Billionaires on the rise globally- Oxfam Davos report
In its latest annual inequality report, “Takers Not Makers”, Oxfam explores how most billionaire wealth is taken, not earned. At least five...Economy
Social media’s evolving role in GCC spotlighted at Doha conference
Doha, Qatar – The Qatar Investment and Innovation Conference, held on Wednesday, at Barahat Msheireb in Msheireb Downtown Doha, brought...Technology Business
China discovers world’s largest metamorphic rock oilfield in Bohai Sea
BEIJING, CHINA – The China National Offshore Oil Corporation (CNOOC) has announced the recent discovery of the largest metamorphic rock...The Bohai 26-6 oilfield is situated approximately 170 kilometers from Tianjin Municipality.
It has been anticipated that the average daily oil production will surpass 390 cubic meters.
Goldman Sachs, Mubadala ink pact
The two firms have signed a $1 billion private credit deal.The partnership will be managed by Private Credit at Goldman Sachs Alternatives, with a dedicated team across multiple Asia Pacific markets.
This mandate will enable both firms to continue scaling their investment activity in the large and growing Asia Pacific credit market.
Finland, UAE eye collaborations in clean technologies
"There's considerable work to be done to establish a level playing field where low-energy technologies can be freely traded. I...Finland is aiming for climate neutrality by 2035 through the adoption of low-energy, clean technologies.
The WTO can help establish a level playing field for the trade of environmental goods and services.
China pledges to ‘work with all’ for results at Abu Dhabi WTO conference
Abu Dhabi, UAE--China is willing to work with all parties to achieve more pragmatic results at the 13th Ministerial Conference...China, according to Wentao, supports efforts such as the restoration of the normal functioning of the WTO's dispute settlement mechanism
The minister said China also supports the inclusion of the agreement on investment facilitation for development into the WTO's legal framework
WTO chief economist applauds UAE ‘commitment’ to trade liberalization
Abu Dhabi, UAE-- Applauding the UAE's commitment to trade liberalization, including development of green and digital trade globally, Ralph Ossa,...The WTO economist said the UAE is a "natural fit" for hosting the ministerial conference, praising the country's focus on low tariffs and export diversification
Ossa said the conference is looking to make progress on range of issues such as the reform of dispute settlement system, constraints on subsidies leading to overfishing
Majority of WTO members sign investment deal for development
The deal aims to facilitate "the flow of foreign direct investment... particularly to developing and least-developed" countries with the aim...The Investment Facilitation for Development (IFD) Agreement, signed by 75 percent of the WTO's members, would require full consensus before it could be formally incorporated
Despite broad backing, some members may still oppose its integration into the WTO, including India, which typically objects to agreements that do not cover all countries
WTO convenes ministers in UAE with slim hopes for breakthrough
The World Trade Organization's 13th ministerial conference (MC13), scheduled to run until Thursday in Abu Dhabi, the capital of the...
UAE allocates $5m to WTO’s Women Exporters In Digital Economy Fund
Dubai, UAE – United Arab Emirates on Sunday allocated $5 million to a $50 million fund launched Sunday ahead of...The alloocation was announced by the UAE minister Dr Thani bin Ahmed Al Zeyoudi, Chair of the 13th WTO Ministerial Conference 2024, which begins in Dubai today
The new fund aims to unlock the power of the digital economy, helping women exporters overcome financing hurdles and capture untapped opportunities
WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...The director general of WTO said the "ground-breaking initiative... embodies our collective commitment to empower women".
The fund will help businesses run by women in developing countries to adopt digital technologies and increase their online presence.
Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...Binaa Al Bahrain aims to contribute to Bahrain’s long-term development through its iconic projects.
The JV aspires to create job opportunities for Bahrainis in the real estate, hospitality and healthcare.
