ABU DHABI, UAE - ADNOC Distribution on Friday announced plans to reduce its carbon intensity by 25 percent by 2030. This will be implemented by putting sustainability at the core of its day-to-day operations to future-proof its business and deliver sustainable long-term shareholder value. Central to ADNOC Distribution's enhanced sustainability...

Taking place under the theme "Investing in Sustainable Development", the forum will bring together government leaders, global CEOs and other investment stakeholders.

Inflation rates and trends have started to improve in Turkey, supported by the comprehensive policies the country is pursuing, the bank pointed out in a statement.

More than 50% of the countries with voting rights have pledged public support for the Saudi city’s bid, Fahd Al-Rasheed, the CEO of the Royal Commission of Riyadh City, tells TRENDS.

The rhetoric has shifted from talk of a recession in the 20-nation club to "a small contraction", she said, with some major economies like Germany possibly dodging a contraction altogether.

DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer received a high-level delegation from the EDF Group (Électricité de France) headed by Luc Remont, CEO and Chairman of the Board of Directors. Al Tayer also received a delegation from Cuba headed by...

ABU DHABI,  UAE  - Masdar City and the Abu Dhabi Global Market (ADGM) Thursday signed a Memorandum of Understanding (MoU) to strengthen foreign investment in Abu Dhabi and support innovation that enhances the UAE’s economic competitiveness. The agreement was signed by Ahmed Baghoum, the acting CEO of Masdar City, and...

Princess Reema bint Bandar, Saudi Arabia’s Ambassador to the United States of America, underlined the importance of the Saudi-US relationship.

Dubai, UAE--The World Economic Forum (WEF) has selected the UAE's Gender Balance Council (GBC) as a knowledge partner to advance gender balance globally. The recognition reflects the UAE Gender Balance Council’s significant achievements, guided by the UAE leadership’s vision to create an environment that empowers and enables women to succeed...

The agreements were unveiled during a high-level meeting between Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs, and Prof. Klaus Schwab, WEF Founder.

The tech giant will lay off some 10,000 employees in the coming months as the economic downturn continues to punish US tech giants. The job cuts is expected to affect close to five percent of employees and follow in the wake of similar moves by Facebook-owner Meta, Amazon and Twitter.

Analysts believe that Erdogan's office is looking for a perfect moment at which his own voters are more likely to turn out than those backing his opponents. On Wednesday Erdogan delivered a speech to his ruling party in which he recalled the day contemporary Turkey held its first free election...

Davos-Klosters, Switzerland-- African heads of state and global CEOs at the World Economic Forum Annual Meeting backed the launch of the first of its kind report on how public-private partnerships can support the implementation of the African Continental Free Trade Area (AfCFTA). AfCFTA: A New Era for Global Business and...

Despite its goal of achieving net zero carbon emissions by 2060, the country remains hugely dependent on crude oil exports that have powered its growth for decades, raising doubts about its potential for an economic makeover any time soon. Riyadh has dispatched eight top-ranking officials to the gathering of business...

Weak earnings from banking titan Goldman Sachs, a jobs warning by Microsoft, and a plunge in manufacturing data highlighted the bumpy road ahead for the United States, the world's top economy, despite optimism over inflation and the improving interest rate outlook.

The computer industry stalwart has some 220,000 workers.

Paris, France--New vehicle registrations in Europe dropped to their lowest level since 1993 last year as component shortages continued to hinder automakers, an industry group reported Wednesday. Despite an uptick in sales since August, the overall number of EU registrations fell 4.6 percent to 9.3 million, a level last seen three...

Davos-Klosters, Switzerland-- India's Minister for New and Renewable Energy Raj Kumar Singh has told developed countries to '"walk the talk" on transforming food systems by helping smallholder farmers in developing countries with cheaper access to irrigation, fertilizers and markets. The minister was speaking at a session on “Interplay of Food,...

Investigators from France, Germany and Luxembourg began hearing witnesses Monday as part of the case of suspected financial misconduct including possible money laundering and embezzlement.

