The bank lowered its projection for global GDP growth to 2.3 percent in its latest economic prospects report, down from 2.7 percent expected in January, the latest in a series of downgrades by international organizations.

Riyadh, Saudi Arabia -- The International Monetary Fund (IMF) has revised upwards its forecast for Saudi Arabia's economic growth to 6 percent in 2025, an increase from the earlier prediction of 5.5 percent. This adjustment from earlier estimates reflects the impact of extended oil production cuts and a slower-than-expected rebound...

Agentic AI, spatial intelligence and robotic advancements in manipulation and adaptive control are enabling autonomous systems to make intelligent decisions in complex environments, driving progress in automotive and smart manufacturing.

On a visit to Riyadh earlier this month, US President Donald Trump said he would lift US sanctions on Syria, a move that should help pave the way for economic recovery in the war-torn country.

Geneva, Switzerland – The global economic outlook has worsened since the start of the year, as rising economic nationalism and tariff volatility fuel uncertainty and risk stalling long-term decision-making, according to a World Economic Forum report released today. The latest Chief Economists Outlook reveals that a strong majority (79 percent)...

London, United Kingdom -- Britain's South Western Railways on Sunday becomes the first private train operator to be returned to public ownership under the Labor government's plans to renationalize the country's much-maligned railways. Renationalizing all of the UK's rail operators is among the key policies launched by Prime Minister Keir...

Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones the company sells in the United States are not manufactured locally. In a post on Truth Social Trump said he had "long ago informed Tim Cook of Apple that I...

Morocco on Monday signed deals with an Emirati-Moroccan consortium for energy and water infrastructure projects, which according to one of the companies involved were worth more than $14 billion.

Beijing, China - Factory output in China grew at a faster rate than expected last month, official data showed Monday, weathering a brutal trade war with Washington. Industrial production in the export powerhouse grew 6.1 percent on-year in April, according to figures published by the National Bureau of Statistics (NBS)....

Muscat, Oman -- The general inflation rate in the GCC countries rose by 1.7 percent at the end of December 2024 compared to the figures recorded during same month of the previous year, according to the Consumer Price data released by the Statistical Centre for the Cooperation Council for the...

Moody's on Friday downgraded the United States's credit rating from the top triple-A level, citing rising levels of government debt and dealing a blow to Donald Trump's narrative of economic strength and prosperity.

The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in both the United States and China lowering tariffs on each other for 90 days.

For travel and tourism companies based out of the Middle East, utilizing technology to optimize the content creation process, and enabling content editing for Arabic language is crucial. This empowers them to target their core segment and showcase their fluent communication to specific micro markets, leading to better dividends.

Under imposing chandeliers, Trump welcomed a promise by Crown Prince Mohammed bin Salman, who effectively rules the kingdom due to King Salman's frail health, for $600 billion in investment and quipped that it should be $1 trillion.

The US and China will Monday give details of "substantial progress" touted by Washington on trade talks aimed at ending a devastating tariff war launched by US President Donald Trump that has wiped billions off equities and brought chaos to international commerce.

Damascus, Syria - Syrian Energy Minister Mohammad al-Bashir said Friday Damascus and Ankara had reached a deal for Turkey to supply natural gas to the war-torn country via a pipeline in the north. "I agreed with my Turkish counterpart Alparslan Bayraktar on supplying Syria with six million cubic metres of...

Washington, United States -- The US Federal Reserve is widely expected to extend a recent pause in rate cuts this week as it waits to see how President Donald Trump's stop-start tariff rollout affects the health of the world's largest economy. Trump has imposed steep levies on China, and lower...

Rome, Italy --  The Food and Agriculture Organization of the United Nations (FAO) released a new Cereal Supply and Demand Brief on Friday, with revised estimates for 2024 and fresh insights on cropping conditions and prospects for 2025. FAO’s latest forecast for 2025 wheat production is pegged at 795 million...

Buffett transformed Berkshire Hathaway from a medium-sized textile company when he bought it in the 1960s into a giant conglomerate,

Saudi Arabia, along with Russia and six other members of the oil cartel, will implement a production adjustment of 411,000 barrels a day out of the ground, as in May, according to a OPEC+ statement, whereas the initial plan called for an increase of just 137,000 barrels.

In a dizzying first three months, Trump wielded executive power like no other modern president, signing more than 140 orders on immigration, culture war issues and slashing the federal bureaucracy.

The Franklin Templeton Emerging Markets Equity outlook emphasizes how GCC countries have reduced their dependence on oil and gas, opened their capital markets, and diversified their economies — all underpinned by strong fiscal positions that bolster investor confidence.

"Growth is still projected to increase in 2025 and 2026, but at a considerably slower pace than anticipated last October," the IMF said in its regional report.

United States officials have reached out to their Chinese counterparts for talks on vast tariffs that have hammered markets and global supply chains, a Beijing-backed outlet said on Thursday citing sources.

Stocks moved sideways on Monday after notching four straight positive sessions last week as Trump adopted a more conciliatory posture on the trade war with China and said he doesn't plan to fire Federal Reserve Chair Jerome Powell.

Since returning to the presidency in January, US President Donald Trump has imposed 10 percent tariffs on most US trading partners and a separate 145 percent levy on many products from China.

