Digital innovation fuels surge in Iraq’s banking sector
"These banks excel not only in financial performance but also in adapting and innovating. Through partnerships with global entities like...Economy Opinion
GASTAT issues FDI statistics of Saudi Arabia for Q4 2023
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) issued on Friday the Foreign Direct Investment (FDI) statistics for...Business Economy
US debt ceiling issue keeps Biden, aides busy at G7
President Joe Biden may be on the other side of the world but his political fight back home over the...The Group of 7 meeting in Japan is an important stage for Biden's goal of restoring US leadership among the world's democracies.
"It is definitely a subject of interest here at the G7," National Security Advisor Jake Sullivan told reporters.
G7 to focus on ‘responsible’ use of artificial intelligence
The world must assess the impact of generative artificial intelligence, G7 leaders said, announcing they will launch discussions this year...Text generation tools such as ChatGPT, image creators and music composed using AI have sparked delight, alarm and legal battles.
European Parliament lawmakers this month also took a first step towards EU-wide regulation of ChatGPT and other AI systems.
UAE to implement support scheme for low-income farm owners
DUBAI, UAE - The Ministry of Community Development and Etihad Water & Electricity have announced the implementation mechanism of the...The support aims to reduce the financial burden related to electricity bills, as part of an integrated and holistic approach to help low-income families in UAE.
Beneficiaries can check the monthly support amount by referring to their farms’ consumption bill through Etihad Water & Electricity’s service channels.
UAE discusses clean energy partnerships with Germany, Netherlands
ABU DHABI, UAE - A senior UAE official of the Ministry of Energy and Infrastructure (MoEI) visited Germany and the...Over 11,500 decision-makers, energy ministers and CEOs from over 100 countries participated in the World Hydrogen Summit 2023 in Netherlands.
A senior UAE official provided an overview of the country's energy transition, with a focus on its hydrogen industry.
Namibia supports Saudi Arabia’s bid to host Expo 2030 in Riyadh
Riyadh, Saudi Arabia--Namibia has voiced its support for Saudi Arabia's bid to host Expo 2030 in Riyadh.This was announced by...Bureau International des Expositions (BIE) Secretary General in March said that Saudi Arabia has presented a ‘strong’ case to host World Expo 2030
The kingdom aims to host the Expo in Riyadh from October 1, 2030 till March 31, 2031 under the theme “The Era of Change: Together for a Foresighted Tomorrow.”
UAE takes steps for smooth rollout of corporate tax
The Ministry of Finance calls on public to rely only on official publications for information on the tax law, while...The Ministry of Finance calls on public to rely only on official publications for information on the tax law, while Dubai launches an integrated training programme for awareness
The new "Tax Agents Classification" initiative, meanwhile, aims to simplify tax compliance for taxpayers by allowing them to select a specialized Tax Agent based on their sector
Gulf Air, Emirates sign deal
The two airlines announced the start of a codeshare agreement.To begin with, Gulf Air will apply its code to many Emirates' destinations in Europe and the Far East, thus ramping up the number of routes for its customers
The deal will enable its premium customers to access Emirates' lounges in Dubai and also combine ticketing, check-in and baggage transfers, beside benefiting from competitive fares
TRENDS Poll: 36% believe GCC banks threatened by US, Europe banking crisis
Due to the GCC's strong linkages with the global banking system, concerns have risen that the banks in the region...The poll question asked: Are GCC banks under threat from the banking crisis in the United States and Western Europe?
Due to the GCC's strong linkages with the global banking system, concerns have risen if the banks in the region will face the same struggles
FAB hosts Chinese businessmen for summit on boosting trade
Abu Dhabi, UAE-- Seeking to deepen the UAE's economic and trade relationship with China, First Abu Dhabi Bank hosted more...With investment and trade touching US$330 billion during the last ten years, China has emerged as the Middle East's largest trading partner
Last year, the bank became the first financial institution from the UAE to open a branch in Shanghai thus pushing trade and investment flows across the region
UAE looks to strengthen economic ties with Central Asian states
Dubai, UAE-- The UAE is keen to strengthen economic ties with the Central Asian states, which offer many investment opportunities.This...Dr. Thani bin Ahmed Al Zeyoudi said that the UAE was always exploring new markets, and the KazanForum provided a platform to meet with representatives of Central Asian nations
He held bilateral talks with several government ministers and officials, focusing on the current economic landscape, areas of mutual interest and opportunities for investment
