Trump hails ‘total reset’ in US-China trade relations as talks continue
Geneva, Switzerland - US President Donald Trump hailed a "total reset" in US-China trade relations, ahead of a second day...Economy
Global rice output in 2024/25 likely to expand by 1.5%: FAO
Rome, Italy -- The Food and Agriculture Organization of the United Nations (FAO) released a new Cereal Supply and Demand...Economy Geostrategy
UAE and UK seek to boost economic cooperation
Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri,...The discussions to boost trade ties took place during a UAE delegation's visit to the UK to participate in Investopia London, to be held on January 31, 2024
The UAE minister said the relations between the two countries serve as a prime example for advanced strategic ties and exceptional economic partnership
Norway’s sovereign wealth fund posts record US$213bn profit
Oslo, Norway - Norway's sovereign wealth fund, the world's biggest, said Tuesday it raked in a record profit of 2.2 trillion...Fueled by revenues from Norway's state-owned oil and gas companies, the fund is aimed at financing future spending in the generous welfare state
Around 71 percent of its portfolio was dedicated to equities, with stakes in 8,859 companies worldwide -- or 1.5 percent of all listed stocks
IMF lifts global growth forecast citing unexpected ‘resilience’
The updated figure, released in the latest World Economic Outlook (WEO) report, is 0.2 percentage points higher than the International...Among G7 advanced economies, growth in European countries looks set to remain weak, reflecting ongoing challenges, while Japan and Canada are expected to fare slightly better.
While many Asian economies remain buoyant, Europe continues to cast a long shadow over the global outlook, with the IMF highlighting "notably subdued growth in the euro area."
25,647 new economic licenses issued in Abu Dhabi in 2023, says ADDED report
ABU DHABI, UAE - The Abu Dhabi's “Business Activity Report” for the year 2023, issued by the Abu Dhabi Department...24,143 commercial sector licences were issued in 2023, comprising 94.1 percent of the total.
Active licences in Abu Dhabi rose to 143,617, a growth of 10.9 percent compared to the year 2022.
Saudi Aramco halts plan to raise production capacity
Tuesday's announcement was not expected to have an immediate effect on production or exports. After a series of oil supply...Riyadh announced the planned production capacity increase in October 2021, the same month it pledged to achieve net zero carbon emissions by 2060
That applies to emissions that are produced directly by Aramco's industrial sites, but not the CO2 produced when clients burn Saudi oil in their cars
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...Saudi Arabia on Monday launched "Youth Development Strategy" to help its youth to play a critical role in the national economy
Aligned with the Saudi Vision 2030, the strategy seeks to create an enabling environment for the progress and growth of young people
WEF24: AI stays at forefront of energy revolution
There is a need for global policy alignment to meet the rising energy demands and tackle climate change challenges, Marco...There is a need for global policy alignment to meet the rising energy demands and tackle climate change challenges, Marco Arcelli, CEO of ACWA Power, tells TRENDS.
AI revolutionizes energy production, including water desalination, spearheading the irreversible shift towards renewable sources and green molecules, Arcelli adds.
SMEs drive economic innovation and growth in UAE
SMEs are contributing 63.5% to the UAE's non-oil GDP and are at the forefront of innovation and growth, Ayham Gorani,...SMEs are contributing 63.5% to the UAE's non-oil GDP and are at the forefront of innovation and growth, Ayham Gorani, CEO of Pemo, tells TRENDS.
Gorani highlights the importance of a supportive ecosystem and government initiatives in nurturing this vital sector across the Gulf country.
Total market value of Saudi stocks hits $2.97 trillion
Riyadh, Saudi Arabia - The total market value of the primary Saudi stock market, represented by the All Tadawul Share...This valuation encompasses shares from 231 listed companies and funds currently actively traded in the market
The total shares listed on the main stock market is reported to be 336.56 billion, with free shares accounting for 81.32 billion
WEF24: Creative leap diversifies Nigerian economy
Nigeria is diversifying its economy, moving beyond oil to embrace the blue and digital economies, Minister of Art, Culture, and...Nigeria is diversifying its economy, moving beyond oil to embrace the blue and digital economies, Minister of Art, Culture, and Creative Economy Hannatu Musa Musawa tells TRENDS.
The African country is leading initiatives for global recognition, with Destination 2030 showcasing the country's rich cultural heritage and creative prowess, adds Musawa.
