Economic growth in Asia forecast to slow to 4.5 percent, says World Bank
Bangkok, Thailand--Asian economies are not doing as well as they could and growth in the region is forecast to slow...Economy
US Federal Reserve’s preferred inflation gauge ticks up as fuel costs rise
WASHINGTON, US – The US central bank's favored measure of inflation edged higher last month on the back of rising fuel...Economy Geostrategy Global
Saudi Arabia to invest $3bn in three new solar projects
Riyadh, Saudi Arabia ‒ The Public Investment Fund (PIF) owned Water and Electricity Holding Company (Badeel) and ACWA Power are investing $3...The solar projects are part of the National Renewable Energy Program (NREP) which is led and supervised by the Ministry of Energy
These projects intend to produce a combined capacity of 4.55GWac of renewable energy, powering approximately 750,000 households
Jordan, Iraq to boost trade through Karama border crossing
Amman, Jordan-- Jordan and Iraq have discussed ways to boost bilateral cooperation in order to develop trade through Karama border...The agreement to boost trade exchange came in a meeting between Jordanian and Iraqi ministers in Baghdad, in which other sensitive border issues were discussed too
The Jordanian minister said the kingdom was constantly focusing on expanding joint cooperation in various fields, particularly in security and economic domains
Mubadala continues to advance UAE’s knowledge economy: Sheikh Mansour
Abu Dhabi, UAE-- Mubadala will continue to advance the UAE's knowledge-based economy in a way that contributes to solutions for...Sheikh Mansour noted that the year 2022 marked twenty years since the Abu Dhabi government set up Mubadala to advance a national agenda focused on knowledge creation and innovation
He said Mubadala's philosphy, agility and long-term investment approach have created a vast array of opportunities for Emiratis that did not exist two decades ago
Sharjah Chamber to send India bound trade group on 29 May
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) announced it will be sending a trade mission to...The initiative aims to bolster economic and trade cooperation, foster mutual investment, and establish promising partnerships between Sharjah and India.
The upcoming trade mission is expected to support the chamber's strategic goals of driving foreign expansion and exploring new markets.
Capable of safeguarding Gulf waters in coordination with neighbors: Iran
Iran said it is capable of ensuring the safety of the vital Gulf waters in cooperation with neighboring countries. Iran...The Gulf waters, which carry at least a third of the world's seaborne oil, have witnessed a spate of incidents since 2018.
Recently the commander of the US Navy's Fifth Fleet transited through the Strait of Hormuz in a guided-missile destroyer.
Biden denounces Republican demands on debt ceiling as ‘unacceptable’
President Joe Biden slammed Republican demands in negotiations to resolve the US debt ceiling standoff as "unacceptable" but said a...The Treasury Department says that the US government could run out of money and default on its $31 trillion debt as early as June 1.
The default can happen if Congress, where Republicans control the House of Representatives, does not authorize more borrowing.
Art Dubai 2023 generates US$39m in economic impact, says new study
DUBAI, UAE - Art Dubai, the leading international art fair for the Middle East and Global South, on Sunday announced...The study showed that Art Dubai 2023 attracted a staggering 23,500 hotel nights bookings to Dubai.
The event had the strongest-ever participation of regional and international institutional representatives.
Need for big investments dark cloud over ChatGPT revolution
Building something even near the scale of what OpenAI, Microsoft or Google have on offer would require billions in investment...Generative AI will be even more dependent on cloud computing and tech giants, leaving the same players in the driver's seat.
Regulators are hoping that they can keep up, and not leave the giants in charge, imposing their terms on smaller companies.
Gulf oil giants turn to start-ups in bid to promote carbon capture
With little investment and few projects in operation around the world so far, the technology to capture carbon before it...Now major players from Aramco to the UAE's ADNOC say that is about to change, as the UAE hosts climate negotiations this year with a message of cutting emissions.
Aramco has invested in Carbon Clean, a UK-based firm that has developed compact technology that captures carbon from industrial smokestacks.
Abu Dhabi launches program for sustainable beekeeping, honey production
ABU DHABI, UAE -Â The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) has launched an ambitious program to develop...The program is based on scientific studies and research to develop the best methods and practices suitable for the UAE environment.
A vital aspect of the program is the breeding of queen bees capable of adapting to the country's unique environment and climate.
