Both Gulf countries reported an increase in non-essential spending from 2021 to 2022, with the expectation that this trend will continue into 2023, says an expert.

In a report titled "Survival of the Richest", Oxfam said billionaires had doubled their wealth over the last 10 years, with the wealthiest one percent gaining 74 times more than the bottom 50 percent. The very wealthy have grown richer amid the cost-of-living crisis sparked by the Covid pandemic and...

The year 2022 witnessed several deals involving Gulf nations and leading natural gas consumer countries that seek to secure their LNG supplies in both near and distant future.

China is battling a surge in cases following its decision last month to lift years of lockdowns, quarantines and mass testing that had hammered its economy and sparked rare nationwide protests.

Reduction in hunger, provision of food security and improved nutrition, and promotion of sustainable agriculture contribute to sustainable development in the region, says an expert.

These revenues follow a spike in prices following Russia's invasion of Ukraine in February 2022, and OPEC producers' subsequent reluctance to increase production. In Oct the oil cartel decided to cut production quotas to maintain price levels, with a reduction of "two million barrels per day".

the Moroccan foreign ministry said in a statement that authorities in the North African country "decided to forbid access to territory of the Kingdom of Morocco for all travelers, whatever their nationality, coming from the People's Republic of China."

The Middle East region welcomed 2023 with fireworks at Burj Khalifa as revelers rang in the New Year without being subjected to Covid-related curbs for first time since pandemic.

A news outlet operated by the ruling Communist Party in Qingdao on Friday reported the municipal health chief as saying that the eastern city was seeing "between 490,000 and 530,000" new Covid cases a day. The coastal city of around 10 million people was "in a period of rapid transmission...

“E-commerce sales via marketplaces will continue to grow in double-digit percentages in 2023, driven by a higher proportion of cross-border shopping, and ongoing increase in the adoption of credit cards, and logistics services such as Aramex’s Shop & Ship, MyUS and DHL’s Easy Shop,” he adds.

Hospitals in many countries have come under pressure from a rising number of illnesses including what has been dubbed a "tripledemic" of Covid-19, influenza and the respiratory syncytial virus (RSV) which causes bronchiolitis.

In a statement, the World Bank slashed its forecast to 2.7 percent from 4.3 percent predicted in June. It also revised its forecast for next year from 8.1 percent down to 4.3 percent.

More than two years after it was launched, China will retire "Communications Itinerary Card", which tracks people who have been to a high-risk area based on their phone signal. The step is seen as a milestone in the country's rapid turn away from its zero-tolerance coronavirus strategy.

Musk also posted a meme showing Fauci telling US President Joe Biden, "Just one more lockdown, my king..." -- in apparent criticism of the Covid mitigation measure Musk has repeatedly slammed but has not been deployed in the country for over a year.

Industry experts stress the need for harnessing the momentum the industry has gained after the recovery from Covid setbacks.

Economists expect Germany and another major eurozone economy, Italy, to fall into recession. Britain's economy is already shrinking. Rating agency S&P Global foresees stagnation for the eurozone in 2023. The coronavirus pandemic, meanwhile, remains a wildcard for the global economy.

Cairo, Egypt—Egypt’s non-oil businesses have shown a contraction in November, resulting in output falling at the sharpest rate since the early pandemic as the country continues to face inflationary pressure, according to S&P Global. As a result Egypt’s Purchasing Managers’ Index fell from 47.7 in October to 45.4 in November...

Brussels needs to find new energy suppliers and we recognize the important role of the UAE on that front, Belgian ambassador to the UAE Antoine Delcourt tells TRENDS

Dubai, UAE---A total of 1,600 real estate transactions worth over AED4.8 billion ($1.3 billion) were conducted during the week ending 30 Nov 2022 in Dubai, according to figures released by the Dubai Land Department (DLD). The DLD said that the emirate saw the sale of 176 plots for AED998.19 million,...

The reading -- the lowest since Eurostat started compiling jobless figures in April 1998 -- was an indicator that the economies of the 19 EU nations using the euro had bounced back after the Covid pandemic. The seasonally adjusted unemployment rate was markedly less than the 7.3 percent recorded a...

The swift recovery from the effects of Covid-19 is expected to contribute to a rise in demand for luxury real estate units in the UAE by more than 30 percent next year, says a report.

Twitter's New boss Elon Musk believes that all content permitted by law should be allowed on the social media platform, and on Monday described his actions as a "revolution against online censorship in America."

In a rare display of anger against the Chinese government, scores of protestors took to the streets of Shanghai early Sunday calling for an end to lockdowns. China has been facing wide criticism over its zero-Covid policy. A fire spurred an outpouring of anger in Xinjiang region as many blamed...

Marrakesh, Morocco—The UN World Tourism Organization (UNWTO) convened its 117th Executive Council in Marrakesh, Morocco, as the sector’s recovery continues to gather pace. According to UNWTO data released this week, international arrivals are on track to reach 65% of pre-pandemic levels by the end of the year. However, building on...