Beijing, China - President Xi Jinping said China must "overcome" the challenges of developing core AI technologies including high-end chips, state media reported Saturday, as Beijing seeks to become a world leader in the rapidly developing industry. China aims to dominate the artificial intelligence sector, a goal complicated by the...

Beirut, Lebanon -- Lebanon's parliament on Thursday approved amendments to banking secrecy legislation, a key reform demanded by the International Monetary Fund, as Lebanese officials hold meetings with global finance institutions in Washington. A statement from speaker Nabih Berri's office said parliament passed amendments to "the law related to banking...

A meaningful “G3” accord between the US, Europe, and China must include coordinated fiscal, monetary, development, and trade policies. From reducing the US fiscal deficit to boosting China’s domestic consumption and reforming global trade norms, such a grand bargain could modernize outdated systems and spark a long-overdue recalibration of global...

Trade tensions between the world's two biggest economies have soared as Trump ramped up levies on imports from China this year, imposing an additional 145 percent tariff on many products over practices Washington has deemed unfair, and other issues.

Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the effect of US President Donald Trump's new tariff policies on the world economy. The IMF's projections, which incorporate some but not all tariff measures introduced this year, see the global...

The IMF's Global Financial Stability Report (GFSR) was published as world financial leaders gather for meetings in Washington under the cloud of policy uncertainty triggered by Trump's tariff announcements. The administration's tariff plans "triggered a bout of policy uncertainty," which was only exacerbated by the retaliatory measures unveiled by China,...

China on Monday hit out at other countries making trade deals with the United States at Beijing's expense, promising countermeasures against those who "appease" Washington in the blistering tariff war.

The UAE climbed from 17th to 11th globally in merchandise exports and from 18th to 14th in imports between 2021 and 2024, contributing 2.5 percent to global merchandise exports and 2.2 percent to imports. Exports reached $603 billion and imports totaled $539 billion in 2024.

UNCTAD report '"Trade and Development Foresights 2025 – Under pressure: Uncertainty reshapes global economic prospects” cited mounting threats including trade policy shocks, financial volatility and a surge in uncertainty that risk derailing the global outlook.

 The Saudi-led oil cartel said in a monthly report that it now expects demand to grow by 1.3 million barrels per day (bpd) in 2025, down from a previous forecast of 1.4 million bpd. The "minor adjustment" was mainly due to first-quarter data and "the expected impact on oil demand...

China said Monday that exports soared 12.4 percent year-on-year last month, beating expectations as Beijing navigated mounting trade headwinds sparked by US President Donald Trump.

Riyadh, Saudi Arabia -- The Communications, Space, and Technology Commission (CST) has said that the Saudi space economy reached $8.7 billion last year, including all value-added activities and industries from space technologies and services. The size of the space market reached $1.9 billion, according to the KSA Space Market 2025...

London, United Kingdom -- Why do investors flock to gold when economic times turn tough? As the precious metal reaches record highs AFP explains why it remains such a trusted lifeline. The trading turmoil unleashed by US President Donald Trump's tariffs has triggered a record run for gold, widely viewed...

Jitters about US tariffs hammered Asian stocks again early Friday as President Donald Trump acknowledged a "cost" to his surging trade offensive against superpower rival China..

Emirati President Mohammed bin Zayed Al Nahyan "and I just decided to launch negotiations on an EU-UAE free trade agreement," the European Commission president wrote on X. "This agreement will strengthen our bilateral relations and contribute to the prosperity of the broader region."

Prime Minister Mohammed Shia al-Sudani oversaw "the signing of a Memorandum of Understanding as part of a strategic cooperation framework with US energy firm GE Vernova, his office said, calling it "the largest and most advanced electricity generation initiative in Iraq's history."

The World Bank announced Tuesday it will provide Jordan with $1.1 billion in new financing to support economic reforms and expand social protections as the kingdom struggles with mounting debt.

US President Donald Trump's punishing tariffs on dozens of economies came in force Wednesday, including over 100 percent in levies against Chinese goods, dramatically ramping up a devastating global trade war.

China vowed on Tuesday to "fight to the end" against fresh tariffs of 50 percent threatened by US President Donald Trump, further aggravating a trade war that has already wiped trillions off global markets.

Trump's sweeping tariffs are reshaping trade dynamics across MENA, impacting oil-exporting Gulf nations like Saudi Arabia, UAE and Qatar, according to Atlantic Council experts.

Trading floors across the globe were overcome by waves of further selling after last week's sharp losses, with Trump telling Americans to "be strong, courageous, and patient," minutes before the New York stock market opened to drops of over three percent.

Abu Dhabi, UAE --  Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024, reaching AED 306 billion ($83.29 billion), compared to AED 281.9 billion in 2023, reflecting the vitality of the emirate’s economy and its growing relations with trading partners around the globe....

US President Donald Trump's widest-ranging tariffs to date took effect Saturday, in a move which could trigger retaliation and escalating trade tensions that could upset the global economy.

Wall Street led a global markets bloodbath Thursday as countries around the world reeled from President Donald Trump's trade war, while the White House insisted the US economy will emerge victorious.