Stock markets rise on fresh hopes for Trump’s tariff approach
Investor sentiment has been jolted in recent weeks by fears that the president's hardball policies could deal a painful blow...Business Economy
US Fed likely to keep rates steady as uncertainty over Trump’s economic policies looms
Since January, Trump has imposed levies on major trading partners Canada, Mexico and China, and on steel and aluminum imports,...Economy
Aerial taxis to help Dubai fly high in air mobility
"The challenges in air mobility are posed by weather conditions. Leveraging data and insights from past experiences, strategies have been...Air mobility relies on advanced technologies, grounded in systematic plans that have undergone extensive scientific testing, says Duncan Walker, CEO of Skyports
A notable project on the horizon is the Aerial Taxi, slated to begin operations in 2026. This innovative venture will cover a maximum distance of 241 km, he adds
Saudi Arabia projects 2024 budget deficit at 1.9% of GDP
The kingdom's finance ministry estimated expenditures for 2024 to be at US$333.5 billion. According to the ministry, the projection is...The kingdom's finance minister said that the government will continue implementing fiscal and economic structural reforms
The minister also noted the important role of the PIF and development funds that enhance the growth of non-oil GDP
Social aspects of ESG put some firms in a tight spot
While companies are increasing their investments in social initiatives, many grapple with effective execution and evaluation, highlights a new study...While companies are increasing their investments in social initiatives, many grapple with effective execution and evaluation, highlights a new study by Kearney
With only a third of companies seeking external insights, there's a clear opportunity for enhanced collaboration and knowledge-sharing, the report points out
China rejects US disinformation accusations, calls Washington ’empire of lies’
Beijing, China - China on Saturday accused the United States of being an "empire of lies", hitting back after a State...The report, released Thursday by the US State Department's Global Engagement Center, accused China of financing propaganda, disinformation.
"It is the U.S. that invented the weaponizing of the global information space," a Chinese foreign ministry spokesperson said in a statement.
UN conference adopts plan to reduce harmful chemicals
PARIS, FRANCE - A new roadmap to reduce the environmental risks from chemicals and waste was adopted at a United Nations...The plan sets out 28 concrete targets and guidelines for key sectors across the entire lifecycle of chemicals, from production to waste.
It calls for a transition to more sustainable chemical alternatives, responsible management of chemicals in industry, agriculture and healthcare.
ADB capital reforms unlock $100bn to support Asia and the Pacific region
MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...The expansion of available funds will be further leveraged by mobilizing private and domestic capital required to tackle the climate crisis.
The reforms also create a Countercyclical Lending Buffer to support ADB developing member countries facing unexpected crises.
IMF approves $1.3bn for Morocco to help transition to a greener economy
WASHINGTON, US - The International Monetary Fund (IMF) Executive Board approved a Resilience and Sustainability Facility (RSF) for Morocco of...The arrangement will help Morocco strengthen its preparedness and resilience against natural disasters, including from climate change.
The 18-months arrangement, "Will help Morocco address climate vulnerabilities, bolster its resilience against climate change,” the IMF said.
The many ways US government shutdown affects people
WASHINGTON, US - The United States is heading toward a government shutdown this weekend with no foreseeable way out of a...Sharp disagreements in the Republican Party has prevented passage of the bills needed to keep the government funded and open.
The credit ratings agency Moody's warned this week that a shutdown would be "credit negative" for US sovereign debt.
Haj 2024: Saudi Arabia to increase licensed companies for overseas pilgrims
Riyadh, Saudi Arabia - Saudi Arabia has unveiled plans to expand the number of licensed companies authorized to offer services...Under the new regulations, the licenses will be valid for a period of five years, and the estimated fee 100,000 Saudi riyals
To qualify for these licenses, companies must possess a valid trade register and have a minimum capital of 500,000 Saudi riyals
Saudi Fund for Development and Seychelles sign US$25m loan agreements
Riyadh, Saudi Arabia-- The Saudi Fund for Development (SFD) has signed two loan agreements with Seychelles to support the social...The SFD will contribute $25 million to support the social housing project in the Seychelles and the reconstruction of La Digue School project
The fund has so far implemented 700 development projects and programs in more than 90 countries with a value surpassing $18.7 billion
