Geopolitical tensions boost oil, weigh on equities
Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...
Market Report
IMF chief calls upon China to boost growth with pro-market reforms
BEIJING, CHINA – The head of the International Monetary Fund on Sunday called on China to implement "a comprehensive package of...
Economy
Analysis
Metaverse: Opportunities vs challenges
New business models must be developed to take advantage of the metaverse's technology, says Fadi Kassatly, Partner, Enterprise Systems and...
- By 2026, about 25 percent of internet users would spend at least an hour a day in the metaverse and 30 percent of organizations would use it to distribute their products.
- Because of the metaverse, companies can now imagine new stakeholder engagements that include interactions and create value faster, realistically and with more significant impact.
Business
SMEs across GCC need more decentralized approach
The companies must also strive for more delegated authority and accountability as delays and poor follow-up lead to disaster, says...
- The firms must strive for more delegated authority and accountability as delays and poor follow-up lead to disaster, says Rabih I Khoury, Partner & Chief Exit Officer, MEVP
- Also needed is the use of technology to facilitate communication and digital processes implementation and leverage mature SaaS functionalities through mobile apps, he says
Economy
Russian embargo won’t result in global oil dearth : IEA
The IEA said "steadily rising" output from the United States and Middle Eastern members of the OPEC+ oil cartel will...
- The IEA had previously warned that Moscow's invasion of Ukraine could spark a global supply "shock".
- World oil demand growth, meanwhile, is forecast to slow to 1.9 million barrels per day in the second quarter.
Business
Russian gas to Europe via Ukraine down by almost a third
Ukraine is a major supply route for Russian gas to Europe and the two sides have kept flows going even...
- Ukraine's pipeline operator GTSOU said that it was halting gas transport at the Sokhranivka transit point
- Germany said Wednesday that it saw a 25 percent drop in supplies of Russian gas flowing through Ukraine
Business
Scarce French rainfall adds new cloud to global food market
World food prices hit an all-time high in March following Russia's invasion of Ukraine, which accounted for 20 percent of...
- France is Europe's agricultural powerhouse, the biggest grain producer in the 27-country bloc
- The national weather service said France was in the grip of a hot spell with 20% less rainfall reported
Economy
Lebanon jobless rate almost triples since crippling economic crisis
The official unemployment rate in crisis-hit Lebanon jumped almost three-fold to reach 29.6 percent at the start of the year,...
- After years of corrupt practices and financial mismanagement, Lebanon's economy collapsed two years ago, stripping the national currency of 95 percent of its value.
- The issue of unemployment has not featured prominently in the campaigns led by the main parties fielding candidates in Sunday's parliamentary election.
Economy
How will Lebanon vote impact the crisis-hit economy?
Here’s a look at the challenges that await incoming lawmakers in a country where there is little consensus on a...
- Starved of hydrocarbons, Lebanon’s power stations have scaled down operations to a near minimum
- Power cuts can last up to 23 hours a day, forcing residents to rely on expensive private generators
Geostrategy
Syrian refugees in Turkey: Political tool in crisis times
With the lira's value tumbles to historic lows and annual inflation runs at nearly 70 percent, the refugee question regularly...
- Political parties in Turkey spar over sending 3.7 million Syrian refugees back to their war-torn homeland while the refugees have no appetite to return
- Majority of the Syrian refugees have settled in Turkish society since 2012, and only 1 percent live in the shelter camps built for those who escaped civil war
Economy
UK gives visa waiver to Saudi Arabia, Bahrain
The UK Home Office affirmed that “an electronic visa waiver allows the holder to travel to the UK without obtaining...
- The UK Home Office affirmed that “an electronic visa waiver allows the holder to travel to the UK without obtaining a visa provided they complete an online waiver for each visit
- UK Home Secretary Priti Patel said that the visa waiver for Bahrain and Saudi Arabia will better connect the people of our countries and boost economic prosperity
Economy
Oman-India Joint Commission to discuss Free Trade Agreement with GCC
A meeting of the Oman-India Joint Business Council, under the umbrella of the Federation of Indian Chambers of Commerce and...
- A meeting of the Oman-India Joint Business Council, under the umbrella of the Federation of Indian Chambers of Commerce and Industry and the Oman Chamber will be held Friday
- At this meeting, ministers from both sides will interact with the business communities, the Indian Ministry of Commerce and Industry said
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Geopolitical tensions boost oil, weigh on equities
Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...
Market Report
Company News
Latest News
Siemens to expand business
Business
COP28 to help green transition in developing nations
"International reports indicate that the countries in the Middle East and North Africa region are most vulnerable to climate change...
Economy
Space Economy: Saudi Arabia targets stars and beyond
From the establishment of the Saudi Space Authority to Serco Middle East's new space division in Riyadh, the Kingdom is...
Economy
Joint Jordanian-Yemeni Business Council to resume activities, says JCC
AMMAN, JORDAN - President of the Jordan Chamber of Commerce (JCC) Khalil Al-Haj Tawfiq on Saturday discussed with Director General...
Business
Most Read
Economy
Saudi Arabia’s foreign trade rises to $172bn in a year
Riyadh, Saudi Arabia - Saudi Arabia’s foreign trade soared to $172 billion last year, the Saudi Minister of Commerce and...
- The volume of non-oil exports witnessed a 40% growth between 2018 and 2022 reaching a total of $28.7 billion
- The Saudi Export-Import Bank played a vital role by providing loans amounting to $4.6 billion
Economy
Jordan secures US$1.9bn in foreign aid amid dire global economic conditions
Amman, Jordan--Jordan has succeeded in securing US$1.9 billion in foreign aid and negotiations are underway to ramp it to $3.2...
- Speaking at a forum, Jordan's minister of planning spoke of the kingdom's financial landscape and how it interacted with global economic trends
- The minister also underscored the kingdom's collaboration with international financing entities that offer affordable funding to Jordan's private sector
Arts & Culture
Saudi Arabia’s archeologists make ‘significant’ discoveries at Al Abla site
Riyadh, Saudi Arabia--Saudi Arabia's Heritage Commission has announced significant discoveries made at the Al-Abla site in Asir region during the...
- The archeologists discovered features of residential and industrial units with gypsum-coated walls and floors
- They found hammerstones, grinders, and pairs of quern stones in various sizes and forms, and shards of pottery