Economy - TRENDS MENA

Global economic challenges have led the UAE to review priorities and investment trends, with a focus on five key sectors:...
The UAE economy recorded its fastest growth rate in over a decade despite the global economic slowdown.
The IMF expects the UAE’s non-oil economy to grow by about 4 percent in 2023 and accelerate over the medium-term.
The Chinese government has confirmed Yi Gang as governor of the People's Bank of China, against expectations that retirement-age Yi...
At a meeting of China's rubber-stamp national legislature to appoint the country's new cabinet, Yi Gang was confirmed as governor of the People's Bank of China
Xi has stacked the top levels of government with loyalists as he cements his grip on power, with trusted ally Li Qiang confirmed as premier on Saturday
The FDIC on Friday took over SVB, a major lender to the tech world, in the second-largest bank failure in...
It is widely believed that the process of liquidating the bank's assets can drag on for a long time, with no certainty of just how much will be recovered
As per the California Department of Financial Protection and Innovation withdrawal orders from SVB reached a breathtaking $42 billion
Iraq has scuttled a big smuggling operation of bringing into the country a large consignment of three million pills of...
In recent months, Iraqi security forces have ramped up operations against such smuggling bids, with several high-profile drug seizures reported
Iraqi police, a few weeks ago, announced a big seizure of more than six million pills of the stimulant in a major drug bust
Around one-third of countries are likely to go through a recession, Sir Masood Ahmed, President of the Center for Global...
One-third of the world is expected to go through a recession in 2023 due to slowing economies, high inflation, and other factors
Oil-exporting countries are likely to be less impacted, while big importers of oil, gas, food, and fertilizers may face more difficulties
Li Qiang, one of Chinese President Xi Jinping's trusted allies, was confirmed as premier, as Xi cements his influence on...
Li Qiang received nearly every vote from the over 2,900 delegates at the National People's Congress.
Journalists were asked to leave the chamber as deputies, mostly dressed in dark suits, marked their ballots.
Officially closed and put into receivership by US authorities on Friday, SVB was at risk due to a heavy concentration...
SVB's woes are the result of "idiosyncratic stresses and not one that we see as systemic that would affect the banking industry," said CFRA Research's Ken Leon
A note from analysts at Morgan Stanley put it simply, saying, "We want to be very clear here ... we do not believe there is a liquidity crunch facing the banking industry."
SAN FRANCISCO, US - Facebook owner Meta is working on a new "text sharing" social media platform, it said Friday, in...
Since billionaire Elon Musk's takeover of Twitter in October, the influential website has suffered outages, layoffs.
Several advertisers have left the platform over the alleged lack of content moderation in recent times.
ABU DHABI, UAE - In his capacity as the Ruler of Abu Dhabi, President Sheikh Mohamed bin Zayed Al Nahyan...
An affiliate of the Supreme Council for Financial and Economic Affairs, the company will support the emirate’s integrated transport ecosystem.
It will develop transport systems, and contributing to effective and sustainable transport services for citizens and residents.
The 47-year-old ship has not been serviced since Yemen's devastating civil war broke out in 2015 and was left abandoned...
UNDP signed a contract to purchase a crude carrier from major tanker company Euronav that will head to Yemen to remove the oil from the beleaguered FSO Safer
The United States, which has contributed $10 million, welcomed the UN announcement and called on other nations as well as private donors to fill the funding gap