Saudi tourism sector employee number rises by 5.1 percent in second quarter
Riyadh, Saudi Arabia – The number of employees in tourism-related activities in Saudi Arabia increased by 5.1 percent in the...
Business
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
Company News
Latest News
Presight AI, Samruk-Kazyna launch JV
The partnership aims to accelerate digital transformation in Kazakhstan.
ICC pledges to intensify war crime investigations in Israel and Gaza
ICC Chief Prosecutor Karim Khan has vowed to ramp up efforts in investigating war crimes in the Israeli-Palestinian conflict, highlighting...
Geostrategy
$656 million committed to Loss & Damage Fund so far
The fund will be housed in the World Bank for four years, a decision accepted by developing nations despite concerns...
COP28 UAE
Most Read
Opinion
Act now as climate crisis has reached critical point
"Renewable energy is key to our planet's future. It's time to phase out fossil fuels and embrace sustainable solutions. The...
- Earth's vital signs are failing with record emissions and extreme weather events, signaling a climate emergency.
- UN makes an urgent call for global leaders to prevent a planetary catastrophe by meeting Paris Agreement goals.
COP28 UAE
COP28 offers a chance to rethink, reboot and refocus
COP28 UAE provides a crucial chance to reevaluate and intensify efforts, as experts urge pragmatic energy transition strategies to meet...
Infographics
Water stress levels vary in Arab countries
Some countries face more intense competition for water resources, leading to potentially severe environmental impacts. The contrast underscores the diverse...
- The region needs to develop and implement sustainable water management strategies to mitigate the growing water scarcity and its potential impacts.
- The high stress levels in GCC, in particular, highlight an urgent need for these nations to develop and implement sustainable water management strategies.