Exclusive: ADP’s Nela Richardson on how AI is reshaping the global workforce
Davos Switzerland - The rapid adoption of AI and automation is redefining labor markets, reshaping industries, and transforming skills globally,...
Economy
Oman launches New Nation Brand at Davos to enhance global presence
Muscat, Oman – Oman on Tuesday launched its New Nation Brand at the World Economic Forum in Davos in an...
Economy
Sharjah Consultative Council reviews districts and villages department’s work
SHARJAH, UAE - The Sharjah Consultative Council (SCC), in its seventh session, held as part of the fourth regular session...
- The SCC meeting, at its headquarters in Sharjah, was chaired by Ali Mehd Al Suwaidi, Chairman of the Council.
- Sheikh Majid bin Sultan Al Qasimi, Member of Sharjah Executive Council, Head of DVAD represented the department in the session.
Videos
Gulf states stare at slower GDP growth in 2023
The world, according to the latest World Bank report, may be edging toward a global recession this year. Here is...
- The world may be edging toward a global recession in 2023 and a string of financial crises in emerging market and developing economies, according to the World Bank.
- The head of the IMF, Kristalina Georgieva, also talked of a tougher 12 months ahead and expects a third of the world to experience a recession.
Science
DEWA completes 77 percent work in Hatta Water Reservoir
DUBAI, UAE - DEWA has completed 76.8 percent work on the water reservoir project in Hatta. The project has a...
- The project is being built at a cost of approximately US$23 million and is expected to be completed in April 2023.
- The structural foundation works for all facilities and reservoirs are 100 percent complete,
Economy
Qatar’s foreign reserves post 9.6% rise in December to US$59.31bn
Doha, Qatar--Qatar Central Bank's (QCB) international reserves and foreign currencies liquidity increased last December by 9.6 percent on an annual...
- The figures issued by QBC showed an increase in the bank's official international reserves standing at $44.31 billion by the end of last December
- QCB's official international reserves recorded a growth of 3.6 percent, compared to that of November 2022, which at that time amounted to $42.77 billion
Economy
China’s foreign exchange reserves swell to US$3.127trn
Beijing, China--China's foreign exchange reserves rose to US$3.1277 trillion at the end of December 2022, up 0.33 percent from a...
- The foreign exchange regulator attributed the increase in foreign exchange reserves to the combined impact of currency translation and asset price changes
- Beijing will adopt industry, region and enterprise-specific measures to secure the sound development of key industries and boost coordinated regional development
Economy
Egypt posts 10% jump in exports to US$3.32bn
Cairo, Egypt--The Engineering Export Council (EEC) of Egypt has announced that the sector’s exports increased by 10% to $3.32bn from...
- Exports of the electrical and electronic sectors climbed by 2%, while exports of transportation equipment increased by 14%, metal forming saw an impressive gain of 96%
- Egypt’s economy was hit hard after Russia’s invasion of Ukraine last February unsettled global investors and led them to pull billions out of the North African country
YEARBOOK 2023
KSA, UAE lead GCC in food security initiatives
Reduction in hunger, provision of food security and improved nutrition, and promotion of sustainable agriculture contribute to sustainable development in...
- Reduction in hunger, provision of food security and improved nutrition, and promotion of sustainable agriculture contribute to sustainable development in the region, says an expert
- Thevolume of investment in the food industry in the Kingdom has exceeded SAR 88.191 billion through more than 1183 factories. the country's official data highlights
Business
Dubai records over US$2.72bn in weeklong real estate transactions
DUBAI, UAE - A total of 2,173 real estate transactions worth over US$2.72 billion (AED 10 billion) were conducted during...
- A total of 2,173 real estate transactions were conducted during the week ending January 6, 2023.
- A total of 270 plots were sold for US$612 million, 1,903 apartments and villas were sold for US$1.33 billion.
Business
Aldar, Diamond Developers launch sustainable city project in Abu Dhabi
The project is underpinned by a central green spine that runs the length of the community, featuring parks, lakes, and...
- The project is underpinned by a central green spine that runs the length of the community, featuring parks, lakes, and biodomes
- Available for buyers of all nationalities, Yas Island will feature condominiums and townhouses located in 10 intimate clusters
Economy
SEWA announces 149% rise in emiratisation in engineering jobs
The company revealed its plan to raise the Emiratisation percentage to 73 percent of the total engineering jobs by the...
- The company revealed its plan to raise the Emiratisation percentage to 73 percent of the total engineering jobs by the end of 2023
- It plans to employ 170 jobseekers from the emirate, including 130 national engineers, and 40 for administrative positions
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Exclusive: ADP’s Nela Richardson on how AI is reshaping the global workforce
Davos Switzerland - The rapid adoption of AI and automation is redefining labor markets, reshaping industries, and transforming skills globally,...
Economy
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DIB to buy stake in TOM Group
Geostrategy
Latest News
Astra Tech to launch financial services powered by AI in 2024, says CEO
ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first...
Business
UAE, Philippines to cooperate in digital sector with focus on data centers
Abu Dhabi, UAE - The UAE and Philippines signed an agreement to create a framework for investment in the digital...
Economy
UAE a pioneer in renewable energy: Palau President
“COP28 is attracting significant interest from various participating countries and will serve as an important forum for climate enthusiasts. This...
Economy
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Business
Tech titan Microsoft wins observer seat at OpenAI
SAN FRANCISCO, US - Microsoft, the tech titan that has invested billions of dollars in ChatGPT creator OpenAI, has been given...
- The nomination was shared in a memo to OpenAI staff that was later posted to the company's blog.
- Microsoft will join former US Treasury Secretary and political power broker Larry Summers, who was added last week.
Business
CBUAE, Islamic finance organizations discuss sustainable practices
ABU DHABI, UAE - The Central Bank of the United Arab Emirates (CBUAE) hosted several events with Islamic finance infrastructure...
- Participants in the events included officials and experts from international organizations, financial institutions and Islamic financial bodies.
- They aimed to support and advance sustainable Islamic finance while expanding the reach of sustainable finance globally.
Economy
Saudi Arabia, Russia extend voluntary oil cuts until March 2024
Saudi Arabia will extend its voluntary cut of 1 million barrels per day. The latest Saudi cut is in addition...
- Russia meanwhile said on Thursday it would deepen its voluntary oil supply cut to 500,000 barrels per day (bpd) and extend it until the end of the first quarter of 2024.
- Along with its OPEC+ oil partners, Russia has been holding back its oil output and exports in a bid to boost global prices.