Author: Steven Sahiounie

Saudi Arabia’s ACWA Power signed memorandums of understanding with several Japanese companies on the sidelines of the Saudi-Japan Vision 2030 Business Forum that took place on May 21. 

The levies on Chinese electric vehicles distort the car market, according to the Tesla boss Tesla CEO Elon Musk has denounced the US government’s newly announced tariffs on electric vehicles imported from China as “not good.” Washington rolled out steep tariffs on Chinese goods earlier this month, quadrupling duties on EVs to over 100%. The new measures affect $18 billion in imported Chinese goods, according to officials. “Things that inhibit freedom of exchange or distort the market are not good,” Musk stated at the Viva Technology conference in Paris on Thursday, Reuters reported. “Neither Tesla nor I asked for these tariffs, in…

The next British government will inherit a slew of economic problems, and will have to quickly decide how to tackle them, according to a think tank

Microsoft President Brad Smith said the tech company’s high profile deal with the United Arab Emirates-backed AI firm G42 could eventually involve the transfer of sophisticated chips and tools – a move that a senior Republican congressman warned could have national security implications.

The pound held steady on Thursday near multi-month highs a day after British Prime Minister Rishi Sunak called a national election and data showed inflation did not slow as much as expected in April. Sterling was flat on the dollar at $1.2722, having touched a two month high of $1.2761 the day before after data showed British consumer prices rose by 2.3 percent in annual terms in April, nearing the Bank of England’s 2 percent target but slowing less than markets had expected. It was also steady versus the euro at 85.07 pence to the common currency, around the pound’s strongest since February. The…

The OPEC+ group of oil producers, comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies, has pushed back its output policy meeting by a day to June 2.

The statistics showed that the assets of Islamic banks reached AED717.7 billion at the end of February 2024 The assets of Islamic banks operating in the UAE increased by about AED86 billion over the past 12 months, according to the latest statistics from the Central Bank of the UAE (CBUAE). The statistics showed that the assets of Islamic banks reached AED717.7 billion at the end of February 2024, reflecting an annual increase of 13.61 percent, compared to approximately AED631.7 billion at the end of February 2023. The Islamic banks’ deposits increased to AED509.4 billion at the end February, reflecting an…

Both sides discussed the existing relations between the UAE and OECD, and the positive outcomes of the collaborations regarding tax criteria and reforms ABU DHABI – Saeed Mubarak Al Hajeri, Assistant Minister for Economic and Trade Affairs, met with Mathias Cormann, Secretary-General of the Organisation for Economic Cooperation and Development (OECD). During the meeting, the two sides discussed the existing relations between the UAE and OECD, and the positive outcomes of the collaborations regarding tax criteria and reforms. The two sides also explored enhancing prospects of future cooperation between the UAE and the OECD in areas of mutual interest. Source:…

Minister of Commerce and Industry stated that Qatar and China have strong and solid relations, where China is Qatar’s largest trade partner

Banga, who is attending a meeting of Group of Seven finance ministers who are hashing out the concept of such a loan