US Fed expected to look beyond Trump win and cut rates again
The labor market has remained resilient, despite a sharp hiring slowdown last month due to adverse weather conditions and a...Business
Microsoft unveils autonomous AI agents for business tasks
San Francisco, United States - Microsoft on Monday said it was enhancing its AI offerings with new autonomous agent capabilities as...Business
UAE creates federal authority for gaming, casino giants flock to country
Dubai, UAE - The United Arab Emirates (UAE) has established a federal entity responsible for regulating gaming activities within the...Ras Al Khaimah, one of the UAE's seven emirates, is planning to open a Wynn Resort valued at around $3.9 billion, which will include a casino
The decision to allow gambling comes amid heightened economic competition in the Gulf, particularly with neighboring Saudi Arabia
Tesla, Chinese EV brands jostle for limelight at German fair
Chancellor Olaf Scholz will officially inaugurate the IAA mobility show, held in Germany every two years, on Tuesday. But Monday's...The industry-wide shift towards electric vehicles will be front and centre at this week's fair, with Chinese carmakers out in force as they eye the European market
US electric car pioneer Tesla, owned by Elon Musk, will return to the IAA for the first time since 2013 and is expected to unveil a revamped version of its mass-market Model 3
Italy’s Eni plans to invest $7.7 bn in Egypt
Cairo, Egypt - Italian energy giant Eni has revealed plans to invest $7.7 billion in Egypt's energy sector over the...The company in collaboration with its partners, intends to channel these investments into various projects within the country
Eni is an integrated energy company that has presence in 69 countries around the world, including Algeria, Angola, Mexico, Indonesia and Italy
GCC Secretary General praises DCO role in digital transformation of Saudi economy
RIYADH, SAUDI ARABIA – Secretary General of the Gulf Cooperation Council (GCC)Jassem Mohamed Albudaiwi visited the Digital Cooperation Organization (DCO)...DCO plays an important role in e-development and helps in enabling countries to keep pace with the rapid growth of the digital economy.
The GCC Secretary General stressed on the importance of digital cooperation between the regional organization and the DCO.
Global space economy is worth billions, say experts
ABU DHABI, UAE - The global space economy has great potential in terms of economic prospects, with the sector going...Several studies by specialised global institutions indicate that the global space sector will be worth over US$1 trillion in the next few years.
The space economy grew 8 percent in 2022, with its value totalling US$546 billion, and is projected to grow by 41 percent in the next five years.
Iran’s oil output capacity up 40 percent in two years: Oil Minister
Tehran, UAE -- Iran’s oil production capacity has increased 40 percent in two years with the rise in investment in...Javad Owji said the daily crude oil output volume reached from the previous 2.2 million barrels of oil per day (bpd) to over 3.1 million bpd.
The gas production has increased by 40 million cubic meters in the first five months of the current Iranian calendar year (March to August 2023).
UAE and Brazil launch partnership to exchange expertise in economy
Dubai, UAE -- The governments of the UAE and Brazil have launched a partnership to exchange knowledge and expertise in...The Programme focuses on partnerships and enhancing cooperation with governments in sharing knowledge and expertise in the fields of modernization, development and government.
The launch of the partnership came as part of a visit by a Brazilian official delegation led by Alexandre Cordeiro Macedo, President Administrative Council for Economic Defense.
PIF to buy Hadeed, Rajhi Steel
New firm will help Kingdom’s steel-making capacity.The transactions are in line with PIF’s broader efforts to accelerate Saudi Arabia’s industrial development.
Move will help in construction, automotive, utilities, renewables, transport sectors in line with Saudi Vision 2030.
Improving power situation in Libya brightens life
Till last year, outages could last 20 hours, turning the streets dark and leaving residents sweltering in temperatures above 40...Chronic electricity shortages had shaped the daily lives of Libyans since the fall of Moamer Kadhafi in a NATO-backed 2011 uprising.
A decade of stop-start fighting between rival groups followed, adding combat damage and looting to the dilapidated grid in Libya.
Alahmadi joins SHUAA Board
He is set to be part of the Board's Investment Committee.Alahmadi's career includes stints at global giants like Mubadala and Rothschild & Co. More recently, he was associated with the CEO Office of ADQ
His current portfolio also includes a position as an independent member of the Audit and Risk Committee for ADX-listed firm, Presight AI Holdings.
