US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...Business Economy
Washington hails ‘substantive progress’ after trade talks with China
Washington expressed optimism at the end of a weekend of trade talks with China aimed to de-escalate trade tensions sparked...Economy
IMF, World Bank say Gaza and Red Sea attacks risk to world economy
World Bank President Ajay Banga said that "what's going on Gaza, but also the challenges of Ukraine... and the Red...The Israel-Hamas war raging since October has already hit the Middle East and North Africa region's economy, the IMF chief said.
She said that if there are other "consequences in terms of where the fighting goes, it could be more problematic for the world as a whole".
Energy transition led Saudi Arabia to halt oil expansion, says official
RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to...Aramco announced on January 30 that the energy ministry had ordered it to maintain production capacity at 12 million barrels per day.
Officials in the world's biggest crude exporter did not explain the move, leaving analysts to speculate that it reflected lack of confidence
GPSSA issues circular on pensions, gratuity in UAE
ABU DHABI, UAE – The Emirates General Pension and Social Security Authority (GPSSA) has issued a circular to government and...The circular included limiting the procedure of deduction from the pension or end-of-service gratuity for the benefit of GPSSA's debt.
In cases of unlawful disbursement, GPSSA has the right to deduct from other beneficiaries' shares, proportional to their entitlements.
Global changes call for adaptable fiscal policies
He highlights the UAE's strategic priorities, including the future of fiscal policy, the application of sustainable fiscal policies to foster...The Eighth Arab Fiscal Forum, held in Dubai, focuses on sustainable development and economic resilience.
Key discussions includes balancing public revenues, managing debt, and combatting climate change.
Bahrain to host ‘smart cities summit 2024’ in March
Manama, Bahrain--Bahrain will hold the seventh edition of the "Bahrain Smart Cities Summit 2024" from March 5 to 6 under...The two-day long summit will highlight the best global practices in AI, smart housing, sustainable architecture, and food security
It will feature an exhibition showing the latest solutions for smart buildings, sustainable energy systems, and artificial intelligence
In Middle East, ‘manufacturing’ is a new buzzword
From Saudi Arabia to the UAE and Qatar to Kuwait, governments across the region compete to jumpstart industrial sector but...The industrial sector will contribute up to $1trillion annually to the GDP of the region
Many experts estimate the sector can generate up to 15 million jobs in the next decade
In Middle East, ‘manufacturing’ is a new buzzword
Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But...The industrial sector will contribute up to $1trillion annually to the GDP of the region
Many experts estimate the sector can generate up to 15 million jobs in the next decade
Red Sea Global, Riyad Bank sign agreement on $522m financing
TABUK, SAUDI ARABIA - Red Sea Global (RSG) has completed a US$522 million (SAR2 billion) financing agreement with Riyad Bank,...Red Sea Global will develop the highly anticipated Four Seasons Resort at The Red Sea destination.
The Four Seasons Resort, situated on Shura Island, is set to be a luxury property offering 159 exquisite guest rooms.
WEF24: Tech investment drives China’s growth
China's GDP is expected to grow 5 percent this year as the country has significantly recovered from COVID-19, Xiaoyan Zhang...China's GDP is expected to grow 5 percent this year as the country has significantly recovered from COVID-19, Xiaoyan Zhang of Tsinghua University tells TRENDS.
'People have started to spend more, and there are a lot of innovations happening in China; it will take a lot of work to recover, but we're confident," she adds.
Climate change parches Morocco breadbasket amid policy pitfalls
Berrechid, Morocco -- Around this time every year, Moroccan wheat farmer Abderrahim Mohafid is usually preparing for his spring harvest, but...Morocco has seen only about half the rainfall it did during the same period last year, the country's water minister Nizar Baraka told AFP.
The sector accounts for 14 percent of Morocco's exports, with exported produce seen as more profitable than that sold in domestic markets.
