Middle East leads way in global methane mitigation
The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....
Economy
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
YEARBOOK 2023
Southeast Asia may re-take leading growth position
Advanced economies are expected to slow down further this year, while ASEAN-6 economies are more resilient to the current macro...
- Pre-pandemic, Southeast Asia was one of the most dynamic economic regions in the world, prompting opportunity and growth at a significant scale for decades, says a QNB report
- Advanced economies may slow down further this year, while ASEAN-6 economies are more resilient to the current macro scenario and should present robust, mid-single digit growth
World Economic Forum
Carbon pricing standards key to boost green energy
Public resistance to a carbon tax has prevented many nations from establishing carbon pricing via taxation, but taxation is not...
- In order to reach 2050 emissions reduction targets, trillions of dollars in public and private capital are needed to adopt and scale green energy technologies
- Carbon trading, regulation and different pricing schemes are alternative strategies that countries have used to impose costs for emissions, believe experts
Science
Sharjah astronomy academy receives first signal from CubeSat
Sharjah, UAE - The Sharjah Academy for Astronomy, Space Sciences and Technology (SAASST) of the University of Sharjah (UoS), has...
- The project engineers at SAASST were prepared to receive the first communication signal from the CubeSat after it reached its orbit around Earth.
- The signal demonstrates the state of the satellite and its readiness to perform its mission after a successful deployment from the main spacecraft.
World Economic Forum
Energy poverty has been accelerating due to war in Ukraine, says Qatar’s foreign minister at WEF 2023
"It is unfair that many developing countries are demanded not to develop their special resources and to be independent in...
- It is unfair that many developing countries are demanded not to develop their special resources and to be independent in the field of energy, says Qatar's foreign minister
- People in the Middle East have been suffering for decades from all violations of the UN Charter, including Palestinian cause and Israeli occupation as well as Syrian issue, he adds
Economy
Countries which transform food system can meet net-zero goals, says WEF report
DAVOS, SWITZERLAND – A report launched Monday at the World Economic Forum Annual Meeting 2023 shows how countries can accelerate...
- Food systems, when transformed, can help solve some of the world’s toughest problems, from climate change to resilient livelihoods.
- The report identifies models for businesses and policy-makers and a roadmap of priorities for countries to improve productivity and sustainability.
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
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Middle East leads way in global methane mitigation
The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....
Economy
Company News
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KIB posts $19.5m net profit
Business
Non-oil revenue boost shows GCC’s financial wisdom
The GCC nations exemplify financial prudence. Their continuous efforts to boost non-oil revenues, reform tax policies, and modernize and digitize...
Business
Gaza becomes a dangerous ground for journalists
Amidst the escalating Israel-Hamas conflict, an alarming number of journalists have been killed, injured, or missing, underscoring the importance of...
Geostrategy
Collaboration crucial for renewable energy transition
"World peace and security, along with social, economic, and political stability, hinge on two pivotal factors: addressing climate issues and...
Economy
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Geostrategy
Hundreds killed in deadliest Palestine-Israel conflict
World calls for restraint as Palestinian death toll reaches 232 and Israeli casualties cross 200, prompting a vow of retaliation...
- World calls for restraint as Palestinian death toll reaches 232 and Israeli casualties cross 200, prompting a vow of retaliation from Israeli Prime Minister Benjamin Netanyahu
- The UNSC plans an emergency session as Biden backs Israel, while Israel's "Swords of Iron" operation persists and Hamas launches a comprehensive attack, evading Iron Dome
Geostrategy
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...
- In landmark developments, Saudi Arabia and Pakistan have taken significant strides to enhance their bilateral relations, especially in the economic and technological arenas.
- The GCC and Pakistan signed a historic Free Trade Agreement and MoU, deepening bilateral relations between the two nations from trade to digital transformation and defense
Infographics
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...
- The UAE leads the Arab world in digital quality of life, with its advanced digital infrastructure and commitment to tech advancements. Saudi Arabia secures second position.
- Qatar, Bahrain, Oman, and Kuwait rank among the top five in digital prowess, emphasizing that digitalization enhances citizens' quality of life in the Gulf region.