Economy
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Rise of fast-fashion Shein, Temu impacts global air cargo industry
The rapid rise of fast-fashion e-commerce retailers such as Shein and Temu is upending the global air cargo industry, as…
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Boeing says prepared to compete with China-made single-aisle C919 plane
Boeing said on Wednesday it was preparing to compete with China’s first domestically produced passenger plane, which was showcased for…
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HSBC reports ‘record profit’ of $30.3 billion in 2023
HSBC said Wednesday it achieved “record profit” in 2023 as pre-tax profits soared by nearly 80 percent, with the banking…
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Saudi Arabia best fit for global tech and electronics manufacturing hub: Alat CEO
Saudi Arabia’s strategic location, abundant resources and drive for technology has made it the best contender to become a global…
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IATA chief Walsh pleads for more sustainable aviation fuel to save air travel
The head of global airlines’ biggest trade group implored oil producers to make more low-emissions aviation fuel, warning the future…
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Dubai airport passenger numbers surpass pre-pandemic levels
Dubai International Airport (DXB), the world’s busiest international hub, registered a 31.7 percent increase in passenger traffic last year to…
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India to spend $3.5 bln for C-295 surveillance planes from Airbus
India will buy over a dozen maritime surveillance aircraft from aviation giant Airbus SE costing an estimated 290 billion rupees…
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Saudi adds $4 bln to its US Treasury holdings by end of 2023, highest in three years
Saudi Arabia added nearly $4 billion to its US Treasury holdings by the end of last year, taking its stockpile…
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Another Egyptian currency devaluation may be on horizon amid economic crisis
Egypt remains engulfed in a severe economic crisis that has left its population of over 105 million in a state…
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US trade chief Katherine Tai looks for incremental reform at WTO meeting
US Trade Representative Katherine Tai said on Wednesday that she is taking a “pragmatic” approach to the World Trade Organization’s…
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