UAE vital to enhancing global economic growth: Officials
Abu Dhabi, UAE-- The UAE has expanded its network of trading partners around the world through comprehensive economic partnerships, contributing...Economy
WTO conference ends with acceptance of Abu Dhabi Declaration
Abu Dhabi, UAE--The 13th Ministerial Conference (MC13) of the World Trade Organisation (WTO) has concluded with the acceptance of Abu...Economy
RAKTDA simplifies procedure for getting permits for Rak Holiday Homes system
RAS AL KHAIMAH, UAE-  Ras Al Khaimah Tourism Development Authority (RAKTDA) has announced updates to its holiday homes system.RAKTDA has...The updates are part of the Emirate’s efforts to continue diversifying and strengthening its existing accommodation portfolio of four- and five-star hotels and resorts.
These measures will help in driving a sustained tourism economy that benefits not only investors but also its communities.
As Davos opens, Oxfam urges ‘billionaire busting’ policies
In a report titled "Survival of the Richest", Oxfam said billionaires had doubled their wealth over the last 10 years,...The very wealthy have grown richer amid the cost-of-living crisis sparked by the Covid pandemic and soaring food and energy prices following Russian war, the report said
Since 2020, billionaire wealth has surged by $2.7 billion a day even as inflation outpaced the wages of at least 1.7 billion workers worldwide, Oxfam said
Economic slowdown will force workers into worse jobs: UN
The ILO said deficits in decent work had been worsened by multiple, overlapping crises, including Russia's war in Ukraine, emerging...As prices rise faster than incomes, the cost-of-living crisis risks pushing more people into poverty, the UN's International Labor Organization said
ILO called for an investment surge in education and training, saying two-thirds of global youth labor force was "without a basic set of skills", which limited their job prospect
Qatari banks to shore up liquidity position, profits in 2023: report
Doha, Qatar-- As a windfall of the FIFA World Cup, banks in Qatar are expected to build profits and shore...The report noted that credit rating agencies see the banking sector in Qatar buoyant in 2023 , as their strong provisioning levels will help them maintain a good run for the year
Domestic liquidity conditions are expected to help reduce Qatari banks’ reliance on external funding
Oil prices fall, but hovers near 2023 highs
Brent fell 36 cents, or 0.4 percent, to $84.92 a barrel, while US West Texas Intermediate crude fell 21 cents,...Brent fell 36 cents, or 0.4 percent, to $84.92 a barrel, while US West Texas Intermediate crude fell 21 cents, or 0.3 percent
Last week, oil prices booked their largest weekly increase since October 2022, bouncing back from a significant crash at the start of the year
King Abdullah stresses building infrastructure in Petra to boost tourism
Petra, Jordan--King Abdullah on Sunday highlighted the importance of further developing the city of Petra, and diversifying its tourism product.During...King Abdullah said developing tourism services in the "golden triangle" of Petra, Wadi Rum, and Aqaba, will have a positive impact on Petra and Jordan at large
The number of visitors rose to 905,000 in 2022, increasing by 283 per cent compared to 2021
Most Asian markets rise on optimism
Inflation slows and China reopens to the world, give a boost to markets.China’s emergence from zero-Covid and pledges to boost key sectors are raising hopes for a strong rebound in 2023
After last year's battering caused by surging prices and central bank interest rate hikes, there is a much calmer mood on trading floors
UAE and US form expert group to govern clean energy partnership
The formation of the bilateral body to govern the Partnership for Accelerating Clean Energy (PACE) will be composed of private...It will cover a wide range of proven and emerging technologies, include private and public sector support
PACE financing will support established renewable energy sources like solar and nuclear, as well as new applications such as green hydrogen and carbon capture
Innovation plays key role in tackling climate change
“The COP28 UAE is focused on delivering concrete and pragmatic solutions to ensure 1.5°C remains alive and within reach. This...The UAE supports the renewables-centered energy transition pathway and considers it an important contributing element to the proceedings of the COP28, says Almheiri
The COP28 UAE Presidency will further prioritize the needs of the world’s most vulnerable communities to advance loss and damage funding arrangements, the minister adds
15 top panels to discuss defense advancements in IDEX, NAVDEX 2023
ABU DHABI, UAE - IDEX and NAVDEX 2023 exhibitions, to be held from February 20-23 in Abu Dhabi, will host...The panels will feature prominent leaders and decision makers from around the world
The panels are an ideal platform for facilitating discussions about relevant focus areas in the defense and naval defense sectors
