Dubai, UAE - The International Monetary Fund (IMF) in a report has indicated that the global economy is on course for a soft landing, despite ongoing weaknesses in activity and growth prospects. "The cyclical position of G20 countries has proven stronger than previously anticipated as disinflation has so far proceeded...

There was "virtual unanimity for the two-state solution as the only possible solution," Brazilian Foreign Minister Mauro Vieira told journalists at the close of a two-day meeting of foreign ministers from the world's biggest economies. "The only reason (Vieira) didn't simply say 'unanimity' is that not every speaker addressed the...

Rio de Janeiro, Brazil - Saudi Foreign Minister Prince Faisal bin Farhan called on G20 nations to apply pressure for concrete measures to halt the conflict in Gaza and advocate for a credible, irreversible path toward a two-state solution. Prince Faisal voiced these sentiments during the inaugural session of the...

Paris, France -- While the explosion of debt is throwing a shadow over global economic growth, experts warn that sub-Saharan Africa, where several countries are already in default, is experiencing its worst-ever crisis. The rise in interest rates and over-indebtedness is already crimping the ability of countries to finance their development,...

Paris, France - Tax havens are blamed for lower public revenues elsewhere as they lure away multinational firms but a study published on Tuesday showed that tax breaks in high-rate countries are also heavily exploited. Half the profits booked by multinationals benefiting from low tax rates were from countries that have...

Muscat, Oman-- Secretary General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudawi, has underscored the importance of cooperation in investigations into cross-border corruption cases and prosecution of their perpetrators, given the significant impact corruption has on economic development and growth. He made the remarks at the 9th meeting of...

"Climate change is pushing millions of people into famine. It is destroying hopes, opportunities, homes and lives. In recent months, urgent warnings have become lethal realities again and again all around the world," Turk said. "We do not need more warnings. The dystopian future is already here. We need urgent...

"Today, the Kingdom takes pride in its advanced technological sector, which has solidified its regional and global position as a leading tech hub. With national digital capabilities boasting global qualifications and enabling digital infrastructure, these collective advancements get reflected in international indices and reports," he adds.

This TRENDS infographic dives into Saudi Arabia’s ambitious transformation to discover how the Kingdom is reshaping its future with high investments in the real estate sector and infrastructure projects.

G20 leaders have been deeply riven over the Ukraine war since Moscow's invasion last year, with Russian President Vladimir Putin skipping the summit entirely to dodge political opprobrium. Leaders of the Group of 20, which brings together Russia and China as well as some of Ukraine's most ardent backers, have...

New Delhi, India-- Appealing to G20 members to lead by example in delivering on the promise of US$100 billion per year for climate finance, International Monetary Fund (IMF) Managing Director Kristalina Georgieva has underscored the need for cohesive effort to prevent grave risks to economic well-being and macro-financial stability from...

The African Union joined the G20, boosting Africa's voice, while a new initiative aims to connect Europe, the Middle East, and India through infrastructure.

NEW DELHI, INDIA- Indian prime minister and G20 host Narendra Modi said on Saturday the body had reached consensus on its leaders' declaration and announced its adoption. "Because of our team's hard work, and with your support, there is a consensus on the New Delhi G20 Leaders' Summit declaration," he...

NEW DELHI, INDIA - UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met to discuss the Comprehensive Strategic Partnership and Comprehensive Economic Partnership between the two countries. The two leaders also discussed sustainable development and strengthening ties between the countries and their people. The...

Major G20 partners are set to unveil ambitious plans on Saturday to enhance trade among India, the Middle East, and Europe. This modern-day Spice Route aims to integrate regions that represent about a third of the global economy. Washington, Saudi Arabia, the EU, the UAE, and other nations plan to...

New Delhi, India - The African Union joined the Group of 20 leading economies at its summit on Saturday, enhancing the continent's voice on the global stage. Host Indian Prime Minister Narendra Modi remarked that this inclusion transformed the often-divided bloc into the "people's G20." "With everyone's approval, I request...

Paris, France - A world facing catastrophic climate change is perilously off course in meeting goals for slashing carbon pollution and boosting finance for the developing world, according to the UN's first official progress report out Friday. The 2015 Paris treaty has successfully driven climate action, but "much more is needed...

