Stock markets diverge before Nvidia results, Federal Reserve minutes
Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve...
Market Report
Strategic initiatives help UAE lead digital economy
“This economy merges national skills and technological solutions, creating an advanced model that contributes to achieving the goals of the...
Economy
Economy
Kuwait population down 0.9 percent in H1 due to expat exodus
DUBAI: Kuwait’s population decreased by 0.9 percent in the first six months of this year to 4.62 million, as expatriate...
- More than a third of Kuwait population under 15, likely to put more pressure on the labor market.
- Total employment fell by 1.7 percent in H1 due to moderation in hiring activity among Kuwaiti nationals in the private sector and a drop in expat employment.
Economy
Dubai sees growth in employment opportunities as Covid-19 cases drop
As a result of fewer travel restrictions following vaccination and a decline in Covid-19 cases, Dubai has experienced a turnaround...
- Dubai-based Emirates will hire 3,000 cabin crew members and 500 airport staff workers over the next six months
- Amazon is planning to hire 1,500 people in the UAE this year
Business
$4 billion infrastructure and road projects ready for Expo 2020: RTA
The Road and Transport Authority has charted out technical event management plans and developed a structure for the mobility of...
- The projects included the construction of an Enterprise Command and Control Centre, hailed by RTA as one of the biggest and most sophisticated control centers in the world.
- Dubai Metro Expo 2020 Station will operate on October 1, synchronized with the official opening of Expo 2020.
Economy
Sudan protesters block crucial oil pipelines
Demonstrators blocked the entrance to the airport and a bridge linking Kassala State in the east with the rest of...
- Demonstrators blocked the entrance to the airport and a bridge linking Kassala State in the east with the rest of the country
- The unrest comes as Sudan grapples with deep economic woes left in the wake of Bashir's ouster
Geostrategy
Transformative projects focus of new UAE cabinet
The government work 'will be led by major transformative projects and not just long-term strategic plans, says Sheikh Mohammed.
- The new strategy comes with the government's previous plan, UAE Vision 2021, through which the emirates has achieved all its goals in the past 10 years, Sheikh Mohammed said.
- Unlike previous 5-10 year cycles, the coming cycles of change will be flexible and six months to two years long, he added.
Business
Digital inclusion vital for economic growth: Experts at WEF discussion
DUBAI: An estimated 47 percent of people worldwide are offline, and the cost of available broadband exceeds affordability targets in...
- An estimated 47 percent of people worldwide are offline, and the cost of available broadband exceeds affordability targets in 50 percent of developed countries.
- The UAE’s information and communications technology spending is estimated to reach $23 billion by 2024.
Economy
Fed policy tightening not at all bad for Gulf economies: Jefferies
The impending end of super-loose monetary policy from the Federal Reserve will have both positive and negative effects on the...
- A likely strengthening of the dollar, to which Gulf currencies are pegged, may push down inflation, because it makes imports less expensive
- Higher interest rates on dollar-denominated assets tend to lead to outflows from emerging markets
Economy
IMF chief: ‘Did not pressure anyone’ while at World Bank
An independent investigation found that during her time as World Bank CEO, Georgieva was among top officials who pressured staff...
- An independent investigation found that during her time as World Bank CEO, Georgieva was among top officials who pressured staff into changing data to China's benefit
- The bank has since scrapped the report, while the US Treasury called the findings "serious."
Science
UAE reviews food systems transformation at UN
The world must act, and act now, if we are to reach zero hunger by 2030, the UAE’s Minister of...
- There is no more time for planning in the run-up to 2030, which is designated the Decade of Action
- The combined efforts of all actors is necessary for the world to meet the UN’s Sustainable Development Goals
Economy
UN sees $400bn pledge for climate action
The United Nations has called for the world to redouble its renewable energy efforts to avert a climate emergency.
- Governments and the private sector pledged at a high-level summit to spend more than $400 billion on climate efforts
- The amount would also help bring electricity to more of the 760 million people around the world who currently lack it
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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
Stock markets diverge before Nvidia results, Federal Reserve minutes
Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve...
Market Report
Company News
Hermes Q1 revenue at US$3.7bn
Business
Latest News
Doha, Dubai most competitive job markets globally
Despite international scrutiny over labor practices, Qatar and the UAE continue to attract job seekers with attractive policies like tax-free...
Economy
Key technologies set to positively impact the world
Jurgens' remarks coincide with the World Economic Forum's announcement of its annual list of breakthrough technologies. These technologies, including flexible...
Economy
New WEF report reveals technologies to impact world in the next five years
TIANJIN, CHINA - The World Economic Forum on Tuesday announced its annual list of breakthrough technologies with the greatest potential...
Science
Most Read
Economy
Central Bank of Bahrain treasury bills oversubscribed by 109%
Manama, Bahrain - This week’s BD 70 million issue of Treasury Bills of Government of Bahrain have been oversubscribed by...
- The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain (CBB), on behalf of the Government of Bahrain
- The weighted average rate of interest is 6.15 percent compared to 6.11 percent in the previous issue on June 21
Economy
Most markets rise but traders fret interest rate hikes, Russia situation
The more positive environment came as concerns over Russia subsided following an aborted uprising, though developments in the nuclear-armed country...
- With the events in eastern Europe a little less worrying for now, focus has returned to the battle against surging inflation, which has dogged global markets this year.
- Fed's warning last week that rates would likely need to go higher dealt a blow to hopes that officials were at the end of close to completing their tightening cycle.
Economy
Availability of government sukuks boosts investment options for Islamic banks: Fitch
Doha, Qatar--The increasing availability of government sukuk and Islamic liquidity management tools by the Qatar Central Bank supports liquidity management...
- The ratings agency expects the market share to increase overall in 2023 because of high public demand and strong retail networks
- Fitch believes the launch of treasury sukuk in 2022 is a structural improvement as it adds to Islamic banks' short-term liquidity tools