Exports key target of GCC hydrogen strategies
Clean hydrogen could be bigger than the oil and gas economy for the region, says Jo Bamford, chairman of HYCAP,...Economy
World Bank estimates damage to Gaza infrastructure at $18.5bn
The World Bank said in its interim damage assessment, this is equivalent to 97 percent of the combined economic output...Economy
8 new industrial projects announced at Abu Dhabi’s ‘Make it in the Emirates’ event
Abu Dhabi, UAE - Eight new projects were announced on Thursday during the Make it in the Emirates Forum in...Abu Dhabi’s Industrial Strategy aims to double the sector’s GDP contribution by 2031, leveraging strong enablers such as infrastructure and competitive operational costs,
The Abu Dhabi Investment Office and its partners signed MoU with high-growth companies covering key areas, including manufacturing, banking, oil & gas and healthcare
Dubai approves Palm Jebel Ali masterplan, twice the size of Palm Jumeirah
Dubai, UAE - Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum on Thursday approved the new futuristic development masterplan...Spanning an area of 13.4sq and occupying an area twice the size of Palm Jumeirah, Palm Jebel Ali will feature green spaces and unique waterfront experience
Palm Jebel Ali will feature over 80 hotels and resorts, and a wide choice of entertainment and leisure facilities that will contribute to Dubai’s tourism sector
Jewels of Emirates Show begins in Sharjah
SHARJAH, UAE - The fourth edition of the Jewels of Emirates Show, the first Emirati exhibition dedicated to diamond jewelry,...The Expo Centre Sharjah with the support of the Sharjah Chamber of Commerce and Industry (SCCI) is hosting the event.
Sheikh Majid bin Faisal bin Khalid Al Qasimi, First Deputy Chairman of the Chamber, inaugurated the exhibition.
US Senate all set to pass debt deal bill as default almost avoided
US senators raced to pass a bipartisan debt limit deal approved overwhelmingly by the House of Representatives, with the worst-case...The bill passed the House on Wednesday with a big majority of 314 votes to 117 -- putting it on a glide path to the White House.
The Senate has to agree unanimously to fast-track legislation and any individual member can draw out consideration of a bill for days.
UAE exports to reach $544bn by 2030, says Standard Chartered report
DUBAI, UAE - The UAE is poised to play a pivotal role in global trade with its exports projected to...The report forecasts the global trade industry to reach US$32 trillion by 2030, with a projected growth rate of five percent.
The report said that corridors anchored in Asia, Africa, and the Middle East are expected to outpace the global trade growth rate.
Eurozone May inflation dips to 6.1 percent post drop in energy prices
European Central Bank vice president Luis de Guindos on Wednesday previewed the slowing eurozone inflation rate, calling it "positive" but...Energy inflation dipped into negative territory, falling by 1.7 percent, compared with an increase of 2.4 percent in April.
Food and alcohol were key in driving inflation, rising 12.5 percent in May, although lower than the 13.5 percent pace in April.
Saudi merchandize exports down 14.6% in Q1 as oil exports fall
Riyadh, Saudi Arabia -- Saudi Arabia's merchandize exports decreased by 14.6 percent in Q1 2023, compared to Q1 2022, a...The value of exports amounted to SAR 313.5 billion ($83.6bn) in Q1 2023, down from SAR 367.1 billion ($97.86bn) in Q1 2022.
The decrease originated mainly from oil exports, which fell by SAR 43.1 billion ($11.47bn) or 14.9 percent in the same period.
MoIAT, Shahin sign strategic partnership to enhance UAE’s green mobility
ABU DHABI, UAE - UAE Ministry of Industry and Advanced Technology (MoIAT) has signed a Letter of Intent (LoI) with...According to the Global Electric Mobility Readiness Index (2022), the demand for electric vehicles in the UAE has been rising over the past few years.
The report shows the UAE, which has more than 300 charging stations, has one of the largest charging-station-to-vehicle-ratios in the world.
IEA says renewable energy capacity to increase at record level in 2023
PARIS, FRANCE -  Renewable power capacity will grow by a record number this year as high fossil fuel prices and energy...Global additions of renewable energy capacity are expected to rise by 107 gigawatts to more than 440 GW in 2023.
Newly installed solar and wind capacity is estimated to have save EU electricity consumers $107 billion between 2021-2023.
‘UAE rising as a key player in global hospitality’
“Cities such as Dubai and Abu Dhabi have rapidly established themselves as the hospitality destination of choice for business and...UAE's innovative adaptability attracts significant influx of international tourists, says Siegfried Nierhaus, Vice President Middle East, Deutsche Hospitality
Dubai and Abu Dhabi have established themselves as top hospitality destinations for business and leisure. Hotel room occupancy may exceed expectations in 2023, he adds
