Syria reveals new post-Assad banknotes
Syrian leader Ahmed al-Sharaa unveiled on Monday new banknotes replacing those showing ousted ruler Bashar al-Assad and his family, hoping...
Economy
Syria to start replacing currency from Jan 1: central bank chief
Syria's central bank chief said Thursday that the country's currency would start to be replaced with a revamped version from...
Economy
Business
Bitcoin surpasses $47,000, first time since March 30, 2022
Abu Dhabi, UAE - Bitcoin surged above $47,000 on January 9, marking its highest value since March 30, 2022, as...
- Bitcoin, originating in 2008 under the pseudonym Satoshi Nakamoto, operates as a decentralized digital currency
- The robust trading volumes in Bitcoin mining firms signal a heightened investor interest, underlining the increasing prominence of cryptocurrencies
Economy
Dubai leads MENA region in urban mobility readiness
The emirate ranked 28th globally in the 2023 Urban Mobility Readiness Index, highlighting its efforts in creating a sustainable, future-ready...
- The emirate ranked 28th globally in the 2023 Urban Mobility Readiness Index, a testament to its efforts in creating a sustainable, future-ready transportation ecosystem.
- Abu Dhabi climbs to 38th position, and Riyadh to 53rd in the Index, showcasing GCC's focus on sustainable urban mobility despite challenges faced by the region.
Saudi Arabia tops MENA in venture capital investment in 2023
Riyadh, Saudi Arabia - Saudi Arabia achieves first rank across MENA for the first time in terms of the amount...
Geostrategy
Saudi Arabia, Belarus ink MoU to boost trade, investment
RIYADH, SAUDI ARABIA - The Federation of Saudi Chambers and the National Center for Marketing and Price Study at the...
- Under the pact, the two parties will exchange information related to trade, business environment, investment, production and export opportunities.
- The two parties will organize joint research activities pertaining to marketing to enhance trade prospects and explore ways of improved cooperation.
Business
Dubai SME joins hands with CXDA to attract investment
DUBAI, UAE – The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), a part of Dubai...
- The strategic partnership with Dubai SME outlines a comprehensive roadmap.
- This will introduce AI for equipping SMEs with innovative financial solutions.
Economy
Saudi Exchange launches TASI50 Index tracking top 50 companies by market capitalization
Riyadh, Saudi Arabia – The Saudi Exchange has announced the launch of the TASI50 Index, which tracks the top 50 companies...
- The companies have a minimum annual traded value ratio (ATVR) of 5%, ensuring that the index tracks the largest companies in the market
- The index is an important tool for both individual and institutional investors, providing an overview of market performance in real time
Economy
Japan quake death toll jumps to 161, 103 missing
According to authorities in the central Ishikawa region hit by the 7.5-magnitude quake, the number of people unaccounted for fell...
- The rescue work is being complicated by roads cut off by the quake and landslides.
- Around 20,700 households in the wider Ishikawa region remain without electricity
Business
Utilizing AI is only possible if skill gap is bridged, says expert
DUBAI, UAE - The Artificial Intelligence (AI) revolution is upon us, with AI becoming a pervasive force in our daily...
- As the rate of AI adoption increases, humans are essential to guiding the technology’s implementation and usage of these technologies.
- Executives estimate that up to 40 percent of their workforce may need to reskill as a result of implementing AI or automation over the next three years.
Geostrategy
UK announces Europe’s first high-tech uranium fuel plant
HALEU fuel is needed to power many of the next generation of advanced nuclear reactors, including so-called small modular versions...
- UK government said it would invest $382 million building a high-assay low-enriched uranium programme that would help "displace" Moscow from global energy mar
- The British investment is part of plans to deliver up to 24 gigawatts of electricity from nuclear power by 2050, a quarter of the United Kingdom's electricity needs
Economy
Qatar rises as a premier sports tourism destination
“In addition to hosting a variety of sports events, especially the FIFA World Cup Qatar 2022, Qatar has shown the...
- Qatar has emerged as a top sports tourism destination with advanced infrastructure and facilities.
- The Gulf country boasts its successful hosting of FIFA World Cup 2022, voted the best this century.
Syria reveals new post-Assad banknotes
Syrian leader Ahmed al-Sharaa unveiled on Monday new banknotes replacing those showing ousted ruler Bashar al-Assad and his family, hoping...
Economy
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Analysis
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UAE-Morocco consortium sign $14 billion worth of energy, water infrastructure projects
Morocco on Monday signed deals with an Emirati-Moroccan consortium for energy and water infrastructure projects, which according to one of...
Economy
China’s Xiaomi to invest nearly $7 bn in chips
Chinese tech giant Xiaomi will invest 50 billion yuan ($6.9 billion) in developing high-end smartphone chips, the firm's founder said...
Business
China factory output beats forecasts, weathering tariffs
Beijing, China - Factory output in China grew at a faster rate than expected last month, official data showed Monday,...
Economy
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Business
US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...
- The broad-based S&P 500 added 0.1 percent at 5,923.30, while the tech-rich Nasdaq Composite Index gained 0.2 percent to 19,146.48.
- Broadband and cable company Charter Communications gained 2.5 percent after announcing a deal to acquire Cox Communications for $34.5 billion.
Economy
Tehran says no objection to US investment in Iran
Iranian Foreign Minister Abbas Araghchi said Thursday that Tehran has no objection to US companies operating in the country, including...
- "We have no ban on the economic presence of American companies in Iran," Araghchi said, attributing the lack of US business activity to primary sanctions imposed by Washington
- His remarks come after President Donald Trump said Washington was "getting close" to a new nuclear deal with Tehran to replace the one he abandoned during his first term in 2018
Economy
US, China to slash tariffs as Trump to speak to Xi
After the first meetings between Washington and Beijing since Trump ratcheted up his trade war, the world's two biggest economies...
- The world's two biggest economies agreed in a joint statement to bring their triple-digit tariffs down to two figures and continue negotiations
- China hailed the "substantial progress" made at the talks, held at the discreet villa residence of Switzerland's ambassador to the United Nations in Geneva