Egypt to access $1.2 billion in funding after deal with IMF
Washington, United States -- The International Monetary Fund said Tuesday that it has reached a deal with Egyptian authorities allowing the...
Economy
In stabilization bid, Syria’s new ruler declares all weapons under state control, including Kurdish arms
Ahmed al-Sharaa announced all weapons, including those held by Kurdish-led forces, will come under state control, emphasizing unity and coexistence...
Business
Flynas launches its new operations base at Madinah airport
Riyadh, Saudi Arabia: Flynas, the national airline and the leading low-cost carrier in the Middle East and the world, announced...
- These additions will bring the total number of routes operated by flynas from Madinah to 11 so far.
- The operations from our new operations base will start with two aircraft as a first stage,
Science
Can chatbots be therapists? Only if you want them to be
Like every other sector that AI is threatening to disrupt, critics are concerned that bots will eventually replace human workers...
- Like every other sector that AI is threatening to disrupt, critics are concerned that bots will eventually replace human workers rather than complement them
- Users of Replika, a popular AI companion that is sometimes marketed as bringing mental health benefits, have long complained that the bot can be sex obsessed and abusive
Geostrategy
UAE President in Doha, attends opening of International Horticultural Expo 2023
Doha, Qatar -- UAE president Sheikh Mohamed bin Zayed Al Nahyan who is on a visit to Qatar attended the...
- Several heads of states and international delegations are attending the exhibition as it unfolds at Al Bidda Park from 2nd October 2023 to March 2024, spanning 179 days
- This event marks the first international horticultural exhibition hosted in a desert country and focuses on modern agriculture, technology and Innovation, and sustainability
Economy
Russian economy to grow 1.5 percent this year, says key European bank
After having forecast a contraction earlier this year in Russia's economy, the European Bank for Reconstruction and Development is now...
- it said the outlook for 2024 will depend heavily on how the war on Ukraine and the related economic sanctions evolve
- Russia's central bank has forecast the country's economy to grow between 1.5 and 2.5% this year and between 0.5 and 1.5% in 2024
Business
Vitronic signs contracts in MENA
The contracts to install traffic systems are worth US$211m.
- Vitronic Middle East will install over 2,000 "cutting-edge traffic enforcement systems in high-risk areas" over the next few months.
- It said In a statement that traffic management and enforcement systems provide benefits that go beyond the daily lives of individuals
Economy
Mining sector to contribute 5% to UAE non-oil GDP by 2030: minister
Abu Dhabi, UAE - The mining sector’s contribution to the non-oil GDP of the United Arab Emirates is set to...
- The ministry has launched the country's first mineral wealth strategy, in collaboration with local authorities, Al Hosani said
- It has also conducted geological and mineral surveys, produced geological maps, and built a geological and geophysical database
Business
Saudi real estate sector builds on vision beyond oil
TRENDS digs into Saudi Arabia's booming real estate sector and ambitious projects to find how they offers investors lucrative, long-term,...
Geostrategy
Houthi and Saudi engage in ‘positive’ talks
Saudi Arabia and Iran-backed Houthi rebels put a positive spin on the inconclusive talks in Riyadh as diplomatic efforts increased...
- The Saudi-Houthi talks in Riyadh were the latest ray of light for Yemen, which has endured decades of instability.
- Houthi spokesman Mohammed Abdel Salam, who led the delegation, indicated that both sides were looking for solutions.
Opinion
MEA brands focus on personalized customer experience
"Post-Covid GCC travel trends are promising: about 50% of customers plan to increase digital spending in travel and retail. With...
- In the digital era, customer engagement is vital, shifting from transactional ties to interactive bonds; 20% of engaged patrons drive 80% of sales through endorsements
- Post-Covid, travelers see personalized offers, not just reminders; 34% might switch due to poor communication; GCC sees rising digital spend; CEPs promote sustainable growth.
Geostrategy
‘Qatar leads the charge in food security initiatives’
Several ministers of agriculture and food security from UN's Food and Agriculture Organization member states at the event discussed key...
- Qatar plays a major role in advancing food security at local, regional, and global scales, says Qatar’s Municipality Minister
- The country's key initiatives include dairy cow importation, poultry self-sufficiency, and innovative greenhouse techniques
Egypt to access $1.2 billion in funding after deal with IMF
Washington, United States -- The International Monetary Fund said Tuesday that it has reached a deal with Egyptian authorities allowing the...
Economy
Company News
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UAE banking sector assets exceed $1.16 trillion by the end of June
Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) revealed that total banking assets, including bank acceptance certificates,...
Business
WTO says trade alone won’t bridge gap between economies
The WTO's 2024 report on global trade looked at the role that commerce has played to narrow the gap between...
Geostrategy
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Geostrategy
Iran’s president to visit Iraq on first foreign trip, sign MoU on security
Tehran, Iran -- Iran's President Masoud Pezeshkian will visit neighboring Iraq on Wednesday, state media reported Sunday, in what will be...
- Pezeshkian will head a high-ranking Iranians delegation to Baghdad to meet senior Iraqi officials.
- Since taking office, Pezeshkian has vowed to "prioritize" strengthening ties with the Islamic republic's neighbors.
Business
Market capitalization of 20 UAE listed firms reaches $762 billion
Abu Dhabi, UAE -- The market capitalization of the top 20 listed companies in the local stock markets by market...
- The 20 listed companies accounted for 77.6 per cent or AED 2.79 trillion of the total market capitalization of the local equity markets of AED 3.59 trillion.
- Global Holding came out on top with a market capitalization of more than AED 912.29 billion, equivalent to 25.4 percent of the capitalization of local markets.
Economy
Global stock markets wobble as investors weigh US jobs data
Since US Federal Reserve Chairman Jerome Powell stated last month that the time for interest rates to begin coming down...
- Another big miss for August would have solidified perceptions that the US economy is slowing more sharply than initially thought.
- Government data showed Friday the world's biggest economy added 142,000 jobs last month, an increase from July's figure which was revised notably lower to 89,000.