Advanced nuclear technologies and their role in the energy transition
New policies, public trust, and partnerships are crucial to accelerating these nuclear solutions. Platforms like the Forum’s Advanced Energy Solutions...
UAE stablecoin usage up 55% yoy as new regulations drive market momentum
Stablecoins account for the largest share of crypto activity in the UAE (51%), which stands significantly higher than both Bitcoin...
Economy
Science
Jordan, Germany discuss scientific research, ties in water sector
Jordan's The Royal Scientific Society (RSS) and the Princess Sumaya University for Technology (PSUT) discussed with the German Research Foundation...
- A German Research Foundation (DFG) delegation visits Jordan and discusses scientific and research ties in the water sector.
- The delegation included 22 researchers, professors and representatives from the German Academic Exchange Service (DAAD).
Business
IHC buys 54% stake in Emircom
Firm buys stake for $68 million via its subsidiary IHC Digital
- Emircom is the Middle East’s leading information and communications technology (ICT) provider.
- This $68 million purchase comes as part of IHC’s strategy to grow its digital assets portfolio and expand into new growth areas.
Economy
Last three Turkish banks to drop Russia’s Mir bank cards
The decision follows weeks of intensifying pressure from Washington for NATO member Turkey to limit its booming economic relations with...
- Two private Turkish lenders that began processing Mir after President Erdogan met Russian counterpart Vladimir Putin in August suspended the transactions early this month
- Mir cards offer millions of Russians that vacation in Turkey each year a way to access their rubles and pay for everything from restaurants to hotels
Economy
WTO chief warns world edging into ‘global recession’
WTO Director-General Ngozi Okonjo-Iweala said Russia's war in Ukraine, the climate crisis, food price and energy shocks plus the aftermath...
- She noted that the World Bank and the International Monetary Fund had both downgraded global growth forecasts, while indicators on trade numbers were "not looking too good".
- She urged central banks to determine whether inflation was being caused by strong demand or whether the rise in prices was linked to structural problems on the supply side.
Economy
Saudi Arabia ranks first in G20 visitors flow rating: report
According to the report, the number of foreign tourists visiting the kingdom has surged 121 percent from January to July...
- According to the report, the number of foreign tourists visiting the kingdom has surged 121 percent from January to July 2022
- Saudi tourism sector is currently recovering from the fallout of the pandemic following preventive measures taken by the government
Economy
ADB boosts Asia-Pacific food security financing to $14 billion
The bank, which has 49 members stretching from the Cook Islands in the Pacific to Kazakhstan in Central Asia, usually...
- The financing would target among other things food production and distribution. ADB says 1.1 billion people in the region "lack healthy diets due to poverty and food prices".
- The announcement comes after the bank recently cut its 2022 growth forecast for the region, to 4.3 percent from its April projection of 5.2 percent.
Economy
In wealthy Dubai, poor get free bread from machines
Ten vending machines were installed last week in supermarkets, with a computer touch screen allowing people to select different types:...
- According to government figures, the food price index, which tracks the monthly change in the cost of a basket of food commodities, rose by 8.75% in July YoY.
- The UAE has a population of nearly 10 million people, 90 percent of them foreigners, many labourers from Asia and Africa.
Nord Stream 1 gas pipeline hit by leaks in Baltic Sea: authorities
Following the leaks, Jorgensen said the authorities called for "higher levels of preparedness in the electricity and gas sector" in...
- The Nord Stream 1 leaks were first spotted Monday evening, hour after a drop in pressure was reported in Nord Stream 2, according to the Swedish Maritime Administration
- As a result of the leaks, navigational warnings have also been issued for a distance of five nautical miles and a flight height of 1,000 meters
Economy
Lebanon approves budget, a key condition for IMF bailout
Prodded by the IMF to implement reforms, Lebanon's parliament has approved the 2022 budget setting expenditures at $1.2 billion. The...
- Lebanon is in the throes of an economic meltdown that the World Bank has branded one of the world's worst crises in modern times
- The IMF has conditioned its loan on a series of measures, including the approval of the budget as well as reforms to bank secrecy laws, restructuring the banking sector
Economy
UAE to relax COVID-19 restrictions from Sept. 28
The UAE will be relaxing COVID-19 restrictions nationwide which will come into effect starting September 28. Dr. Saif Al Dhaheri,...
- Official websites of the Ministry of Health and Prevention, the Federal Competitiveness and Statistics Centre and NCEMA will continue to issue updated data.
- COVID-19 daily cases announcement will be discontinued.
Advanced nuclear technologies and their role in the energy transition
New policies, public trust, and partnerships are crucial to accelerating these nuclear solutions. Platforms like the Forum’s Advanced Energy Solutions...
Company News
Ma’aden, BADC ink agreement
Business
Latest News
Solana Foundation joins DMCC Crypto Center as ecosystem partner
DUBAI, UAE: DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has...
Economy
Early economic measures tame Saudi inflation at 1.7% in Sept: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia's Consumer Price Index (CPI) increased by 1.7 percent in September 2023, compared to September...
Business
Dubai’s economy grows 3.2 percent in H1 2023
DUBAI, UAE – The Emirate's economy grew 3.2 percent in H1 2023 to reach US$60.9 billion (AED223.8 billion). The performance...
Economy
Most Read
Economy
Collaboration crucial for renewable energy transition
"World peace and security, along with social, economic, and political stability, hinge on two pivotal factors: addressing climate issues and...
- The UAE is actively supporting global efforts to mitigate the effects of climate change at both regional and international levels
- World peace, security and stability hinge on addressing climate issues and investing in clean and renewable energy sources
Geostrategy
IMF agrees on rise in funding, extra Africa board seat
The IMF announced member nations agreed to increase their contributions to the global lender and give sub-Saharan Africa a third...
- The quotas, which are based on the size of a country's economy, determine how much funding a nation should provide to the IMF.
- IMF chief Kristalina Georgieva and World Bank President Ajay Banga used this week's meetings to urge members to step up funding.
Geostrategy
UAE, South Korea ink MoU to enhance air transport relations
ABU DHABI, UAE - The United Arab Emirates, represented by the General Civil Aviation Authority (GCAA), has signed a Memorandum...
- This MoU includes an agreement to increase the number of national carrier flights between the two countries to 21 flights per week.
- The signing of this MoU followed discussions held in Seoul on October 12 and 13, 2023, with representatives from both countries' aviation sectors.