Saudi Arabia’s Purchasing Manager’s Index rises to 57.2 points in Feb
RIYADH, SAUDI ARABIA - The seasonally adjusted Riyadh Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...Economy
China’s annual political conclave starts as economy sputters
Proceedings kick off Monday at 3:00 pm with the opening ceremony of China's People's Political Consultative Conference (CPPCC), which will...Economy
Solar power energizes GCC’s sustainability drive
Solar-photovoltaic panel in a GCC country produces twice as much output as it would in Germany or any similar European...Solar-photovoltaic panel in a GCC country produces twice as much output as it would in Germany or any similar European country, ZOLA Electric CEO Bill Lenihan tells TRENDS.
Solar power plants in the Gulf region can expect 1,750 to 1,930 hours of full-load operation per year, while European countries such as Germany register only 940 hours of load
EU mission to Armenia will fuel confrontation, says Russia
The mission has been launched during what Armenia describes as a "humanitarian crisis" ravaging the breakaway region of Nagorno-Karabakh. Since...Moscow has sought to maintain its role as a powerbroker between the ex-Soviet republics despite being bogged down in its offensive in Ukraine
On Monday, the EU launched a civilian mission to help monitor Armenia's border with Azerbaijan, bolstering the bloc's role in a region
Egypt, India launch ‘strategic partnership’ to boost trade
The two leaders agreed to increase Indian investments in Egypt, which currently stand at "over $3.15 billion" according to their...India is Egypt's seventh-largest trading partner, according to Cairo's central bank's data, with a joint statement touting record high of $7.26 billion during the last fiscal year
Modi hosted Sisi on Thursday as "guest of honor" for a Republic Day ceremony, marking the anniversary of the adoption of India's post-independence constitution
Year of Sustainability a springboard for global climate action, says Sheikha Shamma of UICCA
Containing the fallout of climate change, addressing related damage and losses, and meeting the relevant needs of developing countries are...Containing the fallout of climate change, addressing related damage and losses, and meeting the relevant needs of developing countries are key challenges, says Sheikha Shamma
The UAE’s leadership is prioritising the issue of climate change and has taken proactive steps to accelerate the pace of its climate action efforts, she adds
Tunisia milk market ‘collapsing’ as feed prices soar
Since October, many shops in Tunisia have restricted milk purchases to two cartons per person as consumers scramble for limited...The North African country's farming union says the price of cattle feed has risen by up to 40 percent in the past year
The dairy sector's woes have been exacerbated by years of drought, drying up reservoirs and making it harder for farmers to grow their own fodder
Realty may help GCC economies grow 3.3% this year
The Gulf countries are witnessing an increase in investors' confidence due to the region's comparatively good economic conditions, a latest...The Gulf countries are witnessing an increase in investors' confidence due to the region's comparatively good economic conditions, a latest JLL report highlights
Since mid-2020, the oil price has rebounded strongly, boosting consumer and investor confidence and resulted in significant financial infusions into the real estate market
Markets rise on better-than-expected US growth
Stock markets rose as US data showed the country grew at a slower pace in 2022 but finished the year...For 2022 as a whole, the US economy grew at a slower pace than the previous year, expanding 2.1 percent, the Commerce Department said.
Investors are also focused on the next move of the US Federal Reserve, which has hiked rates since last year in a bid to tame galloping inflation.
US economy slows in 2022, may result in lower Fed rate hikes ahead
Household spending and business investment remained positive in the final quarter last year though they slowed, while inventories and net...Economic activity has been moderating as the US central bank hiked the benchmark lending rate seven times last year.
Against this backdrop, the world's largest economy expanded 2.1 percent for all of 2022, down from the figure in 2021.
DGCX reports 16% growth in total volume of trades in 2022
DUBAI, UAE - Dubai Gold and Commodities Exchange (DGCX) Thursday announced its full-year market statistics for 2022, reporting 8.239 million...The DGCX is the largest and most diversified derivatives exchange in the Middle East.
DGCX saw steady trading in Indian Rupee, as market participants looked to hedge their exposure to one of the world’s fastest-growing economies.
Nokia 2022 net profit $4.7bn
The company's Q4 net profit surged to US$3.4 billion.Nokia's annual net sales grew 12 percent to US$27.1 billion (24.9 billion euros)
The company is engaged in a major competition to install 5G networks around the world
