Trump’s tariffs on allies, China could shrink global merchandise trade volumes 1% in 2025, warns WTO
After Trump on Wednesday unveiled a blitz of harsher-than-expected levies aimed at countries around the globe, Ngozi Okonjo-Iweala warned the measures...
Economy
Morocco ‘water highway’ averts crisis in big cities but doubts over sustainability
Morocco is spending hundreds of millions of dollars on tapping northern rivers to supply water to parched cities farther south...
Economy
Geostrategy
Lebanon’s offshore exploration agreement supports the country’s economic development, says Qatar’s minister
"This very important commitment gives us the opportunity to support Lebanon’s economic development, at this critical juncture. And I want...
- Qatar had entered a consortium to explore for offshore gas in waters near Israel, following a historic border deal last year between the two rivals
- The agreement green-lights Lebanon's exploration of its southern Qana, or Sidon, reservoir following the signing of the landmark accord last October
Economy
Saudi Arabia explores space to secure solar energy
The Kingdom is studying the feasibility of investing in the futuistic UK project, which if materialized may play an important...
- The Kingdom is studying the feasibility of investing in the futuistic UK project, which if materialized may play an important role in combating climate change
- The project's cost is likely to exceed tens of billions of dollars amid expectations that the space solar energy project will be completed by 2040, reports suggest
Business
UAE’s EHS to showcase innovative health projects during Arab Health 2023
DUBAI, UAE - The Emirates Health Services (EHS) will showcase its 19 innovative healthcare projects during Arab Health Exhibition 2023,...
- Arab Health Exhibition is one of the largest forums that hosts major corporations, authorities and companies from all over the world.
- The forum provides an opportunity to achieve the goals of national strategies and projects that seek to turn the UAE into a global hub for health care.
Business
UAE launches ‘Tax Support’ program to promote compliance with laws
Dubai, UAE - UAE's Federal Tax Authority (FTA) started the ‘Tax Support’ initiative to raise tax awareness among UAE’s business...
- The step is likely to help the businesses in enhancing compliance with tax laws and regulations.
- As a result, the first workshop for 2023 under the initiative was held on 24th and 25th January in Oud Metha, Dubai.
Geostrategy
GCC Standardization Organization announces Training Plan for 2023
RIYADH, SAUDI ARABIA - The Gulf Cooperation Council (GCC) Standardization Organization (GSO) has announced its training plan for 2023 in...
- The 2023 training plan aims at contributing to developing cadres in the national standardization agencies in the member states.
- He said that the GSO will organize 15 training programs and workshops in a number of the cities in the GCC.
Geostrategy
Jordan, EU sign two financing agreements worth US$69m
AMMAN, JORDAN - Confirming its role as one of Jordan’s main supporters, the European Union (EU) on Sunday signed two...
- The first is financing a US$42 million program in support of Jordan's Ministry of Justice, Judicial Council, Judicial Institute and Public Security Directorate.
- The second US$27 million contributes to the "Green Growth" program from the Food and Resilience Facility.
Business
DEWA commissions 17 transmission substations worth US$871m in 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) inaugurated 17 new substations in 2022. These include fifteen 132kV stations...
- The transmission substations include 15 132kV stations with a conversion capacity of 2,280 megavolt amperes (MVA) and two 400kV stations with a conversion capacity of 4,000 MVA.
- DEWA installed 5km of 400kV overhead transmission lines and 247km of 132 kV ground cables to connect the substations to the main transmission network.
Economy
Jordan and Arab League discuss ways to boost communication ties
Amman, Jordan-- Jordan and the Arab League have discussed ways to deepen coordination on communications. Minister of Government Communication Faisal...
- Faisal Shboul of Jordan noted the "importance" of cooperation between Jordan and the Arab League regarding strengthening and developing the joint Arab media framework
- Ahmed Khattabi of the Arab League praised Jordan's hosting of Arab media forums and meetings through coordination and consultation with the media and communication sector
Economy
Syria hunger rates soar to record highs after decade of war: WFP
Hunger rates in Syria have escalated to record highs after more than ten years of brutal conflict, according to the...
- The UN agency said child and maternal malnutrition are also "increasing at a speed never seen before," in more than a decade of war
- According to WFP executive director David Beasley, if the international community does not step up to help Syrians, it risks facing "another wave of mass migration,"
Economy
An effective governance, risk and compliance system need of the hour, says UAE’s cybersecurity head
There is a close link between cybersecurity and GRC and innovation plays a key role in governance systems. Organizations must...
- There is a need to establish an effective governance, risk, and compliance system as a fundamental requirement for a strong cybersecurity strategy, says a UAE official
- Organizations must first establish a GRC system in order to achieve cybersecurity objectives and create a secure working environment, adds Mohammed Hamad Al-Kuwaiti
Trump’s tariffs on allies, China could shrink global merchandise trade volumes 1% in 2025, warns WTO
After Trump on Wednesday unveiled a blitz of harsher-than-expected levies aimed at countries around the globe, Ngozi Okonjo-Iweala warned the measures...
Economy
Company News
Latest News
GCC countries follow US Federal Reserve’s lead in holding interest rates
Abu Dhabi, UAE – The Central Banks of the United Arab Emirates and Qatar have chosen to maintain their current...
Economy
World Bank to expand climate funding in MENA by $10 billion
Brhane said the World Bank integrated climate into all its work across the MENA region and is on track to...
COP28 UAE
Clean energy sees marked investment rise since 2020
With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is...
Most Read
COP28 UAE
World unites at COP28 to shift away from fossil fuels
Nearly 200 nations in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step...
- Nearly 200 countries in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step in addressing climate change.
- EU climate chief Wopke Hoekstra lauds the historic deal targeting a 43% reduction in emissions by 2030 as a significant breakthrough after decades of discussions.
Business
CBUAE joins the Gulf payments system AFAQ
Abu Dhabi, UAE -Â The Central Bank of the UAE (CBUAE) joined AFAQ Payments System, which is operated by the Gulf...
- Along with the CBUAE, Barclays Bank joined the AFAQ system, becoming the first financial institution operating in the UAE to achieve this step and begin using the system’s services
- To date, the Central Bank of Bahrain, the Saudi Central Bank, and the Central Bank of Kuwait have joined "AFAQ", in addition to a number of commercial banks from these countries
Geostrategy
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...
- Data-driven technologies like the Internet of Things, robotics and artificial intelligence can enhance climate change monitoring.
- The digital transformation has left its mark on the planet through raw material depletion, energy and water use, pollution and waste.