Trump trade war pushes firms to consider stockpiling
Even if they don't all acknowledge it so openly, firms in many different sectors are stockpiling their products in the United...Business Economy Geostrategy Global
Trump eyes ‘fair deal’ with China, but path to ending tariff war remains unclear
Trade tensions between the world's two biggest economies have soared as Trump ramped up levies on imports from China this...Economy
Saudi EXIM Bank, DBK sign MoU
It will boost the trade between Saudi Arabia and Kazakhstan.Under the MoU, both banks have also agreed to exchange information, experiences, and best practices to enhance the development of services and products
It will also facilitate collaborative research efforts and knowledge sharing to design export credit policies and practices and provide workforce training opportunities
‘Private sector plays vital role in Gulf integration’
"The GCC has all the potential to become a strong economic alliance capable of asserting itself on the global economic...The GCC has all the potential to become a strong economic alliance capable of asserting itself on the global economic map.
This potential is attributed to its natural resources, distinctive geographical location, and robust global alliances with nations.
UAE banking sector sees $71.87 billion in savings deposits until October 2023
Dubai, UAE - Savings Deposits in the banking sector in the UAE, excluding interbank deposits, hit $71.87 billion by the...The local currency, the dirham, accounted for the largest share of Savings Deposits, with around 82 percent, which is $59.12 billion
Demand Deposits rose to $262.77 billion at the end of October 2023, with an annual growth rate of 5.6 percent
Climate threats haunt GCC’s economy and finance
The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's...The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's economic stability and financial health.
A new S&P Global report underscores the urgency for adaptation and resilience investments to mitigate risks such as climate-induced flooding.
Lebanon economy to plunge into recession due to Gaza war
The impact of the conflict had reversed a slight recovery for Lebanon, which has battled a deep economic crisis for...Lebanon's economy collapsed in late 2019, plunging most of the population into poverty, according to the United Nations.
Real gross domestic product is expected to decline "to between minus 0.6 percent to minus 0.9 percent depending on the extent of the tourism shock," the World Bank said.
Angola departure a blow for OPEC+ as cartel tensions rise
Despite slashing oil production for months on end and announcing new cuts in late November, the Organization of the Petroleum...Prices are sitting at their lowest level in nearly six months despite the cartel's announcement in November to further cut output.
Angola is far from the first small country to quit the cartel. Indonesia left in 2009, Qatar in 2019 and Ecuador in 2020.
UAE consumer spending expected to rise by 5% in 2024: Mastercard report
Dubai, UAE -- Consumer spending in the UAE is expected to increase by 5 percent in 2024, while consumers and...Expansionary fiscal policy is set to continue to support growth in the Gulf Cooperation Council (GCC) countries, the report said.
GCC’s strong push to grow its tourism sector have made the region one of the world’s fastest-growing destinations.
UAE central bank raises 2024 economic growth forecast to 5.7%
The bank stated in a report released today that the overall GDP for the country is expected to grow by...The bank said that the UAE economy recorded a 3.8 percent year-on-year (YoY) growth in the second quarter of the current year, compared to 8 percent recorded in Q2 2022.
It mentioned that the non-oil GDP growth accelerated to 7.3 percent YoY in the second quarter of the current year, up from 4.5 percent YoY in the previous quarter.
EU agrees on 150-million financial aid for Tunisia
A joint statement said the funds amounting to around $164.3 million "aims to support the efforts undertaken by the Tunisian...The aid is part of a partnership agreement reached between the two countries in Tunis on July 16, which included a 105 million euros to curb irregular migration
The joint press by EU commission and the Tunisian foreign ministry release said the 150-million aid will consist of a "direct financial transfer to the Tunisian public treasury
UNCTAD eWeek focuses on AI risks, e-commerce growth in developing countries
At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and...At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and ensure a secure digital future.
Australia committed $2 million to UNCTAD for e-commerce support in developing nations, as Kenya unveiled a national strategy to spur its digital economy growth.
