Strategic initiatives help UAE lead digital economy
“This economy merges national skills and technological solutions, creating an advanced model that contributes to achieving the goals of the...Economy Uncategorized
Norway deal averts Palestinian financial collapse: govt
The portion of the revenues that Israel will transfer to Norway will remain in a Norwegian account until the parties...Economy Geostrategy
Amanat Holdings buys 60% stake in HDC for US$58m
HDC provides special education and care services in S Arabia.HDC has a presence across six provinces of Saudi Arabia and caters to over 3,000 beneficiaries.
It has a network of nine schools, 22 daycare centers and specialized rehabilitation medical clinics.
Saudi culture ministry provides training in UNESCO program
Under its recently announced Experts Program, the Saudi Ministry of Culture has provided an intensive leadership training course for Man...MAB is an intergovernmental scientific program that seeks to enhance the relationship between people and their environments through natural and social sciences.
Delivered in partnership with the UNESCO Regional Bureau for Science in the Arab States, the course brought together 17 local and international participants.
Ma’aden among top 3 buyers of carbon credits
Saudi Arabian Mining Company (Ma’aden) is one of the largest purchasers of carbon credits from the first MENA Voluntary Carbon...The auction offered high-quality CORSIA-compliant and Verra-registered carbon credits, with 15 Saudi and regional entities participating in the sale.
The carbon auction is the largest in the world.
PIF to deploy spending to develop innovative sectors in kingdom
Riyadh, Saudi Arabia--Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has launched a program that will leverage its...The Local Content Growth Program will targets Fund’s goal of increasing to 60 percent its contribution and the contribution of its affiliates towards the Saudi economy by 2025.
The Program also includes a Local Content Policy, in which PIF’s portfolio companies will encourage and support local products and services.
Egyptian pound plummets after 2% interest rate hike
The CBE attributed its decision to elevated global and domestic prices that are expected to keep headline inflation.The CBE attributed its decision to elevated global and domestic prices that are expected to keep headline inflation
The decision aims to uphold the CBE’s mandate of ensuring price stability in the local market over the medium term
Iraq parliament approves new government after year of deadlock
Prime Minister Mohammed Shia al-Sudani's 21-member cabinet is expected to face myriad challenges. The oil-rich but war-ravaged country is plagued...Sudani, 52, was chosen to form the new government on October 13 following months of infighting between key Shiite Muslim factions
The movement of firebrand cleric Moqtada, Sudani's rival in Iraq's majority Shiite camp, refused to join the government
Israel, Lebanon strike ‘historic’ maritime border deal
UN chief Antonio Guterres said he "strongly" believed the deal can promote stability in the region and create "enhanced prosperity...The agreement was signed separately by Lebanon's President Michel Aoun in Beirut and by Israel's Prime Minister Yair Lapid in Jerusalem
US President Joe Biden hailed the "historic" deal, that comes as Western powers clamour to open up new energy production and reduce dependence on Russia
Markets mixed as investors digest ECB hike, US data
Volatile markets were mostly trading up after the ECB announced an expected hike to interest rates in the face of...The euro lost against the greenback on Thursday, after having traded above one dollar for the first time since last month on Wednesday.
After fluctuating for much of the day, Eurozone stocks were flat by late afternoon trading.
UAE President, Austrian Chancellor discuss bilateral relations
UAE President Sheikh Mohamed bin Zayed Al Nahyan and Federal Chancellor of the Republic of Austria Karl Nehammer met in...Leaders of UAE and Austria affirmed their interest in strengthening bilateral relations, especially in technology, energy, innovation and food security.
The two leaders underscored the importance of taking action to ease tension and promote dialogue to resolve crises with humanitarian, economic and food security implications.
US economy grows in third quarter this year
The US economy rebounded in the third quarter, expanding for the first time this year in welcome news for President...The latest GDP figures reflect increases in exports, consumer spending and government spending, said the US Commerce Department.
Gross domestic product rose at an annual rate of 2.6 percent in the July to September period, according to Commerce Department data.
