Building the Gulf’s Knowledge Future: Education, Innovation, Talent
Florin Vasvari of London Business School says a knowledge economy requires educated local talent, global expertise and supportive regulation, tax...
Economy
From Summit to Strategy: Qatar Builds Global Investment Hub
This year’s edition is expected to welcome more than 30,000 participants from over 120 countries, including 1,500 startups, 700 investors...
Economy
Economy
UAE emerges as a new leader in global healthcare
“This goal, aligned with the forward-looking vision of the UAE's leadership, will not only enhance the quality of life but...
- The Gulf country maintains its competitive edge in healthcare through advanced infrastructure and a skilled workforce, underscoring its commitment to healthcare excellence.
- The UAE's ministry along with key departments showcases innovative health initiatives on the 'Emirates Health' platform, highlighting strategies for future healthcare development.
Economy
US Fed rate cuts become question of when, not if
Washington, United States -- The US Federal Reserve is widely expected to start cutting interest rates in the coming months, as...
- In economic forecasts published alongside the last Fed decision, policymakers indicated that they expect as many as three quarter percentage-point rate cuts this year.
- Fed interest rate cuts can help reduce the cost of consumer loans, making everything from cars to mortgages more affordable for millions of households.
Economy
Egypt’s wheat and oil reserves sufficient for several months, says minister
Cairo, Egypt-- Egypt has enough reserves of wheat to last it for many months, according to Dr. Ali Al-Moselhi, the...
- The minister said that 100 tonnes of sugar have been produced from the cane crop so far, and that preparations are underway to receive the beet crop in mid-March
- The country purchases around five million tonnes of wheat annually from abroad, and subsidised bread is available to more than 70 million of its 104 million population
Economy
Embracing renewables secures UAE’s green future
"COP28 saw all parties reach an agreement on the historic ‘UAE Consensus.’ This consensus includes achieving a well-organized, responsible, fair,...
- UAE, under Dr. Sultan bin Ahmed Al Jaber's leadership, actively promotes global renewable energy.
- The 'UAE Consensus' at COP28 sets specific goals for a zero-carbon energy system, Al Jaber adds.
Iran, Turkiye ink contract to connect power grids
Ankara, Turkiye – Iran and Turkiye signed contract to connect their power grids during the visit of Iranian president Ibrahim...
- The Khoy-Van grid line is set to become operational as part of the agreement between the Iran Grid Management Company and the Turkish Electricity Transmission Company
- The contract signed by Iran’s Mehdi Moghimzadeh and Turkiye's Orhan Kaldirim clears the decks for connection of the 400-kilovolt BtB HVDC line between Khoy (Iran) and Van (Turkiye)
Market Report
Paris stocks hit record thanks to luxury
Europe's main stock markets shot higher, with Paris closing at a record high as shares in LVMH surged on record...
- Hong Kong stocks slumped after rallying for much of the week, as traders awaited guidance on more Chinese stimulus.
- Oil prices fell as traders banked profits from a strong week for crude.
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
Building the Gulf’s Knowledge Future: Education, Innovation, Talent
Florin Vasvari of London Business School says a knowledge economy requires educated local talent, global expertise and supportive regulation, tax...
Economy
Company News
Latest News
Oil prices jump after Trump’s warning, stocks extend gains
Oil prices rallied Tuesday after Donald Trump urged Tehran residents to evacuate, stoking fresh fears of all-out war as Israel...
Economy
Oil prices drop, stocks climb as Iran-Israel war fears ease
Israel's surprise strike against Iranian military and nuclear sites on Friday -- killing top commanders and scientists -- sent crude prices...
Business
MENA Brief – June 16: Netanyahu eyes Gaza breakthrough, Iran rejects talks, Trump at G7, UAE oil giant bids big
Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal...
Economy
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Science
IBM claims ‘real world’ edge in quantum computing race
San Francisco, United States -- Technology veteran IBM on Tuesday laid out a plan to have a "practical" quantum computer...
- Current quantum computers are still experimental and face significant challenges, including high error rates.
- Companies like IBM, Google, and others are working to build more stable and scalable quantum systems.
Economy
World Bank cuts growth forecast on trade tumult, warns of ‘deep’ harm
The bank lowered its projection for global GDP growth to 2.3 percent in its latest economic prospects report, down from...
- "That's the weakest performance in 17 years, outside of outright global recessions," said World Bank Group chief economist Indermit Gill.
- By 2027, the World Bank expects global GDP growth to average 2.5 percent in the 2020s, which would be the slowest rate in any decade since the 1960s.
Economy
From Iran Talks to Dubai Metro: Key Middle East Developments You Need to Know on June 10, 2025
Key developments across the Middle East today highlight regional diplomatic, economic and humanitarian trends
- Sheikh Mohammed launches 30km expansion featuring world's highest metro station (74m) to serve growing population
- After 12-year exclusion, Damascus prepares to reconnect to global banking network to formalize trade