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
Smart cities lead GCC’s IoT boom: NEOM and Smart Dubai in focus
IoT applications are transforming critical sectors such as transportation, where connected vehicles improve traffic management, utilities where smart grids enhance...
Economy
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
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 -Â 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.
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
Company News
SVC inks pact with IMPACT46
Business
Latest News
First Movers Coalition emerges as top advocate of climate-friendly technologies
Dubai, UAE-- Since its launch two years ago, the First Movers Coalition (FMC) has become the world's largest private sector...
COP28 UAE
US pledges climate aid for cities, more private sector finance
Samantha Power, administrator of the US Agency for International Development, is visiting the COP28 summit where nations are wrangling over...
COP28 UAE
One in five children in rich countries lives in poverty: UNICEF
Sixty-nine million children live in poverty in the world's 40 richest countries, UNICEF said in a report, blasting Britain and...
Economy
Most Read
Geostrategy
Russian oil price cap partially successful
LONDON, UK - A Western price cap imposed a year ago on Russia's oil has had limited success with Moscow increasingly...
- The cap was jointly imposed on December 5, 2022 by the European Union, Australia and the Group of Seven rich countries.
- Initially successful, it lost its impact once President Vladimir Putin's Russia found new buyers for its oil and new tankers to deliver it.
Business
Tawzea, NWC ink pacts
The companies have signed two agreements.
- Tawzea is a 50:50 joint venture between Saudi Arabian Amiantit Co and Sustained Infrastructure Holding Co.
- Under the first contract, Tawzea will operate and maintain the water network in Makkah and its governorates.
Business
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...
- In September 2023, institutional traders allocated half of their portfolios to Bitcoin, the report said.
- Retail traders showed a lower percentage of Bitcoin holdings, which could be linked to their higher leverage levels.