Building Smart Cities Starts with Listening to People
Successful smart cities address real challenges, like Mexico City’s digitalization of government services.Economy
The future of luxury residential development needs to be green and smart
The GCC luxury market segment has experienced significant growth, driven by an increase in the number of high-net-worth individuals. Accommodating...Technology Business
There are no frozen assets abroad, says Iranian President
TEHRAN, IRAN – Iran President Ebrahim Raisi on Tuesday said that the country’s money is only blocked in South Korea...Iran has forged strong relations with Islamic and other like-minded countries.
The country is keen on membership in regional and extra-regional alliances.
Qatar’s trade balance surplus increases by 12.8 percent in July
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...Imports of goods in July 2023 amounted to around QR 9.4 billion, showing a decrease of 1.6 percent compared to July 2022.
China was the leading country of origin of Qatar's imports with about QR 1.6 billion, a share of 16.7 percent of the imports.
GCC optimistic about FDI growth despite hiccups
Despite a decline in FDI inflows in the past few years, GCC countries remain optimistic as they expect strong economic...The GCC countries are generally stable and have a good track record of protecting foreign investments.
The Gulf nations have abundant natural resources, such as oil and gas, which attract foreign investors in the energy sector.
Renewables helped save $520bn fuel costs globally in 2022: Report
In non-OECD countries, just the saving over the lifetime of new capacity additions in 2022 will reduce costs by up...In addition to these direct cost savings, there would be substantial economic benefits from reducing CO2 emissions and local air pollutants.
IRENA’s Director-General Francesco La Camera said the world must add 1,000 GW of renewable power annually on average every year until 2030 to keep 1.5°C within reach.
Saudi Arabia’s banks post 9.6% rise in aggregate profits in July to US$1.71bn
Riyadh, Saudi Arabia-- Banks in Saudi Arabia have reported a 9.6 percent increase in aggregate profit to $1.71 billion in...The central bank said the aggregate assets of the banks jumped 8.84 percent year-on-year in July to $1.02 trillion
The bank also revealed that loans disbursed to the private sector increased 9.97 percent year-on-year in July to $648 billion
Sharjah to host Gulf-Iraq business forum to ramp up economic ties
Sharjah, UAE--Sharjah will host the first-ever Gulf-Iraq Business Forum on 26th and 27th September to boost economic ties between the...The business forum will look into boosting investment and trade ties between the GCC countries and business groups within Iraq
Iraq has been an old business and trading partner for the countries in the GCC region and the forum will seek to consolidate the cooperation
Saudi Arabia and Turkey to boost ties in industrial, mining sectors
The two countries signed a memorandum of understanding (MoU to boost mining cooperation in critical minerals needed in new technologies...The two countries desire to ramp up mutual investments in the manufacturing sector
Turkish companies would attempt to obtain more shares of Saudi Arabia's projects
GCC shows economic resilience as inflation hits globe
GCC countries consistently maintain inflation rates below the global average, with the Food and Beverages CPI subcategory showing moderate growth...GCC countries consistently maintain inflation rates below the global average, with the Food and Beverages CPI subcategory showing moderate growth across the region
Saudi Arabia's CPI is being driven by housing and food, the UAE experiences a sharp CPI drop due to transport costs, while Qatar sees its lowest inflation since July 2021
NEOM to set up education, research and innovation center
TABUK, SAUDI ARABIA – NEOM has announced plans to establish a world-class education, research and innovation (ERI) center, following last...NEOM’s ERI center will enable access to a world-class education, research and innovation ecosystem at any stage of the life of a learner.
The curricula deployed across NEOM’s ERI pillars will prepare a digitally fluent workforce, equipping students with real-life skill sets.
French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
