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...Economy Tech & Media
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...Business Economy Aviation
High freight costs push world food import bill to record high
The global food trade should hit a record high in both volume and value, according to a new report by...The bill is 14 percent higher than last year and 12 percent higher than the previous forecast.
The increase is also driven by higher price levels of internationally traded food commodities.
Asian markets rise on outlook hope but eyes on inflation
A respite in the crisis surrounding troubled Chinese developer Evergrande also provided some much-needed support to the region.A respite in the crisis surrounding troubled Chinese developer Evergrande also provided some much-needed support to the region
Analysts said dealers remained hopeful that the inflation spurt would not be long-lasting and flatten out as supply chains normalise
Zero-carbon not the end of oil and gas
Some people conflate the target of zero carbon emissions with the notion that the era of oil, gas, coal, and...Carbon emission targets are sometimes misunderstood with the end of oil, gas, and coal
Oil and gas are still the primary drivers of the global economy, and will continue to be so for decades
Trillions needed to fight climate threat: UN draft report
The draft Intergovernmental Panel for Climate Change report is scheduled for release early next year.Helping vulnerable nations cope with the multiplier effect of climate change will require trillions of dollars, according to a draft UN report
The failure of rich countries to deliver the promised $100 billion a year for vulnerable nations has become a flashpoint at COP26
Saudi Arabia sells dual-tranche bonds for $3.25 billion
Saudi Arabia has sold two bonds--a sukuk tranche and a conventional bond--for $3.25, the kingdom's National Debt Management Center (NDMC)...The value of the first tranche is at $2 billion for a nine-and-a-half-year sukuk maturing in 2031.
The second tranche of $1.25 billion is for a 30-year bond maturing in 2051.
UAE, Bahrain to establish joint investment fund in both countries
“The governments of the UAE and Bahrain, in light of the fraternal ties and long-term mutual interests between the two...According to the Bahrain News Agency, Mumtalakat and Mubadala Investment Co will launch the new fund together
Bahraini Crown Prince Salman bin Hamad Al Khalifa announced the deal during a visit to the UAE
Apple loses bid to stall apps bypassing pay system in Epic Games case
A judge rejected Apple's request to delay letting App Store offerings bypass its payment system as ordered by the court...Epic filed the lawsuit to break Apple's grip on the App Store, accusing the iPhone maker of operating a monopoly in its shop for digital goods or services.
The judge reasoned that Apple's policies not allowing app developers to steer users to payment platforms outside the App Store as being a factor in the "antitrust conduct."
Elon Musk loses $50 billion as Tesla shares fall for third day
Elon Musk, the CEO of Tesla lost $50 billion in two days as shares of Tesla fell for the third...According to Bloomberg Billionaires Index, this is the biggest two-day fall in its history.
his drop in net worth of Elon Musk reduces the gap between him and Jeff Bezos, the second richest man of the world to $83 billion.
EDB, NBF agree to provide credit guarantee and co-lending for SMEs in UAE
The Emirates Development Bank (EDB) has signed an MoU with the National Bank of Fujairah (NBF) to offer credit guarantees...NBF will offer up to AED10 million financing to an SME, and 50 percent of the facility amount will be either guaranteed or co-lent by EDB.
The program also aims to support UAE citizens in the startup journey by offering financing facilities of up to AED1 million.
World economy watches as China activity slows down
The economy of China is weighed down by electricity shortages and a vast real-estate crisis.The difficulties of the real-estate sector in China were triggered by the troubles of giant Evergrande
Those problems could pose risks for the world economy and affect the United States, the US Federal reserve has said
