"Governments should design solutions to face these challenges rather than ignoring them, leveraging the positive effects and significant opportunities presented by adopting these solutions. It is crucial to shift the negative perception of artificial intelligence today, fostering a new view of the opportunities and challenges it presents," he adds.

DUBAI, UAE - The real estate and properties transactions valued at US$3.5 billion (AED13 billion) in total during the week ending January 19 2024.The sum of transactions was 3,697 and 184 plots were sold for US$547 million  (AED 2.01 billion), 2,770 apartments and villas were sold for US$2 billion (AED...

Dubai, UAE--The first edition of the Japan Kyoto Trade Exhibition 2024 is all set to kick off this Monday, 22nd January, at Dubai World Trade Centre.The three-day exhibition, jointly hosted by the governments of Kyoto, Japan, and the Department of Economy and Tourism in Dubai (DET), is expected to attract...

Dubai, UAE - Against the backdrop of the World Economic Forum in Davos, Whiteshield announces the release of the Global Labor Resilience Index (GLRI) 2024.As the world confronts the profound challenges of global warming and the urgency of transitioning to a sustainable future, the impact on labor markets looms large, a...

Abu Dhabi, UAE -- EDGE, one of the world’s leading advanced technology and defense groups, has announced that it will conduct a six-month trial on a major public security initiative with the São Paulo state government. The partnership was announced during a high-level delegation visit by senior government members to...

Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) has held discussions with the Arab Authority for Agricultural Investment and Development (AAAID) to support business community and foster trade and investment between the two entities.The discussions took place at the chamber's headquarters, where Abdullah Sultan Al Owais, Chairman of the...

Davos, UAE - The UAE has announced plans to develop the first-ever sustainability accreditation framework explicitly for micro, small and medium-sized enterprises (MSMEs). EcoMark Global Accreditation has been designed to boost the competitiveness of MSMEs in the global green economy by streamlining and standardizing the regulatory processes surrounding sustainability benchmarking...

Dubai, UAE - Gold prices extended losses on Wednesday as the US dollar strengthened after comments from a Federal Reserve official dampened expectations for a March interest rate cut, Reuters reported.Spot gold was down 0.2% at $2,023.49 per ounce, as of 0415 GMT, after stooping 1.3% in the previous session...

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to $182.43 billion at the end of November 2023, marking a significant surge in its financial strength. This impressive growth is revealed in the bank's latest balance sheet report.The report highlights a robust 30.4%...

DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s.The airline is inviting fresh graduates with internships or part-time jobs on their résumés, those with a year or so of hospitality or customer service experience, and individuals keen to embark on an...

The 2023 annual net profit rose 14 percent from 2022.

Dubai, UAE--The Dubai Electricity and Water Authority (DEWA) has laid over 364 kilometres of fibre optic (FO) ducts across different areas in Dubai in 2023. The expansion has increased the total length of these cable ducts to 3,998 kilometres, a 10% increase compared to 2022.This initiative aligns with DEWA's commitment...

According to Tatiana Leskova, Associate Director of Corporate Ratings at Standard and Poor's Global Ratings that the global economy while remaining subdued, operating at subpar growth levels, S&P estimates that UAE GDP expanded at over 3 percent in 2023, including close to 6 percent growth for the non-oil sector”.

Dubai, UAE - Dubai saw record-breaking sale prices throughout 2023, with super-luxury residences selling for up to US$4,000 (AED14,692) per square foot, marking consecutive year-over-year increases since 2020, according to the 2024 Sotheby’s International Realty (SIR) Luxury Outlook Report.For the past two or three years post-Covid lockdowns, high-net-worth buyers have...

DUBAI, UAE - Nasdaq Dubai has welcomed the listing of a US$600 million green bond by China Construction Bank (DIFC Branch).The green bond issuance targets combating climate change, represents China Construction Bank's significant commitment to sustainable financing and highlights the growing synergy in green financing between China and UAE.To mark...

