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
Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
Analysis
Economy
Iraq PM affirms support for agriculture, industry, tourism and trade
Baghdad, Iraq--The Iraqi Prime Minister Mohammed S. Al Sudani has stressed the need for economic reform and supporting the sectors...
- The PM said during his visit today to the Ministry of Industry and Minerals, that economic reform is a prelude to social reform
- He directed the auditing of industrial development permits and sponsoring small and medium enterprises, due to their role in forming major projects
Economy
Gas prices fall to lowest level in Europe since Ukraine war
EU nations have adopted a mechanism to cap natural gas prices, but analysts say it will likely have only a...
- Gas prices have been falling since August, hitting 73 euros on Monday -- 50 percent down from a month ago and the lowest level since before the war on February 21
- European nations filled up their gas storage facilities and launched campaigns to encourage consumers to save on energy during the winter
Economy
Singapore economy grows more than expected in 2022
Growth in the fourth quarter came in at 2.2 percent, sharply down from 4.2 percent in July-September, according to advance...
- Exports for computer chips and other products have been hit by softer global demand caused by surging inflation and sharp increases in interest rates
- Research house Capital Economics said it expects exports to fall further on expectations the global economy would enter a recession this year
Economy
FMT upholds DFSA decision to slap Arif Naqvi with US$135.56m fine
Almost a year after the Dubai Financial Services Authority (DFSA) imposed a heavy penalty on Arif Naqvi, the founder of...
- DFSA had held Naqvi responsible for a series of actions during his time as chief of Abraaj, including using investor funds as working capital requirements
- The FMT came into play after Naqvi referred the DFSA verdict to the tribunal
Business
Shunned by youth, Morocco cosmetic oil craft faces uncertain future
A dozen women, sitting on the floor of a workshop inland from Essaouira, a port town on Morocco's Atlantic coast,...
- Morocco produces around 5,640 tonnes of argan oil annually, according to official figures, around 40 percent of it for export
- Argan is so important to the region between the towns of Essaouira and Agadir that in 1998 UNESCO declared a biosphere reserve in the area
Geostrategy
UNESCO praises Saudi Arabia for its success in e-education governance
RIYADH, SAUDI ARABIA - The United Nations Educational, Scientific and Cultural Organization (UNESCO) has praised the achievements of Saudi Arabia...
- UNESCO said that Saudi Arabia's National E-Learning Center is an example to be followed at the international level.
- The National E-Learning Center supports the development of governance procedures in the electronic education and training sector.
Economy
European gas prices fall to lowest level since record high in 2022
A mild winter has enabled countries to tap less gas from stocks that were built up in anticipation of cuts...
- Gas exports by Russian energy giant Gazprom to the European Union and Switzerland fell by 55 percent last year, the company said Monday.
- Europe was previously Gazprom's main export market but supplies have been drastically reduced because of sanctions following Russia's offensive in Ukraine in 2022.
Economy
Transport employees in Tunisia stop work citing late salary
TUNIS, TUNISIA - Tram and bus workers in the Tunisian capital staged a strike over delays in salaries and the lack...
- The strike is the latest in a string of similar actions as Tunisia grapples with a grinding economic crisis
- The North African nation is struggling with debts of more than 100 percent of gross domestic product
Business
Regional maritime sector event to be held in the UAE
DUBAI, UAE - Seatrade Maritime Logistics Middle East (SMLME) is set to take place from May 16 to 18 2023,...
- The region’s maritime sector will come together and discuss a wide range of topics concerning the industry's future.
- The event’s relevance to the sector and its potential impact on the region’s economy has helped it gain the support of major industry players.
Science
Abu Dhabi introduces Mobile BSL-3 Laboratory
ABU DHABI, UAE - Abu Dhabi Public Health Center (ADPHC) has introduced the first of its kind mobile BSL-3 (Biosafety...
- The BSL-3 mobile laboratory will enhance the UAE capital's infectious disease preparedness through swift, safe and accurate testing of communicable diseases.
- The mobile laboratory will be accessible across four sites in Abu Dhabi.
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
Company News
Latest News
DIB to buy stake in TOM Group
Geostrategy
Saudi Arabia, Turkiye strengthen collaboration in agriculture, water management
RIYADH, SAUDI ARABIA – The Kingdom's Minister of Environment, Water and Agriculture Eng. Abdurrahman bin Abdul Mohsen Al-Fadhli signed a...
Geostrategy
Turkey’s inflation surges to 62 percent in November
The latest batch of data show higher borrowing costs starting to slow down consumption -- a key goal of the...
Economy
Ready to work with developing nations for green future: China
Chinese Vice Premier Ding Xuexiang said his country has promoted the targets for carbon peak and carbon neutrality, adding that...
COP28 UAE
Most Read
Bitcoin soars past $40,000 on optimism for US trading approval
FTX, the world's second-biggest crypto exchange, dramatically went under last year, and its boss Sam Bankman-Fried faces up to 110...
- The digital asset has skyrocketed this year, gaining nearly 150 percent, with expectations growing that US regulators will allow the creation of exchange-traded funds
- The currency remains well below its record value of almost $69,000 in 2020, but the rally marks a recovery following the high-profile scandals and collapses that rocked the crypto
COP28 UAE
Net-zero targets must include fossil fuel ‘phase-out’: monitor
According to a new report from Net Zero Tracker, at least 150 countries have committed to a net-zero emissions target...
- The report looked at nations, cities and large companies committed to any kind of net-zero target
- African and European companies were relatively well represented in the phase-out plans
Economy
Innovations spur Qatar’s petrochemical sector growth
"A fair, safe, and sustainable transition to low-carbon energy is crucial for protecting the planet and fostering economic growth. Achieving...
- Qatar's petrochemical industry sees continuous growth since QAPCO's establishment.
- QatarEnergy and Chevron Phillips join hands to build two massive ethane cracking units.