Global markets rode AI, interest rate roller coaster in 2024
Paris, France - Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for Artificial Intelligence (AI),...
Economy
Cybersecurity in 2024: From talent shortages to resilience against emerging tech risks
In 2024, cybersecurity remained central, addressing skill gaps and the impact of generative AI. A Strategic Cybersecurity Talent Framework offered...
Global maritime trade sails into geopolitical storm
Most large international shipping companies have decided to reroute trading to avoid the Red Sea and Suez Canal through which...
- Maersk said Friday that it would divert all vessels around Africa instead of using the Red Sea for the "foreseeable future" after Yemeni rebels attacked its merchant ships
- Vessels are circumnavigating Africa via the Cape of Good Hope, which extends the journey between Asia and Europe by 10 to 20 days on average, said general manager of Ovrsea
Economy
‘Dubai reinforces global leadership in healthcare’
“Biomedical and health informatics professionals attending MedInfo 2027 will enjoy a world-class event in a thriving global city within close...
- Dubai successfully bids for World Congress of Medical Informatics (MedInfo) 2027.
- The emirate becomes first city in the MENA region to host this prestigious event.
Economy
UAE market cap soars as top 16 companies hit $734bn
Abu Dhabi, UAE - The aggregate market capitalization of the top 16 national companies listed on local exchanges stood at...
- The 16 listed companies accounted for about 74% of the total market capitalization of the local stock markets, which was around $998 billion at the close of trading
- The IHC held the top position with a market capitalization of more than $244 billion, approximately 24.5% of the local markets' capitalization
Economy
2024 set to see new era of digital transformation
The GCC region is on the brink of a major tech revolution, led by advancements in AI, fintech, and sustainable...
- The GCC region is on the brink of a major tech revolution, led by advancements in AI, fintech, and sustainable technology, UAE-based tech expert Dua Al Toobi tells TRENDS.
- Innovations are set to reshape the Gulf's economic and social landscape in 2024, marking a pivotal shift towards a knowledge-based economy, adds Al Toobi.
Economy
Eurozone inflation rises to 2.9% in Dec mainly due to energy costs
The data supports comments by European Central Bank (ECB) chief Christine Lagarde, who has warned that Europe should remain on...
- Energy prices in the eurozone fell in December, by 6.7 percent on an annual measure, but that was less than the 11.5 percent drop in November
- Among the 20 countries that use the euro, Belgium and Italy had the lowest inflation rate, reaching 0.5 percent in December
Economy
FAO says global food prices fell 13.7 percent in 2023
World food prices fell in 2023, with considerable declines for grains and oils as supply concerns eased, the UN's Food...
- Overall, world food commodity prices fell 13.7 percent in 2023 compared to the previous year, Rome-based FAO said.
- The vegetable oil price index posted the biggest fall last year, dropping 32.7 percent, thanks to improved supplies and reduced use for biofuel production.
Economy
Saudi insurance sector targets 25m beneficiaries by 2030
Riyadh, Saudi Arabia - Saudi Arabia saw an 18% surge in health insurance beneficiaries in 2022, reaching a total of...
- The expansion in the sector is largely propelled by the introduction of the mandatory health insurance for private sector workers and their dependents
- Saudi Arabia saw an 18% surge in health insurance beneficiaries in 2022, reaching a total of 11.5 million individuals by year-end
Economy
‘Major shifts are reshaping the Arab world’s future’
"Most of the global trends are positive if analyzed in terms of economic value. Countries have developed and lifted millions...
- Al Gergawi emphasizes the pivotal role of Gulf countries in shaping global agendas, from environmental discussions at COP28 to major events like the World Cup.
- He underlines the criticality of understanding the new global changes, including tech advancements, and the balance between positive global trends and challenges.
Business
Penguin, SkyBlue ink MoU
The aim is to redefine outdoor media advertising in Abu Dhabi.
- Penguin and SkyBlue will collaborate on key advertising locations, with this being the Malaysian firm’s first move into the Abu Dhabi market.
- This follows an agreement between the Malaysian outdoor advertising company with the Road and Transport Authority (RTA), Dubai.
Business
Dubai Duty Free achieves all-time record sales of over US$2.16bn in 2023
DUBAI, UAE - The New Year began on a high note for Dubai Duty Free with the announcement of an...
- December 2023 finished for Dubai Duty Free with record monthly sales of US$221 million, an 8.37 percent increase compared to 2022.
- It's 40th anniversary celebrations offered a 25 percent discount on December 20 which led to a shopping spree of $14.8 million in 24 hours.
Global markets rode AI, interest rate roller coaster in 2024
Paris, France - Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for Artificial Intelligence (AI),...
Economy
Company News
Geopolitical tensions boost oil, weigh on equities
Market Report
Latest News
Europe reverses course on interest rates, diverging from U.S. Fed policies
For much of the past two years, policymakers on both sides of the Atlantic raised interest rates aggressively to fight...
Economy
Business and leisure combo drives GCC tourism boom
Business travelers worldwide are drawn to the GCC countries due to their rapidly growing economies, strategic geographic locations, and ambitious...
Business
Despite sanctions, Iran oil exports hit six-year high: report
Tehran, Iran - Iran managed to sell an average of 1.56 million barrels per day during the first quarter of...
Economy
Most Read
From sand dunes to boardrooms: Strategies for success in challenging times
"Leadership teams must recognize that the livelihoods of their employees' families hinge on the stability of the business. Understanding that...
- When there is a significant decline in economic activity over a long period of time, retaining employees and attracting new talent also becomes difficult
- In smaller or medium-sized organizations, equipping your teams with the skills and knowledge to pivot products, services, and methodologies is crucial for instilling confidence
Economy
Low-pressure system eases over UAE: Dubai Airport delays remain
The Ministry of Interior has announced the end of the low-pressure weather system that wreaked havoc for many Dubai International...
- The UAE recorded its heaviest rainfall in the 75 years
- Dubai International Airport, a major travel hub, is barely functional
Economy
Equities sink, oil rallies on fears of Iran-Israel conflict
Stock markets fell and oil prices climbed Tuesday on growing fears of a wider war in the Middle East after...
- The selling came after Wall Street's three main indexes tanked
- Investors appeared to ignore figures showing China's economy grew 5.3 percent in Q1, 2024