Steady and sensible, Oman builds its future brick by brick amid the Gulf’s glittering rush
With volatile geopolitics and the resulting uncertainty, the year 2025 has been challenging for most of the countries across the...Economy
Anthropic announces massive AI chip deal with Google
San Francisco, United States - Artificial intelligence giant Anthropic said Thursday it was expanding its use of Google cloud computing...Technology
Gross national income of GCC countries hits $2.143 trillion
Muscat, Oman -- The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of...The value of disposable national income (available for consumption and savings after deducting taxes and other transfers) amounted to US$1.989 trillion.
The data indicate that the contribution of the non-oil sector to the GCC’s Gross Domestic Product (GDP) at current prices rose to 71.5 percent by the end of 2023.
Trump says semiconductor tariffs coming soon
"I'll be setting tariffs next week and the week after, on steel and, I would say, chips. Chips and semiconductors,...Trump said the levy rate would be "lower at the beginning" but "very high after a certain period of time," as a way to encourage businesses to relocate operations to the US.
On August 6, Trump announced a 100 percent tariff on semiconductors from firms that do not invest in the United States.
Oil prices rise ahead of US-Russia summit as stocks digest inflation data
New York, United States - Wall Street stocks finished little changed Thursday as markets absorbed a disappointing inflation report, while...The producer price index rose 0.9 percent on a month-on-month basis, much greater than analysts expected following benign consumer pricing data earlier this week
Among individual companies, Intel surged 7.4 percent following a Bloomberg News report that Trump is considering an investment in the beleaguered chip company
Stocks diverge as bitcoin hits record high
Bitcoin hit a new peak at $124,514.59 in Asian trading, before cooling to around $121,500. The world's biggest cryptocurrency is...Bitcoin is also winning investor support thanks to strong backing for the cryptocurrency sector from Trump.
Most European equity indices climbed after major Asian peers ended lower.
Dubai GDP grows by 4 percent to reach $32.58 billion in first quarter of 2025
Human Health and Social Work activities registered the highest growth rate, rising 26 percent compared to the same period last...Real Estate activities grew by 7.8 percent, while financial and insurance activities expanded by 5.9 percent.
Accommodation and food service activities recorded a 3.4 percent increase, and transport and storage rose by 2 percent.
Bitcoin hits record high above $124,000 before retreating
Tokyo, Japan - Bitcoin hit a record high on Thursday during early Asian trading, surpassing $124,000, driven by favourable US...US stocks ended higher Wednesday, with the S&P 500 index and the tech-heavy Nasdaq reaching new heights this week, contributing to the cryptocurrency's rise
Bitcoin's value has recently soared, fuelled by US regulatory changes under US President Donald Trump, a strong backer of the crypto sector
Plastic pollution treaty talks in disarray as dozens of countries reject draft text
Geneva, Switzerland - Attempts to finalise a landmark treaty combating plastic pollution descended into disarray on the penultimate day on...With some 30 hours left to seal a deal among the 184 countries gathered at the United Nations in Geneva, states lined up to slam the text proposed by Luis Vayas Valdivieso
Five previous rounds over the past two and a half years failed to seal an agreement, including a supposedly final round in South Korea late last year
Most markets rise as China-US tariff truce extended, US inflation data in focus
In an executive order, the White House reiterated its position that there are "large and persistent annual US goods trade...Donald Trump's widely expected trade announcement avoids the reimposition of sky-high levies and allows officials from Washington and Beijing to continue talking into November
the White House reiterated its position that there are "large and persistent annual US goods trade deficits" and they "constitute an unusual and extraordinary threat."
Trump says to move homeless people ‘far’ from Washington
President Donald Trump said Sunday that homeless people must be moved "far" from Washington, after days of musing about taking...The Republican billionaire has announced a press conference for Monday in which he is expected to reveal his plans for Washington
"I'm going to make our Capital safer and more beautiful than it ever was before," the president posted on his Truth Social platform Sunday
Gold futures hit record on US tariff shock; mixed day for stocks
Gold futures hit a record high Friday following reports of an unexpected tariff on the precious metal as global stocks...Wall Street enjoyed a sunny Friday led by the tech-rich Nasdaq Composite Index, which posted a second straight record
Investors are growing confident that President Donald Trump's constantly-changing US trade policy won't derail the surge in investment around artificial intelligence
