From healthcare to finance: How AI is reshaping global industries and GCC economies
A study by the World Economic Forum reveals that AI could replace around 85 million jobs by 2025
Science
Building Smart Cities Starts with Listening to People
Successful smart cities address real challenges, like Mexico City’s digitalization of government services.
Economy
Geostrategy
US, UAE officials discuss financial crimes
ABU DHABI, UAE - The US Department of the Treasury’s Under Secretary for Terrorism and Financial Intelligence Brian Nelson led...
- Officials from both the countries reiterated their commitment to the continued dialogue between the two sides.
- They agreed to exchange respective experiences on efforts pertaining to Virtual Assets and Virtual Asset Providers (VASPs), supervisory efforts.
Business
Sanofi 2022 net profit at $7.3bn
Dupixent drug has been a huge success for the firm.
- Sanofi is aiming for US$10.9 billion in sales of Dupixent this year.
- The company's net profit rose by eight percent in 2022.
Science
Europe looks to geothermal energy as gas alternative
MUNICH, GERMANY - The heating plant in Munich's southern Sendling neighborhood has been run for more than a century on gas,...
- Munich is pouring in US$1.1 billion through 2035 to develop the geothermal energy and make the city's heating carbon neutral.
- Reliable and sustainable geothermal energy seems like the perfect alternative to gas.
Business
Egyptians hope to bag bargains at Arab world’s largest book fair
Cairo, Egypt---Thousands of Egyptian bibliophiles weave through a labyrinthine display of books, reviving an annual tradition at the Arab world's largest...
- The 54th Cairo International Book Fair was overshadowed by a punishing economic crisis that has seen Egypt's currency halve in value and prices skyrocket in the past year.
- To incentivize readers, Egypt's publishers' association has encouraged sellers to give the option of buying books in instalments through popular buy-now-pay-later services.
Economy
China expected to boost global growth but uncertainties remain: IMF
After almost three years of stringent health restrictions, Beijing in December abruptly ended the zero-Covid policy that had battered the...
- The IMF on Monday revised its 2023 growth forecast for China up to 5.2 percent, after upgrading its global growth forecast partially based on the country's reopening.
- China's population shrank last year for the first time in more than six decades and seen birth rates plunge to record lows as its workforce ages.
Economy
Number of visitors to Petra surges by 147 percent
Suliman Farajat, chairman of the PDTRA, stated that tourism in the red-rose city swiftly rebounded from the Covid pandemic impact...
- In January 2019, a total of 56,559 people visited Petra, while in January 2022, the lost city welcomed 30,287 visitors
- Suliman Farajat, chairman of the PDTRA, stated that tourism in the red-rose city swiftly rebounded from the Covid pandemic impact in 2022
Business
Iraq hopes talks can resolve hitches in US$10bn Total deal
Iraq admitted it had differences with France's TotalEnergies over a US$10-billion contract, including over the distribution of investments, but expressed...
- The French energy giant had signed the US$10-billion contract with Iraq in September 2021.
- The partnership has struggled to materialize amid reported signs of discord between the two sides.
Economy
Iraq calls for more economic cooperation with Saudi Arabia
Baghdad is currently heavily dependent on neighboring Iran for its electricity and gas and has sought to diversify its energy...
- Iraq's foreign minister said Riyadh was ready to back Saudi companies investing in Iraq and welcomed it.
- Despite being oil-rich, Iraq suffers from crumbling infrastructure and public services, after decades of conflict.
Business
DHA, DIEZ ink MoU to support healthcare sector
DUBAI, UAE - Dubai Health Authority (DHA) has signed a Memorandum of Understanding (MoU) with Dubai Integrated Economic Zones Authority...
- The MoU aims to enhance the private health sector’s investments in Dubai and consolidate the sector’s role in the ongoing development of health facilities.
- DHA, DIEZ will develop a special framework to pinpoint innovation standards of healthcare start-ups in Dubai.
Business
Telenor 2022 net profit at $4.5bn
Merger of its Malaysian subsidiary with a firm helped.
- Telenor said it had made good progress in the planned merger of its subsidiary Dtac with True in Thailand.
- The firm maintained its earnings forecast for the current year and proposed a slight increase in its dividend for 2022.
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
From healthcare to finance: How AI is reshaping global industries and GCC economies
A study by the World Economic Forum reveals that AI could replace around 85 million jobs by 2025
Science
Company News
Latest News
Digitalization has high environmental costs, says UNCTAD meet
DUBAI, UAE - With global attention on the COP28 climate summit, UNCTAD’s eWeek 2023 highlighted digitalization’s potential to accelerate climate...
Geostrategy
Global trade likely to decline in 2023 due to changing trade patterns, geopolitics
DUBAI, UAE - The outlook for 2024 remains “highly uncertain and generally pessimistic,” UNCTAD says in the Global Trade Update,...
Economy
El Salvador to issue bitcoin bonds in first quarter of 2024
With bitcoin, Bukele sought to make it easier, and cheaper, for Salvadorans to receive remittances and to provide financial services...
Economy
Most Read
Economy
Jordan’s mission to save its ancient olive trees
Jordan's culture ministry, Gharaibeh's organization is working to add the trees to the UNESCO Intangible World Heritage List, hoping this...
- Jordan has 11 million olive trees in groves that make up 20 percent of all cultivated land in the country
- They produce 50,000 tons of olives and 25,000 tons of olive oil annually, contributing $169 million to the economy
Business
Riyadh Season draws 9 million visitors to its entertainment zones
Riyadh, Saudi Arabia - The number of visitors to Riyadh Season has surged to over 9 million, indicating a significant...
- Riyadh Season, marked by the slogan "Big Time," completed the spectrum of entertainment choices with top-tier events and festivals across various zones
- Boulevard City zone emerged as a site filled with entertainment options, along with Boulevard World which features a variety of international cultures
COP28 UAE
‘Investment policies must align with net-zero goals’
An alliance of public and private sectors is crucial for advancing the green agenda and effectively managing supply chain emissions,...
- An alliance of public and private sectors is crucial for advancing the green agenda and effectively managing supply chain emissions, WEF's Kimberley Botwright tells TRENDS.
- Technological advancements, particularly AI, are key accelerators in sustainable trade, while an estimated $125 trillion is required for the net-zero transition by 2030, she adds.