Economy - TRENDS MENA

In a big move, Saudi Arabia appoints Aiman al-Mudaifer as NEOM’s interim CEO, a strategic choice to advance the futuristic...

UN chief Antonio Guterres said he "strongly" believed the deal can promote stability in the region and create "enhanced prosperity...
The agreement was signed separately by Lebanon's President Michel Aoun in Beirut and by Israel's Prime Minister Yair Lapid in Jerusalem
US President Joe Biden hailed the "historic" deal, that comes as Western powers clamour to open up new energy production and reduce dependence on Russia
Volatile markets were mostly trading up after the ECB announced an expected hike to interest rates in the face of...
The euro lost against the greenback on Thursday, after having traded above one dollar for the first time since last month on Wednesday.
After fluctuating for much of the day, Eurozone stocks were flat by late afternoon trading.
UAE President Sheikh Mohamed bin Zayed Al Nahyan and Federal Chancellor of the Republic of Austria Karl Nehammer met in...
Leaders of UAE and Austria affirmed their interest in strengthening bilateral relations, especially in technology, energy, innovation and food security.
The two leaders underscored the importance of taking action to ease tension and promote dialogue to resolve crises with humanitarian, economic and food security implications.
The US economy rebounded in the third quarter, expanding for the first time this year in welcome news for President...
The latest GDP figures reflect increases in exports, consumer spending and government spending, said the US Commerce Department.
Gross domestic product rose at an annual rate of 2.6 percent in the July to September period, according to Commerce Department data.
Egypt and International Monetary Fund have reached a staff-level agreement on the economic policies to be supported by a 46-month...
The Extended Fund Facility with a requested access of about US$3 billion, aims to provide Egypt with balance of payments and budget support, said an IMF official.
EFF will also help in catalyzing additional financing from Egypt's international and regional partners to maintain economic stability.
The IMF had demanded the devaluation as a condition of the loan and the North African nation is among the...
The IMF deal is also conditioned on reforms that include further cuts to subsidies, bringing yet more pain for struggling households.
In Aug, global investment firm Goldman Sachs estimated that Egypt would need about $15bn in funding to be able to repay its foreign debt, currently estimated at about $150bn.
Retail sales declined in its main markets Europe and the US.
Volvo Cars was hit hard by rising raw material prices, record inflation, higher interest rates and the war in Ukraine.
Revenue rose to $7.28 billion boosted by "robust" demand for the company's SUVs.
Firm said surging oil, gas prices helped it post massive profits.
Net profits at TotalEnergies soared 43 percent from the same period last year with record performances for its natural gas and liquefied natural gas activities.
The firm has now earned $17.3 billion over the first nine months of the year, more than the $16 billion in profits it posted last year.
Switzerland's second-biggest bank launched a strategic review aimed at putting an end to a series of scandals that have shaken...
Credit Suisse also said expects to run the bank with approximately 43,000 staff by the end of 2025 compared to 52,000 at the end of September
Its investment bank suffered a loss of 3.7 billion Swiss francs in 2021 and backed that up with a 992 million Swiss franc loss in the first half of 2022
It, however, reported a 3.79% increase in sales.
The third-quarter results are the first year-on-year decline in profit in nearly three years for Samsung Electronics, the world's biggest smartphone maker
Operating profit for July to September 2022 fell to 10 trillion won ($7 billion), down from 15.8 trillion won for the same period last year, the company said