Putin thanks UAE president for positive role in prisoner exchange with Ukraine
UAE President Sheikh Mohamed meets his Russian counterpart Vladimir Putin to discuss bilateral ties and Middle East. Sheikh Mohamed will...
Tech helps Singapore economy top forecasts in third quarter
Singapore's economy grew more than expected in the third quarter as a rush for everything related to artificial intelligence drove...
Economy
Economy
German coastal state goes to polls amid acute energy crisis
Frankfurt, Germany— Germans in the coastal state of Lower Saxony vote in a closely-watched regional election Sunday, seen as a key...
- Anxiety about soaring energy bills has dominated the race in the northwestern region on the North Sea, providing a snapshot of the national mood
- One major bone of contention between the leading candidates has been the fate of Lower Saxony's Emsland nuclear power plant, one of only three still operational in Germany
Economy
Sharjah tourism body to highlight AI, technology in tourism
Sharjah Commerce and Tourism Development Authority (SCTDA) has confirmed its participation at the 42nd GITEX Technology Week, to be held...
- The authority will showcase new projects and emerging prospects in Artificial Intelligence and Metaverse.
- SCDTA will highlight the innovative use of technologies and their impact on hospitality, tourism and commerce.
Science
DEWA invites proposals for work on sixth phase of solar park
Dubai Electricity and Water Authority (DEWA) has invited international developers to send their Expressions of Interest (EOI) to implement the...
- The 900 MW sixth phase of the Solar Park will be implemented using photovoltaic solar panels.
- The production capacity of clean energy has reached about 12.1 percent of Dubai’s total energy mix.
Economy
‘Unit 3 of Barakah Plant linked to UAE’s transmission grid’
The Emirates Nuclear Energy Corporation (ENEC) announced that Unit 3 of the Barakah Nuclear Energy Plant has successfully been connected...
- Unit 3 will add another 1,400 megawatts of zero-carbon emission electricity capacity to the national grid.
- The nuclear sector is a vital part of the UAE’s clean energy system of multiple low-carbon technologies.
Economy
Iraq economic growth hampered in absence of government, budget
It remains without not only a new government but a budget too, obstructing much-needed reforms and infrastructure projects in the...
- The government can't invest that money without an annual state budget, which Mustafa al-Kadhemi is not authorised to submit to parliament in his capacity as caretaker PM.
- Former finance minister Ali Allawi, who had prepared a reform plan that never materialised, blamed the "political framework" for obstructing progress.
Economy
US job gains slow, but not enough to ease inflation worries
President Joe Biden, who has seen his approval erode in the face of surging prices, cheered the data as a...
- The economy added 263,000 jobs last month, showing a steady slowdown from the blistering pace in 2020 and 2021
- Over the past 12 months, average hourly earnings have increased by 5.0 percent, still high but a slowing from the pace seen over the past year
Islamic Development Bank raises $1.6b from Sukuk issuance
An IsDB official said proceeds were used to finance projects to recover from the COVID-19 pandemic, reduce poverty etc.
- An IsDB official said proceeds were used to finance projects to recover from the COVID-19 pandemic, reduce poverty etc
- The AAA-rated issuance was executed in line with the bank’s $4.1 billion financing plan for 2022
Business
Dubai records weeklong real estate transactions worth $1.92 billion
Dubai, UAE--- A total of 1,809 real estate transactions worth AED7.3 billion ($1.92 billion) were conducted during the week ending...
- A total of 98 plots were sold for AED975.52 million, and 1,711 apartments and villas were purchased for AED4.47 billion.
- The mortgaged properties for the week reached AED1.47 billion, while 157 properties were granted between first-degree relatives worth AED418.56 million.
Business
Dubai to unveil METADAFZ for better metaverse experience
The facility will enable clients globally to conduct meetings via a virtual platform, offering a unique and semi-realistic experience.
- The facility will enable clients globally to conduct meetings via a virtual platform, offering a unique and semi-realistic experience
- DAFZ is likely to announce the launch at GITEX 2022, to be held from October 10-14 at the Dubai World Trade Centre
Economy
Germany pledges 413.9m euros in development aid to Jordan
The Jordanian-German discussions covered a wide range of vital sectors including education, water and renewable energy
- The Jordanian-German discussions covered a wide range of vital sectors including education, water and renewable energy
- The aid also comprises 15 million euros as an additional grant for the National Water Carrier Project
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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
Putin thanks UAE president for positive role in prisoner exchange with Ukraine
UAE President Sheikh Mohamed meets his Russian counterpart Vladimir Putin to discuss bilateral ties and Middle East. Sheikh Mohamed will...
Company News
Latest News
Security risks hit gas flow amidst Israel-Hamas row
Israeli decision to suspend gas supply from Tamar field due to security concerns affects energy and gas sector, resulting in...
Red Sea Global builds largest off-grid EV charging network in Saudi Arabia
RIYADH, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, Amaala...
Business
UAE invests $36bn in renewable energy projects in 2022, says ADDED chairman
ABU DHABI, UAE - Chairman of the Abu Dhabi Department of Economic Development (ADDED) Ahmed Jasim Al Zaabi has said...
Economy
Most Read
Economy
Global CEOs rank political uncertainty as biggest risk to business
Dubai, UAE-- CEOs from around the world consider geopolitics and political uncertainty as the greatest risk to the growth of...
- The findings of the survey undertaken by KPMG noted that CEOs worried about the effect of political uncertainty on business growth
- The top-notch executives recognize AI’s seemingly limitless potential and are keeping their foot on the gas in terms of their investment
Analysis
Israel-Gaza conflict creates global economic ripples
As Israel grapples with the surprise Hamas action and global community gauges economic ramifications, the future of Israel's relations with...
- As Israel grapples with the surprise Hamas action and global community gauges economic ramifications, the future of Israel's relations with its neighbors hangs in the balance
- World Bank emphasizes the economic repercussions of the conflict, while the OECD projects Israel's 2024 GDP growth at 3.3%; Lebanon's crisis may worsen with Hizbollah's role
Economy
GCC states post 7.3 percent GDP growth in 2022: Albudaiwi
Marrakech, Morocco-- In spite of economic disruptions, policymakers in the GCC countries have successfully alleviated the economic ramifications of the...
- The secretary general was speaking at the Arab governors' meeting with the President of the World Bank Group, Ajay Banga, in Morocco
- He warned that economic challenges present a risk to the mutual objective of a poverty-free world characterised by sustainable development