• Apple loosens grip on iPhone apps

    Apple will permit developers to include buttons or links in apps.

    The move came after the US Supreme Court on Tuesday declined to hear appeals by Apple and Epic of a lower court ruling in which the iPhone maker was seen as the victor.

    Epic in 2020 launched a case aiming to break Apple's grip on the App Store, accusing the tech giant of operating a monopoly in its shop for digital services

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    WTO head ‘less optimistic’ for world trade due to Red Sea strikes

    The head of the international trade body said weaker global economic growth, "worsening geopolitical tensions, the new disruptions we see...

    Before the outbreak of war in Gaza, the WTO had predicted trade would grow by 0.8 percent in 2023 and projected growth of 3.3 percent this year.

    "We think there are a lot of downside risks to the forecasts we had made last year of 3.3% of growth of merchandise volumes this year. So we expect weaker performance," she said.

  • World Economic Forum foresees ‘significant economic slowdown’

    Davos, Switzerland--A new World Economic Forum report titled the Future of Growth Report 2024 foresees a significant economic slowdown, estimated...

    The WEF report offers a re-evaluation of global economic growth, introducing a new framework that takes a holistic look at GDP

    The report adds that high income economies in 2023 saw average annual GDP per capita growth of 1.01% over the past five years

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    Gold extends slide after Fed dampens March rate cut hope

    Dubai, UAE - Gold prices extended losses on Wednesday as the US dollar strengthened after comments from a Federal Reserve...

    Spot gold was down 0.2% at $2,023.49 per ounce, as of 0415 GMT, after stooping 1.3% in the previous session - its biggest single-day decline since 4th December 2023

    The US Dollar Index, which gauges the dollar's strength against a basket of major currencies from key US trading partners has surpassed the 103.30 level

  • Mawani reports rise in container handling

    The growth aligns with the aims of national logistics strategy.

    Saudi Arabia's overall ports recorded a 9.01% increase in annual container handling for 2023, reaching 11,380,302 TEU compared to 10,439,620 TEU in 2022

    Transshipment containers also experienced an 8.96% increase in volume, with 3,237,490 TEU transshipped in 2023 compared to 2,971,233 TEU in 2022

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    CBUAE balance sheet touches US$182 billion in November 2023

    Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to $182.43 billion at...

    The UAE central bank's balance sheet maintained a steady 21.2% growth rate throughout the first eleven months of 2023

    According to the CBUAE, investments and deposits also played a huge role, totaling $56.63 billion and $26.53 billion respectively

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    China’s economic recovery stalls as growth flags

    The country's national bureau of statistics said that GDP grew 5.2 percent to hit 126 trillion yuan ($17.6 trillion) as...

    But Wednesday's reading is an improvement on the three percent growth recorded in 2022

    China's exports -- historically a key growth lever -- dropped last year for the first time since 2016

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    Saudi startups soar amid surge in venture investments

    Saudi Arabia, which secured over 50 percent of MENA's total venture investments in 2023, strategically focuses on financial technology to...

    Saudi Arabia, which secured over 50 percent of MENA's total venture investments in 2023, strategically focuses on financial technology to support Vision 2030,

    The Saudi Venture Capital Company plays an important role, with more than $2.1 billion invested in various sectors, marking a new era of innovation and growth.

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    Counterfeit products cost Europe $13 billion, 200,000 jobs a year

    Paris, France - Counterfeit products -- mainly clothes -- cost the European economy 16 billion euros a year and result in...

    The findings, based on data from 2018 to 2021, show that fakes take the biggest toll on the clothing sector, costing 12 billion euros ($13.1 billion) annually

    The bulk of the counterfeiting occurred in just five EU members, with Germany, France, Italy, Spain and Austria accounting for half the yearly losses

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    AI revolutionizes UAE’s life sciences & healthcare

    "By leveraging advanced data analysis techniques to process extensive datasets from diverse sources, including genomic data, scientific literature, and clinical...

    AI is transforming drug discovery, diagnostics, and personalized treatments, marking a new era in medical research.

    The UAE, especially Abu Dhabi, is setting global standards in longevity and healthcare integration for better future.