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
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
Geostrategy
Europe promises continuous support to Ukraine against Russia
Several European leaders were in Kyiv on Saturday to commemorate the victims of the 1932-33 Holodomor -- Ukrainian for "death...
- Ukrainian President Zelensky said his country will continue to resist Russian attacks that have systematically targeted Ukraine's energy grid
- "Ukrainians went through very terrible things... Once they wanted to destroy us with hunger, now -- with darkness and cold," Zelensky said
Science
MoCCAE highlights role of UAE Climate Change Research Network
SHARM EL SHEIKH, EGYPT - The Ministry of Climate Change and Environment (MoCCAE) organized an awareness session on the UAE...
- The network aims to support collaborative research programs by creating a platform for engaging the academic and scientific community.
- Drawing the participation of 100 attendees, the event explored several key topics, including promoting science and policy engagement for climate action.
Geostrategy
Faroe Islands renew fishing quota deal with Russia
COPENHAGEN, DENMARK - Denmark's autonomous Faroe Islands have renewed a fishing quota deal with Russia for one year despite Moscow's...
- The agreement between Faroe Islands and Russia has been in place since 1977 and is renewable each year.
- The autonomous territory is highly dependent on fishing for its income and the fisheries ministry says the deal with Russia covers 5 percent of its GDP.
Geostrategy
Iran’s Khamenei says negotiating with US won’t end recent ‘troubles’
TEHRAN, IRAN - Iran's supreme leader Ayatollah Ali Khamenei said Saturday that negotiating with the United States would not put...
- Iran has seen weeks of demonstrations sparked by the September 16 death in custody of 22-year-old Kurdish-Iranian woman Mahsa Amini.
- She had been arrested for an alleged breach of the country's strict dress code for women.
Science
UAE University’s agriculture college launches campaign to cut food waste
AL AIN, UAE - The College of Agriculture and Veterinary Medicine at the United Arab Emirates University launched an awareness...
- The program is targeting schools and universities to educate students about the need to reduce food waste.
- The studies conducted in the food court showed that over 50 kilograms of foods is wasted daily during breakfast and lunch.
Geostrategy
US bans gear from China’s Huawei, ZTE over security risk
US authorities announced a ban on the import or sale of communications equipment deemed "an unacceptable risk to national security"...
- The move is the latest in a series of actions to limit the access of Chinese telecom firms to US networks.
- US officials have shown growing wariness in recent years of Chinese telecommunications companies and technology.
Economy
Qatar ready to provide up to $10 billion in funding to Turkey: sources
Turkish and Qatari official are in the final stages of talks to work out the modalities of extending the funding.
- Turkish and Qatari official are in the final stages of talks to work out the modalities of extending the funding
- The Turkish central bank already had a swap agreement with Qatar's central bank that was originally worth $5 billion
Economy
UNWTO says investments key to transform tourism
Marrakesh, Morocco—The UN World Tourism Organization (UNWTO) convened its 117th Executive Council in Marrakesh, Morocco, as the sector’s recovery continues...
- On the eve of the Marrakesh meeting, the United Nations General Assembly was presented with a a draft resolution calling on all to promote tourism
- The Executive Council is the top governing body of UNWTO and meets twice a year
Business
Abu Dhabi’s GDP expands 11.2% in the first half of 2022: SCAD
The quarterly GDP growth rate reached its highest value in six years during the second quarter of 2022.
- The quarterly GDP growth rate reached its highest value in six years during the second quarter of 2022
- The growth is seen as a reflection of the Emirate's ability to sustain growth despite global economic challenges
Economy
Food delivery market hots up even as inflation fear makes GCC residents cautious about expenses
Increased energy costs and supply chain disruptions caused by the epidemic would be a considerable burden for Gulf countries, which...
- Increased energy costs and supply chain disruptions caused by the epidemic would be a considerable burden for Gulf countries, which rely heavily on imports, says a report.
- Inflation rates, however, vary widely from a high of 6.5 percent in Qatar to a low of -0.4 percent in Bahrain, a PwC report points out
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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
Company News
Latest News
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...
Business
Moody’s downgrades US debt rating outlook to negative
Moody's is the only major agency to maintain its rating for US sovereign debt at its highest level -- underscoring...
Economy
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Business
TASI-listed firms report an aggregate net profit of $48.1bn in Q3
RIYADH, SAUDI ARABIA - Tadawul-listed companies reported a US$48.1 billion (SAR 157.09 billion) aggregate net profit for the third quarter...
- Sector-wise, the energy sector contributed the largest portion of the aggregate net profit of Saudi listed companies in Q3 2023.
- The banking sector accounted for 11.5 percent of the market’s aggregate profit, coming in second in terms of the most profitable sectors.
Economy
OFID’s US$25.5m loan to strengthen vocational education in Benin
VIENNA, AUSTRIA - The OPEC Fund for International Development (OFID) is extending a US$25.5 million loan to the Government of...
- The project includes the rehabilitation of school facilities and a quality enhancement of the technical vocational education program.
- It is aligned with a government program to tackle youth unemployment and reduce the size of the informal sector.
Economy
AI safety & innovation: Key focus of UAE-Spain tie-up
“I have been looking very carefully and intensely at the UAE’s strategy on AI, and it resonates a lot with...
- UAE's artificial intelligence strategy is driving economic growth and establishing it as a global talent hub.
- Collaboration between Spain and ADIA Lab in Abu Dhabi focuses on knowledge and talent exchange.