WEF flags geoeconomic confrontation as top global risk for 2026
Experts warn economic warfare, misinformation and unchecked AI could amplify global shocks as cooperation weakens across political and trade blocs.
Geostrategy
GCC capital market reforms spawn IPO, foreign investment wave
For a region long shaped by sovereign balance sheets and state-owned champions, the Gulf is quietly rewiring its financial plumbing,...
Business
Geostrategy
Palestinians flee as Israeli forces return to Gaza’s north
The flare-up in the northern Gaza Strip's Shujaiya district, which witnesses and medics said caused numerous casualties, comes as fears...
- Gaza City's Al-Ahli hospital, said the facility had so far received seven "martyrs including four children" and more than 40 others who were wounded.
- In Gaza, fighting has ground on despite comments Sunday by Israeli Prime Minister Benjamin Netanyahu that the "intense phase" of the war was winding down.
Business
US offers $5 million reward for Bulgarian ‘cryptoqueen’
SOFIA, Bulgaria -- The United States announced Wednesday a reward of up to $5 million for information that could lead to...
- Ignatova, 44, evaded arrest by fleeing on a flight from Sofia to Athens two weeks after her indictment in October 2017 and her whereabouts remain unknown.
- Ignatova, who has German citizenship, is accused of being the mastermind behind the mammoth fraudulent virtual currency scheme OneCoin.
Geostrategy
Remittance flows to low-middle-income countries $656bn
World Bank’s latest Migration and Development Brief said the modest 0.7 percent growth rate reflects large variances in regional growth,...
- Remittances to LMICs are expected to grow at a faster rate of 2.3 percent in 2024, although this growth will be uneven across regions.
- Remittances to the Middle East and North Africa fell by 15 percent to $55 billion While those to South Asia grew by 5.2 percent in 2023.
Geostrategy
Dubai to build $8 bn stormwater runoff system after record floods
Dubai, UAE -- Dubai on Monday announced an $8 billion plan for a stormwater runoff system, two months after an unprecedented...
- The rainwater drainage network announced by Dubai ruler Sheikh Mohammed bin Rashid Al-Maktoum is set to be completed by 2033 with construction to start in 2033.
- "It will cover all areas of Dubai and will absorb more than 20 million cubic meters of water per day," Sheikh Mohammed said of the plan for Dubai.
Business
UAE energy giant ADNOC offers $12.8bn for Germany’s Covestro
Covestro's shares surged more than six percent in Frankfurt following the announcement, which comes after it first disclosed talks were...
- It said the "starting point" for talks was a "possible offer price" of 62 euros per share from ADNOC. This would value Covestro at $12.57 billion.
- ADNOC welcomed Covestro's decision to start talks on its "final offer", adding that it looked forward to working with the German group to "swiftly progress" the matter.
Business
Beyond Nvidia: the search for AI’s next breakthrough
Toronto, Canada -- For a few days, AI chip juggernaut Nvidia sat on the throne as the world's biggest company, but...
- Nvidia, which makes the processors that are the only option to train generative AI's large language models, is now Big Tech's newest member.
- Even tech's second rung on Wall Street has ridden on Nvidia's coattails with Oracle, Broadcom, HP and others seeing their stock valuations surge, despite sometimes shaky earnings.
Geostrategy
Israeli forces tie wounded Palestinian to jeep in West Bank raid
Jenin, Palestinian Territories -- Israeli troops tied a wounded Palestinian to a military vehicle during a raid in the occupied West...
- Medics identified the Palestinian as Mujahid Raed Abbadi, 24, who told AFP he lives in the Jenin refugee camp.
- Francesca Albanese, the UN special rapporteur on the rights situation in the Palestinian territories, suggested the troops were using Abbadi to shield themselves from gunfire.
Geostrategy
Israeli strikes kill 5 Gaza municipal workers as fears grow of wider war
Palestinian Territories -- Israel bombed Gaza on Friday as exchanges of fire and threats over the Lebanon border raised fears of...
- Five municipal workers died "during an Israeli bombing" of a garage in Gaza City, said Mahmud Basal, spokesman for the civil defense agency in the territory.
- The World Health Organization, said "we did not see an impact on the humanitarian supplies coming in" after Israel announces daily 'tactical pauses' for aid delivery.
Geostrategy
Saudi official defends management of hajj after hundreds die
"The state did not fail, but there was a misjudgment on the part of people who did not appreciate the...
- He said the government had confirmed 577 deaths for the two busiest days of hajj: Saturday, when pilgrims gathered at Mount Arafat and Sunday in Mina for stoning ritual
- "This happened amid difficult weather conditions and a very harsh temperature," the official said, while acknowledging that the 577 figure was partial and did not cover all of hajj
Business
Global FDI falls by 2 percent to $1.3 trillion in 2023: UNCTAD
Geneva, Switzerland -- Global foreign direct investment (FDI) fell by 2 percent to $1.3 trillion in 2023 amid an economic...
- But the UNCTAD report highlights that the decline exceeds 10 percent when excluding the large swings in investment flows in a few European conduit economies.
- FDI flows to developing countries fell by 7 percent to $867 billion last year, reflecting an 8 percent decrease in developing Asia.
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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
WEF flags geoeconomic confrontation as top global risk for 2026
Experts warn economic warfare, misinformation and unchecked AI could amplify global shocks as cooperation weakens across political and trade blocs.
Geostrategy
Company News
SHUAA okays MCB tranches
Business
Latest News
GCC leaders explore regional growth and opportunity at Doha investment meet
The burgeoning creator economy presents an unprecedented opportunity for GCC to outpace global cities and establish itself as the epicenter...
Business
WEF’s risks report 2025: Rising geopolitical tensions, environmental threats, disinformation dominate future threats
A survey of over 900 experts reveals state-based armed conflict as the most pressing global risk for 2025, driven by...
Geostrategy
Global economy set to face significant challenges in 2025: WEF survey
Geneva, Switzerland – The global economy is set to face significant challenges in 2025, with 56 percent of chief economists...
Economy
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Business
Fifth Aramco facility receives WEF Global Lighthouse Network tag
Dhahran, Saudi Arabia -- Aramco's North Ghawar Oil Producing Complex has become the company's fifth facility to be added to...
- Aramco said that only industrial sites that successfully deploy 4IR technologies at scale are admitted to the prestigious network.
- WEF said UAE's EGA, named End-to-End Value Chain Lighthouse, undertook a 4IR transformation to further increase its cost-competitiveness.
Business
PIF acquires stake in Saudi Re
The acquisition was made by way of a capital increase.
- PIF said in a statement that the capital investment aims to enhance Saudi Re’s growth potential by adding to its financial capacity and further strengthening its credit rating.
- In the first nine months of 2024, Saudi Re's total written premiums reached SAR 1.94 billion ($520 million).
Business
Non-institutional foreign ownership in Tadawul-listed firms up slightly
Riyadh, Saudi Arabia -- Non-institutional foreign investors increased their stake in Tadawul-listed equities, excluding Saudi Aramco, from 9.70 percent to...
- The ownership increased from 9.70 percent to 9.72 percent, equivalent to SAR 334.55 billion, during the week ending January 9.
- GCC investors’ ownership in Saudi equities, excluding Saudi Aramco, declined from 2.27 percent to 2.18 percent of the total market capitalization.