‘Middle East is a promising area with a lot of initiatives going on in the UAE, Saudi Arabia’
Beyond AI, new technologies will leverage artificial intelligence to drive the next phase of the Fourth Industrial Revolution, Alphaeus Hanson,...
Economy
WEF25: Saudi delegation calls for nations to put “greater good” first
The international community must prioritize cooperation and dialogue to overcome the challenges of a fragmented world, the Saudi delegation to...
Economy
Economy
Turkish exports to Africa exceed $21bn during 2022
Turkish Exporters' Assembly pointed out that Turkish exports to African countries during 2022 increased by 12.3 percent, compared to 2021.
- Turkish Exporters' Assembly pointed out that Turkish exports to African countries during 2022 increased by 12.3 percent, compared to 2021
- The assembly added that Turkey's exports value to European Union amounted to $93.6 billion, $32.8 billion to Middle East and $21.8 billion to Africa
Economy
Abu Dhabi deploys drones to plant a million mangrove seeds
Abu Dhabi, UAE--The Environment Agency of Abu Dhabi (EAD) has planted one million mangrove seeds using drones as part of...
- The Abu Dhabi Mangrove Initiative was announced in February 2021 during Prince William's visit to the UAE
- EAD and its key stakeholders during the past ten years have planted more than 15 million mangroves along the coast of Abu Dhabi
Economy
Oil gains 3% on China demand hike, concerns about Russian supplies
Brent crude rose 50 cents, or 0.6%, to $83.17 per barrel by 0135 GMT, while US West Texas Intermediate crude...
- Brent crude rose 50 cents, or 0.6%, to $83.17 per barrel by 0135 GMT, while US West Texas Intermediate crude also rose 50 cents, or 0.7%, to $77.91 per barrel
- Previous oil prices witnessed a decline after the release of data revealing an unexpected increase in US crude and fuel inventories, which raised concerns about fuel demand
Economy
UAE appoints ADNOC chief to lead COP28 climate talks
Dubai, United Arab Emirates--The head of the United Arab Emirates' national oil company was named as president of this year's COP28...
- The UAE's official new agency said that Sultan Ahmed al-Jaber, head of Abu Dhabi National Oil Company (ADNOC), will be the first CEO to take the role at the UN summit
- The next edition of climate talks will take place in Dubai, the UAE's business, trade and tourism hub, in November and December
YEARBOOK 2023
Europe looks at GCC for LNG supplies amidst crisis
The year 2022 witnessed several deals involving Gulf nations and leading natural gas consumer countries that seek to secure their...
- The year 2022 witnessed several deals involving Gulf nations and leading natural gas consumer countries that seek to secure their LNG supplies in both near and distant future.
- In November-2022, Qatar and China signed one of the largest ever LNG deals inking a USD 60 Bn LNG supply deal for 27 years.
Economy
Saudi WEF delegation to highlight progress under Vision 2030
It aims to enhance global cooperation and design joint solutions to today’s geopolitical, social, economic, and human development challenges. Saudi’s...
- Prince Faisal bin Farhan Al Saud, Minister of Foreign Affairs of the Kingdom will head the Saudi delegation.
- During their participation at WEF23, the delegation will outline progress achieved under Saudi Vision 2030.
Economy
Qatar GDP grew 4.3 percent in third quarter of 2022
Doha, Qatar-- Qatar's quarterly gross domestic product (GDP) at constant prices increased by 4.3 percent year on year in the...
- When compared to Q2 of 2022 revised estimate, the quarterly GDP recorded an increase of 3.6 percent at QR 168.879 billion, QNA said.
- The nominal gross value added (GVA) estimate of Mining and Quarrying activities is estimated at QR 105.896 billion in Q3 2022.
Economy
CBUAE issues new guidance to curb money laundering, terror financing
The guidance, which comes into effect immediately, will assist LFIs’ understanding of risks and effective implementation of their statutory AML/CFT...
- The new guidelines set by the Central Bank of the UAE apply to banks, finance companies, exchange houses and insurance companies, agents and brokers
- The apex bank's guidance discusses the use of digital ID systems by licensed financial institutions to address their customer due diligence obligations
Business
Uniqlo parent company to boost Japan wages up to 40%
The increases will vary across staff categories, with newly arrived employees likely to see a bump of less than 20...
- The salary bump will apply to around 8,400 full-time employees out of the 56,000 working for parent company Fast Retailing in Japan
- The move comes with Japanese inflation at 3.7 percent in November, the highest figure since 1981, and follows calls from PM Fumio Kishida for higher wages
Economy
UN bemoans ‘intolerable’ loss of 5 million children in 2021
United Nations, United States--An estimated five million children under the age of five died in 2021, the United Nations said Tuesday,...
- Nearly 2.3 million deaths in 2021 occurred in the children's first month, mostly due to being premature or from complications related to childbirth
- The global under-five mortality rate fell 50 percent since 2000, while mortality rates in older children and youth dropped 36 per cent
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‘Middle East is a promising area with a lot of initiatives going on in the UAE, Saudi Arabia’
Beyond AI, new technologies will leverage artificial intelligence to drive the next phase of the Fourth Industrial Revolution, Alphaeus Hanson,...
Economy
Company News
Latest News
UAE president and UN chief discuss ‘collective action’ to address climate challenges
Dubai, UAE-- UAE President Sheikh Mohamed bin Zayed and UN Secretary General António Guterres discussed the importance of the conference...
COP28 UAE
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...
Economy
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...
COP28 UAE
Most Read
COP28 UAE
COP28 unveils oil and gas ‘Decarbonisation Charter’ to speed up climate action
Dubai, UAE--The COP28 Presidency Saudi Arabia have launched a landmark Oil and Gas Decarbonisation Charter (OGDC), a global industry charter...
- Around 50 companies, representing more than 40 percent of global oil production, so far have signed on to the OGDC
- COP28 President Dr. Sultan Al Jaber said several oil companies have adopted net-zero 2050 targets for the first time
Economy
COP28 ignites key climate change talks in Arab world
"The event focuses on transitioning the energy sector, demonstrating how strategic investments can foster prosperity without solely relying on fossil...
- Colombia's President Gustavo Petro emphasizes the significance of COP28 for addressing climate issues.
- Petro stresses on the transition from traditional energy sources to sustainable alternatives to save the Earth.
Geostrategy
UAE voted to Category-B membership in International Maritime Organization
LONDON, UK - The UAE has been re-elected to the Council of the International Maritime Organization (IMO) in the Category...
- The UAE received the highest number of votes, following comprehensive efforts and an intensive election campaign leading up to the elections.
- The country plays an active role in strengthening the national maritime sector and contributing to the growth of the global maritime industry.