Qatar’s non-energy private sector shows strong growth in 2024
Doha, Qatar – Qatar’s non-energy private sector recorded robust growth in the final months of 2024, according to the latest...Economy
Females make up 37.6% of the GCC population of 57.6 million
Muscat, Oman - The population of the six GCC countries reached 57.6 million in 2023, compared to 56.6 million in...Economy
Iran, Turkiye ink contract to connect power grids
Ankara, Turkiye – Iran and Turkiye signed contract to connect their power grids during the visit of Iranian president Ibrahim...The Khoy-Van grid line is set to become operational as part of the agreement between the Iran Grid Management Company and the Turkish Electricity Transmission Company
The contract signed by Iran’s Mehdi Moghimzadeh and Turkiye's Orhan Kaldirim clears the decks for connection of the 400-kilovolt BtB HVDC line between Khoy (Iran) and Van (Turkiye)
Paris stocks hit record thanks to luxury
Europe's main stock markets shot higher, with Paris closing at a record high as shares in LVMH surged on record...Hong Kong stocks slumped after rallying for much of the week, as traders awaited guidance on more Chinese stimulus.
Oil prices fell as traders banked profits from a strong week for crude.
US Federal Reserve’s favored inflation gauge rises before rate decision
The US Federal Reserve's favored measure of inflation ticked higher last month, according to government data published. The latest announcement...The closely watched "core inflation" measure, which strips out volatile food and energy costs, continued to ease.
This will likely reassure the Fed that trends are moving in the right direction, despite the latest uptick in headline prices.
Indians queue for Israel jobs as war in Gaza rages
India's urban unemployment rate -- the percentage of people wanting work who cannot find a job -- dipped to 5.1...Recruiters are aiming to fill a labour shortage in Israel exacerbated by nearly four months of fighting against Palestinian fighters in Gaza
For the hundreds of Indians in line, almost all men, the chance of a skilled construction job in Israel - and wages up to 18 times higher - outweighs their fears
Riyadh Season 2023 on track to outshine previous edition with over 15m visitors
Riyadh, Saudi Arabia - Riyadh Season 2023 is poised to surpass the record set in 2021, with over 15 million...The accomplishment was announced on Wednesday, highlighting the success in achieving the target number of visitors before the conclusion of the event
Comparatively, the first edition of Riyadh Season in 2019 attracted more than 9.6 million visitors, while the third edition in 2022 saw a turnout of over 13 million visitors
US economy defy expectations to grow stronger in Q4 2023
Washington, US - US economic growth was stronger than expected in the final months of 2023, government data showed Thursday, offering...The US economy expanded at an annual rate of 3.3 percent in the fourth quarter, fueled by a resilient jobs market and consumer spending, the Commerce Department said
The fourth quarter GDP jump "reflected increases in consumer spending, exports, state and local government spending" and other areas, it added
ECB to urge patience on rate cuts in battle against inflation
The central bank is tipped to leave rates unchanged for a third consecutive meeting, keeping the benchmark deposit rate at...Frankfurt institute launched an unprecedented rate hiking cycle in mid-2022
ECB watchers will be more interested in president Christine Lagarde's press conference
Dubai wins right to host 349 business event in 2023
DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city...Driven by Dubai Business Events, the wins reflected a robust 49 percent increase in successful bids compared to 2022.
DBE brought a citywide offering to the global market that resonated with the core needs of the business events industry.
Saudi Arabia set to launch advanced means of air mobility
Riyadh, Saudi Arabia - Saudi Arabia is planning to start air mobility that is most advanced and safest in the...The Saudi General Authority of Civil Aviation is spearheading the Advanced Air Mobility (AAM) initiative that encompasses a spectrum of innovative solutions
The initiative seeks to ease traffic congestion, enhance accessibility to remote areas, and contribute to overall economic and social development
Global HQs help Saudi youth boost skills, get jobs
The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the...The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the Kingdom's diversification.
Riyadh aims to become a global economic hub, drawing international experts and fostering knowledge transfer, with potential economic benefits estimated at $45 billion.
