OECD lowers global growth projections over tariffs, uncertainty
"We are navigating troubled waters," said the OECD's chief economist Alvaro Santos Pereira as he summed up the world's economic...
Economy
Electric, hybrid and aerial to entirely transform city life: IIT Madras expert
Easier commutes with faster, quieter, and eco-friendly vehicles would reduce travel times significantly and reduce stress for urban residents, says...
Interview
YEARBOOK 2023
MENA professionals eye new skills, better prospects
Despite the challenges of the digital transition in some MENA countries and the rising unemployment, about 90% of professionals in...
- Despite the challenges of the digital transition in some MENA countries and the rising unemployment, about 90 percent of professionals in the region remain enthusiastic about 2023.
- After the pandemic, most employees have high hopes that remote hiring will grow in the coming years and prefer working for businesses that provide some degree of remote work
Geostrategy
UAE, UK sign agreement to cooperate in the energy sector
ABU DHABI, UAE - UAE Ministry of Energy and Infrastructure signed a Memorandum of Understanding (MoU) with UK Department for...
- The agreement aims to exchange information, knowledge, expertise and studies in the field of energy
- The MoU aims to enhance strategic and technical cooperation in the energy sector, develop renewable energy technologies including regulatory frameworks and incentives.
Market Report
Gulf markets, except Kuwait and Qatar, end higher
The Saudi market's general index, TASI, rose 1.19%, Dubai Financial Market 0.47%, Abu Dhabi Stock Market Vadax 15 index 0.133%...
- Fifteen sectors rose on the Saudi Stock Exchange, led by banks at 2.37 percent, capital goods 1.64 percent, energy 0.93 percent.
- In the Dubai Stock Exchange, the industry sector increased by 1.2 percent, followed by the real estate sector by 0.9 percent, the consumer goods sector by 0.44 percent,
Science
Global conference on Pharmaceutical Technologies concludes in Dubai
DUBAI, UAE - The 28th edition of the Dubai International Pharmaceutical Technologies Conference and Exhibition (DUPHAT) 2023 concluded. The three-day...
- The largest-ever edition of DUPHAT, the 2023 event brought together more than 1,100 exhibiting companies.
- The event also discussed on how countries in the region can collaborate to enhance partnerships in the pharmaceutical industry.
Business
DEWA organized 157 health, safety training sessions for employees in 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has organized 157 training courses and awareness sessions on occupational health...
- DEWA organized its 20th Internal Health and Safety Week which featured various activities in aspects of occupational health and safety.
- DEWA continues to upgrade the expertise of its staff to reach the highest levels of excellence and quality through ongoing training.
China imports, exports plunge in December: customs
Exports fell 9.9 percent year-on-year to $30.6 billion, China customs said, their second consecutive month of decline and the biggest...
- The world's second-largest economy is still reeling from the effects of years of its zero-Covid policy, which hammered businesses and supply chains
- China began lifting most of the hardline measures at the beginning of last month, but the country has since seen a massive spike in Covid-19 infections
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.
OECD lowers global growth projections over tariffs, uncertainty
"We are navigating troubled waters," said the OECD's chief economist Alvaro Santos Pereira as he summed up the world's economic...
Economy
Company News
Latest News
Localization in focus as KSA raises military spending
Saudi Arabia's 2024 budget hikes military spending to $71 billion for industry localization and modernization, targeting 50% equipment spending localization...
Economy
European Union fails to agree on budget reforms
Brussels, Belgium - EU finance ministers failed to seal a deal on an overhaul of the bloc's spending rules on Friday,...
Economy
Battles continue across Gaza as UN holds vote on ceasefire
Israeli forces maintained a relentless bombardment and ground invasion across Gaza two months after Hamas's deadly attack sparked a war...
Geostrategy
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Economy
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,...
- Xi urged measures to boost the economy, saying that "the development situation facing the country is complex.
- "It is necessary to focus on accelerating the construction of a modern industrial system, expand domestic demand, (and) prevent and defuse risks," said Xi
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...
- The Iranian industry minister also announced his country’s readiness to jointly implement key industrial projects with Oman
- Head of the Central Bank of Iran Mohammad-Reza Farzin hailed any measure that helps boost monetary cooperation between the two countries
Business
Chinese firm announces $5bn investment in solar power chain in UAE
Dubai, UAE - Trina Solar, a Chinese renewable energy company, announced on Thursday plans to invest US$5 billion to create...
- Katherine Gao, Trina Solar CEO, described COP28 as an inspiring platform for leading companies to showcase their smart solutions in the fields of renewable energy
- The event, she added, provides an opportunity to exchange solutions with industry leaders and governments to integrate environmental practices across the supply chain