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...
GCC powers ahead in global clean energy transition with solar and hydrogen investments
Now, the region is turning its attention to newer innovations, including hydrogen production, small modular reactors (SMRs), and compact nuclear...
Geostrategy
Turkey, Libya sign maritime hydrocarbons agreement
Turkey's foreign minister signed a deal in Libya's capital Monday allowing for oil and gas exploration in 'Libyan waters'.
- The deal follows an agreement Turkey signed with authorities in Tripoli in 2019, which demarcated the countries' shared maritime borders.
- The deal came at the height of a year-long battle between rival governments vying for control of the capital.
Geostrategy
UAE takes part in G20 Finance Track in Indonesia
UAE's Ministry of Finance (MoF) participated in the third Framework Working Group (FWG) meeting within the G20 Finance Track for...
- The meeting was held in Indonesia and sought to discuss key global economic issues.
- G20 members, invited non-G20 member countries, representatives of the World Bank, IMF, and OECD also attended the meeting.
Economy
UAE Ministry of Emiratization launches Customer First forum
UAE Ministry of Human Resources and Emiratization has launched the Customer First Forum, comprising virtual sessions on a weekly basis...
- The Customer First Forum aims to take feedback of all parties on the labor market legislations.
- It also seeks to enhance direct communications between the ministry and the private sector.
Economy
Turkey reels from surging inflation as it hits 24-year high
Turkish inflation jumped to a new 24-year high exceeding 83 percent in September, official data showed Monday after the central...
- President Recep Tayyip Erdogan, who has focused on growth ahead of a general election in June, has repeatedly railed against higher rates, calling them his "biggest enemy"
- The TUIK state statistics agency said Monday that consumer prices rose by 83.45 percent in September on an annual basis, up from 80.2 percent in August
Economy
Number of visitors to Qatar rise by 138.3% in August
The highest number of visitors was from the GCC countries at 59 percent.
- The highest number of visitors was from the GCC countries at 59 percent
- As for visitors by type of port, the visitors via Air make up the highest percentage
Economy
UAE’s latest bet on tech: a ministry in the metaverse
In a project launched at Dubai's gleaming Museum of the Future, it announced that the UAE's economy ministry was setting...
- Representatives of tech giants mingled with entrepreneurs exploring the potential of the metaverse, a network of digital spaces intended as an extension of the physical world
- The UAE has already introduced a law governing virtual assets and a regulatory body for cryptocurrencies while welcoming major crypto exchange platforms
Economy
Fed up of perennial power cuts, Gaza turns to solar
For most of Gaza's 2.3 million residents, living under a 15-year-old Israeli blockade, power cuts are a daily fact of...
- Gaza bakery owner Bishara Shehadeh began the switch to solar this summer, by placing hundreds of gleaming panels on his rooftop
- Green energy advocates say that solar energy is a vision for a global future as the world faces the perils of climate change and rising energy costs
Business
Crude prices surge as top producers plan to slash output
The jump comes after both main contracts suffered hefty losses in recent months on demand fears caused by an expected...
- WTI climbed 3.3 percent to $82.12 and Brent also piled on 3.3 percent to $87.94 ahead of a meeting of the group this week in Vienna
- The reduction in production -- which delegates to OPEC said had not been finalized -- would be the biggest since the pandemic began when crude prices collapsed
Economy
Saudi Arabia holds GCC meeting to boost economic ties
Saudi Arabia hosted a meeting of the GCC Financial and Economic Cooperation Committee to broaden economic cooperation among the GCC...
- The meeting was held under the chairmanship of Minister of Finance Mohammed bin Abdullah Al-Jadaan
- It reviewed a host of issues related to enhancing financial and economic cooperation among the GCC countries besides discussing the impact of the world economic crisis
Economy
IMF likely to open regional office in Saudi Arabia
IMF expects the Kingdom to become one of the world's fastest-growing economies, recording a growth of 7.6% this year
- IMF expects the Kingdom to become one of the world's fastest-growing economies, recording a growth of 7.6% this year
- Credit rating agency S&P has already affirmed Saudi Arabia’s rating at “A-/A-2” with a positive outlook citing higher oil revenues
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...
Company News
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4.4m travel by SAR in H1 2023
Business
MENA banking sector records 30% surge in net profits in H1 2023
Dubai, UAE - The Middle East and North Africa (MENA) banking sector has witnessed a remarkable 30% year-on-year increase in...
Business
‘Qatar prioritizes fiscal control to sustain growth’
"Factors such as robust fiscal discipline supported by strong oil prices, debt reduction efforts by the Ministry of Finance, and...
Economy
UAE Minister Al Gergawi backs ‘curiosity’ and ‘equity’ at World Economic Forum
Dubai, United Arab Emirates – Considering opposing views, exchanging ideas and developing pathways for collaboration are essential to improving lives...
Economy
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Business
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...
- The network includes more than 150 charging stations spread across phase one of The Red Sea destination area.
- The stations are placed to keep RSG’s initial fleet of 80 electric Lucid and Mercedes vehicles charged and on the road.
Economy
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...
- The UAE has successfully enticed a staggering US$23 billion in 2022, up 10 percent from 2021, to be ranked 16th globally in FDI attraction.
- UAE is now the world's fourth-largest recipient of greenfield projects, with nearly a thousand ambitious ventures announced last year.
Business
Tokyo shares tumble on concern war in Palestine may escalate
Chip-testing equipment maker Advantest sank 4.79 percent to 4,351 yen and chip-making equipment manufacturer Tokyo Electron gave up 3.84 percent...
- The benchmark Nikkei 225 index dropped 2.03 percent, or 656.96 points, to 31,659.03, while the broader Topix index slipped 1.53 percent, or 35.21 points, to 2,273.54
- Traders sold shares across the board, as Israel moved toward launching ground offensive in Hamas-controlled Gaza, which is already facing a deep humanitarian crisis