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,...
Economy
Oman launches New Nation Brand at Davos to enhance global presence
Muscat, Oman – Oman on Tuesday launched its New Nation Brand at the World Economic Forum in Davos in an...
Economy
Saudi labor market booms amid economic shifts
Employers in the Kingdom anticipate workforce expansions and salary hikes, though grappling with talent shortages and evolving work models, says...
- Employers in the Kingdom anticipate workforce expansions and salary hikes, though grappling with talent shortages and evolving work models, says a report.
- Increased investment in skills development and mentorship is crucial, while diverse perspectives on AI's impact call for strategic preparation of future workforce.
Economy
UAE achieves milestone in combating financial crimes
“It highlights the collaborative efforts of various committees, entities, and national bodies, including the Central Bank and the National Committee...
- The FATF recognizes UAE's commitment to combating money laundering and terrorism financing.
- UAE's national strategy aligns with international standards to ensure financial system integrity.
Economy
Tunisians take to streets to protest economic woes
Head of Tunisia's trade union confederation Noureddine Taboubi said in a speech to protestors that the economic and social situation...
- He said the state's ability to service its foreign debt had been to the detriment of the people
- The Tunisian sluggish economy posted growth of 0.4% and an unemployment rate of 16.4% in 2023
Economy
Qatar and China entrepreneurs explore partnerships, JVs in tech and energy
Doha, Qatar-- Businessmen and entrepreneurs from Qatar and China have discussed opportunities to set up joint ventures and commercial partnerships...
- The talks between the two sides focused on enhancing bilateral economic relations and exploring the investment climate and opportunities
- The volume of trade between Qatar and China has grown significantly in recent years, increasing by 62 percent and reaching $22bn last year
Economy
WTO conference ends with acceptance of Abu Dhabi Declaration
Abu Dhabi, UAE--The 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO) has concluded with the acceptance of Abu...
- Dr. Thani Al Zeyoudi termed the declaration as a “a momentous week not only for Abu Dhabi and the UAE, but for global trade as a whole”
- Many breakthroughs were achieved on dispute settlement, with an agreement to fulfil the MC12 mandate to arrive at a dispute settlement system
Economy
Qatar backs joint transition to low-carbon energy
Eng. Saad bin Sherida Al Kaabi notes that Qatar has consistently underscored its strong and supportive position regarding natural gas...
- Qatar recognizes the urgent need for a shared vision towards a balanced and sustainable transition to low-carbon energy, amidst calls for the abolition of fossil fuels.
- Ensuring security of energy supplies and market stability requires a unified effort, highlighting the role of natural gas in achieving equitable access to cleaner energy.
Business
Apple’s changes contradicts European rules, 34 firms complain
Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...
- Companies have expressed doubts about how much Apple's changes would ultimately broaden consumer choice and digital competition.
- Apple in January announced it was modifying how its iOS operating system, Safari browser and App Store operate in the 27-nation EU.
Business
Total value of Saudi Arabia’s export of dates reaches US$389m in 2023
RIYADH, SAUDI ARABIA - According to data released by the National Center for Palms and Dates (NCPD), the value of...
- By the end of 2023, the number of countries importing Saudi Arabian dates had reached 119.
- The total value of date and date-byproduct exports increased by 152.5 percent since 2016.
Economy
Unit 4 of UAE’s Barakah Nuclear Energy Plant commissioned
Abu Dhabi, UAE - The Emirates Nuclear Energy Corporation (ENEC) on Friday announced that its operating and maintenance subsidiary, Nawah...
- The reactor has begun initial production of heat through nuclear fission, used for generating electricity by turning a turbine with steam
- In the coming weeks, Unit 4 will link to the national electricity grid, entering a testing phase to gradually increase its power output to full capacity
WTO talks end with no major win, throwing trade body into ‘crisis’
Speaking at the closing press conference, the Emirati chair of the so-called MC13 gathering, Thani Al Zeyoudi, acknowledged the shortcomings. "Despite...
- The outcomes of the WTO's 13th ministerial conference in Abu Dhabi highlighted the sharp divisions between the body´s 164 members amid geopolitical tensions and economic headwinds
- For her part, WTO Director-General Ngozi Okonjo-Iweala said the talks came up "against an international backdrop marked by greater uncertainty than at any time I can remember."
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,...
Economy
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Crude could spike by US$20 on Iran oil shock
Oil prices could shoot up US$20 per barrel if Iranian production sees a hit resulting from Israeli retaliation, according to...
Economy
Sub-Saharan Africa: Nigeria takes #2 spot in global crypto adoption
Sub-Saharan Africa accounts for the global cryptocurrency economy’s smallest share, representing 2.7% of transaction volume worldwide between July 2023 and...
Economy
Asia-Pacific markets mixed after Powell signals smaller rate cuts
Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the...
Economy
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Business
Qatar Airways seeking 25% stake in Virgin Australia
Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal...
- The deal could significantly shake up Australia's air travel market which is currently dominated by Qantas
- In 2023, Australia's center-left government rejected Qatar's bid to put on 21 extra international flights to and from Australia
Saudi economy to register losses until 2027, says finance ministry
Saudi Arabia anticipates a budget deficit of 2.3 percent of GDP in 2025. Estimates put total government revenues for 2025...
- Saudi Arabia anticipates a budget deficit of 2.3 percent of GDP in 2025
- Estimates put total government revenues for 2025 at approximately US$320 billion, which would create a deficit of US$27bn
Economy
China launches late stimulus push to meet 2024 growth target
China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch...
- hina plans to issue special sovereign bonds worth about $284.43 billion this year
- A wide range of economic data in recent months has missed forecasts