Browsing: Business
Kuwait’s crude oil price surged by $4.5 on Wednesday, reaching $75.40 per barrel, driven by concerns over Middle Eastern tensions and market uncertainty, according to Kuwait Petroleum Corporation.
The World Economic Forum launched a platform to boost clean energy investment with 100 solutions from 47 countries, aiming to unlock $1.7 trillion in finance for emerging markets.
Azizi Developments has signed a 50-year lease in KEZAD to build 12 factories worth AED1 billion, supporting modular construction and sustainable practices in the real estate sector.
Federal Reserve Chair Jerome Powell emphasized a cautious approach to future rate cuts, noting that the Fed will act based on economic conditions, inflation trends, and the job market.
Global rice prices dropped after India resumed non-basmati white rice exports, easing supply concerns for importers in Asia and Africa and stabilizing the market.
Saudi Arabia has achieved a milestone with 558 million kg of poultry production in H1 2024, a 9% increase from 2023. The growth is attributed to biosecurity and financial support measures.
Meta and Dubai Future Foundation launch the UAE’s first AI accelerator, aiming to connect startups with UAE corporates and drive innovation using Meta’s open-source AI model.
Qualcomm has approached Intel for a potential takeover, though no formal offer has been made. The acquisition could be one of the largest in tech history but faces regulatory scrutiny.
Arab stock exchanges grew to a combined $4.268 trillion in market capitalization in August 2024, according to the Arab Monetary Fund, reflecting a $22 billion increase over July.
Idris Elba fronts the UAE’s ‘Invest in the Emirates’ campaign, which seeks to attract global innovators by showcasing the country’s thriving business environment and support for ventures.