France and UAE sign AI cooperation deal
France and the United Arab Emirates on Tuesday signed a "strategic partnership" on artificial intelligence (AI) aimed at boosting cooperation...Economy
Dubai 21st most richest city in the world, top in the Middle East
New York is the richest city in the world, with 359,500 millionaires and 60 billionaires, although the Bay Area of...Economy
Egypt annual inflation surges to record 36.8 percent in June
The Egyptian pound has lost half its value against the dollar since early last year, shooting prices upward and adding...The previous record of 34.2 percent in July 2017 came, as it does now, following a sharp currency devaluation connected to a bailout loan from the International Monetary Fund
Official data had shown skyrocketing inflation appearing to ease in the past few months, before food and drink prices alone registered a 64.9 percent increase compared to June 2022
Middle East firms pay fortune for employee burnout
A TRENDS exclusive report takes a hard look at how tens of thousands of white-collar workers in Middle East are...It is estimated that businesses in the Middle East suffer a loss of $100 billion every year on account of mental health challenges due to lost working hours
It has also been found that only 15 percent of white-collar workers across the MENA region have access to professional mental health resources
Dubai Transport Authority’s digital channels record 10% jump in 2022 revenues
Dubai, UAE-- Dubai's Roads and Transport Authority (RTA) has reported a 10 percent increase in revenues for 2022 to $953...RTA reported 814 million digital transactions up from 676 million in 2021, a 20 percent growth rate, in addition to a 30 percent jump in the number of registered users
Mattar Al Tayer, Director-General of RTA, said that the company was going ahead with its digitization projects in order to increase its global competitiveness
EU, New Zealand ink deal to enhance trade by 30 percent in a decade
The European Union and New Zealand signed a free trade agreement which Brussels says can lift exchanges between the two...New Zealand Prime Minister Chris Hipkins said it "will generate substantive new economic opportunities. It's of huge benefit to both partners."
"New Zealand is a key partner for us in the Indo-Pacific region, and this free trade agreement will bring us even closer together," the EU chief said from Brussels.
Pro-Iran parties urge Iraq to clear energy dues with Tehran
BAGHDAD, IRAQ - A powerful alliance of pro-Iran factions in Iraq called on Sunday on Baghdad to pressure the United States...Iraq, ravaged by decades of conflict and international sanctions, relies on gas imported from its eastern neighbor for a third of its energy needs.
To reduce their dependence on Iranian gas, Iraq has been exploring several possibilities including imports from Gulf countries like Qatar.
Dubai to expand EV charging points by 170 percent till 2025
DUBAI, UAE- Dubai Electricity and Water Authority (DEWA) aims to grow the city’s network of public charging stations by 170...Dubai Electricity and Water Authority aims to grow the city’s network of public charging stations by 170 percent in less than three years.
The emirate’s Clean Energy Strategy 2050 and Net Zero Carbon Emissions Strategy 2050 seek to generate 100 percent of its power from clean energy sources by 2050.
UAE says 79,000 Emiratis working in private sector
DUBAI, UAE -Â Around 79,000 UAE nationals are working in the private sector, the Ministry of Human Resources and Emiratization...These figures mark a 57 percent increase compared to the end of 2022 figures, where 50,228 UAE nationals were employed in the private sector.
Nearly 17,000 private sector firms employ UAE citizens as of July 7, which was the last day for companies to achieve their semi-annual Emiratisation targets.
Dubai’s RTA digital channels generate revenue of US$953m in 2022
DUBAI, UAE - Director-General and Chairman of the Board of Executive Directors of Dubai’s Roads and Transport Authority Mattar Al...RTA launched a feature that allows users to instantly access their vehicle registration cards for virtual displays upon request.
In 2022 RTA recorded 814 million digital transactions up from 676 million in 2021, reflecting a robust growth rate of 20 percent.
Saudi Arabia should ‘review’ emissions targets: French minister
France's energy transition minister Agnes Pannier-Runacher left the world's biggest oil exporter early Sunday morning after meeting with her Saudi counterpart....Saudi Arabia pledged in 2021 to achieve net zero carbon emissions by 2060. Pannier-Runacher's trip came as the UAE prepares to host the COP28 climate summit.
Largely state-owned energy firm Saudi Aramco, the kingdom's main revenue generator, is targeting "operational net-zero" carbon emissions by 2050.
UK to unveil new measures to support financial sector
Hunt, whose official title is chancellor of the exchequer, will lay out plans for an "entirely new kind of stock...Hunt will set out "how Britain's financial services will support the drive for long-term sustainable growth across the country", the UK Treasury said
The new measures will in particular seek to make the UK stock market more attractive to firms looking to take their businesses public
