Study: Legacy technology not impeding adoption of AI and Machine Learning in UAE and Saudi Arabia
Manufacturers see AI as critical for decarbonization (66%), improving ESG scores, energy monitoring (55%), advancing digital twins (68%), and enabling...
Economy
3 ways travel drives economic growth while enhancing global connections and sustainability
WTTC research shows that, having endured estimated losses of $4.5 trillion and 62 million jobs in 2020 alone, travel and...
Geostrategy
Israel’s Netanyahu requests more time to form government
The November 1 election put former premier Netanyahu in a position to form a stable, right-wing government, ending an unprecedented...
- President Isaac Herzog on November 13 tapped Netanyahu to form a government with the backing of factions representing 64 out of 120 lawmakers in parliament
- Likud announced early Thursday a deal with a fourth party, Shas, that gave the ultra-Orthodox Jewish party five ministerial positions
Economy
Japan provides $110m soft loan to support Jordan’s energy sector
The loan is part of Japanese government's pledges to the Jordanian government at the 2019 London Conference.
- The loan is part of Japanese government's pledges to the Jordanian government at the 2019 London Conference
- Japanese ambassador Okuyama said that the loan would support the Jordanian government's comprehensive reform efforts
Economy
UAE leads Arab world in IMD World Talent Ranking 2022
The country was ranked among the top ten in nearly 30 percent of the report’s indexes.
- The country was ranked among the top ten in nearly 30 percent of the report’s indexes
- World Talent Report is published annually by the Institute for Management Development in Lausanne, Switzerland since 2013
Economy
Abu Dhabi Chamber inks 3 pacts to drive economic growth
ABU DHABI, UAE - As part of its participation in the first edition of the Abu Dhabi International Food Exhibition...
- The MoUs are a part of the chamber’s efforts to drive economic growth in Abu Dhabi and support investment in vital sectors.
- As part of its efforts to support start-ups and SMEs, the Abu Dhabi Chamber signed a partnership agreement with the Emirates Development Bank.
Economy
Qatar Central Bank’s foreign reserves surge 6.82 percent in Nov
Doha, Qatar---The foreign currency reserves and liquidity of the Qatar Central Bank (QCB) increased by 6.82 percent to reach QR...
- The figures issued by the QCB show the bank's official reserves increased by the end of November 2022 year-on-year by about QR 13.169 billion to reach QR 166.109 billion.
- The rise has been driven by the increase in the QCB's balances of bonds and foreign treasury bills by about QR 18.896 billion to the level of QR 124.656 billion in November 2022.
Business
Kazakhstan threatens to ban ArcelorMittal after worker death
ALMATY, KAZAKHSTAN - Kazakhstan threatened Thursday to ban global steel giant ArcelorMittal from operating in the Central Asian country after...
- ArcellorMittal, the world's second largest steel producer, operates a dozen factories and mines in this polluted industrial Kazakh region.
- Kazakhstan has in the past imposed fines on ArcelorMittal for non-compliance with ecological standards.
Geostrategy
WHO urges malaria funding boost as deaths stay stubbornly high
The World Health Organization called for more funds to help overcome towering challenges in the battle against malaria, which continues...
- A report highlighted significant remaining challenges, including limited donor funding.
- The COVID-19 pandemic has compounded several challenges facing efforts to battle malaria.
Geostrategy
WHO member states agree to develop draft of pandemic accord in early 2023
GENEVA, SWITZERLAND - Member states of the World Health Organisation (WHO) Thursday agreed to develop the first draft of a...
- This zero draft of the pandemic accord, rooted in the WHO Constitution, will be discussed by member states in February 2023.
- The agreement by the Intergovernmental Negotiating Body, comprising WHO’s 194 member states, was a milestone in the global process to learn from the COVID-19 pandemic.
Economy
US oil futures drop 3%, finishing at new low for 2022
Analysts note that conditions in the oil market have loosened compared with earlier in the year, adding to oversupply worries...
- WTI futures for delivery in January ended the day at $72.01 a barrel after US Energy Information Administration data showed a jump in gasoline stockpiles
- WTI also closed at a 2022 low on Monday, while international benchmark Brent slipped to a level not seen since January
Economy
First shipment of UAEGD-compliant gold exported to Indian International Stock Exchange
The UAEGD is a standard that provides a framework for the gold sector, in line with international best practices.
- The deal consists of exporting about 100 kilograms of gold worth $4 million from the Emirates Gold Refinery to the IIBX
- The UAEGD is a standard that provides a framework for the gold sector, in line with international best practices
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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
Study: Legacy technology not impeding adoption of AI and Machine Learning in UAE and Saudi Arabia
Manufacturers see AI as critical for decarbonization (66%), improving ESG scores, energy monitoring (55%), advancing digital twins (68%), and enabling...
Economy
Company News
Latest News
Aramco produces first unconventional tight gas
Dhahran, Saudi Arabia - Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully produced the first...
Business
Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?
The expected injection of billions of dollars into the retail business through sale of varied items can turn out to...
Business
Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?
The expected injection of billions of dollars into the retail business through sale of varied items can turn out to...
Business
Most Read
Economy
UAE non-oil activities to continue to see robust growth in 2024: OPEC
Vienna, Austria--The UAE's non-oil economic activities continued to see robust performance and are expected to extend healthy development into 2024,...
- Its monthly report for November noted that it anticipates the upward trend in non-oil activities to continue supporting further growth for the next year
- The report said the country's tourism sector, accounting for nearly 16% of its GDP, showed strong growth, with 8.5 million visitors coming to the UAE, a 19% jump
Business
Chemanol to buy stake in ACC
It will acquire 84 percent stake for US$12.3 million.
- The purchase amount would be disbursed partially and within specified intervals, as per the terms stipulated in the SPA.
- Chemanol said the acquisition is aimed at enhancing its share in the market and diversifying its product range,
Analysis
Saudi pioneering solutions for water scarcity
The kingdom is forging partnerships with major corporations to revolutionize water technologies and achieve water self-sufficiency.
- Water scarcity is 500 cubic meters per capita, while Saudi Arabia's annual per capita share of water does not exceed 89.5 cubic meters.
- The Saline Water Conversion Corporation has signed agreements with several major corporations to tackle water scarcity.