G20 summit opens in South Africa without Trump
The Johannesburg gathering is being attended by a host of world leaders including French President Emmanuel Macron, Indian Prime Minister...
Geostrategy
Qatar warns will cut gas supply to Europe over EU’s green rules
Qatar's energy minister on Monday warned the Gulf state would halt its supply of liquefied natural gas to Europe over...
Economy
Economy
US Federal Reserve’s favored inflation gauge rises before rate decision
The US Federal Reserve's favored measure of inflation ticked higher last month, according to government data published. The latest announcement...
- The closely watched "core inflation" measure, which strips out volatile food and energy costs, continued to ease.
- This will likely reassure the Fed that trends are moving in the right direction, despite the latest uptick in headline prices.
Economy
Indians queue for Israel jobs as war in Gaza rages
India's urban unemployment rate -- the percentage of people wanting work who cannot find a job -- dipped to 5.1...
- Recruiters are aiming to fill a labour shortage in Israel exacerbated by nearly four months of fighting against Palestinian fighters in Gaza
- For the hundreds of Indians in line, almost all men, the chance of a skilled construction job in Israel - and wages up to 18 times higher - outweighs their fears
Arts & Culture
Riyadh Season 2023 on track to outshine previous edition with over 15m visitors
Riyadh, Saudi Arabia - Riyadh Season 2023 is poised to surpass the record set in 2021, with over 15 million...
- The accomplishment was announced on Wednesday, highlighting the success in achieving the target number of visitors before the conclusion of the event
- Comparatively, the first edition of Riyadh Season in 2019 attracted more than 9.6 million visitors, while the third edition in 2022 saw a turnout of over 13 million visitors
Economy
US economy defy expectations to grow stronger in Q4 2023
Washington, US - US economic growth was stronger than expected in the final months of 2023, government data showed Thursday, offering...
- The US economy expanded at an annual rate of 3.3 percent in the fourth quarter, fueled by a resilient jobs market and consumer spending, the Commerce Department said
- The fourth quarter GDP jump "reflected increases in consumer spending, exports, state and local government spending" and other areas, it added
Economy
ECB to urge patience on rate cuts in battle against inflation
The central bank is tipped to leave rates unchanged for a third consecutive meeting, keeping the benchmark deposit rate at...
- Frankfurt institute launched an unprecedented rate hiking cycle in mid-2022
- ECB watchers will be more interested in president Christine Lagarde's press conference
Business
Dubai wins right to host 349 business event in 2023
DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city...
- Driven by Dubai Business Events, the wins reflected a robust 49 percent increase in successful bids compared to 2022.
- DBE brought a citywide offering to the global market that resonated with the core needs of the business events industry.
Economy
Saudi Arabia set to launch advanced means of air mobility
Riyadh, Saudi Arabia - Saudi Arabia is planning to start air mobility that is most advanced and safest in the...
- The Saudi General Authority of Civil Aviation is spearheading the Advanced Air Mobility (AAM) initiative that encompasses a spectrum of innovative solutions
- The initiative seeks to ease traffic congestion, enhance accessibility to remote areas, and contribute to overall economic and social development
Economy
Global HQs help Saudi youth boost skills, get jobs
The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the...
- The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the Kingdom's diversification.
- Riyadh aims to become a global economic hub, drawing international experts and fostering knowledge transfer, with potential economic benefits estimated at $45 billion.
Economy
Real estate workforce in Saudi Arabia soars to 26,000 after localization push
Riyadh, Saudi Arabia - The Saudi real estate sector has witnessed a remarkable surge in local employment, boasting a substantial...
- The significant 116% leap comes in the wake of the government's decision to prioritize the localization of the sector
- The housing sector, in particular, benefits from substantial corporate support, with 21 initiatives worth over $181 million
Business
IsDB discusses collaboration with China’s ICBC and BOC
Jeddah, Saudi Arabia -- President of the Islamic Development Bank (IsDB) Muhammad Al-Jasser held today held discussions with senior officials...
- The ICBC Bank Chief Business and Management Officer Wang Kun, expressed interest in the sukuk (Shariah-compliant bonds) market
- The BOC's Chief Business and Management Officer discussed strengthening collaboration in treasury activities, stock, and capital markets
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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
G20 summit opens in South Africa without Trump
The Johannesburg gathering is being attended by a host of world leaders including French President Emmanuel Macron, Indian Prime Minister...
Geostrategy
Company News
Latest News
Generative AI’s most prominent skeptic doubles down
Vancouver, Canada -- Two and a half years since ChatGPT rocked the world, scientist and writer Gary Marcus still remains...
Interview
Chief Economists warn global growth under strain from trade policy shocks and AI disruption
The global economic outlook has worsened since the start of the year, as rising economic nationalism and tariff volatility fuel...
Economy
OPEC+ ministers, led by Saudi Arabia and Russia, meet as oil output hike looms despite falling prices
The 22-nation group began a series of cuts in 2022 to prop up crude prices, but Saudi Arabia, Russia and...
Economy
Most Read
Economy
United Kingdom renationalizes first train operator under Labor reforms
London, United Kingdom -- Britain's South Western Railways on Sunday becomes the first private train operator to be returned to...
- Renationalizing all of the UK's rail operators is among the key policies launched by Prime Minister Keir Starmer since his party's return to government last July.
- Train passengers in Britain suffer from frequent cancellations, in addition to high ticket prices and regular confusion over which services they can be used on.
Economy
Trump fires new 50% tariff threat at EU, drawing stiff response
Washington, United States - President Donald Trump rekindled the US trade war on Friday, threatening to impose a 50 percent...
- If they come into effect, the new duties on Brussels would dramatically raise Washington's current baseline levy of 10 percent
- The US president has also introduced sector-specific measures on automobiles, steel and aluminum not produced in the United States
Business
Trump threatens Apple with a 25% tariff if iPhones aren’t made in US
Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones...
- Trump's sweeping tariffs on major US trading partners have roiled global markets and upended international commerce.
- Trump's comments Friday echo statements he made last week while on a trip to Qatar, urging Apple to bring iPhone production to US shores.