Retail sector in Gulf region stares at slump in business

• With high inflation biting into family budgets, households have cut back on spending on essential commodities because of the high cost of goods
• While the high-end malls and stores can fall back on their deep reserves of cash to get over the crisis, it is the small and medium-sized businesses that are struggling to survive

Goal: A just energy transition that’s equitable to all

• Record growth in renewables, representing over 80 percent of all new power-generating capacity last year, is the clearest sign yet that the energy transition is gathering pace
• Policies aimed at divesting from hydrocarbons too soon, without adequate viable alternatives, are self-defeating. They will undermine energy security, erode economic stability

Biden, Xi stay split on Taiwan but agree for face-to-face summit

• The virtual summit lasting over two hours took place as Beijing and Washington increasingly risk open conflict over the self-ruling island
• Once considered unlikely, an invasion, or lesser form of military action against Taiwan, is increasingly seen by China watchers as possible

Biden in Saudi Arabia to revive bilateral ties

• Biden’s direct flight is the first by an American president from Israel to Saudi Arabia, the last stop of the president's Middle East tour.
• Biden met Saudi King Salman before participating in a "working session" headed by Saudi Crown Prince Mohammed bin Salman

UAE non-oil foreign trade close to AED500bn in first quarter of 2022

• Gold topped the list of leading commodities included in the UAE’s non-oil foreign trade, with a value of AED84.4bn
• Diamonds stood second with a value of AED40bn, followed by telephone and communication devices with a value of AED37bn

Israel says government sites targeted by hack

• A largest-ever cyber attack launched against Israel but yet not clear that who carried out the hack
• NetBlocks confirmed on Monday that government network of Israel was "unreachable internationally"

Inflation pinches GCC consumers’ pockets

UAE restructures Securities and Commodities Authority

• The decision will help the Authority in promoting the performance of the financial markets in the country.
• The revamped Board will consolidate the UAE’s stature and its global leadership in this field, the authority says

Saudization benefits thousands of citizens in 2021

• The number of Saudi nationals who got jobs in the private sector crossed 1.9 million last year, says the ministry
• The drive has also helped in creating an attractive and stimulating work environment for Saudi nationals in private sector

GCC Summit issues Riyadh Declaration

• They Gulf leaders seek to enhance solidarity and stability among GCC member states
• The Supreme Council will hold its 43rd session under Oman’s presidency