Real challenges of digital transformation
Blockchain enhances security and efficiency by decentralizing data storage, and reducing fraud, David Boast tells TRENDS in an exclusive interview.
Economy
A new era of economic growth and productivity with AI
The technology will likely automate millions of jobs, Mark J. Penn, a US businessman, political strategist, and author tells TRENDS...
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
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
Real challenges of digital transformation
Blockchain enhances security and efficiency by decentralizing data storage, and reducing fraud, David Boast tells TRENDS in an exclusive interview.
Economy
Company News
Latest News
Dubai faces warehouse shortage, says new report
DUBAI, UAE — The supply of under construction warehouse stock in Dubai’s industrial market stands at 1.56 million square feet according...
Business
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,...
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...
Economy
Most Read
Economy
Renewable energy, sustainability drive GCC growth
The GCC's transformation towards sustainability encompasses economic growth, job creation, and resource management, shaping a resilient and green future for...
- The GCC's transformation towards sustainability encompasses economic growth, job creation, and resource management, shaping a resilient and green future for the region.
- Investments in solar and wind power in Saudi Arabia and the UAE mark a clean energy shift, reshaping consumer behavior and the financial sector, creating new jobs and industries.
Economy
Saudi Arabian GDP declines by 4.4 percent in Q3 2023
RIYADH, SAUDI ARABIA - Saudi Arabia’s real gross domestic product (GDP) fell by 4.4 percent year-on-year (YoY) in the third...
- The Kingdom’s GDP at constant prices reached US$191 billion (SAR 719.09 billion) in the third quarter of 2023,
- The real seasonally adjusted GDP eased 3.2 percent quarter-on-quarter (QoQ) in the three-month period.
Economy
COP28 strong push for climate action in Arab region
"The UNDP has spent approximately $1 billion in the Arab region for integrated development solutions driven by national priorities and...
- Launch of the Loss and Damage Fund at COP28 marks a crucial step in supporting climate action in the Arab region.
- UNDP's significant investment of $1bn in the Arab region focuses on integrated development aligned with national priorities.