How city governments can foster tech-sector growth without breaking the bank
City governments are usually equipped to promote their cities through websites, newsletters, communications, as well as hosting delegations visiting from...
How public-private partnerships can ensure ethical, sustainable and inclusive AI development
Public-private partnerships (PPPs) address AI bias by combining ethical guidelines with technological auditing tools. Governments set accountability frameworks, and companies...
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
Economy
IMF to provide Ukraine with $1.3 billion emergency aid
The package will help meet Ukraine's "urgent balance of payment needs... while playing a catalytic role for future financial support...
- The IMF also said Ukrainian authorities deserve considerable credit for having maintained an important degree of macro-financial stability
- IMF Managing Director Kristalina Georgieva said that key policies have been geared toward safeguarding priority expenditures and preserving financial stability
Business
OPEC+ output cut ‘a snub’ to Biden and United States
While Saudi Arabia has said it does not use oil as a political tool, US experts see this as a...
- The move may have ‘serious consequences’ for Saudi Arabia and irreparable damage to its relationship with the Biden administration, warn analysts
- Economists in Europe, meanwhile, worry that the OPEC+ decision to cut oil production will deepen the continent’s economic and energy woes
Business
Delegations from France, Italy visit Expo Center Sharjah
Delegations from France and Italy have visited the Expo Center Sharjah to discuss ways to strengthen cooperation and exchange expertise...
- The meetings were held on the sidelines of the 50th edition of the Watch & Jewelry Middle East Show.
- The delegations toured the exhibition and looked into ways to work with the center.
How city governments can foster tech-sector growth without breaking the bank
City governments are usually equipped to promote their cities through websites, newsletters, communications, as well as hosting delegations visiting from...
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Tourism prowess makes Riyadh top World Expo choice
In its bid to boost tourism, the Saudi capital blends historical charm with modernity, spotlighting its rich heritage, architecture, cuisine,...
Economy
Qatar eyes North Field to boost liquefied gas output
Qatar plans a 60% boost in liquefied gas production by 2027 through North Field expansion, tapping the world's most substantial...
Economy
PIF announces pricing of inaugural $3.5bn global sukuk issue
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) on Thursday successfully priced its first dollar-denominated Shariah-compliant trust certificates (sukuk)....
Business
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Markets in retreat on growing fears of Middle East war
With Benjamin Netanyahu building up a huge force ahead of an expected land incursion into Gaza, Iran has warned of...
- The prospect of an all-out war pushed oil prices up Wednesday, though Washington's decision to suspend some sanctions on Venezuelan output tempered the gains
- Risk aversion among traders was increased by concerns the Federal Reserve would hike interest rates again, or at least keep them elevated for an extended period
Business
Saudi Central Bank to collaborate with monetary authority of Singapore in fintech
Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) signed an agreement with the Monetary Authority of Singapore (MAS) on...
- The agreement seeks to facilitate activities of both organizations in international markets
- It will also provide a framework for cooperation between their innovation departments
Economy
China’s Xi announces over $100 billion in new Belt and Road funding
Beijing has been forced to hand out billions of dollars in bailout loans to BRI countries in recent years to...
- The Belt and Road is a central pillar of Xi's bid to expand China's clout overseas, with Beijing saying it has now inked over two trillion dollars in contracts around the world
- Xi announced on Wednesday that key Belt and Road lenders the China Development Bank and the Export-Import Bank will now offer an additional $100 billion in loans