From cars to champagne: Trump’s expanding tariffs trigger trade war fears
Paris, France -- From champagne to steel and now cars: it is getting harder to keep up with US President...Economy Geostrategy
AI, wealth management and trust: Could machines replace human advisors?
The future of wealth management lies in hybrid models, combining AI’s data-driven precision with human empathy and ethical oversight. While...Economy
Saudi Arabia to continue voluntary oil cut until end of Dec 2023
The Kingdom's production in the coming months November and December will be approximately 9 million barrels per day, the country's...Riyadh, the world's biggest crude exporter, first announced its cut after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia.
That decision riled the United States, which at the time accused Saudi Arabia, a security partner, of siding with Russia in the war in Ukraine.
UAE Vice President forms Board of Investment Corporation of Dubai
Dubai, UAE - Vice President and Prime Minister of the United Arab Emirates Sheikh Mohammed bin Rashid Al Maktoum has...The board will be chaired by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, will serve as a Vice Chairman of the Board
Jordan takes measures to cut effect of global crises on food security
Amman, Jordan-- Jordan has taken measures to hedge against the impact of international crises on food security and lower its...The kingdom's agriculture minister said the measures directly contributed to improving the resilience and sustainability of food security in Jordan
He noted that the kingdom, through a national strategy, established the food security council and launched an initiative to stop the wastage of food
Libya orders Brussels envoy detention on graft charges
Shortly after her dismissal by the internationally recognized government in Tripoli, Amel Jerary, whose detention was ordered by the country's...The government in western Libya had earlier announced Jerary's dismissal without giving an explanation
The corruption scandal erupted after an audio recording attributed to Jerary was posted on social media
Geopolitical changes derailed shift towards green energy, says IMF
Washington, US - Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening to slow the transition to...IMF economists said trade disruptions could lower investment in renewable energy and electric vehicles by almost 30 percent till 2030
It said further geopolitical fragmentation could lead to "turmoil" in the commodity markets, causing long-term economic losses
Markets slump as US jobs data says labor market buoyant
The focus has been on US Treasury bond yields that have surged to levels not seen in over a decade,...Asian indices also ended mostly lower with Hong Kong leading the decline, falling nearly 2.7 percent as the market reopened after a holiday weekend
Russia's currency meanwhile continued to weaken on signs the country's economy is facing slower growth and higher inflation as the Ukraine war drags on
ADNOC, Fertiglobe to pilot cost-effective modular carbon capture technology
ABU DHABI, UAE – ADNOC and Fertiglobe on Tuesday announced the pilot deployment of the world’s first cost-effective modular CycloneCC...The CycloneCC technology is designed to improve the economics of point-source carbon capture within industrial facilities.
Traditional point source carbon capture technology relies on feeding gas through large absorption and stripping towers.
Jazan City for Primary and Downstream Industries exports first shipment to US
JAZAN, SAUDI ARABIA - The Jazan City for Primary and Downstream Industries has marked a significant milestone with the departure...The ship is laden with 37,000 tons of iron steel foundry product, representing the first-ever production of this commodity within the Kingdom.
The city's port has extensive capabilities and advanced logistical transportation services, making it a hub for trade exchanges in Saudi Arabia.
Yemen economy tanks as peace talks make no headway, say NGOs
"While economic challenges are rife across the country, rising inflation and the deterioration of public services are making life unbearable,"...Power cuts in Aden can last 17 hours a day and more than 50 percent of households in government-held areas cannot meet basic food requirements.
The World Food Program warned in August that more than four million Yemenis would receive less food assistance from the end of September.
Qatar begins construction on North Field gas expansion
RAS LAFFAN, QATAR - Qatar's state-owned energy giant began construction on Tuesday on a project to expand production from the world's...There has been mounting demand for Qatari gas as European consumer nations have scrambled to replace lost Russian deliveries.
Qatari Energy Minister Saad al-Kaabi called the project a "leap towards our country's leadership in the field of energy".
