7 d. ago Cyprus’ rising tech sector drives GDP and job creation, says KPMG

Christophoros Anayiotos, Head of Deal Advisory at KPMG in Cyprus, presented the latest economic impact assessment of the island’s tech sector during the TechIsland Summit on  Thursday. According to the 2024 figures, the tech sector contributes 16 per cent of Cyprus’ total Gross Value Added (GVA), a notable increase from 12.6 per cent the previous […]

Politics

9 d. ago US, Qatar deals to generate $1.2 trillion in ‘economic exchange’, White House says

Agreements signed by US President Donald Trump and Qatar’s Emir Sheikh Tamim bin Hamad Al-Thani on Wednesday will “generate an economic exchange worth at least $1.2 trillion,” the White House said in a fact sheet summarizing some of the deals’ details. The agreements include a $96 billion deal with Qatar Airways to buy up to […]

Economics

1 week ago From pariah to partner: Trump courts Bin Salman, lifts Syria sanctions

Four years after struggling to secure a meeting with then-President Joe Biden—who vowed to make Saudi Arabia a “pariah” over its role in the murder of journalist Jamal Khashoggi—Saudi Crown Prince Mohammed bin Salman found himself warmly embraced by President Donald Trump, now in his second term. During a high-profile investment summit in Riyadh, Trump […]

Politics

1 week ago Trump starts Gulf visit in Saudi Arabia, focus on mega economic deals

U.S. President Donald Trump began a tour of wealthy Gulf states on Tuesday by visiting Saudi Arabia, with his focus on securing trillions of dollars in investments rather than security issues ranging from war in Gaza to Iran’s nuclear program. Emerging from Air Force One, Trump punched the air in a show of solidarity when […]

Economics

2 w. ago Why does Saudi Arabia want a civil nuclear deal with the US?

Saudi Arabia and the United States are discussing a deal to cooperate on the kingdom’s ambitions to develop a civil nuclear industry, talks that have long been complicated by regional politics and concerns over weapons proliferation. Here are some of the main issues at play: WHY DOES SAUDI ARABIA WANT A NUCLEAR PROGRAMME? As the […]

Events

3 w. ago Oil drops on US economic contraction, possible OPEC+ supply rise

Oil prices fell on Thursday, extending a steep decline the previous session due to signs that Saudi Arabia, the world’s largest crude exporter, could raise production and data showing a contraction in the US economy, the world’s top oil consumer. Brent crude futures fell $1.1, or 1.8 per cent, to $59.96 a barrel as at […]

Economics

3 w. ago Saudi Arabia, Qatar to settle Syria’s outstanding arrears of around $15 million to World Bank

Saudi Arabia and Qatar are to settle Syria’s outstanding arrears of around $15 million to the World Bank, both countries said in a joint statement, paving the way for the approval of millions of dollars in grants for reconstruction and to support the country’s paralysed public sector. Reuters was first to report the news earlier […]

Economics

4 w. ago Trump poised to offer Saudi Arabia over $100 billion arms package

The United States is poised to offer Saudi Arabia an arms package worth well over $100 billion, six sources with direct knowledge of the issue told Reuters, saying the proposal was being lined up for announcement during US President Donald Trump’s visit to the kingdom in May. The offered package comes after the administration of […]

Politics