The equities had a lackluster week owing to a decline in global crude oil prices amid fears that the surge in Covid-19 infections in China, the largest oil importer, will reduce demand.

Authorities have ordered nearly six million residents of eight districts in Zhengzhou, in the central province of Henan, not to leave the area for the next five days, setting up barriers around "high-risk" apartment buildings and checkpoints to restrict travel.

Wednesday's much-anticipated minutes showed most US central bank chiefs felt smaller increases would "likely soon be appropriate" as the economy shows signs of weakness following almost a year of monetary tightening.

The curbs in Zhengzhou are part of China's national zero-tolerance approach to Covid, which involves grueling lockdowns, travel restrictions and mass testing. However, nearly three years into the pandemic, Covid cases are now higher than they have ever been in China. There were 31,444 domestic cases on Wednesday, the National...

Post Covid, professionals are reviewing and updating their skills to stay competitive in the job market where remote work ha becoming increasingly popular, says a report.

The regional economies -- set to expand by 6.9 percent in 2022 -- may moderate to 3.7 percent and 2.4 percent in 2023 and 2024 respectively, says a World Bank report.

Authorities have received a "flood of complaints from air travelers" since the start of the pandemic, over a lack of timely refunds from companies, the department said in a statement released on Monday. Under US law, airlines and ticket agents are legally obliged to refund customers if the airline cancels...

In order to shore up its economy battered by the Covid pandemic and political turmoil, the EU has signed off on a $103 million grant to cash-strapped Tunisia. The grant, according to EU, aims to support economic recovery efforts and consolidate the progress already made in distributing social aid.

The four largest banking markets in the GCC -- UAE, Saudi Arabia, Kuwait and Qatar — are expected to 'nearly approximate' pre-pandemic profitability ranks by the end of 2022.

The new CEO is being given a five-year contract, the firm said.

Dubai, UAE—The United Arab Emirates has dropped almost all Covid restrictions as the rate of infection considerably drops in the country. Wearing masks in the UAE will now be optional in all open and closed facilities, including places of worship and mosques, except for health facilities and centers for people...

It posted a net profit of $1.36bn in H1.

Owing to Covid restrictions in central China, Apple has said that production at the world's largest iPhone factory has been "temporarily impacted", warning that customers will now face longer wait times. It said the curbs have affected the primary iPhone 14 Pro and iPhone 14 Pro Max assembly facility.

Several factors are at play when it comes to strengthening relations between GCC and Asian countries. TRENDS looks at all of them and gives them a perspective.

The war raging in Ukraine and other overlapping crises are taking a toll on labor markets worldwide, the UN said, suggesting a "sharp" slowdown was already underway. In a fresh report, the International Labor Organization said the outlook for global labor markets has deteriorated in recent months. ILO warned that...

Sales of Al Barakah silan in Israel have tripled to 3,000 tons over the past two years, making Israel the fifth largest market for its date syrup, says a top company executive.

Through the new concept, retailers and shopping centers in the Gulf country are giving a customer a whole experience, in some cases both in-store and online.

Beside facilitating the delivery of quality treatment, telehealth has altered the competitive landscape of private healthcare, allowing providers to offer more cost-effective, convenient care. This has created new revenue sources while allowing providers to address resource shortages, he adds.

Chemical companies in the Gulf region are likely to cope relatively well with the current stresses of rising rates and higher energy costs, says a recent report.

The UN and Oxfam have previously decried the unequal distribution of vaccines from richer Western countries to lower-income ones, particularly in Africa, putting lives at risk.

Presenting a revision of their annual trade forecast, WTO economists said they expected the volume of global merchandise trade to grow 3.5 percent this year, which is slightly higher than their expectations in April. But they forecast it would grow by only one percent in 2023 -- dramatically down from...

Young Arab boys and girls from countries such as Lebanon are being flown to Qatar and paid $800 to cheer during the upcoming World Cup, TRENDS Investigation reveals.

Germany pushed back against critics of a 200-billion-euro ($198-billion) energy fund, as Berlin faces fresh accusations it is going it alone in helping citizens face a historic price shock.

Europe must ramp down gas consumption to survive the winter given perilously low stocks amid fears of a total cut off of Russian supplies, the International Energy Agency said.

Riyadh, Saudi Arabia - Saudi Minister of Tourism Ahmed bin Aqeel Al-Khatib said more cooperation is a must for sustainable future in tourism in G20 nations. It includes facing issues spawned by the Covid pandemic, taking collective action for renaissance of the tourism sector and partnerships between private and public...

The world economy will take a bigger hit than previously forecast next year due to the effects of Russia's war in Ukraine, the OECD said. In a bleak report titled "paying the price of war", the Paris-based organization noted that the conflict aggravated inflationary pressure when the cost of living...