Geneva, Switzerland - United Nations Conference on Trade and Development (UNCTAD) said the COVID-19 pandemic, Ukraine crisis and the climate crises are having a devastating effect on progress towards the SDGs. The UNCTAD released the fifth edition of its annual SDG Pulse, a global reference for tracking progress towards achieving...

The data showed most of the faithful came from abroad. The Kingdom's officials had predicted more than 2.5 million pilgrims, making it the largest to date. But officials figures carried by the state-run Al Ekhbariya TV showed that the total number of pilgrims for this hajj season as 1.84 million.

After performing the ritual circumambulation of the Kaaba, the giant black cube at Mecca's Grand Mosque that Muslims pray towards each day, worshippers set off for Mina, about seven kilometers (more than four miles) away, in suffocating heat.

Lucid Group to help make Aston Martin's luxury 'green' cars.

GCC banks see continued growth on the back of innovation, tech focus and sustained government support. TRENDS Special Report analyzes factors that shape the sector.

The German group will sell AirPlus to Sweden's SEB Kort Bank.

At list prices, the Airbus deal is worth $3.3bn and Boeing's $1bn.

Gates -- one of the world's richest men -- is the latest in a string of Western business leaders to visit China since the country ended strict Covid controls that largely closed it off from the world for almost three years. The meeting between Xi Jinping and Gates follows an...

The EU is ready to offer Tunisia a 900-million-euro package plus 150 million euros in immediate support, European Commission head Ursula von der Leyen said. Aside from trade and investment, it would help Tunisia with border management and to combat human trafficking, with support worth 100 million euros this year,...

The Paris-based organization forecast an economic expansion of 2.7 percent, up from 2.6 percent in its previous report in March, with upgrades for the United States, China and the eurozone. But it is still under the 3.3 percent growth recorded in 2022.

"The 2022 Saudi census marks the "most comprehensive and precise population survey conducted in the Kingdom's history," the General Authority of Statistics said. It set the total population of the country at 32.2 million: 58.4 per cent Saudi nationals and most others from South Asia or elsewhere in the MENA...

Dividends across the world spiked 12% in Q1 compared to the same period in 2022, which was already an all-time high, according to the report by asset management firm Janus Henderson. "The dividend growth is all the more impressive considering that 2022 was a difficult year because of high inflation...

Its profit was US$1.5bn in the 12 months to the end of March.

Dubai, UAE -- The International Monetary Fund expects Qatar's real GDP to grow by 2-2.5 percent in 2023-24 on robust domestic demand and the ongoing LNG expansion, with inflation moderating gradually to around 3 percent. It said that after very strong growth in 2022 boosted by the World Cup, the...

Aviation sector is flying high after a tumultuous period

Muscat, Oman--Qatar Chamber (QC) Chairman Sheikh Khalifa bin Jassim Al-Thani has called for a unified policy for purchase of food and medicine at a meeting in Muscat. This came during his participation in the consultative meeting between GCC ministers of commerce and heads of unions and chambers of commerce and...

Abu Dhabi, UAE-- The UAE's gross domestic product (GDP) is estimated to have grown 7.6 percent in 2022, shored up by economic activity across all sectors. The conclusion was made in an annual report released by the Central Bank of the United Arab Emirates (CBUAE), which said that the UAE's...

WHO chief Tedros Adhanom Ghebreyesus, however, warns that "the worst thing any country could do now is to use this news as a reason to let down its guard, to dismantle the systems it has built, or to send the message to its people that Covid-19 is nothing to worry...

Since the beginning, more than 765 million confirmed cases of Covid-19 have been reported to the WHO from around the world, including nearly seven million deaths. And Covid remains a threat. While the death rate from the disease has plunged in recent months, it still killed at least 16,000 people...

The group's first quarter loss dipped to $515m from $644m a year ago.

Dubai, UAE-- The World Free Zones Organisation’s (World FZO) ninth Annual International Conference & Exhibition (AICE) will begun in Dubai from today. Held under the theme ‘Global Trade 2.0: Zones, An Ecosystem of Trust Driving Prosperity,’ this year’s two-day event reflects the organisation's commitment to facilitating the contribution of free...

Revenue dropped more than three percent to $8.74 billion.

While many hurdles remain and the 3D printer is likely years away from becoming available, experts hailed the "exciting" finding. The device prints two-centimeter-wide patches which each contain hundreds of tiny needles that administer a vaccine when pressed against the skin.

A grim UNICEF report warns of a potential outbreaks of polio and measles in children who didn't get vaccinated because of the disruptions caused by the Covid pandemic. The report said that more than" a decade of hard-earned gains in routine childhood immunization have been eroded" and that getting back...

Jakarta, Indonesia -- On motorcycles, cars, buses, planes or by boat, millions of Indonesians are travelling to their hometowns in the annual Eid holiday exodus that is expected to peak by Thursday. Major seaports and toll roads are packed, while airports and bus terminals are also full of travellers looking forward...

The new venture will be launched in 2024.

