AI adoption in GCC surges as governments and the private sector embrace technology
With 93% of Saudi workers considering generative AI essential, alongside 95% in the Middle East and 79% globally, the region's...
Disparities in climate action risk worsening global economic inequality, warns new report
Geneva, Switzerland – A recent report by the World Economic Forum (WEF) highlights the growing concern that unequal access to...
Economy
Economy
UAE’s national digital economy set to grow $140bn by 2031
The report outlines Dubai's digital economy startups and the emirate's position as a future digital capital.
- The report outlines Dubai's digital economy startups and the emirate's position as a future digital capital
- The Dubai Chamber's plans include attracting 300 digital startups and 100 tech experts to Dubai by 2024
Geostrategy
Blinken meets Israeli, Palestinian leaders for peace
US Secretary of State Antony Blinken met Israeli and Palestinian leaders on his Middle East tour aimed at curbing the...
- US Secretary of State Antony Blinken spoke of strengthening ties with the Palestinian Authority and the people of Palestine.
- The US official met with some emerging leaders and members of the Israeli civil society.
Economy
China’s general public budget revenue tops $3.01 trillion in 2022
General public budget revenue grew 9.1 percent from 2021, excluding the impact of value-added tax credit refunds, according to the...
- General public budget revenue grew 9.1 percent from 2021, excluding the impact of value-added tax credit refunds, according to the Ministry of Finance
- Monday's data also shows that the country's general public budget spending expanded 6.1 percent year-on-year to 26.06 trillion yuan in 2022
Geostrategy
UAE President postpones visit to Pakistan due to ‘weather’
During the visit, UAE President and Pakistan's Prime Minister were due to discuss areas of mutual cooperation between the UAE...
- During the visit, UAE President and Pakistan's Prime Minister were due to discuss areas of mutual cooperation between the UAE and Pakistan
- However, the PMO statement said today that the visit to the capital will now be rescheduled, adding that the new dates will be announced soon
Science
Arab Health 2023: Emirates Health Services unveils ‘Microbubble treatments for Children’
‘Microbubble Treatments for Children’ programme research project is being pursued in partnership with the Children’s Hospital of Philadelphia.
- ‘Microbubble Treatments for Children’ programme research project is being pursued in partnership with the Children’s Hospital of Philadelphia
- The project aims to administer various treatments through microscopic bubbles that moves in the bloodstream to reach the target areas as needed
Business
Iran, Russia link banking systems amid western sanctions
Linking of banking system with Russia is seen as an attempt by both the countries to get around the US...
- Linking of banking system with Russia is seen as an attempt by both the countries to get around the US economic sanctions
- Iran's top authority, Supreme Leader Ali Khamenei, said on Monday that the country faced "a tangible welfare and livelihood problem."
Geostrategy
Abu Dhabi Global Market receives French delegation
ABU DHABI, UAE - Abu Dhabi Global Market (ADGM) Monday received a French delegation to strengthen bilateral relations through dialogues...
- ADGM is home to an increasing number of French companies including renowned anchor tenants such as BNP Paribas Group.
- Dialogues were exchanged through an open platform discussion along with closed-door sessions and roundtables.
Business
ADIB net profit in 2022 is $985m
ADIB's revenue increased by 23% to US$1.8 billion in 2022.
- ADIB reported a 60 percent growth in the fourth quarter of 2022 with a net profit of US$326 million.
- The bank's revenue in 2022 was driven by a 43 percent increase in fees and commissions and a 24 percent growth in funded income.
Economy
UAE launches project to establish centralized database of industrial companies
ABU DHABI, UAE - UAE Ministry of Industry and Advanced Technology (MoIAT) Monday launched the Industrial Census project, in collaboration...
- The project aims to create a comprehensive database of all establishments that practice industrial activities.
- The project will help create new investment opportunities for manufacturers, investors and owners of industrial companies.
Economy
Oil falls ahead of OPEC+, US Federal Reserve meetings
Brent crude futures were down 74 cents, or 0.8 percent, to $85.92 a barrel at 0710 GMT, while West Texas...
- Brent crude futures were down 74 cents, or 0.8 percent, to $85.92 a barrel at 0710 GMT, while West Texas Intermediate crude was down 61 cents
- The US central bank is expected to raise interest rates by at least 25 basis points in its policy meeting on January 31-February1
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AI adoption in GCC surges as governments and the private sector embrace technology
With 93% of Saudi workers considering generative AI essential, alongside 95% in the Middle East and 79% globally, the region's...
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Mashreq’s net profit surges 122%
Business
Iran executes man convicted of spying for Israel: judiciary
According to human rights groups, including Amnesty International, Iran executes more people per year than any other nation except China....
Geostrategy
KIPCO sells its stake in GIG
The deal is valued at 256 million Kuwaiti Dinars ($832 million).
Business
UAE to strengthen digital infrastructure in Azerbaijan
Abu Dhabi, UAE – The UAE and Azerbaijan have signed a Memorandum of Understanding (MoU) aimed at strengthening the digital...
Economy
Most Read
Business
ENEC, CNNC sign MoU
Both the firms will offer their expertise in the sector.
- The two firms will collaborate on identifying potential development and co-investment opportunities for new international nuclear energy plants.
- They will form a Joint Working Group to leverage their strengths in project management, nuclear technology development and implementation.
Geostrategy
Iran announces visa exemption for Saudi Arabia, 32 other countries
Tehran, Iran — Iran has waived visa requirements for passport holders from 33 nations, signaling a significant step in opening...
Geostrategy
Saudi Foreign Minister seeks British role in Gaza truce in meeting with Cameron
London, Britain - Saudi foreign minister on Thursday Prince Faisal bin Farhan bin Abdullah called on the international community, especially...
- Prince Faisal also highlighted the need for creating conditions for the return of stability and the restoration of "a comprehensive and just peace" in Gaza
- They also discussed the developments in the Gaza Strip and the need to ensure that violence does not escalate so as to achieve full protection for civilians