Low-pressure system eases over UAE: Dubai Airport delays remain
The Ministry of Interior has announced the end of the low-pressure weather system that wreaked havoc for many Dubai International...
Economy
MENA region is leading the on-demand talent revolution: report
Agile work models and diverse skill demands propel MENA's freelance economy, empowering businesses to thrive amid modernization and digital transformation.
Economy
Economy
Saudi Arabia’s Industrial Production Index grows by 24 percent in May
Saudi Arabia’s Industrial Production Index (IPI) grew by 24 percent in May 2022 compared to the same period last year....
- The growth is the third highest rise in the last three years, according to the kingdom’s General Authority for Statistics (GASTAT).
- GASTAT said the growth of the IPI turned positive in May 2021 after a long period of negative growth rates in 2019 and 2020, partly impacted by Covid 19.
Economy
World population set to reach 8bn this year, says UN
The world's population is expected to hit eight billion on November 15, the UN forecast Monday in a report that...
- The forecast by the UN Department of Economic and Social Affairs said the world's population is growing at its slowest pace since 1950
- It should hit 8.5 billion in 2030 and 9.7 billion in 2050, peaking at around 10.4 billion people in the 2080s before steadying at that level until 2100
Business
Three first phase buildings of Grove District sell out: Aldar
37% of sales were completed by non resident investors, 27% by expatriate residents, and the remainder by UAE nationals.
- 37% of sales were completed by non resident investors, 27% by expatriate residents, and the remainder by UAE nationals
- Due to increased demand, apartments at Grove Gallery Views are now available for purchase by buyers of all nationalities
Economy
Fear of global slowdown worries Gulf economies
The global economic stagnation is expected to impact the GCC growth due to the decline in industrial and economic activities...
- Economic stagnation has been a concern in many countries worldwide, especially in the Gulf states
- Economic stagnation is a concern in light of the growing inflation, rise in interest rates and disruption in supply chains
Economy
What led to Sri Lanka’s economic ruin and what lies in store?
Under the rule of the Rajapaksa clan, Sri Lanka moved closer to China and borrowed billions of dollars for vanity...
- Even with help from India and others, in April the country defaulted on its $51-billion foreign debt pile.
- Unofficial inflation rates are second only to those of Zimbabwe, making many goods -- if they can be found -- too expensive for many people to afford.
Videos
Dubai tourism achieves robust growth in 2022
The sector recovered fast in the emirate after the easing of Covid-19 restrictions, registering a 203 percent increase in the...
- The increased flow of tourists helped improve hotel occupancy across the emirate, which reached 76 per cent during the period, the highest globally in Q1.
- Successful handling of the pandemic, a safe environment for travelers and world-class infrastructure have contributed towards the rising tourist inflow.
Economy
Regional projects vital for future, says Jordan’s King Abdullah
King Abdullah spoke about Jordan's Economic Modernization Vision for the next decade which seeks to sustain recovery the COVID-19 pandemic....
- King Abdullah spoke about Jordan's Economic Modernization Vision for the next decade which seeks to sustain recovery from the COVID pandemic.
- The vision plans for the coming years by capitalizing on opportunities in the Kingdom, especially amid the impact of the Ukrainian crisis.
Arts & Culture
Reforms crucial to revive pandemic-hit culture sector
The sector also saw a decline of 25 percent of its Gross Value Added in 2020. However, while most of...
- The culture was one of the most seriously impacted sectors globally due to COVID-19 pandemic, with more than 10 million jobs lost in 2020 alone
- Revenues from the digital creative economy totalled US$2.7 billion globally in 2020, over a quarter of the sector’s overall revenue, says a report
Economy
Growth in focus as UAE signs CEPAs with key nations
Since February this year, the Gulf country has inked Comprehensive Economic Partnership Agreements with India, Indonesia and Israel. Trade deal...
- Since February this year, the Gulf country has inked Comprehensive Economic Partnership Agreements with India, Indonesia and Israel.
- This month, the country will sign its fourth CEPA with Colombia and is in negotiations with Turkey and several African and East Asian countries
Economy
Billions rely on wild species for food, fuel, income: UN
Overall, 50,000 species are used for food, energy, medicine, material and other purposes around the world, with more than 10,000...
- Wild plants, algae and fungi provide food and income for one in five people globally, the report said, while some 2.4 billion people rely on wood for cooking.
- Illicit trade in wild species is estimated to be worth between $69 billion and $199 billion a year, the third largest illegal market after human trafficking and drugs.
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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
Low-pressure system eases over UAE: Dubai Airport delays remain
The Ministry of Interior has announced the end of the low-pressure weather system that wreaked havoc for many Dubai International...
Economy
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UAE and Iraq to deepen economic, cultural, energy cooperation
Baghdad, Iraq-- The UAE and Iraq have held discussions to boost economic, investment, educational, cultural, agricultural, food, technological, and energy...
Economy
UAE and OECD host regional forum on global minimum tax
Dubai, UAE – The United Arab Emirates and the Organization for Economic Co-operation and Development (OECD) on Wednesday hosted regional...
Economy
Norms may make it easy to navigate ethical maze of AI
While speaking at the International Government Communication Forum in Sharjah, he emphasized that it's essential to regulate technology and overall...
Economy
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Business
Global economy lost $32bn due to credit card frauds, says AMF
Abu Dhabi, UAE - The Arab Monetary Fund said Wednesday that global credit card fraud losses incurred by financial institutions...
- The losses increased substantially by 13.8 percent compared to the previous year, WAM reported.
- The report urges financial institutions to foster cooperation by sharing data and pooling resources in their fraud detection efforts.
Economy
Saudi and Russian oil cuts to cause big supply shortfall: IEA
The IEA said world oil demand remains on track to grow by 2.2 million bpd to 101.8 million bpd this...
- The warning comes a day after oil prices jumped following OPEC's own update
- Saudi Arabia and Russia said that they would extend voluntary cuts until the end of the year
Business
China denies ban on use of iPhone in government agencies
Beijing, China--China on Wednesday denied there was any ban on officials purchasing or using foreign phones, including iPhones, after reports said...
- Foreign ministry spokesperson said that China has not issued any laws, regulations, prohibiting the purchase and use of foreign brand smartphones, including iPhone
- In the wake of reports about significant Chinese restrictions on iPhones at government offices and state-backed entities, Apple shares tanked sharply last week