UAE launches first 7-year Islamic Treasury Sukuk worth $150 million
Abu Dhabi, UAE -- The UAE Ministry of Finance said on Sunday it had launched its first-ever seven-year tranche of...
Business
Gulf startup hubs: Converging strategies, diverging ambitions
Despite fierce branding as rivals, Gulf startup hubs share capital, policy, and talent structures that are quietly shaping distinct, globally...
Interview
Economy
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...
- As 2025 begins, the UAE is expected to see a growing demand for highly skilled professionals, particularly in AI and fields leveraging AI technologies across various industries
- A 2024 report by Deel, a global HR management company, highlighted the UAE as the top choice for workers seeking work visas worldwide
Economy
Females make up 37.6% of the GCC population of 57.6 million
Muscat, Oman - The population of the six GCC countries reached 57.6 million in 2023, compared to 56.6 million in...
- The population density was 23.9 people per square kilometre, with the total area of the GCC countries amounting to 2.4 million square kilometres
- The Atlas revealed that the total workforce in the GCC countries reached approximately 33.1 million in 2023, compared to 30.3 million in 2022
GCC equity markets ended 2024 in positive territory
Five of seven GCC equity market indices under coverage ended 2024 on the rise, according to an in-depth report on GCC equity...
- DFM led its peers, wrapping up 2024 with an annual rise of 27 percent
- GCC traded values rose at an annualized rate of about 29 percent in 2024,
Dubai real estate sets all-time record in 2024
Dubai’s real estate market has had a record-breaking year, with new milestones being set throughout 2024, culminated in an all-time...
- First sales from developers climbed by 30 percent year-on-year to US$91 billion
- The year marked a 42 percent year-on-year increase in the volume of apartment sales
Economy
Saudi Arabia records $5.6 billion trade surplus in October 2024 with 30% growth
Riyadh, Saudi Arabia - Saudi Arabia’s trade balance recorded a 30% monthly growth, achieving a surplus of SAR 20.769 billion...
- The Kingdom's total international trade volume reached SAR 164.794 billion ($43.51 billion) in October, reflecting a 2% growth
- Non-oil exports in October totaled approximately SAR 19.413 billion ($5.24 billion), representing 21% of total exports
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...
- The study, conducted by S&P Global Market Intelligence, surveyed over 120 digital transformation leaders from the utility, data center, building, and manufacturing sectors
- It reveals that only 23% of respondents in 2024 identified legacy technology as a significant impediment to digitalization, a notable decrease from 33% in 2022
Economy
Global markets rode AI, interest rate roller coaster in 2024
Paris, France - Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for Artificial Intelligence (AI),...
- Wall Street's three main stock indices blew past record highs to set new peaks in 2024, with the Dow Jones Industrial Average climbing above 45,000 points
- Donald Trump's victory in the US presidential election gave Wall Street even more of a boost on hopes he will follow through on pledges of deregulation and tax cuts
Asia stocks mostly down after Wall St. losses
The "Santa Claus rally" got off to a good start but US stocks then fell across the board on Friday,...
- S&P 500 and the Nasdaq both dropped more than one percent
- Jeju Air shares tumbled more than eight percent after one of its planes crashed in South Korea
Economy
Indian workers replace Palestinians in Israel’s construction sector amid post-war labour void
Indians, long employed in Israel as caregivers, diamond traders, and IT professionals, are now increasingly recruited for the construction sector...
- Israeli researchers believe the number of Indians working in construction still does not match the number of Palestinians who did so before the war
- Before the Hamas attack, around 80,000 Palestinians were employed in construction, along with some 26,000 foreigners, Eyal Argov of the central Bank of Israel said
Asian stocks mostly up after US tech rally
Asian stocks were mostly higher on Tuesday after a tech rally on Wall Street, but their gains remained modest in...
- Hong Kong stocks were "consolidating before the long holiday"
- Honda shares soared 16 percent after announcing a buyback of up to $7 billion
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
UAE launches first 7-year Islamic Treasury Sukuk worth $150 million
Abu Dhabi, UAE -- The UAE Ministry of Finance said on Sunday it had launched its first-ever seven-year tranche of...
Business
Company News
Latest News
Amazon adds AI muscle to connected home lineup
New York, United States - Amazon on Tuesday unveiled the latest generation of connected products, featuring enhanced artificial intelligence capabilities...
Business
Microsoft trims service to Israel over Gaza surveillance
San Francisco, United States - Microsoft on Thursday said it cut an Israeli defense unit's access to some cloud services...
Geostrategy
Trump announces steep new tariffs on pharmaceuticals, big-rig trucks, furniture, reviving trade war
US President Donald Trump announced Thursday punishing tariffs on pharmaceuticals, big-rig trucks, home renovation fixtures and furniture, reviving his global...
Economy
Most Read
Geostrategy
Floating wind power sets sail in Japan’s energy shift
Still heavily reliant on imported fossil fuels, Japan has declared offshore wind energy a "trump card" in its drive to...
- That's despite rising project costs and fears over inadequate infrastructure to produce turbines en masse.
- Floating turbines are particularly well suited to Japan as its deep coastal waters make fixing them to seabeds tricky.
Science
UNGA80: World leaders to discuss framework for inclusive, accountable AI governanc
As there is no recognised body to govern AI on a global level, world leaders will gather in New York...
- The UN says Artificial AI has been rapidly transforming the world including everything from self-driving cars to the analysis of medical images
- However, it notes that the benefits of AI are unevenly distributed, and many countries struggle to access the tools which could transform their societies by supporting development
Science
After Japanese Softbank, US Govt, Chip-maker Nvidia to buy stake in rival Intel
Shares in chipmaker Intel skyrocketed on Thursday after AI giant Nvidia announced it would invest $5 billion in its struggling...
- "This marks a fusion of two world-class platforms," said Nvidia CEO Jensen Huang. "Together, we will expand our ecosystems and lay the foundation for the next era of computing."
- The Trump administration surprised the tech industry last month by taking a 10 percent equity stake in Intel, recognizing the strategic importance of the company