In the Middle East, the UAE and Saudi Arabia have been leading the decarbonization conversation with pivotal government initiatives that encourage businesses to reduce their carbon footprint. Now, 2022 and beyond will be about delivering on and monetizing those ambitions despite all the challenges, he adds.

TRENDS takes an in-depth look at how the regional govts are reshaping their policies to make the technological ecosystem more lucrative and useful for metaverse and blockchain.

The Gulf countries still need to develop more laws since the use of Metaverse and Blockchain will expand in only some regions, something that "undermines the idea of a single, cohesive region in this sector, he adds.

Several MENA countries have fared well on all three domains of the Genuine Progress Indicator, which has been hailed as a much better metric of a nation's progress than GDP.

The UAE Ministry of Energy and Infrastructure received the 'Sustainability Leader in Shipping' award and a 'Decarbonization Champion in Power Sector' award during the recently held Decarbonization and Climate Action Awards

Several crypto platforms have recently launched dedicated NFT marketplaces. TRENDS tries to find out which business and economic sectors have been covered by NFTs in the UAE.

The sector, according to a KPMG report, scores low on customer satisfaction due to operational issues, lack of timely support, long waiting times and lack of feedback.

From making solar energy available at 1.35 cents per kilowatt hour to building three of the world's largest solar parks, the Emirates has taken a lead in the fight against climate change.

The UAE, Japan and Singapore have emerged as the trendsetters in regulating the crypto-currency market effectively, according to a top European academic.

Rise in fuel prices, scorching heat and constant rush to deliver due to 'unrealistic promises' made to clients by online platforms are impacting lives of thousands of riders.

75 percent of respondents in Kuwait and 60 percent in Qatar said their country has a shortage of people with specialised skills.

Saudi Arabia has consolidated its position in the Arab world as the largest economy, posting a domestic output of $833.5 billion last year, the equivalent of 29.7 percent of the entire Arab region.

A Katyusha rocket struck near an Emirati-owned gas complex in northern Iraq on Friday, a local official said, the second such unclaimed attack in as many days. UAE energy company Dana Gas owns the complex, and the gas field lies between the cities of Kirkuk and Sulaimaniyah.

As the complexity of the pandemic and supply chain challenges have affected building material prices, the region should look for alternatives, says Nizam Abdul Baki of Purity.

The two-day 'Make it in the Emirates' event hosted by Abu Dhabi, highlight the UAE's capacity to ensure the growth of national industry and identify a number of products the country will depend on in the coming years

Muslims during Eid Al Adha traditionally buy a whole sheep to be slaughtered and distributed among friends, family, and the poor.

Mariam bint Mohammed Almheiri, UAE’s Minister of Climate Change and the Environment, has said UAE is keen to enhance efforts aimed at building sustainable food and agricultural systems in GCC. She was speaking at the 32nd Meeting of the GCC Agricultural Cooperation Committee. Almheiri commended the Committee and hoped that...

The UAE government has announced it will issue a dual-tranche US dollar benchmark size bonds with a 10-year tranche and a 30-year Formosa tranche. The 10-year tranche will be listed on London Stock Exchange (LSE) and Nasdaq Dubai, and the 30-year tranche will be listed on London Stock Exchange (LSE),...

Listed public joint stock companies have approved AED 34.4 billion ($9.36 billion) cash dividends for 2021, according to the Securities and Commodities Authority (SCA)'s Annual Report 2021. The figures released indicated that up to AED34 billion earnings were distributed in cash while AED396 million were in form of stock dividends....

Arab govts in touch with Israel have no differences with it regarding the May 4 incident, Eliav Benjamin, Israeli foreign ministry director for Middle East affairs, tells TRENDS.

UN Resident Coordinator for UAE Dr. Dena Assaf has praised the UAE’s environmentally-friendly endeavours to protect the environment and achieve sustainable development goals. The UN official hailed Abu Dhabi's decision to ban the use of single-use plastic bags from 1st June, as the first city in the Middle East. This...

UAE’s Ministry of Finance has announced that the revenues of federal authorities in the first quarter of 2022 amounted to AED11.339 billion ($3 billion) while their expenditures amounted to some AED11.354 billion during the same period. In the financial performance report of the outcomes of the implementation of the general...

