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...

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...

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....

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...

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...

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...

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...

"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.