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...
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),...
Economy
Economy
ADAFSA launches first livestock auction market in Abu Dhabi
ABU DHABI, UAE - The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) has announced the launch of the first...
- Other auctions will be organized regularly to enable livestock breeders directly sell their camels to the public.
- The permanent livestock auction market will serve as a destination for those interested in buying camels, cattle and rare animals.
Geostrategy
FNC’s UAE-EU friendship groups meets with Czech parliament
PRAGUE, CZECH REPUBLIC - Members of the UAE-EU Parliamentary Friendship Group of the Federal National Council (FNC), headed by Sarah...
- The meeting discussed the importance of strengthening the cooperation between the two parliaments.
- The two parliamentary groups discussed ways of improving the relations between them.
Geostrategy
Saudi would back bids for Man Utd, Liverpool, says sports minister
Saudi Arabia would back private bids for Manchester United or Liverpool, its sports minister said, adding the kingdom was keen...
- Saudi Arabia last year snapped up England's perennial under-achievers Newcastle - at is now third in the Premier League.
- Saudi Arabia's chances of bidding for the World Cup would increase if it wins hosting rights for the 2026 and 2027 women's and men's Asian Cups.
Business
DEWA to hold second General Assembly in December
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA), which is listed on the Dubai Financial Market (DFM), has announced...
- The assembly will vote on the recommendation of the Board of Directors to distribute a special one-time cash dividend of US$552 million to its shareholders.
- For the year 2022, DEWA intends to pay its shareholders a total dividend of $2.24 billion.
Economy
Abu Dhabi to host Annual Investment Meeting in May 2023
The AIM Global 2023 is supported by the Ministry of Industry and Advanced Technologies, with the ADDED as a lead...
- The AIM Global 2023 is supported by the Ministry of Industry and Advanced Technologies, with the ADDED as a lead partner
- The meeting will be attended by decision-makers, investors, experts, and academic figures from all over the world
Geostrategy
UAE takes part in IORA meetings in Bangladesh
DHAKA, BANGLADESH - The UAE participated in the Indian Ocean Rim Association's (IORA) 22nd Council of Ministers (COM) meeting and...
- The UAE affirmed its commitment to promoting inclusive growth and prosperity within the Indian Ocean region.
- The launch of the Sheikh Zayed IORA Scholarship for Humanitarian Action and Development was officially announced.
Economy
German economy grew more than estimated in third quarter
Gross domestic product grew "despite difficult general conditions in the global economy such as the continuing Covid-19 pandemic, delivery bottlenecks,...
- Europe's biggest economy expanded by 0.4 percent between July and September compared to the second quarter
- Analysts had forecast a contraction in the third quarter as the fallout from Russia's war in Ukraine takes a toll on European economies
Economy
Libya expels over 200 migrants across land borders
The United Nations had previously handled the repatriation of refugees from Libya, but the deal between authorities in the west,...
- The group of returnees included "105 Egyptians, 101 Chadians and 20 Sudanese."
- The operation was organized by the Interior Ministry of Prime Minister Abdulhamid Dbeibah's Tripoli-based government
Economy
‘Dubai seeks to be among top digital economies’
Sheikh Hamdan bin Mohammed, who is also Dubai’s Higher Committee of Future Technology Development and Digital Economy Chairman, said this...
- Sheikh Hamdan has approved the new phase of the Dubai Metaverse Strategy, which aims to enhance the digital economy
- The new phase of the strategy aims to implement measures to empower the use of the metaverse and future technologies
Economy
EIC calls UAE as the leader in renewable energy sector
London, UK --The Energy Industries Council (EIC), one of the world’s largest energy trade associations, has released a report on...
- An EIC report titled “UAE: EIC Country Report – November 2022”, highlights the UAE’s Hydrogen developments in the sector.
- “The UAE could be a key player and deliver 25 percent of the production of the global low-carbon hydrogen market by 2030,” the report said
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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
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...
Economy
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Gaza health system has reached point of no return, says ICRC
The Red Cross called for medical facilities and workers in war-ravaged Gaza to be protected, warning the health system there...
Geostrategy
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...
Business
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...
Economy
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Economy
Dubai govt approves incentives to boost emirate’s economy
Dubai, UAE – Dubai government on Thursday approved several initiatives to stimulate the industrial sector in the emirate besides announcing...
- The initiatives to boost industrial sector is in line with the goals of the Dubai Economic Agenda D33 and aims to increase manufacturing value added (MAV) by 15.79 billion
- The Executive Council has extended its single-use bags reduction policy to encompass more plastic materials as part of the phasing out of single-use plastics by 2026
Economy
Gaza unrest poses risk to oil markets, global growth
Middle East tensions likely to spur a mild global recession, with oil potentially hitting $120-$150 per barrel, says a latest...
- Middle East tensions likely to spur a mild global recession, with oil potentially hitting $120-$150 per barrel, says a latest report by Oxford Economics.
- The report predicts a quick rebound in equity markets post-conflict dip, while urging policymakers to ready economic safeguards and call for peace.
Business
Al Ansari 9M profit US$105m
The operating income of the group rose to US$234 million.
- Al Ansari received shareholders’ approval for the proposed interim dividend payment of $81 million.
- The second payment of the dividend of an equivalent amount will be disbursed in April 2024.