World food prices held steady in October, though cereal prices rose over uncertainty of a deal giving safe passage for Ukrainian grains on the Black Sea, a UN agency said. Global food prices have been falling since hitting an all-time high in March in the wake of Russia's invasion of...

HELSINKI, FINLAND - Heading a high-level delegation to Finland, Saudi Arabia's Minister of Commerce and Chairman of the Board of Directors of the General Authority for Foreign Trade Dr. Majid bin Abdullah Al-Qasabi stressed on the need to strengthen and diversify the bilateral trade between the two countries. Al-Qasabi said...

An economic report issued by the MEP---the ministry will publish such reports quarterly on domestic and global economic updates---real non-oil GDP growth expanded by 5.9 percent. The report said the kingdom recorded growth for six consecutive quarters.

AMMAN, JORDAN - Jordan's King Abdullah received Russian Foreign Minister Sergey Lavrov in Amman on Thursday and stressed the importance of stabilizing Syria, especially the southern part. King Abdullah noted the need to activate efforts to reach a political solution to the crisis in Syria, safeguarding its unity and territorial...

Q3 revenue was up 11.6 percent at US$10.11 billion.

Dubbed the 'Arab Development Summit', it may be hosted by the Cairo-based Arab League.

Hamadi started a decade ago by gathering donations to buy 50 solar water heaters and 140 photovoltaic panels.

Some of Germany’s leading industrial companies participated in a roundtable event hosted by the UAE Ministry of Industry and Advanced Technology at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022.

Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake of the Ukraine war, the International Energy Agency warned. The IEA said the shortfall would occur if Russia stops pipelines deliveries completely and China steps up its imports of liquefied...

UAE and Indonesia have signed a Declaration of Intent to boost economic and social development between the two countries and exchange knowledge and data in the energy sector.

Bank announced a share buyback of US$1.4 billion.

Profit was due to high demand for pricier luxury models.

Moscow had said on Saturday that it was temporarily pulling out of the grain deal, accusing Ukraine of using a safe shipping corridor established under the agreement to launch a drone assault on its Black Sea fleet.

Central banks worldwide are raising borrowing costs in efforts to tame soaring consumer prices, but Turkey has bucked the global trend, with Erdogan calling higher interest rates his "biggest enemy". With an election looming next year, Erdogan argues that high-interest rates are the cause of inflation, not the opposite, in...

Riyadh, Saudi Arabia— ACWA Power Company of Saudi Arabia has signed an agreement with Egypt to build a 10 gigawatts project to produce electricity from wind energy in the north African country. According to the Saudi Ministry of Energy, the agreement has been reached with Egypt’s New & Renewable Energy...

Most of the GCC states have raised their key interest rates in the wake of the Federal Reserve's decision to raise its key policy rate by three-quarters of a percentage point. The two largest economies of the region, the UAE and Saudi Arabia, both raised rates by 75 basis points.

The two leaders highlighted the just announced comprehensive UAE-US initiative to accelerate the energy transition.

Struggling to bring down the runaway inflation, the Bank of England is expected to hike its key interest rate on Thursday by the biggest amount since 1989. The BoE is expected to lift borrowing costs by 0.75 percentage points to three percent, according to market consensus, which would be the...

The two ministers also talked about the progress in the electrical interconnection efforts.

Helsinki, Finland— Saudi Arabia and Finland have signed an agreement to regulate air transport and start air services between the two countries. The agreement is designed to propel economic partnership and boost trade. In this connection, the General Authority of Civil Aviation (GACA) of the Kingdom of Saudi Arabia and...

Experts attribute the main reasons for the increase in the real estate demand to the UAE government's numerous initiatives and the high income level of investors.

Abu Dhabi, represented by Abu Dhabi's Department of Municipalities and Transport, and Bishkek City have signed a twinning agreement to strengthen cooperation between the two cities and further enhance relations between the UAE and the Kyrgyz Republic.

UAE Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met with Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF) Dr. Jihad Azour.

Global stock markets rose as traders looked to the US Federal Reserve's interest rate decision hoping it will signal a more dovish approach to fighting inflation. The Fed is widely expected Wednesday to announce a fourth straight 75-basis-point rate hike leading to worries it will tip the world's top economy...

Tripoli, Libya---Libya is aiming to nearly double its oil output to two million barrels per day by 2027, the head of its National Oil Company has said. "We're working on raising production to two million barrels per day in the next three to five years," Farhat Bengdara said in an...

