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...Economy
New-Age Growth Comes Home to the GCC
The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading...Technology Business Economy Geostrategy Opinion
Space Economy: Saudi Arabia targets stars and beyond
From the establishment of the Saudi Space Authority to Serco Middle East's new space division in Riyadh, the Kingdom is...From the establishment of the Saudi Space Authority to Serco Middle East's new space division in Riyadh, the Kingdom is making significant strides in the space sector
With challenges ahead, the nation's goal is to localize knowledge, foster capabilities, and create a sustainable space ecosystem to secure key position in space economy
Joint Jordanian-Yemeni Business Council to resume activities, says JCC
AMMAN, JORDAN - President of the Jordan Chamber of Commerce (JCC) Khalil Al-Haj Tawfiq on Saturday discussed with Director General...The Jordan Chamber of Commerce stressed on the importance of attracting new Yemeni investments to the Hashemite Kingdom.
The JCC said the Kingdom offers several opportunities in multiple commercial, service and industrial sectors for investors.
Jordan oil bill falls in H1 2023 compared to H1 2022, says government
AMMAN, JORDAN - The value of the Kingdom's oil bill decreased during the first half of 2023 by 15.6 percent,...The value of Jordan’s imports of crude oil, its derivatives and mineral oils went down in the first half of 2023, to reach about JD1.531 billion.
In the first half of 2022, the value of imports of crude oil, its derivatives and mineral oils was about JD1.813 billion.
Saudi Arabia’s foreign trade rises to $172bn in a year
Riyadh, Saudi Arabia - Saudi Arabia’s foreign trade soared to $172 billion last year, the Saudi Minister of Commerce and...The volume of non-oil exports witnessed a 40% growth between 2018 and 2022 reaching a total of $28.7 billion
The Saudi Export-Import Bank played a vital role by providing loans amounting to $4.6 billion
Jordan secures US$1.9bn in foreign aid amid dire global economic conditions
Amman, Jordan--Jordan has succeeded in securing US$1.9 billion in foreign aid and negotiations are underway to ramp it to $3.2...Speaking at a forum, Jordan's minister of planning spoke of the kingdom's financial landscape and how it interacted with global economic trends
The minister also underscored the kingdom's collaboration with international financing entities that offer affordable funding to Jordan's private sector
Saudi Arabia’s archeologists make ‘significant’ discoveries at Al Abla site
Riyadh, Saudi Arabia--Saudi Arabia's Heritage Commission has announced significant discoveries made at the Al-Abla site in Asir region during the...The archeologists discovered features of residential and industrial units with gypsum-coated walls and floors
They found hammerstones, grinders, and pairs of quern stones in various sizes and forms, and shards of pottery
UAE-Hungary Political Consultations Committee discusses boosting cooperation
Budapest, Hungary--Senior officials from the UAE and Hungary met in Budapest on 22nd August for the inaugural round of the...Officials from the two countries reviewed the expanding relations and discussed ways to boost opportunities in order to ramp up economic and trade ties
The UAE ambassador had a series of meetings with senior officials, intellectuals, and cultural figures intended to deepen relations between the two countries
DP World to invest $510m to develop mega-container terminal in India
New Delhi. India - DP World on Friday signed a concession agreement with the Deendayal Port Authority to develop, operate...DP World currently operates five container terminals in India – two in Mumbai, one each in Mundra, Cochin and Chennai
With the addition of the Tuna Tekra terminal, the company will have a combined capacity of 8.19 million TEUs
AI risks repeating social media mistakes, says Microsoft president
NEW DELHI, INDIA - Breakneck development of artificial intelligence risked repeating mistakes made by the tech industry at the start of...AI tools have shown in recent months the ability to generate essays, create realistic images, mimic voices of famous singers and even pass medical exams
But there are also worries that chatbots could flood the internet with disinformation, that biased algorithms will churn out racist material
US Federal Reserve prepared to raise interest rates further
The US Federal Reserve is prepared to raise interest rates higher - and hold them there - to bring down...After 11 rate hikes in less than 18 months, the US benchmark lending rate now sits at a range between 5.25 and 5.5 percent - its highest level for 22 years.
The rapid cycle of interest rate increases has failed to definitively quash inflation, which remains stuck above the Fed's long-term target of two percent.
