Pakistan, Dubai ink deals worth $3 billion at Davos
Davos, Switzerland - Pakistan and Dubai signed two agreements totaling over $3 billion on the sidelines of the World Economic...Economy
Dubai at forefront of sustainable energy innovations
“We're witnessing strong, growing, and sustainable demand for energy and water in Dubai. In 2023, the peak electricity load rose...Economy
ADNOC partners with BP, Masdar
The three firms will create green hydrogen and sustainable aviation fuel.ADNOC and BP will begin the design phase of the H2Teesside low-carbon hydrogen project.
Cooperation agreements related to BP's HyGreen Teesside, a large-scale green hydrogen production facility in UK.
Global issues slowing down labor market recovery: ILO
Labor incomes have not yet recovered for the majority of workers. In 2021, three in five workers lived in countries...The sharp rise in vacancies in advanced economies led to a tightening of labor markets with a growing number of jobs available relative to job seekers.
But, it dropped in Q1 2022 to 3.8 percent below pre crisis benchmark (Q4 2019), amounting to a deficit of 112 million full-time jobs.
To use rather than collect, the second coming of Non-Fungible Tokens
The non-fungible token (NFT) craze, just over a year old, has given the world works that have sold for millions...Tens of billions of dollars have been poured into digital assets market, while also provoking discussions about how they could be useful in the real world.
Regardless, NFTs, in conjunction with growing interest in the metaverse and a decentralized vision for the internet's future, dubbed web3, are part of building wave of growth.
SRTI Park launches Advanced Industry Accelerator 2.0
The accelerator programme will provided local and regional start-ups with innovative solutions and strong support system within the thriving SRTI...The accelerator programme will provided local and regional start-ups with innovative solutions and strong support system within the thriving SRTI Park ecosystem
SAIA 2.0 is also in line with the UAE’s industrial strategy 'Operation 300bn', a 10-year comprehensive policy aimed at empowering and expanding the industrial sector
‘Digitization transforming Islamic banking in GCC’
The use of CX capabilities, digital media, predictive analytics can help banks develop personalized Shariah-compliant services, says Dubai Islamic Bank...The use of CX capabilities, digital media, and predictive insights and analytics can help banks develop personalized Shariah-compliant services, says Group CEO Dubai Islamic Bank
Islamic banks partnering across the digital economy through open banking can widen choice by creating new and incredibly exciting financial and non-financial services, he adds
Young Lebanese voters shake grip of traditional parties
The Iran-backed Shiite Hezbollah group and its allies fell just short of the 65 seats needed to control the 128-seat...The Iran-backed Shiite Hezbollah group and its allies fell just short of the 65 seats needed to control the 128-seat parliament
Lebanon shares power among its 18 recognised religious communities, and politics are often treated as a family business
Algeria president sacks central bank chief
Algerian President Abdelmadjid Tebboune on Monday sacked central bank chief Rostom Fadli, in office for less than two years, the...Fadli had taken office in June 2020 as interim head of the central bank of Africa's fourth-biggest economy, later being confirmed in the role
Algeria is a rentier economy dependent on oil exports for 90 percent of its foreign income, and therefore vulnerable to price movements
Digitization to see more GCC women enter workforce
Although the number of female STEM graduates is high in GCC, this couldn't translate into proportionate increase in workforce, says...GCC is witnessing a rise in recruitment of women and more knowledge sharing between companies to ensure women are supported throughout their careers, Harb said.
Digitalization would help organizations that invest in digital tools to hire and retain diverse talent and besides supporting women's active participation in the workplace.
‘Central bank digital currencies can transform financial system’
More countries are experimenting with CBDCs and some are beginning to bring them to market, potentially offering lessons for the...More countries are experimenting with CBDCs and some are beginning to bring them to market, potentially offering lessons for the rest of the world
Some of the questions that were debated included the macroeconomic and geopolitical implications surrounding the roll-out of CBDCs
Sri Lanka inflation hit seventh consecutive record high in April
Hammered by a foreign exchange crisis, the country's 22 million people have been enduring acute shortages of essentials.National Consumer Price Index rose 33.8 percent year-on-year in April, more than six times the 5.5 percent inflation in 2021.
Inflation is likely to rise further in May as fuel price hikes of 35 percent for petrol and 65 percent for diesel.
