Building the New Creative Engine of the Knowledge Economy: Mark Penn
Mark Penn, Chairman and CEO of Stagwell, explains how AI and global tech partnerships are reshaping marketing and the GCC’s...
Economy
Oil prices gain, as equities extend record run higher
Oil prices have experienced choppy trading since the surprise US raid Saturday on Caracas that saw Venezuelan president Nicolas Maduro...
Business
Geostrategy
Saudi Arabia to donate US$40m for UN agency in Gaza
The funds, according to the King Salman Humanitarian Aid and Relief Centre (KSrelief), would support UNRWA's "humanitarian relief efforts in...
- Israel accused some of UNRWA's employees of involvement in the October 7 Hamas attack
- The UN has said that Israel has not provided it with any evidence for the allegations
Economy
Gulf nations transition from oil to solar powerhouses
The Gulf region is embracing the future of energy by investing in polysilicon production, crucial for solar panel manufacturing, with...
- The Gulf region is embracing the future of energy by investing in polysilicon production, crucial for solar panel manufacturing.
- With Qatar leading by example and Saudi Arabia set to follow, these moves signify a key shift towards renewable energy sources.
Economy
Cash-strapped Pakistan gets draft approval for $1.1 bn IMF payout
Islamabad, Pakistan - Pakistan reached a tentative deal to unlock a $1.1 billion tranche of an International Monetary Fund (IMF) bailout...
- Last summer, cash-strapped Pakistan sketched a $3 billion deal with the IMF as it battled a balance-of-payments crisis which brought it to the brink of default.
- After six days of talks in Islamabad, concluding Tuesday, the IMF said officials had reached a "staff-level agreement" to pay out the latest portion of the deal.
Economy
UK inflation slows to lowest level since September 2021
ONS chief economist Grant Fitzner said "food prices were the main driver of the fall, with prices almost unchanged this...
- Inflation reached 3.4 percent last month - the lowest level since September 2021 - after hitting 4.0 percent in January, according to the Office for National Statistics
- The BoE is widely expected to keep its main interest rate on hold in an announcement due Thursday following its latest regular monetary policy meeting
Economy
Dubai job hunt: Tips for success in the city of opportunity
Dubai, UAE - The UAE was recognized as the top destination for international professionals seeking employment visas. According to the...
- Dubai, as a cosmopolitan, sophisticated, and luxurious city, becomes a magnet not only for highly skilled talents but also for young professionals
- The city offers unique opportunities for professional advancement, as it hosts major international corporations and continuously nurtures progressive startups
Date palm cultivation in AlUla sees increased productivity
AlUla, Saudi Arabia - Date palm cultivation in AlUla governorate has witnessed a significant increase in productivity this year, with...
- The governorate boasts more than 2 million date palm trees, and the Royal Commission for AlUla (RCU) is actively engaged in expanding the tree count
- AlUla plans to support farmers and enhance the value of dates by organizing festivals and markets that enable farmers to sell and export their products
Science
Google’s new AI for corner kick tactics gets Liverpool approval
PARIS, FRANCE – Liverpool football analysts have given their seal of approval to a new artificial intelligence tool from Google that...
- Many clubs across the world already deploy experts to comb through video and data to carefully plan corner kick scenarios ahead of matches.
- Google DeepMind, the AI arm of the US tech giant, also targeted corners for its new TacticAI system in research.
Business
UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...
- This robust financial footprint positions the UAE as a significant economic force with strong potential for continued expansion.
- The focus on emerging markets and the creation of strategic partnerships further amplifies this momentum.
Economy
Oman issues Treasury Bills worth US$181m this week
MUSCAT, OMAN – The Central Bank of Oman (CBO) has announced that the total issuance of Treasury Bills amounted to...
- The value of the allotted Treasury Bills amounts to US$12.9 million for a maturity period of 28 days.
- The value of the allotted Treasury Bills amounts to US$74 million for a maturity period of 91 days.
UAE announces monthly allowance of 50% of basic salary for imams, muezzins
Abu Dhabi, UAE - United Arab Emirates has announced a provision of a monthly financial allowance equivalent to 50 percent...
- Dr. Omar Habtoor Al Darei, Chairman of GAIAE, noted that this initiative is a gesture of appreciation from the President
- Imams and muezzins, he added, diligently uphold a conducive environment of worship and serenity
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Building the New Creative Engine of the Knowledge Economy: Mark Penn
Mark Penn, Chairman and CEO of Stagwell, explains how AI and global tech partnerships are reshaping marketing and the GCC’s...
Economy
Company News
Latest News
Qatar to expand scheme to boost Syria power supply
Qatar is to expand its scheme to boost the power supply in Syria by paying for deliveries of Azerbaijani gas...
Economy
World economies reel from Trump’s tariffs
The tariffs are a demonstration of raw economic power that Trump sees putting US exporters in a stronger position while...
Economy
Trump’s global trade policy faces test, hours from tariff deadline
The last-gasp scramble to strike bilateral accords came as an appeals court in Washington considered the legality behind Trump's strategy...
Economy
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Business
Microsoft valuation surges above $4 trillion as AI lifts stocks
Shares of Microsoft vaulted 5.3 percent after it reported $27.2 billion in quarterly profits as it touted massive investments in...
- About 25 minutes into trading, the tech-rich Nasdaq Composite Index was up 1.3 percent at 21,396.04.
- The gains came as President Donald Trump announced a trade deal with South Korea that imposes a 15 percent tariff on imports from the Asian country.
Economy
Trump hits India with 25% tariff and ‘penalty’ over Russia ties
US President Donald Trump said Wednesday that imports from India will face 25 percent tariffs, while also announcing an unspecified...
- The measures will kick in on Friday, Trump posted on his Truth Social platform, adding to a bevy of other tariff hikes -- some up to 50 percent -- set to take effect the same day
- He had previously issued multiple delays to his so-called "reciprocal" tariffs since first announcing them in early April, while instituting an interim 10 percent baseline
Economy
IMF lifts 2025 global growth forecast on ‘fragile’ easing in trade tensions
Looking ahead, the IMF expects the world economy to expand 3.1 percent next year, an improvement from the 3.0 percent...
- Despite the upward revisions, "there are reasons to be very cautious," IMF chief economist Pierre-Olivier Gourinchas told AFP.
- "Businesses were trying to frontload, move stuff around, before the tariffs were imposed, and so that's supporting economic activity," he said.