Gold tops $4,000 for first time on political, economic worries
New York, United States - Gold topped $4,000 an ounce for the first time Wednesday as investors flocked to the...
Economy
Vietnam defies US tariffs with 8.2% growth in third quarter
Hanoi, Vietnam -- Vietnam recorded economic growth of 8.2 percent in the third quarter, among the highest increases in more...
Economy
World Economic Forum
Readying for jobs of tomorrow: WEF’s Till Leopold stresses upskilling
Davos, Switzerland -- In the next five years, millions of jobs will be created. Governments, employers, and education institutions, therefore,...
- The key report findings highlighted that there will be 78 million new job opportunities by 2030 but urgent upskilling is needed to prepare workforces.
- The fastest-growing skills by 2030 will include technological skills alongside human skills, such as cognitive skills and collaboration.
FED keeps interest rates unchanged
The Federal Reserve kept interest rates at the current target range of 4.25 percent to 4.50 percent after its January meeting, according...
- Inflation is still deemed ‘somewhat elevated’
- The euro fell to 1.04 against the US dollar following announcement
World Economic Forum
Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer...
- Lithium-sulfur batteries are about half the weight of a lithium-ion batteries, but they have twice the energy density.
- These batteries work better in heat and, therefore, will be better suited to tropical countries that are expected to grow at a much faster pace.
Economy
‘Middle East is a promising area with a lot of initiatives going on in the UAE, Saudi Arabia’
Beyond AI, new technologies will leverage artificial intelligence to drive the next phase of the Fourth Industrial Revolution, Alphaeus Hanson,...
- The Middle East is emerging as a key investment hub, with the UAE, Saudi Arabia, and Qatar leading ambitious initiatives, Hanson tells TRENDS in an exclusive interview
- Beyond AI, new technologies will leverage artificial intelligence to drive the next phase of the Fourth Industrial Revolution, he adds
Economy
NHC signs strategic deals worth $8 billion at the opening of Real Estate Future Forum 2025
Riyadh, Saudi Arabia - The National Housing Company (NHC) has signed a series of agreements, deals, and memoranda of understanding...
- The agreements included a memorandum of understanding with the Saudi Ministry of Industry and Mineral Resources to enhance collaboration in supply chains
- In another key agreement, a memorandum of understanding was signed with King Abdulaziz City for Science and Technology (KACST)
Economy
Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts
The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...
- The initiative’s 33 members from 16 countries represent combined potential greenhouse gas emissions reductions comparable to the annual emissions of Saudi Arabia
- A new report highlights the critical role that industrial clusters play in accelerating the deployment of clean-energy infrastructure at scale worldwide
Economy
Exclusive: ADP’s Nela Richardson on how AI is reshaping the global workforce
Davos Switzerland - The rapid adoption of AI and automation is redefining labor markets, reshaping industries, and transforming skills globally,...
- Drawing from insights in the Future of Jobs Report 2025, Dr. Richardson emphasized the dual forces of opportunity and risk that AI introduces to labor markets
- Reflecting on the findings of the report, Dr. Richardson highlighted the critical gaps that need to be addressed, including the skills gap and the employers-employee disconnect
World Economic Forum
Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria
Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...
- The upcoming centers in Muscat, Pretoria, and Riyadh will tackle critical global challenges with innovative solutions tailored to national and regional needs.
- Additionally, the WEF announced that the C4IR United Arab Emirates has been renewed.
Economy
WEF25: Saudi delegation calls for nations to put “greater good” first
The international community must prioritize cooperation and dialogue to overcome the challenges of a fragmented world, the Saudi delegation to...
- Saudi Arabia urges global cooperation and prioritizes private sector-led economic diversification
- Key initiatives focus on AI, sustainability, and transforming industries for future growth
Billionaires on the rise globally- Oxfam Davos report
In its latest annual inequality report, “Takers Not Makers”, Oxfam explores how most billionaire wealth is taken, not earned. At least five...
- At least five trillionaires are now expected within a decade
- In 2024, the number of billionaires rose to 2,769, up from 2,565 in 2023
Gold tops $4,000 for first time on political, economic worries
New York, United States - Gold topped $4,000 an ounce for the first time Wednesday as investors flocked to the...
Economy
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Average US tariffs now highest since 1910s: WTO and IMF
The figure, calculated by the two organizations, stands in contrast with the 2.4 percent rate in force at the time...
Economy
Trump announces 100% chip tariff, pressuring Asian producers
The US president unveiled the levy at the White House on Wednesday ahead of the imposition of sweeping tariffs on...
Economy
Syria inks infrastructure and real-estate deals worth $14 billion
Since the overthrow of longtime ruler Bashar al-Assad in December, Syria's new authorities have worked to attract investment for the...
Economy
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Business
Jordan sees decrease in number of tourists over Gaza war
Amman, Jordan -- Jordan has seen a decrease in the number of tourists visiting its famed ancient city of Petra...
- According to figures from the Petra tourism authority carried by official media, 32 hotels have had to shut down and nearly 700 people have lost their jobs.
- Petra, famous for its stunning temples hewn from rose-pink cliff faces, is a UN World Heritage site.
Economy
AI search pushing an already weakened media ecosystem to the brink
New York, United States - Generative artificial intelligence assistants like ChatGPT are cutting into traditional online search traffic, depriving news...
- A recent Pew Research Center study reveals that AI-generated summaries now appearing regularly in Google searches discourage users from clicking through to source articles
- This represents a devastating loss of visitors for online media sites that depend on traffic for both advertising revenue and subscription conversions
Economy
Qatar to expand scheme to boost Syria power supply
Qatar is to expand its scheme to boost the power supply in Syria by paying for deliveries of Azerbaijani gas...
- The deliveries, aimed at alleviating chronic power outages in Syria, will increase the Qatari scheme's generating capacity to 800 megawatts per day
- A first phase of the Qatari scheme to fund gas supplies for power generation rolled out in March via Jordan and provided 400 megawatts of electricity per day