Morocco ‘water highway’ averts crisis in big cities but doubts over sustainability
Morocco is spending hundreds of millions of dollars on tapping northern rivers to supply water to parched cities farther south...
Economy
Stock markets rise on fresh hopes for Trump’s tariff approach
Investor sentiment has been jolted in recent weeks by fears that the president's hardball policies could deal a painful blow...
Business
Economy
UAE consumer spending vaults 19% in 2022: Majid Al Futtaim
Dubai, UAE-- Consumer spending in the UAE has shot up 19 percent in 2022 as against the previous year, according...
- The country recorded its strongest annual GDP growth since 2006, jumping to 7.9 percent, from 3.9 percent in 2021
- Non-oil economy posted strong growth at 6.6 percent, lifted by government initiatives to lure investments and boost its tourism sector
Economy
Sustainable industries key driver of RAK economy
“Ras Al Khaimah has adopted a clear long-term strategy based on establishing a balanced multi-resource economy,” he adds during a...
- Ras Al Khaimah's economic flexibility has enabled it to adopt sustainable plans that will enhance its competitiveness, says its ruler Sheikh Saud bin Saqr Al Qasimi
- He emphasizes the importance of promoting the culture of sustainability in all sectors, calls sustainable industrial sector a crucial driver of the national economy
Economy
Road to GCC smart cities viable, but not hurdle-free
Integrating smart roads and sustainable construction in GCC smart cities requires technical proficiency like data analytics, sensor technologies and software...
- Integrating smart roads and sustainable construction in GCC smart cities requires technical proficiency like data analytics, sensor technologies and software skills, says an expert
- Smart roads offer numerous benefits, including reducing carbon emissions, improving road safety, creating new jobs, promoting more efficient mobility, and reducing congestion
Business
Abu Dhabi-Japan Economic Council reviews growth in bilateral trade and investments
TOKYO, JAPAN - The ninth session of the Abu Dhabi-Japan Economic Council (ADJEC) here has reaffirmed its commitment to further...
- In 2022, the bilateral trade between the UAE and Japan rose 57.5 percent to exceed US$54 billion.
- UAE exports to Japan grew 69.7 percent to US$45.9 billion compared to US$27 billion in 2021.
Geostrategy
UAE, Georgia sign Comprehensive Economic Partnership Agreement
The UAE and Georgia signed a joint statement confirming the successful conclusion of negotiations towards the UAE-Georgia Comprehensive Economic Partnership...
- Comprehensive Economic Partnership Agreement (CEPA) signing took place in Georgia’s capital Tblisi during a UAE delegation's visit to the country.
- The free trade agreement or CEPA will lay the foundation for deeper, stronger and more integrated economic relations between the UAE and Georgia.
Economy
Lebanon central bank chief denies financial misconduct
Lebanese central bank governor Riad Salameh maintained his innocence following a second day of questioning before European investigators in Beirut...
- Following a three-hour session, Salameh released a statement saying he appeared as a witness and "not as a suspect or facing charges".
- The European investigators are looking into allegations of financial misconduct, including possible money laundering and embezzlement.
Economy
OECD raises global growth forecast as inflation eases, recovery ‘fragile’
The OECD raised its global economic growth forecast as inflation eases and China emerges from Covid restrictions, but warned of...
- Organization for Economic Co-operation and Development says rate increases are still needed to fight inflation.
- OECD cited uncertainty over the course of the war in Ukraine, the risk of renewed pressure on energy markets.
Economy
Conflict may get us before climate, warns Professor Rangan
A multi-plural world that embraces diversity and contradictions is crucial for peaceful coexistence free of conflicts, Prof Subramanian Rangan of...
- A multi-plural world that embraces diversity and contradictions is crucial for peaceful coexistence free of conflicts, Subramanian Rangan of INSEAD tells TRENDS in an interview
- Businesses need to revise their models to integrate income and impact, market and society, and humanity and nature. Also, education is key in using technology responsibly, he adds
Economy
Silicon Valley Bank demise: US Fed lends banks $12bn to ease stress
The Fed had unveiled the scheme alongside the Treasury and the Federal Deposit Insurance Corporation on Sunday night, as authorities...
- The outstanding amount of all advances under the Bank Term Funding Program reached $11.9 billion by Wednesday, the US central bank announced in a statement
- The new liquidity facility made additional funding available "to help assure banks have the ability to meet the needs of all their depositors," the statement read
Business
India’s Bharat Dynamics Limited picks EDGE’s GradeOne as partner
ABU DHABI, UAE - Bharat Dynamics Limited (BDL), a Defense Public Sector Undertaking under India's Ministry of Defense appointed EDGE's...
- Established in 2004, GradeOne specializes in defense trading and services and providing various solutions to the military and defense sectors
- It is part of the Trading & Mission Support cluster within EDGE, one of the world’s leading advanced technology groups.
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Morocco ‘water highway’ averts crisis in big cities but doubts over sustainability
Morocco is spending hundreds of millions of dollars on tapping northern rivers to supply water to parched cities farther south...
Economy
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Ducab, Somagec ink MoU
Business
UAE’s CEPA program marks ‘exponential growth’
“Trade has always been important to the UAE, a bridge connecting our products, skills, and natural resources to the world,...
Economy
Nationalization efforts transform Saudi workforce
Saudi Arabia's ambitious nationalization initiative has significantly impacted its labor market, with the Kingdom experiencing a historic low unemployment rate...
Economy
GCC eyes economic upswing, business growth in 2024
Despite last year's challenges, the region is set to see robust growth this year, led by the UAE, which is...
Economy
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YEARBOOK 2023
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
- UAE launched ALTÉRRA, the world’s largest private investment climate action vehicle, aimed at raising and mobilizing an additional $250bn for climate action.
- Despite global headwinds, CBUAE projects 3.3 percent year-on-year growth projected for the UAE economy in 2024.
Business
45 percent of Saudi employees work over 40 hours per week
Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...
- Figures also show that 46.6 percent of employees have received training on health and safety procedures, and 48.7 percent have health and safety departments in their workplace.
- Data also shows that 7.8 percent of employees deal directly or indirectly with chemicals, medical waste, radioactive materials or toxic gases.
Business
Bank takes over Amiantit subsidiary
The bank will absolve Amiantit of all its financial obligations.
- The debt being cleared constitutes approximately 50 percent of the total liabilities that Amiantit owes to various banks.
- Preliminary estimates suggest the company will recognize profits worth US$128 million as a result of this settlement.