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
3 ways travel drives economic growth while enhancing global connections and sustainability
WTTC research shows that, having endured estimated losses of $4.5 trillion and 62 million jobs in 2020 alone, travel and...
Economy
Oman’s CPI inflation rate rises 2.4 percent in September
MUSCAT, OMAN - The inflation rate of Consumer Price Index in Oman reached 2.4 percent during September 2022. A monthly...
- The report noted prices of education group increased by 5.1 percent.
- The prices of health group and food group surged by 3.5 percent and 5 percent respectively.
Geostrategy
Lebanese lawmakers fail to pick President for fourth time
Already governed by a caretaker cabinet, crisis-hit Lebanon is hurtling towards an imminent power vacuum, with just days before the...
- A total of 50 lawmakers in Lebanon's 128-seat parliament left their votes blank, many from the Iran-backed Hezbollah.
- Parliament speaker Nabih Berri called for another vote on Thursday in the hope of overcoming long-running arguments.
Market Report
Most markets up but China fear casts shadow
Most markets rose on hopes the Federal Reserve would soon slow its pace of interest rate hikes, though the mood...
- Tokyo, Sydney, Seoul and Taipei led gains after a strong performance in New York.
- The rise was sparked by a report the Fed could begin to take its foot off the pedal in its rate hike campaign.
Business
Credit Suisse to pay $234m fine
Bank to pay fine on money laundering, tax fraud charges.
- Credit Suisse said it had reached the settlement to resolve a legacy matter in relation to investigation into historical cross-border private-banking services.
- The bank added that the settlement does not comprise a recognition of criminal liability.
Economy
Moroccans protest against cost of living crisis
The protest was organized by the country's main trade union, the UNTM, which is close to the Justice and Development...
- The rally, outside parliament and witnessed by AFP journalists, came after several protests already this week in Rabat and other Moroccan cities
- Consumer price inflation was 8.3 percent year-on-year in September, due in large part to surging food prices, which were up 14.7 percent
Economy
Eurozone downturn deepens as Germany heads for recession
Economic activity in the eurozone plummeted further in October and Germany, the EU's top economy, looks headed for a recession,...
- The S&P Global Flash Eurozone purchasing managers' index (PMI) fell to 47.1 for October, down from 48.1 a month earlier, as soaring inflation and high energy prices buffeted Europe
- The survey showed that both manufacturing and services in Germany were showing accelerated rates of shrinkage, though that had yet to feed through into jobs-shedding
Economy
Qatar market braces for football World Cup boom
Crowds are already growing as a World Cup buzz mounts. Fan zone attractions and temporary stores are being set up...
- The narrow alleys of the century-old Souq Waqif will be a magnet for the one million football followers expected at the tournament
- Devastated by a major fire in 2003, most of it has been rebuilt with arched pedestrian alleys, as part of a project to regenerate central Doha
Geostrategy
Boris Johnson drops out of race for UK PM
Declaring an end to his bid for the UK top job, former UK PM Boris Johnson said that he had...
- Tories have been forced into a second leadership contest since the summer following Truss's resignation after only 44 disastrous days into her tenure
- Sunak had raced ahead in the count for Tory MPs' support, drawing backing from across the parliamentary party and crossing the minimum threshold Friday
Economy
Qatar’s General Tax Authority launches digital tax stamp
The authority said that digital tax stamps are distinctive marks in the form of a physical label or digital code...
- The authority said that digital tax stamps are distinctive marks in the form of a physical label or digital code containing encrypted data
- The digital tax stamp on goods will enable monitoring and tracking of the movements of these goods within the Qatari market
Interview
Private sector plays key role in FIFA Cup projects
There is a need for concerted efforts by citizens and residents to make this global event a success, Sheikh Khalifa...
- Qatar has become a leading global investment destination, says Qatar Chamber Chairman Sheikh Khalifa bin Jassim bin Mohammed Al-Thani
- The World Cup Qatar 2022 will leave a unique imprint in the history of the FIFA World Cup, he says, adding that Qatari economy is expected to grow by 4.9%
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
Company News
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NEOM to set up education, research and innovation center
Arts & Culture
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...
Economy
Buildings should absorb more carbon than they release
"Buildings should produce more clean energy than they consume. This transformation demands a reevaluation of our relationship with nature. Rather...
Economy
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Economy
Tech development must be ethical, inclusive: Scientist
Interdisciplinary discussions can help in guiding ethical tech development for the greater good, Karen Hallberg of Argentina's Bariloche Atomic Centre...
- Interdisciplinary discussions can help in guiding ethical tech development for the greater good, Karen Hallberg of Argentina's Bariloche Atomic Centre tells TRENDS.
- Hallberg highlights the technological divide between the Global North and South, emphasizing the urgency for regulations and diverse voices in tech dialogues.
Geostrategy
Middle East conflict may disrupt global trade routes
Recent developments spark concerns that the conflict, which is spreading across the region, presents a long-term threat to global energy...
- Recent developments spark concerns that the conflict, which is spreading across the region, presents a long-term threat to global energy and commercial infrastructure.
- IMF's Kristalina Georgieva and World Bank's Ajay Banga stress economic vulnerabilities and development impacts amid volatile oil prices potentially surpassing $100 per barrel.
Geostrategy
Iran, Russia to invest $38bn in developing INSTC
TEHRAN, IRAN – The Iranian head of Solyanka Port in Russia said that the International North-South Transport Corridor (INSTC) is a...
- The Iranian head of Solyanka Port spoke of the measures taken by the Islamic Republic of Iran Shipping Line (IRISL ) to develop the INSTC route.
- The IRISL group purchased 30 rail wagons, 5,400 containers and ordered the construction of 21 equipped vessels for strengthening maritime routes.