Kuwait approves new government amid political crisis
Kuwait's emir approved a new cabinet Sunday two days after he dissolved the parliament elected only weeks earlier, and he...
Economy
Stablecoins and DeFi drive crypto market’s renewed growth: report
The "2024 Crypto Spring Report" highlights the resurgence of the cryptocurrency market, fueled by institutional adoption, stablecoins, DeFi, signaling a...
Economy
Geostrategy
Countries hand motion censuring Iran to IAEA
The United States, Britain, France and Germany have submitted a motion to the UN atomic energy watchdog to censure Iran...
- It is a sign of growing Western impatience after talks to revive the 2015 landmark nuclear accord with Iran stalled in March
- The vote on the motion is likely to happen on Wednesday or Thursday but Russia refused to be associated with the resolution
Geostrategy
Protesters end blockade as East Sudan governor resigns
A coalition of tribes in East Sudan announced on Tuesday the end of a sit-in which blocked roads to the...
- Beja tribes of Sudan ended their sit-in protest against a 2020 peace deal which they demanded to be scrapped as the Red Sea state governor resigned
- Army chief called the upcoming meeting with civilian groups a "historic opportunity" but the civilians have refused to take part
Arts & Culture
Widening cultural offerings add to Dubai’s growth
Alternative cinematic content is helping the emirate's creative economy diversify and contribute to its GDP, Butheina Hamed Kazim, Founder and...
- Alternative cinematic content is helping the emirate's creative economy diversify and contribute to its GDP, Butheina Hamed Kazim, Founder and MD of Cinema Akil tells TRENDS
- The Dubai Creative Economy Strategy seeks to raise the economic contribution of the creative economy to 5 percent of the emirate’s GDP by 2025
Business
Wall Street stocks down as World Bank lowers global growth outlook
Wall Street stocks fell early Tuesday as the World Bank slashed its global growth outlook and Target warned of lower...
- The World Bank cut its growth estimate for the global economy to 2.9 percent, 1.2 percentage points below the January forecast.
- The broad-based S&P 500 fell 0.5 percent to 4,100.91, while the tech-rich Nasdaq Composite Index also declined 0.5 percent.
Economy
Saudi GDP up nearly 10 percent in Q1 on oil activities
The Gross Domestic Product (GDP) of Saudi Arabia grew by 9.9 percent in Q1 of 2022 compared to Q1 of...
- The GDP Report for Q1 2022 was released by the General Authority for Statistics (GASTAT).
- The growth in Saudi's GDP is due to a surge in oil activities by 20.3% in Q1 2022 compared to Q1 2021.
Economy
GCC economies to grow by 5.9% in 2022: World Bank
The current rebound is due mainly to strong growth in oil exporters boosted by rising oil revenues and a general...
- In Saudi Arabia, strong oil production growth and a robust recovery in the non-oil sector is expected to drive
- The United Arab Emirates should also benefit in the near term from rising oil prices
Business
Masdar City, DANA to develop beta site for agritech
Masdar City, DANA, beta site, agritech, pilot projects, greenhouses, net houses, open field farming, water scarcity, irrigation, greenhouse cooling, soil...
- Masdar City, DANA sign MoU to help contribute to agritech sustainability
- MoU to help UAE in meeting objectives as per National Food Security Strategy 2051
Boris Johnson survives no-confidence vote by 211/148
The vote just over two years after he won a landslide general election victory was brought after a string of...
- The vote just over two years after he won a landslide general election victory was brought after a string of scandals that have left the Tory party's standing in tatters
- Chief among them was the "Partygate" controversy over lockdown-breaking events at Downing Street, which caused public outrage
Business
Nasdaq Dubai welcomes US$ 3.25bn Indonesian Sukuk listings
The two tranches comprise US$ 1.75bn five-year Trust Certificates with a 4.40% yield and US$ 1.5 billion 10-year Trust Certificates...
- The two tranches comprise US$ 1.75bn five-year Trust Certificates with a 4.40% yield and US$ 1.5 billion 10-year Trust Certificates with a 4.70% yield
- The listings further strengthened Dubai’s position as one of the largest centers for Sukuk listings globally, with a total listed value of US$ 80.9 billion
Economy
Egypt’s net foreign reserves at $35.5bn by May end
The Central Bank of Egypt said that the net cash reserve balance covers five months of commodity imports
- The Central Bank of Egypt said that the net cash reserve balance covers five months of commodity imports
- Foreign currencies in Egypt’s foreign reserves include the U.S. dollar, euro, Australian dollar, Japanese yen and Chinese yuan
Kuwait approves new government amid political crisis
Kuwait's emir approved a new cabinet Sunday two days after he dissolved the parliament elected only weeks earlier, and he...
Economy
Company News
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Qatar real estate trading crosses $143m in August 27-31 2023
DOHA, QATAR - The volume of real estate trading in non-residential sales contracts at the Department of Real Estate Registration...
Business
Saudi crown prince says ready for economic partnership with BRICS
DUBAI, UAE – Saudi Arabian Crown Prince Mohammed bin Salman in a telephonic conversation with Russian President Vladimir Putin has...
Geostrategy
US Treasury pushing to increase IMF funding by raising quota obligations
The comments from Jay Shambaugh, the Treasury's under secretary for international affairs, underscore the Biden administration's push for the IMF...
Economy
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Business
EIH acquires stake in 9Yards Comm
The acquisition aims to broaden EIH's investment portfolio.
- EIH has cultivated a diversified, innovative and sustainable investment portfolio comprising over 40 successful companies across various sectors.
- 9Yards Communications has a broad client portfolio encompassing government entities and private organizations both domestically and internationally.
Economy
$341bn in non-oil trade between UAE, G20 countries: UAE Minister
New Delhi, India - The non-oil trade between the UAE and G20 countries in 2022 hit $341 billion, which is...
- G20 countries are the UAE's largest trading partners, accounting for 43% of its non-oil exports, 39% of e-exports, and 67% of imports, the minister said
- He noted that the UAE's non-oil trade with the G20 countries grew significantly in 2022, up 56% from 2020 and 34% from 2019
Economy
Saudi non-oil activities push Q2 economic growth to 1.2%
Riyadh, Saudi Arabia -- Saudi Arabia’s real GDP grew by 1.2 percent in the second quarter of 2023, compared to...
- A GASTAT report showed a 6.1% increase in non-oil activities over 2022, a 2.3% increase in government activities over 2022, and a 4.3% decrease in oil activities.
- According to the report, seasonally adjusted real GDP decreased by 0.2 percent in Q2 of 2023 compared to the Q1 of 2023.