ABU DHABI, UAE - Statistics Center – Abu Dhabi (SCAD) and the Abu Dhabi Department of Energy (DoE) have signed a service-level agreement that allows collaboration between the two parties in the field of statistical integration. This is a part of a strategy to develop an advanced statistical ecosystem which...

DUBAI, UAE - UAE Ministry of Finance (MoF) Tuesday signed a Memorandum of Understanding (MoU) with the Dubai Free Zones Council (DFZC) on the exchange of information for tax purposes. This comes in line with the ministry’s continuous efforts to ensure that  commitment of various government entities in the UAE...

The World Economic Forum launched the Giving to Amplify Earth Action (GAEA), to help unlock the US$3 trillion of financing needed each year to reach net zero, reverse nature loss and restore biodiversity by 2050. The GAEA is a global initiative to fund and grow new and existing public, private...

Steve Hanke, an economist at Johns Hopkins University who measures inflation based on purchasing power parity and factoring in black market exchange rates, estimated Egypt's real inflation rate at 101 percent. The economy, dominated by state and military-owned enterprises, had already struggled after successive blows, from years of political unrest...

The return on the share amounted to QR 1.62.

The world's second-largest economy faced historic headwinds as 2022 drew to a close, with exports plunging last month due to a drop in global demand and rigid health restrictions that hammered economic activity.

Sharjah, UAE-- Ruler of Sharjah Dr. Sheikh Sultan bin Muhammad Al Qasimi has affirmed that work is underway to complete "valuable" projects in the central region, which will provide many jobs for citizens. Dr. Sheikh Sultan announced the employment of 50 engineers from the region to work on Sharjah Electricity,...

Large infrastructure projects -- mainly supported by the Public Investment Fund and National Development Fund -- are expected to boost the Kingdom's economy further.

Almost two-thirds of chief economists believe a global recession is likely in 2023, with 18 percent of them considering it extremely likely – more than twice as many as in the previous survey conducted in September 2022. A third of respondents consider a global recession to be unlikely this year.

DUBAI, UAE - The Chairman of the Dubai Financial Services Authority (DFSA), Fadel Al Ali Monday announced the publication of the DFSA’s Business Plan for 2023-24. The Business Plan has been developed to foster an enabling environment for firms as Dubai and the UAE continue to grow its reputation as...

DAVOS, SWITZERLAND – A  report launched Monday at the World Economic Forum Annual Meeting 2023 shows how countries can accelerate the food systems transformation. The report Food Nature and Health Transitions - Repeatable Country Models reveals how actions and investments can accelerate a country’s transition towards food systems that deliver...

Doha, Qatar-- Qatar's Consumer Price Index (CPI) rose by 5.93 percent in December 2022 to reach 108.20 points, driven primarily by an increase in prices in the recreation and culture sectors. On monthly basis, the CPI increased by 1.24 percent when compared to CPI of November 2022. The CPI annual...

"The exceptional performance of the real estate sector reflects support the goal of the Dubai Economic Agenda D33 launched to double the size of Dubai's economy by 2033. The sector is a key pillar of Dubai's strategy for sustainable development," said Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al...

European investigators began questioning high-profile witnesses in Lebanon as part of a probe into central bank governor Riad Salameh's wealth, a judicial official said. The long-serving central bank chief is among top officials widely blamed for Lebanon's unprecedented economic crisis, dubbed one of the worst globally in recent modern history...

The ILO said deficits in decent work had been worsened by multiple, overlapping crises, including Russia's war in Ukraine, emerging geopolitical tensions, an uneven recovery from the Covid-19 pandemic and continuing supply chain bottlenecks.

Doha, Qatar-- As a windfall of the FIFA World Cup, banks in Qatar are expected to build profits and shore up their capital base and liquidity position in 2023, according to media report citing analysts. Qatari lenders had immense tournament-linked lending opportunities that began years ago, and it will help...

