Browsing: Business

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.

Russia remains a major energy player despite global challenges, with over 90% of its energy exports going to friendly countries, Putin declared at the Russian Energy Week forum.

Dubai Maritime City announces infrastructure upgrades, doubling its vessel handling capacity to 1,000 ships annually and supporting more complex shipbuilding and repair projects.

The UAE and New Zealand concluded negotiations on a comprehensive trade partnership aimed at boosting economic ties and investment opportunities between the two countries.

Al Seer Marine adds two MR tankers to its fleet, boosting capacity for clean petroleum products and chemicals, aligning with its strategic growth in the UAE maritime industry.

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.

Abu Dhabi Finance Week 2024 will bring together over 300 global financial leaders, including CEOs of major institutions, to discuss finance, innovation, and collaboration.

Egypt’s Central Bank plans to list United Bank on the Egyptian Stock Exchange, with the IPO set to conclude by Q1 2025, pending market conditions and regulatory approvals.