Pact aims to expand railway solutions, technology in region.

The Partnership for Accelerating Clean Energy will see the two countries develop, finance and deploy clean projects in the US, UAE and other countries; invest in responsible and resilient supply chains; and promote investment in green mining, production and processing of minerals and materials that are vital to the energy...

The Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a US$10 million (AED36.7 million) line-of-credit agreement with the National Bank of Iraq (NBI), part of the Capital Bank Group.

The Czech prime minister, whose country holds the rotating EU presidency, said the bloc may look at sanctions on Belarus over its role in the war in Ukraine. Minsk allows Russian troops to be stationed in Belarus and stage attacks on Ukraine from there, though it insists it does not...

BP, flush with cash, revealed a $2.5 billion share buyback.

Such a scenario has led to despondency among many Arab-Israelis -- who make up around 20 percent of the population -- potentially denting their turnout. "We need to work harder, first of all, to convince people to go out and vote," Aida Touma-Suleiman, from the Hadash-Taal alliance, told AFP.

Since the last Arab League summit in 2019, several members of the 22-member bloc -- for decades a forum for strident declarations of support for the Palestinian cause -- have normalised ties with the Jewish state. The United Arab Emirates went first in a historic US-mediated deal that made the...

Tokyo, Japan— Toyota kept its annual net profit forecast unchanged on Tuesday, as the weaker yen offsets supply-chain disruptions that have forced the Japanese car giant to slash production targets. The world's top-selling automaker said it now expects to sell half a million fewer vehicles in the current financial year because...

The global primary energy demand is forecast to continue growing in the medium and long-term, increasing by a significant 23% in the next 23 years

More than a year after it took power, Taliban has failed to curb opium poppy cultivation in the country as production and exports have boomed. According to the UN's drugs agency the poppy cultivation has gone up by a third despite the Taliban's ban in April on the cultivation.

The global financial institution said higher oil receipts supplemented with a gradual non-oil recovery in the Emirates will bolster fiscal revenue.

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.

ABU DHABI, UAE - President Sheikh Mohamed bin Zayed Al Nahyan Monday received President of the Kyrgyz Republic Sadyr Japarov, who is on a working visit to the UAE. During their meeting, which took place at Al Shati Palace, President Sheikh Mohamed welcomed the President of Kyrgyzstan and hoped the...

Despite soaring inflation and murky economic prospects worldwide, the IMF maintained its projection of 5.0 percent growth for the region in 2022, dropping to 3.6 percent in 2023. But the figures, although higher than elsewhere in the world, don't reflect the region's "challenges", Middle East and Central Asia director Jihad...

DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority Saeed Mohammed Al Tayer said DEWA had added 300 megawatts of photovoltaic solar energy in 2022 from the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park using the Independent Power Producer (IPP) model. The Solar...

With prices falling and ports clogged with liquefied natural gas tankers, fears of a winter heating crisis in Europe have eased but experts are warning against complacency. For over a week now, there have been bottlenecks at Spanish ports of ships bringing in LNG, indicating Europe is at full capacity.

As per estimates by the General Authority for Statistics (GASTAT), real Gross Domestic Product (GDP) of Saudi Arabia grew by 8.6 percent in the third quarter of 2022 compared to the same period in 2021.

Years of strict pandemic controls and a political crackdown have hammered the Asian finance hub's economy and sparked an exodus of talent authorities say they now want to reverse.

The scale of the loss can be gauged from the fact it is slightly more than the annual economic output of Morocco ($132 billion).

Doha, Qatar— Qatar and Azerbaijan have decided to enhance relations in the fields of energy and trade and in this regard Qatar Chamber and the SMEs Business Development Agency of the Republic of Azerbaijan signed on Sunday a memorandum of understanding (MoU) to establish the Qatar-Azerbaijan Joint Business Council. Speaking...

The program, launched by Saudi Crown Prince and Prime Minister Mohammed bin Salman, has identified more than 800 investment opportunities worth $266bn.

The Purchasing Managers' Index (PMI) -- a key gauge of manufacturing in the world's second-biggest economy -- came in at 49.2, down from September's 50.1 and below the 50-point mark separating growth from contraction, according to data from the National Bureau of Statistics (NBS).

The license will allow investors to buy or rent lands, operate and manage the projects and allocate the necessary facilities for it with just a single approval.

Energy security, enhancing partnerships were discussed.

Project is part of the world's biggest natural gas reserves.