San Francisco, United States - Artificial intelligence giant Anthropic said Thursday it was expanding its use of Google cloud computing...
- Gold and silver tumbled for a second day Wednesday, bringing a rally in the precious metals to a juddering halt,...
Dubai, UAE - Savings Deposits in the banking sector in the UAE, excluding interbank deposits, hit $71.87 billion by the...The local currency, the dirham, accounted for the largest share of Savings Deposits, with around 82 percent, which is $59.12 billion
Demand Deposits rose to $262.77 billion at the end of October 2023, with an annual growth rate of 5.6 percent
The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's...The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's economic stability and financial health.
A new S&P Global report underscores the urgency for adaptation and resilience investments to mitigate risks such as climate-induced flooding.
The impact of the conflict had reversed a slight recovery for Lebanon, which has battled a deep economic crisis for...Lebanon's economy collapsed in late 2019, plunging most of the population into poverty, according to the United Nations.
Real gross domestic product is expected to decline "to between minus 0.6 percent to minus 0.9 percent depending on the extent of the tourism shock," the World Bank said.
Despite slashing oil production for months on end and announcing new cuts in late November, the Organization of the Petroleum...Prices are sitting at their lowest level in nearly six months despite the cartel's announcement in November to further cut output.
Angola is far from the first small country to quit the cartel. Indonesia left in 2009, Qatar in 2019 and Ecuador in 2020.
Dubai, UAE -- Consumer spending in the UAE is expected to increase by 5 percent in 2024, while consumers and...Expansionary fiscal policy is set to continue to support growth in the Gulf Cooperation Council (GCC) countries, the report said.
GCC’s strong push to grow its tourism sector have made the region one of the world’s fastest-growing destinations.
The bank stated in a report released today that the overall GDP for the country is expected to grow by...The bank said that the UAE economy recorded a 3.8 percent year-on-year (YoY) growth in the second quarter of the current year, compared to 8 percent recorded in Q2 2022.
It mentioned that the non-oil GDP growth accelerated to 7.3 percent YoY in the second quarter of the current year, up from 4.5 percent YoY in the previous quarter.
A joint statement said the funds amounting to around $164.3 million "aims to support the efforts undertaken by the Tunisian...The aid is part of a partnership agreement reached between the two countries in Tunis on July 16, which included a 105 million euros to curb irregular migration
The joint press by EU commission and the Tunisian foreign ministry release said the 150-million aid will consist of a "direct financial transfer to the Tunisian public treasury
- At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and...
At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and ensure a secure digital future.
Australia committed $2 million to UNCTAD for e-commerce support in developing nations, as Kenya unveiled a national strategy to spur its digital economy growth.
Finance Minister Ali bin Ahmed Al Kuwari attributed the decrease in revenues to the adoption of an average oil price...Expenditures are expected to increase by 1 percent from 2023 to reach QR 200.9 billion, due to a rise in the allocations for salaries and wages.
Allocations for both current expenditures and secondary capital expenditures also increased by 6.4 percent and 27.5 percent respectively, compared to 2023.
Founded in 1960, the 13-member OPEC cartel in 2016 partnered up with 10 other producers to form OPEC+ to gain...Prices are sitting at their lowest level in nearly six months despite the cartel's announcement in November to further cut output
While Riyadh blamed speculators for the drop, rather than weak demand, analysts say the cartel's lack of unity has fuelled scepticism about their latest announced cuts.