"I look forward to welcoming the AU as a permanent member of the G20", European Council president Charles Michel told reporters in New Delhi, where the two-day G20 summit begins on Saturday. In December, US President Joe Biden said he wanted the AU "to join the G20 as a permanent...

The G20 was conceived in the throes of the 2008 financial crisis as a way of managing the global economy. But finding consensus among members has been increasingly difficult in recent years. With several leaders already in New Delhi -- spruced up and partly emptied of people for the occasion...

inance Minister Mehmet Simsek told reporters he would then travel to New York and European economic powerhouses Germany and Britain to meet with dozens of top chief executives. "There will not be an investor that we are not in dialogue with," Simsek said.

Riyadh, Saudi Arabia-- Saudi Arabia's economy is in a state of prosperity and growth, and that the kingdom's fiscal position is strong, primarily driven by Vision 2030 which has been steadily diversifying the economy since its launch in 2016, according to the International Monetary Fund.   The IMF said in a statement...

The G20, which accounts for about 85 percent of the world's economy and greenhouse gas emissions, will meet in New Delhi in the absence of China and Russia's leaders, as the invasion of Ukraine, trade and the future of fossil fuels stir tensions.

Beijing, China - President Xi Jinping's unexplained decision to snub the G20 summit underlines Beijing's frayed ties with other major powers as well as growing secrecy at the top of the ruling Communist Party, China analysts told AFP. Beijing's foreign ministry said Monday that Premier Li Qiang would join the leaders...

According to the research published by Ember, an energy thinktank that pushes for renewable power, per capita G20 coal emissions rose nine percent. In July, the group failed in talks to agree that global emissions should peak by 2025 or to massively ramp up renewable energy use.

The BRICS summit, which held in Johannesburg from Aug 22-24 agreed to admit Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates as new members from Jan 1, 2024.

NEW DELHI, INDIA - Breakneck development of artificial intelligence risked repeating mistakes made by the tech industry at the start of the social media era, Microsoft president Brad Smith told a business forum on Friday. Rapid advancements in AI have stoked global alarm over the technology's potential for disinformation, misuse and...

GANDHINAGAR, INDIA - Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini and Assistant Minister of Foreign Affairs for Health Dr. Maha Barakat led the UAE’s delegation in the G20 Joint Health-Finance Ministers Meeting (JHFMM). The meeting discussed the progress made by the Joint Finance and Health Task...

"WHO is working to build the evidence and data to inform policies, standards and regulations for the safe, cost-effective and equitable use of traditional medicine", WHO chief Tedros Adhanom Ghebreyesus said as he opened the summit.

Dr Faqeeha commends the G20's support for the global platform CORDAP (Collaborative Action on Coral Reefs and People), which was launched during the Kingdom's G20 presidency. CORDAP aims to accelerate research and development for coral reefs globally and strengthen preservation and restoration efforts.

DUBAI, UAE – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri highlighted the importance of collective action and collective finance to strengthen sustainable development. She also called upon G20 countries to fulfill their commitment to providing the pledged financial support for global climate initiatives. Almheiri addressed...

Speaking at G20 Climate Sustainability Ministerial Meeting in India, Dr. Sultan Al Jaber said G20 makes up some 85 percent of the world's GDP and contributes 80 percent to emissions. He appealed to the audience to work with "your leaders to drive global climate action in this critical decade."

Most delegations were led by their environment and climate change ministers, while the US delegation was headed by Special Presidential Envoy for Climate John Kerry. Emirati oil boss Sultan Al Jaber was also at the Chennai meeting, ahead of leading the upcoming COP28 talks.

“As we continue to witness an ever-changing pace of development and technological advancement, regulating employment and improving human resources’ skills have become increasingly imperative to our policies. In the UAE, we have ensured gig and platform workers are granted a similar level of coverage as their co-workers in traditional sectors,"...

NEW DELHI, INDIA - Energy ministers from the group of 20 nations meeting in India on Saturday failed to agree on a roadmap to phase down the use of fossil fuels in the global energy mix. A final statement after the meeting did not even mention coal, a major contributor...

