ECB to cut rates again amid bleak eurozone outlook
The European Central Bank is expected to cut interest rates again this week amid a darkening outlook, with political turbulence...
Desertification talks open in Saudi Arabia as experts fire warning
UN talks aimed at halting the degradation and desertification of vast swathes of land start in Saudi Arabia. Forest loss...
What are the needs and challenges of an ageing workforce?
Age bias in the world of work is real. But it is more complex and nuanced than the common narrative...
- Age bias in the world of work is real, but it is more complex and nuanced than the common narrative around ageism.
- These hidden struggles, coupled with a higher rate of rejection than among other applicant pools, can trigger a dangerous descent into a resignation mindset
Economy
Residential, hospitality sectors drive Saudi Arabia’s real estate market in H1 2024
The Kingdom’s tourism and entertainment investments, including a new star rating system, support growth in hospitality, positioning Saudi Arabia as...
- Residential sale prices experienced 10% year-on-year increase in H1 in Riyadh and average rents grew by 9% annually
- In Jeddah, the pace of growth was slightly slower, with sale prices rising by 5% and rents increasing by 4% year-on-year during the same period
Economy
Stocks firm, dollar subdued as market flirts with outsized Fed cut
Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start...
- Futures imply 59% chance of outsized Fed rate cut
- Policy makers project 100 basis points of cuts this year and 150 basis points for 2025
Economy
Standard & Poor’s affirms Saudi Arabia’s ‘A/A-1’ credit rating
Riyadh, Saudi Arabia – Standard & Poor's (S&P) affirmed the Kingdom's credit rating in local and foreign currency at "A/A-1"...
- S&P explained that its affirmation of the Kingdom's strong credit rating results from the Kingdom's reforms and investments
- It expected that the Kingdom's gross domestic product (GDP) will continue to grow during the years 2024-2027
Economy
Central & Southern Asia and Oceania region leads the world in cryptocurrency adoption
The fifth annual Chainalysis Global Crypto Adoption Index looks at both on- and off-chain data to determine which countries are...
- This year, crypto activity increased across countries of all income brackets
- Central & Southern Asia and Oceania accounted for over $750 billion in crypto asset inflows
Economy
ECB set to cut interest rates before the Fed’s big decision next week
The European Central Bank on Thursday is set to slash rates again by 25 basis points just days ahead of...
- In July, the ECB left interest rates unchanged in a unanimous vote following June’s landmark cut
- Headline inflation in the EURO hit a three-year low in August with a reading of 2.2%
AI adoption in GCC surges as governments and the private sector embrace technology
With 93% of Saudi workers considering generative AI essential, alongside 95% in the Middle East and 79% globally, the region's...
- 68% of Saudi workers use generative AI weekly, compared to 55% globally, while an overwhelming 93% consider it an essential tool at work
- The New York Times reported that representatives from Saudi Arabia's PIF have discussed potential partnerships with leading Silicon Valley venture capital
Business
Saudi surpasses Vision 2030 tourism target, says IMF report
Tourism is a major contributor to the Kingdom's economic diversification efforts, the IMF notes in its 2024 Article IV Consultation...
- The sector's direct and indirect contribution to GDP reached 11.5 percent in 2023, with expectations to grow to 16 percent by 2034.
- Central to this growth has been a combination of strong domestic demand and increased international arrivals.
Economy
Domestic worker visa applications in UAE up 66% in June 2024, says a report
The UAE, relying on domestic workers (5% of the population), invests $3 billion annually, highlighting the rising demand for domestic...
- A domestic worker visa allows individuals to continue working in private households as cleaners, chauffeurs, cooks, nannies, or personal care providers while travelling
- The growth is driven by the UAE’s robust economy, with increasing disposable income among families and a growing expatriate population
Business
China’s Xi promises US$50 billion for Africa over next three years
China, the world's number two economy, is Africa's largest trading partner
- More than 50 African leaders and UN Secretary-General Antonio Guterres are attending the China-Africa forum
- "Over the next three years, the Chinese government is willing to provide financial support amounting to US$50.7 billion," Xi said
ECB to cut rates again amid bleak eurozone outlook
The European Central Bank is expected to cut interest rates again this week amid a darkening outlook, with political turbulence...
Company News
Latest News
COP29 opens with Trump climate withdrawal looming
he COP29 climate talks open Monday in Azerbaijan, under the long shadow cast by Donald Trump's re-election. Trump has pledged...
Economy
UAE stablecoin usage up 55% yoy as new regulations drive market momentum
Stablecoins account for the largest share of crypto activity in the UAE (51%), which stands significantly higher than both Bitcoin...
Economy
Low carbon investments in arrears of climate needs
Upstream investments in the oil and gas industry are still healthy and dwarf those made in low carbon projects and...
Economy
Most Read
Economy
Eight OPEC+ members extend oil supply cuts until year end
Supply cuts seek boosting oil prices amid uncertain demand and accelerating supply, with an eye on the imminent US presidential...
- Persistent downside pressure on oil prices due to sluggish Chinese and weakening global demand outlook
- "The US presidential election will have a significant impact on the oil market"- Analyst with Rystad Energy
Economy
Expected impact of the U.S. election on businessÂ
35 percent of CEOs worldwide identify #inflation as the most critical #economic issue facing their countries, followed by boosting #consumer...
- The majority of CEOs (77 percent) say the U.S. presidential election will impact their 2025 business strategy
- Nearly 80 percent of global CEOs describe the current investment environment in the Gulf as very or somewhat attractive
Bitcoin close to record as cautious markets eye US election
The surge in the price of bitcoin is seen as a bet on a Republican victory, as Donald Trump has...
- The leading digital currency was trading around US$72,400 at 0300 GMT, after climbing as high as US$73,563.63 in late US trade.
- The surge in the price of bitcoin is seen as a bet on a Republican victory, as Donald Trump has emerged as the pro-crypto candidate.