Oil prices soar 4 percent but US inflation fears ease
U.S. crude oil prices rose over 4% on Monday, surpassing $80 per barrel, as the Pentagon deployed additional forces to...Economy
Dubai welcomes record 9.31 million visitors in first half of 2024
Dubai, UAE - Dubai has reinforced its position as a global tourism leader by welcoming a record 9.31 million international...Economy
Unrelenting demand propels Dubai home prices up by 17% in 12 months
Dubai, UAE - Dubai's real estate market continues its upward trajectory, with house prices rising by 4.8% in Q2 2023,...Villa prices have experienced stronger growth, increasing by 51% over the same period, with an average price of AED 1,520 per square foot
Prime neighborhoods like Jumeirah Bay Island, Emirates Hills, and Palm Jumeirah have seen extraordinary growth, with villa prices up by 125% since January 2020
Saudi CST urges public for feedback on ‘space use plan’ for frequency spectrum
Riyadh, Saudi Arabia--The Communications, Space and Technology Commission (CST) has urged the public to provide their views on its space...It has given all "interested parties" in the kingdom and outside a time until September 10 next month to provide views and observations
Early this year, CST announced the formation of a Space Entrepreneurship Alliance to achieve growth and sustainability in the sector
Saudi Arabia and India sign agreement on digital economy
Riyadh, Saudi Arabia - Saudi Arabia and India signed on Friday an agreement on digitization and electronic manufacturing.The agreement seeks...The agreement seeks to enhance Saudi-Indian cooperation in the fields of digital infrastructure, e-health, and e-learning
It also aims at building robust strategic partnerships that promote innovation and the growth of the digital economy
Challenges prevail as UAE adapts to remote work
The UAE labor law has introduced changes to support remote workers, but there are still gaps compared to European countries,...The UAE labor law has introduced changes to support remote workers, but there are still gaps compared to European countries, Liam Doherty of Connect Resources tells TRENDS
The UAE government has granted ministries and federal entities the flexibility to implement the remote work system for federal government employees on some working days
‘UAE’s humanitarian endeavors resonate globally’
"The UAE's humanitarian endeavors and diplomacy have resonated globally, exemplifying unity and camaraderie to pave pathways of hope. We have...The UAE's humanitarian approach is woven into its overarching vision and exemplified by the noble characteristics of the country's various initiatives, says the MoHAP minister
Its humanitarian endeavors and diplomacy have resonated globally, exemplifying unity and camaraderie to pave pathways of hope, adds Abdulrahman bin Mohamed Al Owais
China’s investment rises 23% in BRI countries in Jan-July 2023
BEIJING, CHINA - Between January and July 2023, Chinese enterprises made non-financial direct investments totaling US$13.69 billion (RMB95.34 billion) in...This growth amounts to approximately US$13.69 billion, constituting nearly 20 percent of the overall investment in January-July 2023.
The value of newly signed contracts amounted to US$103 billion, indicating a marginal 0.6 percent year-on-year increase.
Stocks dragged further by US rate worry, China gloom
Expectations of another Fed hike have pushed 10-year Treasury yields -- a gauge of future rates -- close to their...All three main indexes on Wall Street sank for a third straight session on Thursday, while London, Paris and Frankfurt also suffered heavy losses
Asian markets were well in the red, including Hong Kong, which was down for a sixth consecutive trading day, while European investors were also on the back foot
Disparity remains as Saudis, Emiratis see wealth gains
The financial landscape of Saudi Arabia and the UAE is undergoing a significant transformation, with most adults in the region...The net worth per adult in Saudi Arabia surged by an impressive 8.6 percent in 2021, followed by a 6.6 percent increase in 2022, both measured in US dollars.
The Gini coefficient for wealth inequality in 2022 was 86.7 in Saudi Arabia and 86.9 in the UAE, placing both nations among the highest in global wealth inequality rankings.
Saudi, Chinese companies, banks sign 12 pacts worth $1.33bn
Beijing, China - Saudi Arabian and Chinese companies and banks on Wednesday signed 12 agreements involving an investment exceeding $1.33...The two countries focused on strengthening partnerships in urban infrastructure, housing, real estate development, and financing
Saudi Ministry of Municipal, Rural Affairs, and Housing is currently working with several Chinese companies on housing projects worth $800 million
Dubai leverages AI robots in testing construction materials
Dubai, UAE - Dubai has started using robots that employ X-Rays and other latest AI technologies to carry out automated...The technology shortens the duration of the tests from 4 days to 8 minutes, with a record daily increase in the ratio of samples examined to 650%
This will accelerate the process of submitting laboratory results to the consulting sector, ensuring the timely completion of the project stages according to their deadlines
