Gulf nations transition from oil to solar powerhouses
The Gulf region is embracing the future of energy by investing in polysilicon production, crucial for solar panel manufacturing, with...
Economy
Google’s new AI for corner kick tactics gets Liverpool approval
PARIS, FRANCE – Liverpool football analysts have given their seal of approval to a new artificial intelligence tool from Google that...
Science
Economy
What would be the impact of a US “digital dollar”?
It would still be a dollar issued by the US Federal Reserve central bank, like all US bills and coins...
- It would still be a dollar issued by the US Federal Reserve central bank, like all US bills and coins used now, but in a digital form
- At the same time, the digital dollar would be worth the same as its paper counterpart, a divergence from cryptocurrencies which currently have highly volatile valuations
Economy
Saudi achieves 30 percent female labor force target 10 years early
Saudi Arabia has achieved its target of getting 30 percent female labor force participation nearly 10 years ahead of schedule,...
- The research, carried out by Roland Berger on behalf of Uber, shows that women made up 36 percent of workers in the Kingdom in 2021 — up from 22 percent just three years earlier.
- The increase was partly attributed to the success of the Wusool program, which made transport more accessible to working women.
Economy
Brent oil rebounds 5 percent from slump as hopes of supplies rise
European benchmark Brent North Sea crude climbed 5.1 percent to $116.80 per barrel in morning deals. New York's WTI contract...
- Brent tumbled as low as $105.60, having hit a peak of $139 just two days before, as the Ukraine crisis continues to send shockwaves through markets.
- The UAE said Wednesday it would urge fellow states in the OPEC oil producers' cartel to boost output.
Economy
Ukraine war affects green energy transition
The EU, IEA, and NGOs stress that the development of renewable energy sources and biogas must be accelerated.
- The global demand for the dirty fossil fuel reached a historic high in 2021 as several countries including China prefer it to pricier gas
- Some countries could burn coal for longer, using it to transition to renewable energy sources without passing through a gas-power phase
Geostrategy
Britain urges all G7 members to ban Russia oil imports
The US has led a Western assault on Russia's economic lifeline by banning imports of oil and gas followed by...
- The British foreign secretary, standing alongside US Secretary of State Antony Blinken, hailed transatlantic unity against Russia
- Blinken called absurd and offensive the Russia proposal of safe passage of Ukrainians through its own territory
Analysis
Can Gulf producers tame oil prices?
However, Gulf countries have an interest in acting in coordination — both within OPEC, and with Russia-led allies in the...
- US President Joe Biden on Tuesday announced a ban on US imports of Russian oil and gas
- Britain said it would phase out crude imports from the country by the end of this year
Geostrategy
UAE says will urge OPEC to boost oil output
Brent had spiked to $139 on Monday — about $8 short of an all-time record — in expectation of the...
- US President Joe Biden on Tuesday announced a ban on US imports of Russian oil and gas
- Meanwhile, Britain said it would phase out crude imports from the country by the end of 2022
Interview
F&B sector in GCC eyes greater sustainability
Tetra Pak Arabia Managing Director Niels Hougaard explains what lies ahead for F&B companies — bith regionally and globally —...
- Pollution and plastic litter in the ocean are the joint top environmental worry, while global warming is a close second
- GCC countries have launched several initiatives to educate consumers about recycling and sustainable consumption
Economy
Protests rock Iraq’s southern area as food prices surge
Protests erupted Wednesday in Iraq's impoverished south over a rise in food prices that officials attributed to the conflict in...
- The price of cooking oils and flour have skyrocketed in local markets as government officials have sought to address growing anger.
- More than 500 protesters gathered in a central square in the southern city of Nasiriyah opposing the unchecked rise in food prices.
Economy
Tunisia to initiate harsh action against food speculators
Tunisian President Kais Saied declared war Wednesday on food speculators amid a shortage of products such as wheat and semolina...
- Russia's invasion of Ukraine has threatened supplies of basic foodstuffs, particularly wheat
- Tunisia has seen a sharp shortage in staples such as rice, semolina, sugar and flour over the past weeks
Most Read
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
Gulf nations transition from oil to solar powerhouses
The Gulf region is embracing the future of energy by investing in polysilicon production, crucial for solar panel manufacturing, with...
Economy
Company News
Latest News
Jordan-Egypt trade expands to US$355.43m in first five months of 2023
Amman, Jordan--Trade between Jordan and Egypt expanded to $355.43 million in the January-May period of the current year, according to...
Business
UAE Corporate Tax: Relief measures for SMEs
Abu Dhabi, UAE - The UAE has unveiled a series of relief measures to support the growth and prosperity of...
Economy
Oman annual inflation inches up to 0.69 percent in June
Muscat, Oman--Oman annual inflation rate reached 0.69 percent by the end of June 2023, according to the monthly consumer price...
Economy
Most Read
Economy
Interest rate raise ‘likely’ to curb inflation, says Fed official
A US central bank official said that more interest rate hikes "will likely be needed" to bring inflation down further,...
- Federal Reserve governor Michelle Bowman's prepared remarks to an event in Colorado also came after a mixed employment report.
- She would be seeking "consistent evidence" that inflation is on a meaningful path down toward the Fed's two percent target.
Economy
UAE to mobilize global tech, space sectors for climate action ahead of COP28
ABU DHABI, UAE - Key UAE government entities have partnered to boost coordination between advanced technology and space sectors. The...
- The collaboration aims to further contribute to COP28’s inclusive ecosystem, bringing together major technology companies, global institutions.
- It will encourage companies to use the UAE as a base for producing new technologies that can help drive sustainable industrial development.
Economy
CEPA signed with UAE is a special achievement: Indian minister
New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement...
- The Indian minister was responding to a question by a member of parliament about whether "there are some special achievements of India's foreign policy"
- He added that there is a greater integration of the Indian economy with regional and global economies, contributing to a deeper and extensive trade partnerships