Readying for jobs of tomorrow: WEF’s Till Leopold stresses upskilling
Davos, Switzerland -- In the next five years, millions of jobs will be created. Governments, employers, and education institutions, therefore,...Technology Education Business Economy Geostrategy
Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts
The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...Business Economy
UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...This robust financial footprint positions the UAE as a significant economic force with strong potential for continued expansion.
The focus on emerging markets and the creation of strategic partnerships further amplifies this momentum.
Oman issues Treasury Bills worth US$181m this week
MUSCAT, OMAN – The Central Bank of Oman (CBO) has announced that the total issuance of Treasury Bills amounted to...The value of the allotted Treasury Bills amounts to US$12.9 million for a maturity period of 28 days.
The value of the allotted Treasury Bills amounts to US$74 million for a maturity period of 91 days.
UAE announces monthly allowance of 50% of basic salary for imams, muezzins
Abu Dhabi, UAE - United Arab Emirates has announced a provision of a monthly financial allowance equivalent to 50 percent...Dr. Omar Habtoor Al Darei, Chairman of GAIAE, noted that this initiative is a gesture of appreciation from the President
Imams and muezzins, he added, diligently uphold a conducive environment of worship and serenity
China regulator to ban Evergrande chair from securities market for life
BEIJING, CHINA – Chinese regulators will ban the chairman of property giant Evergrande from the securities market for life on grounds...Unable to repay interest on its loans, China’s real estate firm Evergrande formally defaulted in 2021, sending shockwaves through the industry.
The company has struggled to repay creditors for years, defaulting in 2021 and becoming subject to a winding-up order by a Hong Kong court earlier this year.
Dubai approves rise in energy, water efficiency programs
DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st...The Council reviewed updates of the demand side management strategy for 2030 and 2050.
This is part of the efforts to make Dubai a leading example in efficient energy and water demand management.
Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...This service aims to enhance its strategic partnerships with major international shipping lines, support the maritime sector.
This initiative represents a significant step in bolstering the role of King Abdulaziz Port in Dammam in enhancing the maritime transport sector.
‘UAE offers an economic model for all to emulate’
"This underscores our role in fostering development and regional and global cooperation, aiming to provide an economic model for all...UAE minister Sheikh Nahyan bin Mubarak Al Nahyan highlights economic prosperity and global integration in Dubai.
Attended by more than 600 economic leaders, the event serves as a platform for investment and trade enhancement.
UAE banking sector looks poised for continued growth in 2024
Abu Dhabi, UAE--The UAE banking sector continued its growth momentum last year and is poised for further growth and recovery...The indicators of rising assets, financing and capital adequacy ratios reflect the sector's flexibility and resilience to adapt to the changes the world is witnessing
At the end of December 2023, total deposits of resident and non-resident customers with banks operating in the UAE rose by 4.2% and annually by 13.5% ), reaching $686bn
Iran signs big contracts to increase oil production
Iran sealed contracts worth billions of dollars with domestic companies to boost its oil production in the face of Western...Iranian Oil Minister Javad Owji had said that oil production would reach 3.6 million barrels per day by the end of the Persian year on March 19.
Iran's oil sector suffered a blow in 2018 when Western sanctions were reimposed, forcing foreign companies to leave the country,
Middle East leads way in global methane mitigation
The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming. say an IEA report.
With Saudi Arabia and UAE leading by example through low emissions intensities , the region is setting new benchmarks in environmental stewardship.
