OECD lowers global growth projections over tariffs, uncertainty
"We are navigating troubled waters," said the OECD's chief economist Alvaro Santos Pereira as he summed up the world's economic...
Economy
Electric, hybrid and aerial to entirely transform city life: IIT Madras expert
Easier commutes with faster, quieter, and eco-friendly vehicles would reduce travel times significantly and reduce stress for urban residents, says...
Interview
Economy
Dubai’s Urban Plan 2040 ‘a pathway to wellbeing’
The plan envisages that 55 percent of Dubai's population to live within 800 meters or less from public transport stations....
- Dubai 2040 aims to provide sustainable and flexible mobility options to ease the mobility of people, says said Mattar Al Tayer
- The plan envisages that 55 percent of Dubai's population to live within 800 meters or less from public transport stations, he adds
Business
Air Arabia 2022 net profit $326m
FY'22 turnover rose to $1.4 billion, up 65 percent YoY.
- The average seat load factor – or passengers carried as a percentage of available seats – for the full year stood at a high 80 percent.
- Air Arabia’s Board of Directors proposed a dividend distribution of 15 percent of share capital, which is equivalent to 15 fils per share.
Business
DEWA, ENOC sign MoU
Aim is to develop hydrogen-based mobility pilot project.
- The MoU between DEWA and ENOC was signed at the World Government Summit 2023 in Dubai.
- The project will utilize DEWA's existing green hydrogen production facility and ENOC's knowledge of the fuel market.
Business
Empower 2022 net profit $762m
Firm has proposed dividend of S$115 million for 2nd half 2022.
- The quality and sustainability of its services and advanced infrastructure has made it one of the world's largest player in the district cooling industry.
- This performance reflects the confidence in Empower by its customers and stakeholders, and the economic boom of Dubai.
Economy
UAE minister stresses importance of data protection at WGS
Dubai, UAE--Ohood Al Roumi, the UAE's Minister of State for Government Development and the Future and Vice Chair of the...
- Al Roumi said that the future belongs to those who succeed in employing data to drive progress and innovation
- She stressed the importance of establishing joint efforts between governments, decision makers, and societies to protect data and enhance data regulations
Economy
Qatar to send 10,000 World Cup cabins to Turkey and Syria
To house millions of people who lost homes in the devastating earthquake, Qatar will send some 10,000 cabins and caravans...
- The mobile homes were used for a few weeks when Qatar hosted the football World Cup last year
- Sheikh Tamim bin Hamad Al-Thani visited Turkey on Sunday, the first foreign leader to do so since last week's quake
Interview
UAE leads as ease in doing business makes prospects bright for small startups, self-employed across GCC
The market for small startups and self-employed entrepreneurs will boom due to lower startup cost amidst policy reforms and more...
- The UAE leads the pack as startups across GCC expect growth to continue as new laws make it easier for them to do business in the region, Be Unique CEO Dariush Soudi tells TRENDS
- "There will be a huge increase in blockchain platforms," he says, adding that this increase will come with a greater need for cyber security, programming and data analysis
Economy
IMF concerned over public debt in MENA countries
Speaking at the Arab Fiscal Forum in Dubai, the head of the IMF Kristalina Georgieva stated that public debt in...
- The IMF cautioned last month that economic growth in MENA could slow to 3.2% this year, before ticking up to 3.5% in 2024
- She said the region needs to boost its average tax-to-GDP ratio to at least 15% from a current 11%
Economy
UN relief chief fears Turkey-Syria quake deaths to top 50,000
UN relief chief Martin Griffiths said the death toll from the massive earthquake will "double or more" from its current...
- Officials and medics said 24,617 people were killed in Turkey and 3,574 in Syria. The confirmed total now stands at 28,191
- Turkey's disaster agency said more than 32,000 people from Turkish organizations are working on search-and-rescue efforts
Economy
Arab Parliament ratifies Jordan’s idea on center for food security
Cairo, Egypt--The Arab Parliament on Saturday endorsed a proposal submitted by Jordan's Lower House Speaker Ahmad Safadi, stipulating the establishment...
- Safadi said Jordan can facilitate and coordinate Arab and international action, and the proposed center would accelerate and enhance the global response to food crises
- He underscored the importance of supporting Libya and Yemen, and voiced rejection of all forms of external interference in their affairs
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
OECD lowers global growth projections over tariffs, uncertainty
"We are navigating troubled waters," said the OECD's chief economist Alvaro Santos Pereira as he summed up the world's economic...
Economy
Company News
Latest News
Qatar records 6 percent drop in Industrial Production Index in October
Doha, Qatar-- Qatar has recorded a 9.3 percent drop in the Industrial Production index (IPI) in the month of October...
Economy
COP28 initiatives to narrow climate finance disparity
Antoine Samaha of BCG applauds the launch of a Loss and Damage Fund for developing countries, emphasizing the need for...
COP28 UAE
Volunteers offer help to Arab-Israeli farmers amid Gaza war
Baqa al-Gharbiya, Israel--In Baqa al-Gharbiya, an hour's drive from Haifa, city folk have temporarily traded pens for boots to aid farmers...
Economy
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Economy
UAE to strengthen digital infrastructure in Azerbaijan
Abu Dhabi, UAE – The UAE and Azerbaijan have signed a Memorandum of Understanding (MoU) aimed at strengthening the digital...
- Data centers are crucial to a country’s digital infrastructure as they provide a secure space for storing critical data and running applications.
- Azerbaijan has taken steps towards advancing the digital economy, among else through the centralization of e-services and the digitization of public services
YEARENDER
GCC soars in global space race with key advancements
Saudi Arabia's new Saudi Space Agency and first ISS mission, coupled with UAE's Hope Probe and lunar projects, underscore their...
- Saudi Arabia's new Saudi Space Agency and first ISS mission, coupled with UAE's Hope Probe and lunar projects, underscore their rising status in global space sector.
- Bahrain's development of its first satellite and Kuwait's CubeSat initiative underscore the Gulf region's commitment to space technology and research.
Economy
Eurozone business activity continues downward trend in December
BRUSSELS, BELGIUM - Business activity in the eurozone slumped at a faster rate in December, weighed down by a deeper downturn...
- The HCOB Flash Eurozone purchasing managers' index (PMI) published by S&P Global fell to 47 in December from 47.6 in November.
- A figure below 50 indicates contraction and the risk of recession in the 20-nation single currency area remains, analysts warned.