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...
GCC powers ahead in global clean energy transition with solar and hydrogen investments
Now, the region is turning its attention to newer innovations, including hydrogen production, small modular reactors (SMRs), and compact nuclear...
Economy
Ukraine grain deal extended ‘under current terms’: Turkey
Ukraine is one of the world's top grain producers, and Russia's invasion of the country blocked 20 million tons of...
- The agreement would be in force for "120 days considering the winter conditions", and there could be "new arrangements" after the winter season
- An international source close to the negotiations also confirmed to AFP that the parties concerned agreed to extend the deal
Economy
Israel’s Q3 growth slows due to weaker consumer spending
The gross domestic product increased 2.1 percent annually between July and September compared to the previous three months.
- The gross domestic product increased 2.1 percent annually between July and September compared to the previous three months
- The annual inflation rose to 5.1 percent in October from 4.6 percent in September, well above an official 1-3 percent target, the statistics bureau said on Tuesday
Economy
EU pledges US$1bn in climate funding for Africa
The initiative, launched at UN climate talks along with France, Germany, the Netherlands and Denmark, will combine "existing and new"...
- The funding also includes an EU pledge of $60 million for climate "loss and damage" already being suffered, a contentious issue at the negotiations in Egypt
- It will cover the collection of climate risk data, boosting early warning systems, disaster risk finance and insurance, as well as helping to attract private finance
Economy
Beyond Oil and Gas Alliance struggles to enlist new members
The alliance had committed to phasing out oil and gas production when it was launched at UN climate talks in...
- At COP27 talks in Egypt, Fiji and Chile sign up as "friends" of the alliance, while the US state of Washington joins as a core member
- BOGA says it has managed to attract new partners despite the global energy crisis which has seen a rush towards oil and in particular gas
Economy
GCC growth may slow down in 2023 and 2024
The regional economies -- set to expand by 6.9 percent in 2022 -- may moderate to 3.7 percent and 2.4...
- The regional economies -- set to expand by 6.9 percent in 2022 -- may moderate to 3.7 percent and 2.4 percent in 2023 and 2024 respectively, says a World Bank report
- Easing of pandemic restrictions and positive developments in the hydrocarbon market drove strong recoveries in 2021 and 2022 across the GCC, the report points out
Business
ADIB, ADGM to support growth needs of Abu Dhabi financial community
Abu Dhabi, UAE -- Abu Dhabi Islamic bank (ADIB) and Abu Dhabi Global Market (ADGM) will collaborate to support the...
- ADIB will provide clients with ADGM licensed managers for Sharia compliant banking and share news on developments in finance sector.
- Also, a formal framework for cooperation in education, business development between the Bank and ADGM is also a part of the deal.
Economy
UK inflation jumps to 41-year high on soaring energy and food bills
Domestic fuel bills rocketed further despite the UK government's energy price freeze as the market faced fresh fallout from key...
- The Consumer Prices Index hit 11.1 percent in October, reaching the highest level since 1981, the Office for National Statistics (ONS) said.
- "Rising gas and electricity prices drove headline inflation to its highest level for over 40 years, despite Energy Price Guarantee," said ONS chief economist Grant Fitzner.
Business
Russia now routes oil through Turkey to reach EU
The 27-nation bloc has also placed an embargo on Russia coal. While it has not banned natural gas imports from...
- The EU will ban most imports of Russian crude oil next month
- Ankara has increased imports of Russian crude since the Ukraine invasion in late February, the think tank said
Science
Kuwait sets 2060 as date to reach carbon neutrality
Sharm el Sheikh, Egypt—Kuwait is planning to achieve carbon neutrality in the oil and gas sector by 2050 and across...
- According to Kuwait's Environment Public Authority chief, Kuwait intends to embrace a national strategy to achieve the target
- The chief said the country is also keen to develop program to reduce carbon emissions through low-carbon development strategies in the oil and gas, energy, transport, industry
Economy
UAE Cabinet approves penalties for flouting Nafis initiatives, programmes
Launched as part of 'Projects of the 50', the program aims to accelerate the UAE's development journey and boost the...
- Launched as part of 'Projects of the 50', the program aims to accelerate the UAE's development journey and boost the economy
- If an establishment undertakes fake Emiratisation, a fine of no less than AED20,000 and not more than AED100,000 for each Emirati employee will be imposed
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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 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...
Company News
Latest News
FGCC Chambers to hold GCC-Egyptian Business Forum in Saudi Arabia
AL-KHOBAR, SAUDI ARABIA - The Federation of Egyptian Chambers of Commerce (FEDCOC) is scheduled to host the first Gulf-Egyptian Business...
Business
Saudi Arabia to continue voluntary oil cut until end of Dec 2023
Riyadh, Saudi Arabia -- Saudi Arabia has announced it will continue the voluntary cut of one million barrels per day,...
Business
UAE ministry issues guidebooks on Emiratization for employers, employees
DUBAI, UAE - The Ministry of Human Resources and Emiratization (MoHRE) has launched awareness guidebooks for private sector companies and...
Business
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Science
AI to contribute in enhancing low-emissions development
BONN, GERMANY - Artificial intelligence (AI) can make substantial contributions to climate-resilient and low-emissions development. UN Climate Change’s Initiative on...
- UN Climate Change’s Initiative on Artificial Intelligence for Climate Action explores the role of AI as a tool for climate action in developing countries.
- It aims to deliver results both on policy and implementation, under the first joint work program of UN Climate Change’s Technology Mechanism.
Geostrategy
Don’t pause Mideast de-escalation over war, says UAE official
Dubai, UAE - Middle East powers should maintain their push to de-escalate the region through trade and economic ties despite the...
- According to UAE presidential adviser Anwar Gargash, countries should maintain that strategy even though the war is sending shockwaves through the region.
- "National actors are basically trying to use economics as a way to de-escalate tension," Gargash told the World Policy Conference in Abu Dhabi,
Science
Global energy meet discusses way forward to net-zero emissions
VIENNA, AUSTRIA – High-level representatives from the member states of the United Nations Industrial Development Organization (UNIDO), international organizations, experts...
- The two-day forum showcased innovative technologies and transformative solutions to accelerate low-emission, climate-resilient development.
- The international event aimed to foster new partnerships to scale up investments and technology transfer to developing countries.