China says balance between AI development, security ‘urgently requires consensus’
China's Premier Li Qiang warned Saturday that artificial intelligence development must be weighed against the security risks, saying global consensus...
Economy
Trump announces ‘massive’ Japan trade deal including 15% tariff
US President Donald Trump announced Tuesday a "massive" trade deal with Japan, cutting a threatened 25-percent tariff to 15 percent...
Economy
Business
US banks express caution on economy as Fed rate hikes boost earnings
Results of large US banks released underscored the boon from higher interest rates, as executives described the world's biggest economy...
- JPMorgan and Wells Fargo both reported huge increases in second-quarter profits.
- Citi experienced a drop, citing an anemic investment banking market for revenue drop.
Economy
UAE banking sector is resilient, says CBUAE in its report
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) on Friday issued its Financial Stability Report for 2022....
- The report discusses global, local macroeconomic conditions, domestic asset markets and provides a detailed assessment of the UAE banking system.
- The report also contains an analysis of other important developments across the UAE financial sector such as digitalization and sustainability.
Geostrategy
UN says over 165m people fell into poverty in 3 years of crisis
UNITED NATIONS - The COVID-19 pandemic, the cost-of-living crisis and the war in Ukraine have pushed 165 million people into...
- The COVID-19 pandemic, the cost-of-living crisis and the war in Ukraine have pushed 165 million people into poverty since 2020, the UN said.
- Because of these shocks, the United Nations has called for a pause in debt repayments for developing countries.
Economy
China’s trade in goods with Belt and Road countries up 9.8% in H1
Beijing, China - China's trade in goods with nations along the Belt and Road Initiative in the first half of...
- Trade in goods with countries along the Belt and Road accounted for 34.3 percent of China's total import and export value of $2,8 trillion
- The Belt and Road Initiative (BRI) is a global infrastructure development strategy adopted by the Chinese government in 2013
Economy
UAE and Mozambique sign MoU to improve ‘work cycle’ for workers
Dubai, UAE--The UAE and Mozambique have signed a memorandum of understanding (MoU) in the field of workforce to improve the...
- The UAE minister said the MoU establishes an institutional partnership between the two ministries to maximize mutual benefits
- He said the UAE government is keen to build partnerships around the world, which, he feels, builds trust in the country's labor market
Economy
Dubai Customs and Japan’s consulate discuss expansion of trade ties
Dubai, UAE-- Officials from Dubai Customs and Japan's consulate have discussed ways to boost trade cooperation between the two countries...
- The officials noted how collaboration with Dubai was enabling Japan's traders and investors to expand their businesses in Dubai
- The consulate officials conveyed their appreciation for Dubai Customs' role in combating drug smuggling across borders
Economy
Qatar hosts over 2m visitors in first half of 2023
Doha, Qatar - Qatar Tourism said on Thursday that the country received more than two million visitors during the first...
- Saudi Arabia remain the top source market for international visitors this year, contributing to nearly a quarter of all arrivals
- May and June registered the highest figure - 567 thousand - ever recorded for these two months in the last ten years
Economy
Abu Dhabi crown prince reviews progress of government projects in emirate
Abu Dhabi, UAE-- The Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council Sheikh Khaled bin...
- The crown prince stressed the need for investing in early education and how it is integral to building a "future-ready generation"
- In the meeting he noted the importance of achieving a fully integrated and sustainable roadmap, involving all stakeholders
Economy
UAE, French ministers review ties, economic cooperation
Abu Dhabi, UAE - The United Arab Emirates and France reviewed the prospects of growing bilateral trade exchanges and advancing...
- Two sides discussed investment exchanges in innovative startups, circular economy, tourism, technology, family businesses, renewable energy and agriculture
- The prospects of accelerating the existing partnership and economic cooperation between the two countries also featured high during the meeting
Geostrategy
Egypt, Ethiopia to finalize deal on Nile dam in four months
The two countries resolved to finalize a deal over Ethiopia's big dam on the Blue Nile in four months, a...
- The two leaders, according to a joint statement, "discussed ways of overcoming the current stalemate in negotiations"
- Egypt sees the dam as an existential threat as it depends on the Nile for 97 percent of its water requirements
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China says balance between AI development, security ‘urgently requires consensus’
China's Premier Li Qiang warned Saturday that artificial intelligence development must be weighed against the security risks, saying global consensus...
Economy
Company News
Latest News
Google’s new AI for corner kick tactics gets Liverpool approval
PARIS, FRANCE – Liverpool football analysts have given their seal of approval to a new artificial intelligence tool from Google that...
Science
UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...
Business
Oman issues Treasury Bills worth US$181m this week
MUSCAT, OMAN – The Central Bank of Oman (CBO) has announced that the total issuance of Treasury Bills amounted to...
Economy
Most Read
Geostrategy
China regulator to ban Evergrande chair from securities market for life
BEIJING, CHINA – Chinese regulators will ban the chairman of property giant Evergrande from the securities market for life on grounds...
- Unable to repay interest on its loans, China’s real estate firm Evergrande formally defaulted in 2021, sending shockwaves through the industry.
- The company has struggled to repay creditors for years, defaulting in 2021 and becoming subject to a winding-up order by a Hong Kong court earlier this year.
Geostrategy
Dubai approves rise in energy, water efficiency programs
DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st...
- The Council reviewed updates of the demand side management strategy for 2030 and 2050.
- This is part of the efforts to make Dubai a leading example in efficient energy and water demand management.
Business
Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...
- This service aims to enhance its strategic partnerships with major international shipping lines, support the maritime sector.
- This initiative represents a significant step in bolstering the role of King Abdulaziz Port in Dammam in enhancing the maritime transport sector.