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
US and China meet in ‘important step’ towards de-escalating trade war
Geneva, Switzerland - Senior US and Chinese officials were meeting in Geneva Saturday in what Chinese state media described as...Economy
OPEC Fund grants US$30m loan to Uganda to build key road link
Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a...The construction of the road will provide better, faster and safer transport connections in the central-east region of the country
The Islamic Development Bank (IsDB) along with the government of Uganda will co-finance the road project in the African nation
UAE real GDP to grow 5.3 percent in 2024: S&P Global
Abu Dhabi, UAE-- The UAE's real GDP will grow 5.3 percent in 2024, compared to 3.4 percent in 2023, according...The ratings agency said the country's high oil production and support from non-oil sectors will drive economic growth in the UAE in 2024
The agency affirmed that several banks in the UAE achieved record profits in 2023 due to strong credit growth in a rising interest rate climate
stc Group inks several pacts
The pacts were signed at the PIF’s Private Sector Forum.The annual Private Sector Forum brings together policymakers, key local private sector players, visionaries and industry leaders.
The agreements signed covered a range of strategic stc Group objectives, from sustainability to digital transformation.
‘Innovation is crucial for UAE’s energy efficiency’
"Through effective and constructive collaboration with various local and international partners, we have succeeded in establishing an integrated energy transition...The UAE's Department of Energy's integrated system focuses on clean and renewable energy to achieve climate neutrality.
Investment in youth and their innovative ideas is essential for building a sustainable future, says DoE's Awaidha Murshed Al Marar .
Saudi Crown Prince says will work for Gulf unity and prosperity of its people
Riyadh, Saudi Arabia — Saudi Crown Prince Mohammed bin Salman on Wednesday said he will make efforts to achieve the unity...Mohammed bin Salman said this while co-chairing the 3rd meeting of the Saudi-Bahraini Coordination Council with his Bahraini counterpart
The two leaders witnessed the announcements about key joint projects and signing of a number of agreements and memoranda of understanding
US lawmakers reject US$17.6 billion Israel aid bill
Republicans in the House of Representatives scheduled the vote after the Democratic-led Senate released a bipartisan bill Sunday pairing billions of dollars for...The standalone Israel bill would have provided $17.6bn in military aid for the country
167 Democrats voted no after Biden had threatened to wield his veto
44% of workers’ core skills will be disrupted by 2027: WEF
The world of work is changing fast. By 2027, businesses predict that almost half (44%) of workers’ core skills will...The global unemployment rate could rise from 5.1% to 5.2% in 2024, with an extra two million workers expected to be looking for jobs
The impact of AI on jobs was not going to be "an employment apocalypse", but that reskilling, upskilling would be key to managing the transition
Tunisia parliament votes to let central bank finance budget
The parliament ratified by a huge majority of 92 votes out of 133 an amendment to an article that prohibited...The country's finance minister said the funds were "not intended to finance current expenses"
The IMF agreed in principle, in October 2022, to a loan of around US$2 billion to Tunisia
WEF24: GCC poised for growth amid global challenges
The region is on a growth track due to modernization, education, and broad integration with global economies, Joshua Friedman of...The region is on a growth track due to modernization, education, and broad integration with global economies, Joshua Friedman of Canyon Partners tells TRENDS.
Friedman highlights global economic complacency, stressing the importance of addressing sovereign debt and corporate borrowing, while noting a few bright spots.
Iran agricultural, food exports hit US$4.8bn in 10 months
TEHRAN, IRAN – The country has exported more than 6.7 million tons of agricultural and food products worth US$4.8 billion...Of this amount, 4,944,481 tons worth $2,930,585,728 were dedicated to the export of agricultural products.
While 1,133,710 tons worth US$931,961,158 were dedicated to the export of food products.
