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
IMF approves additional $1.3 billion aid program for Egypt
Washington, United States - The International Monetary Fund has approved an additional $1.3 billion assistance program for Egypt under its...
Economy
Economy
Iraq issues arrest warrants in ‘heist of the century’
The warrants do not name any of the officials, but according to the official, they are former finance minister Ali...
- An investigating judge in Baghdad has "issued arrest warrants for four senior officials of the former government."
- The four men include a former finance minister and staff members of former prime minister Mustafa al-Kadhemi
Economy
Proactive govt policies, high rates, slow global growth to lower impact of inflation in Gulf region
The GCC countries are likely to benefit from the relative stability in their financial covers due to high oil prices...
- The GCC countries are likely to benefit from the relative stability in their financial covers due to high oil prices and strong energy exports in 2022, reports suggest
- Inflation in the GCC averaged at around 4 percent mark and showed a downward trend for most countries in the region during the second half of 2022, they add
Business
Apple to produce iPhones in India
The proposed factory will be spread over 300 acres.
- "Apple phones to be built in the state soon," Karnataka state chief minister Basavaraj S Bommai tweeted on Friday
- "Apart from creating about 100,000 jobs, it will create a whole lot of opportunities for Karnataka," he added
Business
VW 2022 net profit at $16.7bn
Firm booked profit despite supply chain disruptions.
- German automaker Volkswagen on Friday said it booked a higher profit in 2022 despite supply chain disruptions and increased costs.
- The group expects vehicle deliveries to rise to around 9.5 million this year, from 8.3 million in 2022.
Economy
UAE ministry hosts WHO’s regional expert meet on healthy diet policies
DUBAI, UAE - UAE Ministry of Health and Prevention (MoHAP) hosted a regional expert meeting on healthy diet policies in...
- The meeting aimed to discuss recent developments in healthy diet policies, with a special emphasis on the UAE and GCC countries
- Senior officials and experts from the UAE's health and related sectors, as well as representatives from the GCC states, attended the meeting
Business
DEWA’s R&D Center registers 8th patent for geographical areas survey device
DUBAI, UAE - Dubai Electricity and Water Authority's (DEWA) Research and Development Center has obtained its eighth patent for a...
- The device employs real-time kinematic processing techniques to process data collected on-site.
- It works with a smart device developed by the R&D Center, which uses a smart app to read the updated coordinates in seconds.
Economy
UAE passport ranked most powerful in the world
With a score of 110.50, it jumped straight from 35th place last year to the top of the list.
- With a score of 110.50, it jumped straight from 35th place last year to the top of the list
- This is mainly due to the recent changes allowing foreigners to apply for dual citizenship
Economy
Trade leadership helps UAE emerge as a soft power
“Trade has had an indelible impact on our soft power. Located at a strategic global crossroads, the UAE is one...
- The UAE is a global gateway that believes in collaboration, cooperation and knowledge exchange as the main factors for economic and social growth, says a key minister
- The Gulf country continues to advocate for open, rules-based trade as a means of catalysing inclusive and broad-based growth, adds Dr Thani bin Ahmed Al Zeyoudi
Economy
Egypt raises fuel prices amid spiraling economic crisis
The Egyptian pound has lost half of its value, propelling annual inflation in the import-dependent country to 26.5 percent in...
- The Egyptian economy was hit hard after Russia's February 2022 invasion of Ukraine unsettled global investors, leading them to pull billions out of the North African country
- The war has sent wheat prices spiralling, heavily impacting Egypt - one of the world's largest grain importers - and piling pressure on its foreign currency reserves
Economy
Less than expected fall in EU inflation as food prices surge
Brussels, Belgium - The eurozone annual inflation rate fell to 8.5 percent in February, the EU's statistics agency said Thursday,...
- Inflation was down last month from 8.6 percent in January but analysts at financial data firm FactSet had forecast a steeper fall to 8.2 percent
- A continued decline in the rate of energy costs had pushed consumer prices lower but in February the rise in food and drink costs outpaced that of energy
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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
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Nedaa, Dubai Customs ink MoU
Business
UAE insurance sector grows with rise in gross written premiums in Q3 2023
Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) has said that the UAE insurance sector continued to...
Economy
Central Bank of Egypt keeps interest rates unchanged
Cairo, Egypt – The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) has kept the current key...
Economy
Most Read
Economy
UAE banking sector sees $71.87 billion in savings deposits until October 2023
Dubai, UAE - Savings Deposits in the banking sector in the UAE, excluding interbank deposits, hit $71.87 billion by the...
- The local currency, the dirham, accounted for the largest share of Savings Deposits, with around 82 percent, which is $59.12 billion
- Demand Deposits rose to $262.77 billion at the end of October 2023, with an annual growth rate of 5.6 percent
Economy
Climate threats haunt GCC’s economy and finance
The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's...
- The GCC faces a critical challenge as climate risks like extreme heat and water stress rise, potentially impacting the region's economic stability and financial health.
- A new S&P Global report underscores the urgency for adaptation and resilience investments to mitigate risks such as climate-induced flooding.
Economy
Lebanon economy to plunge into recession due to Gaza war
The impact of the conflict had reversed a slight recovery for Lebanon, which has battled a deep economic crisis for...
- Lebanon's economy collapsed in late 2019, plunging most of the population into poverty, according to the United Nations.
- Real gross domestic product is expected to decline "to between minus 0.6 percent to minus 0.9 percent depending on the extent of the tourism shock," the World Bank said.