Oil prices at risk of further increases due to potential energy disruptions
Crude oil prices soared nearly 9% last week, marking the biggest weekly gain since March 2023, following a significant escalation...Economy
Qatar Airways seeking 25% stake in Virgin Australia
Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal...Business Economy
‘Qatar is a role model in security, sustainable tourism’
"The country's experience in securing the FIFA World Cup Qatar 2022 was noteworthy. The nation's success in this significant challenge...The third Arab Tourism Security Forum focuses on green tourism, governance, and digital transformation
Arab tourism sector recovers post-pandemic with a 15% increase in inbound tourism, highlight experts
Yellen urges more IMF, World Bank reforms for climate, poverty fight
Benguerir, Morocco - US Treasury Secretary Janet Yellen said on Tuesday she backed efforts to boost the lending firepower of the...Yellen said the World Bank's board of governors will endorse at this week's meetings in Marrakesh a new vision to "end poverty on a livable planet"
"It has become common sense that addressing climate change and other global challenges is key to achieving development," she said
First wind turbines reach Saudi green hydrogen plant, says CEO
RIYADH, SAUDI ARABIA - The first wind turbines have arrived at what Saudi officials bill as the world's biggest green hydrogen...Around 30 turbines are expected to be delivered by the end of the year along with the project's first solar panels.
The $8.4 billion NEOM green hydrogen plant is expected to reach full production by the end of 2026.
PIF sets up Tasaru Mobility Investments
The firm will drive strategic investments and partnershipsThe company will focus on developing local supply chain capabilities for the automotive and mobility industry in Saudi Arabia.
PIF has invested in the future of mobility, including establishing Saudi Arabia’s first national electric vehicle brand, Ceer, in partnership with Foxconn.
IMF forecasts UAE GDP growth of 3.4% in 2023
MARRAKESH, MOROCCO - The International Monetary Fund (IMF) has forecast that the UAE's real Gross Domestic Product (GDP) will grow by...The IMF's forecast is in line with that of the World Bank, which released a similar estimate two days ago.
It forecast that the economies of Middle East and Central Asia will grow by 2 percent in 2023 and 3.4 percent in 2024.
World economy resilient, says IMF; keeps growth forecast unchanged
The IMF kept its 2023 global growth forecast unchanged but warned that the economy is "limping along" as inflation remains...Inflation, which has fallen sharply since last year, is predicted to remain elevated at 6.9 percent this year.
Central banks across the globe have raised interest rates sharply in efforts to contain inflation.
Israel-Hamas conflict sparks global economic anxiety
With potential spikes in oil prices and uncertainty surrounding major projects like the IMEC, the world faces a complex economic...With the world grappling with economic challenges, the sudden escalation in the Middle East threatens to send oil prices skyrocketing
Recent reports suggested that Saudi leaders were considering boosting oil production to foster better relations with Israel
Infra investments crucial to Dubai’s growth and global allure
Dubai's iconic skyline and architectural marvels have garnered global attention, offering stunning views for visitors and residents alike. This allure...The emirate's strategic investments in infrastructure, from the Dubai International Airport to iconic landmarks like the Burj Al Arab, have bolstered its global stature
With a prime focus on sustainability and a vision for 2040, Dubai continues to charm and attract businesses, tourists, and investors from across the globe
Oxford Economics predicts 4.4% GDP growth for UAE in 2024
Abu Dhabi, UAE -- Oxford Economics, an independent economic advisory firm, has predicted that the UAE economy will grow by...Scott Livermore, Chief Economist, Oxford Economics Middle East, predicted a 4.2 percent growth in non-oil GDP this year, driven by diversification strategies.
He also expected continued growth in the realty market and a strong recovery in travel and tourism, with Dubai surpassing pre-pandemic visitor levels by the first half of 2023.
UAE helps in shaping future of international archiving
"With the ICA's theme, 'Enriching Knowledge Societies,' we're poised to delve into myriad topics, including the pivotal role of artificial...The UAE, a global hub for diverse sectors, hosts ICA Abu Dhabi Congress 2023, a premier knowledge platform with world-renowned archiving experts and specialists
The Congress emphasizes AI's impact on archiving, expects over 5,000 attendees from 135 countries, and features the ICA Hackathon showcasing student innovations
