China retaliates with 84 percent tariffs on US products
Beijing, China -- China will impose 84 percent tariffs on US imports, up from 34 percent, the finance ministry said...
Business
Ukraine to propose sky, sea truce at US talks in Saudi: official
The talks on Tuesday will be the first Ukraine-US meeting since a White House blow-up between Zelensky and US President...
Geostrategy
Economy
Rising inflation hobbles SMEs in Gulf countries
Diversifying, and strengthening local production structures is the most appropriate way to reduce inflation. Entrepreneurs and start-up companies may come...
- Increased inflation rates mean a rise in the supply chain, labor costs, and basic living costs, which result in more challenges for SMEs
- Diversifying, and strengthening local production structures is the most appropriate way to reduce inflation
Economy
Global and regional trade: The economic booster for GCC govts
The squeeze on real incomes within the region due to higher inflation may depress regional trade flows. The situation may...
- With the rise in the price of crude oil, the economy of the region might receive a big boost, say experts
- Many experts also believe that inflation will not impact the regional trade between the GCC countries
Economy
How GCC nations can tame rising inflation?
Investing in inflation-protected bonds and gold may provide some hedge against consumer price rise. Putting money into the real estate...
- Inflation is more of a global phenomenon than a localized one since major central banks may have loosened policy during COVID-19.
- Since interest rates are already meager, company owners should handle the early stages of interest rate rises (probably until at least 2023-24).
Videos
Is GCC inflation getting out of control?
Central bank action and risks to financial stability must be carefully monitored and managed as loose monetary policy is unwound....
- The possibility of emergence of new Covid-19 variant sparks fear of more disruptions in the supply chain, which may add to the inflation woes in the GCC.
- The anticipated global monetary tightening is likely to have an impact on the GCC growth outlook. Supply-driven inflationary risks are also imminent.
Economy
Why and how high is inflation in the region?
The main reason for high inflation rates in the GCC is a rebound in prices in the sectors that were...
- Kuwait was the costliest country in the Gulf to live in in 2021, with an annual inflation rate of around 4.1 percent
- Only in Qatar does annual inflation exceed 5 percent, owing to a high increase in the cost of’ recreation and culture
Infographics
Look: How Gulf inflation evolves in 25 years
GCC countries, like other nations across the world, are exposed to many economic challenges and risks such as higher prices...
- GCC countries, like other nations across the world, are exposed to many economic challenges and risks such as higher prices of basic products and services
- To reduce consumer prices, GCC governments are more focused on supporting the local manufacturing rather than depending on imports
Economy
Jordan, Saudi Arabia talk ways to raise trade exchange
According to a Jordanian Trade Ministry statement, the two countries discussed preparations for holding the 17th session of the Joint...
- According to a Jordanian Trade Ministry statement, the two countries discussed preparations for holding the 17th session of the Joint Commercial Committee meetings
- The meetings will tackle many topics aimed at increasing the volume of joint trade exchange and economic cooperation
Business
Shares of Ma’aden shoot up 6% on the back of record earnings
Shares of Ma’aden, the Saudi mining company, vaulted six percent in trading on Sunday when news broke of its record...
- Amid a jump in commodity prices, the miner turned into a profit of SR5.2 billion in 2021, after making losses of SR280 million a year ago, according to a filing
- Despite solid results, the company said it won't pay any dividends to shareholders for 2021 “based on the company’s need to continue funding its current and future projects”
Geostrategy
Turkey calls on Russia to end Ukraine attack
Turkish Foreign Minister Mevlut Cavusoglu asked Russian counterpart Sergei Lavrov to end the attack on Ukraine during a phone call...
- Ankara has repeatedly called the Russian invasion of Ukraine "unacceptable" and offered to mediate between Moscow and Kyiv
- Erdogan said Turkey was trying to work towards the declaration of an immediate ceasefire "to prevent further loss of life and prevent further damage to Ukraine"
Business
From a tennis court in Dubai, Andrey Rublev says ‘no war please’
Andrey Rublev made a plea for peace after notching an eighth consecutive victory on Friday to move into his second...
- The 24-year-old had told reporters in Dubai on Thursday that he believed in peace and unity
- Rublev won the title in Marseille last Sunday and has battled through some tight situations this week in the Emirates
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
China retaliates with 84 percent tariffs on US products
Beijing, China -- China will impose 84 percent tariffs on US imports, up from 34 percent, the finance ministry said...
Business
Company News
TSMC’s April revenue up 60%
Business
Etihad reports record Q1 profit
Business
Latest News
Aramco Q1 profit down 14.5%
Business
‘Children torn apart’: Israel strike rains hell on Gaza dawn prayers
Dawn prayers were shattered by the early morning triple air strike from Israeli warplanes, which gutted Al-Tabieen religious school and...
Geostrategy
Israel agrees to resume Gaza truce talks next week
A prospective cessation of hostilities also involving the release of hostages held in Gaza and scaled-up aid deliveries has centred...
Flying’s never been safer, risk of death halving every decade: MIT study
Washington, United States -- Flying can be a nerve-wracking experience for many people -- but a new study out Thursday finds...
Geostrategy
Most Read
Business
Oil and gas sector in Arab countries attracts projects worth $406bn
Kuwait: -- The oil and gas sector in Arab countries attracted 610 projects implemented by 356 foreign and Arab companies,...
- United States topped the list as the most important investing country in the Arab region in the oil and gas sector with 85 projects.
- Russia ranked first in terms of investment costs, with a value of US$ 61.5 billion, representing about 15.2 percent of the total.
Geostrategy
Turkey joins South Africa’s Israel ‘genocide’ case at ICJ
A Turkish parliamentary delegation accompanied by the Turkish ambassador to the Netherlands filed a "declaration of intervention" at the ICJ's...
- South Africa's Dec 2023 case alleges that Israel's Gaza offensive, launched in retaliation for Hamas' bloody October 7 attack on Israel, breached the 1948 UN Genocide Convention.
- In a ruling January 26, the ICJ told Israel to do everything possible to prevent acts of genocide during its military operations in Gaza, which have left nearly 40,000 dead.
Geostrategy
Bangaldesh Nobel winner Yunus ready to lead after Hasina flees
Dhaka, Bangladesh -- Bangladesh Nobel winner Muhammad Yunus said Tuesday he is ready to head a caretaker government, a day after...
- Microfinance pioneer Yunus, 84, is credited with lifting millions out of poverty -- earning the enmity of ousted Hasina and the wide respect of millions of Bangladeshis.
- Army chief General Waker-Uz-Zaman announced Monday the military would form an interim government, saying it was "time to stop the violence".