GCC economies eye $2.5trn from better productivity
The region pins hope on the new Productivity Potential Index that offers a forward-looking framework, incorporating environmental, health, and innovation...Economy
IMF, World Bank say Gaza and Red Sea attacks risk to world economy
World Bank President Ajay Banga said that "what's going on Gaza, but also the challenges of Ukraine... and the Red...Economy Energy Geostrategy
Why crypto’s big ‘merge’ is causing big headaches
Regulators have begun to pay attention, with US Securities and Exchange Commission Chairman Gary Gensler suggesting proof-of-stake looked like a...De Vries, whose Digiconomist website models the energy use of Bitcoin and Ethereum, said consumption had indeed plummeted by more than 99 percent on Ethereum
Cryptocurrencies were envisaged as a decentralized alternative to the banks, corporations, and governments that failed so spectacularly during the global crash of 2008
Saudi Arabia, China sign agreement on air transport
The agreement was signed between the President of the Civil Aviation Authority of Saudi Arabia Abdulaziz bin Abdullah Al-Dialej and...The pact was signed between the Saudi Arabia’s President of the Civil Aviation Authority Saudi Arabia Abdulaziz bin Abdullah Al-Dialej and his Chinese counterpart
It aims at increasing the number of air flights and stations and achieving further cooperation in the air transport sectors of the two countries.
OIC new mechanism to settle investment disputes
The OIC, a 57 member body, has been working on a mechanism for the investment dispute redressal among member states...The OIC, a 57 member body, has been working on a mechanism for the investment dispute redressal among member states for years now
The four-day meeting in Casablanca is set to establish the permanent mechanism to encourage, protect and guarantee investment of member states
World Bank okays $400m project to help Egypt decarbonise freight railway
The project will support Egypt's integration into global value chains and its efforts to become a regional trading hub.The project will support Egypt's integration into global value chains and its efforts to become a regional trading hub
It will significantly contribute to Egypt's 2050 Climate Change plan, given the expected reductions in greenhouse gas emissions
Startups adopt new strategy to survive post pandemic
Post pandemic, startups, SMEs, and entrepreneurs must adopt a new mentality to scale their enterprises and survive, says Awfa Mustafa,...The classic challenges that startups face revolved around getting funds, managing cash flow and acquiring the necessary skills and talents.
During and after the pandemic everyone went online all of a sudden and no one was prepared for this shift, even though many startups thought they would benefit from it.
IEA urges Europe to reduce winter gas consumption
Europe must ramp down gas consumption to survive the winter given perilously low stocks amid fears of a total cut...The IEA warned of "unprecedented risks" of shortages unless demand is reined in, estimating cuts of nine percent are needed
IEA said diversification had at least enabled gas stockage facilities to stand at almost 90 percent of capacity at the end of September
Turkey, Libya sign maritime hydrocarbons agreement
Turkey's foreign minister signed a deal in Libya's capital Monday allowing for oil and gas exploration in 'Libyan waters'.The deal follows an agreement Turkey signed with authorities in Tripoli in 2019, which demarcated the countries' shared maritime borders.
The deal came at the height of a year-long battle between rival governments vying for control of the capital.
UAE takes part in G20 Finance Track in Indonesia
UAE's Ministry of Finance (MoF) participated in the third Framework Working Group (FWG) meeting within the G20 Finance Track for...The meeting was held in Indonesia and sought to discuss key global economic issues.
G20 members, invited non-G20 member countries, representatives of the World Bank, IMF, and OECD also attended the meeting.
UAE Ministry of Emiratization launches Customer First forum
UAE Ministry of Human Resources and Emiratization has launched the Customer First Forum, comprising virtual sessions on a weekly basis...The Customer First Forum aims to take feedback of all parties on the labor market legislations.
It also seeks to enhance direct communications between the ministry and the private sector.
Turkey reels from surging inflation as it hits 24-year high
Turkish inflation jumped to a new 24-year high exceeding 83 percent in September, official data showed Monday after the central...President Recep Tayyip Erdogan, who has focused on growth ahead of a general election in June, has repeatedly railed against higher rates, calling them his "biggest enemy"
The TUIK state statistics agency said Monday that consumer prices rose by 83.45 percent in September on an annual basis, up from 80.2 percent in August
