Saudi Arabia grapples with over 1 million tons of annual vegetable waste
Riyadh, Saudi Arabia - Saudi Arabia faces substantial annual losses in its agricultural sector, including 234,000 tons of tomatoes and...Economy
MENA region could gain $385bn from women reentering workforce: survey
Doha, Qatar - The women returning to the workforce following a career break have the potential to contribute nearly US$385bn...Economy
US consumer inflation high, Federal Reserve under stress
US consumer inflation edged down in February but remains elevated, according to government data, adding pressure to the Federal Reserve...Between January and February, the consumer price index rose 0.4 percent, slowing from the month prior as well.
The food index in February remains nearly 10 percent above last year's level, with prices of dining out still high.
UAE has incredible position in the world: Salesforce CEO
All industries and businesses should focus on net zero emissions, nature positivity, net zero business and eventually a net zero...All industries and businesses should focus on net zero emissions, nature positivity, net zero business and eventually a net zero world, Salesforce chief Marc Benioff tells TRENDS
Benioff advocates for global commitment to green initiatives, net zero emissions, and has expedited One Trillion Tree initiative to tackle climate change
Grain deal talks ongoing after Russian proposal, says UN
Consultations to prolong Ukrainian grain exports deal are continuing, the UN said, after a Russian proposal for just a 60-day...Russia had agreed to extend the deal which is due to expire on Saturday, for 60 days.
Ukraine said that "contradicts" the original agreement but did not reject the proposal.
UAE GDP grew by 7.6%, FDI flows surged to $172bn in 2022: Minister
New Delhi, India - The GDP of the UAE went up by 7.6 percent in 2022 and the FDI inflows...The country’s non-oil foreign trade also witnessed unprecedented growth as it crossed the $0.5 trillion and $59 billion mark, Bin Touq said
Economic fragmentation is likely to cost us dearly because the greater the fragmentation of trade, the greater the economic costs, he added
UAE issues license for electric vertical takeoff and landing aircraft
DUBAI, UAE - The UAE Regulations Lab has issued a license for an electric cargo aircraft to promote eco-friendly transportation...The license aims at reducing carbon emissions by encouraging the adoption of clean energy and leveraging technology.
It also aims at using innovation to redefine the logistics sector's future and its impact on the environment and climate.
Lebanese pound plunges 100,000 to dollar as banks go on strike
Officially pegged at 15,000 to the dollar, the pound was trading at 100,000 against the greenback, dealers said -- a...The currency plunge has triggered price hikes including on fuel, food and other basic goods, with supermarkets this month starting to price items in dollars.
Despite the gravity of the crisis, the political elite, which has been widely blamed for the country's financial collapse, has failed to take action.
‘Morocco economy robust, 80% of exports manufactured products’
The country managed to restrict inflation to 6 percent and sustain jobs despite challenges, the North African nation's Industry and...The country managed to restrict inflation to 6 percent and sustain jobs despite challenges, the North African nation's Industry and Trade Minister Ryad Mezzour tells TRENDS.
Moroccan automotive industry produced 700,00 cars in 2022 and we expect the production to hit 1 million in the next three years, adds Mezzour during the interview
European lawmakers demand tax on ultra-rich individuals
Most of the MEPs who signed are from Green or left-wing parties. They were joined by non-governmental organizations, including Oxfam,...A previous landmark deal for a global minimum 15 percent tax on multinational businesses is set to start to go into force this year
French MEP Aurore Lalucq and economist Gabriel Zucman propose a 1.5 percent tax for ultra-rich with wealth of $54 million or more
Saudi banking sector poised for gains, after profitable 2022: BCG
Riyadh, Saudi Arabia--Saudi Arabia’s banking sector grew in 2022 on the back of potent revenue growth and is set for...According to Boston Consulting Group, the kingdom’s banking profits after taxes have grown an average of 7.9 percent per year since 2016
The report argues that in spite of the economic instability worldwide inflation has not been an issue in the Middle East
Oil prices fall 2% as Silicon Valley Bank demise rattles markets
New York, United States - Oil prices fell over 2 percent in volatile trading on Monday as the collapse of...US West Texas Intermediate crude futures (WTI) dropped $1.88, or 2.5 percent, to $74.80 a barrel. WTI earlier declined to $72.30 a barrel, its lowest price since December
In the past twelve months, the oil market has absorbed the impact of Russia's invasion of Ukraine and the sanctions imposed in response by the United States and the EU
