"Leadership teams must recognize that the livelihoods of their employees' families hinge on the stability of the business. Understanding that the survival of the business goes beyond mere profitability can serve as a powerful motivator" he adds.

A tech-savvy population sees cryptocurrencies a safe investment option as governments adopt progressive regulatory frameworks, offering innovation and investor protection.

Stock markets fell and oil prices climbed Tuesday on growing fears of a wider war in the Middle East after Israel's army chief vowed a response to Iran's unprecedented attack on his country at the weekend. The selling came after Wall Street's three main indexes tanked in response to forecast-beating...

Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business to set up shop. But can the model work to power the GCC economy?

The growth of the space industry will largely be built upon the increased reach of space-based and/or -enabled technologies, such as communications, positioning, navigation and timing, and Earth observation.

The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign institutions and banks.

UAE ascends to 8th on Kearney's 2024 Foreign Direct Investment Confidence Index, affirming its appeal as a prime investment haven, spurred by diversification initiatives and superior infrastructure.

The burgeoning construction sector in Saudi Arabia is fostering the expansion of its talent pool and consolidating its regional leadership, says Barry Lewis, CEO at ALEC, in an interview with TRENDS.

AMMAN, JORDAN – Jordanian industrialists have emphasized the imperative of strategic planning to bolster export diversification, underlining key measures such as facilitating connectivity to global supply chains through e-commerce, and ramping up promotion and marketing efforts for domestic products.They also called for expanding outreach to foreign markets, fostering collaboration between...

Its shares rose more than three percent in after-market trades.

It seeks to reassure users over the risks of deepfakes.

Dubai, UAE--Dubai received 3.67 million overnight visitors in January-February 2024, with an increase of over 18 percent year-on-year (YoY), figures released by Dubai Department of Economy and Tourism (DET) showed. According to the DET's Tourism Performance Report for January-February 2024, Dubai recorded 1.77 million international visitors in January, and 1.9...

GCC equity markets experienced a March downturn, influenced by seasonal selling pressure during Ramadan, leading to a 3.0% drop in the MSCI GCC index with Qatar suffering the steepest decline at 6.0%.

It expects operating profits to jump to US$4.89bn.

Abu Dhabi, UAE--A unique national capacity-building fellowship model offering outstanding Emirati graduates the opportunity to gain experience in a cutting-edge academic research environment was established through an agreement with Dolphin Energy to sponsor NYUAD’s Kawader Research Assistantship Programme. Maryam Al-Memari, a Research Assistant at NYU Abu Dhabi (NYUAD), has been...

The volunteers don their club's signature blue vest, the front and back embroidered with their emblem: a flaming motorbike and the Syrian flag.

Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources on Wednesday announced six new mining opportunities for local and international investors. The opportunities are part of the fifth round of mining competitions for exploration licenses and encompass gold, copper, zinc, lead, and silver ores in various regions...

Vienna, Austria--The participants of the 53rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum Exporting Countries and its allies, OPEC+, agreed to keep current oil production levels unchanged. During the meeting which took place via videoconference today, the JMMC reviewed the crude oil production...

In December, the airline ordered 230 Airbus planes.

Tehran, Iran--The trade exchanges between Iran and Turkey in the first two months of 2024 reached $930 million, showing a one percent increase compared to the same month last year. According to the latest figures released by the Turkish Statistical Institute (TURKSTAT), Iran’s trade with the neighboring country stood at...

Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al Ijara, has been oversubscribed by 186%. Subscriptions worth $128.67 million were received for the $69.14 million issue, which carries maturity of 182 days. The expected return on the issue, which...

The two will work to develop AI-based banking capabilities.

The World Bank said in its interim damage assessment, this is equivalent to 97 percent of the combined economic output of the West Bank and Gaza in 2022. The report, produced with the United Nations and the European Union, found structural damage affected "every sector of the economy."

In power for the past decade, Sisi is set to remain president until 2030, after winning a December election with 89.6 percent of the vote against three relative unknowns. The six-year term is set to be the 69-year-old's last, unless he again ushers through a constitutional amendment prolonging his tenure.

Non-oil growth to stay robust, bolstered by a strong non-oil GDP growth in the region's two biggest economies, UAE and Saudi Arabia.

Abu Dhabi, UAE -- The Central Bank of the United Arab Emirates (CBUAE) expects the country's Gross Domestic Product (GDP) to grow by 4.2 percent in 2024, rising to 5.2 percent in 2025, while maintaining its estimate for a 3.1 percent growth in 2023. In its quarterly economic review report...

The non-oil economy contributed more than 53 percent to the total GDP, with significant growth in construction, finance and insurance, transportation and storage activities. Statistics Centre - Abu Dhabi (SCAD) said the results demonstrate the economy's ability to expand thanks to diversification efforts.

BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5 percent this year from 5.1 percent in 2023, Associated Press (AP) quoted a World Bank report as saying on Monday. Debt, trade barriers and policy uncertainties...

