BRICS integral to Arab trade diversification strategy
The UAE and Saudi Arabia’s trade with China and India far exceeds their trade with the US and UK. This...Economy
UN report says 1.1 billion people in acute poverty
More than one billion people are living in acute poverty across the globe, a UN Development Program report said Thursday,...Economy
Huge investments propel GCC project sector growth
The GCC project sector, one of the world's most dynamic, has recorded a significant surge in project awards, reaching $41.8...The GCC project sector, one of the world's most dynamic, has witnessed a significant surge in project awards, reaching $41.8 billion in the third quarter of 2023, says a report.
Driven by diversification efforts, countries like Kuwait and Saudi Arabia lead in contract values, emphasizing sustainable projects that align with long-term economic aspirations.
Global tech collaboration can benefit all: Expert
The ongoing US-China technological decoupling is likely to harm global capabilities, Chinese Professor Wu Xiabo tells TRENDS in an interview.The ongoing US-China technological decoupling is likely to harm global capabilities, Chinese Professor Wu Xiabo tells TRENDS in an interview.
He emphasizes the interrelation of FDI and technology, advocating for inclusive technological advancements that support local businesses.
Retail plays a pivotal role in UAE’s Net Zero mission
“To achieve our climate objectives, every segment of the economy, including retail, must work towards a greener future. The upcoming...UAE minister Mariam bint Mohammed Almheiri emphasizes sustainability in retail operations
A total of 13 additional businesses have signed the UAE Climate Responsible Companies Pledge
High interest rates are here to stay for a longer duration: IMF chief
Riyadh, Saudi Arabia - The world should be prepared that the interest rates are here to stay for a longer...Kristalina Georgieva conceded that "interest rates are not just suffocating, they are making life harder."Â
She also called on the overburdened countries to restructure debt, promising that the IMF was ready to assist
Stocks surge on China spending plan as oil prices retreat
Traders tracked a rally on Wall Street that was helped by a strong set of earnings from big-name firms including...Hong Kong was the stand-out performer Wednesday, jumping more than two percent
Traders were aware that the crisis in the Middle East could spiral out of control at any minute
Diversification remains crucial for oil-rich nations
Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in...Combating climate change demands global collaboration and collective action, European Commissioner for Cohesion and Reforms Elisa Ferreira tells TRENDS in an interview
She highlights the need for a global sustainability approach, emphasizing localized transitions, inclusivity, and the urgency of shifting to sustainable development
China announces $137 bn sovereign bond issuance
Beijing, China - China announced on Tuesday a 1 trillion yuan ($137 billion) sovereign bond issuance, state media said, in a...The funds will be distributed to local governments to support national disaster prevention and recovery, state news agency Xinhua said.
Zhang Zhiwei of Pinpoint Asset Management said the move was "highly unusual" and "came to the market as a surprise".
China’s GDP rises above forecasts, boosted by robust recovery efforts
BEIJING, CHINA - China's Gross Domestic Product (GDP) grew by 4.9 percent year-on-year in the third quarter, surpassing economists' predictions...Analysts believe China is on track to meet its annual growth target of approximately 5 percent this year.
Data from China’s National Bureau of Statistics revealed a 5.2 percent growth for the first three quarters.
Israel-Hamas war risks ‘serious’ economic damage: World Bank president
Ajay Banga was speaking at the annual Future Investment Initiative, often referred to as "Davos in the Desert". More than...While commenting on Israeli-Gaza war at FII summit, the World Bank president said, "we're at a very dangerous juncture"
More than 5,000 Palestinians, mainly civilians, have been killed across the Gaza Strip in retaliatory Israeli bombardments
World ‘failing’ on pledge to stop deforestation by 2030: NGOs
Deforestation last year was over 20 percent higher than it should have been to meet the leaders' pledge, with 6.6...In 2021, leaders from over 100 countries and territories -- representing the vast majority of the world's forests -- pledged to stop and reverse forest loss by 2030
An annual assessment released Tuesday found global deforestation actually increased by four percent last year, and the world remains well off track to meet the 2030 commitment
