WEF25: Saudi delegation calls for nations to put “greater good” first
The international community must prioritize cooperation and dialogue to overcome the challenges of a fragmented world, the Saudi delegation to...
Economy
UAE leads solar energy growth with strategic projects
Abu Dhabi, UAE - A new report highlighted the UAE's leadership in the regional solar energy sector, driven by initiatives...
Science
New WEF report reveals technologies to impact world in the next five years
TIANJIN, CHINA - The World Economic Forum on Tuesday announced its annual list of breakthrough technologies with the greatest potential...
- The new technologies include flexible batteries, generative AI and sustainable aviation fuel.
- These would be disruptive, attractive to investors, researchers, and achieve considerable scale within five years.
Geostrategy
Global body to fund 26 FAO projects worth $174.7m
ROME, ITALY - Building on growing momentum to tackle environmental problems by addressing the ways in which our food and...
- With these new projects, FAO's partnership with the GEF will have helped countries access over $1.4 billion in financing.
- These 26 projects will support countries to create or improve the management of nearly 17.9 million hectares of protected areas on land and sea
Business
Aquaterra gets UAE contract
Firm will deliver a complete end-to-end managed service.
- Aquaterra Energy will work closely alongside in-country partners to manufacture and transport the project equipment.
- This will provide thousands of hours of local employment for the region, as well as opportunities for upskilling and knowledge sharing.
Economy
Central Bank of Bahrain treasury bills oversubscribed by 109%
Manama, Bahrain - This week’s BD 70 million issue of Treasury Bills of Government of Bahrain have been oversubscribed by...
- The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain (CBB), on behalf of the Government of Bahrain
- The weighted average rate of interest is 6.15 percent compared to 6.11 percent in the previous issue on June 21
Geostrategy
UAE President discusses strategic ties in a call with Putin
Abu Dhabi, UAE - UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed strategic relations in a phone conversation with...
- Sheikh Mohamed underscored the importance of maintaining stability in Russia and ensuring the safety and security of its people
- President Putin expressed his satisfaction with the progress achieved in various bilateral areas, highlighting growing UAE-Russia relations
Business
OPEC chief anticipates a 23% rise in global oil demand by 2045
Kuala Lumpur, Malaysia - The Organization of the Petroleum Exporting Countries (OPEC) expects global oil demand to rise to 110...
- The CEO of Saudi oil company (Aramco) Amin Nasser predicted that the fundamentals of the global oil market will remain sound for the rest of this year
- Although China is facing some economic headwinds, the transport and petrochemical sectors are still showing signs of demand growth, Nasser noted
Economy
UAE national banks provide $11bn in financing to commercial, industrial sectors
Dubai, UAE - National banks in the UAE have increased their credit financing to the business and industrial sectors by...
- The data reveals that the UAE banks provided a total of $201 billion to the business and industrial sectors by April 2023
- Traditional banks were the primary source of credit financing for these sectors, providing $184 billion or 82.5 percent of the total
Arts & Culture
Saudi Arabian Football Federation launches funding program for women clubs
RIYADH, SAUDI ARABIA – The Saudi Arabian Football Federation (SAFF) announced unprecedented funding and support for women’s football clubs. This...
- SAFF will provide financial help to Saudi Premier League and Women's First Division clubs and will allocate US$13 million for the purpose.
- Only those clubs which have a SAFF membership and Nafes license to participate in women’s tournaments will be eligible for the funding.
Economy
Remittance flows to Egypt to surge by 3.1% in 2023: World Bank
Cairo, Egypt - The remittances to Egypt, the biggest recipient of such flows in the MENA region, are set to...
- Remittances, which amount to billions of dollars, play a crucial role in supporting the national economy
- The majority of the remittances sent by the diaspora, half of which lives in GCC nations, go back to Egypt
Business
Middle East airlines set to hire 78,000 cabin crew, 28,000 pilots by 2032
Dubai, UAE - The Middle East region is expected to experience a demand for 78,000 cabin crew members, 28,000 commercial...
- The global aviation sector will need1.3 million professionals in various roles within the next ten years
- Although the aviation industry has been impacted by the COVID-19 pandemic, the report remains optimistic about the ongoing recovery process
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WEF25: Saudi delegation calls for nations to put “greater good” first
The international community must prioritize cooperation and dialogue to overcome the challenges of a fragmented world, the Saudi delegation to...
Economy
Company News
Latest News
Saudi foreign minister meets UNRWA chief in Riyadh, promises support
Riyadh, Saudi Arabia — Saudi Minister of Foreign Affairs Prince Faisal bin Farhan received Philippe Lazzarini, commissioner general of the...
Geostrategy
Biden’s age under renewed scrutiny following damning revelations in documents investigation
Even before the special counsel report the White House was already on the back foot, facing repeated questions at a...
Geostrategy
Aldar Properties awards contracts worth US$2.8bn
ABU DHABI, UAE - Aldar Properties has announced the awarding of 49 contracts, totaling US$5.9 billion (AED22 billion), for a...
Business
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Economy
44% of workers’ core skills will be disrupted by 2027: WEF
The world of work is changing fast. By 2027, businesses predict that almost half (44%) of workers’ core skills will...
- The global unemployment rate could rise from 5.1% to 5.2% in 2024, with an extra two million workers expected to be looking for jobs
- The impact of AI on jobs was not going to be "an employment apocalypse", but that reskilling, upskilling would be key to managing the transition
Geostrategy
Saudi Arabia to US: No Israel ties until Palestinian statehood within 1967 borders
Riyadh, Saudi Arabia - Saudi Arabia on Tuesday explicitly conveyed to the United States its stance on diplomatic relations with...
- The announcement comes amidst ongoing discussions between Saudi Arabia and the US regarding the Arab-Israeli peace process
- The spokesperson for the US National Security Council had recently commented on these discussions, further emphasizing their significance
Geostrategy
UAE, Russian Presidents discuss regional and global developments
ABU DHABI, UAE - President Sheikh Mohamed bin Zayed Al Nahyan spoke by telephone to President of the Russian Federation...
- Sheikh Mohamed reiterated the UAE's steadfast commitment to promoting peace and stability both regionally and globally.
- The UAE and Russian Presidents discussed several issues of mutual interest, with a particular focus on the Ukraine conflict.