Observers called it Erdogan's worst election defeat since his party took power in 2002. Many blamed inflations running at 67 percent and a crashing devaluation of the lira currency over the past year.

Bangkok, Thailand--Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5 percent this year from 5.1 percent in 2023, Associated Press (AP) quoted a World Bank report as saying on Monday. Debt, trade barriers and policy uncertainties are dulling...

Sharjah, UAE--Expo Centre Sharjah (ECS) has unveiled its future projects and forthcoming initiatives to develop and enhance the exhibitions sector and bolster its role in driving the growth of Sharjah’s economy. Promoting the emirate’s business tourism potential and opening up growth prospects across various sectors, the ECS’s plans are geared...

Shenzhen, China--China's manufacturing activity expanded for the first time in six months in March. The official purchasing managers' index (PMI) rose to 50.8 in March from 49.1 in February, above the 50-mark separating growth from contraction and topping a median forecast of 49.9. Though the pace of growth was modest,...

"These banks excel not only in financial performance but also in adapting and innovating. Through partnerships with global entities like Mastercard and initiatives like the Trade Bank of Iraq's online banking system, accessibility to financial services has greatly improved," she added.

Tokyo, Japan--The UAE exported 44.1 percent, namely 31.3 million barrels, of Japan's crude oil needs in February 2024, according to the Agency for Natural Resources and Energy in Tokyo. The agency, part of the Japanese Ministry of Economy, Trade and Industry, stated that the amount of crude that Japan imported...

AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to the global level, driven by its development, quality and competitiveness, a stakeholder said. This has placed Jordan among the top countries in this strategic industry. Representative of Pharmaceutical Industries and...

It will cost US$100bn and will include an AI supercomputer.

The IMF action, repeatedly postponed and eagerly awaited by the Egyptian government, arrives at a time of mounting difficulties for its economy. The IMF said Egypt has achieved all the objectives set out in the first two stages of the aid program, with the exception of the level of its...

Washington, US--The US Treasury Department pushed back on Friday against claims it had eased sanctions against West Bank settlers after pressure from Israel's finance minister. The US recently sanctioned seven Israeli settlers and two farming outposts in the West Bank in response to a surge in violence, freezing their assets...

Abu Dhabi, UAE--The UAE and Kenya have signed an investment memorandum establishing a framework for investment cooperation in digitalisation and technology. In addition to exploring investments in digital infrastructure and artificial intelligence (AI) services in Kenya, the cooperation may include developing data centre projects with a total capacity of up...

WASHINGTON, US – The US central bank's favored measure of inflation edged higher last month on the back of rising fuel prices, according to government data published on Friday, but another gauge stripping out volatile food and energy prices continued to ease. US Federal Reserve chair Jerome Powell told a conference...

RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) issued on Friday the Foreign Direct Investment (FDI) statistics for Q4 of 2023, which show that the net flow of FDI in the Kingdom amounted to over US$3.4 billion (SAR13 billion), an increase of 16 percent or US$2.9 billion (SAR11...

Istanbul, Turkey--Recapturing Istanbul, the "jewel" of Turkey, in Sunday's local elections has become President Recep Tayyip Erdogan's obsession ever since losing the country's economic capital to the opposition in 2019. Erdogan's route to Turkey's presidency was launched in Istanbul, where he was elected mayor in 1994, and his allies held the...

Abu Dhabi, UAE-- The United Arab Emirates has been ranked first globally for the third consecutive year in the Global Entrepreneurship Monitor (GEM) report for the year 2023-2024. The country recorded a rate of 7.7, a record number in the history of the report. The UAE was recognised as the...

Abu Dhabi, UAE--The Arab Bank for Economic Development in Africa (BADEA) expects the bank's annual financing to reach US$2.5 billion by the end of 2024. According to its director general, Dr. Sidi Ould Tah, the annual financing of the bank is witnessing a steady increase, rising from US$2 billion in...

ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they have entered into a power and steam purchase agreement with Saudi Aramco Total Refining and Petrochemical Company (SATORP), a joint venture company owned by Saudi Arabian Oil Company (Saudi Aramco)...

AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar. Exchange companies in the Kingdom are experiencing a significant surge in demand for the Jordanian dinar, surpassing interest in other foreign currencies, the Petra news agency said. Speaking to Petra, Firas...

Speaking at the CERAWeek conference in Houston, Saudi Aramco Chief Executive Amin Nasser said that the current transition strategy is visibly failing on most fronts. adding that this is "hardly the future picture some have been painting." Fossil fuels accounted for 82% of global consumption last year.

Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council to collaborate in investment and futuristic economic sectors. According to the agreement, the Abu Dhabi Chamber and the Council will exert their best efforts to eliminate any obstacles that may...

Rohit Nanda, the new CFO, will take up his new job next month.

Dubai, UAE--Lapita, Dubai Parks and Resorts, has reported a surge in demand, bookings from across leisure and corporate segment last year, With its convenient location between Dubai and Abu Dhabi, expansive outdoor spaces, word-class facilities that include seven meeting rooms, and the Tamure Ballroom able to accommodate up to 700...