45 percent of Saudi employees work over 40 hours per week
Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...Business Economy
UAE insurance sector assets rise US$3.1bn in 9M 2023
ABU DHABI, UAE - The UAE insurance sector continues to exhibit robust growth, as evidenced by a 9.6 percent increase...Business Banking & Finance Economy
Pandemic causing education losses globally: UNICEF
School closures due to the Covid-19 pandemic have caused "nearly insurmountable" losses in education among children around the world, UNICEF...More than 616 million students are still being affected by full or partial school closures, the UN children's agency said
UNICEF reported that learning losses to school closures have left up to 70 percent of 10-year-olds unable to read or understand a simple text
UAE leads GCC in ICT investments, spending
The Gulf region stays strong both regionally and globally in terms of the number of internet users and the populations...The United Arab Emirates came out on top with 5.43 points in the GCC ICT Use Index for 2021, followed by Kuwait and Saudi Arabia.
Saudi Arabia's ICT spending is set to reach $30.9 bn, and public sector spending will reach approximately $3 bn by the end of 2022.
Saudi finance minister calls for GCC cooperation
Saudi Arabia's finance minister, Mohammed bin Abdullah Al-Jadaan, has stressed the need for the promotion of the joint Gulf action,...During the meeting, the ministers reviewed the progress made on issues related to strengthening the financial and economic cooperation among the GCC states
The meeting was chaired by the Minister of Finance, Chairman of the current session, Mohammed bin Abdullah Al-Jadaan
Iran’s trade transactions with neighbors tripled over past months: Official
With rise in trade transactions, the Iranian economic activity also grew notablyNational Security and Foreign Policy Commission members stress that optimum economic management was important for a better future.
Spokesman of the Commisison Abbaszadeh-Meshkini said that the economic policies should be arranged in a way to make sure that the low-income people will not be harmed.
Dubai’s energy demand up by 10 percent in 2021, T&D losses down
DEWA achieved a new world record in electricity Customer Minutes Lost (CML) per year, recording 1.66 minutes in DubaiEnergy demand in 2021 reached 50,202 gigawatt-hours compared to 45,712 gigawatt-hours in 2020.
In 2020, DEWA reduced losses in electricity transmission and distribution networks to 3.3 percent, which is less compared to that in Europe and the US.
Lebanon decision to convert deposits to local currency faces ire
The current midmarket rate for a US dollar is LBP1,500, while the black-market rate is more than LBP23,000 to the...Depositors in Lebanon demonstrated against the government's plan to convert deposits into Lebanese pounds
The demonstration was also against an associated decision to compensate depositors in the local currency
Dubai most popular holiday destination for 2022
The city overtakes London in the list of the "Top Destinations Around the World". Golden beaches, world-class restaurants, rave reviews...Dubai figured at the fourth place in the "trending destinations for food lovers" list and first in "Trip Advisors list for city lovers."
More than 3.85 million tourists came to Dubai during the first nine months of 2021, according to the department of tourism and commerce marketing.
Dubai records $1.11 billion worth of weeklong real estate deals
A total of 1,99The real estate and properties transactions valued at AED4.1 billion were recorded in Dubai during the week...The transactions included 287 plots that were sold for AED1.08 billion, while 1,059 apartments and villas were purchased for AED2.25 billion.
The top three transactions were a plot of land in Al Hebiah Fifth that sold for AED190 million, followed by land that was sold for AED 45 million in Al Thanyah First.
DEWA inaugurated 16 new power substations costing $797m in 2021
Dubai Electricity and Water Authority (DEWA) has inaugurated 16 new substations in 2021 at the cost of about AED2.928 billion...DEWA installed 222 kilometers of 400kV overhead transmission lines and 97 kilometers of 132 kV ground cables to connect the substations to the main transmission network.
DEWA’s investments in existing and completed electricity transmission projects in 2021 reached AED9.5 billion.
Israeli firm develops body cams with facial recognition
Tirza, a former Israeli army colonel, says his company Yozmot Ltd aims to produce a body-worn camera enabling police to...Tirza, a former Israeli army colonel, says his company Yozmot Ltd aims to produce a body-worn camera enabling police to scan crowds and detect suspects in real time
Facial recognition in law enforcement has sparked global criticism, with US tech giants backing away from providing the technology to police, citing privacy risks
