Unit 4 of Barakah Nuclear Energy Plant connected to UAE grid
Abu Dhabi, UAE – The Emirates Nuclear Energy Corporation (ENEC) today announced that its operations and maintenance subsidiary, Nawah Energy...
Economy
ENEC and General Atomics to collaborate on use of technology for nuclear energy
Abu Dhabi, UAE--The Emirates Nuclear Energy Corporation (ENEC) today announced that it has signed a Memorandum of Understanding (MoU) with...
Science
Economy
Ukraine war to hit MENA’s poor nations, boost oil-producers: IMF
The International Monetary Fund's 2022 growth forecast for the region, which includes Arab countries and Iran, was forecast at 5.0...
- The predicted growth masks the disparities between the region's 22 countries--from oil exporters to nations wracked by war and others that depend heavily on wheat and fuel imports.
- An IMF report said inflation in MENA surged to 14.8 percent in 2021 and is projected to remain elevated at 13.9 percent this year, largely due to higher food and energy prices.
Ramadan brings $6bn windfall for MENA
The spending through the month of April has been widespread, including a broader increase in sales volume and a diversification...
- Saudi spending on travel, accommodation, and dining in restaurants rose by 37% in Ramadan 2022
- Consumers in the MENA are predicted to spend US$ 6.2 bn online during Ramadan in 2022
Economy
India launches outreach programmes on UAE-India CEPA pact
The CEPA was signed in New Delhi on February 18 in the presence of Crown Prince of Abu Dhabi Mohamed...
- The CEPA was signed in New Delhi on February 18 in the presence of Crown Prince of Abu Dhabi Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi
- The first in a series of countrywide outreach programmes was held in Hyderabad in India this week, organised by the Government of Telangana state
Economy
Turkey partially lifts COVID-19 mask mandate
The move follows similar actions by European countries, which lifted the mask mandate partially or entirely.
- Mask use would still be in place in mass transit and hospitals
- It would go when the number of daily cases ‘drops below 1,000’
Business
Jordan and UAE groups join hands to develop beach project
Jordan Free and Development Zones Group Director Arwa Hiyari said the beach project is aimed at diversifying tourism.
- The project features a tourism camp housing restaurants, swimming pools and top-notch chalets of different sizes.
- The project will also provide new services for Dead Sea visitors and create job opportunities, an official said.
Business
Dubai real estate market records highest single-quarter deals since 2010
Dubai real estate market recorded the highest number of transactions since 2010 registered in a single quarter and the highest...
- Q1 2022 recorded a total of 20,539 sales transactions worth AED 55.51 billion ($15.11 billion).
- The quarter had the highest number of rental contracts ever recorded in a single quarter and it had a total of 160,530 rental contracts.
Economy
Humanity stuck in ‘spiral of self-destruction’: UN
Humanity is suffering from a "broken perception of risk", spurring us into activities and behaviours that cause climate change and...
- The report estimated that by 2030, we will be experiencing 560 disasters around the world every year -- or 1.5 disasters every day on average
- The sharp rise in disasters globally could be attributed to a "broken perception of risk based on optimism, underestimation and invincibility," UN said
Economy
China expands mass testing as lockdown fears grow
Under its zero-Covid policy, China has used strict lockdowns, mass testing and severe travel restrictions to stamp out infections. But...
- China is struggling with a new wave coronavirus infections, and it reported 52 new Covid deaths on Tuesday
- Officials ordered people in 12 central districts to undergo three rounds of PCR testing
Economy
Asia facing ‘stagflationary outlook’ amid Ukraine war: IMF
The Asian region faces a "stagflationary" outlook with economic growth being lower than previously expected and inflation being higher, a...
- The regional outlook, which follows the World Economic Outlook released last week, shows the growth forecast for Asia cut to 4.9 per cent
- Inflation is now expected to rise 3.2 per cent this year, a full point higher than expected in January
Analysis
New trends drive Arab automotive growth
From pre-owned cars to electric vehicles, a number of trends are driving the growth of the automobile sector in countries...
- Saudi imports of cars grew from 544,000 in 2020 to over 546,000 in 2021
- Around 28% of those polled in the UAE said they prefer to buy a used car online
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Unit 4 of Barakah Nuclear Energy Plant connected to UAE grid
Abu Dhabi, UAE – The Emirates Nuclear Energy Corporation (ENEC) today announced that its operations and maintenance subsidiary, Nawah Energy...
Economy
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Soniqs wins PUBG Global Series 2 Crown
It claimed $600,000 prize at Gamers8 - The Land of Heroes.
Business
Generative AI likely to supplement than destroy jobs: ILO
Geneva, Switzerland -- Generative Artificial Intelligence (AI) is more likely to augment than destroy jobs by automating some tasks rather...
Business
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Business
Abu Dhabi Chamber inks MoU with Ethiopian Investment Commission
ABU DHABI, UAE - The Abu Dhabi Chamber of Commerce and Industry has signed a Memorandum of Understanding with the...
- The MoU also aims to establish a framework for cooperation that advances trade, investment and economic relationships between the UAE and Ethiopia.
- The signing of the MoU was held on the sideline of the UAE delegation's visit to the Federal Democratic Republic of Ethiopia.
Economy
Arab Parliament endorses call to support victims of terrorism
Cairo, Egypt-- Arab Parliament on Monday endorsed the call for victims of terrorism in the Arab world to be supported...
- The parliament said the victims of terrorism in the Arab world must be supported with money to overcome their tragedies
- The parliament expressed solidarity to coincide with the International Day of Remembrance and Tribute to the Victims of Terrorism
Economy
China cuts key interest rate to support economy
The measures, which run counter to rising interest rates around the world as other major economies work to curb inflation,...
- The one-year loan prime rate was reduced from 3.55 percent to 3.45 percent, the People's Bank of China said in a statement
- The decision is intended to encourage commercial banks to grant more loans and at more advantageous rates