Saudi Arabia partners with World Bank to launch global knowledge hub in RiyadhÂ
According to World Bank Group President Ajay Banga, “The new Knowledge Hub being created by the World Bank Group and...Business
Boeing CEO says company can’t afford another mistake: report
Boeing CEO Ortberg told workers a trade war with China would weigh heavily on Boeing. The meeting came about two...Business
Emirates Steel Arkan signs $2bn deal
The 5-year, iron-ore pellets supply deal was signed with BSC.Under this agreement, Bahrain Steel will supply high-grade iron ore oxide pellets annually to Emirates Steel Arkan.
Saeed Ghumran Al Remeithi, Group CEO at Emirates Steel Arkan, said the agreement will also cement ties within the GCC.
Aramco injects $4 billion into its global venture capital arm
Dhahran, Saudi Arabia -- Aramco has allocated an additional $4 billion to its global venture capital arm Aramco Ventures, more...This will take Aramco’s overall venture capital allocation to $7.5 billion, which also includes the $500 million venture capital fund Wa’ed Ventures,
Through Aramco Ventures, we aim to support pioneers with big ambitions, and ultimately help bring their ideas to life, said Aramco Executive Vice President of Technology.
UAE launches new ‘EcoMark’ green accreditation framework for MSMEs
Davos, UAE - The UAE has announced plans to develop the first-ever sustainability accreditation framework explicitly for micro, small and...The EcoMark certification, which is based on ISO standards and digitally enabled, will include a full suite of resources to help MSMEs attain EcoMark status
Launching the initiative, UAE minister Al Zeyoudi stressed that MSMEs have a pivotal role in driving the transition toward a lower carbon economy
Watch: Experts discuss how Arab world reshapes future
At the HUB Davos 2024 conference, UAE's Minister of Economy Abdulla Bin Touq Al Marri highlights the nation's commitment to...Amid the regional challenges, the Arab world showcases its resilience and forward-thinking at the World Economic Forum in Davos.
Sessions by TRENDS under 'The Arab Future' theme focus on the Middle East's economic future and the burgeoning Creator Economy.
Gold extends slide after Fed dampens March rate cut hope
Dubai, UAE - Gold prices extended losses on Wednesday as the US dollar strengthened after comments from a Federal Reserve...Spot gold was down 0.2% at $2,023.49 per ounce, as of 0415 GMT, after stooping 1.3% in the previous session - its biggest single-day decline since 4th December 2023
The US Dollar Index, which gauges the dollar's strength against a basket of major currencies from key US trading partners has surpassed the 103.30 level
Qatar Islamic Bank profit up
It posted a 7.5% jump in net profit to US$1.18bn last year.The bank's basic earnings per share for the year 2023 are QAR 1.73 compared to QAR 1.62 for 2022
Its board of directors proposed a dividend distribution to shareholders of QAR 0.725 per share
Mawani reports rise in container handling
The growth aligns with the aims of national logistics strategy.Saudi Arabia's overall ports recorded a 9.01% increase in annual container handling for 2023, reaching 11,380,302 TEU compared to 10,439,620 TEU in 2022
Transshipment containers also experienced an 8.96% increase in volume, with 3,237,490 TEU transshipped in 2023 compared to 2,971,233 TEU in 2022
Disinformation, misinformation hurt global businesses
"These risks are serious because they limit our ability to tackle the big global challenges we are facing. Changes in...Rebuilding trust and fostering global collaboration are essential to address the present challenges.
The role of AI and digital innovation in combating misinformation and boosting productivity.
Google to slash ‘few hundred’ jobs
The internet giant will cut jobs from its global ad team.The jobs will be cut by the company amid a push to use artificial intelligence for efficiency and creativity
The company made no mention of generative AI, which is disrupting many sectors including advertising.
WTO hopes to finalize fishing agreement
GENEVA, SWITZERLAND - The head of the World Trade Organization's fisheries talks voiced optimism  on Tuesday about striking an agreement on...The 164 WTO members kicked off a month of negotiations this week at the global trade body's headquarters in Geneva.
The draft text is intended to help members reach agreement on a so-called "clean text" for submission to ministers in Abu Dhabi.
