From sand dunes to boardrooms: Strategies for success in challenging times
"Leadership teams must recognize that the livelihoods of their employees' families hinge on the stability of the business. Understanding that...
Space economy set to triple to $1.8trn by 2035, reveals new research
The growth of the space industry will largely be built upon the increased reach of space-based and/or -enabled technologies, such...
Economy
Algeria president sacks central bank chief
Algerian President Abdelmadjid Tebboune on Monday sacked central bank chief Rostom Fadli, in office for less than two years, the...
- Fadli had taken office in June 2020 as interim head of the central bank of Africa's fourth-biggest economy, later being confirmed in the role
- Algeria is a rentier economy dependent on oil exports for 90 percent of its foreign income, and therefore vulnerable to price movements
Economy
Digitization to see more GCC women enter workforce
Although the number of female STEM graduates is high in GCC, this couldn't translate into proportionate increase in workforce, says...
- GCC is witnessing a rise in recruitment of women and more knowledge sharing between companies to ensure women are supported throughout their careers, Harb said.
- Digitalization would help organizations that invest in digital tools to hire and retain diverse talent and besides supporting women's active participation in the workplace.
Economy
‘Central bank digital currencies can transform financial system’
More countries are experimenting with CBDCs and some are beginning to bring them to market, potentially offering lessons for the...
- More countries are experimenting with CBDCs and some are beginning to bring them to market, potentially offering lessons for the rest of the world
- Some of the questions that were debated included the macroeconomic and geopolitical implications surrounding the roll-out of CBDCs
Economy
Sri Lanka inflation hit seventh consecutive record high in April
Hammered by a foreign exchange crisis, the country's 22 million people have been enduring acute shortages of essentials.
- National Consumer Price Index rose 33.8 percent year-on-year in April, more than six times the 5.5 percent inflation in 2021.
- Inflation is likely to rise further in May as fuel price hikes of 35 percent for petrol and 65 percent for diesel.
Business
Dubai Chamber of Commerce reports 55% membership growth in April 2022
The new member companies joining Dubai Chamber of Commerce in April 2022 reached 3,056, bringing the Chamber's total membership to...
- The new member companies joining Dubai Chamber of Commerce in April 2022 reached 3,056, bringing the Chamber's total membership to 300,000 companies
- The value of members' exports and re-exports in April 2022 amounted to AED20.2 billion, growing by 16.7 percent from the AED17.3 billion posted in April 2021
Business
Iran signs multiple trade deals with Oman during president’s visit
A delegation of 50 Iranian businessmen travelled to Oman last week, with Iran's minister for roads and urban development announcing...
- Both the countries signed 12 memoranda of understanding including in the fields of oil and gas.
- Oman is seeking to import gas from Iran by building an offshore pipeline between the two countries.
Economy
Saudi announces weekly international flights to NEOM megacity
Saudi Arabia's main airline will next month start operating weekly international flights from the kingdom's planned futuristic megacity known as...
- The $500 billion Red Sea project is part of de facto ruler Crown Prince Mohammed bin Salman's Vision 2030 plan to diversify Saudi Arabia's oil-dependent economy
- It has been billed as a futuristic cityscape evocative of a sci-fi blockbuster with everything from flying taxis to robot maids
Economy
Global ESG assets could reach $50 trillion by 2025 : PIF Governor
Global environmental, social, and governance assets are expected to hit $41 trillion by the end of this year, and $50...
- PIF is developing its ESG strategy due to its broader long term strategy aimed at achieving net zero emissions in the country by 2060.
- The PIF governor also revealed that Saudi Arabia has launched seven solar and wind projects that could power 600,000 households.
Economy
56% decline in traffic accident deaths in Q1 of 2022: Sharjah Police
The Director of Traffic and Patrols Department of Sharjah Police (SP), Lt. Col. Mohammed Alai Al Naqbi attributed the success...
- The Director of Traffic and Patrols Department of Sharjah Police (SP), Lt. Col. Mohammed Alai Al Naqbi attributed the success to traffic campaigns
- He explained that the "Be careful and drive with caution" campaign, which was launched in February 2022, showed a decrease in the road fatality rate
Business
13 countries to join new Asia-Pacific trade framework: Biden
"The US and Japan, together with 11 other nations will be launching" the Indo-Pacific Economic Framework for Prosperity, Biden said...
- Joe Biden will make a formal rollout of IPEF later Monday with 13 countries joining the initiative which aims to offer US allies an alternative to China in Asia-Pacific
- China has criticized IPEF as an attempt to create a closed club. Biden's national security advisor rejected the claim saying that, "it is an open platform"
From sand dunes to boardrooms: Strategies for success in challenging times
"Leadership teams must recognize that the livelihoods of their employees' families hinge on the stability of the business. Understanding that...
Company News
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Leather, knitwear industries contribute 2.4% to GDP, says JCI
AMMAN, JORDAN - Representative of the leather industries and knitting sector at Jordan Chamber of Industry (JCI), Ehab Qadri, said...
Business
China’s industrial sector posts robust growth in 2023
Beijing, China--China has reported robust progress in its industrial development this year, marked by significant milestones in several sectors, according...
Economy
Iran reports 15% surge in gasoline output
Tehran, Iran - Iran has reported a 15% surge in its gasoline output this year compared to last year. The...
Economy
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Business
DFM registers 34,800 new accounts in 8 months
Dubai, UAE - Brokerage firms in the Dubai Financial Market (DFM) witnessed a substantial influx of New Investor Numbers (NIN),...
- The number of newly registered investor accounts exceeded 51 percent during the first eight months of the year
- 29 brokerage firms listed on the DFM conducted over 2.57 million deals on 80 billion shares worth $37.1 billion
Economy
Saudi Arabia and Singapore pledge to ramp up economic ties
Singapore-- Saudi Arabia and Singapore have pledged to enhance economic cooperation between the two countries and also reviewed the challenges...
- The two sidies reviewed the state of their economic relations and also discussed the progress of Saudi Vision 2030 and its key programs
- The Saudi finance minister met with an array of private sector players and Singaporean government agencies and discussed financial cooperation
Opinion
Logistics delivers boom with value-added services
"A top-tier, industry-specific enterprise resource planning (ERP) solution is vital for efficiently delivering these value-added services. Distributors grapple with supply...
- The Middle East and African freight and logistics market is predicted to record a compound annual growth rate of about 6% between 2023 and 2028
- To tap into growth opportunities in the region and for better results, distributors must consider incorporating value-added services into their strategies