It commissioned 1,414 substations of 11kv in Dubai.

In the GCC's evolving cybersecurity realm, AI integration is crucial, driving economic growth and transforming defense strategies against complex cyber threats.

The deal signifies PureHealth’s operational capabilities.

DUBAI, UAE - Worldwide PC shipments totaled 63.3 million units in the fourth quarter of 2023, a 0.3 percent increase from the fourth quarter of 2022, according to preliminary results by Gartner, Inc.This marks the first time that quarterly shipments have increased after eight straight quarters of decline, a press...

Dubai, UAE -- The real estate and properties transactions valued at 10.1 billion ($2.74 billion) in total during the week ending 12 January 2024. The sum of transactions was 2,910.A total of 209 plots were sold for AED 2.19 billion, 2,100 apartments and villas were sold for AED 4.84 billion.The...

The two will acquire 40.5% stake in the Egyptian firm.

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in 2023, compared to around 10 million digital transactions in 2022, an increase of about 25 percent.This reflects DEWA’s leading role in supporting the leadership’s vision to make Dubai the smartest...

Dubai, UAE – Sales of properties worth more than $1.35 million and $2.70 million in Dubai hit record levels in 2023, reaching 10,296 and 3,806, up 54.5% and 68.4% from a year earlier, respectively, says CBRE in its study. Off-plan sales in both segments of the market have been the primary...

DUBAI, UAE - Yemen's Houthi rebels, who vowed to retaliate against US and British strikes early on Friday against key military sites, have built up a significant arsenal, including cruise missiles and drones.Since the Israel-Hamas war broke out on October 7, the Iran-backed Houthis have carried out a spate of attacks...

ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid, and fully fungible exchange traded fund, that will list on the Abu Dhabi Securities Exchange (ADX).Lunate Capital is an Abu Dhabi-based management company licensed by the Securities and Commodities Authority...

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) has cancelled the license of First Insurance Brokers Company (First Insurance), an insurance company operating in the UAE.CBUAE struck First Insurance’s name off the Register, pursuant to Article 22 (2) of the Board of Directors Resolution No.15 of 2013...

Subsidiaries of TASNEEF were also acquired.

Manama, Bahrain – Morocco became the fifth country to join the UAE, Jordan, Egypt and Bahrain at the fourth meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development which began on Thursday here. The Executive Committee of the now five country partnership held meetings with officials,...

Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Chamber of Commerce and Industry of Sfax, Tunisia, held a meeting to discuss advancing cooperation and joint efforts to further develop the relations between the two countries' business communities.The meeting touched on exchanging commercial delegations, holding joint events and...

Dubai, UAE-- The UAE and Costa Rica have concluded negotiations to sign a comprehensive economic partnership agreement.In this connection, Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Manuel Tovar, Minister of Foreign Trade of Costa Rica, have signed a joint statement to confirm the...

The ministers taking the oath of office were Dr Amna bint Abdullah Al Dahak Al Shamsi who was appointed as Minister of Environment and a member of the UAE Cabinet; Mohamed Mubarak Fadhel Al Mazrouei, the new Minister of State for Defense Affairs and member of the UAE Cabinet; and...

DUBAI, UAE -  Rory McIlroy kicked off his year with a sparkling nine-under-par 62 to take a two-stroke lead after the first round of the Dubai Invitational on Thursday.The world number two is playing his first event since the DP World Tour Championship last November, which was also played in Dubai,...

Oman emerges top performer in the GCC region.

ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps, which resulted in an all-in yield of 4.779 percent.This marks the first Sukuk issued globally in 2024 and stands as the region's first offering for the year.The final spread for...

Dubai, UAE--The Federal Tax Authority (FTA) has signed an agreement with Etihad Credit Bureau to enhance tax compliance in the UAE.The agreement aims to establish an electronic link between the two entities, enabling the Authority to directly access credit reports provided by the Bureau, using them to strengthen compliance with...

