‘Innovative startups key to national prosperity’
"Investing in youth, inspiring ideas, and transforming them into creative projects is a cornerstone for facing global challenges in many...
Economy
Price of natural gas in Europe falls to a 3-year low
LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost...
Business
Economy
GCC cooperation sought to enhance region’s industrial sector
Dr. Sultan Al Jaber said that the national effort to develop the UAE’s industrial sector through the UAE Industry 4.0...
- The minister's remarks came during the 48th meeting of the GCC Industrial Cooperation Committee in the Kingdom of Bahrain
- He pointed out that the Covid-19 pandemic accelerated efforts to improve collaboration across the GCC
Economy
Iraq: Water-logged cash in Mosul central bank coffers
The banknotes were badly damaged after the coffers were engulfed in groundwater during offensive to take Mosul from the jihadists.
- The banknotes were badly damaged after the coffers were engulfed in groundwater during offensive to take Mosul from the jihadists
- Some 175 bags have been found although total value of the money is not known yet
Economy
Lebanon hikes fuel prices in de facto end to subsidies
The end to subsidies pushes the cost of filling a vehicle's tank to more than the monthly minimum wage in...
- The price increases have mostly erased massive queues at gas pumps that clogged streets across the country.
- The energy ministry on Wednesday also raised the price of diesel and cooking gas following a drop in Lebanese pound.
Business
Dubai records $4.4 billion realty sales in September, highest since 2013
The months leading up to the launch of Expo 2020 Dubai witnessed a surge in realty transactions, with September recording...
- A total of 5,762 sales transactions in September bring the year-to-date total value to over AED100 billion.
- In September 2021, 56 percent of all sales transactions were for secondary/ready properties and 44 percent were for off-plan properties.
Economy
Earnings joy lifts Asian markets as Fed mulls taper
Signs of progress on US President Joe Biden's massive spending bill provided an extra lift to sentiment
- Signs of progress on US President Joe Biden's massive spending bill provided an extra lift to sentiment
- Strong profit reports from big-name firms over the past week have reinforced optimism that the corporate sector is weathering slowdown in economic growth
Economy
Lebanon’s car culture comes into question amid fuel crisis
In the absence of a functioning public transport system, car culture has thrived in Lebanon, with many households, even modest...
- There are more than 2 million cars for 6 million people in Lebanon
- However, people are now turning to buses and tuk-tuks to get around as fuel is expensive and often unavailable
Interview
400% rise in Saudi agri investment in four years
The kingdom’s goal is to support small farmers, develop rural agriculture and assist the local development of the food product...
- The kingdom’s goal is to support small farmers, develop rural agriculture, and assist the local development of the food product manufacturing sector
- The lack of natural water and an unsuitable climate are the two most pressing issues facing the Kingdom's environment and agriculture
Economy
Deficit to surplus: GCC economies on growth track
The combined current account balance of oil exporters in the GCC region is likely to shift from a deficit of...
- UAE economy is expected to grow by 2.2 percent in 2021 and by 4.9 percent in 2022, supported by tourism, oil prices recovery and Expo 2020 activities.
- Saudi Arabia's real GDP growth fell 4.1 in 2020 and is expected to increase to 1.9 percent this year and 4.8 percent in 2022.
Geostrategy
UAE, Bahrain, Qatar among top 10 expat destinations in the world
Overall, the Middle East, North Africa and Turkey (MENAT) was the highest-ranking region for the quality of life, with 71...
- Switzerland, New Zealand and Spain top three destinations followed by Australia, Cyprus, Portugal, Ireland, France and Netherland.
- 65 percent of expats feel optimistic about the year ahead and 75 percent were optimistic 'normality' will return.
Analysis
Lebanon elite united against probe seen as survival threat
Lebanon's political parties seem united in rejecting an investigation into Beirut's massive port explosion that they fear could threaten their...
- The investigation looks to shed light on the explosion of a huge stockpile of poorly stored fertilizer on August 4, 2020, in Beirut
- The blast killed more than 210 people, wounded thousands, and ravaged half the capital
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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
‘Innovative startups key to national prosperity’
"Investing in youth, inspiring ideas, and transforming them into creative projects is a cornerstone for facing global challenges in many...
Economy
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Egyptians caught in devastating economic storm
Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into...
Economy
UAE’s financial advisory market to touch US$239 billion in 2023
Dubai, UAE--The UAE's financial advisory market is expected to reach a market volume of nearly $239 billion by the end...
Economy
Most Read
Business
Saudi Arabia’s Al-Ettifaq hires former Liverpool star Steven Gerrard as coach
Riyadh, Saudi Arabia--Former Liverpool captain Steven Gerrard is the latest star name to make the move to Saudi Arabia after...
- Gerrard who was sacked by Aston Villa in October had initially rejected an offer to move to the kingdom, but eventually was lured by the riches on offer
- The Saudi Pro League supported by the kingdom's sovereign wealth fund has lured big names from the major European leagues with the promise of huge salaries
Economy
UAE cabinet sets up ministry of investment, approves new strategies
The new ministry will bolster the UAE's business aims and investment policies, apart from promoting its infrastructure as a global...
- The cabinet approved the updated UAE National Energy Strategy, aiming to triple the contribution of the renewable energy over the next 7 years
- It also approved the National Hydrogen Strategy which aims to promote the UAE’s position as a producer and exporter of low-emission hydrogen
Business
China to restrict export of semiconductor making materials
BEIJING, CHINA - China said on Monday it would slap export controls on two rare metals essential for the manufacture of...
- Exports of gallium and germanium, of which China is a major producer, will require a license from August 1, said a Chinese guideline
- China accounted for 80 percent of global gallium production, according to a 2020 report by the European Commission