Energy-related global CO2 emissions hit record levels in 2023, says IEA
PARIS, FRANCE – Energy-related carbon dioxide emissions rose to a record level in 2023, but the growth slowed from previous years...Business Energy Global
Digital transfers reshape MENA’s financial landscape
The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong...Business Banking & Finance
Young Libyans take to e-gaming in a big way as tech revolution sweeps the region
Tripoli's mushrooming arcades have driven rapid growth in Libya's nascent gaming community, Mattouss says. The increasingly organized community is "motivating...Unlike in other Arab states, "the gaming community was completely dead here" until recently, says Sofiane Mattouss, who runs the business set up in 2022
Gaming industry experts say the Middle East and North Africa are high-growth regions, with Saudi Arabia, the UAE and Egypt among the largest markets
UAE Unemployment Insurance Scheme subscribers exceed 1m
DUBAI, UAE - Â UAE Ministry of Human Resources and Emiratization (MoHRE) announced that the Unemployment Insurance Scheme has exceeded one...The Unemployment Insurance Scheme covers employees in the federal government sector and the private sector.
The scheme provides low-cost job security net that supports the career path and living stability of employees in the UAE.
Italy to investigate Meta over music copyright violations
Meta is accused of exploiting its dominant position in the market "by asking SIAE to accept an inadequate economic offer,...The Italian Competition Authority said it was probing Meta's "alleged abuse of economic dependence" of the Italian Society of Authors and Publishers.
The alleged unfair practices could prevent musical artists from "reaching the ever-widening category of users who enjoy social platforms," it said.
German anti-cartel watchdog puts Apple under surveillance
Products like the hugely successful iPhone meant Apple presided over a "wide-ranging digital ecosystem which is of great importance to...The Federal Cartel Office said it had determined Apple to be a company of "paramount significance for competition across markets'.
Apple joins Amazon, Google parent Alphabet and Meta, the group behind Facebook, in falling under reinforced monitoring.
Jordan’s $1.25 billion Eurobonds oversubscribed six times
Dubai, UAE – Jordan’s Ministry of Finance and Central Bank Wednesday said they have completed the issuance of $1.25 billion...The kingdom's finance ministry reduced the coupon rate by 25 basis points from 2022's issue of 7.75 despite the US Federal Reserve raising interest rates seven times since.
Jordanian media reports said the number of subscribers exceeded 230, including some of the largest global investment houses.
WTO sees 2023 global trade growth at 1.7 percent
The World Trade Organization said 2023 global trade growth would be slightly better than feared, but would remain "subpar", weighed...The forecast was slightly better than feared last October, when the WTO projected 2023 trade growth would be as low as one percent.
The organization's economists also estimated that real global GDP growth at market exchange rates would be 2.4 percent this year.
UBS shareholders grill bosses over Credit Suisse mega-merger
The annual general meeting of UBS is being held in the St. Jakobshalle indoor arena, famously the stomping ground of...UBS and Credit Suisse shareholders had no say in mega-merger, which was engineered behind closed doors by Swiss government, the central bank and the financial regulators
Credit Suisse shareholders have seen the value of their investment plunge from 12.78 Swiss francs per share in February 2021 to 0.76 francs they will receive in the banks merger
Emirates REIT 2022 profit up
Net Property Income for the period was $55 million.The REIT recorded a 4 percent year-on-year decline in Property Operating Expenses to US$12 million in 2022
Net Property Income increased 15 percent year-on-year, demonstrating the strong market for the REIT’s core assets
Lufthansa to sell catering unit
LSG Group is to be sold to private equity group Aurelius.The airline giant had already sold LSG's European operations activities to Swiss-based Gategroup in 2019.
The Lufthansa group was brought to the brink of bankruptcy when the COVID-19 pandemic saw global air travel grind to a halt.
Fans wait to see if Apple joins quest for the metaverse
All eyes are on whether Apple will commit to releasing long-rumored VR or augmented reality (AR) "goggles" at its annual...Apple's approach to the metaverse would likely be different from that of Meta, which has proclaimed it the future of the internet but slowed its substantial investments
Wedbush believes Apple will unveil "Glasses" AR/VR headsets at the developers conference in June, at a price in the vicinity of $2,500, though others say $3,000
