Gold hovers near a month high on slowing US inflation
ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while...
Business
WTO agri reforms key to global food and climate goals
"Australia maintains that global food security, climate, and biodiversity targets are unattainable without progress in agricultural trade reform, including the...
Economy
Business
UAE rich reset life goals after Corona but find confidence shaky: Survey
About 88 percent of the affluent people in the UAE have reset their life goals following the Corona pandemic, and...
- The 'confidence gap' is more pronounced among the emerging affluent, according to Standard Chartered survey.
- Volatility in financial markets and fear of poor returns on investments are the major causes of low confidence.
Videos
Trade balance of key Arab countries in 2020
This week's TRENDS Explainer Video focuses on top Arab economies in terms of trade balance in the year 2020.
- One of the best ways to judge the strength of a country's economy is to look at its trade balance, or the difference between exports and imports
- If exports surpass imports, the trade balance is surplus. If imports surpass exports, the trade balance is deficit
Economy
Tunisian town up in arms against trash
As tear gas and protest cries filled the air in the Tunisian city of Agareb, Mabrouka Ben Ibrahim vowed to...
- Yousra, 21, died in 2019 after being bitten by a mosquito that came from the toxic trash site, Ben Ibrahim said
- Residents say rubbish dumped at the site, including dangerous industrial and medical refuse, has caused a string of diseases from cancer to vision problems and infertility
Economy
Drought forces Iraqi farmers to leave their land
Iraqi wheat farmer Khamis Ahmad Abbas lost it all when his battle with drought forced him to abandon his land,...
- Experts have warned that record low rainfall, compounded by climate change, are threatening social and economic disaster in war-scarred Iraq
- This year, Nineveh province has been Iraq's "most affected" by drought and exceptionally high temperatures
Economy
Egypt questions new desert capital and its costs
Egypt President Abdel Fattah al-Sisi is building a new capital, whose construction costs are already under a microscope.
- The city, on the outskirts of Cairo, is forecast to cost around $45 billion, and is roughly the size of Singapore
- The construction costs have raised questions about spending priorities in a country where one in three people live in poverty
Geostrategy
Deal but no deal: COP26 adds to climate confusion
Rich countries stand accused of failing at the COP26 summit in Glasgow to deliver much-needed finance to vulnerable states at...
- Rich countries accused of failing to deliver much-needed finance to vulnerable states at risk of drought, rising seas, fire and storms
- The European Commission said the deal has "kept the Paris targets alive".
Economy
Libya polls ‘essential next step’ to peace: UN chief
Libya has seen several political and security crises since Muammar Gadaffi was overthrown a decade ago.
- UN Secretary-General António Guterres has urged national unity in Libya
- He has also called for people to overcome differences ahead of landmark presidential and parliamentary elections next month
Economy
Covid-19, conflict and costs pushing Syria beyond limits: WFP
World Food Program Executive Director David Beasley has warned that more people in Syria are in the grips of hunger...
- Some 12.4 million people — almost 60 percent of the population — apparently do not know where their next meal will come from
- This is said to be a 57 percent increase since 2019 and the highest number ever recorded in the history of Syria
Economy
Oil-exporter UAE accepts future is not oil: US delegation
UAE officials "recognise reality", delegation member and House of Representatives Majority Leader Steny Hoyer said after talks with Dubai ruler...
- Both the UAE and Saudi Arabia, the number one oil exporter, have announced net zero carbon goals
- Hoyer said the UAE's hosting of COP28 in 2023 shows it is committed to clean energy
Economy
Lebanon is failing its people, says UN envoy
Lebanon's government, formed in September, has yet to take serious action to stop its downward spiral.
- The price of essential foodstuffs has almost quadrupled in just one year, according to latest data from the Lebanese government
- Inflation rate averaged 131.9 percent over the first six months of 2021, the World Bank has said
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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
Gold hovers near a month high on slowing US inflation
ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while...
Business
Company News
Latest News
AI ‘disrupts economy’ but Middle East optimistic
The Boston Consulting Group survey found that 58 percent of Middle East employees, managers, and leaders believe that AI will...
Economy
Kuwait 2023-24 draft budget estimates $22.2 billion deficit
Lower oil prices and volumes attributed to the estimated deficit, according to a newspaper report. MP Osama Al-Zaid said the...
Economy
Most Read
Business
East Pipes, Banque Saudi Fransi ink pact
Funds will be used to finance working capital for projects.
- The agreement is worth US$293 million (SAR 1.1 billion).
- A promissory note of $306 million was provided to guarantee the credit facility.
Economy
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...
- It is estimated that businesses in the Middle East suffer a loss of $100 billion every year on account of mental health challenges due to lost working hours
- It has also been found that only 15 percent of white-collar workers across the MENA region have access to professional mental health resources
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...
- The previous record of 34.2 percent in July 2017 came, as it does now, following a sharp currency devaluation connected to a bailout loan from the International Monetary Fund
- Official data had shown skyrocketing inflation appearing to ease in the past few months, before food and drink prices alone registered a 64.9 percent increase compared to June 2022