China’s annual political conclave starts as economy sputters
Proceedings kick off Monday at 3:00 pm with the opening ceremony of China's People's Political Consultative Conference (CPPCC), which will...
Economy
Saudi labor market booms amid economic shifts
Employers in the Kingdom anticipate workforce expansions and salary hikes, though grappling with talent shortages and evolving work models, says...
Economy
Economy
Loubnany platform launches next month, will promote Lebanese economy
An online electronic platform named 'loubany', aimed at promoting Lebanon's economy and industry, will be launched in on 15 January...
- The platform spells out its vision as 'Lebanese production, creativity, innovation and competence to reach the four corners of the world'.
- The platform particularly addresses Lebanese Diaspora to support the Lebanese economic initiatives.
Economy
Iran to expand agricultural ties with European Union
“Iran intends to take advantage of the EU experience to improve agricultural commerce in Iranian villages with emphasis on women’s...
- “Iran intends to take advantage of the EU experience to improve agricultural commerce in Iranian villages with emphasis on women’s employment,” an Iranian official said
- Another priority for the ministry is designing and improving a national agricultural research plan, the official added
Economy
Oman revenues to rise 6% in 2022, with oil at $50
Oil and gas returns are set to comprise 68 percent of total revenues, against 32 percent for non-oil and gas...
- Preliminary indicators of Oman’s budget this year point to the possibility of achieving the lowest deficit since 2014, despite oil-price fluctuation
- The budget deficit in 2022, estimated on the basis of $50 a barrel, would stand at RO1.5 billion ($3.9 billion)
Economy
Thousands protest in Istanbul against worsening economic situation
More than 5,000 demonstrators gathered at the call of the main unions to protest against the deterioration of the value...
- More than 5,000 demonstrators gathered at the call of the main unions to protest against the deterioration of the value of the Turkish lira and the rate of inflation
- The inflation rate, according to official figures, reached 21.31 percent on an annual basis during November in Turkey
Economy
Jordan endorses tourism national strategy as pandemic abates
Nayef Fayez, tourism minister, said tourism in 2021 saw an improvement, especially in the second half of the year.
- Nayef Fayez, tourism minister, said tourism in 2021 saw an improvement, especially in the second half of the year
- Fayez highlighted the strategy to attract more tourists to the country was developed in partnership with the private sector
Geostrategy
Saudi Arabia eyes budget surplus after years of deficit
Total expenditures were budgeted at SAR955 billion, and revenues at SAR1.045 trillion, giving a surplus of SAR90 billion.
- The Saudi budget surplus projections come with higher global crude prices
- This is despite worries about the coronavirus variant Omicron that is spreading worldwide
Investigation
REVEALED: Billions of dollars missing from BDL
About US$7 billion is missing from Lebanese central bank’s 2020 balance sheet, data analysis by TRENDS suggests while highlighting weak...
- Some of the data sifted by TRENDS point to a US$7 billion scam involving the country’s central bank and the powerful individuals
- The poor and weak policies of Banque du Liban (BDL) may have facilitated a “Ponzi” scheme involving Eurobonds
Economy
Iran to cut oil output, prioritize defense in new budget
The 2022-2023 budget allocates about $5 billion to boost "defense capacities and strategic research", up from $4 billion the previous...
- Iranian news agencies reported that the draft, presented Sunday, projects GDP growth of eight percent.
- President Ebrahim Raisi submitted the draft to parliament for a vote expected by the end of 2021.
Videos
Reasons behind shortening UAE’s workweek
This week's TRENDS Explainer video tries to find the rationale behind curtailing the number of days in the UAE's workweek...
- The Gulf country is transitioning to a 4.5-day workweek. Now, weekends will consist of Friday afternoon, Saturday and Sunday
- The move makes the UAE the first nation to formalize a workweek shorter than five days. It also brings the country more in line with Western schedules
Economy
UAE makes color-coded nutritional labeling of food products voluntary
The UAE has made nutritional labeling of pre-packed products as traffic light colors voluntary, after amending a requirement that would...
- From Jan, manufacturers were required to provide a color-coded system of nutritional data in all pre-packed food products.
- An official says AED1.4 billion across the sector by removing the need to modify the labels currently in use or in storage.
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China’s annual political conclave starts as economy sputters
Proceedings kick off Monday at 3:00 pm with the opening ceremony of China's People's Political Consultative Conference (CPPCC), which will...
Economy
Company News
Aramco Q1 earnings take a hit
Business
Latest News
Modi’s visit: India, UAE sign pact to trade in local currencies
Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) and the Reserve Bank of India (RBI) on Saturday...
Economy
UAE, India join forces to bolster new economy sectors
"The Emirati-Indian economic cooperation is gaining increasing momentum in sectors of the circular economy, tourism, aviation, entrepreneurship, small and medium...
Economy
Most Read
Business
ADNOC in talks with OMV
Talk merger of shareholdings in Borouge, Borealis.
- Borouge is listed on the ADX with 54 percent owned by ADNOC.
- Borealis is owned 75 percent by OMV with ADNOC holding 25 percent.
Business
ADX grew 20 percent in 2022, says CBUAE
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE)’s Financial Stability Report for 2022 said the FTSE ADX...
- The Abu Dhabi Securities Exchange (ADX) trading value increased by 21.9 percent to AED 451 billion ($122.78bn)
- Foreign investment in ADX increased, with total net foreign investments recording an inflow of AED 24 billion ($6.53bn) in 2022
Business
UAE-India trade rose to US$384bn in 2013-22
ABU DHABI, UAE - The significant growth in the volume of non-oil trade between the UAE and India signifies the...
- CEPA will help deliver the target of reaching US$100 billion in non-oil trade annually over the next five years.
- During 2020-2022, non-oil trade between the UAE and India has grown from US$27.9 billion to US$51.4 billion last year.