Females make up 37.6% of the GCC population of 57.6 million
Muscat, Oman - The population of the six GCC countries reached 57.6 million in 2023, compared to 56.6 million in...Economy
Global markets rode AI, interest rate roller coaster in 2024
Paris, France - Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for Artificial Intelligence (AI),...Economy
IMF chief at Davos: AI holds risks, opportunity for global economy
Artificial intelligence poses risks to job security around the world but also offers a "tremendous opportunity" to boost flagging productivity..."We must focus on helping low-income countries in particular to move faster to be able to catch the opportunities that artificial intelligence will present," Georgieva told AFP.
Georgieva said 2024 is likely to be "a very tough year" for fiscal policy worldwide, as countries look to tackle debt burdens accumulated during the Covid-19 pandemic.
Saudi inflation rate declines slightly to 1.5 percent in Dec: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia’s inflation declined to 1.5 percent in December 2023, compared with 1.7 percent in November, according to recent...The cost-of-living index for December rose to 110.15 points, according to the base year 2018, from 108.53 points in the same month a year earlier.
Inflation is measured by the percentage change in the cost of living between the current period and the corresponding period of the previous year.
World’s five richest men doubled their fortunes since 2020: Oxfam
A report from the charity, published as the global elite hobnob at the World Economic Forum in Davos this week,...Billionaires are today $3.3 trillion richer than they were in 2020, despite many crises devastating the world's economy since this decade began, including the Covid pandemic.
With riches among the world's wealthiest increasing the way they are, Oxfam predicted that within a decade the world will see its first "trillionaire".
Top economists warn global economy will weaken in 2024
Davos-Klosters, Switzerland--Global economic prospects remain subdued and fraught with uncertainty, according to the latest Chief Economists Outlook released today, as...Around 56% economists expect the global economy to weaken this year, while 43 percent foresee unchanged or stronger conditions
In the MENA region, US the outlook is weaker too, with about six in 10 respondents foreseeing moderate or stronger growth this year
Saudi govt exposes violations in expatriate partnerships
Riyadh, Saudi Arabia - The Saudi National Program to Combat Commercial Concealment has exposed various instances falling under the umbrella...The government identified cases of cover-up, including scenarios where a Saudi citizen transfers ownership of a commercial establishment to a non-Saudi individual
A key point of differentiation stressed by the program is between commercial cover-up and the concealment of labor violations
AI to impact 60% of advanced economy jobs: IMF’s Georgieva
The IMF sees an important opportunity for policy prescriptions to help address these concerns, Georgieva told AFP. "We must focus...The IMF report notes that half of the jobs impacted by AI will be negatively affected, while the rest may actually benefit from enhanced productivity gains due to AI
AI will initially have a lower impact on developing economies and they are also less likely to benefit from the advantages of the novel technology, according to the report
Saudi Arabia leads world in innovation and investment
"This is in the service of humanity and in building an interconnected and innovative future in various fields, including public...Saudi Arabia has emerged as a major technology hub with a $43 billion market.
The Kingdom sees significant growth in women's empowerment and digital capabilities.
Several MoUs signed at Future Minerals Forum in Saudi Arabia
RIYADH, SAUDI ARABIA – The third edition of the Future Minerals Forum (FMF), organized by the Kingdom’s Ministry of Industry...The Ministry of Industry and Mineral Resources and the Japan Organization for Metals and Energy Security signed an agreement.
The first day of the forum also saw the announcement of unexplored mineral estimates, rising from $1.3 trillion to $2.5 trillion.
Saudi Arabia to highlight role in dealing with global challenges at WEF meet
RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...Saudi Arabia’s participation in the annual meet underscores its pivotal role in the transition toward carbon neutrality.
The Kingdom’s engagement provides an opportunity for communication with key players in the private sector globally.
Saudi Vision 2030 aligns with global eco-goals
"The Davos meeting provides a platform for showcasing Saudi Arabia’s significant efforts and progress in these areas ... International partnerships...Saudi Arabia commits to economic diversification through Fourth Industrial Revolution technologies.
The Kingdom's participation in the World Economic Forum highlights its role in global challenges.
