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
Saudi Arabia records $5.6 billion trade surplus in October 2024 with 30% growth
Riyadh, Saudi Arabia - Saudi Arabia’s trade balance recorded a 30% monthly growth, achieving a surplus of SAR 20.769 billion...
Economy
Geostrategy
Saudi Crown Prince, Russian President discuss bilateral ties
Riyadh, Saudi Arabia - Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz Al Saud discussed bilateral...
- The two leaders exchanged views on a number of issues of common concern, Saudi Press Agency reported
- Earlier, the duo spoke by phone in September 2022 to express their satisfaction over a prisoner-of-war swap
Private sector central to Qatar’s SDG goals: UN Representative
New York, United States - Qatar wants to put the private sector at the centre of its 2030 Agenda for...
- Saif Al-Thani referred to the fruitful partnership between Qatar and the private sector for implementing the Qatar National Vision 2030
- 'Qatar investment fund for climate change' is investing in projects and companies that are in line with the Sustainable Development Goals
Geostrategy
Saudi, Iran foreign ministers talk on phone, discuss next steps in ties
Riyadh, Saudi Arabia - Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah received a phone call from...
- China recently brokered the restoration of ties between Iran and Saudi Arabia, rivals in a region where the US for decades has been the main diplomatic powerbroker
- The two Middle East powerhouses had held several rounds of dialogue in Iraq and Oman before reaching the agreement to mend ties on March 10 in China
Science
Discover first Arab lunar mission in augmented reality
The Mohammed Bin Rashid Space Centre and Atlantic Productions make the Rashid Rover's journey to the moon exciting with a...
- Join the Rashid Rover on its epic mission to the moon, and rediscover the thrill, excitement and pure magic of space exploration from the comfort of your own home
- This interactive educational AR experience available in both iPhone and Android phones is designed to inspire curiosity about space, science, and technology in people of all ages
Economy
WTO, WBG, WEF launch scheme for trade, climate mitigation efforts
GENEVA, SWITZERLAND - The World Trade Organization (WTO), the World Bank Group (WBG) and the World Economic Forum (WEF) on...
- The initiative Action on Climate and Trade (ACT) . which starts with a pilot phase, will focus on working with participating developing economies.
- ACT will provide participating economies with tailored insights so that they can plan for the impacts of climate change on trade.
Business
Mastercard, DIFC to partner with FinTech companies for digital transformation
Dubai, UAE - Dubai International Financial Centre (DIFC), the leading financial centre in the Middle East, Africa and South Asia...
- The partnership will provide FinTech companies with access to Mastercard's network and DIFC's financial ecosystem
- The collaboration will focus on creating new payment solutions and digital services, as well as enhancing existing ones
Economy
Perfect storm will make dollar biggest loser of 2023: deVere CEO
The warning from the boss of the financial giant follows the dollar having already dropped 10 percent from its peak...
- The warning from the boss of the financial giant follows the dollar having already dropped 10 percent from its peak hit last year
- He warns that there is a transition underway from a bull to a bear cycle for the dollar and that this will impact the global investment environment
Business
DIB Q1 profit up
Net financing and sukuk investments stood at $65.35bn.
- DIB's total income rose to AED 4.431 billion ($1.21bn) compared to AED 3.016 billion ($820m), a solid expansion of 47 percent YoY.
- Net operating revenues showed a robust 12 percent YoY to reach $750 million, while net operating profit stood at $550 million.
Business
MBM Holding, Portland Holdings ink MoU
Firms will work together on nuclear, renewable energy.
- The two firms seek to address global challenges by adopting innovative solutions in health sciences and nuclear and clean energy.
- The MoU comes as part of the UAE’s Year of Sustainability in preparation for the country's hosting of COP 28 to promote environmental sustainability.
Business
OPEC Fund, UNIDO enhance cooperation to advance clean energy transition
Vienna, Austria - The OPEC Fund for International Development (the OPEC Fund) and the United Nations Industrial Development Organisation (UNIDO)...
- They also signed a US$1.5 million technical assistance grant agreement in support of the National Clean Cooking Transition Programme in Madagascar
- We look forward to collaborating with UNIDO to help deliver the Sustainable Development Goals, said OPEC Fund Director-General Dr Abdulhamid Alkhalifa
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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
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
Company News
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Ooredoo, QNBN sign agreement
Business
Saudi Arabia, China ink MoU in accounting and auditing
RIYADH, SAUDI ARABIA – The Kingdom and the People’s Republic of China signed on Monday in Beijing a memorandum of...
Geostrategy
Record demand for Dubai luxury homes despite rising prices
Dubai, UAE - Dubai saw record-breaking sale prices throughout 2023, with super-luxury residences selling for up to US$4,000 (AED14,692) per...
China Construction Bank lists $600m green bond in Nasdaq Dubai
DUBAI, UAE - Nasdaq Dubai has welcomed the listing of a US$600 million green bond by China Construction Bank (DIFC...
Business
Most Read
Economy
AI to impact 60% of advanced economy jobs: IMF’s Georgieva
The IMF sees an important opportunity for policy prescriptions to help address these concerns, Georgieva told AFP. "We must focus...
- The IMF report notes that half of the jobs impacted by AI will be negatively affected, while the rest may actually benefit from enhanced productivity gains due to AI
- AI will initially have a lower impact on developing economies and they are also less likely to benefit from the advantages of the novel technology, according to the report
Geostrategy
Saudi Scouts Association to participate in Republic Day Camp in India
Riyadh, Saudi Arabia - The Saudi Arabian Boy Scouts Association will participate in the Republic Day Camp (RDC) in India...
- The camp, with the participation of 25 countries, includes a series of activities aimed at promoting awareness of cultural traditions and exchange between the participating nations
- It seeks to enhance values, integration, unity, and diversity while instilling a sense of patriotism, discipline, and leadership qualities
Business
Global personal computer shipments decline 14.8 percent in 2023
DUBAI, UAE - Worldwide PC shipments totaled 63.3 million units in the fourth quarter of 2023, a 0.3 percent increase...
- PC shipments reached 241.8 million units in 2023, a 14.8 percent fall from 2022.
- This is the first time that shipment volume has dipped below 250 million since 2006.