From healthcare to finance: How AI is reshaping global industries and GCC economies
A study by the World Economic Forum reveals that AI could replace around 85 million jobs by 2025
Science
Building Smart Cities Starts with Listening to People
Successful smart cities address real challenges, like Mexico City’s digitalization of government services.
Economy
Economy
Sharjah lists 4 categories eligible for retirement
The first category, which currently consists of 51 individuals, is for those who have reached the legal retirement age.
- The first category, which currently consists of 51 individuals, is for those who have reached the legal retirement age
- The second category is those who have sufficient funds set aside in the Sharjah Social Security Fund
Economy
Amazon CEO says 18,000 jobs to be cut from workforce
Washington, United States--Amazon announced Wednesday it will cut more than 18,000 jobs from its workforce, citing "the uncertain economy" and the...
- The CEO Andy Jassy said the company's leadership was "deeply aware that these role eliminations are difficult for people, and we don’t take these decisions lightly
- She said some of the layoffs would be in Europe, adding that the impacted workers would be informed starting on January 18
Japan tuna price soars past $270,000 at New Year auction
Michelin-starred sushi restaurant Onodera Group and Japanese wholesaler Yamayuki forked out 36.04 million yen ($273,000) for the 212-kilo bluefin tuna...
- The New Year auction is highly anticipated, and securing the top-priced tuna offers bidders bragging rights
- For years, the top bid came from self-proclaimed "Tuna King" Kiyoshi Kimura, who paid a record $3.1 million in 2019
Economy
Yemeni Govt, IsDB, SPDRY launch economic empowerment program in Yemen
The agreement aims to establish a general framework for activating development in Yemen and addressing challenges related to agricultural production...
- The agreement aims to establish a general framework for activating development in Yemen and addressing challenges related to agricultural production chains
- The program's three main pillars include financing e-commerce solutions, providing consultations to develop value chains and technical skills for SMEs
Economy
Businesses in Qatar post growth in December due to World Cup
Doha, Qatar-- Business activity in Qatar has accelerated in December as the FIFA World Cup went on through the month....
- Wholesale, retail, and service providers in particular registered rapid expansions in activity
- The Qatar Financial Centre PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 450 private sector companies
Economy
500,000 clients in Saudi Arabia use e-notarization of social cases in 2022
The Saudi Notarization Law has transferred a number of such jurisdictions from courts to the notarial e-system.
- The Saudi Notarization law has transferred a number of such jurisdictions from courts to the notarial e-system
- E-notarization provides several services that dispense with paperwork and spare clients the need to visit notarial offices
YEARBOOK 2023
GCC investment in non-oil sectors grew in 2022
GCC countries witnessed the launch of massive economic and development projects in various sectors last year as part of their...
- GCC countries witnessed the launch of massive economic and development projects in various sectors last year as part of their strategy to diversify their economies
- The Kingdom's NEOM introduced the energy and water company Inwa, while the Saudi Ports Authority launched 12 private sector investment opportunities last year
Economy
Germany uses more renewable energy, still falls short of CO2 goal
The setback comes despite a record 4.7 percent drop in energy consumption last year, partly in response to soaring fuel...
- Europe's biggest economy emitted 761 million tons of greenhouse gases last year, just one ton fewer than in 2021 and overshooting the target of 756 million tons.
- The German government had aimed to reduce carbon dioxide emissions by 40 percent by 2020 compared with 1990 levels, but has yet to achieve the feat.
Economy
Dubai launches business group to promote renewable energy usage
The UAE Government will invest AED600 billion ($163.36bn) in renewable energy by 2050 to meet the country's growing energy demand...
- Announced in 2017, the UAE Energy Strategy 2050 aims to reduce the carbon footprint on power generation by 70 percent.
- The UAE has since launched notable initiatives and taken significant steps towards realizing these goals by 2050.
Economy
Dubai announces plan to ‘double’ the size of economy in next decade
The Gulf emirate's ruler, Sheikh Mohammed bin Rashid Al-Maktoum, unveiled in a series of tweets the Dubai Economic Agenda, dubbed...
- The new economic agenda would also add 400 cities to Dubai's list of trading partners, increasing foreign trade in the coming decade by 44 percent to 25.6 trillion dirhams.
- It would also see foreign direct investment in Dubai exceed 650 billion dirhams within 10 years, according to Sheikh Mohammed.
From healthcare to finance: How AI is reshaping global industries and GCC economies
A study by the World Economic Forum reveals that AI could replace around 85 million jobs by 2025
Science
Company News
Latest News
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...
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,...
Business
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,...
COP28 UAE
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COP28 UAE
Global Fund to allot 70% of its funding to countries hit by climate change
Dubai, UAE--The Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund) announced at COP28 that more than 70% of...
- Peter Sands, of the Global Fund, said the fight against deadly infectious diseases "must go hand in hand with addressing climate change”
- The fund will also invest over US$2.9 billion over the next three years in the 50 most climate-vulnerable countries to strengthen health systems
Geostrategy
Putin to visit UAE, Saudi Arabia for talks amid OPEC output cuts
Russian President Vladimir Putin, according to his aide Yuriy Ushakov, will first arrive in the UAE this week and then...
- The announcement of the visit follows the recent OPEC decision to cut oil production by 2.2m bpd in Q1 of 2024
- Saudi Arabia, as the world's largest exporter, will see a reduction of 1 million barrels per day
Economy
‘COP28 makes significant strides in climate action’
"COP28 is a very important conference because what it's doing is not just bringing people together, but it provides certainty...
- World Bank President Ajay Banga emphasizes COP28's significant progress in climate action, lauding its establishment of definitive deadlines for climate commitments.
- The ALTÉRRA fund, with a $30 billion capital, will enhance global climate action, alongside the World Bank's commitment to solar projects in Africa and methane reduction.