How Pakistan is becoming a top tech hub in the GCC
Pakistan's IT sector is thriving, with growing exports and recognition as a tech hub, driven by government support, skilled talent,...
Economy
US Fed chair expected to signal support for rate cuts
The annual Jackson Hole Economic Symposium in the US state of Wyoming gives Powell a global platform to enlighten financial...
Economy
Geostrategy
Putin accuses European Union of blocking Russian fertilizer
Putin accused the European Union of blocking 300,000 tons of Russian fertilizer from reaching the world's poorest countries. "Our offer......
- In July, an agreement was signed which allowed Russia to export its agricultural products and fertilizer despite Western sanctions.
- The West imposed a litany of sanctions on Russia after it sent troops into Ukraine on February 24.
Business
Aramco says global energy transition goals unrealistic
Oil giant Saudi Aramco's chief blasted "unrealistic" energy transition plans, calling for a "new global energy consensus", including ramped-up investments...
- Aramco unveiled record profits of US$48.4 billion in Q2 of 2022 after Russia's invasion of Ukraine and a post-pandemic surge in demand sent crude prices soaring.
- One of the reasons for energy crisis is declining oil and gas investments, the Aramco chief said.
Business
DEWA, Desolenator ink pact
Dutch firm will provide water desalination technology
- The innovative design is intended to be 100 percent reliant on solar energy.
- As per the agreement, a pilot water desalination plant has been installed at the Jebel Ali Power Plant and Desalination Complex.
Economy
‘Standardization key to enhancing quality of local products’
UAE Minister of Industry and Advanced Technology (MoIAT) Dr. Sultan bin Ahmed Al Jaber said that hosting the International Organization...
- The UAE minister said the ISO annual meeting is in tune with MoIAT's efforts to benefit from international expertise.
- Sultan Al Jaber added that such events showcase the UAE's quality infrastructure and deepen partnerships with relevant national and global entities.
Economy
World Bank urges Sahel nations to diversify economies
Alerting five West African countries to the danger posed by climate change, the World Bank has urged them to diversify...
- World Bank warned that millions were at risk or already experiencing food insecurity due to low agricultural production from extreme weather
- The report includes proposals such as restoring degraded land and boosting economic opportunities for communities
Economy
European Union pledges €364m in grants to Jordan
The aid packages include supporting human development, civil society, governance, institutional development and green transition.
- The aid packages include supporting human development, civil society, governance, institutional development and green transition
- EU ambassador to Jordan Hadjitheodosiou said that the programme sets the priorities for cooperation between the two nations
Geostrategy
UAE says global pacts can help face labor related challenges
The UAE highlighted the significance of complying with international work standards and developing partnerships that empower countries to overcome the...
- The UAE said that it is important to guarantee the rights of employers and employees.
- Global cooperation would help in reducing inequality and discrimination that employees may be exposed to.
Economy
Arab economies expected to grow by 5.4 percent in 2022: AMF
Arab economies grew by 3.5% in 2021. The higher growth in 2022 is attributed to an improvement in global demand...
- However, economic growth for Arab countries is expected to decline in 2023 to about 4 percent, in line with the decline in global economic growth rate.
- Global economy is expected to rise 3.2 percent in 2022 and 2.9 percent in 2023, said Abdulrahman bin Abdullah Al-Hamidy, chairman AMF Board of Directors.
Research
Treated sewage water improves wheat growth, production in UAE
A study by an Emirati researcher has shown that wheat growth can be accelerated and production improved using treated sewage...
- The highest wheat productivity rate was achieved when using treated sewage water.
- key factors that improve wheat quality are the fertility of the soil, which must contain important nutrients and the quality of irrigated water.
Economy
Dubai reduced carbon emissions by 21 percent in 2021
The Dubai Supreme Council of Energy had a virtual meeting in which it was revealed that Dubai had reduced carbon...
- The Dubai Supreme Council of Energy in a meeting discussed increasing the share of solar energy.
- The meeting deliberated waste recycling in power and water production, industry, ground transport and waste treatment.
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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
How Pakistan is becoming a top tech hub in the GCC
Pakistan's IT sector is thriving, with growing exports and recognition as a tech hub, driven by government support, skilled talent,...
Economy
Company News
Empower H1 2023 revenue at $333m
Business
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EIH buys stake in Gewan Holding
Business
Hotels in UAE generate revenues of US$7bn in first seven months, says minister
ABU DHABI, UAE - In the first seven months of the year, hotel establishments in the UAE generated revenues of...
Business
Saudi Arabia and South Korea pledge to ramp up ties in various fields
Riyadh, Saudi Arabia-- Saudi Arabia and South Korea have pledged to strengthen cooperation in various fields. According to a press...
Economy
In a world first, EU gives nod to green bond standards
Brussels, Belgium - European Parliament has adopted a new voluntary standard for the use of a “European Green Bond” label, the...
Economy
Most Read
Business
Dubai Customs strengthens partnerships with courier firms to expand e-commerce
DUBAI, UAE - Dubai Customs recently convened an extensive meeting with the courier and express shipping companies, aimed at bolstering...
- Dubai Customs unveiled its cutting-edge e-commerce project, strategically leveraging blockchain technology to streamline supply chain operations.
- It also addressed all queries from participating companies and shared insights into the department's systems in this context.
Economy
FAO raises its forecast for global cereal production in 2023
ROME, ITALY - The Food and Agriculture Organization of the United Nations (FAO) raised its forecast for global cereal production...
- The higher forecast is almost entirely based on recent and more positive yield estimates for the Russian Federation and Ukraine.
- There will be increased wheat consumption while global rice utilization is forecast at 520.5 million tons.
Economy
Circular economy is a critical pathway to build sustainable future: Almheiri
Dubai, UAE-- Terming the circular economy as a critical pathway that builds a sustainable future by preserving natural resources, reducing...
- Almheiri noted that the UAE is keen to promote the circular economy that contributes to sustainable growth through the cooperation of all key stakeholders
- The review meeting took note of the pioneering efforts and actions taken by partners across the UAE to support the country's transition toward a circular economy