Real challenges of digital transformation
Blockchain enhances security and efficiency by decentralizing data storage, and reducing fraud, David Boast tells TRENDS in an exclusive interview.
Economy
A new era of economic growth and productivity with AI
The technology will likely automate millions of jobs, Mark J. Penn, a US businessman, political strategist, and author tells TRENDS...
Economy
Economy
Realty growth in Saudi Arabia, UAE to build on strong private sector and robust spending via govt initiatives
While 2022 saw record levels of demand for commercial office space as a result of ‘Programme HQ’, 2023 looks set...
- Pent-up demand from travelers and increased spending by residents led the post-pandemic recovery of the real estate sector in Dubai
- The post-COVID recovery of the Saudi real estate sector is led by increasing tourist demand and government spending on infrastructure projects
Economy
New lab set to make KSA a leader in renewable energy
The Gulf International Laboratory aims to localize industries, enhance local content and build capabilities to boost competitiveness of the Kingdom's...
- The Gulf International Laboratory aims to localize industries, enhance local content and build capabilities to boost competitiveness of the Kingdom's economy
- The laboratory is likely to save more than US$ 266.5 million in the field of testing energy devices by eliminating tests conducted outside Saudi Arabia
Economy
Saudi ministry signs MoU with Standard Chartered to boost mining investment
Riyadh, Saudi Arabia – The Saudi Arabia’s Ministry of Industry and Mineral Resources (MIM) and Standard Chartered Bank (SCB) have...
- The MoU will assess the requirements for sustainable investment in the mining sector in Saudi Arabia as per the objectives of Vision 2030
- The deal also aims at promoting knowledge transfer, tech enablement, job creation and implementation of Future Minerals Forum outcomes
Business
DEWA’s R&D Center registers its 7th patent for 3D printing adhesive device
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has announced the registration of a new patent for an adhesive...
- The device distributes the adhesive material on the 3D printing plate, ensuring that the printed material sticks securely to the build plate.
- DEWA's R&D Center is responsible for supporting innovation in all production and operational areas.
Oil rises as Russia cuts output after Western price cap
Brent, the international benchmark, and its US counterpart WTI, which had been down earlier in the day, jumped more than...
- Russia is part of a 23-nation alliance with the OPEC crude cartel that already agreed in October to reduce output by two million barrels per day until the end of this year
- An EU-wide ban on Russia oil products - like diesel, gasoline and jet fuel - came into effect Sunday alongside a Group of Seven (G7) price cap on the same items
Economy
OPEC Fund supports critical infrastructure in Africa with $50m loan
The proceeds of the 10-year loan will be used to improve connectivity, transport, logistics, trade and to boost access to...
- The proceeds of the 10-year loan will be used to improve connectivity, transport, logistics, trade and to boost access to energy across the African continent
- Africa’s economic growth has been slowed by global supply chain disruptions and rising costs in the aftermath of the COVID-19 pandemic
Economy
Entertainment may add 4.2% to Saudi GDP by 2030
As the number of companies operating in the industry expected to exceed 2,500, the sector is likely to create 450,000...
- As the number of companies operating in the industry expected to exceed 2,500, the sector is likely to create 450,000 job opportunities in the Kingdom
- Saudi Arabia also seeks to establish and develop recreational areas throughout the country, the most recent of which is the opening of the 'VIA Riyadh'
Business
UAE MoIAT, Sharjah FDI Office ink MoU to promote investment
SHARJAH, UAE - The UAE's Ministry of Industry and Advanced Technology (MoIAT) and Sharjah Foreign Direct Investment Office (Invest in...
- The aim of the MoU is to support sustainable economic growth within a supportive economic environment.
- The MoU enhances cooperation between MoIAT and the Sharjah Foreign Direct Investment Office (Invest in Sharjah), through work and partnerships
Business
Dubai Chamber encourages firms to apply for parent-friendly label
DUBAI, UAE - As many individuals in the UAE face challenges in balancing work and family obligations, parent-friendly workplace policies...
- Working families in the UAE often need to make difficult trade-offs to fulfill their commitments.
- Research has shown that flexible working options are important to 90 percent of the UAE workforce.
Business
Industry experts discuss fintech at Sharjah Investment Forum 2023
SHARJAH, UAE - Financial innovation and technology trends in global financial services sector were in the spotlight during a panel...
- Fintech and traditional financial institutions are intertwined and depend on each other.
- Fintech reaches populations who may not have access to traditional banking system.
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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
Real challenges of digital transformation
Blockchain enhances security and efficiency by decentralizing data storage, and reducing fraud, David Boast tells TRENDS in an exclusive interview.
Economy
Company News
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D33 Economic Agenda helps Dubai’s tourism thrive
“Dubai’s robust partnerships with leading travel and hospitality companies are key to fostering the growth of this crucial sector, both...
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...
Economy
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...
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Economy
‘Double efforts to tackle labor market challenges’
"The digital economy represents a clear path to employment opportunities. Additionally, exploring other avenues, such as the green economy, is...
- Employment rates for young men and women in the Arab region are around 26 percent, says International Labor Organization Director-General Gilbert F. Houngbo.
- He also highlights the significant challenges currently intensified by climate change, rapid technological advancements, demographic shifts, and geopolitical tensions.
Economy
Palestine sees 3.7% economic shrink amid conflict
The World Bank reports a severe economic downturn in Palestinian economy due to Israel-Hamas conflict, with Gaza's economic contribution falling...
- The World Bank reports a severe economic downturn in Palestinian economy due to Israel-Hamas conflict, with Gaza's economic contribution falling from 36% to 17% since 2005.
- Despite the conflict in Gaza causing job losses, infrastructure damage, and rising poverty, the Palestinian banking sector has shown resilience amidst the ongoing crisis, it adds.
Business
UAE GDP set to double in 2024 from oil and non-oil boost: report
Dubai, UAE - The UAE’s GDP is expected to double in 2024 to 4.8%, up from 2.4% year-on-year in 2023,...
- The UAE has been actively pursuing non-oil sector expansion as part of its economic development plans
- The recent successful sovereign bond sale, which raised US$1.5 billion, has bolstered these efforts