Sustainable practices make GCC economy resilient
A shift to green tech and renewable energy is fostering the Gulf economy's resilience and diversification for a sustainable future,...Economy Uncategorized
Wars to cast pall over meeting of global VIPs in Davos
Paris, France - The world's political and business elites will convene in Davos next week, with wars in Gaza and Ukraine...Business Economy
UN seeks $80m to avert ‘imminent’ Yemen oil spill
Yemen's Huthi rebels already agreed a "framework for cooperation" with the United Nations on the issue last month.Yemen's Huthi rebels already agreed a "framework for cooperation" with the United Nations on the issue last month
The UN has said an oil spill could destroy ecosystems, shut down the fishing industry and close the lifeline port of Hodeida for six months
Saudi Arabia to allow one million hajj pilgrims this year: statement
Saudi Arabia said Saturday it will permit one million Muslims from inside and outside the country to participate in this...After the onset of the coronavirus pandemic in 2020, Saudi authorities allowed only 1,000 pilgrims to participate
The government wants to ensure pilgrims' safety "while ensuring that the maximum number of Muslims worldwide can perform the hajj", Saturday's statement said
Russia’s ruble stages rebound despite Western sanctions
After a historic collapse in the wake of Russia's military offensive in Ukraine, the ruble has staged a spectacular bounceback,...The Feb. 24 military operation triggered unprecedented Western sanctions on Moscow, sending the ruble into free-fall and accelerating already high inflation
Analysts say that success is in many ways artificial and does not bode well for the health of the Russian economy
UAE, UK hold technical workshops on illicit finance threats and risks
UAE and UK authorities met for a series of technical workshops in March 2022 in both Abu Dhabi and London...The workshops were held under the UAE-UK Partnership to Tackle Illicit Financial Flows.
The experts discussed a range of key topics, including understanding money laundering threats and vulnerabilities in the UAE and UK.
DIFC launches ‘Studio Launchpad’ focused on ubiquitous finance
Dubai International Financial Centre (DIFC) has announced the launch of Studio Launchpad, saying it is the world’s first venture studio...The Launchpad is supported by an international group of venture building experts, digital asset pioneers and emerging technology strategists.
 Studio Launchpad is designed to attract and engage a consortium of leading start-up and corporate venture studios.
World food prices hit record high over Ukraine war: FAO
Russia's invasion of Ukraine sent ‘shocks’ through markets for staple grains and vegetable oils, the UN's Food and Agriculture Organization...Russia and Ukraine’s vast grain-growing regions are among the world's main breadbaskets
They have a huge share in global exports of commodities like wheat, vegetable oil, and corn
Economic licenses issued in Abu Dhabi saw 21.5 percent growth in 2021
Abu Dhabi issued 25,427 new economic licenses in 2021, an increase of 21.5 percent compared to the 2020 figure of...The report said that renewed economic licenses increased to 83,484, growing by 15.8 percent, from 72,070 in 2020.
Of the 25,427 economic licenses issued, commercial sector licenses made up 24,077, up 21.4 percent from 19,839 in 2020.
Shanghai lockdown snarls world’s busiest port and China supply chains
Beijing has refused to budge from its strict zero-Covid strategy, and that has forced many companies to halt production and...Shanghai has been sealed off almost entirely for a week following a Covid-19 outbreak fueled by the Omicron variant
The financial hub of China, Shanghai is home to multinational firms and as well as the country’s busiest port
‘Islam forbids infringement on intellectual property rights’
The Committee for Ifta pointed out that ideas have value according to the regulations issued in this regard, and therefore...The Committee for Ifta pointed out that ideas have value according to the regulations issued in this regard, and therefore an infringement on them is not permissible
The Committee warned against taking possession of the intellectual rights of others, benefiting from them, or taking compensation for them except with the permission of their owner
UAE’s GDP beats expectations, grows at 3.8 percent
The UAE's Gross Domestic Product (GDP) for 2021 has exceeded expectations, registering the highest rate in the region of AED...International institutions expected the growth of the country's GDP in 2021 at 2.1 percent.
Our future is going to be promising, and we assure our people that the best is yet to come," Sheikh Mohammed said
