Iran becomes world’s ninth biggest steel producer, says WSA
TEHRAN, IRAN – The Middle Eastern country has improved its global standing in steel production, becoming the ninth largest producer...
Economy
China discovers world’s largest metamorphic rock oilfield in Bohai Sea
BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...
Business
Economy
UAE commits to lead disruptive growth of key industrial sectors at GMIS2021
GMIS2021 will convene over 45 UAE policymakers and industry leaders, alongside over 250 international speakers, to engage in 70 sessions...
- The summit will convene over 45 UAE policymakers and industry leaders, alongside over 250 international speakers, to engage in 70 sessions from November 22-27.
- The discussions at the summit will explore how data and connectivity are becoming the leading factors
Economy
France wants ‘new economic cooperation’ with UAE: French minister
Le Maire said that that the two countries will launch projects in renewable energy and hydrogen besides fighting climate change.
- Le Maire is on a two-day visit to the UAE to hold several high profile bilateral meetings with UAE officials
- The minister said that that the two countries will launch projects in renewable energy and hydrogen besides fighting climate change
Videos
Economic growth of Arab countries this year
This week’s TRENDS Explainer Video highlights how economic growth looks like in the Arab countries this year as per the...
- Middle Eastern countries responded to the pandemic with swift and stringent measures to mitigate its spread and impact. However, most of them continued to face an uncertain future
- Containing the health crisis, cushioning income losses, and expanding social spending had become immediate priorities. Most of the Arab governments, however, managed it well
Geostrategy
EU, GCC begin new era in relations
However, the recent developments show that Europe has shed this energy-supplier image of the Gulf for a more realistic and...
- Kuwait has emerged as a major global humanitarian player and a significant mediator to sort out inter-Gulf differences
- This has contributed to the re-evaluation by European Union leaders of their policies towards the Gulf region
Economy
Jordan, IMF reach staff-level pact on 3rd review under EFF
The agreement was concluded with an IMF team led by S. Ali Abbas, during a virtual discussion on the third...
- The agreement was concluded with an IMF team led by S. Ali Abbas, during a virtual discussion on the third review of the economic reform programme
- The Jordanian finance minister Al-Ississ stressed that the main issue for the government is to reduce unemployment rates and create job opportunities
Economy
Iranians protest against water crisis caused by dried-up river
"Thousands of people from Isfahan, farmers from the east and west of the province, have gathered in the dry Zayandeh...
- The massive protest was the biggest since demonstrations over the water crisis started on November 9
- The Iranian government has promised to come to the aid of farmers and resolve the crisis
Market Report
Dubai Index surges 80 percent, Saudi losses continue
Dubai index outperformed GCC peers, following the emirate's announcement of plans to open a $545 million market-making fund and IPOs...
- As of Thursday, Abu Dhabi's main index increased by 0.1 percent, aided by a 2.4 percent increase in Alpha Abu Dhabi Holding.
- Saudi index lost for the third consecutive week and Abu Dhabi was largely stable.
Economy
UN warns high shipping cost to spike global inflation by 1.5%
The UN Conference on Trade and Development (UNCTAD) has warned that the rising shipping prices could spike global inflation by...
- The current price to ship a 40-foot container unit from China to the US is now 348 percent higher than the pre-pandemic average
- The UN calculates that a global drive to vaccinate people against coronavirus can go a long way to ameliorate the current shipping crisis
Economy
$1.6bn Saudi initiatives to boost local manufacturing
Saudi Arabia has unveiled two initiatives to help the country boost its production and manufacturing.
- The National Industrial Development and Logistics Program has launched the initiatives along with the Riyad Bank
- The two schemes are called "We finance, you manufacture" and "We invest, you manufacture"
Economy
As Libya returns to democracy, urban Benghazi struggles
Libya’s second city Benghazi has mushroomed to twice its size, creating an unplanned and chaotic urban sprawl.
- The fighting in Libya has displaced countless families, forcing many to build new homes without permits
- This has led to a jumble of neighborhoods that often lack infrastructure, from proper roads to schools or sewerage systems
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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
Iran becomes world’s ninth biggest steel producer, says WSA
TEHRAN, IRAN – The Middle Eastern country has improved its global standing in steel production, becoming the ninth largest producer...
Economy
Company News
Pfizer Q1 profit at $5.5bn
Business
Latest News
East Pipes, Banque Saudi Fransi ink pact
Funds will be used to finance working capital for projects.
Business
Middle East firms pay fortune for employee burnout
A TRENDS exclusive report takes a hard look at how tens of thousands of white-collar workers in Middle East are...
Economy
Egypt annual inflation surges to record 36.8 percent in June
The Egyptian pound has lost half its value against the dollar since early last year, shooting prices upward and adding...
Most Read
Business
Dubai Transport Authority’s digital channels record 10% jump in 2022 revenues
Dubai, UAE-- Dubai's Roads and Transport Authority (RTA) has reported a 10 percent increase in revenues for 2022 to $953...
- RTA reported 814 million digital transactions up from 676 million in 2021, a 20 percent growth rate, in addition to a 30 percent jump in the number of registered users
- Mattar Al Tayer, Director-General of RTA, said that the company was going ahead with its digitization projects in order to increase its global competitiveness
Business
EU, New Zealand ink deal to enhance trade by 30 percent in a decade
The European Union and New Zealand signed a free trade agreement which Brussels says can lift exchanges between the two...
- New Zealand Prime Minister Chris Hipkins said it "will generate substantive new economic opportunities. It's of huge benefit to both partners."
- "New Zealand is a key partner for us in the Indo-Pacific region, and this free trade agreement will bring us even closer together," the EU chief said from Brussels.
Geostrategy
Pro-Iran parties urge Iraq to clear energy dues with Tehran
BAGHDAD, IRAQ - A powerful alliance of pro-Iran factions in Iraq called on Sunday on Baghdad to pressure the United States...
- Iraq, ravaged by decades of conflict and international sanctions, relies on gas imported from its eastern neighbor for a third of its energy needs.
- To reduce their dependence on Iranian gas, Iraq has been exploring several possibilities including imports from Gulf countries like Qatar.