Latifa bint Mohammed awards UK’s Simon Squibb with ‘One Billion Award’ at 1 Billion Followers Summit
Dubai, UAE - Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, presented the...
Business
Global workforce transformation by 2030: WEF predicts 78 million new jobs amid disruptive changes
The widening skills gap challenges employers, with over 59% of the workforce needing reskilling while millions risk redundancy due to...
Economy
Economy
SMEs in UAE confront expense management challenges
Digital solutions, including innovative expense management platforms, may help in transforming the administrative landscape for SMEs, a latest report points...
- Digital solutions, including innovative expense management platforms, may help in transforming the administrative landscape for SMEs, a latest report points out.
- Empowering employees through corporate cards fosters a culture of responsibility and accountability, facilitating seamless reimbursement processes, the report adds.
Business
Economic forum in Amman to enhance trade ties between Iraq, Jordan
AMMAN, JORDAN - The Iraqi Business Council, in collaboration with the Jordanian and Amman Chambers of Industry, is set to...
- This event aims to enhance financial, industrial and commercial partnerships among Iraq, Jordan and other countries in the region.
- The event will spotlight the myriad of investment, commercial and industrial opportunities available in Jordan and Iraq.
Business
Jordan, Tunisia to enhance trade, investment relations
AMMAN, JORDAN - The Chairman of the Amman Chamber of Commerce Khalil Haj Tawfiq has called on Jordanian and Tunisian...
- The trade between the two nations has seen significant growth over the past two years, with a notable balance in exports and imports.
- Trade volume over the last 10 months reached US$30 million, equally distributed between Jordan and Tunisia.
WEF24: AI needs to unite public and private sector
There is a need to align AI goals between public and private sectors to balance cost reduction with job creation...
- There is a need to align AI goals between public and private sectors to balance cost reduction with job creation and enhancement, Dr. Arturo Bris of IMD tells TRENDS.
- He criticizes European AI regulations for favoring corporate interests, and highlights the UAE, Singapore, Switzerland, the UK, the US, and China as AI development leaders.
Moody’s downgrades Israel’s credit rating due to Hamas conflict
Fitch -- which is the last of the big three US ratings agencies -- placed Israel on negative watch over...
- In a statement, Moody's said it had done so after assessing that "the ongoing military conflict with Hamas, its aftermath and wider consequences."
- Moody's also lowered its outlook for Israel's debt to "negative" due to "the risk of an escalation" with the far more powerful Lebanese group Hezbollah
Business
Dubai records over US$2.6bn in weeklong real estate transactions
DUBAI, UAE - A total of 3,543 real estate transactions worth over US$2.6 billion (AED9.8 billion) were conducted during the...
- A total of 3,543 real estate transactions worth over US$2.6 billion were conducted during the week ending February 9, 2024.
- A DLD report showed that 197 plots were sold for $315 million while 2,572 apartments and villas were purchased for $1.5 billion.
Business
European stocks firm as markets await US inflation data
London, United Kingdom - Europe's main stock markets steadied Friday as traders reacted to more earnings updates from top companies, while...
- Asia saw holiday-thinned trade, with investors there struggling to build on another record-setting day on Wall Street.
- While China is in holiday mode, investors are keeping tabs on Beijing, hoping for fresh measures to boost market confidence.
Business
DMCC witnesses 10 percent rise in US companies in 2023
DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in...
- DMCC sees opportunity for American businesses in Dubai after the success of the latest Economic Policy Dialogue held between the US and UAE
- The events saw 100 American executives attend in which speakers advised on the opportunities on offer to American businesses in the UAE
Economy
OPEC Fund grants US$30m loan to Uganda to build key road link
Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a...
- The construction of the road will provide better, faster and safer transport connections in the central-east region of the country
- The Islamic Development Bank (IsDB) along with the government of Uganda will co-finance the road project in the African nation
Economy
UAE real GDP to grow 5.3 percent in 2024: S&P Global
Abu Dhabi, UAE-- The UAE's real GDP will grow 5.3 percent in 2024, compared to 3.4 percent in 2023, according...
- The ratings agency said the country's high oil production and support from non-oil sectors will drive economic growth in the UAE in 2024
- The agency affirmed that several banks in the UAE achieved record profits in 2023 due to strong credit growth in a rising interest rate climate
Latifa bint Mohammed awards UK’s Simon Squibb with ‘One Billion Award’ at 1 Billion Followers Summit
Dubai, UAE - Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, presented the...
Business
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China youth unemployment jumps to 17.1% in July
Beijing, China - Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this...
Economy
Crypto crime drops 19.6% as digital ecosystem matures
Advanced blockchain analysis tools, such as those provided by Chainalysis, are empowering law enforcement agencies and enterprises to counter the...
Economy
World’s largest SWF posts $138 billion in H1 profit as AI demand boosts tech
Norway’s massive sovereign wealth fund on Wednesday posted first-half profit of 1.48 trillion kroner ($138 billion), primarily driven by robust...
Economy
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Economy
Disparities in climate action risk worsening global economic inequality, warns new report
Geneva, Switzerland – A recent report by the World Economic Forum (WEF) highlights the growing concern that unequal access to...
- The WEF’s research reveals that disparities in access to green financing pose the greatest risk to economic equity across various sectors
- The findings underline the need for a fair distribution of the costs and benefits of climate action among workers, consumers, and businesses
Economy
Saudi Arabia reforms investment law, simplifies process and investor protection to achieve $100 bn FDI target
The law will ensure equal treatment between domestic and foreign investors, protecting intellectual property and promoting fair competition in line...
- The updated investment law, approved by the Council of Ministers on Sunday, seeks to level the playing field for both domestic and international investors
- It guarantees the rule of law, fair treatment, and the freedom to transfer funds without delay, among other protections
Oil prices soar 4 percent but US inflation fears ease
U.S. crude oil prices rose over 4% on Monday, surpassing $80 per barrel, as the Pentagon deployed additional forces to...
- WTI and Brent crudes were both hovering around $80 per barrel at time of publishing
- Expectations for three-year inflation hitting a record low of 2.3%