‘Authenticity, experiences, culture, generational and solo travel to lead tourism trends’
Visit Saudi, experience the warmth, generosity and hospitality of the people, Jerry Inzerillo tells TRENDS in an exclusive interview.
Business
Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer...
World Economic Forum
Economy
Curbing oil dependency Saudi priority, says Economy Minister
Despite its goal of achieving net zero carbon emissions by 2060, the country remains hugely dependent on crude oil exports...
- Soaring crude prices following Russia's invasion of Ukraine allowed Saudi to post in 2022 its first budget surplus in nine years, giving it firepower for economic development.
- And at Davos, Saudi officials announced a joint initiative with the Davos forum organizers to accelerate high-tech innovation in the country via the metaverse.
Economy
Asian markets up on recovery hopes, yen sinks after BoJ decision
Weak earnings from banking titan Goldman Sachs, a jobs warning by Microsoft, and a plunge in manufacturing data highlighted the...
- Hong Kong, Shanghai, Sydney, Singapore, Wellington, Manila, Bangkok and Mumbai were all on the rise, though Seoul and Jakarta dipped
- Yen tumbled from around 128.50 per dollar to more than 131 at one point Wednesday after Bank of Japan decided against further tweaking monetary policy
World Economic Forum
India’s minister calls on rich nations to ‘walk the talk’ on food systems
Davos-Klosters, Switzerland-- India's Minister for New and Renewable Energy Raj Kumar Singh has told developed countries to '"walk the talk"...
- The minister was speaking at a session on “Interplay of Food, Energy and Water” at the 53rd World Economic Forum Annual Meeting
- The actor Idris Elba who was part of the discussion said that countries need a food systems ministry, not just an agriculture ministry
Economy
European investigators quiz Lebanese over central bank chief
Investigators from France, Germany and Luxembourg began hearing witnesses Monday as part of the case of suspected financial misconduct including...
- The long-serving central bank chief is among top officials widely blamed for monetary policies that have led to a Lebanese economic crisis
- Investigators questioned former vice governor Saad Andary on Monday and are also set to hear evidence from Raed Charafeddine, another former vice governor
World Economic Forum
Energy poverty has been accelerating due to war in Ukraine, says Qatar’s foreign minister at WEF 2023
"It is unfair that many developing countries are demanded not to develop their special resources and to be independent in...
- It is unfair that many developing countries are demanded not to develop their special resources and to be independent in the field of energy, says Qatar's foreign minister
- People in the Middle East have been suffering for decades from all violations of the UN Charter, including Palestinian cause and Israeli occupation as well as Syrian issue, he adds
World Economic Forum
Energy security key driver of climate investments
The US Inflation Reduction Act signed by President Biden last year, is the most significant climate pact since the Paris...
- The US Inflation Reduction Act signed by President Biden last year, is the most significant climate pact since the Paris Agreement in 2015, says IEA Executive Director Fatih Birol
- "We are entering the first global energy crisis," says Birol while highlighting the role of Russia in the crisis at a World Economic Forum session
Economy
Abu Dhabi Department of Energy, Statistics Center sign data collaboration pact
ABU DHABI, UAE - Statistics Center – Abu Dhabi (SCAD) and the Abu Dhabi Department of Energy (DoE) have signed...
- The pact was inked on the sidelines of the 15th edition of the Abu Dhabi Sustainability Week 2023.
- This is a part of a strategy to develop an advanced statistical ecosystem which provides high-quality statistics through a decentralized model.
Economy
UAE Ministry of Finance, Dubai Free Zones Council sign MoU on sharing of information
DUBAI, UAE - UAE Ministry of Finance (MoF) Tuesday signed a Memorandum of Understanding (MoU) with the Dubai Free Zones...
- The Ministry of Finance makes efforts to ensure that government entities in the UAE are committed to international tax pacts the country has signed.
- Dubai Free Zones Council will provide the necessary tax information to the ministry of finance.
Science
WEF launches initiative to channelize US$3trn for climate and nature
The World Economic Forum launched the Giving to Amplify Earth Action (GAEA), to help unlock the US$3 trillion of financing...
- Present funding is slow and inadequate, and a new approach is needed to get capital flowing.
- Philanthropic giving is nimble, more tolerant of risks and is driven by values and long-term outcomes rather than quarterly returns.
Economy
China economy grows 3% in 2022: official data
The world's second-largest economy faced historic headwinds as 2022 drew to a close, with exports plunging last month due to a...
- Beijing had set itself a target of 5.5 percent, a rate already much lower than the performance of 2021, when the country's GDP increased more than eight percent
- Tuesday's figures represent China's worst growth figures since a 1.6 contraction in 1976 -- after the coronavirus emerged in Wuhan in late 2019
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
‘Authenticity, experiences, culture, generational and solo travel to lead tourism trends’
Visit Saudi, experience the warmth, generosity and hospitality of the people, Jerry Inzerillo tells TRENDS in an exclusive interview.
Business
Company News
Latest News
Najm inks pact with iot squared
Business
Russian oil price cap partially successful
LONDON, UK - A Western price cap imposed a year ago on Russia's oil has had limited success with Moscow increasingly...
Geostrategy
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...
Business
Most Read
COP28 UAE
Mashreq commits $30bn to UAE banking sector’s sustainable finance by 2030 pledge
DUBAI, UAE -Mashreq bank has been announced as one of the top contributors to the UAE Banks Federation’s (UBF) pledge,...
- UAE Banks Federation had pledged to mobilize US$272 billion (AED 1 trillion) in sustainable finance by 2030 at COP 28 meeting.
- Mashreq’s commitment to facilitating US$30 billion by 2030 builds on years of sustainable finance deployment in the MENA region.
Business
Riyad Bank Saudi PMI down to 57.5 points in November
Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Manager's Index (PMI), formerly S&P Global Saudi Arabia PMI,...
- The index continued to signal a rapid expansion in the non-oil private sector in November,
- Higher raw material prices led to a continuous increase in corporate sales prices, but demand remained strong.
COP28 UAE
Global Fund to allot 70% of its funding to countries hit by climate change
Dubai, UAE--The Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund) announced at COP28 that more than 70% of...
- Peter Sands, of the Global Fund, said the fight against deadly infectious diseases "must go hand in hand with addressing climate change”
- The fund will also invest over US$2.9 billion over the next three years in the 50 most climate-vulnerable countries to strengthen health systems