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
GCC states raise interest rates after Federal Reserve’s hike
Most of the GCC states have raised their key interest rates in the wake of the Federal Reserve's decision to...
- The impact of higher interest rates among Gulf oil exporters in 2022 has so far been limited
- The IMF said higher oil prices are likely to lead to fiscal surpluses and growing foreign reserves for Gulf economies, which will reduce the need for governments to borrow
Economy
UAE president, Biden meet virtually to discuss energy transition
The two leaders highlighted the just announced comprehensive UAE-US initiative to accelerate the energy transition.
- The two leaders highlighted the just announced comprehensive UAE-US initiative to accelerate the energy transition
- UAE president briefed Biden on the UAE’s funding and assistance for clean energy projects on six continents
Economy
BoE set for biggest rate hike in 33 years to bring down inflation
Struggling to bring down the runaway inflation, the Bank of England is expected to hike its key interest rate on...
- The expected hike would mirror aggressive rate-tightening by central banks worldwide as economies battle the highest prices in decades
- The US Federal Reserve on Wednesday announced a fourth consecutive hike of 0.75 percentage points, taking its benchmark lending rate to 3.75-4.0 percent
Economy
Kazakhstan impounds jewels worth US$230m from ex-leader’s nephew
Almaty, Kazakhstan—Kazakhstan's anti-corruption agency said Wednesday it had seized jewels worth more than $230 million, in a case involving the nephew...
- The agency said in a statement that exclusive gems and precious stones worth 230 million US dollars were seized in "operational-search activities"
- The anti-corruption agency also said that $300 million that he had invested abroad will be "soon be given to the budget of Kazakhstan"
Economy
Saudi Arabia, Egypt discuss renewable energy cooperation
The two ministers also talked about the progress in the electrical interconnection efforts.
- The two ministers also talked about the progress in the electrical interconnection efforts
- They also discussed ways to improve cooperation between their specialized businesses
Economy
UAE, US partner to invest $100bn in renewables, clean technologies
The UAE-US Partnership for Accelerating Clean Energy (PACE), aims to produce 100 new gigawatts (GW) of clean energy in the...
- The UAE-US Partnership for Accelerating Clean Energy (PACE), aims to produce 100 new gigawatts (GW) of clean energy in the two countries
- The UAE has invested more than US$50 billion over the past ten years in clean energy technologies and solutions around the world
Geostrategy
Abu Dhabi, Kyrgyzistan’s Bishkek City sign twinning agreement
Abu Dhabi, represented by Abu Dhabi's Department of Municipalities and Transport, and Bishkek City have signed a twinning agreement to...
- As part of the city twinning agreement, the two capital cities will enable mutual exchange between delegations and the business community.
- The pact will also facilitate exchange of knowledge in urban planning and explore the feasibility of joint venture projects.
Geostrategy
UAE Minister, IMF Director discuss challenges facing MENA
UAE Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met with Director of the Middle East and Central...
- The minister underscored the importance of the IMF in enhancing the safety of the global economy.
- He said that the IMF helps in creating a stable financial environment, especially in light of the exceptional circumstances the world is facing.
Market Report
Global stocks rise on Fed optimism, zero-Covid China policy reports
Global stock markets rose as traders looked to the US Federal Reserve's interest rate decision hoping it will signal a...
- Recent reports have suggested officials are looking to dial down the pace of increases, which has sparked a rally in risk assets over the past week.
- Positive results from multinational firms also helped lift equities.
Economy
Libya aims to double oil output by 2027: National Oil Company head
Tripoli, Libya---Libya is aiming to nearly double its oil output to two million barrels per day by 2027, the head...
- Farhat Bengdara said the country, which currently produces around 1.2 million bpd, was expecting revenues of "$35-$37 billion" this year.
- The NOC chief was taking part in the ADIPEC energy conference in Abu Dhabi, where he also said he expected to sign an $8 billion deal with Italian major ENI.
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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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Saudi civil aviation authority announces economic policy of sector
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) has announced the economic policy of the civil aviation...
Geostrategy
COP28 wide open to private sector, says climate talks chief
ABU DHABI, UAE - Upcoming UN climate talks in Dubai will be open to the private sector on an unprecedented scale,...
Geostrategy
Britain grants 27 new oil and gas exploration licenses in North Sea
London, United Kingdom - Britain on Monday awarded 27 new licenses for oil and gas exploration in the North Sea as...
Economy
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Economy
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....
- PSA President Dr Saleh bin Mohammad Al Nabit emphasizes the importance of data as a national treasure.
- He highlights the role of data in crafting evidence-driven policies and tracking developmental progress.
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...
- The agreement will support the growing demand for potable water in Argentina’s provinces of Santa Fe and Córdoba
- Phase 1 of the project will develop from Coronda, in the province of Santa Fe, to San Francisco, in the province of Córdoba
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,...
- Dubai's evolution from a simple fishing village to a premier global tourist hub is credited to its innate advantages, deliberate investments, and cohesive destination development
- The emirate exemplifies visionary leadership and adaptability, attracting millions yearly, and has shown resilience during crises like 2008 financial downturn and Covid pandemic