44% of Saudis are young, making up 78% of the labor pool
Riyadh, Saudi Arabia - Saudi Arabia on Monday launched "Youth Development Strategy" to help its youth to play a critical...Economy
Saudi Arabia launches global tourism campaign featuring Messi
Riyadh, Saudi Arabia -- Saudi Arabia's national tourism brand, "Saudi Welcome To Arabia," has launched a new global marketing campaign...Business Culture & Society Economy Tourism
Creator economy rides on NFTs for growth, expansion
Blockchain technology has put creators at the center and allows them to capture and distribute their value efficiently, safely and...Due to high engagement yet low revenues on social media platforms, many creators are looking for new ways to monetize, says Franck Mandon, COO of the MILLION platform
With a roughly US$ 20 bn market value, it's the fastest-growing sort of small business, with each creator operating more like a startup than an individual, he adds
Supply risks still haunt market despite high oil prices: IEA
The Paris-based agency cautioned that the global economic recovery could be derailed unless governments take measures to reduce consumption and...The IEA now expects oil demand to rise this year to 99.2 million barrels per day (mbd) and to 101.3 mbd next year.
Meanwhile, supply climbs to 100.1 mbd this year. But even if it hits an expected record of 101.1 mbd next year, it will fall below demand.
Libya’s National Oil Corporation lifts force majeure at key terminals
Force majeure is a legal measure allowing companies to free themselves from contractual obligations in light of circumstances beyond their...Its latest such move had been in late June, when the NOC said Libya had foregone some $3.5 billion due to a blockade of eastern oil facilities since mid-April.
The blockade on the oil facilities was enforced by groups demanding Dbeibah's departure and a handover to the rival administration of Fathi Bashagha.
UAE economic activity spikes in 1H22 on back of easing pandemic, high oil prices
Confidence in the positive short-term economic outlook increased despite the current decline in the Purchasing Managers' Index, the MOMR noted.Confidence in the positive short-term economic outlook increased despite the current decline in the Purchasing Managers' Index, the MOMR noted
The June PMI declined to 54.8 from 55.6 in the prior month, marking the 19th-straight month of growth in non-oil private economic activities, the report added
Sri Lanka president takes refuge in Maldives, expected to resign
Sri Lanka's embattled president flew out of his country to the Maldives early Wednesday, in a probable prelude to his...Gotabaya Rajapaksa had promised at the weekend to resign on Wednesday and clear the way for a "peaceful transition of power" after fleeing his official residence in Colombo
Rajapaksa is accused of mismanaging the economy to a point where the country has run out of foreign exchange to finance even the most essential imports
Euro slides to be at par with dollar as recession fears rise
The euro struck parity with the dollar for the first time in nearly 20 years on Tuesday as a cut...The European single currency hit exactly one dollar -- its lowest level since December 2002 -- before bouncing back somewhat
But Wall Street stocks weakened as the session progressed, as investors nervously await Wednesday's consumer price report
Russia and Ukraine seek to break grain impasse in Turkey
The four-way meeting in Istanbul comes with Russia's invasion of Ukraine showing no sign of abating.The four-way meeting in Istanbul comes with Russia's invasion of Ukraine showing no sign of abating
Ukraine is a vital exporter of wheat and grains such as barley and maize and supplies nearly half of all the sunflower oil traded on global markets
Brent oil closes under $100/barrel for first time since April
Brent oil futures closed Tuesday under $100 a barrel for the first time in three months as recession worries cloud...The US benchmark, West Texas Intermediate, fell 7.9 percent to finish at $95.84 a barrel
The drop in the currency market is "raising concerns that Europe is going into recession
Closing the gender gap in MENA may take 115 years
Closing gender gaps remains a critical driver of national prosperity. Countries that invest in all of their human capital and...At 63.4%, Middle East and North Africa have the second-largest gender gap yet to close, with the UAE, Israel and Lebanon being the highest performing countries
After a big COVID hit, the gender gap hasn’t bounced back across the globe, according to the World Economic Forum’s Global Gender Gap Report 2022
Gulf countries witness dip in unemployment rates
The Gulf countries have taken several measures to increase the local employment, especially in UAE and Saudi Arabia. This week's...The Gulf countries have taken several measures to increase the employment, especially in the UAE and KSA. This week's TRENDS Infographic looks at job situation in the region
The measures have led to an increase in employment in most of the GCC countries, but the Ukraine-Russia crisis, global economic turbulence and Covid-19 may pose challenges
