Asian markets advance after Wall St gains, US Postal Service U-turn
Asian markets rose Thursday, tracking gains on Wall Street and following the US Postal Service's U-turn on a ban on...Economy
Risks are interconnected, need collaborative solutions, says WEF’s Mark Elsner
Davos, Switzerland – Mark Elsner, Head, Global Risks Initiative, World Economic Forum sat with TRENDS during WEF’s summit in Davos...Technology Business Economy Geostrategy Global
Egypt hikes subsidized bread price for first time in decades
Cairo, Egypt - Egypt's cabinet decided Wednesday to raise the price of subsidized bread for the first time in 30 years,...The price of a loaf, long set at five piastres ($0.001), would quadruple to 20 piastres ($0.004) from June 1, Prime Minister Mostafa Madbouly told a news conference
Madbouly acknowledged the move would be unpopular but emphasised the need to "rationalise the burden on the state treasury to ensure the sustainability of subsidies."
The U.S. playing the waiting game with inflation
Federal Reserve official Neel Kashkari has reiterated the Fed’s wait-and-see approach about possible rate cuts.  In a recent interview on CNBC, Kashkari, who serves...The labor market remains strong in the U.S.
The consensus is that the first rate cut won’t arrive before September
The Middle East fastest growing Real-Time Payments market globally
For the second consecutive year, the Middle East is the fastest-growing real-time payments market globally, according to the 2024 Prime...The region saw a remarkable YoY growth of 33.6% in 2023 with 855 million real-time payment transactions
Transaction value in the Middle East is projected to rise from US$230 billion in 2023 to US$903 billion by 2028
Asian shares mixed after Fed minutes, while Nvidia provides support
Asian markets diverged Thursday after minutes from the Federal Reserve's most recent policy meeting indicated officials would keep interest rates...Federal Reserve's most recent policy meeting indicated officials would keep interest rates elevated
Nvidia showed it turned a profit of $14.9 billion in the first quarter
France and UAE sign AI cooperation deal
France and the United Arab Emirates on Tuesday signed a "strategic partnership" on artificial intelligence (AI) aimed at boosting cooperation...In 2017, the UAE became the first country in the world to appoint a minister of state for artificial intelligence, digital economy and remote work
In April, US tech giant Microsoft announced a $1.5-billion investment in UAE-based artificial intelligence firm G42
Qatar banking on AI with nearly $2.5 bn in investments
Qatari Prime Minister and Minister of Foreign Affairs H E Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani delivered on...Qatar is moving towards a comprehensive digital transformation by investing more in technology, innovation and AI
The Qatar Central Bank (QCB) to issue guidelines on how to adapt artificial intelligence
India, Iran sign 10-year agreement to develop port project
Tehran, Iran - India and Iran on Monday signed a 10-year contract to develop and equip the strategic Chabahar port in...The agreement will give India 10-year access to use the port, located close to Iran's southeastern border with Pakistan, according to Iran's Ministry of Roads and Urban Development
The contract will in turn see India Ports Global Limited (IPGL) invest $370 million into "providing strategic equipment" and "developing the transport infrastructure of the port".
Asia markets mixed as investors assess China inflation data
Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reportedChina’s consumer price index climbed 0.3%...China’s consumer price index climbed 0.3% year on year
Japan’s first-quarter GDP expected to have contracted an annualized 1.5%
Kuwait approves new government amid political crisis
Kuwait's emir approved a new cabinet Sunday two days after he dissolved the parliament elected only weeks earlier, and he...The new government -- the small emirate's 46th -- is headed by Prime Minister Sheikh Ahmed al-Abdullah al-Sabah
MPs have previously accused ministers of corruption
Dubai 21st most richest city in the world, top in the Middle East
New York is the richest city in the world, with 359,500 millionaires and 60 billionaires, although the Bay Area of...New York is the richest city in the world, with 359,500 millionaires and 60 billionaires
Dubai has 72,500 millionaires, 212 centi-millionaires (100 mn +) and 15 billionaires
