China’s Xiaomi to invest nearly $7 bn in chips
Chinese tech giant Xiaomi will invest 50 billion yuan ($6.9 billion) in developing high-end smartphone chips, the firm's founder said...Technology
US, China to slash tariffs as Trump to speak to Xi
After the first meetings between Washington and Beijing since Trump ratcheted up his trade war, the world's two biggest economies...Economy
WEF24: Catalyzing investment, trade transform Africa
Addressing infrastructure and climate change is crucial for Africa's development, British Robinson, the Coordinator of the Prosper Africa Initiative, tell...Addressing infrastructure and climate change is crucial for Africa's development, British Robinson, the Coordinator of the Prosper Africa Initiative, tell TRENDS in an interview.
Prosper Africa is a national security initiative aimed at providing supportive and positive assistance to the continent, ensuring its efforts are beneficial and not exploitative.
GCC, OPEC boost ties to stabilize global oil markets
During his meeting with OPEC Secretary General Haitham Al Ghais, Albudaiwi praises the significant efforts of OPEC and its crucial...GCC commits to global oil market stability through OPEC cooperation, says GCC Secretary General Jasem Mohamed Albudaiwi.
OPEC predicts strong oil demand growth in 2024, led by economic activity in China and air travel recovery.
Saudi Arabia’s trade surplus remains stable at $26bn
Riyadh, Saudi Arabia - Saudi Arabia's trade surplus remained stable at SR97 billion ($25.8 billion) in the fourth quarter of...The report indicates a 14.4 percent decline in merchandise exports during the fourth quarter compared to the same period in 2022
Non-oil exports experienced a 1.2 percent decrease, with the chemical industry products, constituting a third of non-oil exports, witnessing an 18 percent decline
Female founders flourish in UAE’s startup ecosystem
Over the past decade, the UAE has become a global hub for innovation and entrepreneurship, attracting significant interest from international...Over the past decade, the UAE has become a global hub for innovation and entrepreneurship, attracting significant interest from international and female-led startups.
Supported by visionary leadership and progressive policies, this surge ushers in a transformative era for the UAE, highlighting diversity, creativity, and sustainable development.
WEF24: Innovation and diversification drive UAE growth
The UAE's proactive approach is helping it in shaping a dynamic and prosperous future, says UAE's Economy Minister Abdullah bin...The UAE's proactive approach is helping it in shaping a dynamic and prosperous future, says UAE's Economy Minister Abdullah bin Touq Al Marri.
Al Marri emphasizes the critical role of collaboration and visionary leadership in steering through the complexities of today's fast-paced world.
Boursa Kuwait posts $51m net profit
Operating profit for 2023 was recorded at US$59 million.Total operating revenues of US$99 million were recorded for 2023.
Consolidated assets came in at approximately US$386 million in 2023.
Stock markets diverge before Nvidia results, Federal Reserve minutes
Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve...In the eurozone, the Frankfurt and Paris stock markets edged higher in afternoon deals.
Hong Kong and Shanghai bourses jumped after Beijing's latest measures to boost China's stuttering economy.
Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023
DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...The total number of F&B companies registered with Dubai Chamber of Commerce stood at 22,585 at the end of 2023.
Dubai Chamber of Commerce launched 11 business groups dedicated to the industry, eight of which were set up in 2023.
Oil may rise to $100, gold to hit $3,000 by 2025, says Citi
ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...Analysts say gold is currently trading at $2,016 and could surge by about 50 percent if central banks dramatically increase purchases.
Another factor that could drive gold prices is the global economy's deep recession, which could prompt the Federal Reserve to cut rates rapidly.
Saudi National Bank launches US dollar-denominated sukuk
RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle.The sukuk are offered to qualified investors...The sukuk are offered to qualified investors inside and outside Saudi Arabia.
The amount and sukuk’s terms of offer will be subject to market conditions.