Beijing, China--China's economy grew much better than expected in the first three months of the year as the country reopened after the end of zero-Covid measures, official data showed Tuesday. The figures were the first snapshot since 2019 of the world's second-largest economy unencumbered by the strict health controls that helped...

Revenue grew 8.8% YoY, but fell 3.2% quarter-on-quarter.

Struggling to recover from its pandemic-driven slump, China, the world's second largest economy, has reported that its consumer price inflation fell below one percent in March, a sign of weak demand. The country is targeting an average inflation rate of three percent for 2023, which is still far below the...

Successful business leadership requires that we innovate and embrace change. This means a commitment to seek paths untrodden, embracing new technologies, willingness to take risks, experimenting with new ideas and strategies, and focusing on creating sustainable, long-term growth, he adds.

Washington, USA - International Monetary Fund (IMF) approved SDR 3.7262 billion ($5 billion) on a two-year arrangement for Morocco under the Flexible Credit Line (FCL). Morocco has benefited from four Precautionary and Liquidity Line (PLL) arrangements since 2012, each totaling about $3 billion. The first PLL was approved on August...

The WHO's vaccine experts are no longer recommending additional Covid-19 vaccine booster doses for regular, medium-risk adults because the benefit was marginal. The experts said that for such people who have received their primary vaccination course and one booster dose, there is no risk in having further shots but the...

Even with a better outlook for 2024, global growth will remain well below its historic average of 3.8 percent, she said at the China Development Forum. Uncertainties are exceptionally high, including because of risks of geo-economic fragmentation which could mean a world split into rival economic blocs.

Vienna, Austria -- The OPEC Fund for International Development (OFID) will provide a $40 million loan to Vietnam Maritime Commercial Joint Stock Bank (MSB) for on-lending to small and medium-sized enterprises (SMEs). The loan will support at least 80 local businesses, providing financing to meet critical needs to grow their...

Beijing, China--China's new premier warned Monday that the country's five-percent growth target for 2023 would not be "easy" to achieve, as its rubber-stamp parliament wrapped up over a week of meetings. The government set the economic growth target of "around five percent" this month, one of the lowest in decades as China...

The company likely to buy 20 percent stake.

Doha, Qatar - Qatar Emir Sheikh Tamim ibn Hamad Al Thani announced Sunday a $60 million financial contribution to Doha Program of Action (DPoA). He was speaking at the Fifth UN Conference on the Least Developed Countries (LDCs) in Doha. Local media reports said that $10 million will be allocated...

Beijing, China--China on Sunday set an economic growth target of "around 5 percent" for 2023, one of the lowest in decades, as its annual National People's Congress opened in Beijing. The target was announced in a work report delivered by outgoing Premier Li Keqiang as the rubber-stamp parliament opened at the...

The airline reported $839m in profit in 2022.

Washington, United States--FBI Director Christopher Wray said Tuesday his agency believes the Covid-19 pandemic was "most likely" caused by an incident in a laboratory in Wuhan, China. "The FBI has for quite some time now assessed that the origins of the pandemic are most likely a potential lab incident in Wuhan,"...

Net profit came in at $457m, compared to 2.9bn euros loss in 2021.

Demand is expected to reach 101.9 million barrels per day on average in 2023, an increase of two million barrels per day from last year, the IEA said. It would be up 1.4 million barrels a day from the pre-pandemic level in 2019 as consumption of fossil fuels behind global...

For the 12th year in a row, Switzerland leads the ranks on the Global Innovation Index. South Korea was the most innovative Asian country.

There’s a critical mass of shoppers who talk of making a difference with their purchases. Consumers are willing to pay more for products with a positive environmental impact or health benefits. For younger people millennials in particular, sustainable shopping is a mainstream preoccupation, they add.

After almost three years of stringent health restrictions, Beijing in December abruptly ended the zero-Covid policy that had battered the economy and provoked widespread protests. The Asian giant posted growth of just three percent in 2022, hammered by stringent lockdowns and a deepening crisis in the key property sector.

There is a rise in the interest of foreign investors in the MENA startup ecosystem as their share increased from 20 percent in 2021 to 47 percent in 2022, reports suggest.

Geneva, Switzerland---Eight humanoid robots will be the star attractions when the United Nations hosts its first summit since the start of the pandemic on the benefits of artificial intelligence, it said Wednesday. The AI for Good Global Summit, first held in 2017, will return to Geneva on July 6 and 7...

With activity in China unlikely to pick up in earnest until after the Lunar New Year holiday, the prospect of a lull in activity could be the trigger for a pause in the current rally – especially across industrial metals where copper has started the year with an 11% gain,...

Advanced economies are expected to slow down further this year, while ASEAN-6 economies are more resilient to the current macro scenario and should present robust, mid-single digit growth. Three factors underpin expectations for an above-average outperformance for ASEAN-6 ntions, it adds.

Weak earnings from banking titan Goldman Sachs, a jobs warning by Microsoft, and a plunge in manufacturing data highlighted the bumpy road ahead for the United States, the world's top economy, despite optimism over inflation and the improving interest rate outlook.