooperatives in the country
Science
Metaverse can contribute $4bn to UAE economy
The Dubai Metaverse Strategy anticipates that 42,000 jobs will be virtualized through the metaverse by 2030 while also improving resident...
- The Dubai Metaverse Strategy, which was recently announced, aims to raise the metaverse sector's contribution to the UAE's economy to $4b by 2030
- Dubai companies like Emirates, Damac and others are already betting big on this world, and many more are expected to join the pack
Business
UAE Minister promotes trade, friendly ties during Florida visit
UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi concluded a two-day visit to Florida which...
- The UAE minister's trip to Florida builds on recent trips to the UAE by local Florida officials
- He attended several high level business development and networking events and meetings
Business
US stocks on defensive amid inflation and slowdown anxiety
Wall Street stocks were mixed early Wednesday, treading water after the prior session's pullback that came amid worries over soaring...
- After last week's rally, stocks were back on the defensive Tuesday, falling hard after downcast consumer confidence reading.
- The broad-based S&P 500 added 0.1 percent at 3,825.61, while the Nasdaq Composite Index dipped 0.1 percent to 11,173.57.
Geostrategy
Ocean-based climate solutions important, says UAE Minister
UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said that leveraging nature-based solutions, especially blue carbon...
- The UAE minister says leveraging nature-based solutions to mitigate and adapt to the impacts of climate change is vital
- She says important to explore ways to tackle marine pollution from land- and sea-based sources
Business
Qatar trade balance surplus surged 120 percent in May
The year-on-year increase in total exports was mainly due to higher exports of petroleum gases and other gaseous hydrocarbons reaching...
- The total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 45.3 billion.
- The imports of goods in May 2022 amounted to around QR 8.8 billion, showing an increase of 5.5 percent compared to May 2021.
Business
World Bank approves $130m loan for Tunisia to ensure food security
The loan approved Wednesday aims to ensure "affordable bread for the poor, barley for livestock, and agricultural inputs for domestic...
- The package is aimed at lessening the impact of the Ukraine war by financing vital soft wheat imports.
- Tunisia is dealing with heavy public debt, a low credit rating and steep inflation, which worsened because of Ukraine war.
Science
WHO backs Qatar to manage Covid risks well at World Cup
The WHO voiced confidence Tuesday that hosts Qatar would successfully manage the Covid-19 risks at the 2022 football World Cup.
- Two million tickets will be sold in total, with another one million reserved for sponsors and the sport's global governing body FIFA
- The Qatari capital Doha, with a population of about 2.4 million, is bracing itself for the huge influx of visitors
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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
Iraqi Prime Minister unveils action plan to revitalize local banking sector
The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign...
Economy
Company News
Saudi Catering, RSG ink pacts
Business
Latest News
Iran-US non-oil trade reaches US$31m in January-July 2023
TEHRAN, IRAN - The US Bureau of Statistics in its latest report said the trade between Iran and the United...
Business
Middle East sets global standards in renewable energy
This TRENDS Explainer Video explores how the Middle East is fueling its economy with renewables like solar, wind, and green...
Videos
Saudi Industrial Production Index falls third month in a row
Riyadh, Saudi Arabia -- Saudi Arabia’s Industrial Production Index (IPI) fell for the third month in a row, declining by...
Economy
Most Read
Economy
Iran’s oil exports to China touch all-time record in August
Tehran, Iran--Iran’s oil exports to China hit an all-time record in August despite continued US pressure on the country, according...
- According to data released by Kpler, a French firm, oil exports to China had reached an average of 1.5 million barrels per day (bpd) in August
- It is estimated that Iran’s revenues from August sales of oil to China had amounted to some $3.5 billion, which it said was equal to entire oil sales in 2020
Geostrategy
Global aid pours into Morocco as quake death toll passes 2,100
The International Federation for Red Cross and Red Crescent Societies has warned that the next 24 to 48 hours will...
- Countries such as Turkey, Switzerland, Belgium, Italy, Poland, and Israel have also offered assistance
- A team of French volunteer firefighters has arrived in Morocco as US says it is ready to provide assistance
Economy
‘Saudi Arabia emerges as a leader in digital economy’
"Today, the Kingdom takes pride in its advanced technological sector, which has solidified its regional and global position as a...
- Saudi Arabia ranks second in digital competitiveness among G20 countries, fourth globally in the Digital Readiness Index, and garnered $446m in venture capital investments in H1
- Women's participation in Saudi sectors rose from 7% to 33%, the Kingdom launched the world's largest virtual hospital, and introduced the first Arab and Muslim female astronaut