Residential, hospitality sectors drive Saudi Arabia’s real estate market in H1 2024
The Kingdom’s tourism and entertainment investments, including a new star rating system, support growth in hospitality, positioning Saudi Arabia as...Economy
AI adoption in GCC surges as governments and the private sector embrace technology
With 93% of Saudi workers considering generative AI essential, alongside 95% in the Middle East and 79% globally, the region's...Technology Economy
Sharjah Chamber to host two-day Gulf-Iraq Business event
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) said it is likely to host the first Gulf-Iraq...The theme of the event is “Partnership for a Promising Economic Future”, and is expected to present multiple investment opportunities.
The Chamber hopes the event starts new wave of economic, trade, and industrial relations between the GCC countries and Iraq.
Belt and Road Initiative countries expect more cooperation ahead of China-Arab expo
YINCHUAN, CHINA - In the run-up to the sixth China-Arab States Expo, guests from countries and regions along the Belt...Morocco was the first country in North Africa to sign the Belt and Road cooperation document with China.
Since then, the two countries have maintained close political, economic, and cultural connections.
AI and LLMs poised to transform global job landscape
About 23% of global jobs will transform within five years due to LLMs and AI advancements, according to the World...About 23% of global jobs will transform within five years due to LLMs and AI advancements, according to the World Economic Forum's 'Future of Jobs Report 2023'
Jobs like Credit Authorizers, Management Analysts, and Telemarketers face high automation risks, while Insurance Underwriters and Bioengineers offer brighter future
Stocks diverge as oil hits 10-month high of above $95 per barrel
Brent North Sea crude oil traded above $95 per barrel Tuesday for the first time since November last year, supported...The Federal Reserve is seen keeping interest rates on hold Wednesday but is expected to be cautious over the outlook as crude pushes higher.
In Asian trading, Hong Kong managed a gain while Shanghai was flat. In Europe, London and Paris were in the green while Frankfurt was lower.
Airports Council International sets up first office in Riyadh
Riyadh, Saudi Arabia-- The Airports Council International (ACI) for Asia-Pacific and the Middle East has established its first office in...The office was inaugurated by the kingdom's Minister of Transport and Chairman of the Board of Directors of the General Authority of Civil Aviation, Saleh Al-Jasser
He said that the opening also aligns with the strategy aimed at strengthening air connectivity with countries worldwide, reaching 250 international destinations
There’s a link between health and climate change
“As we prepare for the groundbreaking Health Day at COP28, we are resolute in our determination to address the challenges...At the heart of the COP28 discussions, the UAE, represented by Dr. Sultan bin Ahmed Al Jaber, emphasizes the undeniable link between climate change and health
COP28 seeks to spotlight the fragility of global health systems, the financial implications of climate-induced health crises, and the urgent need for transformative changes
UAE and Serbia hold discussions on signing of CEPA
In order to boost trade and investment flows and private-sector collaboration, the UAE and Serbia have begun talks on Comprehensive...The bilateral non-oil trade in H1 reached US$57.6 million, surpassing the total recorded for the whole of 2020
Until now, the UAE has successfully concluded CEPAs with India, Indonesia, Israel, Türkiye, Cambodia and Georgia
UAE’s $1.5 bn bond issue oversubscribed five times
Dubai, UAE - The UAE's $1.5 billion bond issue saw five times oversubscription, attracting over $7.4 billion in bids, the...The 10-year bond, with a yield of 4.917%, will list on the London Stock Exchange and Nasdaq Dubai, maturing in September 2033
The allocation was geographically diverse, with 61% going to banks, 32% to fund managers, 4% to pension funds and central banks, and 3% to the insurance sector
Project reuse helps UAE boost sustainability drive
Amid UAE's urban expansion, there's a wealth of structures across the country ripe for revitalization, significantly offsetting the environmental impact...Amid UAE's urban expansion, there's a wealth of structures across the country ripe for revitalization, significantly offsetting the environmental impact of new developments
With projects like Expo City Dubai is leading the way, the nation's architectural landscape is evolving towards a greener future, says Devmark CEO Sean McCauley
Abu Dhabi council review budget, sports development
Abu Dhabi, UAE - Abu Dhabi Sports Council discussed business developments and plans for developing the sports sector here, local...The board reviewed the general financial budget for 2024, which reflects the strong performance of the council and its impact on the sports sector
They also reviewed the strategic and operational performance report for the first half of 2023 and the performance indicators report
