World Economic Forum unveils framework highlighting transformative technology convergences across key industries
Agentic AI, spatial intelligence and robotic advancements in manipulation and adaptive control are enabling autonomous systems to make intelligent decisions...
Economy
ADNOC expands its STEM Education Programme to empower UAE students in AI
Abu Dhabi, UAE – ADNOC has expanded its Science, Technology, Engineering and Mathematics (STEM) education programme to empower UAE students...
Geostrategy
Chinese leaders seek ways to boost economy in key event
Beijing, China - China's leaders on Monday wrapped up a week-long key conclave at which they admitted more was needed to...
- Top officials have been upfront about the myriad challenges China is facing, admitting that a modest five percent growth goal will not be easy
- The event capped a week of high-level meetings dominated by the economy, which last year posted some of its slowest growth in years
Business
Jafza reports 28% year-on-year growth in 2023 of new Indian companies
DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the...
- Over 190 new Indian businesses and a total of more than 1,500 Indian companies have set up business in Jafza.
- This move aims to assist Indian businesses in accessing markets across the Middle East, Africa, and Europe.
Economy
Residential demand buoyed Qatar’s property sector in 2023
Doha, Qatar - Residential demand continued to buoy the country's property sector in Q4 2023, hapondo, a homegrown property portal,...
- The report pointed out that despite a decrease in real estate transaction volume to $4.6 billion from $5.82 billion, apartments remained popular for investment
- Key residential highlights included the Marina District in Lusail, while The Pearl remained the most sought-after location for apartment seekers
Economy
UAE and Greece hold talks to widen economic cooperation
Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...
- Al Jaber held several bilateral meetings with Kyriakos Mitsotakis, PM of Greece, George Gerapetritis, Minister of Foreign Affairs, and Kostas Skrekas, Minister of Development
- The two sides discussed means of fostering cooperation within the UAE-Greece CEPA agreement, signed during the visit of the Greek PM's to the UAE in 2020
Economy
Iran agricultural, food exports hit US$5.5bn in 11 months
TEHRAN, IRAN – The Ministry of Industry, Mine, and Trade said that Iran exported fisheries, livestock, agricultural and food products...
- Iraq was the biggest importer of Iranian agricultural and food products worth US$1.7 billion.
- The UAE was the second largest importer of Iranian agricultural and food products worth $675 million
Economy
GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...
- The fourth quarter 2023 results and the annual results for the same year have been reached at by using the new methodology.
- Saudi Arabia is the first country in the Gulf and Arab regions, and among the first G20 countries, to implement the chain-linking methodology.
Economy
A greener globe requires a greener industry, says Chinese industry leader
Beijing, China-- A greener globe requires a greener energy industry, which could definitely be represented by new quality productive forces...
- Zhong said renewable energy, wind power, and green hydrogen production could achieve zero carbon dioxide emissions from the source
- The annual growth rate, as per the International Renewable Energy Agency, of global hydrogen trade is expected to reach 8 percent by 2050
Business
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
- During the first two months of 2024, India, the US, Saudi Arabia and Iraq accounted for the majority of ACI’s exports.
- The chamber's exports to the US surged during the first two months of 2024 to about US$297 million compared to US$275 million.
Geostrategy
High inflation leaves Nigeria struggling ahead of Ramadan
Lagos, Nigeria - The holy fasting month of Ramadan begins early next week in Nigeria, with the worst economic crisis in...
- With food inflation at around 35 percent, worshipers taking part in Friday prayers at the central mosque in Lagos said they were barely able to provide for their families
- The government brought in reforms last year that have had a devastating effect on citizens of Africa's biggest economy, where around half the population is Muslim
Economy
Tunisian economic crisis mutes build-up to Ramadan
Tunisians usually prepare for Ramadan -- when daytime fasting is followed by festive but often costly meals with family and...
- Economist Ridha Chkoundali says Tunisia is "experiencing a period of stagflation, which means a decline in growth and a rise in inflation"
- Tunisian banks are being asked by the state to finance the country's debt amounting to 80 percent of GDP, undermining their ability to lend to the private sector
World Economic Forum unveils framework highlighting transformative technology convergences across key industries
Agentic AI, spatial intelligence and robotic advancements in manipulation and adaptive control are enabling autonomous systems to make intelligent decisions...
Economy
Company News
Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria
World Economic Forum
Latest News
Building an anticipatory governance strategy for an increasingly risky world
Anticipatory governance is crucial in navigating today’s risks. While AI tools enhance forecasting, early warning does not always lead to...
Economy
Building Smart Cities Starts with Listening to People
Successful smart cities address real challenges, like Mexico City’s digitalization of government services.
Economy
Tech and sustainability drive Singapore’s smart tourism vision
To realize its vision for “smart tourism”, Singapore Tourism Board is leveraging cutting-edge technologies like artificial intelligence, data analytics, and...
Interview
Most Read
Analysis
Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
- The logistics market revenue in 2023 was US$485 billion by airways, US$2.85 trillion by waterways, US$2.09 trillion by railways and US$3.52 trillion by roadways.
- In the Arabian Gulf countries, the focus of the logistics and transport industry is moving from the UAE to Saudi Arabia.
Economy
Turkey central bank cuts rate to 42.5% as inflation eases
Istanbul, Turkey - Turkey's central bank on Thursday lowered its key interest rate for a third consecutive time as inflation...
- This is the third time the central bank cut its rate since December as its efforts to tame inflation are paying off
- Consumer prices rose by 39.05 percent last month, down from 42.1 percent in January, according to the country's statistics institute
Interview
The future of luxury residential development needs to be green and smart
The GCC luxury market segment has experienced significant growth, driven by an increase in the number of high-net-worth individuals. Accommodating...
- In the GCC, there's also a real focus on community. Dubai is the United Nations of the world, wherein one residential building might have neighbors from different nations.
- We try to future-proof our building, technologically speaking, to allow people to evolve and go forward, says Belton.