AI success in life sciences depends on people as much as technology: Bain
Organizations creating the most value from AI are not necessarily those deploying the most technology. Instead, they are redesigning workflows,...
Business
China’s foreign exchange reserves rise by $31bn to $3.44 trillion
Dubai, UAE -- China’s foreign exchange reserves rose to $3.4422 trillion at the end of May, their highest level in...
Economy
Economy
Energy costs push OECD inflation to highest level this year
Dubai, UAE -- Annual inflation across the Organisation for Economic Co-operation and Development (OECD) accelerated to 4.4% in April from...
- Energy inflation reached 13.2% across the OECD, with 31 member countries reporting higher energy costs during April.
- U.S. inflation rose to its highest level since May 2023, while Britain's core inflation fell to four-year lows.
Economy
Fragmenting world economy raises costs beyond geopolitical rivals
A report published by the World Economic Forum (WEF) and consulting firm Oliver Wyman found that fragmentation accelerated through 2025...
- Annual economic losses from fragmentation already total up to $307 billion as tariffs and investment restrictions proliferate globally.
- Emerging economies outside major geopolitical blocs could suffer output losses nearly twice the global average under escalation scenarios.
Business
ChatGPT surpasses 1 billion monthly active users in May
Dubai, UAE -- OpenAI's ChatGPT surpassed 1 billion monthly active users in May, becoming the fastest application to reach the...
- Sensor Tower estimates ChatGPT reached one billion monthly users roughly three years after launching in late 2022.
- Growing enterprise adoption and multimodal capabilities have helped fuel demand amid intensifying competition across artificial intelligence markets.
Economy
UAE GDP reaches $517 billion as economy grows 6.2 percent
Non-oil activities drove growth as construction, finance, real estate and transport sectors posted robust gains, underscoring diversification efforts and long-term...
- Trade remained the largest non-oil contributor, accounting for 16.9 percent of GDP, ahead of finance sectors.
- Officials highlighted investments in technology, innovation and digital economy initiatives as drivers of future readiness.
Economy
Closure of Strait of Hormuz may trigger lasting shift in Gulf trade corridors: report
About $650 billion in trade flows are affected, with global maritime routes facing growing disruption and uncertainty risks.
- GCC countries are redirecting cargo flows through alternative gateways, increasing transit costs and causing longer delivery times
- Saudi Arabia could leverage Red Sea access and East African investments to reduce dependence on vulnerable maritime choke points
The generational digital divide is fading among UAE investors, eToro finds
76% of younger investors and 75% of older investors have acted on a recommendation by an AI engine
- Younger investors favour future-facing sectors and mature investors are more likely to support industries that are well established in the UAE
- Both groups share the same top three investing goals: to achieve financial independence, to supplement income, and to provide long-term security
Geostrategy
Next wave of global competitive advantage lies in tech combinations: WEF
Eight technology domains, including AI, robotics, engineering biology and advanced materials are no longer advancing in isolation.
- The United States alone could face a shortfall of between 10,100 and 19,900 surgeons by 2036.
- Organizations are urged to assess where bottlenecks sit in their value chains, determine which technology combinations could shift those constraints.
Economy
MENA faces shortfall of 111,737 construction Project Managers by 2035: PMI
The PMI report finds that MENA will require up to 330,794 construction project management professionals by 2035 under a high-growth...
- Even under a low-growth scenario, the region would still face a shortfall of more than 88,561 professionals.
- Retirement-driven attrition will widen the gap further, compounding pressure on an already strained talent market.
Business
Firms lag as AI-driven fraud surges: Study
The report, published by the Association of Certified Fraud Examiners and analytics firm SAS, highlights widening gaps between rapidly evolving...
- Among the fastest-growing threats is deepfake-enabled social engineering.
- The United Arab Emirates and Saudi Arabia have the potential to take a leading role in next-generation fraud prevention.
Opinion
Geopolitics, risk aversion and crypto: Why this time may be different
Bitcoin has already endured five consecutive months of declines since reaching an all-time high of $126,500 in October 2025. February...
- The Crypto Fear and Greed Index recently fell to record lows, highlighting just how fragile investor confidence had become even before geopolitical tensions intensified.
- Progress around the proposed CLARITY Act in the United States could mark a structural milestone for the industry.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
AI success in life sciences depends on people as much as technology: Bain
Organizations creating the most value from AI are not necessarily those deploying the most technology. Instead, they are redesigning workflows,...
Business
Company News
Latest News
IMF says Omicron could slow global growth
According to the economists, Omicron's threat to economy will likely be less severe than the previous waves.
Qatar takes key step to control own airspace
Qatar said on Tuesday that it has been given a preliminary green light by a UN body on a proposal...
G20 ministers set to green light global tax reform
Finance ministers from the G20 richest nations are expected to give the green light Saturday to a historic deal to...
Saudi Arabia to generate $150 billion in investments from its new transport policy
The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private...
Saudi Arabia to create 40,000 jobs for its nationals
Job creation is part of Saudi strategy to help residents obtain high-quality jobs The strategy seeks to push more Saudi...
ChatGPT surpasses 1 billion monthly active users in May
Dubai, UAE -- OpenAI's ChatGPT surpassed 1 billion monthly active users in May, becoming the fastest application to reach the...
Business
UAE GDP reaches $517 billion as economy grows 6.2 percent
Non-oil activities drove growth as construction, finance, real estate and transport sectors posted robust gains, underscoring diversification efforts and long-term...
Economy
Closure of Strait of Hormuz may trigger lasting shift in Gulf trade corridors: report
About $650 billion in trade flows are affected, with global maritime routes facing growing disruption and uncertainty risks.
Economy
Most Read
Geostrategy
Next wave of global competitive advantage lies in tech combinations: WEF
Eight technology domains, including AI, robotics, engineering biology and advanced materials are no longer advancing in isolation.
- The United States alone could face a shortfall of between 10,100 and 19,900 surgeons by 2036.
- Organizations are urged to assess where bottlenecks sit in their value chains, determine which technology combinations could shift those constraints.
Economy
MENA faces shortfall of 111,737 construction Project Managers by 2035: PMI
The PMI report finds that MENA will require up to 330,794 construction project management professionals by 2035 under a high-growth...
- Even under a low-growth scenario, the region would still face a shortfall of more than 88,561 professionals.
- Retirement-driven attrition will widen the gap further, compounding pressure on an already strained talent market.
Business
Firms lag as AI-driven fraud surges: Study
The report, published by the Association of Certified Fraud Examiners and analytics firm SAS, highlights widening gaps between rapidly evolving...
- Among the fastest-growing threats is deepfake-enabled social engineering.
- The United Arab Emirates and Saudi Arabia have the potential to take a leading role in next-generation fraud prevention.