Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
Analysis
Oil, gas, and renewables: How global policies and markets are reshaping energy in 2025
The Trump administration’s trade tariffs and withdrawal from the Paris Agreement pose major risks to global economic growth and energy...
Economy
Economy
GCC leads from the front as MENA’s digital economy moves toward $500bn mark on the back of ecommerce
Non-Gulf countries' contributions to the digital economy in the region will increase to more than 35 percent during this time,...
- Non-Gulf countries' contributions to the digital economy in the region will increase to more than 35 percent during this time, says a latest report.
- The region's digital economy will grow from around US$100 billion in 2022 to US$500 billion in 2030, adds the report by RedSeer Strategic Consulting
Business
DEWA is an organizing partner in Dubai International Project Management Forum 2023
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that it is participating in the 8th Dubai International Project...
- On the second day of the DIPMF, Saeed Mohammed Al Tayer, MD and CEO of DEWA, will participate in a panel discussion.
- DEWA will present practices and experiences implemented in Dubai, which has become a global benchmark for best practices.
Business
Twitter sued over ‘unpaid rent’ on London office
Twitter's British landlord said it is taking the social media to court for not paying rent on its London offices....
- Elon Musk, the billionaire CEO of Tesla and SpaceX, bought Twitter for US$44 billion in October 2022.
- Musk sacked half of the staff and reportedly stopped paying rent for office space to try to raise funds after taking on massive debt to buy the firm.
Business
DEWA launches plan for fast approval of electricity connections
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) launched the 'OWNEK' awareness initiative to help its accredited contractors and...
- The OWNEK initiative will save the contractors and consultants time and effort and speed up the workflow.
- The initiative includes a series of awareness sessions and detailed videos in Arabic and English.
Economy
ADAFSA’s Auwn Program wins Global Business Excellence Award
ABU DHABI, UAE - Abu Dhabi Agriculture & Food Safety Authority (ADAFSA) has just been announced as the winner of...
- Auwn Community Program assisted in accomplishing ADAFSA's Corporate Social Responsibility goals by implementing several community initiatives.
- These include blood donation drives, support for people of determination and cancer patients, community and environmental development initiatives.
Business
RAK first in world to achieve 19 ISO 50001 certifications
Ras Al Khaimah, UAE -- The government of Ras Al Khaimah became the first in the world to achieve the...
- The accomplishment was announced at the World Future Energy Summit 2023, held as part of Abu Dhabi Sustainability Week (ADSW).
- A comprehensive retrofit of government buildings was carried out between 2018 and 2022, through energy performance contracting.
Economy
Bahrain exports $2.98bn worth of products during Q4 2022
The value of imports rose by 0.3 percent, reaching $3.75 billion during the quarter compared to $3.72 billion in Q4...
- The value of imports rose by 0.3 percent, reaching $3.75 billion during the quarter compared to $3.72 billion in Q4 2021
- The top 10 countries accounted for 69 percent of the value of imports, while the remaining countries 31 percent
Economy
Gross banks’ assets jump to US$988 billion in November: CBUAE
Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) announced that gross banks’ assets, including bankers’ acceptances, increased...
- Gross credit increased due to 0.8 percent rise in domestic credit, overriding the 1.7 percent reduction in foreign credit
- Domestic credit grew because of 0.4 percent, 2.0 percent and 0.7 percent climbs in credit to the government sector, public sector (government related entities) and private sector
Economy
S&P Global and Moody’s confirm Qatar’s strong credit rating
Fitch and Capital Intelligence agencies also continued to rate Qatar's sovereign rating at the level of AA with a stable...
- Fitch and Capital Intelligence agencies also continued to rate Qatar's sovereign rating at the level of AA with a stable outlook, which reflects Qatar's strong creditworthiness
- Benjamin Young, a representative of S&P Global, revealed that it uses six basic pillars, each with grades, economic elements, and percentages in its rating of countries
UN faults climate change for jump in human trafficking risks
The UN drugs agency noted that an increase in cases of human trafficking had been observed in Bangladesh and the...
- The continuing war in Ukraine is also another risk factor for increased human trafficking, UNODC said
- The UN report is based on data from 141 countries collected from 2017 to 2020, and the analysis of 800 court cases
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
Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
Analysis
Company News
Latest News
Faster hydrogen production needed for energy transition: WTO
Abu Dhabi, UAE-- In order to speed up the energy transition there must be a fast increase in the production...
Economy
UAE to tie up with ACSAD to achieve zero neutrality by 2050
Dubai, UAE--The Arab Centre for the Studies of Arid Zones and Dry Lands (ACSAD) will partner with the UAE's Ministry...
COP28 UAE
Underinvestment haunts youth-led climate solutions
“Our appeal is that children and youth are integral to any discussion, debate, negotiation in a meaningful, participatory, and intentional...
Economy
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Geostrategy
Joint ministerial committee meets US secretary of state
Washington, US – A committee of the Joint Arab-Islamic Extraordinary Summit under the chairmanship of Prince Faisal bin Farhan bin...
- A ministerial committee led by Saudi foreign minister holds discussions with US Secretary of State.
- The committee asked the US to influence Israel and called for an immediate ceasefire in Gaza.
Geostrategy
Nadia Calvino is now European Investment Bank head
BRUSSELS, BELGIUM - Margrethe Vestager is preparing to return to her day job as the European Union's competition chief after a...
- After the EU selected Nadia Calvino, Margrethe Vestager, 55, said she would "resume" her duties at the European Commission, the Eu's executive arm.
- Vestager's star has waned in recent years following a series of setbacks in EU courts against some of the world's biggest companies, including Apple.
COP28 UAE
OPEC implores members to oppose any COP28 deal targeting fossil fuels
Dubai, UAE--The head of OPEC has urged members of the oil cartel to reject any deal at UN climate talks...
- The OPEC chief urged members to reject any text or formula that "targets energy i.e. fossil fuels rather than emissions"
- On Friday, negotiators released an updated text that still includes various options for exiting oil, gas and coal