Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts
The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...
Economy
EXCLUSIVE: AI agents to reshape the future of work, says CEO Automation Anywhere
Davos, Switzerland: AI agents are set to revolutionize the way businesses operate, with tasks being divided into autonomous, AI-assisted, and...
Business
Business
‘Introducing insurance share to beneficiaries is important privilege’
ABU DHABI, UAE - Insurance shares distributed among beneficiaries is one of the most essential privileges in the Federal Law...
- The authority said that shares are distributed to the daughter, sister or mother if they are widowed or divorced and to the son or brother if they are disabled.
- Pension shares are distributed to the heirs once the pensioner is deceased, given that those heirs do not earn a salary or receive their own pension.
Economy
ADDED digitally links freezones in Abu Dhabi
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) has completed the e-link project with four freezones...
- The e-link with freezones helps in providing info and data of the beneficial owner of economic establishments in line with laws and regulations in the UAE.
- They will enhance the country status in following highest level of international standards of transparency and governance.
Geostrategy
Gas price cap divides EU energy ministers’ meeting
BRUSSELS, BELGIUM - EU energy ministers met Thursday to debate measures to mitigate the energy crunch in Europe but were...
- They were to discuss a proposal by the European Commission, unveiled just two days earlier, that would set a cap on gas prices at 275 euros per megawatt hour.
- Many members complained that the plan comes with such conditions attached that it was designed never to be used.
Economy
Saudi fund deposits $237m into accounts of housing beneficiaries
Riyadh, Saudi Arabia---Saudi Arabia has deposited 891 million riyals in subsidy to the beneficiaries of a housing program, Iskan, aimed...
- The subsidy for the month of November was deposited into the accounts of the Sakani beneficiaries by the Real Estate Development Fund.
- Since the launch of the program in June 2017, a total of 42.6 billion riyals has been provided to its beneficiaries.
Business
Stocks rise, dollar slips as Fed signals softer rate hike pace
Wednesday's much-anticipated minutes showed most US central bank chiefs felt smaller increases would "likely soon be appropriate" as the economy...
- Bets were growing on officials announcing a 50-basis-point lift at their December gathering, down from four straight 75-point hikes
- Investors are keeping a close watch on China after it announced new Covid cases on Thursday as authorities worked to curb the spread with snap lockdowns
Business
China’s ‘iPhone city’ tightens Covid rules after violent protests
The curbs in Zhengzhou are part of China's national zero-tolerance approach to Covid, which involves grueling lockdowns, travel restrictions and...
- Hundreds of workers took to the streets around the vast iPhone factory in Zhengzhou, confronting hazmat-clad personnel wielding batons in a rare display of public anger in China
- In the wake of the unrest, Zhengzhou authorities ordered mass testing and an effective lockdown for several districts in the central Chinese city starting Friday
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.
Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts
The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...
Economy
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ENEC inks MoU with OSGE
Business
Saudi EXIM, India EXIM ink MoU
Business
Egypt annual core inflation falls 1.6 percent in October
Dubai, UAE--Egypt's annual core inflation rate decelerated by 1.6 percent in October, recording 38.1 percent, down from 39.7 percent in...
Economy
Insect farming ‘revolutionizes’ Gulf agriculture
Across the arid region, in which conventional agriculture is beset by many challenges, insect farming for livestock feed is perceived...
Economy
GCC keen to strengthen economic cooperation with Turkey: Albudaiwi
Istanbul, Turkey-- The Gulf Cooperation Council (GCC) is keen to enhance economic cooperation with Turkey, according to its Secretary General...
Economy
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Business
Dubai Land Department calls for engaging accredited valuation offices
DUBAI, UAE – The Dubai Land Department (DLD) is committed to providing property owners with easily accessible resources to reinforce...
- The list of accredited valuation offices is available on DLD’s official website and the Dubai REST app.
- This will help ensure a fair and transparent approach concerning real estate assets and liabilities.
Geostrategy
Turkey halts joint-energy projects with Israel over Gaza war
Dubai, UAE-- Turkey has suspended joint-energy projects with Israel over the latter's invasion and bombardment of the Gaza Strip, according...
- The Turkish energy minister said that it would be "inappropriate" to talk about the implementation of projects with Israel under such conditions
- Israel has blocked access to water, food, and electricity in Gaza, plunging the coastal area into a humanitarian crisis as the death toll crosses 11,000
Economy
Saudi Arabia set to be global reference in smart cities
"The use of generative artificial intelligence (AI) extends beyond urban design and development. It involves creating smart cities tailored to...
- The crucial role of generative AI in developing sustainable, resident-focused smart cities.
- Saudi Arabia's integration of IoT into urban living, enhancing communication and connectivity.