NEW DELHI, INDIA – The UAE is committed to playing an active role in global efforts to shape a better future for societies and people through creating jobs, Dr. Abdulrahman Al Awar, Minister of Human Resources and Emiratization said. He said the UAE is also committed to enhancing human resources’...

The G20 talks come after Russia on Monday refused to extend a deal allowing critical Ukrainian grain exports through the Black Sea, sparking outrage from the United Nations, which has warned millions of the world's poorest would "pay the price". World Bank president Ajay Banga said he feared a lack...

Indian Finance Minister Nirmala Sitharaman, chair and host of the summit in Gandhinagar, began by telling finance leaders of "the responsibility we have... to steer the global economy towards strong, sustainable, balanced and inclusive growth". Talks will also focus on "critical global issues such as strengthening the multilateral development banks...

Mumbai, India--The UAE’s Minister of State for Public Education and Advanced Technology Sarah Al Amiri has urged the global community to collaborate more closely in the field of research and innovation in order to find solutions to international challenges. Addressing ministers at the G20 Research and Innovation Initiative Gathering (RIIG)...

The Shanghai Cooperation Organization -- which on Tuesday welcomed Iran as its ninth member -- encompasses a vast stretch of the globe from Moscow to Beijing and includes around half the world's population when observer and "dialogue partner" nations are included. Created in 2001 to discuss security and economic matters,...

Indian Prime Minister Narendra Modi met Egypt's President Abdel Fattah al-Sisi in Cairo on a rare visit during which both sides pledged to deepen their strategic partnership. They agreed to boost investment by India, the world's most populous nation, in Egypt and which is now in the grips of an...

MIYAZAKI, JAPAN  -  With hunger levels rising and food prices soaring in most of the world, collective actions are necessary for immediate and long-term global food security objectives, Food and Agriculture Organization (FAO) said on Sunday. Director-General of FAO Qu Dongyu made the remarks at the G7 Ministers of Agriculture...

The members also exchanged views on progressing the implementation of Multilateral Convention to Implement Tax Treaty Related Measures to Prevent base erosion and profit shifting (BEPS) to advance the international taxation agenda.

Dubai, UAE -- Saudi Arabia's unemployment rate dropped in the fourth quarter of 2022, compared to the previous quarter, mainly due to government activities and private sector hiring, the kingdom's General Authority for Statistics said Thursday. Saudi Press Agency reported that despite the global economic challenges, including those prevailing in...

CHENNAI, INDIA - The UAE spoke on food and energy insecurity and their implications in the second Framework Working Group (FWG) meeting within the G20 Finance Track for 2023 held here on March 24 – 25. The meeting was held to discuss the progress made on the 2023 FWG work...

New Delhi, India--India has stepped up multi-faceted consultations with GCC states ahead of the Group of Twenty (G20) Summit to be held in New Delhi in September under its presidency. A 12th round of India-Oman Strategic Consultative Group meeting in Muscat “reviewed bilateral ties in different domains and identified new...

The growth rate is also the highest in the last decade, with crude oil and natural gas contributing 32.7%, government services 14.2%, and manufacturing other than oil refining 8.6%.

ABU DHABI, UAE  - UAE Ministry of Culture and Youth (MCY) participated in the First G20 Culture Working Group (CWG) meeting held under the Indian Presidency. Attended by G20 members, invited countries, and international organizations such as United Nations Educational, Scientific and Cultural Organization (UNESCO), the meeting recently took place...

ABU DHABI, UAE -  Minister of State for Financial Affairs Mohamed Hadi Al Hussaini headed the UAE delegation participating in the first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in 2023. Held for the first time under the Indian presidency in Bengaluru, the meeting discussed the progress under...

The United Arab Emirates, France and India have issued a joint statement announcing the establishment of a trilateral cooperation initiative and the roadmap to begin its implementation. In the statement the three countries said the initiative will promote the design and execution of cooperation projects in various fields, including energy...

ABU DHABI, UAE - The UAE recently participated in the first Sustainable Finance Working Group (SFWG) meeting within the G20 Finance Track for 2023, which was held for the first time under the Indian Presidency. The meeting, which was held at Guwahati, Assam, India, sought to discuss the 2023 SFWG...