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
From healthcare to finance: How AI is reshaping global industries and GCC economies
A study by the World Economic Forum reveals that AI could replace around 85 million jobs by 2025Technology
IMF criticizes Lebanon for failure to adopt reforms
The International Monetary Fund renewed its criticism of Lebanon for failing to enact reforms demanded by creditors in return for...In April 2022, Lebanon and the IMF reached conditional agreement on a $3-billion-dollar loan package to bail out the economy.
But politicians have yet to enact the painful reforms demanded to begin the 46-month financing program.
Dubai real estate transactions worth over $3.4bn in week ending September 15
DUBAI, UAE - A total of 2,329 real estate transactions worth over US$3.4 billion (AED 12.7 billion) were conducted during...A total of 549 plots were sold for US$1.1 billion, while 1,780 apartments and villas were purchased for $1.07 billion.
A plot in Marsa Dubai sold for US$169 million while a plot sold for US$49 million in Business Bay.
Saudi business delegation visits ZSBVC steel factory in Vietnam
HANOI, VIETNAM - A delegation of 80 Saudi businessmen, representing over 50 companies, and representatives from national specialized bodies and...The visit aims to explore investment opportunities, enhance trade, investment and industrial cooperation between Saudi Arabia and Vietnam.
The visiting delegation was briefed on the production lines at Zamil Steel Building Vietnam Co and witnessed the skill of the workers.
Transfer of Iran’s unfrozen foreign assets to Qatari banks soon
TEHRAN, IRAN – The foreign minister of Qatar said the procedures for the transfer of Iran’s unfrozen foreign assets to...Qatar has been a mediator in talks that led to a prisoner exchange deal between Iran and the United States.
The deal involves the release of five prisoners from each side and the unfreezing of some US$6 billion worth of Iranian funds.
Nearly two-thirds of Saudi Arabian employees lack enhanced digital skills
Riyadh, Saudi Arabia - A substantial 62% of employees in Saudi Arabia are eager to acquire improved digital skills in...The findings also exposed a troubling trend, with 45% of respondents expressing concerns about job security due to their perceived lack of IT competencies
The survey also highlighted a specific group within the workforce most apprehensive about job security – department heads and top managers
US approves most Egypt aid despite rights alarm
Egypt is one of the largest recipients of US military aid, dating to its historic normalization of relations with Israel...The $1.215 billion package marks the third straight year that US government has waived some restrictions imposed by Congress on aid to Egypt
"This decision reflects that Egypt is making a specific and ongoing contribution to US national security priorities," a State Department official said
People’s Bank of China cuts bank reserve ratio again to aid recovery
Beijing, China - The People's Bank of China (PBOC) on Friday unveiled its decision to trim the reserve requirement ratio...The move marks the second significant RRR reduction by the PBOC this year
Institutions already operating with a 5% RRR are exempted from this change
Deals with India add pace to Saudi diversification
Riyadh and New Delhi set a new benchmark in global trade and cooperation with 53 deals across diverse sectors and...Riyadh and New Delhi set a new benchmark in global trade and cooperation with 53 deals across diverse sectors and plans for an economic corridor from India to Europe
Trade between Saudi Arabia and India, valued at US$52 billion, and India's rising economic prominence position makes New Delhi a key strategic partner for the Kingdom
Diverse business models needed for trade with China, say Union of Arab Chambers
BEIRUT, LEBANON – The secretary general of the Union of Arab Chambers has called for diversified business models to facilitate...The secretary general of the Union of Arab Chambers said there was a rise in the variety of goods traded between China and the Arab world in recent years.
Arab nations and China cannot simply rely on the traditional pattern of cooperation that emphasizes on imports and exports of products.
Relations with Iran will be strong, says Saudi envoy
TEHRAN, IRAN - Saudi Arabia's Ambassador to Iran Abdullah bin Saud al-Anzi has said that relations between the two countries...The Saudi envoy expressed satisfaction with his country's ties with Iran and the two sides' resumption of bilateral diplomatic relations.
He said that any pact between Saudi Arabia and Iran will lead to the enhancement of peace and security in the entire region.
