Global workforce transformation by 2030: WEF predicts 78 million new jobs amid disruptive changes
The widening skills gap challenges employers, with over 59% of the workforce needing reskilling while millions risk redundancy due to...
Economy
UAE labour market transforms with AI revolution and growing demand for high-skill professions
The country is among the most attractive markets for skilled global professionals and talent, thanks to its competitive advantages, including...
Economy
Economy
OPEC Fund approves over $500 million in new global development support
The 15 new projects approved reflect the OPEC Fund’s launch of a US$1 billion Food Security Action Plan and the...
- The 15 new projects approved reflect the OPEC Fund’s launch of a US$1 billion Food Security Action Plan and the adoption of its first Climate Action Plan earlier this year
- New engagements will support infrastructure development and investments to improve communities in the Fund’s partner countries around the world
Economy
MoHRE discusses ‘Emiratisation’ program with UAE recruitment agencies
Dubai, UAE--The Ministry of Human Resources and Emiratisation (MoHRE) has held a meeting with a number of recruitment agencies in...
- The meeting was held to implement the UAE resolution and avoid the penalties that will be imposed on companies that are not committed to achieving the required targets
- It discussed the benefits and support packages for establishments that comply with the legislation
Economy
World Bank cuts China growth forecasts on Covid woes, property crisis
In a statement, the World Bank slashed its forecast to 2.7 percent from 4.3 percent predicted in June. It also...
- After years of sudden lockdowns, mass testing, long quarantines and travel restrictions, China this month abruptly abandoned its zero-Covid policy
- Beijing has sought to mitigate low growth with a series of easing measures to provide support, slashing key interest rates and pumping cash into the banking system
Economy
Saudi Arabia, Azerbaijan ink 6 agreements, MoU
The agreements included the establishment of the Saudi-Azerbaijan Joint Business Council.
- The agreements included the establishment of the Saudi-Azerbaijan Joint Business Council
- The MoU was signed between the Saudi Fund for Development and the Azerbaijan Ministry of Economy
Economy
CBUAE projects real GDP to grow by 7.6% in 2022
In its Q3 review, the apex bank attributed the upward review to the robust performance of some non-oil sectors, including...
- In its Q3 review, the apex bank attributed the upward review to the robust performance of some non-oil sectors, including tourism, hospitality, real estate and manufacturing
- The review expected the non-oil GDP to grow by 6.1 percent in 2022, against 4.3 percent previously, with the oil GDP to expectedly grow by 11 percent this year
Economy
Banking, realty sectors drive UAE financial markets
Dubai real estate market recorded 476 sales transactions worth AED1.17 billion, in addition to 92 mortgage deals of AED181.95 million.
- Dubai real estate market recorded 476 sales transactions worth AED1.17 billion, in addition to 92 mortgage deals of AED181.95 million on Monday
- The Central Bank of the Emirates has raised its estimates of real GDP growth in the country to 7.6 percent at the end of the current year 2022
Economy
Saudi Arabia, UAE lowest-risk investment havens in the ‘riskiest’ Middle East and Africa region
The region was ranked the riskiest by the Global Risk Report Quarterly Update. But the GCC region stood out, offering...
- In Africa, Morocco, Botswana and South Africa were the low-risk investment destinations, in that order, as far as the macroeconomic risks are concerned.
- Syria, Yemen, and Libya were on the list of the highest-risk countries in the third quarter.
Geostrategy
Iran says Jordan summit is a good opportunity for nuclear talks
TEHRAN, IRAN - Iran's foreign minister said Monday that a summit to take place this week in Jordan will be a...
- On-off talks to revive the deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), started in April last year.
- A UN nuclear watchdog team led by IAEA deputy director-general was on a one-day visit to Iran.
Geostrategy
Sharjah, Belgium discuss enhancing ties
SHARJAH, UAE - A Belgian delegation met with Sheikh Majid Al Qasimi, Director of the Department of Government Relations (DGR)...
- The two parties agreed on organising a Sharjah delegation visit to Belgium for strengthening bilateral relations.
- the Belgian Ambassador to the UAE expressed his interest in visiting universities in Sharjah to discover more partnership opportunities.
Geostrategy
UAE takes part in 17th Asia Pacific Regional Meeting of ILO
SINGAPORE - The UAE has participated in the 17th Asia Pacific Regional Meeting of the International Labor Organization (ILO) in...
- Over 500 representatives of governments, labor organizations and companies from 33 countries took part in the meeting.
- The meeting discussed labor priorities and ways to promote employment in the Asia Pacific.
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Global workforce transformation by 2030: WEF predicts 78 million new jobs amid disruptive changes
The widening skills gap challenges employers, with over 59% of the workforce needing reskilling while millions risk redundancy due to...
Economy
Company News
Latest News
World Bank anticipates 4.5% growth in UAE’s non-oil economy in 2023
Riyadh, Saudi Arabia - The World Bank has projected a 3.4% growth in the real Gross Domestic Product (GDP) of...
Economy
European banks lack transparency on green finance: NGO
ShareAction said banks amplify "green credentials to their customers and shareholders" but there is a "structural" lack of transparency on...
Business
UAE approves official holidays calendar for govt, private sectors for 2024
UAE, Dubai - UAE has approved the year 2024 official holidays calendar for both public and private sectors. As part of...
Economy
Most Read
Business
Northvolt says it develops new sodium-ion battery
Stockholm, Sweden - Battery group Northvolt said on Tuesday it had developed a new sodium-ion battery, a technology using less critical...
- Sodium-ion batteries are viewed as a cheaper and in some respects safer alternative to the lithium-ion batteries.
- While sodium-ion technology has been around for decades, it has lagged lithium-ion batteries in performance.
Economy
Tax havens only half the story, says OECD
Paris, France - Tax havens are blamed for lower public revenues elsewhere as they lure away multinational firms but a study...
- Half the profits booked by multinationals benefitting from low tax rates were from countries that have high rates but offer various tax breaks to attract investments.
- "Many jurisdictions typically considered (to be) 'high tax' offer various incentives which can lead to substantially reduced tax rates," said the report further.
Business
DTC sets IPO offer price range
Final offer price will be fixed through a book-building process
- The company announced that the offer price range had been set between US$0.49 (AED1.80) and US$0.5 (AED1.85) per share.
- This implies a market capitalization at the time of listing of between US$1.2 billion (AED4.5 billion) and US$1.25 billion (AED4.6 billion).