IMF, World Bank say Gaza and Red Sea attacks risk to world economy
World Bank President Ajay Banga said that "what's going on Gaza, but also the challenges of Ukraine... and the Red...
Economy
In Middle East, ‘manufacturing’ is a new buzzword
From Saudi Arabia to the UAE and Qatar to Kuwait, governments across the region compete to jumpstart industrial sector but...
Bahrain to let restaurants, sports centers open Friday, July 23
Bahrain has announced that it will allow cafes, restaurants, sports centers and more to open for all on Friday
Iran opens oil terminal in Gulf of Oman to bypass Strait of Hormuz
Iran has started exporting crude through its first terminal in the Gulf of Oman, bypassing the Strait of Hormuz to...
Monthly rent in Kuwait can eat up 38 percent of your income
Average monthly rent for a three-bedroom apartment in Kuwait is about 475 KD ($1579), according to a survey by a...
Majority of employees worldwide want flexible working to continue: WEF
30 percent of 12,500 employes in 29 countries say they would look for another job if forced to go back...
Lebanon families ‘spend 5 times minimum wage’ on food
The Mediterranean country is battling what the World Bank has described as one of the planet's worst financial crises since...
Saudi Arabia gets tougher on shadow economy
Following the introduction of an anti-concealment law early this year, Saudi Arabia has stepped up its efforts to crack down...
Lebanon families spend 5 times minimum wage on food alone, says study
A family of five in Lebanon is spending more than 3.5 million Lebanese pounds a month on food
$500bn Saudi NEOM wants to be world’s most competitive free zone
The $500-billion mega city will have its own laws and regulations to govern itself.
Emissions set to surge to record levels in 2023 as governments spend less on clean energy: IEA
International Energy Agency says current government plans would increase spending on clean energy to $350, 75 percent short of its...
Lebanon discuss next PM choice after a week
Lebanon will begin parliamentary consultations to designate a new prime minister and Cabinet from July 26
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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
IMF, World Bank say Gaza and Red Sea attacks risk to world economy
World Bank President Ajay Banga said that "what's going on Gaza, but also the challenges of Ukraine... and the Red...
Economy
Company News
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Saudi Arabia’s SVC invests $30m in Bedaya Fund II
RIYADH, SAUDI ARABIA - Saudi Venture Capital (SVC) announced its investment of US$30 million in Bedaya Fund II, which is...
Business
Finding private sector jobs difficult for 62% percent Emirati graduates
Despite this pessimistic view, however, 61 percent of the surveyed graduates expressed interest in joining the private sector, said PwC's...
Business
Gas, infra deals inked as Qatar emir holds Baghdad talks with Iraq PM
Sheikh Tamim bin Hamad Al-Thani was welcomed by Prime Minister Mohamed Shia al-Sudani at the airport, images broadcast on Iraqi...
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Xi Jinping meets with ‘old friend’ Bill Gates in Beijing
Gates -- one of the world's richest men -- is the latest in a string of Western business leaders to...
- The visit is Gates' first to China in four years, and included a rare sit-down between the Chinese head of state and a foreign business leader
- A state media readout also quoted Gates as praising China's efforts in "tackling the Covid-19 pandemic, setting a good example for the world"
Economy
Phase out fossil fuels to avoid climate catastrophe
Limiting global temperature rise to 1.5 degrees Celsius is still possible but will require a 45 per cent reduction in...
- UN Secretary-General António Guterres urges a 45% cut in carbon emissions by 2030 to limit global temperature rise to 1.5°C
- Current policies could lead to a 2.8°C temperature rise by the end of the century, posing a catastrophic threat, adds Guterres
Pause, hike, cut: Central banks diverge over regional challenges
The Bank of Japan (BoJ) has gone against the grain set by the Fed and ECB, announcing on Friday that...
- On Wednesday, the Fed paused interest rate hikes after 10 straight increases, bringing its benchmark lending rate from close to zero to a range between 5.0 and 5.25 percent
- On Thursday, the People's Bank of China cut a key lending facility by 10 basis points to 2.65 percent, and extended 237 billion yuan ($33 billion) of fresh funding to lender