Middle East & North Africa: Regulatory momentum and DeFi fuel crypto adoption
The Middle East & North Africa (MENA) region ranks as the seventh-largest crypto market globally in 2024, with an estimated...Economy
What are the needs and challenges of an ageing workforce?
Age bias in the world of work is real. But it is more complex and nuanced than the common narrative...Economy
UAE markets top Arab stock exchanges in trading, says AMF
ABU DHABI, UAE - The financial markets of the United Arab Emirates topped the Arab stock exchanges during last week's...The AMF said that the UAE markets achieved monthly market gains of over US$6.2 billion.
The fund said the market capitalization of the Saudi Financial Market reached US$2.97 trillion.
Technical glitch stifles production at Volkswagen
According to financial daily Handelsblatt, production came to a complete standstill in Wolfsburg and at the company's plants in Emden,...The disruption began at 12:30 pm (1030 GMT) and had still not been resolved by the evening, Volkswagen said
The cause of the technical problems was not known but "an external attack is unlikely to be the cause", German automaker said
Saudi Arabia raises the bar, says 100m tourist goal inadequate
Riyadh, Saudi Arabia - Saudi Arabia has announced its intention to revise its tourism goals, increasing the target number of...The previous target of 100 million visits is no longer sufficient, said Saudi minister Mahmoud Abdulhadi
In the first quarter of 2023, Saudi Arabia attracted 7.8 million tourists, the highest quarterly performance in the country's history
Masdar and PLN NP to triple size of Southeast Asia’s largest floating solar plant
Abu Dhabi, UAE--Masdar and PLN Nusantara Power (PLN NP) have signed an agreement to develop Phase II of the successful...The clean energy partnership between the UAE and Indonesia saw further consolidation when the two companies signed the deal to expand FPV plant
The UAE company has developed the region’s largest floating solar facility, the 145 MW Cirata floating solar PV plant in a joint ventre with PT PJB, now PLN NP
Markets mostly up but US rate outlook feeds uncertainty
With inflation still sitting well above the central bank's target and the labor market showing few signs of softening, decision-makers...All three main indexes on Wall Street tanked Tuesday, shedding more than one percent apiece.
Asia started on the back foot but most markets managed to eke out gains following a painful start to the week.
Russian economy to grow 1.5 percent this year, says key European bank
After having forecast a contraction earlier this year in Russia's economy, the European Bank for Reconstruction and Development is now...it said the outlook for 2024 will depend heavily on how the war on Ukraine and the related economic sanctions evolve
Russia's central bank has forecast the country's economy to grow between 1.5 and 2.5% this year and between 0.5 and 1.5% in 2024
Police hold boss of troubled developer China Evergrande: report
Xu Jiayin, who is known as Hui Ka Yan in Cantonese, was taken away by authorities earlier this month, according...Evergrande stocks in Hong Kong fell precipitously on Wednesday afternoon following a moderate rise in morning trading, closing the day 19 percent down
Chinese property developer Evergrande's enormous debt has contributed to the country's deepening property sector crisis, raising fears of a global spillover
Israel makes progress on water-for-energy pact with Jordan and UAE
Dubai, UAE - Israel's energy minister and the CEO of the UAE's renewable energy firm, Masdar, have met to advance...Jordan will provide solar energy generated from a UAE-funded facility to Israel and in return, Jordan will receive desalinated water from Israel
The goal of the agreement is to address Jordan's pressing need for water while helping Israel diversify its clean energy sources
World Bank chief vows to tackle ‘dysfunctionality’ at development lender
The former Mastercard chief executive told the Council on Foreign Relations in New York that the bank should alter its...Banga has previously called on World Bank to collaborate more closely with the private sector to meet the enormous costs associated with climate change mitigation and adaption
On Tuesday, Banga said the bank should carefully target where it wants to encourage private investment to help cap carbon emissions in order to have the biggest impact
Morocco looks to become key player in green hydrogen
According to the country's economy minister, around 1.5 million acres of public land -- nearly the size of Kuwait --...It hopes to harness green hydrogen -- the kind made without burning fossil fuels -- for its sizeable fertilizer sector
Hydrogen is seen as a clean energy source that can help the world reduce atmospheric carbon emissions