Abu Dhabi, UAE - The UAE passport has climbed two positions to secure the 11th spot in the 2024 Passport Index by Henley & Partners. This advancement allows UAE citizens visa-free access to 183 countries. The UAE has been the most improved nation on the Index over the past decade,...

Abu Dhabi, UAE-- Stock markets across the Middle East posted record highs in 2023, with combined gains of $493 billion, propelled by strong performances in the UAE and Saudi Arabia.The UAE led the charge, adding $117.5 billion to its market value, reaching $990.6 billion by the end of last year....

"As 2024 unfolds, we anticipate that both private and public enterprises will increase their investments in the infrastructure and services of the crypto ecosystem. This trend bodes well for the growth of the UAE’s crypto sector. There's every reason to believe that institutional investment will continue to gain momentum," she...

Among the Arab countries, Egypt recorded the highest debt-to-GDP ratio of 92.7 percent while US and China are on an unsustainable fiscal path.

Abu Dhabi, UAE--The UAE Ministry of Investment has signed three memorandums of understanding (MoUs) with India, setting out frameworks for the expansion of bilateral investment cooperation in the renewable energy, food processing and healthcare sectors.The agreements were signed by the respective Indian ministries, underscoring the UAE’s strong commitment to supporting...

Baku, Azerbaijan-- The UAE and Azerbaijan have discussed ways to enhance cooperation in renewable energy, environmental protection, culture, education, and other areas that contribute to sustainable development.The discussion on the deepening of ties took place in a meeting between Shaikh Mohamed bin Zayed Al Nahyan, President of the United Arab...

Dubai, UAE - Middle Eastern carriers recorded a 13.5% year-on-year increase in cargo volumes, strongest performance in the world. In November 2023, the air cargo was over 13.0%, a 15.4% rise compared to November 2022.The International Air Transport Association (IATA) released on Tuesday the data for November 2023 global air cargo...

WASHINGTON, US - The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to 3.7 percent in 2024 and to 3.8 percent in 2025.According to the Global Economic Prospects report released on Tuesday, the World Bank forecast the growth in the Gulf Cooperation Council...

DUBAI, UAE – The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), a part of Dubai Department of Economy and Tourism (DET), has joined forces with Chi-X Digital Assets (CXDA), an AI-based fintech platform.CXDA provides short-term debt products that help generate liquidity, facilitate investment, maximize economic...

Abu Dhabi, UAE - The UAE has announced its participation in developing a module on Nasa’s Lunar Gateway Station alongside the USA, Japan, Canada and the European Union, in addition to sending the first Emirati astronaut into lunar orbit as part of the project.During the event held at Qasr Al...

DUBAI, UAE – For over 30 years, globalization has been the evergreen megatrend as global trade has helped lift some one billion people out of poverty, an expert has said.Yin Zou, the Executive Vice President of Corporate Development, DHL Group, wrote in the World Economic Forum that the COVID-19 pandemic...

DUBAI, UAE - The Artificial Intelligence (AI) revolution is upon us, with AI becoming a pervasive force in our daily lives, an expert has said.Igor Tulchinsky, Founder, Chairman and Chief Executive Officer, WorldQuant, wrote for the World Economic Forum that while AI brings tremendous potential benefits — from diagnosing illness...

Aim is to expand Dragon Oil’s investments in Turkmenistan.

DUBAI, UAE - Aramex, a global provider of comprehensive logistics and transportation solutions, announced a collaboration with the movie, Dunki starring Bollywood Shah Rukh Khan.The partnership marks Aramex as the official brand partner for the movie and is a showcase of the brand’s commitment to expanding its presence in India,...

Abu Dhabi, UAE - The aggregate market capitalization of the top 16 national companies listed on local exchanges stood at approximately $734 billion (AED2.7 trillion). Anticipated growth suggests this figure might reach around $1.63 trillion (AED6 trillion) in the coming years.The 16 listed companies accounted for about 74% of the...