RIYADH, SAUDI ARABIA - The Federation of Saudi Chambers and the National Center for Marketing and Price Study at the Ministry of Foreign Affairs of Belarus signed on Monday a memorandum of understanding to boost investment and trade between the two countries. The memo was signed at the federation's headquarters...

DUBAI, UAE – For over 30 years, globalization has been the evergreen megatrend as global trade has helped lift some one billion people out of poverty, an expert has said. Yin Zou, the Executive Vice President of Corporate Development, DHL Group, wrote in the World Economic Forum that the COVID-19...

The Houthis say they are targeting Israel and Israeli-linked vessels to push for a stop to the offensive in Gaza. The attacks are endangering a transit route that carries up to 12% of global trade, prompting the US to set up a multinational naval task force to protect Red Sea...

Most large international shipping companies have decided to reroute trading to avoid the Red Sea and Suez Canal through which 12 percent of world trade usually passes. The Houthis say the strikes are in solidarity with Palestinians in war-ravaged Gaza, which Israel has bombarded relentlessly for three months, in what...

Following record highs in 2023 for the likes of Paris, Frankfurt and Tokyo, investors are predicting more gains as central banks prepare a series of interest-rate cuts as inflation cools. Oil prices rallied 2.5 percent on supply concerns after Iran dispatched a warship to the Red Sea in response to...

TEHRAN, IRAN - Iran's Alborz warship has entered the Red Sea through the strategic Bab al-Mandeb strait, Tasnim news agency reported on Monday, at a time of heightened tensions over the globally important waterway. The agency did not give specific reasons for its deployment, but noted that Iranian military vessels had...

Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of QR 16.7 billion ($4.58 billion) in Nov 2023, a decrease of about QR 9.5 billion, or 36.3 percent, compared to Nov 2022, and a decrease by nearly QR 2.3 billion or 12.1 percent compared...

Tehran, Iran-- Trade between Iran and Azerbaijan has registered a 46 percent jump in 2022, according to the deputy prime minister of the Republic of Azerbaijan. Shahin Mustafayev, who is also the Azeri head of the Iran-Azerbaijan Joint Economic Cooperation Commission, stated that the relations between the two countries are...

COPENHAGEN, DENMARK - Shipping giant Maersk said on Sunday it was suspending the passage of vessels through a key Red Sea strait for 48 hours, after Yemeni rebels attacked one of its merchant ships. The Maersk Hangzhou, a Singapore-flagged, Denmark-owned and operated container vessel en route from Singapore to Port Suez...

Riyadh, Saudi Arabia - Saudi EXIM Bank signed line of credit agreements worth $51 million with Türkiye Finans Katılım Bankası A.Ş. and Albaraka Türk Katilim Bankasi A.S. The agreement is likely to help boost trade between the two countries and facilitate the flow of Saudi non-oil exports to the Turkish...

Houthis have repeatedly targeted vessels in the vital Red Sea shipping lane with strikes they say are in support of Palestinians in Gaza, where Israel is battling Hamas. The attacks are endangering a transit route that carries up to 12 percent of global trade, prompting the United States to set...

Abu Dhabi, UAE--UAE stocks generated strong cash flows Monday, with market liquidity surpassing $272 million. International Holding Company (IHC) and Dubai Electricity and Water Authority (DEWA) topped the market in terms of number of transactions. The Abu Dhabi Securities Exchange (ADX) gained $241.25 million in liquidity, as compared to the...

The protesters were called to the streets by a disparate group of organizations backing the Palestinian cause, including left-wingers and members of the Islamist Justice and Charity movement. They marched along Mohammed V Avenue in the heart of the city, beneath banners declaring "stop the war of extermination in Gaza,...

Manama, Bahrain--Export Bahrain and Hong Kong Trade Development Council (HKTDC) have signed a strategic partnership agreement to strengthen trade ties and create new avenues of opportunity for small and medium-sized enterprises in the Kingdom of Bahrain.  The strategic partnership agreement seeks to foster mutually beneficial trade and economic cooperation. It...

UN special envoy Hans Grundberg's announcement marks the latest step to end the nine-year war that has killed hundreds of thousands of people and triggered one of the world's worst humanitarian crises. It follows recent meetings by Grundberg with head of Yemen's Saudi-backed presidential council and the chief negotiator of...

Dubai, UAE - A "possible explosion" struck a key shipping lane off Yemen on Monday, two maritime agencies said, the latest incident in the vital waterway threatened by Houthi rebel attacks. The British military’s United Kingdom Maritime Trade Operations issued a warning of a potential explosion striking near a vessel passing through...

DUBAI, UAE - The outlook for 2024 remains “highly uncertain and generally pessimistic,” UNCTAD says in the Global Trade Update, citing factors like ongoing geopolitical tensions, escalating debt and widespread economic fragility. Other elements weighing on trade include lower demand in developed countries, less trade in East Asia, an uptick...

