Generative AI’s most prominent skeptic doubles down
Vancouver, Canada -- Two and a half years since ChatGPT rocked the world, scientist and writer Gary Marcus still remains...Technology Geostrategy Social Tech & Media
Trump fires new 50% tariff threat at EU, drawing stiff response
Washington, United States - President Donald Trump rekindled the US trade war on Friday, threatening to impose a 50 percent...Economy
Qatar real estate trading volume amounts to US$382m in February 2024
DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...The data of the real estate analytical bulletin revealed that 350 real estate transactions were recorded during the month.
The real estate transactions value index recorded a decline of 27 percent. The traded area index recorded a decrease of 18 percent.
US consumer inflation in Feb up as Federal Reserve mulls rate cut
The annual consumer price index (CPI) came in at 3.2 percent last month, the Labor Department said, while the "core"...The annual consumer price index (CPI) came in at 3.2 percent last month, while the "core" measure stripping out volatile food and energy prices edged down slightly to 3.8 percent.
"The index for shelter rose in February, as did the index for gasoline," the department said, both contributed more than 60% of the monthly increase for the overall index.
Baghdad, Tehran in talks to import gas from Turkmenistan
Tehran, Iran - Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan, with...The pact provides for supplying Iraq with 51 million M3 per day, Iraqi minister of electricity Luay Al-Khatteeb said
He further noted that the Iraqi Ministry of Electricity has fulfilled all gas-related payments to Iran
Situation in Red Sea has a limited impact on food exports so far, says FAO
ROME, ITALY – The situation in the Red Sea has not yet been reflected in the pace of prices for...The decline in the Food Price Index in February 2024 was led by a decrease in the price for cereals and vegetable oils.
The route via the Red Sea accounts for slightly more than 10 percent of the global maritime trade volume.
UAE financial system more secure and efficient than before, says CBUAE
Abu Dhabi, UAE--The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of...According to a CBUAE report, the UAE financial system is more secure because of the implementation of technology throughout the economy
The number of locally incorporated banks (excluding investment banks), at the end of the fourth quarter of 2023, remain constant at 22 banks
Ajman eyes endowment-driven growth, social solidarity
"Reports with statistics on the number, types, values, and uses of endowments enable us to make appropriate decisions regarding endowment...Ajman's 2023 endowment report reveals $541.6 million across 222 endowments, benefiting education, welfare, and mosque affairs.
The latest report notes high trust in endowment management, with 79 percent of endowments managed by related entities.
$2bn earmarked for Saudi real estate by Muslim global HWNIs
Riyadh, Saudi Arabia - Muslim global high net worth individuals (HNWI) are prepared to spend US$ 1.96 billion on real...Makkah (30%) has emerged as the top wish list city by Muslim HNWI for real estate purchases in Saudi, while Riyadh (25%) ranks second
Prices in Makkah have risen by an average of 5.5% over the last 3 years, compared to 5% in Madinah over the same period
UAE construction market soars to $94bn in 2023
Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...According to a report, the growth is attributed to the increase in investments in transport and renewable energy infrastructure
The report added that residential construction captured the highest share of the UAE's construction market last year
Chinese leaders seek ways to boost economy in key event
Beijing, China - China's leaders on Monday wrapped up a week-long key conclave at which they admitted more was needed to...Top officials have been upfront about the myriad challenges China is facing, admitting that a modest five percent growth goal will not be easy
The event capped a week of high-level meetings dominated by the economy, which last year posted some of its slowest growth in years
Jafza reports 28% year-on-year growth in 2023 of new Indian companies
DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the...Over 190 new Indian businesses and a total of more than 1,500 Indian companies have set up business in Jafza.
This move aims to assist Indian businesses in accessing markets across the Middle East, Africa, and Europe.
