Oil may rise to $100, gold to hit $3,000 by 2025, says Citi
ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...Business Economy Markets
GCC banks to benefit from 2022 growth momentum
Since the COVID-19 outbreak, GCC banks have experienced a growth of more than 10 percent annually, a positive sign that...GCC banks will also reap the benefits of reduced overhead thanks to fewer branches and a smaller workforce.
A few GCC banks have expanded into risky countries, especially Turkey and Egypt.
Dubai court authorizes jailed Brit’s fraud extradition, say lawyers
DUBAI, UAE - A Dubai court Thursday authorized the extradition of a British national wanted over an alleged 1.7 billion...Hedge fund trader Sanjay Shah was arrested in Dubai in June, but the emirate's Court of Appeal in September rejected an extradition request by Denmark.
Shah is accused of running a scheme for three years from 2012 in which foreign firms pretended to own shares in Danish companies and claimed tax refunds.
Dubai Chamber launches Cloud Computing Business Group
Dubai, UAE-- Dubai Chamber of Commerce has announced the launch of the Cloud Computing Business Group, which will focus on...The Chamber said the business group will address policy matters related to the industry, amongst others.
The UAE has consistently outperformed 15 other countries in the Middle East and North Africa region as the most cloud competitive economy.
TSMC begins making 3nm chips
TSMC operates the world's largest silicon wafer factories.TSMC is also Apple's primary chip supplier.
Its 3nm-process chips are expected to have more processing power while using less power, boosting battery performance.
ADJD discusses developments in Evidence Law in civil, commercial transactions
ABU DHABI, UAE - Participants in the second Justice Partners Forum organized by Abu Dhabi Judicial Department (ADJD) discussed the...The virtual forum highlighted the importance of partnering with lawyers.
The forum also reviewed a number of cases handled by the courts.
Fujairah Chamber board approves 2023 operational plan and budget
Fujairah, UAE-- The Board of Directors of the Fujairah Chamber of Commerce and Industry stressed the importance of encouraging private...2023 operational plan comprises several programmes and activities, including the development of the chamber's electronic system.
The Board stressed the importance of encouraging private sector companies and institutions in the emirate to improve their products.
Twitter outages hit thousands of users worldwide
DownDetector reported a spike in issues with Twitter starting around 7 pm Eastern time (midnight GMT), with users unable to...At the peak of the outage, DownDetector clocked more than 10,000 complaints in the United States, as the hashtag #TwitterDown trended on the platform
Web monitor NetBlocks said the outages were international and not related to country-level internet disruptions or filtering
GCC retail sales pin hope on high consumer spending
Luxury segment is set to hit US$ 11bn by 2023 as retailers in the GCC are reporting increased sales due...Luxury segment is set to hit US$ 11bn by 2023 as retailers in the GCC region are reporting increased sales due to rising inflation and consumer spending on basics, says a survey
In Saudi Arabia, the retail market is expected to grow by up to three times its current value by 2030, making it the second largest contributor to the country's non-oil GDP
DEWA’s new project cuts 44,000 tons of carbon emissions annually
The TESTIAC project was implemented to increase the electricity generation capacity of gas turbines during high ambient temperatures in summer...This project is the first of its kind internationally combining Thermal Energy Storage with Inlet Air Chilling in Frame 9F Gas Turbines.
This reduces the consumption of natural gas in the electricity production process, which limits greenhouse gas emissions.
DMZ, Sheraa sign deal to support 15 startups from Sharjah
Sheraa’s startup community will now have access to the DMZ’s on-demand learning platform called ‘Launchpad’.Sheraa’s startup community will now have access to the DMZ’s on-demand learning platform called ‘Launchpad’.
The platform is designed to support aspiring and early-stage entrepreneurs in developing foundational business skills.
