Cybersecurity in 2024: From talent shortages to resilience against emerging tech risks
In 2024, cybersecurity remained central, addressing skill gaps and the impact of generative AI. A Strategic Cybersecurity Talent Framework offered...
OPEC+ expected to extend oil supply cuts to avoid drop in prices
Without a new agreement, the eight countries which have been making voluntary additional production cuts of 2.2 million barrels per...
Business
TotalEnergies cuts UK investment
Move comes UK imposes windfall tax on energy firms.
- Total will cut its North Sea investment by US$123 million in 2023 over windfall tax.
- The move of windfall tax in last month's budget was aimed at helping fund support for British consumers hit by rocketing energy bills.
Geostrategy
EU gives US$131 million to WHO Universal Health Coverage Partnership
GENEVA, SWITZERLAND - The World Health Organization (WHO) and the European Commission agreed on reinforcing a decade-long collaboration to accelerate...
- EU contribution will focus on strengthening health systems to make them more resilient and responsive to natural, climate or human-made disasters.
- The partnership with WHO is a key deliverable of the new EU Global Health Strategy adopted by the European Commission.
Geostrategy
OPEC set to stick or cut more amid plan to cap Russian oil price
LONDON, UNITED KINGDOM - Major oil producers are expected to stick to their current output strategy or even slash production...
- In October the OPEC+ agreed to reduce output by two million barrels per day (bpd) from November.
- Since the October meeting, oil prices have been plummeting to their level of early 2022, far from the peaks above $130 a barrel in March
Economy
Jordan cabinet approves 2023 draft budget law
Council of Ministers okayed a draft law amending the real estate sale tax law for 2022, aimed at stimulating investment...
- Council of Ministers okayed a draft law amending the real estate sale tax law for 2022, aimed at stimulating investment in the sector
- Cabinet also approved a draft law amending Jordanian Nationality Law for 2022 to align texts related to nationality restoration
Economy
Rising inflation, falling wages threaten increased poverty: ILO
Global monthly wages fell in real terms to -0.9 per cent in the first half of the year, the study...
- Global monthly wages fell in real terms to -0.9 per cent in the first half of the year, the study found
- The purchasing power of middle-class families has been reduced, while low-income households have been hit particularly hard
Economy
Eurozone’s unemployment drops to record low
The reading -- the lowest since Eurostat started compiling jobless figures in April 1998 -- was an indicator that the...
- Eurostat estimated that, for the entire 27-nation European Union, 12.95 million adults were unemployed in October
- Younger people had the highest unemployment rate in the EU and its eurozone, at 15.1 percent and 15.0 percent respectively
Geostrategy
Lebanon MPs again fail to elect President for 8th time
Lawmakers in crisis-hit Lebanon failed to elect a new president for an eighth time, despite the deepening impact of the...
- Parliament is split between supporters of the powerful Iran-backed Hezbollah movement and its opponents, neither of whom have a clear majority.
- Lawmaker Michel Moawad, who is seen as close to the United States, won the support of 37 lawmakers.
Geostrategy
US trade subsidies create unlevel playing field with Europe, says Macron
French President Emmanuel Macron repeated his frustration with US subsidies, saying they were hurting European companies by providing an unfair...
- Macron said that US industrial subsidies, which are part of Biden's huge green energy initiatives, are "super aggressive" towards European business.
- While Washington and Paris were "working closely together" on geopolitics and opposing Russia in its invasion of Ukraine, trade tensions remained, Macron said.
Market Report
World equities extend gains on Fed rate optimism
Global stocks rose as Federal Reserve boss Jerome Powell flagged a moderation in interest rate hikes, while China signaled a...
- Equities were also helped by signs that China is edging towards a more pragmatic approach to fighting the coronavirus.
- The dollar sank, having soared across the board this year as Fed monetary policy diverged more and more from other central banks.
Science
‘Carbon credits need more supply, integrity to meet global demand’
RIYADH, SAUDI ARABIA - Carbon credits could make a significant contribution to achieving net zero by 2050, but only if...
- Trade in voluntary carbon credits could grow 100-fold by 2050 if teething problems are addressed.
- A carbon credit allows a country or organization to produce a certain amount of carbon emissions and it can be traded if the full allowance is not used.
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
Cybersecurity in 2024: From talent shortages to resilience against emerging tech risks
In 2024, cybersecurity remained central, addressing skill gaps and the impact of generative AI. A Strategic Cybersecurity Talent Framework offered...
Company News
Latest News
Saudi Arabia boosts ‘investment relations’ with African countries
Riyadh, Saudi Arabia-- Saudi Arabia's Ministry of Investment has held a number of roundtable meetings with several African countries on...
Economy
UAE exhorts UNESCO members to join COP28 ‘climate efforts’
Paris, France-- The UAE has made a fervent appeal to members of the United Nations Educational, Scientific and Cultural Organization...
Economy
Saudi delegation takes part in Riyadh Expo 2030 symposium in Paris
PARIS, FRANCE - A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the...
Business
Most Read
Economy
Oil prices edge up on Iraq’s backing for OPEC+ output cuts
New York, United States - Oil prices saw a modest 2% increase on Friday, boosted by Iraq's expressed support for...
- The market witnessed substantial short covering as the week unfolded, partly fueled by Iraq's commitment to OPEC+'s production level agreements
- Looking ahead, OPEC+ is scheduled to meet on November 26, where discussions on production levels and potential supply adjustments will take center stage
Geostrategy
ADNOC Drilling, Alpha Dhabi set up JV
The two companies will invest up to US$1.5 billion.
- ADNOC Drilling will own 51 percent of the JV with Alpha Dhabi holding 49 percent, bringing together a market-leading drilling and OFS expert.
- This will further develop and scale up ADNOC Drilling’s integrated drilling and oilfield services (OFS) offering and enhance operational efficiencies.
Business
Dubai witnesses green transit revolution
Dubai is actively implementing climate adaptation strategies and technologies in transportation and infrastructure to mitigate climate change effects and enhance...
- By the end of the decade, the emirate aims to have 10% of public buses run on hydrogen or electric powered, ramping up to 20% by 2035, 40% by 2040, 80% by 2045
- According to Sandalkhan, of BCG, Dubai aims to set a global standard in eco-friendly transportation and RTA's 2050 Zero-Emissions plan reflects that ambition