Energy transition led Saudi Arabia to halt oil expansion, says official
RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to...Business Economy Geostrategy Global
WEF24: AI-generated drugs promise cost reduction
AI is playing a critical role across the biomedical spectrum, from accelerating drug discovery to improving care delivery systems, says...Business Health
Gazprom to cut Italian energy giant Eni’s gas supply by 15 percent
Russia's Gazprom told Eni it would cut its gas supply by around 15 percent for Wednesday, the Italian energy giant...Italy buys the majority of its natural gas from overseas -- and more than 40 percent of its imports come from Russia.
Since Russia invaded Ukraine, triggering unprecedented Western sanctions against Moscow, Italy has been scrabbling to cut that reliance.
China’s recovery to take oil demand to pre-Covid levels by 2023: IEA
Demand is set to grow to 101.6 million barrels per day in 2023, according to the IEA, which advises developed...Soaring oil prices and weaker economic growth is likely to temper the growth of demand in the second half of this year.
The IEA expects global oil demand to grow to 99.4 million barrels per day in 2022 -- higher than its previous estimates.
Qatar Chamber and Jordan to enhance private sector cooperation
Qatar Chamber and the Jordanian Ministry of Labor discussed Tuesday ways to enhance bilateral relations and the private sector's role...Qatar Chamber First Vice-Chairman Mohamed bin Twar Al Kuwari met with Jordanian Minister Nayef Stetieh.
Jordanian Minister of Labor Nayef Stetieh pointed to the Qatari initiative to employ 20,000 Jordanians in Qatar.
1970s-style inflation, shrinking economy: Rebalance your investments
The painful combination of chronic 1970s-style inflation and a shrinking economy means that you might need to rebalance your investments,...Inflation in Latin America's largest economies is the highest it's been in 15 years, while the overall rate in Sub-Saharan Africa is expected to grow to 12.2 percent this year.
What remains unknown is how long this difficult period of high inflation will go on for and what will be its lasting ‘legacy, said deVereGroup CEO Nigel Green.
OIC aims for 25 percent trade among member states by 2025
OIC has set a target of 25 percent trade among member states in the next three years by 2025 and...Organization of Islamic Cooperation has set a target of 25 percent trade among member states by 2025
Biennial general trade fair is vital for promotion of trade and services among OIC member states
Dubai ruler issues decree establishing toll operator Salik as company
Dubai road toll operator Salik has been established as a Public Joint Stock Company according to a law issued by...According to a law issued by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum the Dubai Government owns all the shares of Salik Company.
The Executive Council of Dubai is authorized to determine the percentage of shares that can be offered for subscription either through an IPO or private placement.
Half of finance firms in UK, US prefer internal data collection
Half of all financial services organizations in the US and UK prefer managing web scraping practices internally, compared to just...50 percent of financial services organisations manage web scraping internally
38 percent, combine internal practices and outsourcing to third parties.
Bear market triggered by panic-selling presents investment opportunities
Fortunes will be made in this current bear market as in-the-know investors use the 20 percent drop as a major...A bear market is the term used to describe the plummeting of financial markets by 20 percent or more from their most recent all-time high.
“Your future self will thank you. The average bear market lasts less than a year and they typically rebound stronger than before," Nigel Green, CEO and founder of deVere Group,
UAE Industry Development Council reviews action plan
Industry Development Council meeting reviews recommendations made at the first meeting, progress in implementing them and discusses the development of...Industry Development Council recommends launching unified platform for industrial data
The council reviews suggestions made at first meeting, reflects on progress in implementing them
UAE-Germany non-oil trade surpasses $130 billion in 10 years
The UAE-Germany non-oil trade exchange exceeded AED 478 billion ($130 billion) from 2012- 2021, according to data from the Federal...The imports accounted for 89.5 percent of the total trade exchanges, while exports 3.5 percent and re-exports accounted for seven percent.
The trade exchanges grew by 12 percent by the end of last year to AED35.3 billion against AED31.5 billion by the end of 2020.
