World Bank approves $1.1 bn in financing for Jordan
The World Bank announced Tuesday it will provide Jordan with $1.1 billion in new financing to support economic reforms and...Economy
Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn
Abu Dhabi, UAE -- Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...Business Economy
Saudi Arabia set to be global reference in smart cities
"The use of generative artificial intelligence (AI) extends beyond urban design and development. It involves creating smart cities tailored to...The crucial role of generative AI in developing sustainable, resident-focused smart cities.
Saudi Arabia's integration of IoT into urban living, enhancing communication and connectivity.
Saudi Arabia boosts ‘investment relations’ with African countries
Riyadh, Saudi Arabia-- Saudi Arabia's Ministry of Investment has held a number of roundtable meetings with several African countries on...Saudi Arabia signed a memorandum of understanding with Mauritania to encourage investment flows between the two countries
The kingdom also took steps to enhance economic ties with Chad and Somalia, enabling the private sector to benefit from opportunities
UAE exhorts UNESCO members to join COP28 ‘climate efforts’
Paris, France-- The UAE has made a fervent appeal to members of the United Nations Educational, Scientific and Cultural Organization...The minister made the remarks at the 42nd session of the General Conference of UNESCO General Policy Debate, held in the UNESCO headquarters in Paris
He underscored the UAE's efforts in the field of environmental sustainability and its keenness to enable learners and equip them for the “digital age we live in”
Saudi delegation takes part in Riyadh Expo 2030 symposium in Paris
PARIS, FRANCE - A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the...The symposium serves as the final stop in the Kingdom's journey of its candidacy bid to host the World Expo in 2030.
The final voting process for the host country will take place during a secret ballot on November 28, 2023, at the 173rd General Assembly of the BIE,
Sustainably yours: Redefining travel for green future
The future of travel is expected to see greater use of renewable energy in transportation and advancements in technology, driving...The tourism industry grapples with several environmental challenges, with notable concerns being the carbon emissions associated with air travel
Travelers can help reduce the negative impacts of tourism and support the long-term sustainability of the industry, by choosing sustainable tourism options
Oil prices edge up on Iraq’s backing for OPEC+ output cuts
New York, United States - Oil prices saw a modest 2% increase on Friday, boosted by Iraq's expressed support for...The market witnessed substantial short covering as the week unfolded, partly fueled by Iraq's commitment to OPEC+'s production level agreements
Looking ahead, OPEC+ is scheduled to meet on November 26, where discussions on production levels and potential supply adjustments will take center stage
ADNOC Drilling, Alpha Dhabi set up JV
The two companies will invest up to US$1.5 billion.ADNOC Drilling will own 51 percent of the JV with Alpha Dhabi holding 49 percent, bringing together a market-leading drilling and OFS expert.
This will further develop and scale up ADNOC Drilling’s integrated drilling and oilfield services (OFS) offering and enhance operational efficiencies.
Dubai witnesses green transit revolution
Dubai is actively implementing climate adaptation strategies and technologies in transportation and infrastructure to mitigate climate change effects and enhance...By the end of the decade, the emirate aims to have 10% of public buses run on hydrogen or electric powered, ramping up to 20% by 2035, 40% by 2040, 80% by 2045
According to Sandalkhan, of BCG, Dubai aims to set a global standard in eco-friendly transportation and RTA's 2050 Zero-Emissions plan reflects that ambition
Moody’s downgrades US debt rating outlook to negative
Moody's is the only major agency to maintain its rating for US sovereign debt at its highest level -- underscoring...The US budget deficit, published last month for the 2023 fiscal year ending September 30, has widened to $1.7 trillion
Due to interest rate hikes by the US central bank to curb inflation, the cost of debt for the United States has ballooned
Gaza health system has reached point of no return, says ICRC
The Red Cross called for medical facilities and workers in war-ravaged Gaza to be protected, warning the health system there...Medical facilities and personnel across Gaza have repeatedly come under attack since Israel's war with Hamas erupted just over a month ago.
Such attacks have dealt "a heavy blow to the healthcare system in Gaza, ICRC said.
