UAE labour market transforms with AI revolution and growing demand for high-skill professions
The country is among the most attractive markets for skilled global professionals and talent, thanks to its competitive advantages, including...
Economy
Study: Legacy technology not impeding adoption of AI and Machine Learning in UAE and Saudi Arabia
Manufacturers see AI as critical for decarbonization (66%), improving ESG scores, energy monitoring (55%), advancing digital twins (68%), and enabling...
Economy
Geostrategy
GCC condemns German minister’s remarks on Doha World Cup
The secretary general of the Gulf Cooperation Council condemned remarks by Germany's interior minister on the World Cup due to...
- GCC chief Nayef al-Hajraf expressed support for Qatar in a statement published on the council's website.
- The six-member Gulf bloc backs Doha in addressing any interference in its internal affairs, the GCC chief said.
Geostrategy
Russia suspends participation in Ukraine grain deal
Russia suspended its participation in a pact that allowed grain exports from Ukraine, blaming alleged drone attacks on Russian ships...
- The Turkey and UN-brokered deal to unlock grain exports signed between Russia and Ukraine in July is critical to easing the global food crisis caused by the conflict.
- Russia had recently criticized the deal, saying its own grain exports have suffered due to Western sanctions.
Market Report
Gulf indices ease as China COVID curbs hit oil prices
Stock markets across the GCC remained less enthusiastic as oil, which fuels the region's growth, declined amidst fresh coronavirus scare.
- Gulf stock exchanges declined during the last two trading days.
- The Dubai Financial Market fell 49 points for this week as a whole, or 1.4 percent, compared to last week,
Geostrategy
‘EU froze Russian assets worth US$17bn since Ukraine war began’
The European Union has frozen Russian assets worth around $16.9 billion since Moscow invaded Ukraine, EU Justice Commissioner Didier Reynders...
- The figure has risen from the roughly US$13.7 billion from oligarchs and other entities that the EU had frozen and announced in July.
- So far, the assets of 90 people worth more than $16.9 billion in seven members, including $2.1 billion in Germany, have been frozen.
Geostrategy
Jordan to host renewable energy investment forum
AMMAN, JORDAN - Amman is scheduled to host the Seventh International Investment Forum for Renewable Energy and Energy Efficiency in...
- The forum will discuss over three days many important and vital issues on various fields of renewable energy, energy efficiency, green hydrogen.
- The forum's themes will also cover innovative agricultural patterns, energy management, carbon trading.
Geostrategy
Jordan cabinet reshuffle aims at modernization plans
Jordan's cabinet reshuffle is a mandate for the government to work within the Kingdom's three modernization tracks, launched at the...
- The plans include political, economic and public sector modernization.
- The new tasks for the government are streamlining performance, improving public service, attracting investment and economic development.
Economy
UN chief appeals for extension of Ukraine-Russia grain deal
Calling on "all parties" to make every effort to extend the agreement on Ukrainian grain exports, UN Secretary-General Antonio Guterres...
- The initial agreement was set to last 120 days, with the option for renewal on November 19 "if no party objects," Guterres' spokesman Stephane Dujarric noted Friday
- Russian ambassador to the UN Vassily Nebenzia told reporters Thursday that Russian exports must be allowed to go through before Moscow will commit to an extension of the deal
Economy
UAE makes amendments to value added tax rules
Abu Dhabi, UAE— The UAE Ministry of Finance announced amendments to some provisions of the Federal Decree-Law No. 8 of...
- The amendments were made are in line with international best practice in light of the GCC Unified VAT Agreement
- They are based on past experiences, challenges faced by various business sectors as well as the recommendations received from the relevant parties
Economy
UAE consumers hold the purse strings as soaring inflation affects wages, wealth and purchasing power
Consumers in the Gulf country plan to adjust their lifestyle by reducing their household and miscellaneous expenses over the next...
- Consumers in the Gulf country plan to adjust their lifestyle by reducing their household and miscellaneous expenses over the next three months, a latest survey points out
- When asked in which segments they will reduce spending on over the next three months due to rising prices, 26 percent of those polled cited clothing as the top area, it adds
Business
DFSA signs agreement with Bangladesh SEC
DUBAI, UAE - The Dubai Financial Services Authority (DFSA) has signed a Memorandum of Understanding (MoU) with the Bangladesh Securities...
- The MoU was signed by Chief Executive of the DFSA Ian Johnston and Chairman of the BSEC Professor Shibli Rubayat Ul Islam Friday in Dubai.
- The agreement provides a framework for facilitating cross-border collaboration between the two bodies on supervision and enforcement actions.
UAE labour market transforms with AI revolution and growing demand for high-skill professions
The country is among the most attractive markets for skilled global professionals and talent, thanks to its competitive advantages, including...
Economy
Company News
Latest News
NMDC, AD Ports Group ink MoU
The firms will continue to work closely on future global projects.
Business
Bilateral trade in 2023 to overtake 2022 figures, says Canada’s envoy to UAE
ABU DHABI, UAE - Trade between the two countries is on an upswing with volumes this year expected to surpass...
Geostrategy
Foreign investments rise in NE China due to several projects
SHENYANG, CHINA – Investments in the country’s northeast have grown over the past years as several multinational corporations put in...
Business
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Interview
‘Digitization, AI reshape sports and health investments’
AI will play a major role in improving sports performance and health sector advancements, Thomas H. Rudy of leAD Sports...
- AI will play a major role in improving sports performance and health sector advancements, Thomas H. Rudy of leAD Sports & Health Tech Partners tells TRENDS.
- Rudy envisions Saudi Arabia as a major player in health and sports investments, citing examples from golf and football and predicts substantial growth in team values.
Economy
Saudi Arabia to produce 80-90% insulin domestically
"More than 200 essential medications have been identified, making up about 40 percent of the total purchases by government health...
- Saudi Arabia is making strides in its pharmaceutical sector, with aims to produce 80 to 90 percent of its insulin domestically
- At the Global Health Forum, key agreements were inked, spotlighting the Kingdom's commitment to medical biotechnology
Geostrategy
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...
- The economic policy aims to increase the operational performance of the Kingdom's airports and improve the performance of national carriers.
- This is to help change the Kingdom into a global destination for transport and shipping services by providing infrastructure attractive to foreign investment.