Exclusive: ADP’s Nela Richardson on how AI is reshaping the global workforce
Davos Switzerland - The rapid adoption of AI and automation is redefining labor markets, reshaping industries, and transforming skills globally,...
Economy
Oman launches New Nation Brand at Davos to enhance global presence
Muscat, Oman – Oman on Tuesday launched its New Nation Brand at the World Economic Forum in Davos in an...
Economy
Asian shares rise as markets await tech results
Asian markets mostly rose Tuesday with investors looking ahead to the release of US economic data and the earnings reports...
- Oil market concerns shifted focus on potential oversupply in 2025
- Investors are also awaiting the Bank of Japan's rate decision later this week
Economy
Oil prices tumble after Israeli attacks spare Iran facilities
Tokyo, Japan - Oil prices tumbled in early Asian trading Monday with dealers relieved that Israeli strikes carried out Saturday against...
- The price of North Sea Brent for delivery in December fell by 4.05 percent to $72.97, while West Texas Intermediate plunged by 4.19 percent to $68.77
- "Israel's strike, carefully avoiding energy sites, has softened fears of a full-scale conflict with Iran," said Stephen Innes, analyst at SPI Asset Management
Economy
BRICS integral to Arab trade diversification strategy
The UAE and Saudi Arabia’s trade with China and India far exceeds their trade with the US and UK. This...
- Arab economic powers such as Saudi Arabia and the UAE have intensified efforts to diversify their strategic business relations with China, Russia, and India
- Arab powers have also kept their traditional ties with the nations in the European Union and the Americas, particularly the United States, intact
Economy
China’s central bank cuts two key rates to boost economy
Beijing, China - China's central bank on Monday said it had cut two key interest rates to historic lows, in the...
- The cuts come just days after the country posted its slowest quarterly growth in a year and a half, underlining the deep economic woes the country faces
- Leaders are targeting annual growth of five percent this year, but that goal is being challenged by weak consumption and a prolonged and debilitating debt crisis
Putin thanks UAE president for positive role in prisoner exchange with Ukraine
UAE President Sheikh Mohamed meets his Russian counterpart Vladimir Putin to discuss bilateral ties and Middle East. Sheikh Mohamed will...
- Moscow and Kiev announced that they had swapped 95 prisoners each following negotiations led directly by the UAE
- The UAE and Russia ties have grown closer recently with Putin saying that their bilateral trade had tripled in the past three years to $11.1 billion
Economy
Gold breaks above $2,700 to record high as geopolitical uncertainty heightens
Hong Kong, China - Gold prices hit a record high above $2,700 on Friday as traders piled into the safe-haven commodity...
- Bullion hit an all-time high of $2,704.89 in early Asian trade, up from its previous record of $2,688.83 touched on Thursday
- Markets have been on edge over the crisis in the Middle East as Israel battles Hamas in Gaza and, more recently, Hezbollah in southern Lebanon
‘Starvation tactics’ being used against 25 million people in Sudan
UN experts on Thursday accused the two sides in Sudan's civil war of using "starvation tactics" against 25 million civilians,...
- The world must pay attention to the largest modern famine taking shape in Sudan today, says UN
- Experts say "the volume of aid currently being delivered through this corridor is not enough to meet the population's needs"
Economy
UN report says 1.1 billion people in acute poverty
More than one billion people are living in acute poverty across the globe, a UN Development Program report said Thursday,...
- 455 million live in the shadow of conflict, while 584 million people under 18 were experiencing extreme poverty
- India was the country with the largest number of people in extreme poverty which impacts 234 million of its 1.4 billion population
Economy
Asian markets track Wall Street losses on worries over tech rally
Hong Kong, China- Asian markets mostly fell on Wednesday after a tech-led sell-off on Wall Street fueled by worries about the...
- Chip titan and market darling Nvidia sank more than four percent
- Japan's Nikkei 225 was off more than two percent
Economy
Tech helps Singapore economy top forecasts in third quarter
Singapore's economy grew more than expected in the third quarter as a rush for everything related to artificial intelligence drove...
- The City's economic performance is often seen as a barometer of the global environment
- Healthy rebound in manufacturing sector powered the 4.1 percent year-on-year Q3 growth
Exclusive: ADP’s Nela Richardson on how AI is reshaping the global workforce
Davos Switzerland - The rapid adoption of AI and automation is redefining labor markets, reshaping industries, and transforming skills globally,...
Economy
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UAE labour market transforms with AI revolution and growing demand for high-skill professions
The country is among the most attractive markets for skilled global professionals and talent, thanks to its competitive advantages, including...
Economy
Females make up 37.6% of the GCC population of 57.6 million
Muscat, Oman - The population of the six GCC countries reached 57.6 million in 2023, compared to 56.6 million in...
Economy
GCC equity markets ended 2024 in positive territory
Five of seven GCC equity market indices under coverage ended 2024 on the rise, according to an in-depth report on GCC equity...
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Economy
Saudi Arabia records $5.6 billion trade surplus in October 2024 with 30% growth
Riyadh, Saudi Arabia - Saudi Arabia’s trade balance recorded a 30% monthly growth, achieving a surplus of SAR 20.769 billion...
- The Kingdom's total international trade volume reached SAR 164.794 billion ($43.51 billion) in October, reflecting a 2% growth
- Non-oil exports in October totaled approximately SAR 19.413 billion ($5.24 billion), representing 21% of total exports
Economy
Study: Legacy technology not impeding adoption of AI and Machine Learning in UAE and Saudi Arabia
Manufacturers see AI as critical for decarbonization (66%), improving ESG scores, energy monitoring (55%), advancing digital twins (68%), and enabling...
- The study, conducted by S&P Global Market Intelligence, surveyed over 120 digital transformation leaders from the utility, data center, building, and manufacturing sectors
- It reveals that only 23% of respondents in 2024 identified legacy technology as a significant impediment to digitalization, a notable decrease from 33% in 2022
Economy
Global markets rode AI, interest rate roller coaster in 2024
Paris, France - Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for Artificial Intelligence (AI),...
- Wall Street's three main stock indices blew past record highs to set new peaks in 2024, with the Dow Jones Industrial Average climbing above 45,000 points
- Donald Trump's victory in the US presidential election gave Wall Street even more of a boost on hopes he will follow through on pledges of deregulation and tax cuts