New-Age Growth Comes Home to the GCC
The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading...
Opinion
Future of Humanity – TRENDS’ yearly Special Issue now online
Dubai, UAE -- TRENDS’ yearly Special Issue is out. This year’s edition, titled Future of Humanity, explores key global shifts...
Geostrategy
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.
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.
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New-Age Growth Comes Home to the GCC
The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading...
Opinion
Company News
Latest News
Dubai faces warehouse shortage, says new report
DUBAI, UAE — The supply of under construction warehouse stock in Dubai’s industrial market stands at 1.56 million square feet according...
Business
Chinese president says Beijing’s economic recovery at ‘critical stage’
Beijing, China - President Xi Jinping said that China's economic recovery is at a "critical stage", state broadcaster CCTV reported Friday,...
Economy
Iran, Oman call for using national currencies in mutual trade
Tehran, Iran – Iran and Oman have signed two memoranda of understanding to boost bilateral cooperation and using their national...
Economy
Most Read
Economy
Renewable energy, sustainability drive GCC growth
The GCC's transformation towards sustainability encompasses economic growth, job creation, and resource management, shaping a resilient and green future for...
- The GCC's transformation towards sustainability encompasses economic growth, job creation, and resource management, shaping a resilient and green future for the region.
- Investments in solar and wind power in Saudi Arabia and the UAE mark a clean energy shift, reshaping consumer behavior and the financial sector, creating new jobs and industries.
Economy
Saudi Arabian GDP declines by 4.4 percent in Q3 2023
RIYADH, SAUDI ARABIA - Saudi Arabia’s real gross domestic product (GDP) fell by 4.4 percent year-on-year (YoY) in the third...
- The Kingdom’s GDP at constant prices reached US$191 billion (SAR 719.09 billion) in the third quarter of 2023,
- The real seasonally adjusted GDP eased 3.2 percent quarter-on-quarter (QoQ) in the three-month period.
Economy
COP28 strong push for climate action in Arab region
"The UNDP has spent approximately $1 billion in the Arab region for integrated development solutions driven by national priorities and...
- Launch of the Loss and Damage Fund at COP28 marks a crucial step in supporting climate action in the Arab region.
- UNDP's significant investment of $1bn in the Arab region focuses on integrated development aligned with national priorities.