Saudi Arabia pursues AI hub future: PIF Governor
Riyadh, Saudi Arabia - Governor of Saudi Public Investment Fund (PIF) Governor Yasir Al-Rumayyan on Thursday positioned Saudi Arabia as...Economy
WEF24: Catalyzing investment, trade transform Africa
Addressing infrastructure and climate change is crucial for Africa's development, British Robinson, the Coordinator of the Prosper Africa Initiative, tell...Economy Climate Change
Russia under pressure as G20 tackles Ukraine war, soaring food prices
Eyeing a joint G20 declaration that would condemn Russia's eight-month-old invasion and threats to use nuclear weapons, US and European...There was a hint at growing Chinese unease with Russia's prosecution of the war when presidents Xi Jinping and Joe Biden met late Monday
Both men voiced opposition to the "use or threat of use" of nuclear weapons in Ukraine, according to a White House account of the meeting
GCC adopts tourism strategy, launches new platform
The Gulf ministers review projects aimed at strengthening joint Gulf action in tourism as well as strategic partnerships between the...The Gulf ministers review projects aimed at strengthening joint Gulf action in tourism, as well as strategic partnerships between the GCC and other countries and parties
The development comes a couple of days after the launch of the UAE Tourism Strategy 2031 that comes under the ‘Projects of the 50'
UAE urges global efforts for trade at B20 Summit in Indonesia
BALI, INDONESIA - Speaking at the B20 Summit in Bali, Indonesia, Minister of State for Foreign Trade Dr. Thani bin...The UAE is working to help the global economy overcome current and future challenges.
The economy of the future will be based on knowledge and innovation.
Bahrain made the highest rate hike in GCC region
Many Gulf states, including the region's two biggest economies, raised key interest rates earlier this month after the US Fed...The Fed raised the rate by three-quarters of a percentage point for the fourth straight time.
The impact of higher interest rates among Gulf oil exporters in 2022 has so far been limited.
Emaar 9M revenue at US$5.1bn
Robust property sales helped firm enhance revenue.Emaar said that EBITDA in 9M 2022 increased by 47 percent to US$ 2.3 billion
The property giant said net profit in 9M 2022 increased by 124 percent to US$ 1.6billion.
UN chief hopeful Russia will extend grain deal
United Nations Secretary-General Antonio Guterres hoped Russia would extend the deal that gives safe passage to Ukrainian grain shipments. The...Russia has said it had yet to decide whether to extend the grain deal beyond November 19, the original date in the agreement.
Both Ukraine and Russia are one of the world's top grain producers.
UAE, Indonesian Presidents to enhance bilateral relations
SOLO, INDONESIA - President Sheikh Mohamed bin Zayed Al Nahyan and President Joko Widodo of Indonesia held talks aimed at...The meeting came as part of the UAE President's working visit to Indonesia to participate in the G20 Leaders' Summit.
The two Presidents exchanged views on several regional and international issues of common concern.
Etihad Credit Insurance issues $1.71 bn in trade guarantees in nine months
Dubai, UAE---Etihad Credit Insurance (ECI) has issued AED6.3 billion ($1.71 billion) in trade guarantees in the first nine months of...ECI's third meeting this year was told that with government's support, ECI has by far issued 7,936 revolving credit guarantees.
These state-backed guarantees helped to protect and create 50,000 jobs by supporting companies, 72 percent of which were SMEs.
Musk sees aliens, tunnels in a candlelit G20 vision of the future
The seemingly disembodied billionaire Twitter owner appeared by video link on Monday to address business leaders in Bali on the...Musk was asked why he had not travelled to Indonesia, the Twitter's new boss joked that his "workload has recently increased quite a lot" after the takeover
He said he wants to see rocket platforms across the world that would allow people to travel "to the complete other side of the world" at 20 times the speed of sound
Climate activists at COP27 decry West’s desire for gas in Africa
European countries have been scrambling for alternative sources of gas after the continent's former top supplier, Russia, slashed exports in...Climate Action Tracker called the global dash for gas a "serious threat" to the Paris Agreement goals -- of keeping global warming well below two degrees Celsius
A report said that Western investment in fossil fuels will eventually evaporate, encouraging African countries instead to seize on the potential offered by solar power
