EXCLUSIVE: AI agents to reshape the future of work, says CEO Automation Anywhere
Davos, Switzerland: AI agents are set to revolutionize the way businesses operate, with tasks being divided into autonomous, AI-assisted, and...
Business
UAE’s satellite, developed by Emirati engineers, launched from California to aid disaster relief and earth observation
With cutting-edge features like high-resolution imaging and electric jet propulsion, MBZ-SAT will enhance environmental surveillance, disaster management, and infrastructure monitoring,...
Science
Economy
AI-powered mobile app for crop disorder detection launched in Dubai
Called Dr. Nabat, the application is a result of collaboration between ICBA and the University of Barcelona.
- Called Dr. Nabat, the application is a result of collaboration between ICBA and the University of Barcelona
- The application is designed to aid smallholder farmers and extension specialists in spotting crop disorders at early stages
Economy
IMF says more financing needed for climate change fund
IMF chief Kristalina Georgieva has regretted the shortage of funds needed to help low-income countries tackle the impacts of climate...
- She said that the IMF expects more members to commit resources "so we don't end up having to ration support for countries"
- WTO Director-General Ngozi Okonjo-Iweala stressed the importance of supply chains when it comes to building resilience in developing countries
Economy
UAE economy maintains momentum in 2022: OPEC
The report cited recent economic indicators suggesting strong growth has been maintained in most activities.
- The report cited recent economic indicators suggesting strong growth has been maintained in most activities
- The tourism sector, which accounts for around 6% of the UAE’s GDP, experienced strong growth, the report said
Economy
Wealthy nations oppose new biodiversity fund
Montreal, Canada-- Creating a new global fund for biodiversity -- a core demand of developing countries at UN talks in Montreal...
- COP15 draft targets include a cornerstone pledge to protect 30 percent of the world's land and seas by 2030, eliminating harmful fishing and agriculture subsidies
- Dozens of countries, led by Brazil, India, Indonesia and African nations, are demanding financial subsidies of at least $100 billion a year until 2030
Economy
Qatar posts budget surplus of $8bn in third quarter
Doha, Qatar - Qatar posted a budget surplus of QR 30 billion ($8 billion) for the third quarter of 2022,...
- Total revenues for this quarter amounted to $22 billion, of which $21 billion came from oil and gas
- Total expenditures in the quarter amounted to $14 billion, of which $4 billion was spent on salaries and wages
Economy
KSA, UAE lead GCC growth amidst global woes
Saudi Arabia's GDP witnesses 9.3 percent increase in the third quarter of this year as the rally in oil prices...
- The International Monetary Fund expects Saudi economy to expand by 7.6% in 2022
- The UAE's economy is experiencing sustained momentum in 2022, says OPEC
Business
Sudan inks US$6bn UAE deal for new Red Sea port
Sudan signed an initial US$6 billion deal led by United Arab Emirates' AD Ports Group and Invictus Investment to build...
- The Abu Amama port, to be built north of the existing key hub of Port Sudan, will include an industrial zone.
- The signing came a week after Sudan's military and civilian leaders inked an initial accord aimed at ending the crisis since last year's military coup.
Business
Bank of China lists $300m bonds
The bank's Fitch A ratings bonds were listed on Nasdaq Dubai.
- The new listing highlights Nasdaq Dubai's significant role in strengthening links between the capital markets in Dubai and China.
- Bank of China's Dubai branch has issued the 2025-maturing bonds at a yield of 4.84 percent.
Economy
UAE Financial Restructuring Committee, World Bank discuss bankruptcy law
ABU DHABI, UAE - Members of the Consultative Council of UAE's Financial Restructuring Committee (FRC) has met with experts from...
- The meeting was held virtually and sought to discuss the latest updates on amendments to the bankruptcy law.
- The meeting discussed the proposed amendments to the bankruptcy law in terms of public policy.
Geostrategy
Governments of UAE, Egypt launch ‘Egypt Services Center’
ASWAN, EGYPT - The governments of the UAE and Egypt inaugurated the Egypt Services Center in the Aswan Governorate, which...
- The inauguration is part of the strategic partnership between the two countries in government modernization.
- The center will adopt a smart system to provide over 30 individual government services.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
EXCLUSIVE: AI agents to reshape the future of work, says CEO Automation Anywhere
Davos, Switzerland: AI agents are set to revolutionize the way businesses operate, with tasks being divided into autonomous, AI-assisted, and...
Business
Company News
Latest News
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
MENA’s $2trn construction boom boosts sustainability
With innovative technologies and a focus on reducing emissions, this transformation could position the region as a global leader in...
Economy
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...
Business
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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).
Opinion
AI, Industry 4.0 transform Middle East manufacturing
"As we look ahead, the manufacturing landscape is set to continue evolving, navigating through the VUCA (volatility, uncertainty, complexity, and...
- Saudi Arabia, the UAE, and Egypt spearhead the Middle East's manufacturing growth, harnessing AI and Industry 4.0 to revolutionize their economic landscape.
- In 2024, Middle Eastern manufacturers will focus on smart manufacturing, AI-enhanced supply chains, and digital ecosystems, driving sustainable growth in a pivotal year.
Economy
Strains emerge in 72-year-old Türkiye-Israel trade ties
Amid Ankara's criticism of Israel's actions against Gaza and Israel reassessing diplomatic relations, the future of their oil and steel...
- Amid Ankara's criticism of Israel's actions against Gaza and Israel reassessing diplomatic relations, the future of their oil and steel economic partnership becomes uncertain.
- In 2022, Israel exported $2.34 billion worth of goods to Türkiye, while Türkiye's exports to Israel amounted to a substantial $7.03 billion, the latest trade figures point out.