GCC tourism growth skyrockets as diversification drive gains momentum post-Covid
GCC countries collaborate on comprehensive tourism strategy, leading global recovery post-pandemic with remarkable growth rates and ambitious plans for sustainable...
Economy
Economic growth in Asia forecast to slow to 4.5 percent, says World Bank
Bangkok, Thailand--Asian economies are not doing as well as they could and growth in the region is forecast to slow...
Economy
Economy
UAE issues transitional rules for Corporate Tax
The goal is to simplify establishing the initial balance sheet, guaranteeing a fair method for managing assets and liabilities preceding...
- The aim is to ease the process of determining the opening balance sheet, ensuring a fair and transparent approach for assets and liabilities
- The decision applies to certain assets and liabilities, such as immovable property, intangible assets, financial assets, and financial liabilities
Business
Saudi Arabia, UK ink pact to develop critical minerals supply chains
Riyadh, Saudi Arabia -- Saudi Arabia and the United Kingdom on Thursday signed an agreement to jointly develop critical minerals...
- The agreement marks a significant step in the global endeavor to increase the supply of critical minerals
- Critical minerals are vital in producing various technologies, including electric vehicles, wind turbines, and solar panels
Economy
Women’s role crucial to future tech development
“As we sit at the crossroads of the very future of humanity as it relates to technology, female influence, and...
- Sheikha Bodour Al Qasimi, President of AUS and SRTI Park, highlights the underrepresentation of women in the tech sector and urges for a rapid change
- She argues that providing women with leadership opportunities and including their perspectives in decision-making could lead to a better technology roadmap
Economy
Crypto experts leave US over obstructive regulations
DOHA, QATAR- Thousands of cryptocurrency industry developers have left the United States because of its negative stance towards the sector,...
- Regulators in the US have taken a tough line because of fears of money laundering and scams such as the FTX collapse.
- Other countries had been "very constructive" over regulation and attracted "a huge amount of talent," said Smith, CEO of blockchain.com
Business
Brazilian group seeks trade, investment boost with UAE
Sharjah, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) organized the UAE-Sao Paulo Business Forum on Thursday, marking...
- During the forum, the two sides discussed joint efforts and investment opportunities available in both cities.
- The delegation comprised representatives from companies operating in agriculture, food, cosmetics, and furnishings sectors.
Economy
‘Partnerships with technology leaders help in Dubai’s digital transformation’
DUBAI, UAE - First Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance of the UAE Sheikh...
- Successful partnerships with leading industry players are a key enabler of Dubai’s digital transformation journey.
- The initiative seeks to advance Dubai’s strategic objective of becoming one of the world’s top urban economies.
Economy
US first quarter growth slightly higher than expected
Washington, United States - US economic output increased by more than previously thought in the first quarter of this year, the...
- The US economy has cooled this year as the impact of multiple rounds of interest-rate hikes to tackle inflation begins to be felt.
- GDP growth in the first quarter was revised up slightly to 1.3 percent, the Commerce Department announced in a statement.
Economy
‘UAE-India economic ties benefit 3.8 billion people’
Both countries are focusing on sectors such as technology, digital payments, innovation, green energy, healthcare, and more to develop their...
- Both countries are focusing on sectors such as technology, digital payments, innovation, green energy, healthcare, and more to develop their economies, says UAE’s minister
- Abdullah bin Touq Al Marri stresses on the importance of the CEPA signed between the two countries, emphasizing its role in enhancing trade and creating opportunities
Economy
GCC secretary general exhorts boosting trade relations with UK
Riyadh, Saudi Arabia--The GCC has called for the strengthening of trade and investment relations with the United Kingdom amid the...
- The GCC secretary general made the remarks during a meeting with Kemi Badenoch, UK business secretary in Riyadh
- Albudaiwi and Badenoch reviewed joint preparations for holding the fourth round of negotiations to be held in London, in July
Economy
Investment in solar power to overtake oil first time this year: IEA
The International Energy Agency (IEA) said that while the increasing investment in solar power is a welcome development. but investment...
- Annual investment in clean energy is expected to have risen by 24 percent from 2021 to more than $1.7 trillion in 2023, according to the International Energy Agency
- The IEA expects investment in solar power, essentially photovoltaic panels, to hit $380 billion this year while investment in oil exploration and extraction to hit $370 billion
GCC tourism growth skyrockets as diversification drive gains momentum post-Covid
GCC countries collaborate on comprehensive tourism strategy, leading global recovery post-pandemic with remarkable growth rates and ambitious plans for sustainable...
Economy
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ADNOC Drilling, Alpha Dhabi set up JV
Geostrategy
EU agrees on 150-million financial aid for Tunisia
A joint statement said the funds amounting to around $164.3 million "aims to support the efforts undertaken by the Tunisian...
UNCTAD eWeek focuses on AI risks, e-commerce growth in developing countries
At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and...
Qatar expects 11.4% revenue dip in 2024 budget on lower oil prices
Finance Minister Ali bin Ahmed Al Kuwari attributed the decrease in revenues to the adoption of an average oil price...
Economy
Most Read
Saudi Arabia introduces unified platform for visas, including Hajj, Umrah
Riyadh, Saudi Arabia - Saudi Arabia on Tuesday introduced 'KSA VISA,' a unified visa platform aimed at streamlining visa application...
- The platform aims to automate visa issuance procedures, thereby enhancing the overall visitor experience
- The initiative is a step in the kingdom's strategy to bolster tourism in the forthcoming years
Geostrategy
US pushes naval coalition as Yemen rebels vow to attack more ships
The United States pushed to build up a multinational naval task force to protect a key global shipping lane from...
- US Defense Secretary Lloyd Austin condemned the "unprecedented" spate of attacks in waters leading to the Suez Canal.
- The Canal is a chokepoint for about 10 percent of global trade, that have forced many shipping companies to divert their vessels.
Geostrategy
15% increase in air traffic at UAE airports during COP28, says GCAA
ABU DHABI, UAE – Airports in the country witnessed a 15 percent increase in air traffic during the 28th Conference...
- The first day of COP28 - November 30 2023 - witnessed the highest daily air traffic rate in the history of civil aviation in the UAE with 2,848 flights.
- The General Civil Aviation Authority organized meets and daily communication sessions to discuss plans, improve air navigation management systems.