Oslo, Norway -- Norway's sovereign wealth fund said Wednesday that it would incorporate artificial intelligence tools into its investment analysis...
New York, United States - OpenAI is ordering hundreds of billions of dollars worth of chips in the artificial intelligence...
The World Bank reports a severe economic downturn in Palestinian economy due to Israel-Hamas conflict, with Gaza's economic contribution falling...The World Bank reports a severe economic downturn in Palestinian economy due to Israel-Hamas conflict, with Gaza's economic contribution falling from 36% to 17% since 2005.
Despite the conflict in Gaza causing job losses, infrastructure damage, and rising poverty, the Palestinian banking sector has shown resilience amidst the ongoing crisis, it adds.
Dubai, UAE - The UAE’s GDP is expected to double in 2024 to 4.8%, up from 2.4% year-on-year in 2023,...The UAE has been actively pursuing non-oil sector expansion as part of its economic development plans
The recent successful sovereign bond sale, which raised US$1.5 billion, has bolstered these efforts
ADCB to sell 80 percent stake in ADCP to Nine Yards Plus.The transaction values ADCP at US$161 million and ADCB will gain of nearly US$133 million subject to closing conditions before end of December 2023.
ADCB will retain a 20 percent stake in ADCP post transaction and will continue its partnership via a long-term relationship agreement.
- RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) attained its highest improvement in the UNCTAD's Liner Shipping Connectivity Index...
This development aligns with the objectives of the National Transport and Logistics Strategy (NTLS).
This achievement adds to the recent major records, including a score of 77.66 during Q3.
Riyadh, Saudi Arabia -- Saudi Arabia’s inflation rose to 1.7 percent in November compared with the previous month, according to recent data...The cost-of-living index for November rose to 110.06 points, according to the base year 2018, from 108.25 points in the same month a year earlier.
The higher consumer price index (CPI) in November was mainly impacted by a 7.8 percent rise in housing, water, electricity, gas, and other fuel prices.
The agreement will see states given the "possibility to exclusively support" the acquisition of new renewable generation, in line with...EU's plans are aimed at making the market less vulnerable to volatility
The deal includes a regulation that will improve the EU's protection against market manipulation
- “In the context of energy transition, flexibility is gaining more traction in the energy markets. This is exactly what small...
Kirill Komarov of Rosatom underscores the importance of nuclear power in combating climate change.
SMRs have become crucial for decarbonizing remote areas reliant on carbon-intensive diesel generators.
Abu Dhabi, UAE – The Central Banks of the United Arab Emirates and Qatar have chosen to maintain their current...The Central Bank of the UAE (CBUAE) announced that it would keep the Base Rate for the Overnight Deposit Facility (ODF) steady at 5.40 percent
Following suit, Qatar Central Bank (QCB) also maintained its current interest rates, including the rates for deposit, lending, and repurchase agreements
Brhane said the World Bank integrated climate into all its work across the MENA region and is on track to...The funding supports both reducing net emissions and resilience projects, said Meskerem Brhane, the bank's Regional Director for Sustainable Development, MENA.
She added that by embracing green growth strategies, the region's GDP could potentially grow to over $13 trillion by 2050.
- With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is...
With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is making strides towards a greener future, says an expert.
However, challenges remain in meeting the Paris Agreement goals and ensuring all nations can participate in the transition, adds Ferdinand Varga of Boston Consulting Group.
