MENA Brief | June 19: GCC central banks hold interest rates steady, Diriyah House launched in London
As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington,...Business Economy Geostrategy
Global oil demand to dip in 2030, first drop since Covid: IEA
IEA cited sluggish economic growth, global trade tensions, the rise of electric cars and the shift away from crude to...Economy
A new era of economic growth and productivity with AI
The technology will likely automate millions of jobs, Mark J. Penn, a US businessman, political strategist, and author tells TRENDS...AI is the driving force in productivity and technology for the next few years, Mark J. Penn tells TRENDS
AI will give tech innovators the ability to create the next generation of robots and homebots, he adds
From healthcare to finance: How AI is reshaping global industries and GCC economies
A study by the World Economic Forum reveals that AI could replace around 85 million jobs by 2025KPMG’s recent global study on AI in finance found that the use of AI is rapidly expanding across corporate finance
71% of companies surveyed are using AI within finance operations, while 41% of them use it to a moderate or significant extent
US trading partners hit back on steel, aluminum tariffs
The steep 25-percent levies came into place after midnight with no exemptions despite countries' efforts to avert them, in a...Canada, which is heavily exposed to the US steel and aluminum levies, announced additional tariffs of CAN$29.8 billion ($20.7 billion) on US goods, coming into force Thursday.
Uncertainty over Trump's trade plans and worries that they could tip the world's biggest economy into a recession have roiled financial markets.
IMF approves additional $1.3 billion aid program for Egypt
Washington, United States - The International Monetary Fund has approved an additional $1.3 billion assistance program for Egypt under its...The Fund's Executive Board also completed the fourth review of an ongoing aid program, allowing for the immediate disbursement of $1.2 billion to Cairo
Under the RSF, the IMF provides long-term loans to finance projects aimed at preparing countries for the effects of global warming and helping them with energy transition
Smart cities lead GCC’s IoT boom: NEOM and Smart Dubai in focus
IoT applications are transforming critical sectors such as transportation, where connected vehicles improve traffic management, utilities where smart grids enhance...For instance, to manage the flow of massive stadium crowds during the FIFA World Cup, Qatar leveraged “digital twins,” aggregating data from 40,000 IoT devices.
In a similar vein, Dubai’s Enterprise Command and Control Center uses a combination of AI, digital camera, and thermal imaging technologies to oversee 11,000 surveillance cameras.
Building an anticipatory governance strategy for an increasingly risky world
Anticipatory governance is crucial in navigating today’s risks. While AI tools enhance forecasting, early warning does not always lead to...Global geopolitical shifts are reshaping alliances, creating an unstable multipolar order
Climate change, AI, and conflicts are accelerating faster than expected, disrupting globalization
Building Smart Cities Starts with Listening to People
Successful smart cities address real challenges, like Mexico City’s digitalization of government services.Smart cities must prioritize people over technology to ensure long-term success and acceptance
Ignoring community needs can lead to backlash and project failures, as seen in Toronto and Mexico
Tech and sustainability drive Singapore’s smart tourism vision
To realize its vision for “smart tourism”, Singapore Tourism Board is leveraging cutting-edge technologies like artificial intelligence, data analytics, and...STB’s Tcube, a hybrid innovation space launched in 2021, has helped tourism businesses introduce tech solutions, including Al, into their operations.
More than 1,100 tourism companies have benefited from Tcube programs. Its Singapore Tourism Accelerator has supported 47 start-ups to develop 58 industry solutions across 6 cohorts
The backbone of the digital economy is upskilling: Jayney Howson
AI won't replace jobs, but reskilling will unlock its true potential—lifelong learning is the key, Jayney Howson, SVP of Learning...We’re entering a new phase in the relationship between humans and technology, one that thrives on innovation and potential, Jayney Howson tells TRENDS
We will see many new jobs and roles emerge, such as “Chief AI Officers” (CAIO), “Prompt Engineers” and “AI Ethicists,” he adds
Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...The logistics market revenue in 2023 was US$485 billion by airways, US$2.85 trillion by waterways, US$2.09 trillion by railways and US$3.52 trillion by roadways.
In the Arabian Gulf countries, the focus of the logistics and transport industry is moving from the UAE to Saudi Arabia.