Petra, Jordan--King Abdullah on Sunday highlighted the importance of further developing the city of Petra, and diversifying its tourism product. During a visit to Petra, King Abdullah said developing tourism services in the "golden triangle" of Petra, Wadi Rum, and Aqaba, will have a positive impact on Petra and Jordan...

The formation of the bilateral body to govern the Partnership for Accelerating Clean Energy (PACE) will be composed of private sector and government representatives from both countries. Its goal is to catalyze $100 billion in financing, investment and other support and deploy 100 gigawatts of clean energy by 2035.

DAVOS-KLOSTERS, SWITZERLAND  – As part of the World Economic Forum Annual Meeting 2023, this year’s Open Forum Davos from January 16-20 will focus on the environment and climate change. The theme at the Open Forum is Our Environment: Lessons, Challenges and Opportunities. This would be the Open Forum’s 20th year...

BAGHDAD, IRAQ  - Iraqi Parliamentary Speaker Mohammed al-Halbousi said that an oil pipeline from Basra port to the Jordanian port of Aqaba will soon be operational pointing to many areas of cooperation between the two countries. Al-Halbousi, who spoke at a joint press conference at Baghdad airport with Jordan's Lower...

UAE Minister of Energy Suhail bin Mohammed Al Mazrouei highlighted the UAE Energy Strategy 2050, the first unified energy strategy by the UAE, which aims to integrate the renewable and clean energy mix to achieve a balance between economic needs and climate goals, in addition to reducing dependency on other...

SHARJAH, UAE - Sharjah Chamber of Commerce and Industry (SCCI) in 2022 continued its role in creating investment environment and reinforcing the position of the emirate of Sharjah as a global business hub. The SCCI also bolstered its competitiveness by protecting the interests of businessmen and supporting its members in...

While the official exchange rate has been fixed at 1,470 Iraqi dinars against the dollar, the currency was trading at up to 1,600 to the greenback on local markets from mid-November, before settling at about 1,570 dinars, according to state media.

Tunis, Tunisia--The President of Arab States Broadcasting Union (ASBU) and CEO of Saudi Broadcasting Authority Mohammed bin Fahd Al-Harthi has called on media institutions in the Arab countries to develop and keep pace with changes by upgrading the local digital content industry to global standards. Speaking on the sidelines of...

The airline spokesperson said that 68 passengers were on board along with four crew members and that rescue is underway. The plane crashed between the old and new Pokhara airports in central Nepal. The wreckage was on fire and rescue workers were trying to put out the blaze, according to...

Around 1,700 people make a living from Petra as tour guides, trinket sellers or by taking visitors through the site on donkeys, horses, camels or electric buggies.

Abu Dhabi, UAE-- The UAE has stressed the need for speeding up new investments in the energy sector in order to meet rising global demand as a number of OPEC+ member countries cut output. Speaking on the sidelines of the Global Energy Forum in Abu Dhab, Suhail bin Mohammed Al...

The move aims at supporting Kingdom's infrastructure development, boosting logistics and providing unique business environment in transport sector, air traffic and ports.

ABU DHABI, UAE -  UAE Minister of Energy and Infrastructure and Romanian Minister of Energy discussed ways to enhance cooperation in the energy and climate action fields between the two countries. UAE minister Suhail bin Mohammed Al Mazrouei received Romanian Minister  Virgil-Daniel Popescu at the Energy Ministry's headquarters in Abu...

Hundreds of Tunisians, including supporters of the Islamist-inspired Ennahdha party, marched Saturday after opponents of President Kais Saied called for protests over worsening economic crisis. Ennahdha had dominated parliament until Saied grabbed power on July 25, 2021, sacking the government and freezing parliament before appointing a new cabinet and ruling...

ABU DHABI,  UAE - Masdar signed an agreement with four Dutch companies to explore the development of a green hydrogen supply chain between Abu Dhabi and Amsterdam to support Dutch and European markets. Masdar, , one of the world’s leading clean energy companies, inked an agreement with Port of Amsterdam,...