Real challenges of digital transformation
Blockchain enhances security and efficiency by decentralizing data storage, and reducing fraud, David Boast tells TRENDS in an exclusive interview.Technology
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...Technology
US Fed likely to pause rate hikes despite higher inflation
The Fed has raised interest rates 11 times over the last 18 months, lifting its key lending rate to a...Inflation has ticked up again in recent months due to a spike in energy costs, keeping up the pressure on the Fed
In recent weeks many policymakers have said that additional rate hikes will likely be needed to bring inflation down
DEWA embraces Microsoft’s Copilot to drive digital transformation
Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has adopted Microsoft Power Platform and its AI-powered tool Copilot to build smart...In order to benefit from the capabilities of generative AI, DEWA is looking to utilize the latest global technologies in all areas to enhance its digital transformation
Microsoft's Copilot will assist software developers at DEWA in building smart programs and applications that support DEWA’s operations more smoothly
S&P confirms Saudi Arabia’s credit rating at A/A-1 amid reforms
Riyadh, Saudi Arabia--Standard & Poor’s (S&P) has confirmed Saudi Arabia’s credit rating, both in local and foreign currency, as “A/A-1”...The agency gave a stable rating in the wake of the kingdom's ongoing initiatives to carry out significant reforms and achieve structural improvements
The kingdom's growth, according to S&P, will increase at a rate of 3.4% between 2024 and 2026 mainly due to the anticipated rise in oil demand
Inclusive policies key to greater global cooperation
“By placing an emphasis on inclusive policies, embracing digitalization and fostering stronger international collaboration, we can establish a trade landscape...Shamika N. Sirimanne emphasizes the need for inclusive policies and digital transformation to boost global trade
UN's fifth global survey shows 68.6% of trade facilitation measures from WTO's agreement have been implemented
Saudi ministry inks economic pact with Alfaisal University
RIYADH, SAUDI ARABIA - The Kingdom's Ministry of Economy and Planning signed a deal with Alfaisal University to promote economic...Under the MoU, the two parties will cooperate to promote economic development, activate academic research.
The Ministry of Economy and Planning will provide consultations on the use of university resources such as student research.
Sharjah Social Security Fund offers service period purchase option
SHARJAH, UAE - The Sharjah Social Security Fund (SSSF) has allowed the possibility of acquiring the service period for insured...This move aligns with the fund's strategies aimed at enhancing the well-being of employees and providing them with opportunities to boost their pensions.
The fund said it is allowed to procure the service period for insured employees after they have completed a minimum of 20 years of actual service.
Saudi-China Entrepreneurs Association and HKTDC sign MoU
Hong Kong - The Saudi Arabia-China Entrepreneurs Association (SCEA) has signed a Memorandum of Understanding (MoU) with the Hong Kong...The MoU between SCEA and HKTDC aims to fortify commercial ties, particularly aiding startups and service providers eyeing global expansion.
The agreement was signed during the eighth Belt and Road Summit, a two-day event themed "Ten Years of Cooperation for Mutual Benefit".
IMF to exhort China to shift growth model toward consumption
Washington, US--The International Monetary Fund plans to tell China to boost weak domestic consumption, address its troubled real estate sector,...The IMF intends to exhort Beijing to shift its growth model away from debt-fueled infrastructure investment and real estate
In July the IMF forecast China's 2023 growth rate to hover at 5.2% and 4.5% in 2024 but warned it could be lower
Aid groups warn of outbreak of disease in Libya after floods
Several aid organizations have warned of the outbreak of disease in the port city of Derna, after Sunday's flood submerged...Islamic Relief has warned of a second humanitarian crisis from water-borne diseases and shortages of food
The UN has made an appeal for more than $71 million to assist hundreds of thousands in need
Libya flood toll is partly due to years of division, say analysts
TRIPOLI, LIBYA - Over a decade of bloody power battles in Libya have resulted in vital infrastructure falling into disrepair, culminating...Libya has been wracked by conflict and division ever since a NATO-backed uprising toppled and killed longtime dictator Moamer Kadhafi in 2011.
Tripoli-based prime minister blamed the tragedy on the absence of adequate development plans and the "effect of the years" on the dams.
