The annual Jackson Hole Economic Symposium in the US state of Wyoming gives Powell a global platform to enlighten financial markets about the Fed's thinking, a few weeks after he said policymakers could cut rates "as soon as" September.

The company is Chinese smartphone and household tech giant.

Oil prices fell by more than $2 a barrel Monday on the prospect of successful Middle Eastern peace talks reducing supply risks, while leading oil importer China's economic weakness threatened to curb demand, Reuters reportedBrent crude futures settled at $77.66 a barrel, dropping $2.02, or 2.5%. U.S. West Texas Intermediate...

Beijing, China - Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this year as the world's second-largest economy faces mounting headwinds.China is battling soaring joblessness among young people, a heavily indebted property sector and intensifying trade issues with the West.Chinese Premier Li...

Dubai, UAE - Dubai's real estate market reached a new peak in July, with sales hitting an all-time high of AED50.1 billion ($13.6 billion). Although the market continued to grow, the year-on-year increase slowed to 33% from 53% in June, reflecting a high base effect from the same period in...

Geneva, Switzerland – A recent report by the World Economic Forum (WEF) highlights the growing concern that unequal access to green financing and technologies could worsen existing economic inequalities. The report, Accelerating an Equitable Transition: A Data-Driven Approach, stresses the urgent need for an institutional response to ensure that the...

The law will ensure equal treatment between domestic and foreign investors, protecting intellectual property and promoting fair competition in line with international standards.

San Francisco, United States - US credit rating agency Fitch downgraded Israel a notch on Monday, warning that its ongoing conflict against Hamas in Gaza could last "well into 2025" and weigh on economic activity.Fitch lowered Israel's rating from "A+" to "A"."The conflict in Gaza could last well into 2025 and...

The Federal Reserve kept its key interest rate at 5.25% to 5.5%, citing “some further progress” toward its 2% inflation goal. At his press conference, Fed Chair Jerome Powell said a rate cut in September is “on the table,” provided the inflation data continues to be encouraging, CNBC reports. The...

Dubai, UAE - Dubai has reinforced its position as a global tourism leader by welcoming a record 9.31 million international overnight visitors in the first half of 2024, marking a 9 percent increase from the 8.55 million visitors during the same period in 2023. The achievement is aligned with the...

The next steps include official visits by FIFA and a comprehensive evaluation of the bid.

New Delhi, UAE - The number of Indians living in the Gulf Cooperation Council (GCC) countries has crossed nine million, India's Minister of State for External Affairs, Kirti Vardhan Singh, told Parliament yesterday.Indians are employed in a wide range of professions from highly qualified fintech, healthcare, information technology, engineering and...

The financial and insurance sector saw a 5.6% rise, reaching USD 4.1 billion (AED 15.1 billion), supported by significant growth in credit and deposit balances.

The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a proactive approach to attracting foreign investment and business, the US Department of State statement revealed on Wednesday.State-owned enterprises (SOE) are the primary engines for growth, but Bahrain aims to expand...

Gold prices continued to notch new records Wednesday, lifted by increasing conviction that the Federal Reserve will cut interest rates in September following comments from Fed Chair Jerome Powell, CNBC reports.Spot gold pricesGold rose 0.5% to $2,482.29 per ounce, hitting an all-time high according to LSEG data. Gold futures climbed...

The International Monetary Fund expects the world economy to grow 3.2 percent this year, unchanged from its April forecast, according to its World Economic Outlook update. "Global activity and world trade firmed up at the turn of the year, with trade spurred by strong exports from Asia," said the fund....

Led by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, the initiative's purpose is to elevate the city's global profile while enhancing local quality of life

Beijing, China - Factory activity in China shrank for a second straight month in June, data showed Sunday, underscoring the country's shaky economic recovery ahead of a key political gathering expected to focus on deepening reform.The manufacturing purchasing managers' index (PMI) -- a key measure of factory output -- registered at...

Tehran, Iran - Iranians voted in a presidential election on Friday marked by a lone reformist's bid to break through against a divided conservative field.Voting was extended three times and eventually ended at midnight (2030 GMT), with around 61 million Iranians eligible to cast ballots after the death of ultraconservative president...

Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate market forward, creating new opportunities for investors and stakeholders alike.

The country has risen to the 7th spot in the IMD World Competitiveness Ranking, highlighting its robust economic growth, strategic advancements, and commitment to innovation and sustainable development.

The Central Bank of the UAE (CBUAE) and Qatar Central Bank (QCB) have decided to keep interest rates unchanged, following the US Federal Reserve’s decision on Wednesday to keep benchmark lending rate at its current level for the seventh time in a row, Zawya reports.The US Federal Reserve voted unanimously...

Geneva, Switzerland – The latest Chief Economists Outlook released on May 29 presents a growing sense of cautious optimism about the global economy in 2024. More than eight in ten chief economists expect the global economy to either strengthen or remain stable this year – nearly double the proportion in...

Cairo, Egypt - Egypt's cabinet decided Wednesday to raise the price of subsidized bread for the first time in 30 years, Prime Minister Mostafa Madbouly said.The price of a loaf, long set at five piastres ($0.001), would quadruple to 20 piastres ($0.004) from June 1, Madbouly told a news conference.Madbouly acknowledged...

Beirut, Lebanon -- A third of Lebanese people are impoverished with poverty rates tripling in a decade, the World Bank said Thursday, as the country grapples with years of economic meltdown and war in the south.One in every three Lebanese "was poverty-stricken in 2022," the World Bank said in a report...

Washington, United States - The US Federal Reserve on Wednesday held interest rates steady for a sixth straight meeting, keeping the level at a 23-year high to fight stubborn price increases.After a two-day gathering, the central bank decided unanimously to keep the benchmark lending rate unchanged at 5.25-5.50 percent, citing a...

The company's cloud, ads, and retail businesses thrive.

The "2024 Crypto Spring Report" highlights the resurgence of the cryptocurrency market, fueled by institutional adoption, stablecoins, DeFi, signaling a new era of growth and innovation.

GCC countries are prioritizing actions like near-shoring, international partnerships, and technology adoption to ensure supply chain adaptability and responsiveness, says a report by Oliver Wyman.

MENA's debt-to-GDP ratio surged 23% in 6 years due to pandemic fallout, with only 8 of 19 countries returning to pre-pandemic levels by 2023.

For much of the past two years, policymakers on both sides of the Atlantic raised interest rates aggressively to fight a surge in prices, and, since last summer, they have left rates high as they assess whether inflation is under control, according to the New York Times.European Central Bank policymakers...

Tehran, Iran - Iran managed to sell an average of 1.56 million barrels per day during the first quarter of this year, primarily to China, data from Vortexa reveals. This marks the highest export level since the third quarter of 2018.The success in oil exports highlights the challenges faced by...

"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 US...

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 million...

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 named...

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 data...