UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...
Business
G7 vows ‘significant’ new sanctions if Iran sends missiles to Russia
Washington, US - G7 countries warned Iran on Friday that they will impose "significant" new sanctions if Tehran transfers ballistic missiles...
Geostrategy
Geostrategy
UAE energy minister, Romanian counterpart discuss cooperation
ABU DHABI, UAE - UAE Minister of Energy and Infrastructure and Romanian Minister of Energy discussed ways to enhance cooperation...
- The UAE and Romanian ministers discussed importance of international cooperation to address climate change.
- The ministers discussed ways and means to develop cooperation between the two countries
Geostrategy
Europe will return to Russian gas, says Qatar energy minister
ABU DHABI, UAE - European countries will eventually resume higher imports of Russian gas, Qatar's energy minister and gas company...
- Russian gas exports to Europe plunged after Moscow's invasion of Ukraine.
- A mild winter has spared European countries from having to plunder their gas stockpiles.
Science
Global conference on Pharmaceutical Technologies concludes in Dubai
DUBAI, UAE - The 28th edition of the Dubai International Pharmaceutical Technologies Conference and Exhibition (DUPHAT) 2023 concluded. The three-day...
- The largest-ever edition of DUPHAT, the 2023 event brought together more than 1,100 exhibiting companies.
- The event also discussed on how countries in the region can collaborate to enhance partnerships in the pharmaceutical industry.
Economy
US inflation falls to lowest level in over a year
Consumer inflation in the United States slipped in December to the lowest level in over a year, government data showed,...
- The Federal Reserve hiked its benchmark lending rate at a pace unheard of since the 1980s, in hopes of cooling the world's biggest economy.
- The consumer price index in December 2022 rose 6.5 percent from a year ago, the smallest increase since October 2021.
Science
Global actions should not derail energy transition, says WEF
GENEVA, SWITZERLAND– The current energy crisis is driving inflation, slowing economic growth, creating social turmoil and the world should not...
- The WEF report said that steps such as increasing production of electricity from coal or broad-based consumption subsidies, risk derailing energy transition.
- The report proposes a framework for a secure energy system to guide countries and policy-makers.
Geostrategy
UAE takes part in financial inclusion meet under India G20 Presidency
ABU DHABI, UAE - The UAE participated in the Global Partnership for Financial Inclusion (GPFI) meeting in the Finance Track...
- The meeting was held to discuss the Global Partnership for Financial Inclusion work plan for 2023.
- G20 members, invited countries, GPFI members, and international organizations such as the World Bank and OECD attended the meeting.
Business
TSMC posts Q4 profit of US$9.7bn
The Taiwanese company predicts slowing sales for 2023.
- TSMC operates the world's largest silicon wafer factories and produces some of the most advanced microchips.
- It is regarded as a global economic bellwether because so many of its chips are in such a wide array of devices.
Market Report
Stocks mostly drop as traders track China, US rates
Major stock markets mostly dropped as warnings that US interest rates would continue to rise and remain elevated offset growing...
- Sentiment is still closely linked to the outlook for US monetary policy as the Federal Reserve battles to bring inflation down from four-decade highs.
- Policymakers appear determined to keep lifting borrowing costs until they achieve their goal of two percent inflation.
Geostrategy
Global piracy acts drop to 14-year low, says report
Worldwide acts of piracy fell to their lowest level last year since statistics were first established in 2008, a maritime...
- In the Gulf of Guinea, considered a piracy hotspot, just three ships were attacked in 2022 compared to 26 in 2019, the MICA said.
- In the same area, the number of kidnappings dropped to two last year, from 146 in 2019.
Geostrategy
UAE’s FNC participates in Asian Parliamentary Assembly meet
ANTALYA, TURKEY - The UAE Parliamentary Division of the Federal National Council (FNC), participated in the meeting of the Standing...
- During the meeting, the report of APA's Secretary-General was presented.
- Draft decisions of the Political Affairs Committee were discussed and approved.
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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
UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...
Business
Company News
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NMDC, AD Ports Group ink MoU
Business
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...
COP28 UAE
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,...
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...
Geostrategy
Most Read
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.
Geostrategy
Russia, Saudi say sovereign Palestine state vital for regional peace
RIYADH, SAUDI ARABIA – Russia and Saudi Arabia expressed concern on the present situation in Gaza and said that a...
- The two sides discussed the developments in Palestine and expressed their deep concern about the humanitarian catastrophe in Gaza.
- Russia and Saudi Arabia stressed on the need to stop military operations in the Palestinian territories, and the need to protect civilians.
Geostrategy
Russia’s Putin offers assistance in Gaza Strip de-escalation
MOSCOW, RUSSIA - Russian President Vladimir Putin has offered assistance in helping to deescalate the tense situation in the Gaza...
- This offer was made during a telephonic conversation between Russian President Vladimir Putin and Israeli Prime Minister Benjamin Netanyahu.
- The two leaders discussed continued cooperation regarding the evacuation of Russian nationals and family members from the region.