Dubai tourism shines: 25 percent repeat visitors, rising AI use
Dubai, UAE -- Dubai Corporation for Tourism and Commerce Marketing (DCTCM) has confirmed that 25 percent of visitors to Dubai...
Business
US Department of State issues favorable 2024 Bahrain Investment Climate Statement
The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a...
Economy
YEARENDER
GCC soars in global space race with key advancements
Saudi Arabia's new Saudi Space Agency and first ISS mission, coupled with UAE's Hope Probe and lunar projects, underscore their...
- Saudi Arabia's new Saudi Space Agency and first ISS mission, coupled with UAE's Hope Probe and lunar projects, underscore their rising status in global space sector.
- Bahrain's development of its first satellite and Kuwait's CubeSat initiative underscore the Gulf region's commitment to space technology and research.
Economy
Palestine sees 3.7% economic shrink amid conflict
The World Bank reports a severe economic downturn in Palestinian economy due to Israel-Hamas conflict, with Gaza's economic contribution falling...
- The World Bank reports a severe economic downturn in Palestinian economy due to Israel-Hamas conflict, with Gaza's economic contribution falling from 36% to 17% since 2005.
- Despite the conflict in Gaza causing job losses, infrastructure damage, and rising poverty, the Palestinian banking sector has shown resilience amidst the ongoing crisis, it adds.
COP28 UAE
World unites at COP28 to shift away from fossil fuels
Nearly 200 nations in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step...
- Nearly 200 countries in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step in addressing climate change.
- EU climate chief Wopke Hoekstra lauds the historic deal targeting a 43% reduction in emissions by 2030 as a significant breakthrough after decades of discussions.
UNGA strongly endorses ceasefire in Gaza conflict
The UN General Assembly passes a resolution demanding an immediate ceasefire in Gaza, highlighting the Security Council's inaction and putting...
- The UN General Assembly passes a resolution demanding an immediate ceasefire in Gaza, highlighting the Security Council's inaction and putting pressure on Israel and the US.
- The resolution, supported by an overwhelming majority, underscores the growing global concern over the humanitarian crisis in Gaza and the need for urgent peace efforts.
Geostrategy
MSF demands immediate, sustained truce in Gaza as toll rises to 15,899
Doctors Without Borders (Médecins Sans Frontières, MSF) has urgently called for a ceasefire in Gaza amid escalating violence and rising...
- MSF UAE's Executive Director, Dr. Khalid El Sheikh, highlights severe violence in Gaza.
- Israeli military operations in Gaza criticized for impacting civilians and medical facilities.
Presight AI, Samruk-Kazyna launch JV
The partnership aims to accelerate digital transformation in Kazakhstan.
- Revealed at COP28, the venture aims to deploy advanced AI and big data solutions.
- Energy, public services, and transport in Kazakhstan to benefit from big data analytics.
Geostrategy
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...
- ICC stresses the need for adherence to international humanitarian law despite conflict complexities.
- Both Hamas and Israel face the possibility of war crime charges, according to legal experts.
COP28 UAE
$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...
- The fund signifies a pivotal moment in climate diplomacy, reflecting a growing acknowledgment of the need for tangible support for those most vulnerable to climate change.
- This initiative by the UAE and Germany at COP28 marks a new era of responsibility and cooperation among nations, setting a hopeful tone for the remainder of the conference.
Geostrategy
UAE President announces $30bn Global Climate Fund at COP28 meet
In a groundbreaking announcement at the World Climate Action Summit during the UN Climate Change Conference (COP28), UAE President Sheikh...
- The fund, designed to address the critical gap in climate financing, aims to enable affordable access to climate finance.
- The UAE President highlighted the global urgency of addressing climate change and its pervasive impacts on life.
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.
Dubai tourism shines: 25 percent repeat visitors, rising AI use
Dubai, UAE -- Dubai Corporation for Tourism and Commerce Marketing (DCTCM) has confirmed that 25 percent of visitors to Dubai...
Business
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Non-oil trade between UAE and US hits $31.4 billion in 2023
Abu Dhabi, UAE -- Non-oil trade between the UAE and the United States reached $31.4 billion in 2023 and is...
Business
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...
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...
Geostrategy
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Business
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...
- PIF's assets rose by $163.6 billion, compared to $776.7 billion at the end of December 2023, according to the latest data from the SWF Institute, Argaam reported.
- Norway’s Government Pension Fund Global ranked first with $1.64 trillion assets, followed by China Investment Corp.
Geostrategy
‘UAE leads humanitarian efforts in Gaza, seeks truce’
“Following the outbreak of the crisis between Palestinians and Israelis, the UAE initiated extensive diplomatic efforts at all levels to...
- UAE rejects Israel's collective punishment policies against Palestinians.
- The Gulf country calls for a truce and establishment of a Palestinian state.
Business
Saudi Arabia sees over $11.9bn investments on Day 1 of LEAP 2024
Riyadh, Saudi Arabia -- Saudi Arabia's Ministry of Communications and Information Technology announced has said that the Kingdom witnessed technology...
- Amazon Web Services will invest $5.3 billion in the Kingdom to create a high-capacity cloud region, the ministry said on its official X account, according to Argaam.
- Data Vault will invest $5 billion to build sustainable and innovative data centers, with a capacity of more than 300 megawatts, it further added.