Nobel economist warns of AI dangers amid “amazing possibilities”
Washington, United States - A winner of this year’s Nobel prize in economics warned Monday that artificial intelligence offers "amazing...Economy
Silver price hits decades high as gold rush eases
Stock markets, meanwhile, were mixed as traders weighed a slew of issues: massive AI investments, corporate results, US interest rates,...Business Economy
Saudi Arabia plans to sustain borrowing spree to fund major projects beyond oil: report
Saudi Arabia secured a $2.5 billion revolving credit facility from Abu Dhabi Islamic Bank, Credit Agricole SA, and Dubai Islamic...The National Debt Management Center (NDMC) has estimated Saudi Arabia’s funding needs for 2025 at 139 billion riyals ($37 billion)
Saudi Arabia was one of the largest bond issuers among emerging markets in 2024, issuing $17 billion in international bonds
Dubai ranks among world’s top 10 cities in Global Power City Index for second consecutive year
Dubai, UAE - Dubai has been ranked eighth worldwide and first in the Middle East in the Global Power City...In an annual study released by Japan’s Mori Memorial Foundation, the index highlights Dubai’s role as a leader in innovation, economic dynamism, and global connectivity
This achievement makes Dubai the only city in the Middle East to feature in the top 10, reaffirming its position as a major global hub for business, talent, and investment
Democratization of investments: Digital platforms open private equity to individual investors
The shift towards greater accessibility – which has accelerated particularly within the last five years – has opened up new...Digital platforms are enabling individual investors to access sophisticated tools and strategies
Investors have improved access to strategies which have the potential to elevate returns
UAE labour market transforms with AI revolution and growing demand for high-skill professions
The country is among the most attractive markets for skilled global professionals and talent, thanks to its competitive advantages, including...As 2025 begins, the UAE is expected to see a growing demand for highly skilled professionals, particularly in AI and fields leveraging AI technologies across various industries
A 2024 report by Deel, a global HR management company, highlighted the UAE as the top choice for workers seeking work visas worldwide
Females make up 37.6% of the GCC population of 57.6 million
Muscat, Oman - The population of the six GCC countries reached 57.6 million in 2023, compared to 56.6 million in...The population density was 23.9 people per square kilometre, with the total area of the GCC countries amounting to 2.4 million square kilometres
The Atlas revealed that the total workforce in the GCC countries reached approximately 33.1 million in 2023, compared to 30.3 million in 2022
GCC equity markets ended 2024 in positive territory
Five of seven GCC equity market indices under coverage ended 2024 on the rise, according to an in-depth report on GCC equity...DFM led its peers, wrapping up 2024 with an annual rise of 27 percent
GCC traded values rose at an annualized rate of about 29 percent in 2024,
Dubai real estate sets all-time record in 2024
Dubai’s real estate market has had a record-breaking year, with new milestones being set throughout 2024, culminated in an all-time...First sales from developers climbed by 30 percent year-on-year to US$91 billion
The year marked a 42 percent year-on-year increase in the volume of apartment sales
Saudi Arabia records $5.6 billion trade surplus in October 2024 with 30% growth
Riyadh, Saudi Arabia - Saudi Arabia’s trade balance recorded a 30% monthly growth, achieving a surplus of SAR 20.769 billion...The Kingdom's total international trade volume reached SAR 164.794 billion ($43.51 billion) in October, reflecting a 2% growth
Non-oil exports in October totaled approximately SAR 19.413 billion ($5.24 billion), representing 21% of total exports
Study: Legacy technology not impeding adoption of AI and Machine Learning in UAE and Saudi Arabia
Manufacturers see AI as critical for decarbonization (66%), improving ESG scores, energy monitoring (55%), advancing digital twins (68%), and enabling...The study, conducted by S&P Global Market Intelligence, surveyed over 120 digital transformation leaders from the utility, data center, building, and manufacturing sectors
It reveals that only 23% of respondents in 2024 identified legacy technology as a significant impediment to digitalization, a notable decrease from 33% in 2022
Global markets rode AI, interest rate roller coaster in 2024
Paris, France - Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for Artificial Intelligence (AI),...Wall Street's three main stock indices blew past record highs to set new peaks in 2024, with the Dow Jones Industrial Average climbing above 45,000 points
Donald Trump's victory in the US presidential election gave Wall Street even more of a boost on hopes he will follow through on pledges of deregulation and tax cuts
