Boost investment to avert ‘decade of wasted opportunity’: World Bank
Global growth is set to slow from an estimated 2.6 percent in 2023 to 2.4 percent this year, 0.75 percentage...Business Economy
Dubai SME joins hands with CXDA to attract investment
DUBAI, UAE – The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), a part of Dubai...Business Economy
What would be the impact of a US “digital dollar”?
It would still be a dollar issued by the US Federal Reserve central bank, like all US bills and coins...It would still be a dollar issued by the US Federal Reserve central bank, like all US bills and coins used now, but in a digital form
At the same time, the digital dollar would be worth the same as its paper counterpart, a divergence from cryptocurrencies which currently have highly volatile valuations
Saudi achieves 30 percent female labor force target 10 years early
Saudi Arabia has achieved its target of getting 30 percent female labor force participation nearly 10 years ahead of schedule,...The research, carried out by Roland Berger on behalf of Uber, shows that women made up 36 percent of workers in the Kingdom in 2021 — up from 22 percent just three years earlier.
The increase was partly attributed to the success of the Wusool program, which made transport more accessible to working women.
Brent oil rebounds 5 percent from slump as hopes of supplies rise
European benchmark Brent North Sea crude climbed 5.1 percent to $116.80 per barrel in morning deals. New York's WTI contract...Brent tumbled as low as $105.60, having hit a peak of $139 just two days before, as the Ukraine crisis continues to send shockwaves through markets.
The UAE said Wednesday it would urge fellow states in the OPEC oil producers' cartel to boost output.
Ukraine war affects green energy transition
The EU, IEA, and NGOs stress that the development of renewable energy sources and biogas must be accelerated.The global demand for the dirty fossil fuel reached a historic high in 2021 as several countries including China prefer it to pricier gas
Some countries could burn coal for longer, using it to transition to renewable energy sources without passing through a gas-power phase
Britain urges all G7 members to ban Russia oil imports
The US has led a Western assault on Russia's economic lifeline by banning imports of oil and gas followed by...The British foreign secretary, standing alongside US Secretary of State Antony Blinken, hailed transatlantic unity against Russia
Blinken called absurd and offensive the Russia proposal of safe passage of Ukrainians through its own territory
Can Gulf producers tame oil prices?
However, Gulf countries have an interest in acting in coordination — both within OPEC, and with Russia-led allies in the...US President Joe Biden on Tuesday announced a ban on US imports of Russian oil and gas
Britain said it would phase out crude imports from the country by the end of this year
UAE says will urge OPEC to boost oil output
Brent had spiked to $139 on Monday — about $8 short of an all-time record — in expectation of the...US President Joe Biden on Tuesday announced a ban on US imports of Russian oil and gas
Meanwhile, Britain said it would phase out crude imports from the country by the end of 2022
F&B sector in GCC eyes greater sustainability
Tetra Pak Arabia Managing Director Niels Hougaard explains what lies ahead for F&B companies — bith regionally and globally —...Pollution and plastic litter in the ocean are the joint top environmental worry, while global warming is a close second
GCC countries have launched several initiatives to educate consumers about recycling and sustainable consumption
Protests rock Iraq’s southern area as food prices surge
Protests erupted Wednesday in Iraq's impoverished south over a rise in food prices that officials attributed to the conflict in...The price of cooking oils and flour have skyrocketed in local markets as government officials have sought to address growing anger.
More than 500 protesters gathered in a central square in the southern city of Nasiriyah opposing the unchecked rise in food prices.
Tunisia to initiate harsh action against food speculators
Tunisian President Kais Saied declared war Wednesday on food speculators amid a shortage of products such as wheat and semolina...Russia's invasion of Ukraine has threatened supplies of basic foodstuffs, particularly wheat
Tunisia has seen a sharp shortage in staples such as rice, semolina, sugar and flour over the past weeks
