How city governments can foster tech-sector growth without breaking the bank
City governments are usually equipped to promote their cities through websites, newsletters, communications, as well as hosting delegations visiting from...
How public-private partnerships can ensure ethical, sustainable and inclusive AI development
Public-private partnerships (PPPs) address AI bias by combining ethical guidelines with technological auditing tools. Governments set accountability frameworks, and companies...
Economy
Tourism recovery reaches 65% of pre-pandemic levels
An estimated 340 million international arrivals were recorded in the third quarter of 2022 alone, almost 50% of the nine-month...
- An estimated 340 million international arrivals were recorded in the third quarter of 2022 alone, almost 50% of the nine-month total
- Travel was boosted by strong pent-up demand, improved confidence levels and the lifting of restrictions in an increasing number of destinations
Economy
Aircraft orders drive US manufactured goods demand
A pick-up in aircraft orders boosted demand for big-ticket US manufactured goods in October, with numbers rising more than expected,...
- Orders for defense aircraft and parts soared 21.7 percent from September to October.
- Surging inflation in the United States and supply chain problems have proven a challenge to industry and consumers.
Geostrategy
Jordan, Egypt discuss various aspects of transportation
ALEXANDRIA, EGYPT - Jordan's Minister of Transport Maher Abu Al-Samen discussed with his Egyptian counterpart Kamel Al-Wazir ways and means...
- The talks were held on the sidelines of the Council meeting of Arab Transport Ministers in Alexandria, Egypt.
- Jordan's minister hailed the constructive meeting of Arab Transport Ministers.
Economy
First batch of Certified Government Legal Advisors graduate from ADJA
ABU DHABI, UAE - The Abu Dhabi Judicial Academy (ADJA) celebrated the graduation of the first batch of the foundation...
- The program will prepare trained and specialized human cadres capable of understanding, assimilating and developing the legal systems.
- The program combines practical and theoretical training and to provide the cadres with basic skills that ensure efficient performance of their work.
Business
Tunisian village banks on cacti to bring in fortune
In a dry country where access to water is already far below the 1,700 cubic meters per resident per year...
- Used in moisturizing and anti-ageing products, the oil is a much-needed cash cow in a region where one third of people live in poverty
- The success of the prickly pear in Zelfen has prompted farmers in other regions such as Nabeul and Kairouan to take an interest
Economy
‘UAE govt seeks to enable SMEs enter global markets’
"The UAE economic model is based on developing the national entrepreneurship system and enhancing the participation of Emirati entrepreneurs and...
- The UAE government is seeking to open new channels for entrepreneurs and support the growth and expansion of their businesses in global markets, says economy minister
- The country is strengthening global strategic economic partnerships and cooperation to enhance the potential for sustainable growth, Abdullah bin Touq Al Marri adds
Economy
With gas prices up, Algeria hikes defense budget to US$23bn
With its revenues buoyed by high hydrocarbon prices over the past year, Algeria intends to double its defense budget to...
- According to the budget approved by the lower house, the total allocated to defense in 2023 will be $22.8 billion for 2022
- The overall budget is predicated on a forecast economic growth rate of 4.1 percent and inflation of 5.1 percent, along with an oil price of at least $60 a barrel
Interview
Saudi business incubators among the most effective leadership empowerment tools in Gulf region: Expert
Raising capital, in general, has become difficult for startups in wake of global and regional issues but the Kingdom is...
- Raising capital, in general, has become difficult for startups in wake of global and regional issues but the Kingdom is in better position, says Nomow's Sumaya Ali Algabbass
- Saudi Arabia, whose startups raised $70 million across 12 deals, ranked third, with e-commerce enabler platform Zid grabbing $50 million, according to a study
Economy
UAE economy expected to grow more than 6 percent in 2022: IMF
The country's inflation has risen with global trends and is expected to average just over 5 percent this year, while...
- The IMF statement came following discussions with UAE authorities from November 2 to 17, 2022. Ali Al-Eyd, who led the IMF staff team, the UAE has seen robust growth this year.
- The outlook is, however, subject to significant external uncertainties, including the impacts of global economic and financial headwinds and geopolitical developments.
Economy
AD Ports Group, TotalEnergies partner to explore solar power opportunities
The agreement comes as Abu Dhabi accelerates its development of solar energy solutions to support the wider UAE net-zero emissions...
- The agreement comes as Abu Dhabi accelerates its development of solar energy solutions to support the wider UAE net-zero emissions by 2050 agenda
- The emirate plans to install 5.6 gigawatts of solar PV capacity by 2026 and is currently developing the world’s largest solar plant with a capacity of 2GWs in the Al Dhafra
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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
How city governments can foster tech-sector growth without breaking the bank
City governments are usually equipped to promote their cities through websites, newsletters, communications, as well as hosting delegations visiting from...
Company News
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IPOs in MENA raise US$5.8bn in first nine months of 2023
ABU DHABI, UAE - A recent report revealed that 29 initial public offerings (IPOs) were recorded in the Middle East...
Market Report
Record number of patent applications filed globally in 2022, says WIPO
GENEVA, SWITZERLAND - Global patenting activity soared to new records in 2022, fueled by Indian and Chinese innovators, but an...
Business
Marafy: Saudi Arabia unveils another ambitious megacity project
Riyadh, Saudi Arabia - Saudi Arabia has revealed plans for a remarkable megacity project named Marafy, following in the footsteps...
Economy
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Economy
Qatar leads by example in money laundering control
"Nations must take action to establish measures for detecting the physical cross-border movement of currency and negotiable instruments to combat...
- MENAFATF Executive Secretary Suliman bin Rashid Al Jabrin lauds Qatar's adherence to global anti-money laundering standards.
- Highlighting the FATF's goals to block terrorists' cross-border funding, Al Jabrin urges strong measures against currency smuggling.
Economy
Dubai approves $67bn budget to stimulate economic recovery
Dubai, UAE - Dubai government's general budget for the fiscal cycle of 2024-2026 includes total expenditures of $67.16 billion (AED...
- A total of 34% of total government expenditures of the 2024 budget goes to the social development sector in the areas of health, education, and scientific research
- Spending on infrastructure, including roads, tunnels, bridges, transportation, sewage stations, parks, and renewable energy sources accounts for 42% of total spending
Market Report
Stocks extend global rally as US jobs data cements rate hopes
Hong Kong, China - Markets rallied again Monday following another strong performance on Wall Street, as below-forecast US jobs data fanned...
- All three main indexes on Wall Street jumped Friday after the jobs reading, which also fueled bets on an interest rate cut by June.
- Asian markets tracked the rally in New York, with Tokyo more than two percent higher, while Hong Kong, Wellington, Manila and Jakarta were up more than one percent