Six Middle East cafés feature in the world’s 100 best coffee shops 2026 list
Six coffee shops from the Middle East have secured places in The World’s 100 Best Coffee Shops 2026 list, highlighting...
Business
UAE is shifting from attracting talent to unleashing it: Sheraa vice-chairperson
With national campaigns such as The Emirates: The Startup Capital of the World setting targets of training 10,000 Emiratis and...
Interview
Economy
‘UAE offers an economic model for all to emulate’
"This underscores our role in fostering development and regional and global cooperation, aiming to provide an economic model for all...
- UAE minister Sheikh Nahyan bin Mubarak Al Nahyan highlights economic prosperity and global integration in Dubai.
- Attended by more than 600 economic leaders, the event serves as a platform for investment and trade enhancement.
Economy
UAE banking sector looks poised for continued growth in 2024
Abu Dhabi, UAE--The UAE banking sector continued its growth momentum last year and is poised for further growth and recovery...
- The indicators of rising assets, financing and capital adequacy ratios reflect the sector's flexibility and resilience to adapt to the changes the world is witnessing
- At the end of December 2023, total deposits of resident and non-resident customers with banks operating in the UAE rose by 4.2% and annually by 13.5% ), reaching $686bn
Geostrategy
Iran signs big contracts to increase oil production
Iran sealed contracts worth billions of dollars with domestic companies to boost its oil production in the face of Western...
- Iranian Oil Minister Javad Owji had said that oil production would reach 3.6 million barrels per day by the end of the Persian year on March 19.
- Iran's oil sector suffered a blow in 2018 when Western sanctions were reimposed, forcing foreign companies to leave the country,
Economy
Middle East leads way in global methane mitigation
The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....
- The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming. say an IEA report.
- With Saudi Arabia and UAE leading by example through low emissions intensities , the region is setting new benchmarks in environmental stewardship.
Business
Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...
- The Saudi delegation held meetings with teams from Canada, the Czech Republic and Ecuador.
- These are part of the 85 meetings they will hold with officials of countries and global firms participating in the event.
Economy
S&P affirms Saudi Arabia’s A/A-1Â credit rating
Riyadh, Saudi Arabia - The international credit rating agency S&P Global Rating affirmed its foreign and local currency sovereign credit...
- The agency indicated in its report that this rating affirmation is a result of the continuation of the Kingdom's economic and social reform agenda
- The agency forecasted GDP growth to average 3.3% in the medium term, due to the acceleration in non-oil sector investment and robust consumption in the Kingdom
Economy
Saudi Arabia grapples with over 1 million tons of annual vegetable waste
Riyadh, Saudi Arabia - Saudi Arabia faces substantial annual losses in its agricultural sector, including 234,000 tons of tomatoes and...
- The kingdom has called for collaborative efforts to promote responsible consumption practices and reduce waste
- It has urged efficient vegetable usage and storage to minimize loss and contribute to a more sustainable food system
Economy
Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023
RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
- This translates to a non-oil economy valued at US$$453 billion (SAR1.7 trillion) at constant prices.
- Non-oil economy is valued at $$453 billion at constant prices, fueled by growth in investment, consumer spending and exports.
Iran’s aluminum ingot output up 7% in Feb 2024
Tehran, Iran - Iran’s production of aluminum ingot in the country registered a 7% growth in the first 11th month...
- Iran’s four major aluminum production companies produced 54,893 tons of aluminum ingots in February 2024
- The Iran Alumina Company produced more than 537,000 tons of bauxite from March 21, 2023, to February 22, 2024
Economy
Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...
- The cost-of-living index for February rose to 110.64 points, according to the base year 2018, from 108.67 points in the same month a year earlier.
- Inflation is measured by the percentage change in the cost of living between the current period and the corresponding period of the previous year.
Six Middle East cafés feature in the world’s 100 best coffee shops 2026 list
Six coffee shops from the Middle East have secured places in The World’s 100 Best Coffee Shops 2026 list, highlighting...
Business
Company News
Latest News
Oil prices rise ahead of US-Russia summit as stocks digest inflation data
New York, United States - Wall Street stocks finished little changed Thursday as markets absorbed a disappointing inflation report, while...
Economy
Stocks diverge as bitcoin hits record high
Bitcoin hit a new peak at $124,514.59 in Asian trading, before cooling to around $121,500. The world's biggest cryptocurrency is...
Business
Dubai GDP grows by 4 percent to reach $32.58 billion in first quarter of 2025
Human Health and Social Work activities registered the highest growth rate, rising 26 percent compared to the same period last...
Economy
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Economy
Plastic pollution treaty talks in disarray as dozens of countries reject draft text
Geneva, Switzerland - Attempts to finalise a landmark treaty combating plastic pollution descended into disarray on the penultimate day on...
- With some 30 hours left to seal a deal among the 184 countries gathered at the United Nations in Geneva, states lined up to slam the text proposed by Luis Vayas Valdivieso
- Five previous rounds over the past two and a half years failed to seal an agreement, including a supposedly final round in South Korea late last year
Economy
Most markets rise as China-US tariff truce extended, US inflation data in focus
In an executive order, the White House reiterated its position that there are "large and persistent annual US goods trade...
- Donald Trump's widely expected trade announcement avoids the reimposition of sky-high levies and allows officials from Washington and Beijing to continue talking into November
- the White House reiterated its position that there are "large and persistent annual US goods trade deficits" and they "constitute an unusual and extraordinary threat."
Economy
Trump says to move homeless people ‘far’ from Washington
President Donald Trump said Sunday that homeless people must be moved "far" from Washington, after days of musing about taking...
- The Republican billionaire has announced a press conference for Monday in which he is expected to reveal his plans for Washington
- "I'm going to make our Capital safer and more beautiful than it ever was before," the president posted on his Truth Social platform Sunday