World resource extraction could surge 60 percent by 2060, UN warns
Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...
Economy
Abu Dhabi residential sector achieves record growth in 2023, says report
ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...
Business
Geostrategy
WEF says ‘will defer’ Davos meeting over Omicron fears
The high-powered meeting scheduled for January 17-21, which usually draws leading figures from business, politics and diplomacy, will instead be...
- Swiss authorities have recently stepped up health restrictions sharply to control a fifth coronavirus wave.
- Forum chief Klaus Schwab promised "continued digital convening of leaders from business, government and civil society".
Geostrategy
Dubai airport fully operational for first time since pandemic
Dubai airport, one of the world's busiest travel hubs, is fully operational for the first time since the coronavirus pandemic...
- Travel via Dubai increases at the end the year, with foreigners -- who make up the majority of the emirate's population -- heading home for the holidays.
- Since the pandemic began, the UAE has registered over 744,400 cases, including 2,152 deaths.
Economy
UN chief criticizes Lebanon leaders during his visit
Lebanon is in the throes of an economic meltdown that has been called by the World Bank as among the...
- The UN stands in solidarity with the people of Lebanon, Guterres said at a press conference with Lebanese President Michel Aoun
- However, he added that Lebanese political leaders ‘do not have the right to be divided and paralyze the country’
Economy
Tourism, retail to fuel Dubai economy growth in 2022
The insights from the Dubai Chamber study were released during a business seminar titled The Road Ahead: UAE and Dubai...
- In 2022, the UAE economy is projected to record an estimated annual GDP growth rate of 3.4 percent
- The entire UAE economy began to recover in 2021 by registering an estimated annual GDP growth rate of 3.1 percent
Economy
Jordan minister urges officials to expedite services for citizens, investors
Nayef Steitieh told field managers in his ministry and across governorates to also look to replace expatriate workers with those...
- Jordan’s Minister of Labor Nayef Steitieh on Saturday, December 19, called for investing in e-transformation
- The move is expected to save time and effort of beneficiaries from the ministry's directorates and governorates
Business
Morocco may see its its waste problem blow up as recycling lags
Morocco’s official recycling aim is 20 percent garbage by 2022 which has been moved to 2030.
- No domestic organic waste is treated at the factory because “it’s too expensive”
- Official data shows that 66 illegal rubbish dumps in Morocco have been regularized or closed
Economy
Turkey faces medicine crisis as currency loses value
Turkey has been rattled by a currency collapse that accelerated by President Recep Tayyip Erdogan’s last-month steps that defy conventional...
- The Turkish lira has lost more than 40 percent of its value since the start of November alone
- A lira could buy 13 US cents in January, but was worth less than half that this month
Economy
Saudi Arabia advises citizens against foreign travel
The Saudi Public Health Authority has also announced new precautions for travelers entering the country.
- The Saudi Public Health Authority recommends that travelers coming from outside avoid social contact for at least five days
- Waqeya also advised people to take the Covid-19 PCR test in the event of respiratory symptoms or a temperature rise
Geostrategy
OIC says Afghanistan needs full support of member states
The OIC has said its members as well as non-members need to organize and implement an immediate humanitarian assistance plan...
- The OIC has said its members as well as non-members need to organize an immediate humanitarian assistance plan for Afghanistan
- The OIC humanitarian office in Kabul will assume the responsibility for the coordination of this aid
Economy
Tunisia protests on revolution anniversary as economy spirals
Many Tunisians are tired of a system that is seen as graft-ridden and ineffective, and have welcomed the protests.
- Tunisian President Kais Saied has prolonged his suspension of parliament until elections in December 2022
- He also announced a nationwide public consultation to draw up a new constitution
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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
World resource extraction could surge 60 percent by 2060, UN warns
Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...
Economy
Company News
Aramco Q1 earnings take a hit
Business
Latest News
ADX grew 20 percent in 2022, says CBUAE
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE)’s Financial Stability Report for 2022 said the FTSE ADX...
Business
UAE-India trade rose to US$384bn in 2013-22
ABU DHABI, UAE - The significant growth in the volume of non-oil trade between the UAE and India signifies the...
Business
Most Read
Economy
Saudi Arabia harnesses technology to boost tourism sector
VR and AR technologies offer tourists pre-visit virtual explorations of cultural and natural sites, driving engagement and anticipation. Onsite, the...
- Technologies such as Virtual Reality, Augmented Reality, E-visas, and e-payment systems are enhancing the tourist experience in the Kingdom, say experts
- NEOM, which epitomizes Saudi Arabia's innovative approach, is set to become a global showcase of advanced design and digital experiences, they add
Business
US banks express caution on economy as Fed rate hikes boost earnings
Results of large US banks released underscored the boon from higher interest rates, as executives described the world's biggest economy...
- JPMorgan and Wells Fargo both reported huge increases in second-quarter profits.
- Citi experienced a drop, citing an anemic investment banking market for revenue drop.
Economy
UAE banking sector is resilient, says CBUAE in its report
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) on Friday issued its Financial Stability Report for 2022....
- The report discusses global, local macroeconomic conditions, domestic asset markets and provides a detailed assessment of the UAE banking system.
- The report also contains an analysis of other important developments across the UAE financial sector such as digitalization and sustainability.