Gold hits fresh record above $2,300 as Fed hints at easing monetary policy
On Thursday, bullion touched $2,304.96 per ounce, according to Bloomberg News, after Fed boss Jerome Powell said it would likely...
SAMA: E-payments share reached 70% of total payments in 2023
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) announced on Monday that the share of retail consumer electronic payments...
Economy
Business
UAE prohibits export, re-export of Indian wheat, flour for four months
UAE's Ministry of Economy said the "decision comes in view of the international developments that have affected trade flows and...
- Companies that want to export/re-export wheat and wheat flour varieties imported into the country before 13t May need to seek the ministry's permission.
- The firms must submit to the ministry all documents and files that help verify the data regarding the shipment in terms of its origin, date of transaction.
Geostrategy
Aid groups appeal UN to renew Syria cross-border aid resolution
Dozens of aid groups Tuesday urged the United Nations Security Council to renew a resolution allowing aid deliveries to millions...
- Russia, an ally of the government in Damascus, has threatened to use its Security Council veto power to block the resolution's renewal
- Russia has argued aid can instead transit via Damascus-controlled parts of the country across conflict lines
Economy
80 percent children in Ghaza suffer ‘distress’ due to years long blockade: report
Four out of five children in Gaza suffer from emotional distress, Save the Children said Wednesday, 15 years after Israel...
- In a report called "Trapped", Britain-based Save the Children said the mental health of Gazan children has continued to deteriorate
- Since 2018, the number reporting symptoms of "depression, grief, and fear," had risen from 55 percent to 80 percent, the report said
Economy
Global economic growth forecast to pick up towards Q2 end: OPEC report
The global oil demand is anticipated, according to the report, to average 101.8 mb/d in second half of this year,...
- The global oil demand is anticipated, according to the report, to average 101.8 mb/d in second half of this year, up from 98.7 mb/d on average seen in the first half
- Improving mobility in major economies, as well as seasonal containment of the pandemic is projected to support gasoline and distillate demand
Geostrategy
Biden gambles there’s more to gain by courting Saudis
Making an about-face by deciding to visit Saudi Arabia, US president Joe Biden is betting there is more to gain...
- The visit comes as China increasingly looks to Gulf Arab nations, which have mostly rebuffed US efforts to isolate Russia over its invasion of Ukraine
- Crown Prince had a far chummier relationship with former president Donald Trump, whose son-in-law Jared Kushner was said to chat with the prince over WhatsApp
Geostrategy
Venezuela President in Qatar for unannounced visit
Maduro was shown by the official Qatar News Agency being welcomed at Doha's international airport by Sultan bin Saad Al...
- Maduro was shown by the official Qatar News Agency being welcomed at Doha's international airport by Sultan bin Saad Al Muraikhi, the minister of state for foreign affairs
- Maduro was in Iran at the weekend and signed a 20-year-cooperation agreement with the Islamic republic
Geostrategy
UN envoy appeals to Houthi rebels to open road to Taez
The United Nations special envoy to Yemen called on rebel Houthis on Tuesday to agree to reopen roads into the...
- Surrounded by mountains, Taez, which has around 600,000 inhabitants, has been almost cut off from the outside world since 2015
- The truce in effect since April 2 has led to a reduction in fighting and in civilian casualties, as well as the resumption of commercial flights from Sanaa
Geostrategy
Facing gas ‘blackmail’ by Russia, EU turns to Israel
The European Union wants to strengthen its energy cooperation with Israel in light of Russia's use of gas supplies to...
- Moscow's conduct "only strengthens our resolve to break free of our dependence on Russian fossil fuels," she said
- Israel is estimated to have gas reserves of at least one trillion cubic metres, with domestic use over the next three decades expected to total no more than 300 bn
Economy
Algeria president sacks finance minister after 4 months in job
The president "on Tuesday signed a decree ending the functions of Minister of Finance Abderrahmane Raouya," the presidency said in...
- The president "on Tuesday signed a decree ending the functions of Minister of Finance Abderrahmane Raouya," the presidency said in a statement
- Raouya's sacking comes less than a month after Tebboune laid off central bank chief Rostom Fadli, in office for less than two years
Economy
Food security main agenda of UAE delegation in Netherlands
A UAE delegation visits Netherlands to exchange knowledge and best practices in the food sector with their Dutch counterparts with...
- The UAE delegation shared their wide range of expertise with their Dutch counterparts
- The delegation learned first-hand about the latest innovations in Dutch agriculture technology
Most Read
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
Gold hits fresh record above $2,300 as Fed hints at easing monetary policy
On Thursday, bullion touched $2,304.96 per ounce, according to Bloomberg News, after Fed boss Jerome Powell said it would likely...
Company News
Latest News
China’s digital economy surged by $4 trillion from 2016 to 2022
Tianjin, China - The digital economy in China surged by $4.1 trillion from 2016 to 2022, which works out as...
Economy
Qatar’s non-energy private sector records strong growth in August
Doha, Qatar--Qatar's non-energy private sector witnessed strong expansion in August on the back of new orders in the manufacturing and...
Economy
Israel suspension of Gaza exports risks ‘catastrophe’: businesses
Osama Nofal, of the Gaza economic ministry, put the value of Gaza exports to Israel and the occupied West Bank...
Economy
Most Read
Economy
Healthcare sector in Qatar witnesses remarkable growth, says IPA Qatar
Doha, Qatar--Sustained investment in healthcare infrastructure in Qatar has seen a rapid transformation in the sector as promotion of health...
- A study carried out by IPA Qatar shows that health promotion and disease prevention underpin its commitment to ensuring the well-being of its citizens
- In the next 10 years, digital infrastructure, virtual care, remote patient monitoring and AI will account for some 30% of hospital investments in the region
Business
Saudi Arabia and Russia extend oil cuts, Brent crude price up
The Saudi production cut of one million barrels per day which first took effect in July will continue "for another...
- Brent crude rose above $90 per barrel on the news for the first time since November, while West Texas Intermediate, the main US futures contract, jumped 1.9 percent to $87.16.
- Riyadh, the world's biggest crude exporter, first announced its cut after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia.
Business
UAE announces US$4.5bn in Africa clean energy investments
Speaking at a landmark climate summit hosted by Kenya, Sultan Al Jaber, who heads the government-owned renewable energy firm Masdar,...
- The minister said the investment in Africa is aimed to develop 15 GW of clean power by 2030
- As of 2022, the continent's renewable generation capacity was 56 gigawatts, according to the IREA