Smart cities lead GCC’s IoT boom: NEOM and Smart Dubai in focus
IoT applications are transforming critical sectors such as transportation, where connected vehicles improve traffic management, utilities where smart grids enhance...
Economy
Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
Analysis
Geostrategy
UAE, Algerian ministers discuss enhancing bilateral cooperation
ABU DHABI, UAE - UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan and Algerian...
- UAE, Algerian ministers reviewed ways to advance cooperation in areas that contribute to sustainable economic growth.
- The two ministers discussed UAE's hosting of the 28th session of the Conference of the Parties (COP 28) this year.
Economy
Qatar’s 2022 budget surplus grows 5462%
The surplus for Q4 2022 was 3.18 billion, compared to a deficit of $0.90 billion in the same quarter of...
- The surplus for Q4 2022 was 3.18 billion, compared to a deficit of $0.90 billion in the same quarter of 2021
- Total revenues for the quarter came in at$18 billion, compared to $14 billion in the same period last year
EU eases Syria sanctions to speed up quake aid
The EU measure will last for six months and was taken "in view of the gravity of the humanitarian crisis...
- Aid organizations will no longer need to seek permission from EU member state governments before sending supplies to sanctioned entities in Syria
- EU pointed out that it and its member states have contributed a total of $26 billion to Syria and to refugee-hosting neighbors such as Turkey since 2011
Economy
Qatar’s 2022 budget records surplus of US$24.45bn
At the time of the approval, the budget was estimated to hit a deficit of QAR 8.3 billion. "The deficit...
- Qatar's budget surplus for Q4 of 2022 (October to December) was QAR11.6 billion, compared to a deficit of QAR3.3 billion in the same quarter of 2021
- Total revenues for the quarter came in at QAR 65.1 billion, compared to QAR51.5 billion in the same period of last year
Economy
UAE, Egypt, Jordan, Bahrain to announce joint industrial projects worth millions of dollars
The third meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development will take place in Jordan's...
- The third meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development will take place in Jordan's capital Amman
- The member states will collaborate to grow their respective industrial sectors by integrating resources and industries and leveraging competitive advantages
Economy
Gulf Common Market moves ahead with new tracks
New tracks have been launched in the Gulf common market to supplement the 10 current tracks. The bloc also seeks...
- New tracks have been launched in the Gulf Common Market to supplement the 10 current tracks. The bloc also seeks collaboration with the private players in the region
- The "third phase" of the statistical survey was also reviewed during the meeting to assess the implementation of the GCC Common Market plans on the ground
Economy
Turkey slashes borrowing rate to press quake recovery
Turkey was already battling runaway inflation and relying on wealthy allies to keep its economy afloat when the massive earthquake...
- A prominent business group has estimated there was some $84 bn in quake damage, but estimates from other experts are more conservative, putting the total closer to $10 bn.
- When the quake hit, Turkey's official annual inflation rate had slowed to 58 percent from a two-decade high of 85 percent last year.
Business
Renewables investments record high in 2022, but need massive increase
A report by the International Renewable Energy Agency (IRENA) and Climate Policy Initiative (CPI), said although global investment in renewable...
- The report emphasizes how lending to developing countries looking to deploy renewables must be r highlights the need for public financing to play a much stronger role.
- Achieving an energy transition in line with the 1.5°C Scenario also requires the redirection of $0.7 trillion per year from fossil fuels to energy-transition related technologies.
WHO using Syria sanctions pause to ship in health supplies
The massive 7.8-magnitude tremor on February 6 has killed more than 42,000 people in Turkey and more than 3,600 in...
- The WHO said it was capitalizing on the suspending of sanctions to carry out some rapid procurement and revitalize Syria's shattered health services
- The UN health agency called on Syria's warring factions to see the earthquake as an opportunity to end the civil war for good
Economy
UAE-Azerbaijan trade advances significantly: Envoy
The bilateral ties between the two countries were further strengthened after the inauguration of the UAE Embassy in the Azeri...
- The UAE and Azerbaijan have deep-rooted ties and are keen to expand their bilateral trade, says envoy Mohammed Murad Al Balushi
- The bilateral ties between the two countries were further strengthened after the inauguration of the UAE Embassy in Baku in 2011, he adds
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Smart cities lead GCC’s IoT boom: NEOM and Smart Dubai in focus
IoT applications are transforming critical sectors such as transportation, where connected vehicles improve traffic management, utilities where smart grids enhance...
Economy
Company News
Latest News
New platform to revolutionize global sustainability
World Wide Generation's and e& join hands to combine innovative technology and global collaboration to address critical environmental, social, and...
COP28 UAE
MENA faces economic turbulence due to Gaza conflict
The Israel-Hamas conflict not only threatens regional stability but also poses significant economic challenges for MENA nations, says Fitch Ratings.
Economy
Oil prices rise following Red Sea attacks
Oil prices shot up three percent as more companies suspended shipping through the Red Sea following attacks on vessels by...
Market Report
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Economy
Enhanced norms help UAE win financial crime battle
“This has led to heightened compliance levels with the country's laws, aligning with global efforts to combat money laundering and...
- The UAE adopts innovative legislative policies in order to combat money laundering and terrorism financing.
- Safeya Al-Safi, Director of Anti-Money Laundering, emphasizes heightened compliance with global standards.
Economy
UAE ranks first in Middle East, 4th globally as remote work destination
Dubai, UAE -- The UAE has ranked first in the Middle East and fourth globally as a leading destination for...
- The UAE ranked fourth after Spain, Argentina, and Romania, according to the website, which develops rankings based on a variety of factors
- UAE Minister Omar bin Sultan Al Olama said his country has established a flexible and future-oriented system for remote work
COP28 UAE
Innovative solutions crucial for marine conservation
The MENA Oceans Network, launched at the COP28, marks a pivotal step in addressing urgent ocean-related challenges in the region,...
- The MENA Oceans Network, launched at the COP28, marks a pivotal step in addressing urgent ocean-related challenges in the region, says Tatiana Antonelli Abella of Goumbook.
- This multi-stakeholder initiative, supported by the UN-UAE Office, aims to enhance marine conservation, promote a sustainable blue economy, and support SDG14 drive, she adds.