Stocks, oil slump as China retaliates and Trump digs in heels
Despite the market turmoil, Trump insisted: "my policies will never change". Wall Street stocks fell more than two percent at...Business Economy
World’s tiniest pacemaker is smaller than grain of rice
Paris, France -- Scientists said Wednesday they have developed the world's tiniest pacemaker, a temporary heartbeat regulator smaller than a...Technology Health Science
China’s Xi announces over $100 billion in new Belt and Road funding
Beijing has been forced to hand out billions of dollars in bailout loans to BRI countries in recent years to...The Belt and Road is a central pillar of Xi's bid to expand China's clout overseas, with Beijing saying it has now inked over two trillion dollars in contracts around the world
Xi announced on Wednesday that key Belt and Road lenders the China Development Bank and the Export-Import Bank will now offer an additional $100 billion in loans
China economy growth slowed in third-quarter but beat forecasts
Last year, the economy grew three percent, far from the official target of 5.5 percent, and one of the slowest...The 4.9 percent expansion in July-September was helped by forecast-beating retail sales figures and follows a series of broadly positive readings
But authorities are still on edge over turmoil in the real-estate sector, which has long accounted for a quarter of the country's gross domestic product
UAE champions multilateral trade, says WTO economist
"The Gulf country is set to host the WTO's 13th Ministerial Conference in the first quarter of 2024 in Abu...The UAE will host the WTO's 13th Ministerial Conference in the first quarter of 2024.
The conference in Abu Dhabi is among the most significant in WTO's recent history
Emirati investments in Turkey reach $5.6 billion in 2022
ABU DHABI, UAE – Ahmet Burak Daglioglu, Head of the Investment Office of the Turkish Presidency, said that the cumulative...UAE currently stands as Turkey's 13th largest trade partner for exports and the 15th largest for imports.
From 2014 to 2022, the total foreign direct investment from Turkey to the UAE amounted to approximately $1.1 billion
Markets fall as Biden set for Middle East diplomacy drive
US and European stock markets mostly fell and oil prices rose as US President Joe Biden prepared for a trip...Wall Street opened in the red, with the tech-heavy Nasdaq shedding more than one percent, while Frankfurt and Paris fell 0.6 percent afternoon deal.
"Understandably, not many people are in the mood to put their hard-earned cash at risk in these uncertain economic times," said an expert.
Modon inks 2 MoUs with Saudi Exports, Local Content Authority
RIYADH, SAUDI ARABIA - The Saudi Authority for Industrial Cities and Technology Zones (Modon) has signed two memorandums of understanding...The MoU with the development authority entails exchange of expertise in industrial cities management and provision of logistic services and solutions.
Modon’s MoU with LCGPA aims to achieve integration of local content in industrial cities, exchange experience and practices in institutional innovation.
Saudi Arabia launches bus transport project linking 200 cities
RIYADH, SAUDI ARABIA – The Kingdom’s Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser here launched a significant...The project will have a capacity to accommodate six million passengers annually.
It will operate through three international alliances in three concession areas.
Qatar’s Industrial Production Index falls 2.1 percent in Aug 2023
Qatar's Industrial Production index (IPI) reached 105.2 points in August 2023, a decline by 2.1 percent compared to the previous month (July...The index of the manufacturing sector showed an increase by 2.2 percent in August 2023 compared to the previous month (July 2023).
Refined petroleum products fell by 0.5 percent. No change noticed in group of printing and reproduction of recorded media.
Jordan, Egypt foster economic policy collaboration with new MoU
Amman, Jordan - Jordan and Egypt have signed an MoU to foster cooperation in economic and development policy formulation, as...The MoU emphasizes the importance of coordination and the development of bilateral relations in technical cooperation between planning institutions in the two countries
This encompasses the development of policies in the economic and development sectors, along with the mutual exchange of expertise, training, and capacity building
MENA banking sector records 30% surge in net profits in H1 2023
Dubai, UAE - The Middle East and North Africa (MENA) banking sector has witnessed a remarkable 30% year-on-year increase in...Digital transformation is reshaping the sector, with a focus on AI, sustainable finance, and enhanced customer experiences
The UAE's banking sector saw a remarkable 31% increase in net profits and total assets, driven by substantial investments in technology initiatives
