Abu Dhabi targets 39.3 million visitors by 2030
Emirate's new tourism strategy aims to increase the sector’s contribution to GDP from $13.34 billion in 2023 to $24 billion...Economy
Middle East economy firm despite challenges
Non-oil growth to stay robust, bolstered by a strong non-oil GDP growth in the region's two biggest economies, UAE and...Economy
In Davos, AI excitement persists but fears over managing risks
A recent IMF report said AI would affect nearly 40 percent of jobs around the world, and some 60 percent...Over the course of the week, more than 3,000 policy makers, business executives, academics and innovators discussed some of the world's most pressing issues at the annual meet.
The Forum announced it will hold a special meeting, hosted by Saudi Arabia, on “Global Cooperation, Growth and Energy for Development” on 28-29 Apr 2024 in Riyadh.
Tesla’s Musk throws down the gauntlet
Amid declining sales and safety concerns, CEO covets more control, seeking solace in SpaceX's success.Tesla has lost over US$90 billion in market cap, a rough landing in 2024, and a continuation of a slide that could crash the EV maker’s stock value, data from Refinitiv revealed.
There is declining growth in EV production and a wider slowdown in the market that has Tesla investors nervous.
Markets track Wall St rally but China worries cast shadow
Broader markets were also enjoying a day in the sun though traders struggled to maintain the morning's momentum. Tokyo put...US data points on inflation and jobs, and comments from central bank officials have combined with growing geopolitical tensions to drag equities in January
In light of the latest data, traders have lowered their bets on a March interest rate cut to a little more than 50 percent, down from 80 percent last week
Pakistan, Dubai ink deals worth $3 billion at Davos
Davos, Switzerland - Pakistan and Dubai signed two agreements totaling over $3 billion on the sidelines of the World Economic...One of the key agreements involves the establishment of a rail-based dedicated freight corridor
It will run from Karachi Port on the Arabian Sea through Karachi to the Pipri Marshalling Yard
Middle East needs strong Saudi Arabia, says kingdom’s finance minister
Dubai, UAE-- Saudi Arabia's Finance Minister Mohammed Al-Jadaan said the Middle East needs a strong Saudi Arabia to contribute and...The World Economic Forum meeting in Saudi Arabia will address economic issues, international cooperation and global challenges
The kingdom's finance minister said the region requires a strong Saudi Arabia to contribute and that future outlook looks positive
UAE ranks first in Arab world in labor-resilient countries, says report
Dubai, UAE - Against the backdrop of the World Economic Forum in Davos, Whiteshield announces the release of the Global Labor...As the world confronts the challenges of global warming and the transition to a sustainable future, the impact on labor markets looms large.
The direct consequences of climate change, including displacement, migration, and fluctuations have become increasingly pervasive.
Qatar’s IPI declines by 1.5 percent in November 2023
DOHA, QATAR – The Industrial Production index (IPI) of Qatar in November 2023 reached 91.7 points which is a fall...The IPI, which is released by the Planning and Statistics Authority, is a short-term quantitative index that measures the growth of various industrial sectors in the economy.
The relative weight of main economic sectors under this indicator include mining (82.46 percent), manufacturing (15.85 percent), electricity (1.16 percent), water (0.53 percent).
China’s economy to grow steadily in 2024, say analysts
Beijing, China--China's economy is likely to pick up the pace and grow steadily in 2024 after a bumpy recovery last...Many experts believe that China needs to set an annual GDP growth target of around 5 percent to boost business confidence
The Chinese economy grew 5.2% in the fourth quarter of 2023 year-on-year, following a 4.9% growth in the third quarter
Dubai at forefront of sustainable energy innovations
“We're witnessing strong, growing, and sustainable demand for energy and water in Dubai. In 2023, the peak electricity load rose...DEWA’s state-of-the-art infrastructure bolsters Dubai's global economic and trade hub status.
World's largest solar-powered desalination plant is set to enhance the emirate's water security.
Apple loosens grip on iPhone apps
Apple will permit developers to include buttons or links in apps.The move came after the US Supreme Court on Tuesday declined to hear appeals by Apple and Epic of a lower court ruling in which the iPhone maker was seen as the victor.
Epic in 2020 launched a case aiming to break Apple's grip on the App Store, accusing the tech giant of operating a monopoly in its shop for digital services