Abu Dhabi sees 67% annual rise in number of AI company registrations
Abu Dhabi, UAE - The number of AI companies registered in Abu Dhabi grew at a compound annual rate of...Economy
Arab League organizes workshop to discuss BRICS role in MENA region
Cairo, Egypt--The Arab League (AL) on Sunday organized a workshop in Cairo to discuss the role of BRICS for African...Economy
BHP to face trial in UK
The firm must stand trial to face US$12 billion damages claimMore than 400,000 claimants could eventually join the compensation claim against the Australian company in London's High Court.
The 2015 tragedy unfolded after the dam in Brazil's Minas Gerais region ruptured.
GCC’s digital economy forging ahead rapidly, says Oman IT minister
Muscat, Oman - Saeed bin Hamoud Al Maawali, Omani Minister of Transport, Communications and Information Technology, has said that the...He stressed the importance of promoting cooperation between the GCC and its international partners to increase the pace of digital transformation.
He also noted the need to enhance the cooperation between the UAE and Oman in developing the digital economy infrastructure.
Lebanese PM urges sweeping reforms for reviving economy
Mikati said the economy had grown by nearly two percent in 2022 after two straight years of severe recession that...He said increased revenues from tourism and a rise in remittances from Lebanese living abroad were factors behind the modest growth.
Mikati has led a caretaker government since a May general election failed to deliver a majority to either of Lebanon's rival power blocs.
Share of oil in Saudi exports rises to nearly 80 percent in Oct
Riyadh, Saudi Arabia-- Saudi Arabia's merchandise exports increased by 13.9 percent in October 2022 to SAR 120.7 billion ($32.10 billion),...Merchandise exports increased by 13.9 percent in October 2022 to SAR 120.7 billion ($32.10 billion).
Non-oil exports (including re-exports) increased by 4.4 percent, compared to October 2022, increasing to SAR 24.9 billion from SAR 23.9 billion in October 2021.
UAE launches corporate tax public awareness program
ABU DHABI, UAE - UAE's Ministry of Finance (MoF) has launched a Corporate Tax Public Awareness Program following the issuance...The program has been designed to raise awareness of the UAE corporate tax law among the largest audience possible.
While the sessions are open to the public, the primary target audience includes business leaders from all sectors.
New CBUAE money laundering, terror financing guidelines for insurance sector
Abu Dhabi, UAE---The Central Bank of the UAE (CBUAE) has issued a new guidance on anti-money laundering and combatting the...Insurance operators are required to perform, document, and keep up to date an enterprise risk assessment.
They should maintain transaction monitoring systems equipped to identify patterns of activity that appear unusual and potentially suspicious.
Minister reiterates UAE’s support for global biodiversity framework at meeting
MONTREAL, CANADA - UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri participated in the High-Level Segment...Almheiri urged other ministers to work together towards achieving the meeting’s objective of adopting the post-2020 global biodiversity framework.
The minister called for reversing biodiversity loss and realize the 2050 Vision for Biodiversity of a world living in harmony with nature.
DEWA launches construction work of Hatta Sustainable Waterfalls project
DUBAI, UAE - MD & CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer has launched the...The Hatta Sustainable Waterfalls project is unique for its innovative architectural idea.
The Hatta Sustainable Waterfalls project will use the slope of the upper dam of Hatta plant to create a natural waterfall.
Asian markets join Wall Street advance as recession worries subdue
With dust settling after the Bank of Japan's surprise shift from ultra-loose monetary policy, investors embarked on a mini Santa...The global gains came after hefty selling since the Fed and European Central Bank signalled they would likely lift interest rates higher than expected to fight inflation.
All three main indexes on Wall Street ended more than one percent higher, while European equities also barrelled along.
Crypto can cause global economic turmoil: India’s central bank chief
Mumbai, India - India's central bank governor warned Wednesday that cryptocurrency markets risked causing the next global financial crisis, saying the...The comments close out a challenging year for India's millions of crypto owners, who are already reeling from a global market collapse and steep domestic taxes.
Cryptocurrencies have been under the scrutiny of Indian regulators with a rise in fraudulent transactions leading to a central bank ban in 2018.
