World’s tiniest pacemaker is smaller than grain of rice
Paris, France -- Scientists said Wednesday they have developed the world's tiniest pacemaker, a temporary heartbeat regulator smaller than a...
Science
Lebanon cabinet appoints Karim Souaid central bank governor
Born in 1964, Souaid officially takes over after embattled former chief Riad Salameh's term expired in July 2023 with no...
Geostrategy
Business
Boeing posts Q4 loss of US$634m
Firm confirmed its 2023 outlook amid strong aviation demand.
- Boeing said its commercial plane business was dented by "abnormal costs".
- It said "labor instability and supply chain disruption" weighed on its defense, space and security unit.
Geostrategy
Iraqi PM to visit France for energy and security talks
BAGHDAD, IRAQ - Iraqi Prime Minister Mohammed Shia al-Sudani will travel to France on Thursday for energy and security talks with...
- Sudani said he wants to "activate the agreements" between oil-rich Iraq and France "particularly in the transport, energy and investment sectors".
- French giant TotalEnergies in 2021 signed a $10 billion contract with Baghdad, but work on the multiple projects is yet to begin.
Geostrategy
Lebanese protest as local currency hits new low
Lebanese protesters blocked roads and burnt tires near the central bank in Beirut as the local currency plummeted to a...
- Lebanese banks have imposed draconian restrictions on withdrawals since the country's economy collapsed three years ago.
- Dozens of protesters gathered Wednesday near the central bank headquarters amid heavy deployment of security forces.
Business
DEWA, SAP senior management discuss cooperation in Dubai
DUBAI, UAE - Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), received Christian Klein,...
- DEWA MD and CEO highlighted the firm's projects and programs to anticipate and shape the future in line with the UAE Centennial 2071.
- He emphasized on the importance of exchanging global best practices and experiences between the two sides.
Business
ASML posts yearly profit of $6.1bn
The profit in year 2022 is 4.4 percent lower than in 2021.
- The maker of lithography machines that print microchips, said it expects strong growth for 2023, with net sales rising more than 25 percent.
- The United States restricted exports of semiconductor technology to China last year and wants the Netherlands and Japan to follow suit.
Economy
MENA IPO Summit discusses ‘regulatory structure for capital markets’
Dubai, UAE-- On the second day of the MENA IPO Summit Dubai 2023, many experts called for the creation of...
- The summit, held at the Museum of the Future, aims to mobilize the various players of the initial public offering (IPO) value chain by providing a platform for dialogue
- Investment experts and companies also discussed environmental, social and governance (ESG) practices
Economy
India-UAE partnership summit calls for economic partnerships to drive development plans
India’s Minister of Commerce and Industry Piyush Goyal highlighted the various prospects of cooperation including leveraging UAE and India’s startup...
- India’s Minister of Commerce and Industry Piyush Goyal highlighted the various prospects of cooperation including the rupee-dirham trade, and India’s startup ecosystems
- President and CEO of Dubai Chambers Mohammad Ali Rashid Lootah revealed that the number of new Indian companies that joined Dubai Chamber of Commerce in 2022 exceeded 11,000
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.
World’s tiniest pacemaker is smaller than grain of rice
Paris, France -- Scientists said Wednesday they have developed the world's tiniest pacemaker, a temporary heartbeat regulator smaller than a...
Science
Company News
Latest News
Public-private partnerships play key role in environmental finance, says EIF official
DUBAI, UAE – Public-private partnerships have the potential to play a significant role in mobilizing private financing for environmental solutions,...
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...
Economy
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...
Business
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‘Tech solutions help make food practices sustainable’
UAE's launch of Food Innovation Hub emphasizes the government's eagerness to innovate and collaborate for sustainable food systems, WEF's Tania...
- UAE's proactive role in launching Food Innovation Hub emphasizes the government's eagerness to innovate and collaborate for sustainable food systems, says WEF's Tania Strauss.
- The success of UAE's Food Innovation Hub hinges on public-private sector collaboration, with ongoing work to define roles and ecosystems, adds the head of food and water at WEF.
Economy
UAE witnesses 7% rise in youth green skills in 2023
“We will work to create about 135,000 jobs in the field of green transition worldwide, and therefore ensuring that there...
- The World Bank's Green Initiative dedicates 45% of its annual financing to climate-related projects, with a strong emphasis on developing green skills.
- The apex global bank has a focused plan to create 135,000 jobs globally in the green transition sector, says Safaa El Tayeb El-Kogali of the World Bank.
COP28 UAE
Protecting nature may avert $2.7trn global economic losses: World Bank
Dubai, UAE-- Protecting nature could avert global economic losses by 2030 of US$2.7 trillion per year, or 2.3 percent annually,...
- Hickey said low-income countries may lose nearly 10 percent of their GDP annually by 2030 if select ecosystem services, such as forests, fisheries collapse
- She said that the loss of nature is at the core of central development challenges, mainly health, inequality, climate change, food security and energy