Startups need more than funding: they need an ecosystem
Drew Propson, Head of Technology and Innovation in Financial Services at the World Economic Forum, explains how sustainable growth, AI...
Interview
Battle of the Tech Hubs
The GCC is competing to build world-class technology hubs, investing heavily in AI, infrastructure, and sovereign capital to drive digital...
Economy
Business
Over 105m people visit Dubai Mall in 2023
DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...
- Figures also showed a staggering 20 million people visited the mall in the first two months of this year alone.
- The mall's events and promotions in 2023 and the beginning of 2024 were a key driver of its foot traffic.
Economy
Saudi Arabia’s Purchasing Manager’s Index rises to 57.2 points in Feb
RIYADH, SAUDI ARABIA - The seasonally adjusted Riyadh Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
- The PMI is a weighted average of five indices – new orders, output, employment, suppliers’ delivery times, stocks of purchases.
- In January, the index reached its lowest level in two years, indicating a strong but weaker improvement in Saudi non-oil private sector.
Economy
Ireland wants to be a gateway for UAE, Gulf states to EU market: Irish minister
Abu Dhabi, UAE--Ireland wants to become a gateway for the UAE and other Gulf states to the European Union (EU)...
- The minister said that Ireland wants the UAE, and indeed others in this region like Saudi Arabia and Kuwait, to see it as a gateway into the EU market
- Close to16,000 Irish citizens work in the GCC, mostly in the UAE, across various sectors such as education, healthcare, business, banking and hospitality
Economy
China sets ambitious 5 percent growth target for 2024
Premier Li Qiang formally announced the growth objective, alongside the overall budget and key government policies for 2024, at China's...
- Last year's NPC saw President Xi Jinping anointed for a historic third term, cementing his rule as the most powerful Chinese leader since Mao Zedong
- This year's gathering will focus on a litany of economic and security challenges, including a protracted property sector crisis, and soaring youth unemployment
Opinion
Vision 2030 empowers women in Saudi legal sector
"The progressive momentum generated in the past decade fills us with positivity and reassurance in the Kingdom, where we have...
- Saudi Arabia's Vision 2030 accelerates female participation in the workforce, surpassing targets ahead of schedule.
- The Kingdom boasts milestones like its first female international referee, astronaut, and train drivers , among others.
Economy
Saudi Arabia takes the lead in global road connectivity rankings: minister
Riyadh, Saudi Arabia - Saudi Arabia has earned the distinction of being the world's most connected country in terms of...
- Al-Jasser highlighted a remarkable decrease of over 50 percent in serious accidents, deaths, and injuries in recent years
- The ongoing campaign, now in its fourth year, seeks to enhance the efficiency and safety of the extensive road network, the minister added
Economy
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...
- Armed police are ubiquitous on Beijing streets as delegates arrive for the gathering
- The meetings are not expected to see the unveiling of big-ticket bailouts
Swiss central bank posts 2023 loss
The bank has raised its interest rates to tame inflation..
- SNB said it recorded a loss of 8.5 billion francs on national currency positions last year, following a loss of one billion francs in 2022
- The bank made a profit of four billion francs on foreign currency positions following a loss of 131.5 billion francs in the previous year
Economy
Turkey’s inflation rises to 67.1% in February
On a monthly basis, inflation rose 4.5 percent in February, slower than the 6.7 percent rise logged in January. Erdogan...
- The Turkish central bank held its key interest rate at 45 percent last month, pausing after eight straight increases aimed at taming consumer prices
- Inflation remains a pressing issue for President Recep Tayyip Erdogan's government ahead of local elections in March
Economy
Iran and Russia to sign new contracts to develop oil, gas fields
Tehran, Iran-- Iran and Russia have agreed to sign new contracts on developing oil and gas fields, according to the...
- The two ministers discussed creating a gas hub in the Eurasian region in the SCO framework, the development of oil and gas fields
- They also discussed the process of implementing the agreements over the connection of the power grids between Iran and Russia
Startups need more than funding: they need an ecosystem
Drew Propson, Head of Technology and Innovation in Financial Services at the World Economic Forum, explains how sustainable growth, AI...
Interview
Company News
Latest News
Trump says to raise tariff on India over Russia oil purchases
President Donald Trump threatened Monday to "substantially" hike US tariffs on goods from India over its purchases of Russian oil...
Economy
Jordan sees decrease in number of tourists over Gaza war
Amman, Jordan -- Jordan has seen a decrease in the number of tourists visiting its famed ancient city of Petra...
Business
AI search pushing an already weakened media ecosystem to the brink
New York, United States - Generative artificial intelligence assistants like ChatGPT are cutting into traditional online search traffic, depriving news...
Economy
Most Read
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...
- But the muscular approach has raised fears of inflation and other economic fallout in the world's biggest economy.
- Stock markets in Hong Kong and London slumped as they digested the turmoil.
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...
- Trump doubled down on the wide-ranging levies, posting on Truth Social: "Tariffs are making America GREAT & RICH Again."
- So far, Washington has announced pacts with Britain, Vietnam, Japan, Indonesia, the Philippines, South Korea and the European Union.
Business
Saudi Arabia’s real GDP up by 3.9 percent in Q2 2025: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) grew by 3.9 percent in the second quarter of...
- Flash estimates of GDP for Q2 say non-oil activities recorded the highest growth at 4.7 percent.
- The estimates, released by GASTAT, said oil activities grew by 3.8 percent and government activities at 0.6 percent.