Global workforce transformation by 2030: WEF predicts 78 million new jobs amid disruptive changes
The widening skills gap challenges employers, with over 59% of the workforce needing reskilling while millions risk redundancy due to...
Economy
UAE labour market transforms with AI revolution and growing demand for high-skill professions
The country is among the most attractive markets for skilled global professionals and talent, thanks to its competitive advantages, including...
Economy
UAE airports record 56% growth in Q1 with 32m passengers: GCAA
Abu Dhabi, UAE - Passenger traffic through the UAE's airports during the first quarter of 2023 increased by 56.3 percent...
- UAE's civil aviation sector has managed to restore pre-pandemic passenger traffic levels, Director-General of the General Civil Aviation Authority (GCAA), Al Suwaidi said
- The aviation sector in the country contributes about 14% of the gross domestic product, while in major countries, the aviation sector's contribution does not exceed 2 to 3%
Business
QOIC reports 38% profit in Q1
The company reported an increase in its EPS to QR 0.014.
- The company's net profit rose by 37.89 percent to reach QR 4.552 million ($1.253 million)
- It also reported a rise in its Earnings Per Share (EPS), which amounted to QR 0.014 ($0.0039)
Abu Dhabi named smartest city in MENA region and 13th globally
Abu Dhabi, UAE - Abu Dhabi has been named the smartest city in the Middle East and North Africa (MENA)...
- The study surveyed 120 residents in each of the 118 cities and evaluated infrastructure and digital services available to them
- It focussed on five main pillars: health and safety, mobility, activities, work and education system, and governance.
Kuwait Crown Prince dissolves National Assembly, again
Kuwait City - Kuwait's Crown Prince, Shaikh Mishal Al-Ahmad Al-Jaber Al-Sabah, issued a decree on Monday to dissolve the National...
- Despite being the only Gulf Arab state to have an elected government, the emirate - one of the world's largest producers of crude oil - remains mired in political turmoil
- The country suffers from constant stand-offs between elected lawmakers and cabinets installed by the reigning Al-Sabah family, which keeps a firm grip on political life
Business
Over 3.8m passengers transit through Sharjah Airport in Q1 of 2023
SHARJAH, UAE - Over 3.8 million passengers traveled through Sharjah Airport in the first quarter of 2023, recording a 28.01...
- The aircraft movement in Q1 of 2023 rose by 9.02 per cent, with 23,261 flights compared to 21,336 flights during the same period in 2022.
- There have been continued efforts by Sharjah Airport Authority to increase passenger numbers and aircraft movements.
Business
Eshraq to buyback shares
The share buyback is expected to enhance shareholder value.
- The shareholders recommended Eshraq increase the shareholder distribution via an increased share buyback program.
- The buyback will capitalize on the current share price discount compared to the company’s book value.
Business
Etihad Cargo introduces weekly flights to fourth Chinese destination
Abu Dhabi, UAE - Etihad Cargo added a fourth gateway destination to its Chinese network with the introduction of weekly...
- With the start of two weekly freighter services between Abu Dhabi and Wuhan, Etihad Cargo will operate a total of ten freighter services to China.
- The flights between Abu Dhabi and Wuhan will give Etihad Cargo's partners and customers greater accessibility to 25 domestic Chinese destinations.
Business
AD Ports Group purchases bulk carriers, crude oil tankers
ABU DHABI, UAE - AD Ports Group has announced plans to expand its fleet by purchasing five bulk carriers and...
- These vessel acquisitions will follow the recently signed agreements as part of the Group’s strategic global expansion objectives.
- The five bulk carriers, to be purchased for AED459 million, form part of the long-term agreement with Saif Powertec, signed in April 2022.
Economy
Qatar’s industry PPI down by 2.56 percent in March
The Planning and Statistics Authority (PSA) said Monday , the PPI of March 2023 for the Mining and Quarrying showed...
- The PPI include four main industry sectors-- mining (82.46 percent), manufacturing (15.85 percent), electricity (1.15 percent) and Water (0.52 percent).
- The prices decrease is seen in refined petroleum products by 2.39 percent, followed chemicals and chemical products by 0.95 percent
Science
Bahrain free of India-made ‘contaminated’ cough syrup
Manama, Bahrain - Bahrain has taken steps to ban from its markets the contaminated cough syrups made in India in...
- The National Health Regulatory Authority (NHRA) on Sunday confirmed that the Kingdom's markets are free of Indian cough syrup
- The Authority has reassured the public that it is committed to ensuring the safety of medicines and pharmaceuticals circulating in the Kingdom
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Global workforce transformation by 2030: WEF predicts 78 million new jobs amid disruptive changes
The widening skills gap challenges employers, with over 59% of the workforce needing reskilling while millions risk redundancy due to...
Economy
Company News
Blinken, Wang discuss Gaza war in phone call
Geostrategy
Latest News
Tawzea, NWC ink pacts
Business
Saudi Dakar rally 2024 concludes with participation of 778 drivers, co-drivers
Riyadh, Saudi Arabia - The city of Yanbu witnessed on Friday evening the closing ceremony of the 5th edition of...
Pakistan, Dubai ink deals worth $3 billion at Davos
Davos, Switzerland - Pakistan and Dubai signed two agreements totaling over $3 billion on the sidelines of the World Economic...
Economy
Houthis say US ship hit in latest attack, promise safe passage for Russian, Chinese ships
In its own statement, the US military's Central Command, which is responsible for the Middle East, said the Houthis on...
Most Read
Business
UAE ranks first in Arab world in labor-resilient countries, says report
Dubai, UAE - Against the backdrop of the World Economic Forum in Davos, Whiteshield announces the release of the Global Labor...
- As the world confronts the challenges of global warming and the transition to a sustainable future, the impact on labor markets looms large.
- The direct consequences of climate change, including displacement, migration, and fluctuations have become increasingly pervasive.
Business
Turkey’s Tosyali plans $5bn investment for steel plant in Saudi Arabia: report
Riyadh, Saudi Arabia - Turkish-based Tosyali Holding is making nearly $5 billion investment in a new steel plant in Saudi...
- The investment is part of Tosyali Holding's broader expansion strategy, which encompasses ventures in Algeria, Angola, Senegal, and Spain
- In line with their renewable energy efforts, Tosyali Holding plans to boost its solar output from the current 240 megawatts to 2,500 megawatts
Business
Aramco chief expects oil demand to rise by 1.5 mbpd in 2024
Riyadh, Saudi Arabia - Saudi Aramco's President and CEO, Amin Nasser, anticipates a surge in global oil demand, projecting an...
- Amin Nasser pointed out that the global oil market is poised for a supply shortage as consumer stockpiles have dwindled by 400 million barrels over the past two years.
- He acknowledged that while global oil markets can manage short-term disruptions in the Red Sea, sustained attacks on ships could lead to a shortage of tankers