‘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...Economy
S&P affirms Saudi Arabia’s A/A-1Â credit rating
Riyadh, Saudi Arabia - The international credit rating agency S&P Global Rating affirmed its foreign and local currency sovereign credit...Economy
Global financial woes may hit Europe, warns ECB chief Lagarde
The ECB president insisted, however, that if the most recent forecasts were confirmed, "we will still have ground to cover...International financial markets went into turmoil after recent crashing of three US lending banks and takeover of Credit Suisse.
The ECB chief Christine Lagarde said that there was "additional uncertainty" when it came to the bank's projections.
Chip war and censorship hobble Chinese tech giants in chatbot race
A flurry of Chinese companies including Alibaba, JD.com, Netease and TikTok-parent Bytedance have rushed to develop services that can mimic...The popularity of ChatGPT in China - where users have to scale Beijing's internet firewall using VPNs - has left Baidu and others scrambling to regain its dominance on home turf
China has announced ambitious plans to become a global leader in the field of AI by 2030, and McKinsey estimates the sector could add about $600 billion every year in China's GDP
Optimal user experience crucial for hybrid workers
More than 60 percent of employees worldwide have chosen hybrid work structures, and over 66 percent of UAE employees prefer...More than 60% of employees worldwide have chosen hybrid work structures, and over 66% of UAE employees prefer to work from home, says an expert
Remote workers face IT challenges that impede productivity, from UCaaS quality concerns to VPN access challenges, adds Gaurav Mohan of NETSCOUT
UAE’s Rashid Rover completes lunar orbit insertion
The first Emirati rover to land on the moon is now on its way to completing the third milestone, the...The first Emirati rover to land on the moon is now on its way to completing the third milestone, the Arrival Phase, which will be the most intense part of the mission
The ambitious mission aims to study the surface of the moon and is funded by the ICT Fund of the Telecommunications and Digital Government Regulatory Authority
World Bank expects Syria economy to contract 2.3% due to quake
Washington, United States--Syria's economy is expected to contract 2.3% more than it otherwise would have due to the impact of last...The World Bank said that the damage from earthquake will cost the Syrian economy $5.2 billion, including physical damages of $3.7 billion and losses of $1.5 billion
It added that the quake effect is likely to widen Syria's economic contraction by 2.3 percent to 5.5 percent this year, worsening economic woes in the war-scarred nation
First India-GCC senior officials meeting held in Riyadh
New Delhi, India - The first ever meeting of senior officials of India and the Gulf Cooperation Council (GCC) was...India has been steadily stepping up institutional engagement of the GCC in addition to regular bilateral meetings with its member countries
As a trade bloc, the GCC is the largest trade partner of India with a total trade of US$154 billion during the last financial year
EIB pledges US$535mn for Syria-Turkey quake reconstruction
Brussels, Belgium--The European Investment Bank today pledged $535 million in earthquake reconstruction and recovery package for Turkey and Syria at...The reconstruction package is meant to restore basic living standards for more than 1.7 million refugees hit by the earthquake
It will focus on Turkish regions devastated by the earthquake and is designed to enhance support for restoration of basic infrastructure
SRC, Alrajhi sign refinance deal
SRC is looking to expand its refinancing portfolio.SRC said that the agreement is the latest in a series of similar deals to support mortgage financiers and originators
It will provide liquidity, capital management, and balance sheet de-risking solutions to enhance real estate financiers’ capacity
Saudi-Iran diplomatic pact leads to prisoner swap deal in Yemen
The UN has confirmed that Yemen's Houthi rebels and its internationally recognized government have reached an agreement to exchange more...According to UN special envoy to Yemen Hans Grundberg, the parties "agreed on implementation plans to release 887 conflict-related detainees from all sides"
It is almost a year since the Houthis said they had agreed to a prisoner swap that would see 1,400 rebels freed in exchange for 823 pro-government fighters
New Saudi law brings in new businesses, more FDI
The New Companies Law simplifies the procedures to set up foreign businesses in Saudi Arabia, and removes several restrictions, says...The New Companies Law simplifies the procedures to set up foreign businesses in Saudi Arabia, and removes several restrictions, James Swallow of PRO Partner Group tells TRENDS
Since the new law's implementation, there has been considerable interest from companies to operate and invest in the Kingdom, says Swallow, adding that is generating employment
