US, China to slash tariffs as Trump to speak to Xi
After the first meetings between Washington and Beijing since Trump ratcheted up his trade war, the world's two biggest economies...
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
Economy
Digital literacy to boost UAE’s tech, AI revolution
The goal is to create a prosperous digital economy, built upon a robust digital infrastructure and a regulatory and legislative...
- The goal is to create a prosperous digital economy, built upon a robust digital infrastructure and a regulatory and legislative framework, says UAE Minister of State for AI
- The UAE’s approach is multi-pronged, concentrating on skill development, nurturing digital competencies, encouraging innovation and cultivating entrepreneurship, he adds
Hyatt to develop tourist destinations in Saudi Arabia
Riyadh, Saudi Arabia - Saudi Arabia’s Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding with...
- The destinations may include beach and urban hotels, as well as mountain, desert and farm retreats
- They will be developed under Hyatt’s existing trademarks, such as Alila Resorts, Park Hyatt, Grand Hyatt etc
Geostrategy
UAE discusses global economic challenges in EBRD meeting
SAMARKAND, UZBEKISTAN - The UAE, represented by the Ministry of Finance (MoF), participated in the 2023 Annual Meeting of the...
- Representatives of member states, private sector, the Board of Directors and the bank's management attended the meeting.
- The UAE said focus should be on enhancing regional, global integration, to facilitate trade, investment and closer economic cooperation.
Business
IFZA, Zoho ink deal to enhance digital use in tax returns
DUBAI, UAE- IFZA Dubai signed an agreement with Zoho to provide the members of the IFZA Free Zone community with...
- Zoho One is a cloud-based platform that enables businesses to perform all their functions on a single interface, accessible from anywhere.
- It is a part of IFZA’s commitment to support its Free Zone community in their compliance to the upcoming implementation of the Corporate Tax.
Business
Masdar on way to become one of world’s largest renewable energy firms
ABU DHABI, UAE - Abu Dhabi Future Energy Company (Masdar) has announced that it has nearly doubled its clean energy...
- Masdar announced that it has nearly doubled its clean energy capacity and CO2 displacement in just two years.
- Masdar has invested, or has committed to invest, in projects globally with a combined value of more than US$30 billion.
Geostrategy
Conflict zones in Middle East are not getting climate funds, say aid groups
DUBAI, UAE - Conflict-plagued countries in the Middle East are among the most vulnerable to climate change but are almost entirely...
- The UN ranks Iraq, recovering from decades of conflict, as one of five countries most impacted by effects of climate change including drought.
- Syria and Yemen are also at heightened risk following years of war that has battered both the country's infrastructure.
Economy
UAE to showcase business opportunities at ‘Make it in the Emirates Forum’
Abu Dhabi, UAE -- The UAE has said that the second Make it in the Emirates Forum is an open...
- The second Make it in the Emirates Forum will showcase unique opportunities for entrepreneurship
- The forum will also present financing solutions designed to attract more industrial investments
Business
Aldar raises US$500mn
The 10-year sukuk was priced with a 4.875% coupon rate.
- The issuance was oversubscribed, drawing investors from the region and beyond who placed orders to the tune of $2.3 billion
- The proceeds from the sukuk will be utilized in accordance with Aldar’s Green Finance Framework, which governs investment in sustainable projects
Economy
Iran and Russia sign customs agreement to boost trade volume
Tehran, Iran-- Continuing with their program to deepen the relationship between the two countries, Iran and Russia have signed a...
- The Iranian minister said that a new roadmap for expanding cooperation between the two countries will be achieved with the signing of the agreement
- The head of the Russian delegation said that his country's goal was to develop the transit capacity and to boost cooperation in order to increase trade
Economy
IMF lauds Jordan for monetary policy ensuring macroeconomic stability
Amman, Jordan--The International Monetary Fund (IMF) has applauded Jordan for its tight monetary and financial policies that have ensured macroeconomic...
- The IMF said that the kingdom's program supported by the fund is "still on the right track" with targets bolstered by strong performance on structural benchmarks
- It observed that the economic recovery from the COVID-19 pandemic is ongoing in Jordan, expecting GDP growth to reach about 2.6 per cent in 2023
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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
US, China to slash tariffs as Trump to speak to Xi
After the first meetings between Washington and Beijing since Trump ratcheted up his trade war, the world's two biggest economies...
Economy
Company News
Latest News
‘Innovation is crucial for UAE’s energy efficiency’
"Through effective and constructive collaboration with various local and international partners, we have succeeded in establishing an integrated energy transition...
Saudi Crown Prince says will work for Gulf unity and prosperity of its people
Riyadh, Saudi Arabia — Saudi Crown Prince Mohammed bin Salman on Wednesday said he will make efforts to achieve the unity...
Economy
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Economy
44% of workers’ core skills will be disrupted by 2027: WEF
The world of work is changing fast. By 2027, businesses predict that almost half (44%) of workers’ core skills will...
- The global unemployment rate could rise from 5.1% to 5.2% in 2024, with an extra two million workers expected to be looking for jobs
- The impact of AI on jobs was not going to be "an employment apocalypse", but that reskilling, upskilling would be key to managing the transition
Economy
Tunisia parliament votes to let central bank finance budget
The parliament ratified by a huge majority of 92 votes out of 133 an amendment to an article that prohibited...
- The country's finance minister said the funds were "not intended to finance current expenses"
- The IMF agreed in principle, in October 2022, to a loan of around US$2 billion to Tunisia
Economy
WEF24: GCC poised for growth amid global challenges
The region is on a growth track due to modernization, education, and broad integration with global economies, Joshua Friedman of...
- The region is on a growth track due to modernization, education, and broad integration with global economies, Joshua Friedman of Canyon Partners tells TRENDS.
- Friedman highlights global economic complacency, stressing the importance of addressing sovereign debt and corporate borrowing, while noting a few bright spots.