Rudolph Lohmeyer: The Gulf is redefining the global future, not just adapting to it
The Middle East must counter global economic divergence by enhancing regional financial integration to drive collective growth, Rudolph Lohmeyer tells...
Business
FED keeps interest rates unchanged
The Federal Reserve kept interest rates at the current target range of 4.25 percent to 4.50 percent after its January meeting, according...
Interview
Riyadh Expo 2030 bid gathers steam in Davos
More than 50% of the countries with voting rights have pledged public support for the Saudi city’s bid, Fahd Al-Rasheed,...
- More than 50% of the countries with voting rights have pledged public support for the Saudi city’s bid, says Fahd Al-Rasheed, the CEO of the Royal Commission of Riyadh City
- The Saudi capital city is all set to announce its specific Riyadh Strategy in the next four months, which would supercharge the city’s economy
World Economic Forum
Carbon pricing standards key to boost green energy
Public resistance to a carbon tax has prevented many nations from establishing carbon pricing via taxation, but taxation is not...
- In order to reach 2050 emissions reduction targets, trillions of dollars in public and private capital are needed to adopt and scale green energy technologies
- Carbon trading, regulation and different pricing schemes are alternative strategies that countries have used to impose costs for emissions, believe experts
World Economic Forum
European economy to perform better than expected, says Lagarde
The rhetoric has shifted from talk of a recession in the 20-nation club to "a small contraction", she said, with...
- The cautious optimism comes as sky-high energy prices, which soared last year because of the war in Ukraine, have started to fall.
- Lower energy costs have contributed to a drop in eurozone inflation, which peaked at 10.6 percent in October.
Geostrategy
DEWA showcases its sustainability projects to French, Cuban delegations
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer received a high-level...
- The meetings with the French and Cuban delegations were held at DEWA’s stand at the World Future Energy Summit in Abu Dhabi.
- The MD and CEO of DEWA discussed the firm's projects in sustainability, renewable and clean energy.
Economy
MoIAT, Ras Al Khaimah Economic Zone ink pact to promote industrial growth in UAE
ABU DHABI, UAE - The UAE Ministry of Industry and Advanced Technology (MoIAT) and Ras Al Khaimah Economic Zone (RAKEZ)...
- MoIAT and RAKEZ will cooperate in programs and initiatives under the National Strategy for Industry and Advanced Technology, Operation 300bn,
- The two entities will encourage industrial companies to join the UAE Industry 4.0 program and undergo a readiness assessment.
Business
Masdar City, ADGM ink pact to strengthen foreign investment in Abu Dhabi
ABU DHABI, UAE - Masdar City and the Abu Dhabi Global Market (ADGM) Thursday signed a Memorandum of Understanding (MoU)...
- Masdar City and ADGM will work together to attract new investors to their free zones and benefit from each other’s capabilities.
- The two entities will exchange best practices and promote institutional integration.
World Economic Forum
Saudi Arabia becoming a bright spot for the world economy: IMF chief
Princess Reema bint Bandar, Saudi Arabia’s Ambassador to the United States of America, underlined the importance of the Saudi-US relationship.
- Princess Reema bint Bandar, Saudi Arabia’s Ambassador to the United States of America, underlined the importance of the Saudi-US relationship.
- Mohammed bin Abdullah Al Jadaan, Saudi’s Minister of Finance, highlighted the economic reforms ushered in by Saudi Vision 2030, in providing a pathway for the region
World Economic Forum
WEF selects UAE’s Gender Balance Council as knowledge partner
Dubai, UAE--The World Economic Forum (WEF) has selected the UAE's Gender Balance Council (GBC) as a knowledge partner to advance...
- President of the UAE Gender Balance Council affirmed the council's keenness to forge influential partnerships that can help advance gender balance globally
- She said that being selected as the World Economic Forum’s knowledge partner is an endorsement of the UAE’s ability to set a global example for advancing gender balance
World Economic Forum
UAE inks cooperation agreements at WEF
The agreements were unveiled during a high-level meeting between Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs, and Prof....
- The agreements were unveiled during a high-level meeting between Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs, and Prof. Klaus Schwab, WEF Founder
- Klaus also announced WEF’s collaboration with the Government of the United Arab Emirates to organize the Annual Meeting of the Global Future Councils 2023
Economy
CEOs back unlocking Africa free trade area’s $3.4 trillion potential
Davos-Klosters, Switzerland-- African heads of state and global CEOs at the World Economic Forum Annual Meeting backed the launch of...
- The AfCFTA is the largest free trade area in the world, by area and number of participating countries.
- Conceived in 2018, it now has 54 national economies in Africa, could attract billions in foreign investment.
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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
Rudolph Lohmeyer: The Gulf is redefining the global future, not just adapting to it
The Middle East must counter global economic divergence by enhancing regional financial integration to drive collective growth, Rudolph Lohmeyer tells...
Business
Company News
Latest News
US pledges climate aid for cities, more private sector finance
Samantha Power, administrator of the US Agency for International Development, is visiting the COP28 summit where nations are wrangling over...
COP28 UAE
One in five children in rich countries lives in poverty: UNICEF
Sixty-nine million children live in poverty in the world's 40 richest countries, UNICEF said in a report, blasting Britain and...
Economy
Investments strengthen Türkiye-GCC economic ties
The strategic partnerships, including substantial financial support from UAE and Qatar, mark a new era in Türkiye-GCC ties, promising to...
Economy
Most Read
Business
Tawzea, NWC ink pacts
The companies have signed two agreements.
- Tawzea is a 50:50 joint venture between Saudi Arabian Amiantit Co and Sustained Infrastructure Holding Co.
- Under the first contract, Tawzea will operate and maintain the water network in Makkah and its governorates.
Business
Crypto markets witness dynamic asset allocation amid volatility, says study
DUBAI, UAE – Institutional traders (INS) in the crypto markets maintain a conservative approach, with 50 percent of their portfolio...
- In September 2023, institutional traders allocated half of their portfolios to Bitcoin, the report said.
- Retail traders showed a lower percentage of Bitcoin holdings, which could be linked to their higher leverage levels.
Business
KSA offers 30-year tax holiday for global corporations as regional HQ program fuels investment boom
The approaching 1 Jan deadline has seen investments on headquarters hit $242m in the first nine months of 2023 alone,...
- In 2023, 46.7 percent of newly established headquarters operate in the Software & IT services sector.
- The Regional Headquarters (RHQ) Program is an initiative jointly developed by the Ministry of Investment (MISA) and the Royal Commission for Riyadh City.