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
Building an anticipatory governance strategy for an increasingly risky world
Anticipatory governance is crucial in navigating today’s risks. While AI tools enhance forecasting, early warning does not always lead to...
Economy
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
Economy
Sponge cities an answer to Gulf water woes
China, Singapore and Hong Kong are planning to convert 80 percent of their cities into sponge areas by 2030 for...
- A sponge city is a nature-based solution that uses the landscape to retain water at its source, slow down water flow and clean it throughout the process
- According to specialized construction reports, China was one of the first countries to resort to this technology, followed by Singapore and Hong Kong
Business
Jordanian-Bahraini business forum explores investment opportunities
AMMAN, JORDAN - The Jordan Chamber of Industry (JCI) organized the Jordanian-Bahraini Business Forum in Bahrain's capital, Manama, to increase...
- The Jordan Chamber of Industry stressed on the role of the private sector as a driver of the economy.
- The JCI described the level of trade between Jordan and Bahrain as "below aspirations," amounting to less than US$300 million.
Economy
ADJA delivers training program on drafting contracts, legal memos
ABU DHABI, UAE - The Abu Dhabi Judicial Academy (ADJA) has conducted a specialized training program on drafting and writing...
- This was done to develop the skills and competencies of practitioners engaged in the legal profession.
- The program will help the professionals to improve the quality of their service.
Economy
Oil prices rebound after opening the year down over 9%
Brent crude futures gained 59 cents to $78.43 a barrel, while US West Texas Intermediate crude futures rose 69 cents...
- Brent crude futures gained 59 cents to $78.43 a barrel, while US West Texas Intermediate crude futures rose 69 cents to $73.53 a barrel
- Over the previous two sessions, Brent and WTI's declines of more than 9 percent were the biggest two-day losses at the start of a year since January 1991
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
Company News
Latest News
Investments strengthen Türkiye-GCC economic ties
The strategic partnerships, including substantial financial support from UAE and Qatar, mark a new era in Türkiye-GCC ties, promising to...
Economy
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...
Geostrategy
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Business
KSA offers 30-year tax holiday for global corporations as regional HQ program fuels investment boom
The approaching 1 Jan deadline has seen investments on headquarters hit $242m in the first nine months of 2023 alone,...
- In 2023, 46.7 percent of newly established headquarters operate in the Software & IT services sector.
- The Regional Headquarters (RHQ) Program is an initiative jointly developed by the Ministry of Investment (MISA) and the Royal Commission for Riyadh City.
COP28 UAE
Mashreq commits $30bn to UAE banking sector’s sustainable finance by 2030 pledge
DUBAI, UAE -Mashreq bank has been announced as one of the top contributors to the UAE Banks Federation’s (UBF) pledge,...
- UAE Banks Federation had pledged to mobilize US$272 billion (AED 1 trillion) in sustainable finance by 2030 at COP 28 meeting.
- Mashreq’s commitment to facilitating US$30 billion by 2030 builds on years of sustainable finance deployment in the MENA region.
Business
Riyad Bank Saudi PMI down to 57.5 points in November
Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Manager's Index (PMI), formerly S&P Global Saudi Arabia PMI,...
- The index continued to signal a rapid expansion in the non-oil private sector in November,
- Higher raw material prices led to a continuous increase in corporate sales prices, but demand remained strong.