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
Iran-EU trade posts 9.2% drop to US$847mn in first two months of 2023
Tehran, Iran--Iran and the European Union traded $847 million worth of goods during the first two months of 2023, registering...
- Eurostat data shows Germany was the top trading partner of Iran in the EU region during the period, as the two countries exchanged $279 million worth of goods
- The Islamic Republic exports to the EU jumped to $1.08 billion in 2022 as against $904 million in the same period of last year
AI key to global opportunities, practical solutions
"Projections indicate that AI solutions are set to contribute an estimated $13 trillion to the global GDP by 2030, optimizing...
- Key research projects at MBZUAI focus on sustainable environment, infrastructure, healthcare, education, and large language models, says an official
- AI has the potential to contribute to the UAE's net-zero strategic initiative by reducing greenhouse gas emissions and advancing climate progress
Geostrategy
Jordan’s exports to EU nations in January,  February 2023 rose to US$87m
AMMAN, JORDAN - Value of Jordanian exports to European Union countries increased during January-February period of 2023, by 108.5 percent...
- Jordan's imports from the EU nations in January, February 2023 rose to reach US$671 million.
- Trade exchange between Jordan and EU countries in January, February 2023 amounted to about US$758 million.
Economy
Jordan-US trade soars to US$745mn in first two months of 2023
Amman, Jordan--The volume of trade exchange between Jordan and the US shot up in January and February 2023 to $745...
- The Department of Statistics said in a statement that the vaule of exports from Jordan to the US shot up to $392 million in the first two months of 2023, a 28.2 percent jump
- Imports from the US to Jordan also increased during the first two months of the year to $353 million, a 38.2 percent jump, as against $255 million for the same period of last year
Economy
IEA’s call to halt oil investments will hurt market
His remarks came after the IEA Executive Director, Fatih Birol, criticized OPEC+ for their unexpected decision to reduce oil output...
- OPEC Secretary General Haitham Al Ghais has cautioned IEA against discouraging oil investments crucial for global economic growth
- Russia's Deputy PM Alexander Novak says the OPEC+ group, comprising leading oil producers, sees no need for further output cuts
Geostrategy
European probe officials to question Lebanon central bank audit firms
European investigators probing Lebanese central bank chief Riad Salameh's wealth will question officials from two international firms previously tasked with...
- Visiting European investigators plan to question officials from the Lebanon offices of Deloitte, Ernst and Young, and a local firm.
- The European investigators arrived in Beirut this week on their third trip to Lebanon in connection with the probe.
Business
US Fed accepts supervision failed in Silicon Valley Bank
The US Federal Reserve called for greater banking oversight while admitting to its own failures in a report published into...
- Silicon Valley Bank's management failed to adequately manage risk prior to the bank's swift collapse.
- Federal Reserve supervisors failed to take forceful action after they had identified issues at the bank.
Geostrategy
Uzbekistan, IsDB ink pacts worth US$396.7m for infrastructure, education
JEDDAH, SAUDI ARABIAÂ - Islamic Development Bank (IsDB) President and Group Chairman Dr. Muhammad Al-Jasser and Uzbekistan Minister of Investments,...
- Under the agreement, IsDB will provide US$260 million in financing for the Integrated Rural Development Project.
- The project will empower local communities, improve their access to quality and resilient infrastructure.
Business
KEZAD, Al Ghurair Foods ink pact
Pact involves investment of over US$272 million.
- The agreement will mark the first phase of Al Ghurair Foods division’s investments in KEZAD.
- The highest standards of food safety in line with International biosecurity standards will be followed.
Business
Swiss central bank says tough rules needed for sector
BERN, SWITZERLAND - Switzerland's central bank said Friday that the country's banking regulations needed toughening up after the implosion of Credit...
- Credit Suisse's share price plunged on March 15, causing the central bank to step in with a $54-billion lifeline for the second-biggest bank in Switzerland.
- The Swiss government, Swiss National Bank and the financial market regulator strongarmed UBS into a $3.25-billion takeover on March 19.
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
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Egypt grapples with dollar crunch as debt explodes
With inflation up at 35 percent, and amid a severe foreign currency crunch, the Egyptian pound is plunging and the...
Economy
UAE economy to grow 5.7% in 2024 in spite of global challenges
Abu Dhabi, UAE-- The UAE economy is projected to grow by 5.7% in 2024 despite prevailing global economic challenges, including...
Business
WEF24: Geopolitical upheaval to affect global economy
Geopolitical tensions, including the Russia-Ukraine conflict, Middle East unrest, and China-Taiwan ties are key economic disruptors, says Bill Browder of...
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Business
Qatar awards $6bn in contracts for Al-Shaheen oilfield expansion
The four engineering, installation and procurement contracts will increase production at the Al-Shaheen oilfield -- the country's largest -- by...
- Al-Shaheen currently produces 300,000 barrels per day and is operated through the North Oil Company, a joint venture between QatarEnergy and France's TotalEnergies.
- QatarEnergy said the third phase of expansion at Al-Shaheen, which began production in 1994, will be implemented over five years.
Economy
Dubai is a key player in global business landscape
"The emirate is continuing to consolidate its position as an ideal platform that brings together creative ideas and innovative entrepreneurs...
- Dubai Chambers and Enterprise Ireland sign a strategic MoU to link Dubai and Irish firms, emphasizing collaboration in technology, manufacturing, and clean energy.
- The MoU will boost mutual trade and investment, fostering digital economy growth, and offer small businesses opportunities and cross-cultural training through alliance.
Business
UAE and UK seek to boost economic cooperation
Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri,...
- The discussions to boost trade ties took place during a UAE delegation's visit to the UK to participate in Investopia London, to be held on January 31, 2024
- The UAE minister said the relations between the two countries serve as a prime example for advanced strategic ties and exceptional economic partnership