Trump eyes ‘fair deal’ with China, but path to ending tariff war remains unclear
Trade tensions between the world's two biggest economies have soared as Trump ramped up levies on imports from China this...Economy
Trump’s tariffs fallout: Why trade tensions are a ‘storm cloud’ over financial markets
Stocks later rallied after Trump announced a 90-day pause on additional higher tariffs that were set to impact around 80...Economy Opinion
Riyadh Season draws 9 million visitors to its entertainment zones
Riyadh, Saudi Arabia - The number of visitors to Riyadh Season has surged to over 9 million, indicating a significant...Riyadh Season, marked by the slogan "Big Time," completed the spectrum of entertainment choices with top-tier events and festivals across various zones
Boulevard City zone emerged as a site filled with entertainment options, along with Boulevard World which features a variety of international cultures
‘Investment policies must align with net-zero goals’
An alliance of public and private sectors is crucial for advancing the green agenda and effectively managing supply chain emissions,...An alliance of public and private sectors is crucial for advancing the green agenda and effectively managing supply chain emissions, WEF's Kimberley Botwright tells TRENDS.
Technological advancements, particularly AI, are key accelerators in sustainable trade, while an estimated $125 trillion is required for the net-zero transition by 2030, she adds.
‘Tech solutions help make food practices sustainable’
UAE's launch of Food Innovation Hub emphasizes the government's eagerness to innovate and collaborate for sustainable food systems, WEF's Tania...UAE's proactive role in launching Food Innovation Hub emphasizes the government's eagerness to innovate and collaborate for sustainable food systems, says WEF's Tania Strauss.
The success of UAE's Food Innovation Hub hinges on public-private sector collaboration, with ongoing work to define roles and ecosystems, adds the head of food and water at WEF.
UAE witnesses 7% rise in youth green skills in 2023
“We will work to create about 135,000 jobs in the field of green transition worldwide, and therefore ensuring that there...The World Bank's Green Initiative dedicates 45% of its annual financing to climate-related projects, with a strong emphasis on developing green skills.
The apex global bank has a focused plan to create 135,000 jobs globally in the green transition sector, says Safaa El Tayeb El-Kogali of the World Bank.
Protecting nature may avert $2.7trn global economic losses: World Bank
Dubai, UAE-- Protecting nature could avert global economic losses by 2030 of US$2.7 trillion per year, or 2.3 percent annually,...Hickey said low-income countries may lose nearly 10 percent of their GDP annually by 2030 if select ecosystem services, such as forests, fisheries collapse
She said that the loss of nature is at the core of central development challenges, mainly health, inequality, climate change, food security and energy
COP28 last chance to keep 1.5C target alive: John Kerry
US climate envoy issued the warning after COP28 president Sultan Al Jaber proposed a draft deal that did not include...He said that nobody at COP28 wants to be part of the failure to live up to this responsibility
The 2015 Paris Agreement set the increasingly elusive target of limiting warming to 1.5 degrees Celsius
PIF sets up agri and ecotourism firm Dan Company
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced on Monday the establishment of Dan Company, specializing in agritourism...The company plans to develop unique tourism projects around cities across Saudi Arabia with attractive natural and farmed landscapes.
Dan aims to involve local communities in imparting experience that enables visitors to fully interact with Saudi regional culture and traditions.
Russia, Saudi say sovereign Palestine state vital for regional peace
RIYADH, SAUDI ARABIA – Russia and Saudi Arabia expressed concern on the present situation in Gaza and said that a...The two sides discussed the developments in Palestine and expressed their deep concern about the humanitarian catastrophe in Gaza.
Russia and Saudi Arabia stressed on the need to stop military operations in the Palestinian territories, and the need to protect civilians.
Oman’s revenues drop by 17 percent in nine months of 2023
Muscat, Oman -- Oman's revenues for the nine-month period of 2023 declined 17 percent to 9.8 billion riyals ($25.45 billion),...During the nine-month period, the budget recorded a financial surplus of about RO 830 million, compared to a surplus of RO 208 million in the same period of 2022.
Net gas revenues until the end of last October decreased by 43 per cent to reach RO 734 million compared to RO 3 billion and 51 million.
Global health crisis looms amid climate change: WEF
Global coalition and trillions of dollars are required to prevent escalating human deaths due to climate change, Dr. Shyam Bishen...Global coalition and trillions of dollars are required to prevent escalating human deaths due to climate change, Dr. Shyam Bishen of the World Economic Forum tells TRENDS.
He emphasizes a strong link between climate change and human health, underscoring the critical role of private sector engagement in combating related health issues.
