PIF fifth largest sovereign wealth fund as assets rise to $940.3bn
Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF) rose to the fifth position among...
Business
Investment Facilitation for Development pact finalized at Abu Dhabi WTO meet
Abu Dhabi, UAE -- Ministers representing 123 World Trade Organisation (WTO) members have finalized the Investment Facilitation for Development (IFD)...
Geostrategy
Economy
Innovation plays key role in tackling climate change
“The COP28 UAE is focused on delivering concrete and pragmatic solutions to ensure 1.5°C remains alive and within reach. This...
- The UAE supports the renewables-centered energy transition pathway and considers it an important contributing element to the proceedings of the COP28, says Almheiri
- The COP28 UAE Presidency will further prioritize the needs of the world’s most vulnerable communities to advance loss and damage funding arrangements, the minister adds
Business
Sharjah Chamber continues boosting the Emirate’s competitiveness
SHARJAH, UAE - Sharjah Chamber of Commerce and Industry (SCCI) in 2022 continued its role in creating investment environment and...
- Sharjah Chamber bolstered its competitiveness by protecting the interests of businessmen and supporting its members in the private sector.
- The Chamber contributed to the growth of the local economy across all sectors, promoting export and re-export activities of its members
Business
Ahmed Galal Ismail replaces Alain Bejjani as Majid Al Futtaim CEO
The reasons behind the change of guard were not immediately clear as Ismail takes charge as chief executive officer of...
- Ismail had previously served as CEO of Majid Al Futtaim - Ventures and VP Strategy of Majid Al Futtaim Holding
- Majid Al Futtaim reported revenue of AED 18 billion for the first half of 2022, an increase of 15 percent during the same period in 2021
UAE provides ‘conducive environment for cooperation’ between fossil fuel providers and climate activists
"The [energy] landscape in 2023 will have much of the same volatility we've seen in 2022. The difference is the...
- The UAE is not only one of the world's most important fossil fuel producers, but also one of the most important pioneers in renewables through Masdar, says Atlantic Council chief
- "The fossil fuel producers know they've got to deal with climate. They're putting billions of dollars into doing it, and climate activists are becoming more pragmatic," he adds
Creation of new jobs for Emiratis remains key priority for the govt, says UAE minister Abdulrahman Al Awar
The UAE's Ministry continues to develop the country’s model in economic development through partnership between the public and private sectors...
- Thanks to the Nafis programme during 2022, there was an unprecedented 70 percent increase in the number of Emiratis working in the private sector, says UAE's minister
- The UAE's Ministry continues to develop the country’s model in economic development through partnership between the public and private sectors, the minister adds
YEARBOOK 2023
Europe looks at GCC for LNG supplies amidst crisis
The year 2022 witnessed several deals involving Gulf nations and leading natural gas consumer countries that seek to secure their...
- The year 2022 witnessed several deals involving Gulf nations and leading natural gas consumer countries that seek to secure their LNG supplies in both near and distant future.
- In November-2022, Qatar and China signed one of the largest ever LNG deals inking a USD 60 Bn LNG supply deal for 27 years.
Economy
CBUAE issues new guidance to curb money laundering, terror financing
The guidance, which comes into effect immediately, will assist LFIs’ understanding of risks and effective implementation of their statutory AML/CFT...
- The new guidelines set by the Central Bank of the UAE apply to banks, finance companies, exchange houses and insurance companies, agents and brokers
- The apex bank's guidance discusses the use of digital ID systems by licensed financial institutions to address their customer due diligence obligations
YEARBOOK 2023
Major 2022 events that shaped world economies
TRENDS looks back at the events that grabbed attention worldwide. From Russia-Ukraine war to Saudi summits to Argentina's marvelous World-cup...
- The year 2022 is over. Yet 2023 offers a unique opportunity to reflect on the previous year with hope and optimism
- TRENDS looks back at the events that grabbed attention worldwide. From Russia-Ukraine war to Saudi summits to Argentina's marvelous World-cup victory, 2022 had seen it all
Videos
Saudi-China relations warm up with strategic deals
A recently reached Comprehensive Strategic Partnership Agreement has further enhanced the historical friendly relations between Saudi Arabia and China.
- A recently reached Comprehensive Strategic Partnership Agreement has further enhanced the historical friendly relations between Saudi Arabia and China.
- The two sides had recently signed several agreements and MoUs to enhance bilateral ties to serve the interests of the two countries and their people.
YEARBOOK 2023
Qatar’s economy remains strong despite global crises
The year 2022 was crowned with excellent ratings for the Qatari economy, as the S&P's credit rating agency raised the...
- Powerful ratings, despite the fluctuations and crises witnessed by the global economy in recent years, the solidity of the Qatari economy has been confirmed by rating agencies
- Despite global crises, the Qatari economy recorded strong performance rates on most macroeconomic indicators, and looks forward to consolidate its leadership this year
PIF fifth largest sovereign wealth fund as assets rise to $940.3bn
Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF) rose to the fifth position among...
Business
Company News
KIB posts $19.5m net profit
Business
Latest News
GCC FTA, tech MoU enhance Pakistan-Saudi relations
In landmark developments, Saudi Arabia and Pakistan have taken significant strides to enhance their bilateral relations, especially in the economic...
Geostrategy
Digital quality adds shine to life in Arab countries
The UAE leads the Arab world in digital quality of life, with its advanced digital infrastructure and commitment to tech...
Infographics
At $75bn, Saudi defense budget beats several European countries in 2022
Last year, Saudi Arabia led the Middle East in military investments, ranking fifth globally with a defense budget of $75...
Geostrategy
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Business
Saudi real estate sector builds on vision beyond oil
TRENDS digs into Saudi Arabia's booming real estate sector and ambitious projects to find how they offers investors lucrative, long-term,...
Economy
Norms may make it easy to navigate ethical maze of AI
While speaking at the International Government Communication Forum in Sharjah, he emphasized that it's essential to regulate technology and overall...
- In a world where technology dominates daily life, the need for digital transformation to empower various sectors is undeniable
- It's essential to regulate technology and overall policies to ensure cybersecurity and ethical AI use, highlights a top UAE official
Videos
Middle East sets global standards in renewable energy
This TRENDS Explainer Video explores how the Middle East is fueling its economy with renewables like solar, wind, and green...
- This TRENDS Explainer Video explores how the Middle East is fueling its economy with renewables like solar, wind, and green hydrogen, catalyzing a global clean energy shift
- By 2030, solar energy is expected to make up 15 percent of the Middle East's power mix, while new wind projects in Oman, Egypt, and Saudi Arabia will generate local jobs