UAE to provide US$10m grant to support WTO initiatives, says foreign minister
ABU DHABI, UAE – Emirates Minister of Foreign Affairs Sheikh Abdullah bin Zayed Al Nahyan has announced that the UAE...
Geostrategy
Global operation smashes ‘most harmful cyber crime group’
LONDON, UK - An international operation led by UK and US law enforcement has severely disrupted "the world's most harmful cybercrime...
Geostrategy
Geostrategy
Winners of 2022 Zayed Sustainability Prize honored for community services
The 2022 Zayed Sustainability Prize has been awarded to 10 winners who have contributed towards achieving sustainable development in their...
- The award ceremony coincided with the start of the 2022 Abu Dhabi Sustainability Week (ADSW).
- Through its 86 former winners, the Prize has transformed the lives of more than 370 million people, across 150 countries, since 2008.
Economy
OPEC expects robust oil demand in 2022 to overcome Omicron threat
Global demand for oil is expected to remain "robust" in 2022 and overcome short-term disruption caused by the Omicron coronavirus...
- The Saudi-led group of top oil producers warned future virus strains and pandemic-related travel restrictions could threaten the global economic recovery.
- European crude benchmark Brent North Sea reached $88.13 per barrel, while US contract WTI hit $85.74 -- the highest levels since October 2014.
Business
World’s 10 richest men doubled wealth during pandemic, says Oxfam
Oxfam said the men's wealth jumped from $700 billion to $1.5 trillion, at an average rate of $1.3 billion per...
- Oxfam said in its report that the pandemic has plunged 160 million people into poverty
- Non-white ethnic minorities and women bore the brunt of the impact as inequality soared, it added
Geostrategy
GCC seeks closer ties with EU to achieve common interests
During the visit, the secretary-general of the GCC will meet a number of senior officials of the European Union.
- The secretary-general expressed his aspiration for this visit to contribute to strengthening Gulf-European relations
- The two sides will also discuss the importance of strengthening and developing economic and investment relations
Videos
Passport strength: Where do Arab countries stand?
The Henley Passport Index ranks 199 passports, based on how many countries and territories their holders can travel to without...
- Japan and Singapore tied for first place of the best international passports
- Germany and South Korea came in second place: Their residents can visit 190 countries without a visa
Economy
IRENA sees rapid growth of hydrogen economy
The development may bring significant geo-economic and geopolitical shifts in the energy market, which is currently valued at $174 billion.
- IRENA estimates hydrogen to cover up to 12 percent of global energy use by 2050
- This is due to the climate urgency and countries’ commitments to net-zero emissions
Geostrategy
Iran, Syria to establish joint free zone, joint bank
Qasemi, who headed a high-ranking delegation to Syria, met with senior officials from Syria.
- The decisions for the establishment of the mentioned entities were made during a three-day visit of the Iranian minister to Syria
- Iranian Transport and Urban Development Minister Rostam Qasemi announced a joint committee is set to be formed between Iran and Syria
Economy
Climate change worsening toll on outdoor workers: Study
Researchers in the United States, who estimated the current cost at $2.1 trillion every year, said the effects of stifling...
- The researchers looked at data on humid heat — particularly dangerous because the body is less able to cool down by sweating
- The study, published in the journal Environmental Research Letters, said around 677 billion work hours are lost a year to humid heat
Economy
EU expects more GCC investors for its special program: Official
On 12th October 2021, the European Commission issued its first-ever NextGenerationEU green bond
- The program is a temporary recovery instrument to help Europe repair the immediate economic and social damage brought about by COVID-19.
- Since June 2021, the European Commission has rolled out five issuances and raised around €71 billion in long-term EU-Bonds, and short-term EU-Bills
Economy
GCC must heed IMF take on emerging economies
The IMF's warning that developing nations are about to face what it called “economic turbulence” is bad news for the...
- GCC countries are depending on emerging nations to diversify their own economies
- With those economies now under a cloud, the GCC nations should choose their next steps carefully
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
UAE to provide US$10m grant to support WTO initiatives, says foreign minister
ABU DHABI, UAE – Emirates Minister of Foreign Affairs Sheikh Abdullah bin Zayed Al Nahyan has announced that the UAE...
Geostrategy
Company News
Latest News
AlNeyadi conducts over 200 research experiments on board ISS
ABU DHABI, UAE - Over the course of a six-month space mission on board the International Space Station (ISS), UAE...
Science
Tech’s carbon footprint: can AI revolutionize responsibly?
The planet's 8,000 or so data centers are the foundation of our online existence, and will grow ever further with...
Business
Grain deal in focus as Putin, Erdogan all set to meet
MOSCOW, RUSSIA - Russian President Vladimir Putin will host his Turkish counterpart Recep Tayyip Erdogan on Monday, the Kremlin said, amid...
Geostrategy
Most Read
Business
Bitay to expand in UAE’s burgeoning crypto market
DUBAI, UAE – Bitay, a cryptocurrency platform from Turkey, announced its expansion into the UAE's burgeoning crypto market. The UAE,...
- Kickstarted by a government research grant, Bitay has been operational in Turkey since 2018 and expanded its services globally in 2021.
- The platform is licensed as a Money Services Business (MSB) in 16 US states and offers services in multiple countries.
Business
Lavoie buys e-bike firm VanMoof
The cost of the acquisition has not been specified.
- VanMoof's bikes, which are sold in 20 countries, are known for their sleek, simplistic design with a battery hidden in the frame.
- VanMoof had raised $128 million in September 2021 in an effort to expand as it rode a boom in the e-bike sector.
Geostrategy
Chinese diplomat, Arab Parliament speaker discuss Middle East
BEIJING, CHINA – The director of China’s Office of the Central Commission for Foreign Affairs met with the speaker of...
- China said the future of the Middle East should be in the hands of regional countries and people.
- The diplomat said China supports an early, fair and reasonable settlement of the Palestinian issue.