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
Stock markets rise on fresh hopes for Trump’s tariff approach
Investor sentiment has been jolted in recent weeks by fears that the president's hardball policies could deal a painful blow...
Business
Economy
Hosting COP28 gives important message to the world: UK minister
Abu Dhabi, UAE-- The hosting of events like the Abu Dhabi Sustainability Week and the upcoming COP28 demonstrate the UAE's...
- Grant Shapps, UK’s Secretary of State for Business, said British companies, such as BP، are helping the UAE with the transition to clean energy
- He said the UAE has invested already in wind power in the United Kingdom, which has built one of the world’s biggest wind power projects
Economy
Power outage across Pakistan brings life to a halt
Islamabad, Pakistan--A massive power breakdown in Pakistan on Monday affected most of the country's more than 220 million people, including in...
- The country's electricity distribution system is a complex and delicate web, and a problem in one section of the grid can lead to cascading breakdowns across the country
- A similar breakdown in January 2021 had plunged the entire country into darkness after fault occurred in southern Pakistan tripping the transmission system of the country
Business
Qatar and EU discuss ways to enhance economic and trade ties
Doha, Qatar-- Qatar and European Union have discussed means to enhance economic and commercial relations in a meeting between Qatar...
- The two discussed the private sector's role in activating trade and investment exchange.
- Al Kuwari noted that there are mega Qatari investments in a number of European countries such as France, Germany, and others.
Economy
Inflation in Kuwait rose 3.15 percent in 2022
The Kuwait Central Statistical Bureau said that inflation rate rose 0.17 percent in December on a monthly basis.
- The Kuwait Central Statistical Bureau said that inflation rate rose 0.17 percent in December on a monthly basis
- Record number of the food and beverages went up by 7.48 percent, compared to December 2021
Economy
UAE committed to promote sustainability in all sectors
“The UAE will strive to make COP28 one of solidarity and action. It will listen, engage, and build partnerships with...
- The declaration of 2023 as the ‘Year of Sustainability’ reflects the UAE’s commitment to promote sustainability in all sectors, says says Special Envoy for Climate Change
- The move will pave the way for the country's efforts to accelerate global climate action ahead of COP28, adds Dr Sultan bin Ahmed Al Jaber
YEARBOOK 2023
Strong economies help GCC survive global chaos
Robust monetary policies curtail the impact of geopolitical tensions, energy crisis, worsening inflation rates and market volatility on the region...
- Robust monetary policies curtail the impact of geopolitical tensions, energy crisis, worsening inflation rates and market volatility on the region during 2022, a report highlights
- Successful hosting of international events in 2022 such as Expo Dubai in the UAE, the World Cup in Qatar, and COP27 in Egypt, also contributed to GCC's strong performance
Economy
Iran vows to address high inflation, currency devaluation
Iran's economy has been subject to increasing pressure with fresh sanctions imposed by Western countries over the authorities response to...
- Addressing MPs, Raisi tried to reassure Iranians over the economy which faces a serious crisis due primarily to US sanctions.
- At the end of December, the governor of the central bank resigned after the rial lost around 30 percent of its value in two months.
Geostrategy
CBUAE, Egyptian Banking Institute discuss training, cooperation
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Egyptian Banking Institute (EBI) which is under...
- CBUAE and Egyptian Banking Institute reviewed the prospects to enhance cooperation and exchange information.
- They also discussed supporting professional capabilities-building and expertise development.
Economy
Sharjah Consultative Council approves DVA policy recommendations
SHARJAH, UAE - The Sharjah Consultative Council (SCC) has approved its recommendations regarding the Districts and Villages Affairs Department (DVA)...
- The recommendations touched on the importance of providing social and psychological specialists in the suburb councils.
- They also called for expanding the establishment of a suburb festival to include various cities and regions of Sharjah.
Economy
Investments in Jordan industrial estates rise 19 percent in 2022
AMMAN, JORDAN - Investments in industrial estates in 2022 hit US$4.2 billion (JD3 billion), an increase of 19 percent compared...
- Jordan Industrial Estates Company said that 27 of the new investments were in the service sector, with a growth rate of 26 percent.
- The remaining 147 new investments were in the industrial sector, with a growth rate of 7 percent over the previous year, JIEC said.
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
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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,...
COP28 UAE
COP28 last chance to keep 1.5C target alive: John Kerry
US climate envoy issued the warning after COP28 president Sultan Al Jaber proposed a draft deal that did not include...
COP28 UAE
PIF sets up agri and ecotourism firm Dan Company
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced on Monday the establishment of Dan Company, specializing in agritourism...
Business
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Economy
Oman’s revenues drop by 17 percent in nine months of 2023
Muscat, Oman -- Oman's revenues for the nine-month period of 2023 declined 17 percent to 9.8 billion riyals ($25.45 billion),...
- During the nine-month period, the budget recorded a financial surplus of about RO 830 million, compared to a surplus of RO 208 million in the same period of 2022.
- Net gas revenues until the end of last October decreased by 43 per cent to reach RO 734 million compared to RO 3 billion and 51 million.
COP28 UAE
Global health crisis looms amid climate change: WEF
Global coalition and trillions of dollars are required to prevent escalating human deaths due to climate change, Dr. Shyam Bishen...
- Global coalition and trillions of dollars are required to prevent escalating human deaths due to climate change, Dr. Shyam Bishen of the World Economic Forum tells TRENDS.
- He emphasizes a strong link between climate change and human health, underscoring the critical role of private sector engagement in combating related health issues.
Business
UAE green bonds and sukuk issuances touch US$4.20bn
According to Mohamed Ali Al Shorafa, Chairman of the SCA Board, the issuance of green bonds and Sukuk is one...
- The chairman of the SCA board applauded the UAE for its commitment to sustainability
- He highlighted the SCA's decision to exempt companies wishing to list from registration fees