Economy

Trade War Escalates Between the United States and Canada After New Tariffs Imposed Washington, United StatesIn a new escalation, U.S. President Donald Trump threatened Canada with further retaliatory actions in the trade war between the two countries after Washington imposed a 25% tariff on Canadian imports. Canada’s Response: Imposing Similar …

Saudi Arabia’s Non-Oil Private Sector Continues Strong Growth in February 2024 Despite Slowing Pace Riyadh, Saudi Arabia –A survey released today revealed that Saudi Arabia’s non-oil private sector continued its strong expansion in February 2024, driven by robust customer sales and increased activity levels, although the growth pace slowed compared …

Gold Prices Suffer Losses Amidst Awaited Impact of New Tariffs Global Capitals – Gold prices experienced slight losses during early trading on Tuesday, with the yellow metal retreating as traders awaited the economic consequences of the tariffs imposed by U.S. President Donald Trump on Canada, Mexico, and China. Price Update: …

Canadian Dollar and Mexican Peso Decline as Tariffs Take Effect Global Capitals – Asian currency markets witnessed a sharp decline in the Canadian dollar and Mexican peso on Tuesday. Both currencies fell to their lowest levels in a month amid growing concerns of a potential trade war after U.S. President …

Commercial Bank of Kuwait Achieves Record Net Profits in Q4 2024 with a 471% Increase The Commercial Bank of Kuwait has announced strong net profits of 68.675 million Kuwaiti Dinars (equivalent to 222.57 million USD) in the fourth quarter of 2024, marking a significant increase of 471% compared to the …

Borouge Announces Merger with Borealis and Acquisition of Nova Chemicals Abu Dhabi, United Arab Emirates – Borouge PLC, listed on the Abu Dhabi Securities Exchange, has announced significant developments regarding its agreement with the Abu Dhabi National Oil Company (ADNOC) and OMV Aktiengesellschaft (OMV). This agreement involves a proposed merger …

SALK Announces Strong Financial Results for 2024 with Notable Growth in Revenues and Profits Dubai, United Arab Emirates – SALK, the exclusive operator of toll gates in Dubai and listed on the Dubai Financial Market, has announced its financial results for the fiscal year ending December 31, 2024. The company …

In a notable economic development, recent data has shown that the monetary liquidity in the Saudi economy, known as “Money Supply M3,” has reached its highest level ever. For the week ending on February 20, 2025, the total money supply M3 reached 3.024 trillion Saudi Riyals, compared to 3.002 trillion …

In a significant economic announcement this week, Saudi Aramco, the global oil giant, reported net profits of $106.25 billion for the year 2024, reflecting strong growth in its financial performance. This announcement comes at a time when the company is witnessing a substantial increase in its revenues, further solidifying its …

In an unprecedented economic development, the world is witnessing a significant increase this week in the impact of artificial intelligence (AI) on labor markets and the global economy. AI technologies are now playing a central role in transforming various industries, from manufacturing to financial services and healthcare. Last week, “OpenAI,” …