Abu Dhabi sees 67% annual rise in number of AI company registrations

• The study highlights on Abu Dhabi’s ambitions to maximize the benefits of utilizing AI systems, applications, technologies, and solutions
• In recent year, Abu Dhabi Chamber has adopted innovation and digital transformations and implemented supportive policies

UAE sets innovative media policy to propel the country onto global stage

• The roadmap emphasizes the importance of aligning national efforts and creating partnerships to boost the UAE’s media sector.
• It aims to develop a media industry that embraces global cultures, driven by innovation and youth leadership.

Israel minister says Arab trade ties unfazed by Gaza war

• When asked about Israel's economic losses due to the war, Barkat said it could add "anywhere between 150 to 200 billion shekels ($42-55 billion)" to the country's national debt
• Barkat said Gaza war could help Israel boost sales of military technology, noting there is "high interest" from many countries, without specifying if Arab states were among them

Geopolitical risks, sanctions keep commodity markets on edge

• The report said many participants emphasized the risks of moving too quickly and noted the importance of carefully assessing incoming data
• The recent data revealing a weakening demand in the US restricted the rise in oil prices, as the crude oil stocks in the country increased by 7.1m barrels

IMF predicts soft landing for global economy, yet growth remains muted

• A soft landing, described as an economic slowdown resulting from a central bank's cautious interest rate increases, aims to avoid a recession
• The IMF suggested that global economic growth could surpass expectations if disinflation progresses faster than anticipated, prompting earlier monetary policy easing

Arab League organizes workshop to discuss BRICS role in MENA region

Bitcoin surpasses $57,000 as crypto rally remains strong

• The rise follows Bitcoin's climb above $54,000 on Monday, a milestone not reached since December 3, 2021
• The cryptocurrency has been experiencing a bullish trend since January 11, when the US Securities and Exchange Commission approved spot Bitcoin ETFs

‘Emphasis grows on market protection over free trade’

• Sweden remains committed to the rules-based international trade system amidst rising geopolitical tendencies.
• Swedish Minister Johan Forssell calls for enhancing competitiveness over subsidy reliance for economic development.

Iran becomes world’s ninth biggest steel producer, says WSA

• In the first month of 2024, Iranian steel mills produced a total of 2.6 million tons of steel.
• The world's 71 steel-producing countries produced 148.1 million tons of steel in January 2024.

UAE announces US$2,722 penalty for late corporate tax registration

• A penalty of US$2,722 (AED10,000) will be imposed on businesses that do not submit their Corporate Tax registration applications on time.
• The penalty was implemented to prompt taxpayer compliance with laws through timely corporate tax registration.