Asian markets retreat as China pledges fail to spark excitement
Asian markets fell Friday as China's latest vows to boost the beleaguered economy failed to stir much excitement, while traders...Economy
Seoul stocks sink amid S. Korea drama as Asian markets struggle
South Korean stocks sank more than two percent Wednesday while the won rebounded from earlier losses after President Yoon Suk...Economy
UAE central bank raises 2024 economic growth forecast to 5.7%
The bank stated in a report released today that the overall GDP for the country is expected to grow by...The bank said that the UAE economy recorded a 3.8 percent year-on-year (YoY) growth in the second quarter of the current year, compared to 8 percent recorded in Q2 2022.
It mentioned that the non-oil GDP growth accelerated to 7.3 percent YoY in the second quarter of the current year, up from 4.5 percent YoY in the previous quarter.
EU agrees on 150-million financial aid for Tunisia
A joint statement said the funds amounting to around $164.3 million "aims to support the efforts undertaken by the Tunisian...The aid is part of a partnership agreement reached between the two countries in Tunis on July 16, which included a 105 million euros to curb irregular migration
The joint press by EU commission and the Tunisian foreign ministry release said the 150-million aid will consist of a "direct financial transfer to the Tunisian public treasury
UNCTAD eWeek focuses on AI risks, e-commerce growth in developing countries
At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and...At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and ensure a secure digital future.
Australia committed $2 million to UNCTAD for e-commerce support in developing nations, as Kenya unveiled a national strategy to spur its digital economy growth.
Qatar expects 11.4% revenue dip in 2024 budget on lower oil prices
Finance Minister Ali bin Ahmed Al Kuwari attributed the decrease in revenues to the adoption of an average oil price...Expenditures are expected to increase by 1 percent from 2023 to reach QR 200.9 billion, due to a rise in the allocations for salaries and wages.
Allocations for both current expenditures and secondary capital expenditures also increased by 6.4 percent and 27.5 percent respectively, compared to 2023.
Waning influence of OPEC+ in spotlight as prices flag
Founded in 1960, the 13-member OPEC cartel in 2016 partnered up with 10 other producers to form OPEC+ to gain...Prices are sitting at their lowest level in nearly six months despite the cartel's announcement in November to further cut output
While Riyadh blamed speculators for the drop, rather than weak demand, analysts say the cartel's lack of unity has fuelled scepticism about their latest announced cuts.
Saudi Arabia introduces unified platform for visas, including Hajj, Umrah
Riyadh, Saudi Arabia - Saudi Arabia on Tuesday introduced 'KSA VISA,' a unified visa platform aimed at streamlining visa application...The platform aims to automate visa issuance procedures, thereby enhancing the overall visitor experience
The initiative is a step in the kingdom's strategy to bolster tourism in the forthcoming years
US pushes naval coalition as Yemen rebels vow to attack more ships
The United States pushed to build up a multinational naval task force to protect a key global shipping lane from...US Defense Secretary Lloyd Austin condemned the "unprecedented" spate of attacks in waters leading to the Suez Canal.
The Canal is a chokepoint for about 10 percent of global trade, that have forced many shipping companies to divert their vessels.
15% increase in air traffic at UAE airports during COP28, says GCAA
ABU DHABI, UAE – Airports in the country witnessed a 15 percent increase in air traffic during the 28th Conference...The first day of COP28 - November 30 2023 - witnessed the highest daily air traffic rate in the history of civil aviation in the UAE with 2,848 flights.
The General Civil Aviation Authority organized meets and daily communication sessions to discuss plans, improve air navigation management systems.
Saudi Arabia eyes $13 billion from media sector
Riyadh, Saudi Arabia - Saudi Arabia aims to increase the media sector's economic contribution, targeting a GDP share of 47...In 2022, Saudi Arabia's media sector surged to SAR 17.4 billion ($4.6 billion), commanding 30% of the market share in the MENA region.
The growth trajectory has been primarily propelled by a a tech-savvy consumer base, marked by a surge in demand for local content
New platform to revolutionize global sustainability
World Wide Generation's and e& join hands to combine innovative technology and global collaboration to address critical environmental, social, and...World Wide Generation's and e& join hands to combine innovative technology and global collaboration to address critical environmental, social, and economic challenges.
The G17Eco platform, powered by WWG, equips organizations to effectively access and utilize sustainability data, integrating solutions and finances for comprehensive reporting.
