AI, wealth management and trust: Could machines replace human advisors?
The future of wealth management lies in hybrid models, combining AI’s data-driven precision with human empathy and ethical oversight. While...
Economy
Humanity’s future is increasingly inseparable from AI
Private sector, governments, and nonprofits must invest in AI education, Jason Alan Snyder tells TRENDS in an exclusive interview.
Economy
Business
Saudi Arabia’s GDP grows 8.7 percent in 2022, reaches $1 trillion for first time
The growth rate is also the highest in the last decade, with crude oil and natural gas contributing 32.7%, government services 14.2%,...
- GASTAT said all economic activities achieved positive growth rates during 2022, with crude oil and natural gas contributing 32.7 percent.
- Non-oil activities increased by 5.4 percent during 2022, especially transport, storage and communications activities (9.1 percent).
Economy
China consumer inflation drops to lowest level in a year
China's consumer price inflation last month fell to its lowest level in a year, official data showed Thursday, as the...
- February's consumer price index (CPI) - the main gauge of inflation - rose one percent, down from a 2.1 percent annual rise in the first month of the year
- NBS statistician Dong Lijuan said the drop was caused by a "decline in consumer demand after the holidays as well as sufficient supply in the market."
Economy
OFID to provide $25m for Niger’s solar energy development
Vienna, Austria - The OPEC Fund for International Development (OFID) is offering a US$25 million loan for solar energy development...
- The OPEC Fund is joining forces with the African Development Bank, Power Africa, the Green Climate Fund and the Government of Niger
- The project also includes extending 2,600 km new transmission lines connecting cities in Niger’s south and the capital Niamey
Economy
US president’s budget plan to cut country’s deficit by US$3trn
Washington, United States--President Joe Biden will unveil a proposed budget on Thursday that would reduce the US national deficit by $3...
- According to Press Secretary Karine Jean-Pierre, over the next ten years the budget plan will cut the deficit by nearly $3 trillion
- Republicans who will be under pressure have said they are preparing thier own alternative budget plan focusing on spending cuts and no tax increases
Economy
Lebanon banks ‘have no liquidity,’ says bank association member
Beirut, Lebanon - Lebanon's commercial banks do not have enough liquidity to pay back depositors, the secretary general of the...
- Since 2019, Lebanon has suffered an unprecedented economic decline caused by decades of mismanagement and corruption
- The World Bank last year said Lebanon was likely to rank among the world's worst financial crises since the mid-19th century
Economy
Cash-strapped Egypt offers citizenship to foreigners investors
According to state newspaper Al-Ahram, a decision by Prime Minister Mostafa Madbouli published in the official gazette, says the premier...
- It is the latest in a series of measures by the government to woo foreign investment into Egypt, which is sapped dry of dollars
- In 2018, parliament had passed a law allowing foreigners to apply for the Egyptian nationality with a bank deposit of around $400,000
Economy
European Central Bank head pledges to tackle high inflation in Europe
Last week, Lagarde said that more interest rate hikes might be needed in the eurozone after the half percentage point...
- The ECB has raised interest rates at an unprecedented pace since last July to bring inflation back down to its two-percent target.
- And last week, Lagarde said that more interest rate hikes might be needed in the eurozone after the half percentage point hike it has already signaled will come later this month.
Business
US private sector employment surges by 242,000 jobs in Feb
"We're seeing robust hiring, which is good for the economy and workers, but pay growth is still quite elevated," said Nela...
- The employment in private sector increased by 242,000 jobs in February, almost twice the 119,000 figure in January.
- This follows a series of recent indicators showing that hiring remained strong, consumer spending resilient.
China pushes for tech-sector self-reliance to combat US, allies curbs
A broad restructuring document announced by China's cabinet on Tuesday intends to focus the Ministry of Science and Technology's resources...
- Beijing will also set up a national data administration to oversee the digital economy, as well as slash staffing at the country's central state institutions
- The restructuring comes as China pours resources into its research capabilities in the face of tightened restrictions on homegrown tech companies by the US
Economy
QFFD, EAA sign pacts to back education drive in Asia, Africa
Doha, Qatar-- In order to ensure education for children in the least developed countries of Asia and Africa, Qatar Fund...
- The agreements will ensure quality education for more than 709,060 out-of-school primary children between now and March 2027 through EAA's "Educate A Child" program
- The funding will enable access, enrollment, and learning skills, including teacher training, capacity buildings, refining educational techniques and methods
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AI, wealth management and trust: Could machines replace human advisors?
The future of wealth management lies in hybrid models, combining AI’s data-driven precision with human empathy and ethical oversight. While...
Economy
Company News
Latest News
Morocco doles out aid to low-income families
The launch comes a decade after the social benefits program was proposed, and as part of an overhaul of social...
Economy
Sustainable mobility rises as GCC turns to hydrogen
MENA countries, adopting ambitious clean energy and transportation strategies, aim for significant hydrogen production by 2050, led by UAE's National...
Economy
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
Economy
Most Read
Economy
Kuwait’s annual inflation jumps to 3.79% in November
According to the Kuwait Central Statistical Bureau, the upward trend was mainly attributed to rising prices across all major groups...
- There was a 6.86% jump in the clothing group and a 3.13% rise in housing services
- Culture and entertainment sectors surged by 3.54%, and education costs rose by 0.72%
Economy
‘Use AI to bridge global economic gaps, promote peace’
“To ensure AI makes ethical, inclusive, and prosperous decisions, we must educate ourselves on its workings. It’s crucial to manage...
- Omran Sharaf, the UAE's Assistant Foreign Minister, stresses the importance of respecting differences for proper AI development in national and regional contexts.
- He underscores AI's role in technological advancement, sustainable development, and the need for an effective international AI governance framework.
Geostrategy
FTA issues guide to determine natural persons subject to corporate tax
ABU DHABI, UAE - The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural...
- The guide provides a comprehensive and simplified explanation and instructions for natural persons earning in the UAE.
- The FTA emphasized the importance of understanding the comprehensive content and definitions outlined in the guide.