Microsoft retires Skype, the online voice and video call pioneer
San Francisco, United States - Microsoft on Friday announced it was retiring Skype, the online voice and video call pioneer...
Science
Asian markets advance after Wall St gains, US Postal Service U-turn
Asian markets rose Thursday, tracking gains on Wall Street and following the US Postal Service's U-turn on a ban on...
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.
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
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Microsoft retires Skype, the online voice and video call pioneer
San Francisco, United States - Microsoft on Friday announced it was retiring Skype, the online voice and video call pioneer...
Science
Company News
SVC inks pact with IMPACT46
Business
Latest News
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
KSA offers 30-year tax holiday for global corporations as regional HQ program fuels investment boom
The approaching 1 Jan deadline has seen investments on headquarters hit $242m in the first nine months of 2023 alone,...
Business
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,...
COP28 UAE
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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
Geostrategy
Putin to visit UAE, Saudi Arabia for talks amid OPEC output cuts
Russian President Vladimir Putin, according to his aide Yuriy Ushakov, will first arrive in the UAE this week and then...
- The announcement of the visit follows the recent OPEC decision to cut oil production by 2.2m bpd in Q1 of 2024
- Saudi Arabia, as the world's largest exporter, will see a reduction of 1 million barrels per day
Economy
‘COP28 makes significant strides in climate action’
"COP28 is a very important conference because what it's doing is not just bringing people together, but it provides certainty...
- World Bank President Ajay Banga emphasizes COP28's significant progress in climate action, lauding its establishment of definitive deadlines for climate commitments.
- The ALTÉRRA fund, with a $30 billion capital, will enhance global climate action, alongside the World Bank's commitment to solar projects in Africa and methane reduction.