Dubai is a key player in global business landscape
"The emirate is continuing to consolidate its position as an ideal platform that brings together creative ideas and innovative entrepreneurs...Economy Uncategorized
Saudi Aramco halts plan to raise production capacity
Tuesday's announcement was not expected to have an immediate effect on production or exports. After a series of oil supply...Business Economy
Digitization of govt services spurs MENA IT spending
The IT spending in the MENA region will hit US$1.7bn in 2022 as the governments are using technology to streamline...Sixty-six percent of total IT spending in 2022 will go toward communication services, which will remain the largest segment
Global government IT spending is estimated to reach US$565.7 billion this year, up 5 percent from 2021
Are EVs driving towards greener world or uncertainty?
Studies suggest the electric vehicles may not eliminate all emissions even by 2050, particularly those related to mining and battery...Recent studies suggest the electric vehicles may not eliminate all emissions even by 2050, particularly those related to mining and battery production.
Wider adoption of EVs will hinge on affordability which, in turn, is reliant on battery production and robust charging infrastructure
Global medical and recovery tourism worth $100bn annually: Official
The revenues of the medical and recovery tourism, globally, is around $100 billion annually, said Bandar Al Fihaid, President of the...Bandar Al Fihaid, President of the Arab Tourism Organization (ATO) said this in a report.
The ATO president also said that Arab tourists expenditure amounts to nearly $30 billion.
Turkey to resume drilling for gas near Cyprus: minister
Turkey next month will resume drilling operations near the divided island of Cyprus, a top official said Wednesday, threatening to...Turkey had been drilling near waters claimed by its historic rival Greece and the self-declared Turkish Republic of Northern Cyprus (TRNC) recognized only by Ankara
The 2020 crisis was smoothed over when Turkey pulled back a research vessel from the resource-rich region and halted its drilling operation near the island
IMF says talks continue on aid program for Tunisia
The North African country has seen its economy crippled by a crisis exacerbated by the coronavirus pandemic and the war...The North African country has seen its economy crippled by a crisis exacerbated by the coronavirus pandemic and the war in Ukraine, which has sent public debt soaring
Fund officials had "productive" discussions with Tunisian authorities over the past two weeks, and talks "will continue over the coming weeks towards a staff-level agreement
Moody’s says Saudi economy to post 3.9% growth rate
Moody’s has projected the economy of Saudi Arabia to post growth rate of around 3.9 percent from 2022 to 2026.The credit rating agency has issued a report elaborating on Saudi Arabia’s credit profile in terms of economic strength, institutional and governance strength and fiscal strength,
The report emphasized that Saudi Arabia’s credit strengths are derived from its robust government balance sheet, underpinned by moderate debt levels and substantial fiscal reserve
Libyans at boiling point amid summer power cuts
The people of Libya are enduring electricity cuts of up to 18 hours a day, despite their country sitting atop...The electricity crisis is just the latest trial for Libyans after a decade of insecurity, fuel shortages
Many of Libya's seven million people have turned to unreliable, gas-guzzling and polluting generators for electricity
New business licenses in Dubai grow 25% in H1 of 2022
Dubai issued 45,653 new business licenses in the first half (H1) of 2022, registering a growth of 25 percent compared...Dubai issued 45,653 new business licenses in the first half (H1) of 2022, a growth of 25 percent compared to the same period last year
The numbers reaffirm the success of the government's innovative new strategic approaches and policy amendments
Dubai Metaverse Assembly in Sept to host 300 global experts
The assembly will host more than 300 global experts, policymakers, thought leaders, and decision-makers from more than 40 organizations.The global event brings together regional and international experts in Dubai to shape the future of the metaverse.
It explores how technology can be deployed across vital sectors to create better future and quality of life for humanity.
Investments in Saudi startups grow by 244 percent in H1 2022
Investments in Saudi startups grew by 244 percent to a record high of SAR 2.19 billion ($584 million) in the...In fact, the investments in the first half of 2022 surpassed the total investments in 2021, according to a report by the venture data platform, MAGNiTT.
The report said the kingdom advanced to become the second-most active VC market in MENA by number of deals, which rose by 36 percent to 79 deals in H1 2022.
