U.S. equity futures languished near record highs Wednesday, while oil extended gains and Treasury yields slumped, as investors continue to discount inflation signals ahead of tomorrow s key CPI reading and meme stocks looked to prolong their grip on Wall Street.
RIYADH: Saudi Arabia made up 29.3 percent of the $2.39 trillion Arab economy in 2020. The Kingdom’s $700.1 billion in nominal GDP was almost twice the size of the region’s second-largest economy, Egypt’s $361.9 billion, Al Eqtisadiah reported, citing data from the Saudi Arabian Monetary Authority, the International Monetary Fund and Arab statistical bodies. The UAE was the third largest Arab economy with GDP of $354.3 billion. The six countries of the Gulf Cooperation Council had combined GDP of $1.41 trillion, 58.8 percent of the Arab economy. The Arab world represents 2.8 percent of the global economy, and would rank eighth, behind France, if it was a single country.
DUBAI: With the aim of celebrating creativity on TikTok in the Middle East, the platform has launched TikTok Creative Digest, a bimonthly video newsletter featuring the most creative and innovative regional brand campaigns on TikTok.
The newsletter will highlight the best campaigns, especially during peak advertising moments in the year, such as Ramadan, the UEFA Euro 2020 and the Back to School period.
“In less than a year, we have had the privilege to work with the most creative brands in developing unique campaigns, which appeal to the interests, sentiments and nuances of the regional audience,” said Shant Oknayan, general manager of Global Business Solutions METAP.
DUBAI: French-Algerian actor Tahar Rahim is set to star in “She Came to Me,” a romantic comedy written by screenwriter and director Rebecca Miller. Rahim, who gained international prominence for his critically-acclaimed role in “The Mauritanian,” will star alongside actresses Anne Hathaway, Marisa Tomei, Joanna Kulig and “Ferris Bueller's Day Off” star Matthew Broderick.
DUBAI: The non-oil private sector economy in Dubai expanded for a sixth straight month in May, but at the slowest pace since the current expansion began, according to IHS Markit. The seasonally adjusted IHS Markit Dubai Purchasing Managers’ Index (PMI) fell to 51.6 in May, after posting a 17-month high of 53.5 in April. Readings above 50 indicate expanstion. However, this