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
Business
Saudi imposes anti-dumping duties on products from 10 countries
Riyadh, Saudi Arabia -- Saudi Arabia has imposed anti-dumping duties on seven products imported from 10 European and Asian countries,...
- The products included all types of cement, including clinker, from all Iranian companies, with a dumping duty of 67.5 percent.
- The superabsorbent polymer products were also subject to anti-dumping measures on Saudi imports from five countries for five years.
Geostrategy
IMF confirms Kristalina Georgieva for second five-year term
It means that Georgieva, who was the sole candidate in the running to lead the International Monetary Fund, will continue...
- Georgieva, a 70-year-old Bulgarian, has run the IMF since 2019, and told AFP last month that she was making herself "available to serve, if people want me to serve."
- Under a controversial, decades-old agreement between Europe and the United States, the International Monetary Fund has historically been led by a European.
Business
Middle East tensions weigh on markets as oil and gold prices shoot up
London, United Kingdom -- Wall Street stocks slid on Friday despite banks beating expectations at the start of earnings season as...
- Oil prices were up more than two percent as regional tensions soared after Iran threatened reprisals over a strike in Syria.
- Gold also benefitted from its status as a haven investment, breaking the $2,400 per ounce level.
Geostrategy
IEA lowers its forecast for global oil demand growth in 2024
According to the IEA, oil demand growth in Q1 2024 was lower than expected at 1.6 mln bpd, and the...
- The IEA emphasized that decreasing global oil demand growth indicates consumption will peak in the current decade.
- Despite the anticipated decline, however, the current rate of oil demand growth is largely similar to the trend prior to the COVID-19 pandemic.
Business
JPMorgan Chase profits up 6%
The bank's CEO warns about risk of persistent inflation.
- Profits were $13.4 billion, up six percent from the year-ago period, boosted by higher net interest income.
- The bank expects the boost from higher interest rates on profits to erode or "normalize" over time.
Business
Most equity markets fall as US inflation data dims rate cut hopes
The losses tracked a sell-off on Wall Street and saw the dollar strike a 34-year high against the yen, fueling...
- The disappointing data sent all three main indexes on Wall Street deep into the red. Asia followed suit in the morning but some bounced into positive territory as the day wore on.
- Hong Kong, Tokyo, Sydney, Singapore, Wellington, Taipei, Bangkok and Manila slipped, while Shanghai and Seoul edged up.
Business
Uniqlo upgrades net profit forecast
It now expects to make $2.1bn in the year to August.
- It also sees full-year operating profit of 450 billion yen on sales of 3.03 trillion yen, both of which would also be record figures if realized.
- Its low-cost GU clothing brand has been another key driver of the retail group's expansion, Fast Retailing added.
Business
ByteDance profits jump 60%
Sales also grew to nearly $120 billion from $80 billion.
- ByteDance has grown into one of the world's biggest tech firms -- best known in most countries as the creator of video app TikTok -- since its birth in a Beijing apartment 12 years
- A privately held firm, ByteDance does not release revenue and profit figures but media estimates of its earnings put it on par with some of the biggest firms in the world.
Geostrategy
WTO eyes global trade rebound in 2024 but warns of risks
Geneva, Switzerland -- The World Trade Organization said Wednesday that global trade should rebound this year from an unexpected slump in...
- In its annual trade forecast, the WTO disclosed that world trade volumes unexpectedly declined by 1.2 percent in 2023.
- WTO has also warned of worrying signs of growing protectionist behaviour by some countries, although it refuses to name them.
Business
Germany shares observations on Qatar hosting Autonomous e-Mobility Forum
In its efforts toward sustainable transportation, the German embassy is the first diplomatic representation in Doha to utilize an electric...
- The diplomats shared their observations and views on Qatar’s trajectory as a hub for dialogue and the potential of autonomous e-mobility moving forward
- The German embassy is indeed the first diplomatic representation in Doha to utilize an electric vehicle as a staff car
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
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
Latest News
18Â Palestinians killed in Israeli strikes on northern, southern Gaza
Palestinian news agency (WAFA) reported that eight Palestinians were killed, and others were injured in an airstrike by the Israeli...
Geostrategy
NDMC arranges $2.5bn credit facility
The Shariah-compliant facility spans a tenure of three years.
Business
Dubai real estate market saw record transactions worth $142.1bn in 2024
Dubai, UAE -- Dubai’s real estate market recorded 180,900 transactions worth AED 522.1 ($142.1 billion) in 2024, a market report...
Business
Most Read
Business
Kamco Invest launches two funds
Kamco's assets under management surpass SAR 1bn.
- The new Shariah-compliant funds are named Kamco Freestyle Saudi Equity Fund and Kamco SAR Murabaha Fund.
- The company said in a statement that the launch of the two funds brings the total number of public funds managed by Kamco Invest in the Kingdom to three.
Business
Saudi PIF’s assets up by $11.44bn by the end of third quarter 2024
Riyadh, Saudi Arabia – The value of assets under Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) assets—both...
- The number of subscribers recorded a 51 percent increase, representing nearly 528,000 subscribers, to reach 1,570,452 subscribers, compared to 1,042,484 at the end of Q3 2023.
- Foreign investment assets recorded an annual growth of 15.1Â percent, increasing by over SARÂ 3 billion to reach SARÂ 25.656 billion, which accounts for 16% of the total asset value.
Economy
Maysa Sabreen made first woman chief of Syrian central bank
Damascus, Syria -- Syrian authorities have appointed Maysa Sabreen as interim central bank governor, a bank official told AFP on Tuesday,...
- Sabreen, a Syrian banking expert, held the position of first deputy governor since 2018. She has also served on the central bank's management committee.
- Mohammed Issam Hazime, who headed the central bank before her, was appointed in 2021 under the rule of Bashar al-Assad.