World Economic Forum unveils framework highlighting transformative technology convergences across key industries
Agentic AI, spatial intelligence and robotic advancements in manipulation and adaptive control are enabling autonomous systems to make intelligent decisions...
Economy
ADNOC expands its STEM Education Programme to empower UAE students in AI
Abu Dhabi, UAE – ADNOC has expanded its Science, Technology, Engineering and Mathematics (STEM) education programme to empower UAE students...
Economy
UAE signs MoU with Microsoft, PwC to set up ‘centre for digital excellence’
Dubai, UAE-- The UAE has signed a memorandum of understanding (MoU) with Microsoft and PricewaterhouseCoopers (PwC) to set up the...
- The centre will look to shore up government's digital transformation, enabling government authorities to benefit from the best global practices and modern technologies
- The new entity will explore how advanced technologies affect government work and will also conduct research and development in digital transformation
Economy
Gross sovereign borrowing requirements will jump to $12.9 trn in 2023: OECD
Paris, France – Sovereign borrowing needs are expected to increase in 2023 against the backdrop of the financial and economic...
- Outstanding central government debt declined as a share of GDP, from a peak of 88 percent in 2020 to 83 percent in 2022
- The total stock of sovereign sustainable bonds now exceeds $325 billion, 75 percent of which are focused on climate and environmental projects
Business
Sharjah event discusses anti-money laundering practices
SHARJAH, UAE - Sharjah Economic Development Department (SEDD) organized multiple workshops for legal purposes and a number of investors and...
- In the workshops , the legislative frameworks for real beneficiary and combating money laundering were reviewed.
- The purpose of the event is to form an ideal investment climate which supports business continuity, said an official.
Business
Allen & Overy to merge with US peer
The merged firm will have a combined revenues of $3.4bn.
- The new group, called Allen Overy Shearman Sterling or A&O Shearman, was "truly a game-changing moment for both firms".
- The merged firm will have around 3,900 lawyers and about 800 partners across a total of 49 offices worldwide.
Geostrategy
Norwegian delegation in Abu Dhabi discusses legal issues with ADJD
ABU DHABI, UAE - The Abu Dhabi Judicial Department (ADJD) discussed legal and judicial issues with a delegation from Norway....
- The delegation was briefed about applicable regulations, the Judicial Department's initiatives to establish specialized courts for foreigners.
- It was also briefed about the pioneering experience with remote litigation at the stage of registration of claims, case preparation and hearing.
Sudan war leaves farmers of gum Arabic without business
Sudan is the world's largest producer of the raw gum which is a major source of foreign currency for the...
- A gum arabic producer in Sudan, Ahmed Mohammed Hussein, said the absence of buyers has led to a price collapse of around 60 percent
- Gum arabic exports from Sudan totalled 88,000 tonnes in 2021, earning $110 million, according to central bank figures, the latest official data available
Economy
DEWA, WeGO discuss cooperation to achieve sustainable development goals
Dubai, UAE--Dubai Electricity and Water Authority (DEWA) is looking to cooperate with World Smart Sustainable Cities Organization (WeGO) in urban...
- The two sides discussed cooperation in urban sustainability, smart technologies and innovative solutions to achieve sustainable development goals
- DEWA CEO underscored the company's plan to achieve the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050
Economy
Saudi Arabia to invest $3bn in three new solar projects
Riyadh, Saudi Arabia ‒ The Public Investment Fund (PIF) owned Water and Electricity Holding Company (Badeel) and ACWA Power are investing $3...
- The solar projects are part of the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy
- These projects intend to produce a combined capacity of 4.55GWac of renewable energy, powering approximately 750,000 households
Economy
Jordan, Iraq to boost trade through Karama border crossing
Amman, Jordan-- Jordan and Iraq have discussed ways to boost bilateral cooperation in order to develop trade through Karama border...
- The agreement to boost trade exchange came in a meeting between Jordanian and Iraqi ministers in Baghdad, in which other sensitive border issues were discussed too
- The Jordanian minister said the kingdom was constantly focusing on expanding joint cooperation in various fields, particularly in security and economic domains
Business
Mubadala continues to advance UAE’s knowledge economy: Sheikh Mansour
Abu Dhabi, UAE-- Mubadala will continue to advance the UAE's knowledge-based economy in a way that contributes to solutions for...
- Sheikh Mansour noted that the year 2022 marked twenty years since the Abu Dhabi government set up Mubadala to advance a national agenda focused on knowledge creation and innovation
- He said Mubadala's philosphy, agility and long-term investment approach have created a vast array of opportunities for Emiratis that did not exist two decades ago
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World Economic Forum unveils framework highlighting transformative technology convergences across key industries
Agentic AI, spatial intelligence and robotic advancements in manipulation and adaptive control are enabling autonomous systems to make intelligent decisions...
Economy
Company News
Latest News
IMF, World Bank say Gaza and Red Sea attacks risk to world economy
World Bank President Ajay Banga said that "what's going on Gaza, but also the challenges of Ukraine... and the Red...
Economy
Energy transition led Saudi Arabia to halt oil expansion, says official
RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to...
Business
GPSSA issues circular on pensions, gratuity in UAE
ABU DHABI, UAE – The Emirates General Pension and Social Security Authority (GPSSA) has issued a circular to government and...
Business
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Economy
Bahrain to host ‘smart cities summit 2024’ in March
Manama, Bahrain--Bahrain will hold the seventh edition of the "Bahrain Smart Cities Summit 2024" from March 5 to 6 under...
- The two-day long summit will highlight the best global practices in AI, smart housing, sustainable architecture, and food security
- It will feature an exhibition showing the latest solutions for smart buildings, sustainable energy systems, and artificial intelligence
In Middle East, ‘manufacturing’ is a new buzzword
From Saudi Arabia to the UAE and Qatar to Kuwait, governments across the region compete to jumpstart industrial sector but...
- The industrial sector will contribute up to $1trillion annually to the GDP of the region
- Many experts estimate the sector can generate up to 15 million jobs in the next decade
Economy
In Middle East, ‘manufacturing’ is a new buzzword
Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But...
- The industrial sector will contribute up to $1trillion annually to the GDP of the region
- Many experts estimate the sector can generate up to 15 million jobs in the next decade