Debt, trade barriers drag Asian economies in 2024, says World Bank report   Â
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
Economy
US census to include Middle Eastern or North African category
The next US census and federal government forms will include new options for race and ethnicity including a category for...
Geostrategy
Business
Global personal computer shipments decline 14.8 percent in 2023
DUBAI, UAE - Worldwide PC shipments totaled 63.3 million units in the fourth quarter of 2023, a 0.3 percent increase...
- PC shipments reached 241.8 million units in 2023, a 14.8 percent fall from 2022.
- This is the first time that shipment volume has dipped below 250 million since 2006.
Economy
Saudi Arabia to highlight role in dealing with global challenges at WEF meet
RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...
- Saudi Arabia’s participation in the annual meet underscores its pivotal role in the transition toward carbon neutrality.
- The Kingdom’s engagement provides an opportunity for communication with key players in the private sector globally.
Geostrategy
Yemen’s Houthi rebels have built a significant arsenal Â
DUBAI, UAE - Yemen's Houthi rebels, who vowed to retaliate against US and British strikes early on Friday against key military...
- Iran-backed Houthis have carried out a spate of attacks in the Red Sea, claiming to be targeting ships with Israeli links.
- The Houthis have been steadily developing their military capabilities since 2014, when they seized the Yemeni capital Sanaa.
Geostrategy
Saudi Arabia signs MoUs with four countries for development in mining industry
RIYADH, SAUDI ARABIA – The Ministry of Industry and Mineral Resources has signed four Memorandums of Understanding (MoUs) with the...
- The roundtable highlighted the need for governments and industry to achieve economic and social development for local communities.
- A total of 79 governments, 13 international organizations, 15 NGOs and seven business associations took part in the roundtable.
Geostrategy
Top global leaders to attend WEF meet amid Gaza, Ukraine war
Paris, France - US Secretary of State Antony Blinken, Israeli President Isaac Herzog and Middle East leaders will attend a World...
- Blinken and US National Security Advisor Jake Sullivan will be among 2,800 participants at the forum, including more than 60 heads of state and government.
- Argentina's libertarian new president, Javier Milei, French President Emmanuel Macron and Chinese Premier Li Qiang will also participate in the forum.
Economy
UAE economy likely to grow by 3.8 percent in 2025, says World Bank
WASHINGTON, US - The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to...
- The World Bank forecast the growth in the Gulf Cooperation Council countries to rise to 3.6 percent in 2024 and 3.8 percent in 2025.
- The report said that the growth rate in the Middle East and North Africa region slowed down sharply to 1.9 percent in 2023.
Geostrategy
2023 hottest recorded year as Earth nears critical threshold
PARIS, FRANCE - The year of 2023 was the hottest on record, with the increase in Earth's surface temperature nearly crossing...
- Climate change intensified heatwaves, droughts and wildfires and pushed the global thermometer 1.48 C in 2023 above the preindustrial benchmark.
- Nearly half of 2023 exceeded the 1.5C limit, beyond which climate impacts are more likely to become self-reinforcing and catastrophic, said scientists.
Business
Energy companies to test CO2 capture in Brazil undersea oil field
PARIS, FRANCE  - A consortium of Brazilian, British, French and Chinese energy firms will test new technology aimed at capturing CO2...
- The pilot unit will separate oil from CO2-rich natural gas at the bottom of the ocean and reinject the gas directly into the reservoir, TotalEnergies said.
- The company said the high pressure subsea separation (HISEP) technology has the potential to reduce the intensity of greenhouse gas emissions.
Business
Resilient supply chains are essential to global trade: Expert
DUBAI, UAE – For over 30 years, globalization has been the evergreen megatrend as global trade has helped lift some...
- The COVID-19 pandemic highlighted the critical role of resilient supply chains in sustaining economies worldwide to the forefront.
- Wars, armed conflicts, overall increasing geopolitical tensions, and protectionism create serious headwinds for global trade.
Business
Utilizing AI is only possible if skill gap is bridged, says expert
DUBAI, UAE - The Artificial Intelligence (AI) revolution is upon us, with AI becoming a pervasive force in our daily...
- As the rate of AI adoption increases, humans are essential to guiding the technology’s implementation and usage of these technologies.
- Executives estimate that up to 40 percent of their workforce may need to reskill as a result of implementing AI or automation over the next three years.
Debt, trade barriers drag Asian economies in 2024, says World Bank report   Â
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
Economy
Company News
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Four space station crew members leave for Earth
WASHINGTON, US – Four astronauts left the International Space Station on Monday and were bound for Earth following a more than...
Geostrategy
Iran agricultural, food exports hit US$5.5bn in 11 months
TEHRAN, IRAN – The Ministry of Industry, Mine, and Trade said that Iran exported fisheries, livestock, agricultural and food products...
Economy
GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...
Economy
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Geostrategy
Thousands rally in London seeking a truce in Gaza
London, UK - Thousands of protesters marched in central London on Saturday to call for a ceasefire in Gaza amid ongoing...
- The march, from Hyde Park Corner to the US Embassy, was the fifth major demonstration of the year so far in the capital.
- However, marches protesting Israeli assault in Gaza have seen dozens arrested for anti-Semitic chanting and banners.
Business
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
- During the first two months of 2024, India, the US, Saudi Arabia and Iraq accounted for the majority of ACI’s exports.
- The chamber's exports to the US surged during the first two months of 2024 to about US$297 million compared to US$275 million.
Geostrategy
Aid boat ready to set sail from Cyprus for Gaza
A boat laden with food for Palestinians in war-ravaged Gaza was "ready" to set sail from Cyprus, an NGO said,...
- The UN has repeatedly warned of looming famine, particularly in the Palestinian territory's north where no overland border crossings are open.
- With ground access limited, countries have also turned to airdropping aid, although a parachute malfunction turned one delivery on Friday deadly.