UAE leads solar energy growth with strategic projects
Abu Dhabi, UAE - A new report highlighted the UAE's leadership in the regional solar energy sector, driven by initiatives...Economy Energy
Fossil fuel demand is high in Central Eastern Europe. Here’s how it can make the energy transition
This “responsible transition” is not only defined by the development principles, but primarily by a selective investment approach in our...Economy Energy
Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...Trade between Iran and member states of the EU recorded a decrease of 9 percent from January to December 2023.
During that period, the exchange of products between Iran and the EU member states was valued at US$5 billion.
SCC committee discusses issues related to Sharjah’s economy and tourism
SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...The committee addressed the outcomes of its recent visit to Sharjah Commerce and Tourism Development Authority.
The committee was briefed about the authority’s efforts to stimulate tourism by conducting events throughout the year.
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...Under a 1994 agreement, the PA receives taxes that Israel collects on its behalf -- but Israel has withheld some of these since Hamas's attack
The Palestinian Authority has refused to accept any transfers unless Israel changes its decision, an impasse that has lasted for several months
WEF24: Pragmatic actions to help in carbon neutrality
Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact...Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact Partners tells TRENDS.
He stresses the need for concrete action, emphasizing the importance of pragmatic strategies and sustained investment to overcome the challenges of climate finance.
Qatar minister urges Gaza ceasefire to end Red Sea insecurity
The Houthis, who control vast swathes of Yemen, have said the attacks, beginning in November, have targeted vessels linked to...Many companies have chosen to divert their vessels to avoid the Red Sea
US and UK strikes on Houthi targets have failed to halt the rebel attacks
China maintains basic balance in international payments in 2023
Beijing, China--China maintained a basic balance in its international payments last year, with its current account surplus amounting to US$264.2...China's foreign-exchange regulator said the ratio of the current account surplus to gross domestic product was 1.5 percent last year
The administration's data shows the surplus under trade in goods came in at $608bn last year, the second highest level in the history
Saudi stock market hits 12,500 points, highest since August 2020
Riyadh, Saudi Arabia - The Saudi Stock Market's general index (TASI) surged past the 12,500-point milestone on Sunday, reaching its...The increase can be attributed to the positive momentum generated by the disclosure of financial results, the majority of which met anticipated outcomes
The gains in the Agriculture & Food, Building & Construction and Hotels & Tourism sectors also led shares higher
UAE achieves a milestone in economic diversification
“This is a genuine milestone for our nation. The expansion of foreign trade is a pillar of the UAE’s economic...Despite a global trade decline, the UAE records significant growth in non-oil foreign trade.
CEPA program expands UAE's trade network, enhancing market access and opportunities.
Saudi holdings of US Treasuries surge to $131.9b in December 2023
ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...The Kingdom maintained 16th place among the largest holders of US treasury securities for December.
Saudi Arabia’s holdings of US Treasuries were distributed among long-term and short-term bonds.
KSA seeks to lead global sustainability drive with Alat
Led by Saudi Crown Prince Mohammed bin Salman, Alat is poised to revolutionize the tech sector, aiming for carbon neutrality...Led by Saudi Crown Prince Mohammed bin Salman, Alat is poised to revolutionize the tech sector, aiming for carbon neutrality and creating thousands of jobs.
Alat, with its seven strategic units like semiconductors and smart devices, aims to innovate in over 30 categories, from robotics to heavy equipment, serving diverse industries.
