Web Summit Qatar 2026: Doha’s Bid to Become the Next Tech Hub
Early signals hint that Web Summit Qatar 2026 will be its biggest edition yet, with participation expected to outpace the...
Economy
US launches pact for AI supply chains with key Asia-Pacific allies to face China
The United States signed an agreement on the supply chains with key Asia-Pacific allies concerned about China's growing clout --...
Economy
Risks are interconnected, need collaborative solutions, says WEF’s Mark Elsner
World Economic Forum
Economy
Nationalization efforts transform Saudi workforce
Saudi Arabia's ambitious nationalization initiative has significantly impacted its labor market, with the Kingdom experiencing a historic low unemployment rate...
- Saudi Arabia's ambitious nationalization initiative has significantly impacted its labor market, with the Kingdom experiencing a historic low unemployment rate of 8.6%.
- The Kingdom's success on employment front is attributed to Vision 2030's strategic economic diversification and an increased focus on local workforce development.
Economy
GCC eyes economic upswing, business growth in 2024
Despite last year's challenges, the region is set to see robust growth this year, led by the UAE, which is...
- Despite last year's challenges, the region is set to see robust growth this year, led by the UAE, which is expected to top the economic performance with a 4% GDP growth.
- The Gulf region's growth is likely to be underpinned by technological advancements and a resilient banking sector, ready to navigate through global economic shifts.
Business
UAE announces reduction in fuel prices for January
ABU DHABI, UAE - The prices of petrol and diesel are set to decrease in the country in January following...
- This change reflects a continuous trend observed in the fuel prices over the past few months.
- September and October witnessing increases and November and December seeing reductions.
YEARBOOK 2023
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
- UAE launched ALTÉRRA, the world’s largest private investment climate action vehicle, aimed at raising and mobilizing an additional $250bn for climate action.
- Despite global headwinds, CBUAE projects 3.3 percent year-on-year growth projected for the UAE economy in 2024.
Business
45 percent of Saudi employees work over 40 hours per week
Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...
- Figures also show that 46.6 percent of employees have received training on health and safety procedures, and 48.7 percent have health and safety departments in their workplace.
- Data also shows that 7.8 percent of employees deal directly or indirectly with chemicals, medical waste, radioactive materials or toxic gases.
Business
Bank takes over Amiantit subsidiary
The bank will absolve Amiantit of all its financial obligations.
- The debt being cleared constitutes approximately 50 percent of the total liabilities that Amiantit owes to various banks.
- Preliminary estimates suggest the company will recognize profits worth US$128 million as a result of this settlement.
Geostrategy
5 WEF reports shaping your 2024 agenda
From AI to the future of jobs and slow climb to gender parity, WEF reports provide insights into some of...
- Buffeted by a global energy crisis, inflationary pressures and geopolitical instability, the move to clean energy has faced a challenging time.
- This year's top 10 emerging technologies will likely become increasingly familiar in the years ahead as they help tackle some of our biggest challenges.
Economy
China factory activity decline deepens in December
The National Bureau of Statistics (NBS) said, "In December... the level of vitality in the manufacturing sector somewhat declined." In...
- The official manufacturing purchasing managers' index (PMI) stood at 49.0 in December
- It signaled a further slump from November's figure, representing the third month of contraction
Economy
UAE looks to support farmers to boost sustainability of food sector
Dubai, UAE--The UAE leadership places utmost importance on supporting farmers to enhance the sustainability of the agricultural and food sector,...
- The farmers' council looked to identify the needs of the farmers to increase domestic productivity and thereby optimise imports
- The minister said that one of the key goals of the UAE is to make agricultural systems more sustainable and climate-smart
Business
UAE insurance sector assets rise US$3.1bn in 9M 2023
ABU DHABI, UAE - The UAE insurance sector continues to exhibit robust growth, as evidenced by a 9.6 percent increase...
- Central Bank of the UAE data shows that assets rose 3.05 percent from US$1 billion to US$ 34.7 billion between Q2 and Q3 of 2023.
- The UAE's leadership position within the Arab insurance landscape is further solidified by its consistent ranking among the top global performers.
Web Summit Qatar 2026: Doha’s Bid to Become the Next Tech Hub
Early signals hint that Web Summit Qatar 2026 will be its biggest edition yet, with participation expected to outpace the...
Economy
Company News
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UNFPA and corporate partners drive reproductive justice in workplaces
World Economic Forum
Risks are interconnected, need collaborative solutions, says WEF’s Mark Elsner
World Economic Forum
Washington hails ‘substantive progress’ after trade talks with China
Washington expressed optimism at the end of a weekend of trade talks with China aimed to de-escalate trade tensions sparked...
Economy
Trump hails ‘total reset’ in US-China trade relations as talks continue
Geneva, Switzerland - US President Donald Trump hailed a "total reset" in US-China trade relations, ahead of a second day...
Economy
US and China meet in ‘important step’ towards de-escalating trade war
Geneva, Switzerland - Senior US and Chinese officials were meeting in Geneva Saturday in what Chinese state media described as...
Economy
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Economy
Damascus, Ankara agree natural gas deal for Syria
Damascus, Syria - Syrian Energy Minister Mohammad al-Bashir said Friday Damascus and Ankara had reached a deal for Turkey to...
- Syria's Islamist authorities, who toppled Bashar al-Assad in December, are seeking to rebuild the country's infrastructure
- The conflict badly damaged Syria's power infrastructure, leading to cuts that can last for more than 20 hours a day
Economy
‘Bombshell’ OPEC+ output hike hits oil price
Oil prices slumped on Monday after eight OPEC+ members announced a sharp increase in production, while Asian stocks treaded water...
- The output increase of 411,000 barrels a day announced by Saudi Arabia, Russia and six other members of the oil cartel on Saturday added to concerns about over-supply
- The price of crude has already been sliding because of fears of a global economic slowdown on the back of US President Donald Trump's tariff onslaught
Geostrategy
Global rice output in 2024/25 likely to expand by 1.5%: FAO
Rome, Italy --Â The Food and Agriculture Organization of the United Nations (FAO) released a new Cereal Supply and Demand...
- FAO’s latest forecast for 2025 wheat production is pegged at 795 million tons, on par with the previous year.
- FAO’s new forecast for world cereal utilization in 2024/25 stands at 2 870 million tons, a 1.0 percent increase over the 2023/24 level.