Business
Deliveroo 2022 loss at $355m
The firm's revenue rose 14 percent to nearly US$2.4 billion.
- Deliveroo exited Australia and the Netherlands in 2022, after departing from Spain in 2021.
- The company expanded into Qatar last year as it pursues a growth plan of action in Middle East.
Geostrategy
Grain deal talks ongoing after Russian proposal, says UN
Consultations to prolong Ukrainian grain exports deal are continuing, the UN said, after a Russian proposal for just a 60-day...
- Russia had agreed to extend the deal which is due to expire on Saturday, for 60 days.
- Ukraine said that "contradicts" the original agreement but did not reject the proposal.
Interview
‘Morocco economy robust, 80% of exports manufactured products’
The country managed to restrict inflation to 6 percent and sustain jobs despite challenges, the North African nation's Industry and...
- The country managed to restrict inflation to 6 percent and sustain jobs despite challenges, the North African nation's Industry and Trade Minister Ryad Mezzour tells TRENDS.
- Moroccan automotive industry produced 700,00 cars in 2022 and we expect the production to hit 1 million in the next three years, adds Mezzour during the interview
Infographics
UAE, Qatar least corrupt Arab nations
The 2022 Corruption Perception Index says corruption is undermining democratic processes and fueling violence in the Middle East and North...
- The CPI ranks180 countries and territories around the world by their perceived levels of public sector corruption on a scale of 0 (highly corrupt) to 100 (very clean).
- With a score of 90 and 87 respectively, Denmark and Finland top the CPI, while Somalia and Syria hit rock bottom with a score of 13 and 12 respectively.
Geostrategy
Russia agrees to grain export deal extension for 60 days
Russia has agreed to extend the Ukraine grain export deal following talks with the United Nations - but only for...
- The grain export deal has helped ease the global food crisis triggered by Russia's full-scale invasion of Ukraine in February 2022.
- The invasion saw Ukraine's Black Sea ports blocked by warships until a deal signed in July allowed for the safe passage of exports of critical grain supplies.
Geostrategy
UN investigators hit out at lackluster help for Syria quake victims
GENEVA, SWITZERLAND - The world failed to act quickly enough to rush life-saving aid to Syrians in desperate need following the...
- Almost 6,000 people were killed in Syria by the 7.8-magnitude tremor that struck the country and neighboring Turkey.
- The UN estimates that five million people need basic shelter and non-food assistance in the quake-hit part of Syria.
Geostrategy
UAE minister meets UN Secretary-General on global climate action
NEW YORK, US - Minister of Industry and Advanced Technology and COP28 President-Designate Dr. Sultan bin Ahmed Al Jaber met...
- The minister outlined the UAE’s key COP28 priorities across mitigation, adaptation, loss and damage, climate finance and process innovation.
- The UAE and UN discussed the urgent need to close the financing gap and to keep alive the goal of limiting global warming to 1.5ºC.
Geostrategy
COP28 President Designate meets with key US government officials
WASHINGTON DC, US - UAE Minister of Industry and Advanced Technology and COP28 President Designate Dr. Sultan bin Ahmed Al...
- The UAE minister discussed multilateral development bank reform as weel as an update on recent US climate policy action.
- They discussed the need to invest in global clean energy supply chains, and the role of the US-UAE Partnership for Accelerating Clean Energy.
Geostrategy
Poor states’ summit promised just US$1.4bn, says UN
DOHA, QATAR - Just US$1.4 billion in new loans and grants were promised at a UN summit devoted to the world's...
- The Doha meetings saw Saudi Arabia offer $800 million in loans to Least Developed Countries.
- Qatar said it would give $60 million for UN projects and Canada $59 million for vitamin supplements in LDCs.
Market Report
Global stocks mixed as markets await US jobs data
Wall Street rose but European stock markets fell as investors brace for US jobs data that they fear could prompt...
- The US Federal Reserve raised rates by a quarter basis point in December, lower than previous decisions.
- European wholesale natural gas prices dived to the lowest level since August 2021, due to high storage levels.
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
Company News
Latest News
Google Chrome begins restricting cookies in first step towards elimination
Paris, France - Google has begun limiting third-party cookies for some users of its Chrome web browser, a first step towards...
Business
FAO says global food prices fell 13.7 percent in 2023
World food prices fell in 2023, with considerable declines for grains and oils as supply concerns eased, the UN's Food...
Economy
Foreign governments paid Trump firms millions as president, claims US report
NEW YORK, US - Former US president Donald Trump's businesses received at least $7.8 million from foreign governments including China during...
Geostrategy
Most Read
Geostrategy
Iranian warship enters Red Sea, reports media
TEHRAN, IRAN - Iran's Alborz warship has entered the Red Sea through the strategic Bab al-Mandeb strait, Tasnim news agency reported...
- The news agency did not give specific reasons for its deployment, but noted that Iranian military vessels had operated in the area since 2009.
- According to the International Chamber of Shipping, 12 percent of global trade passes through the Red Sea
Geostrategy
UNSC committee adopts guiding principles on use of UAS for terrorist purposes
NEW YORK, US – The Counter-Terrorism Committee (CTC) of the UN Security Council adopted the "Abu Dhabi Guiding Principles" and...
- The document is the first of its kind at the United Nations to address the increasing challenges posed by UAS in the context of counter-terrorism.
- As the current chair of the Counter-Terrorism Committee, the UAE facilitated this crucial initiative, reflecting its commitment to global peace and security.
YEARBOOK 2023
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
- UAE launched ALTÉRRA, the world’s largest private investment climate action vehicle, aimed at raising and mobilizing an additional $250bn for climate action.
- Despite global headwinds, CBUAE projects 3.3 percent year-on-year growth projected for the UAE economy in 2024.