Microsoft retires Skype, the online voice and video call pioneer
San Francisco, United States - Microsoft on Friday announced it was retiring Skype, the online voice and video call pioneer...
Science
Asian markets advance after Wall St gains, US Postal Service U-turn
Asian markets rose Thursday, tracking gains on Wall Street and following the US Postal Service's U-turn on a ban on...
Economy
Dubai brings in new rules to govern its Digital Economy Court
Dubai, UAE--The Dubai International Financial Centre (DIFC) Court has launched a new set of industry-first specialised rules for its recently...
- A leading international judicial expertise Justice Michael Black of England & Wales has been recruited to oversee and operate the new court’s cutting-edge digital infrastructure
- The DIFC Courts Rules will facilitate the efficient and modern resolution of digital economy disputes
Economy
Gulf central banks raise interest in line with US Fed’s rate hike
The Saudi Central Bank, known as Sama, the Central Bank of Bahrain and Qatar Central Bank upped their interest rates...
- The Saudi Central Bank, known as Sama, the Central Bank of Bahrain and Qatar Central Bank upped their interest rates by 50 basis points
- The Central Bank of the UAE (CBUAE) earlier Wednesday raised the Base Rate applicable to the Overnight Deposit Facility by 50 basis points
Economy
Morocco lose game but win hearts all over world
Casablanca, Morocco--They may have fallen just short of reaching the World Cup final, but Moroccans on Wednesday hailed their team's historic...
- All over Morocco, shops have been selling team jerseys and flags.
- The news agency said the king also conveyed a congratulatory message to French President Emmanuel Macron by telephone post-match
Economy
Recession in Germany to be lower than predicted, says Ifo Institute
Ifo's positive outlook came a day after a closely watched survey showed German investor confidence rising again in December.
- Economic output growth is expected to shrink by 0.1 percent in 2023, the Munich-based Ifo Institute said
- Inflation in Germany is expected to slide from 7.8 percent in 2022 to 6.4 percent in 2023.
Economy
EU energy ministers push gas price talks into next week
Gas prices are high, albeit lower than during the middle of the year, spurring worries that European homes and businesses...
- Europe has entered a bitingly cold winter with fewer energy options because Russia has reduced gas supplies in retaliation for EU sanctions imposed over its war in Ukraine
- Several EU countries, including France, Poland and Spain, criticised the commission proposal as being designed so  the price cap could never be triggered
UK inflation slows to 10.7% in November
The data was published on the eve of an interest rate decision from the Bank of England, which is widely...
- The Consumer Prices Index eased to 10.7 percent last month, the Office for National Statistics (ONS) said in a statement
- The modest slowdown followed falls in the price of motor fuel, but inflation remains high owing to soaring domestic energy and food bills
Economy
US Fed expected to slow pace of rate hikes as inflation eases
The consumer price index, a key gauge of inflation, logged its smallest annual increase in nearly a year, fueling optimism...
- The Federal Reserve has embarked on an all-out campaign to cool demand in the world's biggest economy
- It raised rates six times this year with interest-sensitive sectors like housing already reeling from tightening policy
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
Microsoft retires Skype, the online voice and video call pioneer
San Francisco, United States - Microsoft on Friday announced it was retiring Skype, the online voice and video call pioneer...
Science
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Bahrain and EU hold discussions to ramp up ties in energy sector
Manama, Bahrain-- Bahrain and the European Union (EU) have held discussions to boost cooperation in various domains, including the energy...
Economy
Brazil, UAE forge ahead with stronger bilateral ties
“We would like the UAE to be a partner in our current process of investing in infrastructure. It is a...
Economy
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Economy
Saudi, Turkey, Egypt among 16 nations viewing climate change as top concern
Riyadh, Saudi Arabia: Around 80% of consumers surveyed across 16 countries now view climate change as the world’s No. 1...
- Around 56% of Saudi consumers stated that they were willing to pay more to ride in a carbon-neutral taxi as against 40% of consumers in other countries
- Similarly, they were also willing to pay more for hotels, train tickets, broadband internet, groceries, computers, clothing, and smartphones
Economy
ADB plans to invest US$100bn to maximize climate impact
MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB)...
- By 2030, more than 55 percent of the population of Asia and the Pacific will live in urban areas, driving up demand for urban-related services.
- If urban areas continue along the same growth trajectory, Asian cities could contribute over half of the rise in global GHG emissions in the next 20 years.
Economy
Oil industry faces moment of truth as clean energy transitions advance: IEA
Paris, France--Oil and gas producers face pivotal choices about their role in the global energy system amid a worsening climate...
- The IEA report examined the implications and opportunities for the industry that would arise from stronger international efforts to reach energy and climate targets.
- The report estimates that the present valuation of private oil and gas companies could fall by 25% from $6 trillion today if all national energy and climate goals are reached