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
Business
Apple cuts iPhone 13 output forecast on chip shortage: report
Apple is unlikely to meet production goals for its new iPhone before the holidays because of a global electronic chip...
- The firm will have to settle for 80m against the planned 90m iPhone 13s.
- Chip shortages were affecting all parts of the industry, not just Apple, said Apple chief Tim Cook.
Economy
UAE approves budget of AED 290bn to 2026
The cabinet also approved the 2022 budget, which calls for spending of AED 58.931 billion ($16.05 billion).
- The cabinet also approved the 2022 budget, which calls for spending of AED 58.931 billion
- A major share of the 2022 budget was allocated to the development and social benefit sectors, at 41.2%, while the infrastructure and financial resources sectors took home 3.8%
Interview
Expo 2020: Accenture enables ideal visitor interface
Accenture created integrated intelligent systems for Expo teams, nations, vendors and supplier, says Angelo Lorusso, the company's MD and Client...
- Accenture delivers an integrated solution at Expo 2020 Dubai right from designing, implementing, and running the platforms that power hyper-personalized guest experience
- Accenture supports Expo Live – an innovation and partnership program by teaming up with Smart Labour, a UAE-based Expo Live grantee helping blue-collar workers gain new skills
Economy
IMF pegs 2021 global growth at 5.9%
The IMF noted that emerging variants of the novel coronavirus have made policy choices more difficult, with limited room to...
- The predicted 5.9 percent growth is 0.1 percentage point less than the IMF’s July prediction
- The IMF said this revision was due to supply disruptions for some and worsening pandemic dynamics for others
Economy
Saudi Arabia issues over 1,600 residential plots in September
The plots are said to have been issued under the country’s Sakani Housing program, which is a part of Saudi...
- The Sakani scheme runs in partnership with the private sector
- It also channels financing options to people who can also construct their own homes
Geostrategy
Arab youth name UAE country of choice for the tenth consecutive year
For the tenth consecutive year, Arab youth have said the UAE is the country they would like to live in...
- A third of the youth polled in a survey cite UAE's growing economy and opportunities it offers as attractions.
- Ninety-nine percent of Emiratis say their country’s economy was heading in the right direction.
Business
DP World and UK’s CDC Group to create Africa investment platform
DP World will contribute its stakes in three existing ports and invest $1 billion over the next few years through...
- DP World will contribute its stakes in three existing ports and invest $1bn over the next few years.
- CDC is committing $320 million initially and a further $400 million over the next several years.
Economy
Lebanon leaders start conclave to plan rescue of economy
Lebanon is currently experiencing possibly the worst economic crisis in the world.
- Members of the Lebanese government started a conclave to develop a vision on a rescue and action plan for the country
- The conclave began at the monastery of Saint John the Citadel in Beit Meri
Business
UAE and Italy’s export credit agencies review progress of joint initiatives
Etihad Credit Insurance (ECI), the UAE Federal export credit company, and SACE, the Italian export credit company (CDP Group), have...
- Etihad Credit Insurance chief says significant gains made in Halal-certified businesses.
- The two sides explored how they can help boost the flow of goods, services and investment capital worldwide.
Economy
Arab region natural gas demand growing at ‘fastest’ pace: OAPEC
Demand for gas in the region eclipses global demand by more than twofold, the second highest in the world in...
- Power generation in the region forms 52 percent of total consumption, with the region's energy transition plans heavily reliant on LNG import projects
- The bloc espoused the merits of LNG output expansion in improving energy efficiency by up to 39 percent as part of efforts to reduce dependence on oil and petroleum products
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
Maqta Gateway buys TTEK
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Stc to buy assets in Europe
Business
Qatar Central Bank’s foreign reserves up 14 percent in June
Doha, Qatar -- International reserves and foreign currency liquidity of Qatar Central Bank (QCB) rose to reach QR 240.742 billion...
Economy
UN report confirms success of UAE investment endeavors: Al Marri
"The UNCTAD report for 2022 reaffirms the remarkable and unprecedented achievements resulting from the cumulative balance of FDIs flows in...
Business
UAE Dirham can be third currency for India-Russia Trade, says Russian economist
New Delhi, India - Russian academic Sergey Luzyanin has suggested that the United Arab Emirates' Dirham could be considered as...
Economy
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Business
Iran signs oil contracts worth US$40bn in last 20 months: Javad Owji
Tehran, Iran-- Iran has signed oil contracts worth $40 billion with domestic and foreign companies during the last 20 months....
- The Iranian minister made the remarks at the second ministerial session of the 8th OPEC International Seminar in Austria
- He said Iran was producing 3.8mn barrels of crude oil and gas condensates and more than one billion cubic meters of gas a day
Business
OPEC’s energy ministers back crude output cut by Saudi Arabia, Russia, Algeria
Vienna, Austria - Energy and oil ministers from the Organization of Petroleum Exporting Countries (OPEC) on Wednesday expressed support for...
- Saudi Arabia on Monday extended its voluntary production cut of 1 million barrels per day (bpd) into August
- Saudi Arabia and Algeria are among OPEC's 13 member states, and Russia is one of the organization's 10 allies
Economy
UAE is focused on uniting parties in a COP that delivers for all: Al Jaber
Dr. Sultan bin Ahmed Al Jaber believes that the Caribbean region will have a key role at COP28 in bringing...
- Al Jaber was addressing the conference of the heads of government of the Caribbean Community (CARICOM) in Trinidad and Tobago
- The minister felt that donor countries need to be nudged in order to deliver the US$100 billion pledge that they made over a decade ago