Tehran, Iran--Trade between Iran and Russia has climbed 18 percent to US$1.7 billion in the first eight months of 2023. This was stated by the chairman of the Iranian Customs Administration Mohammad Rezvani, noting that the Iran Iran-Russia trade recorded $1.7 billion in the first eight months of this year...

"Some 4.7 billion people are expected to travel in 2024, an historic high that exceeds the pre-pandemic level of 4.5 billion recorded in 2019," IATA said in its traditional review of industry trends as the year draws to a close.

Istanbul, Turkey - Saudi and Turkish companies, part of the Saudi-Turkish Business Council, signed eight trade agreements to strengthen trade and investment between the two countries. The Federation of Saudi Chambers, Saudi General Authority of Foreign Trade, and Turkish Foreign Economic Relations Board co-organized the meet between the two. It...

Smoke again clouded the sky over the north of the Palestinian territory, whose Hamas government said 240 people had been killed since a pause in hostilities expired early Friday and combat resumed. After the truce expired on Friday, Israel had told NGOs not to bring aid convoys across the Rafah...

Antwerp, Belgium - As European capitals prepare to implement long-awaited sanctions on Russia's diamond exports, Belgian traders are bracing for new scrutiny of their industry. In Antwerp's renowned diamond district -- which handles an estimated 86 percent of the world's rough diamonds -- polishing "labs" are turning to blockchain technology to...

Stockholm, Sweden - Electric carmaker Tesla on Monday filed a lawsuit against the Swedish state over a strike by postal workers that is blocking deliveries of license plates for its new cars. Tesla is currently facing strikes on multiple fronts in Sweden over its refusal to sign a collective wage agreement...

Jakarta, Indonesia - The Comprehensive Economic Partnership Agreement (CEPA) is expected to increase Indonesia’s exports to the UAE by around $4 billion, the country's Chief Economic Affairs Minister Airlangga Hartarto said on Friday. "It will also increase [our] imports from the UAE by approximately $4 billion,” he added. According to Indonesia's...

DOHA, QATAR - The merchandise trade balance of Qatar (difference between total exports and imports) recorded a surplus of US$6.7 billion (QR60.9 billion) Q3 2023, down from US$28 billion (QR102.1 billion) in Q3 2022. According to the press release on Quarterly Foreign Merchandise Trade Statistics, Q3 2023 State of Qatar,...

RIYADH, SAUDI ARABIA - The Saudi-Algerian Business Forum concluded its activities with the two countries signing eight agreements aiming at enhancing trade and investment. The agreements covered trade, investment, information technology, business incubators and accelerators, tourism services, elevators, and spare parts. The agreements were signed on Thursday by the Federation...

Texas, US--Oil prices hardly moved during Asian trade on Wednesday as the market awaited potentially mixed news on the supply front, with the OPEC+ producers group expected to discuss output cuts and U.S. crude stocks forecast to show a big build-up. Brent crude futures fell 3 cents, or 0.04%, to...

Commercial traffic ground to a halt Tuesday when Pakistan began requiring the crew of commercial vehicles to have passports and visas to enter, and Afghanistan responded by refusing to allow any trucks to pass. Long-fraught relations between Kabul and Islamabad have worsened since October, when Pakistan announced plans to deport...

DUBAI, UAE – Dubai Customs has experienced a robust 13 percent increase with 21.6 million transactions during the first nine months of this year. This surge contrasts with the 19 million transactions recorded during the same period last year. The upswing aligns with the targets of Dubai’s economic agenda D33,...

Tokyo, Japan - Japan's government said on Friday that it plans to spend 2 trillion yen ($13 billion) to boost domestic production of strategically important semiconductors and generative AI technology. The planned outlays will include 700 billion yen ($4.6 billion) to support the construction of a Taiwan Semiconductor Manufacturing Company (TSMC)...

Manama, Bahrain--Export Bahrain and Alibaba.com have signed a memorandum of understanding (MoU) to boost global trade and economic growth in Bahrain. The MoU signed during the 6th China International Import Exhibition held in Shanghai, will enable Export Bahrain and Alibaba.com to leverage their respective strengths and expertise to facilitate trade,...

Sharjah, UAE-- In a groundbreaking move to strengthen ties with burgeoning markets in Africa, the Sharjah Exports Development Centre (SEDC) is spearheading a trade mission to Uganda and Kenya. This strategic venture aims to bolster economic and investment cooperation, paving the way for a new era of business opportunities. Under...

Tashkent will host the Iranian and Turkish presidents, as well as Pakistani Prime Minister Anwaar-ul-Haq Kakar and Central Asian leaders. The war between Israel and Hamas is not on the agenda, Uzbekistan said.

