Bahrain: Financial pioneer of the Gulf
In the post-digital world, Bahrain’s center of activity, the city of Manama, has stiff yet healthy competition from the GCC...Economy
Backed by its sovereign wealth fund, Saudi chases AI ambitions with homegrown firm pitched to global investors
The company, launched in May, is bankrolled by Saudi's powerful Public Investment Fund, which has played a key role in...Economy
Nobel economist warns of AI dangers amid “amazing possibilities”
Washington, United States - A winner of this year’s Nobel prize in economics warned Monday that artificial intelligence offers "amazing...The remarks from Canadian Peter Howitt, professor emeritus at Brown University in the United States, came amid growing concerns about how AI will impact society and labor market
Howitt was one of three economists honored Monday by the Royal Swedish Academy of Sciences for work on how technology drives and affects growth
As Trump mulls imposing additional 100% tariff, China says will ‘fight to the end’ in trade war
China said on Tuesday it was ready to "fight to the end" in a trade war with the United States..."On the matter of tariff wars and trade wars, China's position remains consistent," an unnamed commerce ministry spokesperson said
Concerns spiked over the weekend that the trade war between the world's top two economies will worsen after Trump announced extra 100 percent tariffs on all Chinese goods
AI or inequality tipped for economics Nobel
Stockholm, Sweden - The Nobel economics prize wraps up the 2025 season when it is announced on Monday, as experts...Last year it went to Turkish-American Daron Acemoglu and British-Americans Simon Johnson and James Robinson for research into wealth inequality between nations
For Micael Dahlen, a professor at the Stockholm School of Economics, it is important to look at the disciplines recognised in previous years
China accuses US of ‘double standards’ over new tariffs threat
Beijing, China -- China accused the United States of "double standards" on Sunday, after President Donald Trump threatened an additional...China said on Friday that it would impose "special port fees" on ships operated by and built in the US, calling it a "defensive action."
The US leader also threatened to pull out of a mooted meeting with Xi at the Asia-Pacific Economic Cooperation summit in South Korea.
Trump says no reason to meet Xi, threatens ‘massive’ China tariffs
US President Donald Trump said Friday he no longer feels the need for a summit with Chinese leader Xi Jinping...In a lengthy and unexpected Truth Social post, Trump railed against China imposing export controls on rare earth minerals -- a critical component in modern technology
"Some very strange things are happening in China! They are becoming very hostile," Trump said in the post, which he sent as he headed for medical check-up at a military hospital
Silver price hits decades high as gold rush eases
Stock markets, meanwhile, were mixed as traders weighed a slew of issues: massive AI investments, corporate results, US interest rates,...The price of silver topped $50 an ounce for the first time since 1993 in the wake of sister safe-haven gold soaring to record highs.
The metal hit $50.1900, while gold retreated after hitting a record above $4,000 an ounce on Wednesday.
Gold tops $4,000 for first time on political, economic worries
New York, United States - Gold topped $4,000 an ounce for the first time Wednesday as investors flocked to the...US and European stock markets rose while Asian equities fell as investors also kept tabs on the AI investment boom and the prospect of further US interest rate cuts this year
Gold, considered a safe investment in times of uncertainty, reached an all-time high of nearly $4,060 an ounce Wednesday with silver also rising close to a record high
WTO hikes 2025 trade growth outlook but tariffs to bite in 2026
The WTO raised its forecast for trade volume growth in 2025 to 2.4 percent -- up from 0.9 percent in...In an unusual move, the global trade body has revised its estimates several times this year due to uncertainties surrounding the new tariffs imposed by the Trump administration.
Since returning to office in January, Trump has slapped several waves of new tariffs on imports entering the United States.
Tech leaders unite to propel future-critical sectors at GITEX GLOBAL 2025
Dubai, UAE: With capabilities of AI advancing every year, its potential to address challenges once thought unsolvable is rapidly expanding,...The event brings together the world’s most advanced AI and tech enterprises and leaders from 180 countries, from 13-17 Oct at Dubai World Trade Centre.
Expand North Star celebrates its 10th edition from 12-15 October at Dubai Harbour.
OpenAI signs multi-billion dollar chip deal with AMD
OpenAI signed a multi-year partnership Monday with chipmaker Advanced Micro Devices as the ChatGPT-maker continues an investment spree to secure...The companies announced the plan to develop AI data centers that the chipmaker said would bring in tens of billions of dollars in new revenue over the next five years
AMD's share price surged 35 percent when markets opened on news of the agreement that would see the company deliver six gigawatts worth of chips to the ChatGPT-maker
