Art and culture retain power to humanize the Intelligent Age, says WEF’s Fowler
Davos, Switzerland -- In an age where artificial intelligence is reshaping our lives, the World Economic Forum's Arts and Culture...
World Economic Forum
Israeli airstrike kills five Palestinians in West Bank
Palestinian medics said an air strike targeting a car in the occupied West Bank killed five people on Thursday, while...
EU reaches agreement on reforming bloc’s migration laws
Spain, which chaired the lengthy negotiations in its role holding the EU presidency, said on X, formerly Twitter: "A political...
- The reform includes speedier vetting of irregular arrivals, creating border detention centres, and accelerated deportation for rejected asylum applicants
- The accord still needs to be formally approved by the European Council, representing the 27 EU member countries, and the European Parliament before it enters the bloc's lawbooks
Market Report
Oil prices rise following Red Sea attacks
Oil prices shot up three percent as more companies suspended shipping through the Red Sea following attacks on vessels by...
- Yemen's Iran-backed Houthi rebels said on Monday that they had attacked two "Israeli-linked" vessels in the Red Sea..
- Ships must travel through the Red Sea to use the Suez Canal, a key transit route for cargo and oil..
Geostrategy
Maritime agencies report explosion off Yemen coast
Dubai, UAE - A "possible explosion" struck a key shipping lane off Yemen on Monday, two maritime agencies said, the latest...
- The British military’s United Kingdom Maritime Trade Operations issued a warning of a potential explosion striking near a vessel passing through the Bab al-Mandeb strait.
- "The captain reported... the 'explosion' occurring two nautical miles off one of the vessel's quarters while it was transiting," said maritime security firm Ambrey.
Geostrategy
Moroccan officials questioned in EU graft probe
BRUSSELS, BELGIUM - Several Moroccan officials have been questioned as part of a high-profile investigation into alleged bribery by the north...
- The interviews in Morocco were conducted by local authorities in the presence of Belgian investigators.
- The questionings were the first in the country since Brussels launched a sprawling graft probe in 2022.
Geostrategy
UK shoots down ‘suspected’ drone attack in Red Sea
London, UK - A UK destroyer has brought down a suspected attack drone in the Red Sea, defense minister Grant Shapps...
- Britain announced last month that it was sending HMS Diamond, one of its most advanced naval vessels, to the Gulf to shore up its presence in the region.
- The deployment followed the outbreak of conflict between Israel and Hamas and the seizure of an Israeli-linked cargo vessel by Iranian-backed Yemeni Houthi rebels
COP28 UAE
IEA boss says COP28 bid farewell to fossil fuels
PARIS, FRANCE - While the UN's COP28 climate summit marked a pivot moment, when the world pledged to say "goodbye" to...
- It gave an unmistakable signal to investors that if you continue to invest in fossil fuels you may well have serious business risks
- It gives a signal to the investors for clean energy that they may be more profitable than many people now believe they are.
Number of journalists killed on job in 2023 declines despite Gaza: RSF
In the first 11 months of 2023, 45 journalists were killed carrying out their work, down from 61 last year,...
- While some 63 journalists have been killed in Middle East since the October 7, only 17 of those deaths fell under RSF's definition
- The decline is due to efforts by inter-governmental organizations and NGOs to combat impunity, as well as to greater "prudence" by reporters themselves
Geostrategy
Digitalization has high environmental costs, says UNCTAD meet
DUBAI, UAE - With global attention on the COP28 climate summit, UNCTAD’s eWeek 2023 highlighted digitalization’s potential to accelerate climate...
- Data-driven technologies like the Internet of Things, robotics and artificial intelligence can enhance climate change monitoring.
- The digital transformation has left its mark on the planet through raw material depletion, energy and water use, pollution and waste.
Economy
Global trade likely to decline in 2023 due to changing trade patterns, geopolitics
DUBAI, UAE - The outlook for 2024 remains “highly uncertain and generally pessimistic,” UNCTAD says in the Global Trade Update,...
- Other elements affecting trade include lower demand in developed countries, less trade in East Asia and an uptick in trade-restrictive measures.
- The elements also include an uptick in trade-restrictive measures and lengthening supply chains, particularly between China and the US.
Business
PM issues law forming Dubai Investment Fund to oversee government investments
DUBAI, UAE – Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has issued Law...
- The law endows the Fund with the financial and administrative independence to pursue its objectives along with the legal mandate to do so.
- Dubai Investment Fund will be responsible for investing Dubai Government funds, surpluses and the general reserve locally and internationally.
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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
Art and culture retain power to humanize the Intelligent Age, says WEF’s Fowler
Davos, Switzerland -- In an age where artificial intelligence is reshaping our lives, the World Economic Forum's Arts and Culture...
World Economic Forum
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Attack on Gaza’s Rafah inevitable, says Israeli PM
Israeli Prime Minister Benjamin Netanyahu vowed to send ground forces into Gaza's southern Rafah city. The right-wing premier, whose security...
Geostrategy
Gemini’s inaccurate AI racial images warn of tech titans’ power
AUSTIN, US – For people at the trend-setting tech festival here, the scandal that erupted after Google's Gemini chatbot cranked out...
Science
Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...
Business
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Geostrategy
Leader of US Senate calls for election in Israel
The leader of the US Senate called for Israel to hold new elections in the most strident criticism yet by...
- “As a democracy, Israel has the right to choose its own leaders, and we should let the chips fall where they may,” Chuck Schumer said.
- He said that Netanyahu was one of four "major obstacles" to a two-state solution.
Geostrategy
Israeli forces kill Jordanian in West Bank, says Palestinian ministry
A Jordanian citizen has died after being shot by Israeli forces in the West Bank, Palestinian authorities said, with the...
- The Israeli military said Hussein was suspected of being an accomplice of a Palestinian fighter Muhammad Jabar.
- Jabar was preparing to carry out a suicide attack in Israel, according to the military.
Economy
Situation in Red Sea has a limited impact on food exports so far, says FAO
ROME, ITALY – The situation in the Red Sea has not yet been reflected in the pace of prices for...
- The decline in the Food Price Index in February 2024 was led by a decrease in the price for cereals and vegetable oils.
- The route via the Red Sea accounts for slightly more than 10 percent of the global maritime trade volume.