Hong Kong, China - Markets rallied again Monday following another strong performance on Wall Street, as below-forecast US jobs data fanned optimism that the Federal Reserve had reached the end of its interest rate hiking cycle. After a tough year for traders, the bank's decision last week to pause on monetary...

Sharjah, UAE-- The emirate of Sharjah is seeking to boost economic and investment cooperation with Uganda and Kenya. In this connection, the Sharjah Chamber of Commerce and Industry (SCCI) will dispatch a trade mission to Uganda and Kenya to enhance ties with the two African nations. Led by the Sharjah...

Dubai, UAE - Middle East powers should maintain their push to de-escalate the region through trade and economic ties despite the Israel-Hamas war, a senior United Arab Emirates official said on Saturday. The sudden flare-up in Gaza, after a deadly attack by Hamas, follows a period of fence-mending in the region including...

Dubai, UAE-- Dubai Electricity and Water Authority (DEWA) has held discussions with a delegation from Germany on how to boost cooperation in clean and renewable energy. In this regard, Saeed Mohammed Al Tayer, MD and CEO of DEWA), received a high-level delegation from the German region of Lusatia, led by...

“Jordan has become a regional investment hub of choice for the UAE's direct investments, totaling US$4 billion. This represents 14% of the total foreign direct investments received by the Kingdom, making the UAE the largest global investor in Jordan, surpassing the UK and Kuwait, whose investments are 8.2% and 7.2%,...

Panama City, Panama - The operator of the Panama Canal, the passageway for cargo ships between the Atlantic and Pacific oceans, said Tuesday that it would gradually limit the number of daily crossings due to drought. Traffic will be reduced to 25 ships a day from Friday, down from 29, and...

London, UK-- Bahrain and the UK have discussed way to boost bilateral cooperation in trade, investment and economic fields between the two countries. The discussions were held between Dr. Abdullatif bin Rashid Al Zayani, Bahrain's Minister of Foreign Affairs, and Lord Tariq Ahmad, Minister of State for the Middle East,...

ABU DHABI, UAE - Trade between the two countries is on an upswing with volumes this year expected to surpass that of last year, Radha Krishna Panday, Ambassador of Canada to the UAE, told the Emirates News Agency (WAM). He said that the UAE has created a value-added platform that...

Abu Dhabi, UAE-- Trade between the UAE and Zimbabwe touched $2 billion last year as the bilateral relations between the two countries have strengthened in recent years. According to Lovemore Mazemo, ambassador of Zimbabwe to the UAE, the trade relations between the two countries are poised to grow further. The...

Wang "will conduct in-depth exchanges of views with US leaders on China-US relations and international and regional issues of common interest," foreign ministry spokesperson Mao Ning said at a regular briefing. The top diplomat will "convey China's principles and positions and legitimate concerns about China-US relations," she added.

Riyadh, Saudi Arabia - Bilateral trade between Saudi Arabia and Malaysia rose 160% in 2022 compared to 2021, revealed the joint statement issued at the conclusion of the visit of Malaysia's Prime Minister, Anwar Ibrahim, to the Kingdom of Saudi Arabia. The statement stressed the importance of continued collaboration to...

"A Free Trade Agreement between the GCC countries and China will be a pivotal channel to amplify GCC-Chinese relations across all sectors, especially in economics and investment. It will play a crucial role in augmenting the mutual benefits and trade exchanges, benefiting numerous countries and their citizens," he adds.

The emirate's pro-business policies, dedicated trade zones, and emphasis on tech innovation position it as a premier financial hub, George Pavel of Capex.com tells TRENDS in an interview.

Riyadh, Saudi Arabia-- UAE President Sheikh Mohamed bin Zayed and Vietnamese Prime Minister Pham Minh Chinh have explored opportunities to further strengthen ties between the two countries in a meeting between the two leaders in Riyadh. The president and prime minister met on the sidelines of the joint summit between...

RIYADH, SAUDI ARABIA – The Saudi Standards, Metrology and Quality Organization (SASO) and Enterprise Singapore signed an MoU here, focusing on standardization and the coordination of standards. The signing ceremony occurred during the third session of the Saudi-Singapore Joint Committee on Wednesday. The primary objective of the MoU is to...

Netflix shares leapt more than 12 percent to $43.31 in after-market trades on the Nasdaq exchange. The streaming service said in an earnings report that its nascent ad-supported offering was gaining traction, with the number of users increasing nearly 70 percent over the quarter.

Frankfurt, Germany - The postponement of a Palestinian author's award ceremony at the Frankfurt Book Fair due to the Israel-Hamas conflict triggered condemnation Monday from high-profile authors, while several Arab publishing groups withdrew. The annual fair is the world's biggest publishing trade event, bringing together thousands of book industry players and...