OPEC+ countries to open the oil taps despite price slump
Saudi Arabia, along with Russia and six other members of the oil cartel, will implement a production adjustment of 411,000...Economy
US reaching out to China for tariff talks: Beijing state media
United States officials have reached out to their Chinese counterparts for talks on vast tariffs that have hammered markets and...Economy
Oil prices rise after US, UK strike Houthi rebels
Oil prices surged four percent after US and UK forces launched strikes against Iran-backed Houthi rebels after attacks on ships...Wall Street had ended flat on Thursday, while the dollar was closing the week with gains against the euro.
The Houthis have carried out a number of strikes on vessels in the Red Sea, a key international shipping route.
Lunate Capital launches Shariah-compliant ETF tracking Indian equities
ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid,...The fund will track the performance of Shariah-compliant Indian equities listed on the Bombay Stock Exchange.
The Index tracks the performance of the 30 most liquid Shariah-compliant Indian stocks listed on the BSE.
Morocco joins UAE, Jordan, Egypt, Bahrain in regional industrial collaboration
Manama, Bahrain – Morocco became the fifth country to join the UAE, Jordan, Egypt and Bahrain at the fourth meeting...Morocco is expected to bring significant value to the partnership, given the country’s advanced industrial capabilities
The country's GDP exceeded $134 billion in 2022 and its industrial sector provided over 1 million jobs, through some 121,000 companies
Wars to cast pall over meeting of global VIPs in Davos
Paris, France - The world's political and business elites will convene in Davos next week, with wars in Gaza and Ukraine...Russia's nearly two-year-old assault on Ukraine has taken centre stage at previous editions of the World Economic Forum (WEF)
The gathering "is taking place against the most complicated geopolitical and geoeconomic backdrop in decades", said WEF president Borge Brende
Dubai aims to become global creative economy capital
"Dubai transcends economic statistics; it embodies a pursuit of the highest quality of life. Our aspiration is to achieve excellence,...Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy, invites content creators to join in shaping Dubai's narrative.
He underscores Dubai's strategic role as a global hub, especially through DXB airport, serviced by Emirates Airlines and flydubai.
China, Russia trade soared in 2023 as commerce with US sank
Beijing, China - Trade between China and Russia hit a record high in 2023, official data from Beijing showed on Friday,...China-Russia trade reached more than $240 billion, customs figures showed, overshooting a goal of $200 billion set by the neighbours in bilateral meetings last year
The figure is a record for the two countries, who have grown closer politically and economically since Moscow's invasion of Ukraine in 2022
Gulf countries eye global metal recycling hub status
Amidst an electric vehicle market boom, a looming global shortage of crucial minerals such as lithium and cobalt threatens to...Amid an electric vehicle market boom, a looming global shortage of crucial minerals such as lithium and cobalt threatens to double metal prices.
Gulf countries are positioned to become global recycling hubs, offering a solution to the impending crisis and aiding the transition to clean energy.
The UAE President swears in 3 new ministers
The ministers taking the oath of office were Dr Amna bint Abdullah Al Dahak Al Shamsi who was appointed as...President Sheikh Mohamed extended his best wishes to the ministers for success in their new roles
Sheikh Mohammed bin Rashid said that the UAE leadership places great importance on enriching the government's workforce
US consumer inflation jumps more than expected to 3.4 percent
Washington, US - Consumer inflation in the United States rose more than anticipated in December, government data showed Thursday, underscoring the...The Department of Labor's consumer price index (CPI), a key measure of inflation, was up 3.4 percent from a year ago and higher than November's figure
But underlying pressures still appear to be ebbing, as a "core" metric that strips out volatile food and energy prices cooled to 3.9 percent in the last month of 2023
NEOM announces Aquellum as futuristic lifestyle community
NEOM, SAUDI ARABIA - The Board of Directors of NEOM has announced Aquellum, a luxury and experiential space embedded within...Aquellum is hidden within a breathtaking 450-meter-high mountain range.
The subterranean digitalized community creates vibrancy and interconnectivity.
