Global economy under pressure could slow to 2.3 percent: UNCTAD
UNCTAD report '"Trade and Development Foresights 2025 – Under pressure: Uncertainty reshapes global economic prospects” cited mounting threats including trade...
Economy
Trump admits trade war ‘cost’ as markets hit
Jitters about US tariffs hammered Asian stocks again early Friday as President Donald Trump acknowledged a "cost" to his surging...
Economy
Business
DEWA, UAE energy ministry discuss cooperation for clean energy goals
DUBAI, UAE - MD & CEO of the Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer discussed consolidating...
- DEWA’s current capacity has reached 490 Million Imperial Gallons per Day of desalinated water.
- DEWA is also working to increase the capacity of the transmission and distribution networks.
Science
UAE urges investment, action for water sustainability at UN meet
DUBAI, UAE – UAE Minister of Climate Change and Environment Mariam bint Mohammed Almheiri emphasized the importance of collaboration, data...
- The UAE is on track to reduce total water consumption of its food sector by over 15 percent despite doubling production by 2030.
- The UAE’s national plan - the Water Security Strategy 2036 - ensures that programs are implemented on the supply and demand side.
Economy
IMF chief: another ‘challenging year’ ahead, risks to financial stability up
Even with a better outlook for 2024, global growth will remain well below its historic average of 3.8 percent, she...
- Policymakers have acted decisively in response to financial stability risks, and advanced economy central banks have enhanced the provision of U.S. dollar liquidity, she said.
- IMF research shows that productivity-enhancing reforms in China could lift real GDP by as much as 2.5 percent by 2027, and by around 18 percent by 2037.
Economy
Morocco stun Brazil 2-1 in first ever win over five-time world champions
Tangiers, Morocco--Morocco stunned Brazil 2-1 in a friendly international on Saturday as the north African side recorded a first ever win...
- Sofiane Boufal, midfielder, gave Morocco the lead after 29 minutes, scoring with a powerful turn and drive from a pass by Bilal El Khannous
- Casemiro, Brazil skipper, levelled the score in the 67th minute when his weak shot was fumbled by goalkeeper Yassine Bounou
Economy
Kuwait’s never-ending political crisis hurts economy
It suffers from constant stand-offs between elected lawmakers and cabinets installed by the ruling Al-Sabah family, despite a parliamentary system...
- Kuwait, home to seven percent of the world's crude reserves, has little debt and one of the strongest sovereign wealth funds in the world
- The oil-rich country, posting large deficits during the Covid-19 pandemic, was buoyed by the rise in oil prices last year
Jordanian club holds workshops to train people in art of comedy
The new comedians hoping to put a smile on Jordanian faces range in age between 18 to 40 and include...
- The Amman Comedy Club has been training aspiring comics since 2019 and offering free, three- to four-month workshops in stand-up, improv, comedy sketches and satire writing
- Aided by foreign institutions such as the Konrad Adenauer Foundation and Chicago-based comedy club The Second City, the ACC has already trained more than 140 people in Jordan
Business
Turkey stops handling oil exports from Kurdistan region: Iraq
The Iraqi oil ministry said that Turkey stopped oil exports from Iraq's autonomous Kurdistan region on Saturday in the wake...
- Iraq had initiated the proceedings against the neighboring country in 2014, claiming exclusive rights over Kurdistan's oil exports
- The regional government in Arbil though, in defiance of Baghdad, continued to export oil through Turkey at a rate of around 450,000 barrels a day
Economy
Good vegetable crops boost Qatar’s food security
"To support productive Qatari farms in marketing their products directly and to ensure that consumers obtain their needs for fresh...
- Vegetable production in the Gulf country increased by 76 percent from 2017 to 2022, according to the Food Security Department Director Dr Masoud Jarallah Al Marri
- Qatar's Ministry of Municipality is preparing a strategic plan for ensuring food security in the agricultural sector until 2030 and implementing digital transformation projects.
Market Report
Saudi Arabia’s TASI ends the week higher while UAE markets fall
Several factors contributed to the fall in UAE markets, including a decline in oil prices, worries about multinational banks' health.
- The primary index of the Abu Dhabi Securities Exchange fell by 0.5 percent, while the Dubai market's main index dropped by 0.9 percent.
- In Dubai, losses in the industrial and financial services sectors led to a 0.5 percent drop in the main index on Monday.
Business
Qatar Islamic Bank owner again offers to buy Manchester United
Manchester United have received a second Qatari bid to buy the English football giants, British media reported. The reports said...
- Bidders were initially told they had until 2100 GMT on Wednesday to submit new offers, but reports say that has been extended.
- No figures have been revealed but one or more of the initial bids were understood to be in the region of US$5.5 billion
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Global economy under pressure could slow to 2.3 percent: UNCTAD
UNCTAD report '"Trade and Development Foresights 2025 – Under pressure: Uncertainty reshapes global economic prospects” cited mounting threats including trade...
Economy
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Saudi Arabia raises mineral resources estimates to $2.5 trillion
The Kingdom raised its mineral resources estimates from $1.3 trillion in 2016 on the exploration of nearly 30 percent of...
Business
WEF 2024 aims to bridge trust gaps amid global discord
Geneva, Switzerland - The World Economic Forum Annual Meeting 2024 is set to gather over 2,800 global leaders in Davos-Klosters,...
Economy
Arab region faces soaring youth unemployment crisis
The region, with the world's highest youth unemployment rate, requires the creation of 33.3 million jobs by 2030 to accommodate...
Economy
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Economy
Boost investment to avert ‘decade of wasted opportunity’: World Bank
Global growth is set to slow from an estimated 2.6 percent in 2023 to 2.4 percent this year, 0.75 percentage...
- Growth in advanced economies is expected to slow to just 1.2% this year, while emerging market and developing economies should see growth ease slightly to 3.9%.
- After seeing reasonable growth in 2023, the United States and China -- the world's two largest economies -- are both likely to slow in the year ahead, the World Bank said.
Business
Bitcoin surpasses $47,000, first time since March 30, 2022
Abu Dhabi, UAE - Bitcoin surged above $47,000 on January 9, marking its highest value since March 30, 2022, as...
- Bitcoin, originating in 2008 under the pseudonym Satoshi Nakamoto, operates as a decentralized digital currency
- The robust trading volumes in Bitcoin mining firms signal a heightened investor interest, underlining the increasing prominence of cryptocurrencies
Economy
Dubai leads MENA region in urban mobility readiness
The emirate ranked 28th globally in the 2023 Urban Mobility Readiness Index, highlighting its efforts in creating a sustainable, future-ready...
- The emirate ranked 28th globally in the 2023 Urban Mobility Readiness Index, a testament to its efforts in creating a sustainable, future-ready transportation ecosystem.
- Abu Dhabi climbs to 38th position, and Riyadh to 53rd in the Index, showcasing GCC's focus on sustainable urban mobility despite challenges faced by the region.