Stocks firm, dollar subdued as market flirts with outsized Fed cut
Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start...
Economy
Asia-Pacific markets mixed, dollar down Monday as Fed readies to acknowledge cuts
Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a...
Economy
Geostrategy
Global crises, AI key focuses of World Economic Forum
The upcoming Davos summit is set to become a melting pot of discussions on critical global issues, including the conflicts...
- The upcoming Davos summit is set to become a melting pot of discussions on critical global issues, including the conflicts in Gaza and Ukraine, and the rapid rise of AI.
- With leaders like President Volodymyr Zelensky attending, the forum promises intense dialogues on geopolitical challenges and opportunities for rebuilding trust.
Economy
Tawazun Council acquires TASNEEF
Subsidiaries of TASNEEF were also acquired.
- This strategic move aims to enhance the council's role in developing national defense industries, the Council said.
- TASNEEF has established a number of services, including issuing rules of relevance to the classification of ships.
Business
Bahrain Steel raises $450m SLL
The company produces and supplies high-grade iron ore pellets.
- The proceeds from this loan will be directed towards CAPEX for constructing the world’s largest stockyard shed with rooftop solar panels.
- The SLL's framework incentivizes Bahrain Steel to exceed mandatory greenhouse gas (GHG) emissions reductions.
Business
Saudi insurance sector shows 14.6 percent growth in Q3 of 2023
RIYADH, SAUDI ARABIA- The Insurance Authority (IA) has issued its first report on the performance of the sector in the...
- The report has been issued to provide transparent and accurate information about the performance of the insurance sector.
- The report showed a 2.2 percent increase in the insurance sector’s penetration ratio to non-oil GDP in Q3 of 2023.
Business
ESG and sustainability redefine UAE financial markets
"The UAE's success in establishing a fully regulated carbon market, integrating carbon regulation to manage and trade emissions effectively, providing...
- Nadim Najjar of LSEG highlights UAE's commitment to net-zero emissions and sustainable practices.
- Strategic alliance between ADX and LSEG exemplifies a commitment to sustainability, he adds.
Economy
2023: A year of technological triumphs in the GCC
This year, the GCC region has solidified its technological leadership, with AI, blockchain, and the metaverse leading the charge in...
- In 2023, the GCC region has solidified its technological leadership, with AI, blockchain, and the metaverse leading the charge in transforming various sectors.
- The GCC's 2023 tech journey has been marked by significant strides in sustainable technology, cybersecurity, and a bold entry into space exploration.
Geostrategy
UNSC approves aid resolution as Gaza crisis mounts
As fighting between Israel and Hamas intensifies, the UN Security Council has passed a resolution to enhance aid to Gaza,...
- As fighting between Israel and Hamas intensifies, the UN Security Council has passed a resolution to enhance aid to Gaza, where civilians face severe hardships.
- Escalating conflict between Israel and Hamas in Gaza has led to over 410 deaths in 48 hours and intense urban warfare, triggering a severe humanitarian crisis.
UNCTAD eWeek focuses on AI risks, e-commerce growth in developing countries
At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and...
- At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and ensure a secure digital future.
- Australia committed $2 million to UNCTAD for e-commerce support in developing nations, as Kenya unveiled a national strategy to spur its digital economy growth.
Geostrategy
UAE leads humanitarian efforts in Gaza, seeks truce
"The Gulf country will continue its efforts to achieve peace through tangible steps and a roadmap for a two-state solution....
- The UAE strongly condemns Israel’s collective punishment and displacement policies.
- The country remains committed to Palestinian humanitarian aid and medical support.
Geostrategy
Kuwait, world mourn passing of Emir Sheikh Nawaf; welcome Sheikh Meshal as successor amid challenges
The Gulf country sees a seamless transition of power as Sheikh Meshal ascends to emir following the death of Sheikh...
- The Gulf country sees a seamless transition of power as Sheikh Meshal ascends to emir following the death of Sheikh Nawaf, amidst global condolences and internal challenges.
- Public offices in Kuwait will close for three days, and a 40-day mourning period is declared following Sheikh Nawaf's death, who was hospitalized in November.
Stocks firm, dollar subdued as market flirts with outsized Fed cut
Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start...
Economy
Company News
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‘UAE outpaces major nations in human development’
“These efforts ensure sustainable development across all sectors, promising a bright future for generations to come,” he adds, referring to...
Economy
Dubai approves rise in energy, water efficiency programs
DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st...
Geostrategy
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
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Geostrategy
UAE rises to seventh rank globally in UN gender balance index
Dubai, UAE -- The UAE advanced to the seventh rank globally in the Gender Inequality Index 2024, issued by the...
- The UAE rose from its 49th place in 2015 and 11th place in 2022 from Gender Inequality Index 2024 by the UNDP.
- The UNDP announced UAE's achievement during the meetings of the 68th session of the Commission on the Status of Women, being held until 22 March in New York.
Geostrategy
GCC seeks travel ease with Schengen visa exemption
GCC Secretary General Jasem Albudaiwi calls for visa-free travel to Europe, aiming to simplify the journey for Gulf citizens to...
- GCC Secretary General Jasem Albudaiwi is advocating for visa-free travel to Europe, aiming to simplify the journey for Gulf citizens to the continent.
- With plans for a Unified Tourist Visa and streamline travel safety measures, the GCC is paving the way for a more interconnected and accessible world.
Geostrategy
‘Multilateral approach needed to address Gaza crisis’
The 'Amalthea' initiative, recently announced by Cyprus, is crucial for the efforts to launch the maritime corridor and the UAE...
- A concerted international effort is underway to open humanitarian corridors to Gaza, with a focus on a maritime corridor for urgent aid delivery.
- The 'Amalthea' initiative, aiming to safely ship aid from Cyprus to Gaza by sea, marks a critical step in international efforts to alleviate the crisis.