Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria
Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...
World Economic Forum
There’s nothing more interlinked and global as international financial markets: Swiss president
In an exclusive interview with TRENDS, Swiss President Karin Keller-Sutter emphasized the critical role of financial stability in safeguarding global...
Economy
Economy
Iraq looks to make football comeback with Gulf Cup
Basra, Iraq--Iraq on Friday welcomed football teams from across the region for the Gulf Cup, ending nearly three decades of...
- The tournament in the southern city of Basra brings together eight teams, with Friday's opening match seeing the host nation take on Oman
- Tournament organizers have undertaken major infrastructure projects to help Iraqis forget their years in the football wilderness
US job gains robust in December as wage growth slows
While a strong labor market may fuel optimism that the world's biggest economy can stave off a major downturn despite...
- Overall, employers added 223,000 workers, down from the revised 256,000 figure in November, though still higher than analysts expected
- Unemployment has hovered between 3.5 percent and 3.7 percent in recent months, and the latest figure is the lowest since February 2020
Economy
Sustainable innovations to help Gulf industries reduce CO2 emissions, says report
Seven industries - advanced manufacturing services, retail, banking, energy, healthcare, consumer products, and automotive - are poised to be the...
- Seven industries - advanced manufacturing services, retail, banking, energy, healthcare, consumer products, and automotive - are poised to be the key gainers, says a report
- Banks can influence how companies and consumers act, invest, and address their environmental obligations through their product offerings, highlights the Bain & Company
Geostrategy
Jordan imported 3.65m barrels of Iraqi oil from September 2021 to December 2022
AMMAN, JORDAN - Jordan's total imports of Iraqi oil between September 2021 to December 2022 amounted to 3.65 million barrels,...
- The Jordanian Minister said that the Kingdom purchases Iraqi crude oil to meet part of its annual oil needs at a rate of 10,000 barrels per day.
- As per the MoU, the Kingdom provides basin tanks for transporting crude oil from the Kirkuk depot in Iraq to the Jordanian oil refinery in Zarqa.
Market Report
GCC stocks end the week in decline after a few days of gain
Abu Dhabi Securities Exchange finished 2022 with a gain of almost 20 percent, making it the highest performer among GCC...
- Despite declines in oil and financial firms, the Saudi stock index closed Thursday (January 5, 2023) slightly up.
- On Monday (January 2, 2023), the First Abu Dhabi Bank contributed to a 0.6 percent point increase in the Abu Dhabi Securities Exchange index.
Market Report
Stocks mostly rise ahead of key US jobs data
Stock markets mostly advanced as traders awaited key US jobs data and after news of falling inflation in the eurozone....
- The Fed along with central banks worldwide last year kickstarted a string of aggressive rate hikes to battle decades-high inflation.
- Official data showed that annual inflation in the eurozone dropped for a second month in a row, to 9.2 percent in December.
Economy
World food prices hit record high in 2022, rice becoming costlier
Food prices soared to a monthly record high in March after Russia invaded agricultural powerhouse Ukraine, a major supplier of...
- FAO price index, which tracks the monthly change in international prices of a basket of food commodities, fell to 132.4 points in Dec, a 1.9 percent drop from Nov.
- But the index was 14.3 percent higher overall in 2022 compared to the previous year as it reached an all-time high of 143.7 points.
Business
DEWA wins award at Global Excellence Assembly Awards 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded with the Global Excellence Assembly Awards 2022, based...
- DEWA is the only entity worldwide to win this category in the second round of the award this year.
- DEWA scored 94 percent in the evaluation conducted by the International Council of Excellence according to the Baldrige model.
Economy
Implementation of Dubai Economic Agenda ‘D33’ to begin immediately
Teams across Dubai’s government entities will work in close collaboration with the private sector to achieve the various targets of...
- Teams across Dubai’s government entities will work in close collaboration with the private sector to achieve the various targets of the agenda over the next 10 years
- The D33 Agenda paves the way for a new phase of Dubai’s development journey driven by ideas, innovation, enterprise and new technologies
Economy
Saudi Arabia, Clarity AI ink MoU to develop sustainability in private sector
Under the MoU terms, the Ministry of Economy and Planning and Clarity AI will work together to explore potential areas...
- Under the MoU terms, the Ministry of Economy and Planning and Clarity AI will work together to explore potential areas of cooperation, such as using big data
- They are discussing cooperation in training Saudi cadres to understand and analyze sustainability data, and participate in events and activities of common interest
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Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria
Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...
World Economic Forum
Company News
Latest News
Gulf leads the charge in green mobility revolution
In the heart of the GCC, a transformative shift towards 'Green Mobility' is underway, driven by a commitment to environmental...
Economy
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...
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...
Business
Most Read
Economy
Fed’s inflation gauge slows in October as energy, goods prices drop
Washington, United States - A key inflation measure used by the US Federal Reserve to set interest rates eased further last...
- The annual personal consumption expenditures (PCE) price index rose 3.0 percent in October, down 0.4 percentage points from a month earlier
- On a monthly basis, PCE inflation was virtually flat in October, while core PCE rose by 0.2 percent from September, the Commerce Department said Thursday
Geostrategy
MoHRE asks over 12,000 private firms to meet Emiratization targets
DUBAI, UAE – The Ministry of Human Resources and Emiratization (MoHRE) has notified over 12,000 private companies with 20-49 workers...
- Companies with 20-49 workers will be required to hire one UAE national in 2024 and another one in 2025.
- This step is expected to create around 12,000 jobs annually for UAE nationals in 2024 and 2025 in various sectors.
Geostrategy
Debt Settlement Fund waives default loans worth over US$107m in UAE
DUBAI, UAE - The Citizens Debts Settlement Fund announced the exemption of 1,244 citizens from their debts with a total...
- The settlement of debts is subject to specific and strict laws and standards regarding the quality of loans and their areas of expenditure.
- Officials of banks, financial institutions and national companies expressed their pleasure and pride in taking part in this national initiative.