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
KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility
ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...
Business
Russia, Iran eye trade and economic collaboration
Russian President Vladimir Putin has invited Iran’s President Ebrahim Raisi in Moscow for discussion over expanding strategic cooperation.
- A treaty on mutual relations and principles of cooperation between Iran and Russia turned 20 on March 12, 2021
- The diplomatic apparatus of Russia and Iran described the treaty as a turning point in both countries’ relationship
Business
Covid-19 clouds hover over world’s New Year party
As the year drew to a close, the emergence of the Omicron variant pushed the number of daily new Covid-19...
- As the pandemic enters its third year, it still dominates life around the globe
- Seoul to San Francisco, new year celebrations were canceled or curtailed
Business
Ikea to hike prices by 9%
The hike is due to pandemic-fueled supply-chain snarls.
- Ikea faced higher operating costs in North America and Europe
- It is now passing on that cost burden to its customers
WHO says Omicron risk ‘very high’ after Covid cases rise by 11 percent
Omicron is behind rapid virus spikes in several countries, including those where it has already overtaken the previously-dominant Delta variant,...
- Further data was needed to understand Omicron's severity in terms of clinical markers, including the use of oxygen, mechanical ventilation and death, WHO said.
- The highest numbers of new cases were reported from the United States, Britain, France and Italy.
Geostrategy
US condemns Houthis’ attacks on Saudi, calls group a threat
The United States has condemned the Houthis' continuous attacks on the Kingdom of Saudi Arabia, stressing that the group is...
- US State Department Spokesman Ned Price said that Saudi Arabia was able to eliminate about 90 percent of Houthi attacks.
- Houthis launched a military projectile that hit a commercial store in the Samtah governorate in the southern Jazan region on 24 December.
Economy
Saudi Arabia, UAE eye strong growth amidst challenges
London-based think-tank Cebr predicts the economic future of countries across the world and the outlook remains rosy for the Gulf...
- Saudi Arabia will jump from t19th to 17th in the World Economic League Table by 2021
- The UAE is expected to move up in the table from 34th in 2021 to 33rd in 2036
Economy
Palestine Q3 current-account deficit stands at $316m
The preliminary results showed a surplus value for the capital and financial account amounting to $222 million, mainly caused by...
- This deficit in the current account was mainly triggered by the deficit of the trade balance of goods, which reached $1,464 million
- The total transfers from abroad amounted to $602 million, of which 17% were the transfers to the government sector
Economy
Climate crisis puts oil in the crosshairs, but dependence persists
The International Energy Agency warned in May that an immediate halt to new investment in fossil projects is needed if...
- Fossil fuels, represent 80 percent of energy consumed, and were explicitly blamed for driving climate change at COP26
- This was not the case when the Paris climate pact was reached in 2015
Business
Omicron hits Christmas weekend travel: Over 6,000 flights scrapped
More than 6,000 flights have been canceled worldwide over the long Christmas weekend and thousands more were delayed, a tracking...
- Pilots, flight attendants, and other employees have been calling in sick or having to quarantine after exposure to Covid-19
- A scramble to reroute pilots and planes and reassign employees was underway, but Omicron's surge has upended business
Geostrategy
Arab League chief urges cooperation to achieve successful Libya elections
Aboul Ghaith pointed to the dangerous juncture that Libya is going through, and said that everyone should join hands and...
- In a statement, Aboul Gheit urged the concerned parties to adopt dialogue as the only means to resolve the dispute
- Gheit stressed on the importance of a national consensus on the legal and procedural rules for the elections
Most Read
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
Latest News
Chinese diplomat, Arab Parliament speaker discuss Middle East
BEIJING, CHINA – The director of China’s Office of the Central Commission for Foreign Affairs met with the speaker of...
Geostrategy
EU okays updated Pfizer and BioNTech’s anti-Covid vaccine
Adults and children over five require a single shot "irrespective of their Covid-19 vaccination history" while younger children may get...
Geostrategy
Iran’s non-oil exports reach US$19.3bn in March to July 2023
TEHRAN, IRAN - Some 56 million tons of non-oil goods, valued at US$19.3 billion, were exported in the first five...
Business
Most Read
Arts & Culture
NEOM to set up education, research and innovation center
TABUK, SAUDI ARABIA – NEOM has announced plans to establish a world-class education, research and innovation (ERI) center, following last...
- NEOM’s ERI center will enable access to a world-class education, research and innovation ecosystem at any stage of the life of a learner.
- The curricula deployed across NEOM’s ERI pillars will prepare a digitally fluent workforce, equipping students with real-life skill sets.
Geostrategy
French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
Geostrategy
Turkey’s Erdogan to visit Russia for talks with Putin
Turkish President Recep Tayyip Erdogan is to visit Russia "soon" for talks with Vladimir Putin on reviving a deal to...
- Kremlin spokesman Dmitry Peskov told reporters that a meeting was being prepared "intensively", without giving a time or place for the talks.
- Erdogan has used his good relations with Russia and Ukraine to try to bring the two sides into formal peace talks.