Disparities in climate action risk worsening global economic inequality, warns new report

• The WEF’s research reveals that disparities in access to green financing pose the greatest risk to economic equity across various sectors
• The findings underline the need for a fair distribution of the costs and benefits of climate action among workers, consumers, and businesses

Saudi Arabia reforms investment law, simplifies process and investor protection to achieve $100 bn FDI target

• The updated investment law, approved by the Council of Ministers on Sunday, seeks to level the playing field for both domestic and international investors
• It guarantees the rule of law, fair treatment, and the freedom to transfer funds without delay, among other protections

46,223 structures destroyed, 18,478 severely damaged in Gaza: UNOSAT

• The governorates of North Gaza and Rafah have experienced the highest rise in damage compared to the May 3, 2024 analysis
• The map shown in the report illustrates a satellite imagery-based comprehensive assessment of damage and destruction to structures

Saudi Arabia leads GCC travel growth to India with a 40% rise in flight searches: report

Dubai welcomes record 9.31 million visitors in first half of 2024

• In 2023, Dubai hosted 17.15 million international overnight visitors, and the city has maintained its strong tourism momentum into 2024
• The growth in the first six months of this year suggests that Dubai is on track for a record-breaking performance

Pre-tax net profit of Dubai Financial Market rises 74% to $53m in H1 2024

• The first half of 2024 saw an increase in trading activity, higher trade values, and a wave of new investors
• Market capitalization of DFM listed companies stands at AED 679 billion (USD 184.8 billion) in the period

GCC countries host nine million Indians, UAE alone home to 3.55 million

• Indians are employed in a wide range of professions from highly qualified fintech, healthcare, information technology, engineering and banking to blue collar jobs
• Within the GCC, the most popular destination for Indian job seekers is the UAE, which hosts 3.55 million Indians, followed by Saudi Arabia, with 2.64 million Indians

Dubai’s GDP tops $31.3 bn in Q1 2024, growing 3.2%

• The transportation and storage sector grew by 5.6 percent, contributing USD 4.2 billion (AED 15.4 billion) to the GDP, driven by increased demand for national carriers' services
• The financial and insurance sector also saw a 5.6 percent rise, reaching USD 4.1 billion (AED 15.1 billion), supported by significant growth in credit and deposit balances

Defiant Netanyahu to face US Congress amid Biden’s withdrawal

• Israel's longest-serving premier will on Wednesday become the first foreign leader to address a joint meeting of the two chambers four times
• But analysts say the Gaza war since the October 7 Hamas attacks has created worrying tensions between Israel and the United States

Saudi Arabia constitutes center for promoting moderate Islam: North Macedonia Mufti

• He expressed gratitude to Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud
• The president praised the Kingdom's government for its significant and extensive services to the Two Holy Mosques and their visitors, including pilgrims and Umrah performers