UAE stablecoin usage up 55% yoy as new regulations drive market momentum
Stablecoins account for the largest share of crypto activity in the UAE (51%), which stands significantly higher than both Bitcoin...
Economy
Bitcoin close to record as cautious markets eye US election
The surge in the price of bitcoin is seen as a bet on a Republican victory, as Donald Trump has...
Science
‘UAE to reveal implementation map of Net Zero 2050 at COP27’
Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said the UAE’s participation in the 27th session of...
- A UAE minister said the COP27 focuses on financing and ensuring equitable participation of developing countries in climate action efforts.
- She said the UAE will invite the world to participate in the efforts to spread and use renewable energy.
Geostrategy
UAE, Jordan ministers discuss global, regional issues
Jordan's Deputy Prime Minister and Minister of Foreign Affairs and Expatriates Ayman Safadi met with UAE Minister of Foreign Affairs...
- The meeting between the two ministers was held on the sidelines of the Sir Bani Yas Forum in Abu Dhabi.
- The ministers highlighted the progress on joint projects and cooperation programs adopted by UAE and Jordan.
Economy
COP27 summit in Egypt reckons with gravest threat to humanity
The already daunting task of decarbonizing the global economy in a few years has been made even harder by a...
- Current trends would see carbon pollution increase 10 percent by the end of the decade and Earth's surface heat up 2.8C, according to findings unveiled last week
- The already daunting task of decarbonizing the global economy in a few years has been made even harder by a global energy crunch and rapid inflation
Economy
Gulf nations secure future with Asian investments
GCC, which has been investing heavily in Asia with an eye on protecting its petrochemicals and oil exports, is engaging...
- GCC, which has been investing heavily in Asia with an eye on protecting its petrochemicals and oil exports, is engaging in growth industries like fintech and logistics
- GCC's exports to Asia are mainly constituted from commodities with predominantly oil products and their derivatives, as well as natural gas, in the case of Qatar
Geostrategy
Saudi, Australian ministers discuss trade, bilateral ties
Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef met the Australian Assistant Minister of Industry for Manufacturing...
- The Saudi delegation’s visit to Australia also included participating in the International Mining and Resources Conference + EXPO (IMARC).
- The Saudi delegation highlighted initiatives to develop the industrial sector.
Geostrategy
US backs two-state solution in call to Palestinian leader
US Secretary of State Anthony Blinken reaffirmed Washington's commitment to a two-state solution to the Israeli-Palestinian conflict in a phone...
- The election result in the Jewish state came against the backdrop of soaring violence between Israel and the Palestinians.
- US Secretary of State Anthony Blinken in a phone call with Palestinian President Mahmoud Abbas also discussed efforts to improve the quality of life for the Palestinian people.
Geostrategy
Iranians stage new protest actions despite crackdown
Iranian students protested and shopkeepers went on strike despite a widening crackdown, according to reports on social media, as demonstrations...
- As the working week got underway, security forces adopted new measures to halt protests at universities in Tehran.
- An official in Kerman province admitted the authorities were having trouble quelling the protests that erupted after Amini's death on September 16.
Geostrategy
Iran admits it had sent drones to Russia before the war
Iran admitted for the first time that it has sent drones to Russia, but insisted they were supplied to its...
- Ukraine and its Western allies have accused Russia of using Iranian-made drones in recent weeks to carry out attacks.
- The European Union and UK have imposed sanctions on three Iranian generals and an arms firm accused of supplying Russia with drones.
Analysis
Total broad money supply in Qatar reaches US$189bn in September 2022
The Planning and Statistics Authority (PSA) has released the 105th issue of (Qatar; Monthly Statistics) bulletin for the month of...
- One of the most prominent changes is the increase in the general index by a positive month-on-month change rate of 1.22 percent compared to August 2022.
- The largest increase was in the entertainment and culture category with 6.03 percent, compared to the previous month.
Science
FANR highlights its robust nuclear safeguards regime
UAE's Federal Authority for Nuclear Regulation (FANR) has recently participated in the 14th Symposium on "International Safeguards: Reflecting on the...
- The symposium in Austria aims to reflect on the experience gained and lessons learned over the past six decades of implementation of nuclear safeguards.
- It also tries to verify that member states are honoring their international legal obligations to use nuclear material and technology only for peaceful purposes.
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UAE stablecoin usage up 55% yoy as new regulations drive market momentum
Stablecoins account for the largest share of crypto activity in the UAE (51%), which stands significantly higher than both Bitcoin...
Economy
Company News
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Let’s transform statistical systems for the future
"The PSA should champion digital transformation in Qatar by equipping the national statistics system with comprehensive, accurate, and reliable data....
Economy
Saudi Fund for Development signs $100m loan pact to support the water sector in Argentina
Riyadh, Saudi Arabia - Saudi Fund for Development (SFD) on Sunday signed a $100 million loan agreement to support the...
Economy
Futuristic strategies elevate Dubai
Dubai's transformation from a humble fishing village to a global tourist powerhouse is nothing short of remarkable. Just decades ago,...
Economy
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Economy
Shekel’s decline raises economic concerns in Israel
Israeli officials show confidence in the economy's resilience amid Gaza conflict, but experts warn of challenges if tensions escalate with...
- Israeli officials show confidence in the economy's resilience amid Gaza conflict, but experts warn of challenges if tensions escalate with Hizbollah due to a declining currency.
- Economists doubt Israeli Finance Minister Bezalel Smotrich's aptness amid crisis, while Bank of Israel acts against the shekel's fall and S&P downgrades Israel's credit outlook.
Business
Arab Bank posts net profit
It posted a profit of $630 million in January-September 2023.
- The Group maintained its strong capital base with a total equity of $10.8 billion.
- Excluding the impact of devaluation of several currencies against the US dollar, loans grew by 4 percent.
Economy
Federal Reserve likely to pause interest rate hikes
The Federal Reserve will likely announce it is holding interest rates at a 22-year high on Wednesday, as it looks...
- Interest rate hikes slow down inflation by raising the cost of borrowing from the bank, which dampens economic activity and weakens the labor market.
- Since peaking at more than seven percent in June last year, inflation as measured by the Fed's favored yardstick has fallen by more than half.