IMF cuts global growth outlook on impact of Trump tariffs
Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the...
Economy
Chinese vent anger at Trump’s trade war with memes, mockery
Beijing, China -- While China's leaders use their economic and political might to fight Donald Trump's trade war "to the...
Geostrategy
Geostrategy
UNCTAD rallying global action to assist 46 least developed countries
UNCTAD’s Secretary-General Rebeca Grynspan and Deputy Secretary-General Pedro Manuel Moreno will lead the organization’s delegation to the fifth UN conference...
- UNCTAD is calling for effective debt relief and international support to build stronger productive capacities.
- Least developed countries are the most vulnerable economies in the world, accounting for only 1.3 percent of global GDP.
Economy
Egypt arrests 29 over alleged online crypto scam
Cairo, Egypt - Egyptian authorities have detained 29 people, including 13 foreigners, accused of running an online cryptocurrency scam that defrauded...
- The scheme promised large profits from crypto-currency mining and trading services, for fees charged at an attractive foreign exchange rate.
- The network pocketed about US$620,000 at the expense of its victims in the country now battered by an economic crisis and rapid inflation.
Videos
Tough laws, quotas may plug GCC gender gap
Despite being the most educated demographic, women in the region have the lowest employment rates. it is crucial to incorporate...
- Experts say that at this pace, it will take Middle East and North Africa region more than 142 years to bridge the gender gap.
- While more companies are paying closer attention to Diversity, Equity and Inclusion issues persist in the GCC region.
Geostrategy
Satellites could beam poorest nations out of digital desert
At the moment just 36 percent of the 1.25 billion people in the world's 46 poorest countries can plug into...
- The divide has been a key complaint at a UN summit in Doha, where UN chief Antonio Guterres told their leaders that "you are being left behind in the digital revolution".
- The launch of thousands of Low-Earth Orbit satellites could bring speedy change and boost African hopes, tech experts promised at the Doha summit.
Economy
Saudi ranks first in technical, vocational education enrollment
Riyadh, Saudi Arabia-- Saudi Arabia ranked first globally on the Global Knowledge Index 2022 in the percentage of students enrolled...
- The Index is issued by Mohammed bin Rashid Al Maktoum Knowledge Foundation in collaboration with United Nations Development Program.
- It provides reliable data to help countries and decision makers to understand and face the real transformations and challenges.
Economy
UAE keen on new technologies, says minister at Raisina Dialogue 2023
NEW DELHI, INDIA - UAE Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications Omar Sultan Al...
- Representatives from over 100 countries, including ministers, military commanders, captains of the Industry, participated in Raisina Dialogue 2023.
- The UAE is keen on sharing knowledge, experience and success stories by participating in international conferences.
Economy
After 15 years of talks, UN states agree on deal to protect high seas
The deal described by many as historic is seen as key to conserving 30 percent of the world's land and...
- Greenpeace's Laura Meller called it a historic day for conservation and a sign that in a divided world, protecting nature and people can triumph over geopolitics
- The treaty will also oblige countries to conduct environmental impact assessments of proposed activities on the high seas
Economy
UAE positioned itself as key player in global value chain: Al Zeyoudi
Abu Dhabi, UAE-- Stating that the global reshuffling of economic gravity is providing an opportunity for the UAE, Dr. Thani...
- Al Zeyoudi said the UAE achieved a remarkable 17 percent growth in trade figures, reaching a total of $630 billion
- The minister affirmed his confidence in the UAE's ability to continue attracting investments and achieving strong trade growth in the coming year
Economy
Iraq customs orders enforcement of alcohol import ban
In spite of divisions over the legislation, Iraq's customs department has given orders to begin enforcing a ban on alcohol...
- The new legislation approved by parliament in 2016 only became law after its publication in the official gazette on February 20
- It has drawn sharp criticism from rights activists and lawmakers representing Iraq's dwindling non-Muslim communities
Economy
Iran announces discovery of large lithium deposit
TEHRAN, IRAN - Iran has announced the discovery of a large deposit of lithium, a key component of batteries for electric...
- This reserve is believed to hold "8.5 million tonnes" of lithium, according to a senior Iranian official.
- This white metal is an essential component of rechargeable batteries used in cell phones and other electronic devices.
IMF cuts global growth outlook on impact of Trump tariffs
Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the...
Economy
Company News
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Saudi Arabia launches skill verification program in Egypt
Riyadh, Saudi Arabia - Saudi Arabia, through its Ministry of Human Resources and Social Development (MHRSD), has initiated the first...
Economy
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
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Business
UAE announces reduction in fuel prices for January
ABU DHABI, UAE - The prices of petrol and diesel are set to decrease in the country in January following...
- This change reflects a continuous trend observed in the fuel prices over the past few months.
- September and October witnessing increases and November and December seeing reductions.
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.