Saudi Arabia launches ‘National Semiconductor Hub’Â
At least 50 semiconductor design companies will be established in Saudi Arabia by 2030 after a new initiative was launched to develop...
Economy
The Middle East fastest growing Real-Time Payments market globally
For the second consecutive year, the Middle East is the fastest-growing real-time payments market globally, according to the 2024 Prime...
Economy
Economy
Inflation, subsidy reform hit stomachs in isolated Iran
Inflation is making an unwelcome comeback globally -- stoked by high energy and food prices, driven largely by Russia's invasion...
- Economic analyst Saeed Laylaz believes price growth in Iran has exceeded 40 percent annually since 2018
- In Tehran's marketplaces, attention is focused on the consequences and effects of inflation, rather than its causes
Economy
UAE to attract super rich, say investment trends
One big factor for more HNWIs making their way to the UAE is the ongoing war in Ukraine which has...
- The UAE tops the list of the ten countries drawing net inflows of the wealthy in 2022, followed by Australia, Singapore and Israel
- The report titled "The flow of the world's wealthy in the second half of 2022", tracks private wealth and investment migration trends worldwide
Geostrategy
Russia eyes improved ties with Saudi Arabia, UAE
Putin and Arab leaders focus on boosting relations in various fields -- including technology, food security and energy -- during...
- Russia President Vladimir Putin and several Arab leaders stress on the importance of strengthening relations
- Relations in various fields -- including technology, food security and energy -- remain in focus during SPIEF 2022
Economy
DCCC holds talks on UAE-India free trade agreement
Dubai Customs Consultative Council held a meeting on the historic UAE-India Comprehensive Economic Partnership Agreement, expected to increase trade between...
- The UAE-India Comprehensive Economic Partnership Agreement is expected to increase trade between the two countries by 120 percent
- Due to CEPA, trade between the two countries is expected to reach US$100 billion within five years compared to US$45 billion currently
Videos
UAE set to lead MENA metaverse
Firms in the region are now offering better participation, levels of cooperation and communication to their staff through productive workspaces...
- At its broadest, metaverse combines elements of social media, augmented reality, virtual reality, video games, cryptocurrencies and other advanced technologies.
- As the next big market opportunity, the metaverse could provide nearly US$800 billion in revenue by 2024, Bloomberg Intelligence estimates show.
Economy
Sheikh Hamdan lauds success of Barakah Nuclear Plant
The UAE is continuing its move towards environmentally friendly energy sources to fulfill its international obligations regarding climate change and...
- The UAE is continuing its move towards environmentally friendly energy sources to fulfill its international obligations regarding climate change
- The country will achieve the objectives to diversify energy sources and its ambitious strategic initiative for climate neutrality by 2050
Economy
Qatar discusses growth of digital economy with US Embassy
In a virtual meeting Qatari minister, US Embassy officials, American Chamber of Commerce personnel, government officials and representatives of the...
- Qatari minister speaks of his country's vision for a digital economy
- He said US firms have a key role in Qatar's digital economy
Economy
US Federal Reserve hints at another interest rate hike
Federal Reserve Governor Christopher Waller on Saturday threw his support behind another large interest rate increase next month. The Fed on...
- The super-sized rate increase came as the Fed faces intense pressure to curb soaring gas, food, and housing prices
- According to Fed Governor, central bankers were trying to prepare markets by offering guidance about when it would stop purchasing bonds
Economy
Sudan farmers resent government apathy to buy wheat
Over 18 million people, nearly half the Sudanese population, are expected to be pushed into extreme hunger by September, according...
- Sudanese officials have declared that they will not be able to buy this season's entire harvest due to lack of funds
- Traders have offered to buy the farmers' wheat but at far lower prices that barely cover the cost of production
Analysis
Growth likely to vary across regions and geographies
While the global economy has been slowing down, the picture looks very different across regions and geographies. This is based...
- While the global manufacturing PMI is still comfortably within expansionary territory, there are signs of a slowdown or even reversal of economic activity
- Nevertheless, different growth patterns can be observed across regions and geographies, a latest report by Qatar National Bank (QNB) has highlighted.
Saudi Arabia launches ‘National Semiconductor Hub’Â
At least 50 semiconductor design companies will be established in Saudi Arabia by 2030 after a new initiative was launched to develop...
Economy
Company News
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ACWA Power okays dividend
Business
India wants to use UAE expertise in smart cities: official
New Delhi, India - India wants to cooperate with the UAE in smart cities and technologies, President and CEO of the...
Economy
UAE president discusses boosting ties with president of Nigeria
Abu Dhabi, UAE-- UAE President Sheikh Mohamed bin Zayed and Nigerian President Bola Ahmed Tinubu discussed opportunities for further bilateral...
Economy
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Business
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...
- Trade between Iran and the US in January- July 2023 registered a 26 percent growth compared to the same period last year.
- Iran and the United States had traded US$24.7 million worth of non-oil products from January to July 2022.
Videos
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...
- This TRENDS Explainer Video explores how the Middle East is fueling its economy with renewables like solar, wind, and green hydrogen, catalyzing a global clean energy shift
- By 2030, solar energy is expected to make up 15 percent of the Middle East's power mix, while new wind projects in Oman, Egypt, and Saudi Arabia will generate local jobs
Economy
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...
- Saudi IPI retreated to 122.03 points in July, according to the base year 2010, compared to 135.23 points in the year-ago period.
- The decline in IPI is the largest since April 2021, when it recorded a drop of 24Â percent.