Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer...Technology Business Economy
Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria
Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...Economy
Baghdad, Tehran in talks to import gas from Turkmenistan
Tehran, Iran - Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan, with...The pact provides for supplying Iraq with 51 million M3 per day, Iraqi minister of electricity Luay Al-Khatteeb said
He further noted that the Iraqi Ministry of Electricity has fulfilled all gas-related payments to Iran
Situation in Red Sea has a limited impact on food exports so far, says FAO
ROME, ITALY – The situation in the Red Sea has not yet been reflected in the pace of prices for...The decline in the Food Price Index in February 2024 was led by a decrease in the price for cereals and vegetable oils.
The route via the Red Sea accounts for slightly more than 10 percent of the global maritime trade volume.
UAE financial system more secure and efficient than before, says CBUAE
Abu Dhabi, UAE--The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of...According to a CBUAE report, the UAE financial system is more secure because of the implementation of technology throughout the economy
The number of locally incorporated banks (excluding investment banks), at the end of the fourth quarter of 2023, remain constant at 22 banks
Ajman eyes endowment-driven growth, social solidarity
"Reports with statistics on the number, types, values, and uses of endowments enable us to make appropriate decisions regarding endowment...Ajman's 2023 endowment report reveals $541.6 million across 222 endowments, benefiting education, welfare, and mosque affairs.
The latest report notes high trust in endowment management, with 79 percent of endowments managed by related entities.
$2bn earmarked for Saudi real estate by Muslim global HWNIs
Riyadh, Saudi Arabia - Muslim global high net worth individuals (HNWI) are prepared to spend US$ 1.96 billion on real...Makkah (30%) has emerged as the top wish list city by Muslim HNWI for real estate purchases in Saudi, while Riyadh (25%) ranks second
Prices in Makkah have risen by an average of 5.5% over the last 3 years, compared to 5% in Madinah over the same period
UAE construction market soars to $94bn in 2023
Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...According to a report, the growth is attributed to the increase in investments in transport and renewable energy infrastructure
The report added that residential construction captured the highest share of the UAE's construction market last year
Chinese leaders seek ways to boost economy in key event
Beijing, China - China's leaders on Monday wrapped up a week-long key conclave at which they admitted more was needed to...Top officials have been upfront about the myriad challenges China is facing, admitting that a modest five percent growth goal will not be easy
The event capped a week of high-level meetings dominated by the economy, which last year posted some of its slowest growth in years
Jafza reports 28% year-on-year growth in 2023 of new Indian companies
DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the...Over 190 new Indian businesses and a total of more than 1,500 Indian companies have set up business in Jafza.
This move aims to assist Indian businesses in accessing markets across the Middle East, Africa, and Europe.
Residential demand buoyed Qatar’s property sector in 2023
Doha, Qatar - Residential demand continued to buoy the country's property sector in Q4 2023, hapondo, a homegrown property portal,...The report pointed out that despite a decrease in real estate transaction volume to $4.6 billion from $5.82 billion, apartments remained popular for investment
Key residential highlights included the Marina District in Lusail, while The Pearl remained the most sought-after location for apartment seekers
UAE and Greece hold talks to widen economic cooperation
Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues...Al Jaber held several bilateral meetings with Kyriakos Mitsotakis, PM of Greece, George Gerapetritis, Minister of Foreign Affairs, and Kostas Skrekas, Minister of Development
The two sides discussed means of fostering cooperation within the UAE-Greece CEPA agreement, signed during the visit of the Greek PM's to the UAE in 2020
