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
Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria
Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...
World Economic Forum
Economy
UAE, Saudi Arabia provide Pakistan $4bn lifeline to tide over its economic woes
The UAE pledged to roll over $2 billion in debt due over the next two months, with an additional $1...
- The UAE agreed to roll over $2 billion in debt due over the next two months, with $1 billion more pledged during Prime Minister Shehbaz Sharif's visit
- The Saudi Fund for Development (SFD) signed an agreement in Islamabad to fund $1bn worth of oil imports on deferred payment
Creation of new jobs for Emiratis remains key priority for the govt, says UAE minister Abdulrahman Al Awar
The UAE's Ministry continues to develop the country’s model in economic development through partnership between the public and private sectors...
- Thanks to the Nafis programme during 2022, there was an unprecedented 70 percent increase in the number of Emiratis working in the private sector, says UAE's minister
- The UAE's Ministry continues to develop the country’s model in economic development through partnership between the public and private sectors, the minister adds
Economy
Morocco planning agency scales down growth forecast
According to secretary general of the government's High Commission for Planning (HCP) Ayache Khellaf, assuming recovery of agricultural activities, the...
- Agriculture is a key sector in the kingdom's economy, one of Africa's most dynamic
- Last year, the North African country saw its worst drought in four decades
Economy
UAE to roll over $2 billion Pakistan’s debt, loan $1 billion more
The agreement comes as Pakistan grapples with a major foreign exchange crisis, holding enough reserves to pay for just three...
- The agreement comes as Pakistan grapples with a major foreign exchange crisis, holding enough reserves to pay for just three weeks of imports.
- Pakistan Prime Minister Shehbaz Sharif arrived in the UAE earlier Thursday for talks with top Gulf officials to seek help for the battered economy.
Geostrategy
Iraq’s Prime Minister heads to Germany for energy talks
BAGHDAD, IRAQ - Iraq's Prime Minister Mohammad Shia al-Sudani left Thursday for Berlin to meet with German Chancellor Olaf Scholz and...
- Despite its oil riches, Iraq is beset by crumbling infrastructure, endemic corruption and decades of war.
- Dependent on its powerful neighbor Iran for much of its energy needs, Baghdad seeks to diversify its sources of gas and electricity supply.
Economy
US inflation falls to lowest level in over a year
Consumer inflation in the United States slipped in December to the lowest level in over a year, government data showed,...
- The Federal Reserve hiked its benchmark lending rate at a pace unheard of since the 1980s, in hopes of cooling the world's biggest economy.
- The consumer price index in December 2022 rose 6.5 percent from a year ago, the smallest increase since October 2021.
Science
Global actions should not derail energy transition, says WEF
GENEVA, SWITZERLAND– The current energy crisis is driving inflation, slowing economic growth, creating social turmoil and the world should not...
- The WEF report said that steps such as increasing production of electricity from coal or broad-based consumption subsidies, risk derailing energy transition.
- The report proposes a framework for a secure energy system to guide countries and policy-makers.
Geostrategy
UAE takes part in financial inclusion meet under India G20 Presidency
ABU DHABI, UAE - The UAE participated in the Global Partnership for Financial Inclusion (GPFI) meeting in the Finance Track...
- The meeting was held to discuss the Global Partnership for Financial Inclusion work plan for 2023.
- G20 members, invited countries, GPFI members, and international organizations such as the World Bank and OECD attended the meeting.
Business
TSMC posts Q4 profit of US$9.7bn
The Taiwanese company predicts slowing sales for 2023.
- TSMC operates the world's largest silicon wafer factories and produces some of the most advanced microchips.
- It is regarded as a global economic bellwether because so many of its chips are in such a wide array of devices.
Geostrategy
Clean energy manufacturing to hit $650 billion by 2030: IEA
The global market for key mass-manufactured technologies including solar panels, wind turbines, electric vehicle batteries, heat pumps and electrolyzers for...
- The world is at the "dawn of a new industrial age" of clean energy technology that will create millions of jobs, IEA said.
- Related jobs in clean energy manufacturing will more than double from six million to nearly 14 million by 2030, the agency said.
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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
Company News
Latest News
Bitcoin soars past $40,000 on optimism for US trading approval
FTX, the world's second-biggest crypto exchange, dramatically went under last year, and its boss Sam Bankman-Fried faces up to 110...
Net-zero targets must include fossil fuel ‘phase-out’: monitor
According to a new report from Net Zero Tracker, at least 150 countries have committed to a net-zero emissions target...
COP28 UAE
Innovations spur Qatar’s petrochemical sector growth
"A fair, safe, and sustainable transition to low-carbon energy is crucial for protecting the planet and fostering economic growth. Achieving...
Economy
Most Read
Economy
Is 2030 the finish line for the Gulf Railway Project?
The Gulf Railway aiming for completion by 2030, will link GCC nations with a comprehensive rail network, marking a new...
- The Gulf Railway aiming for completion by 2030, is set to link GCC nations with a comprehensive rail network, marking a new era in regional transportation and economic integration.
- Saudi Arabia's railway expansion, an integral part of the Gulf Railway Project, boosts GCC connectivity and trade, with parallel progress in the UAE, Qatar, Oman, and Kuwait.
COP28 UAE
MENA region can create 10m jobs by 2050 via climate action, says ILO
DUBAI, UAE - International Labor Organization (ILO) Deputy Regional Director for the Arab States Peter Rademaker has confirmed that the...
- The trend towards renewable energy has helped to create 13.7 million jobs in the sector worldwide.
- The ILO is participating in COP28 to ensure that climate change efforts include to monitor the impact on jobs.
Economy
Morocco gardening school cultivates hope for marginalised youth
Launched by the Islamic Culture Foundation in 2018, Bouregreg Med-O-Med school provides free training to dropouts and other marginalized youths...
- Bouregreg Med-O-Med school in Morocco aims to raise awareness about climate change while promoting the social inclusion of marginalized young people
- The school has a nursery of local plants that are better adapted to water stress, which is crucial for Morocco as the country suffers its worst drought in almost 40 years