The UAE Ministry of Industry and Advanced Technology (MoIAT), Emirates Development Bank (EDB), and EDGE Group, one of the world’s top 25 advanced technology groups for defence, have signed a mutual agreement to support the Group's manufacturing development. The agreement is in line with the UAE’s Fourth Industrial Revolution program,...

In spite of high inflation, residents of the GCC countries are seeking newer destinations in Europe and beyond to travel to, Trupt Shah of Musafir.com tells TRENDS.

UAE's Financial Restructuring Committee has formed a Consultative Council to provide an open discussion forum between the FRC and experts in the field of financial reorganization of defaulting companies and bankruptcy cases.

Etihad Credit Insurance (ECI) and Israel Export Insurance Corporation have entered into an agreement under which ECI will provide buyer’s credit guarantees to the funding bank for Ghana’s AED 540 million ($147 million) healthcare project. This project comprises the construction of a new general regional hospital in Tema, the largest...

Identifies $19bn worth of products that can be manufactured in UAE.

The Gulf region seems to have a better fiscal positions thanks to high oil prices and the recovery of the economies from the Covid-19 related woes.

One big factor for more HNWIs making their way to the UAE is the ongoing war in Ukraine which has triggered the biggest emigration of millionaires from Russia over the last six months, with forecast net outflows of 15,000 by the end of 2022 -- a massive 15% of its...

Putin and Arab leaders focus on boosting relations in various fields -- including technology, food security and energy -- during Saint Petersburg International Economic Forum 2022.

Dubai Customs Consultative Council held a meeting on the historic UAE-India Comprehensive Economic Partnership Agreement, expected to increase trade between the two countries by 120 percent to US$100 billion within five years.

Firms in the region are now offering better participation, levels of cooperation and communication to their staff through productive workspaces in virtual offices. TRENDS takes a look at the some of the UAE's metaverse initiatives.

Equities in the Middle East imitated the global stock markets, falling as central banks raised interest rates to fight off soaring inflation.

The recovery process of the sector remains fragile and could be disrupted by the ongoing war in Ukraine, fuel price increases, and other potential health threats, say experts.

The second edition of Industry 4.0 and AI for Industrial Leaders that saw the participation of industry leaders in the UAE is designed to develop knowledge and skills in the implementation of artificial intelligence (AI) in industry enhance the nation’s industrial capacity through Fourth Industrial Revolution (4IR) technologies. The four-day...

The United Arab Emirates urged Iran on Friday to provide reassurances on the peaceful nature of its nuclear programme after the International Atomic Energy Agency denounced Tehran's lack of cooperation. "There are concerns," said the permanent representative of the UAE to the IAEA, Hamad Al Kaabi. In response to an...

The UAE attaches great importance to developing the intellectual property (IP) system and encouraging innovators and creators and the country has made significant progress in this regard by developing a legislative structure for this vital sector and promulgating a number of laws that will help build innovation capabilities and promote...

In 2020, women held 3.5 percent of all board positions in the UAE. The next year, the Securities and Commodities Authority (SCA) set a quota for all listed companies to put at least one woman on their boards by 2025. As of June 2022, women hold 8.9 percent of the...

The group has seven eLink stations, five located in Dubai and two in Abu Dhabi.

Industry Development Council meeting reviews recommendations made at the first meeting, progress in implementing them and discusses the development of a unified platform for industrial data

The UAE-Germany non-oil trade exchange exceeded AED 478 billion ($130 billion) from 2012- 2021, according to data from the Federal Competitiveness and Statistics Centre (FCSC). The imports accounted for 89.5 percent of the total trade exchanges, while exports 3.5 percent and re-exports accounted for seven percent. The data showed that...

UAE's Ministry of Economy said the "decision comes in view of the international developments that have affected trade flows and in appreciation of the strategic relations that bind the two countries, especially after the signing of the Comprehensive Economic Partnership Agreement.

The UAE will raise its 2022 federal budget spending by an additional Dh1.23 billion ($334.9 million), according to the Federal National Council (FNC)

The Foreign Direct Investment (FDI) in Jordan amounted to $622 million in 2021, constituting 1.2 percent of the Arab region's total FDI. The Arab Investment and Export Credit Guarantee Corporation (Dhaman) issued data Tuesday which confirmed this. The Arab region's FDI in 2021 went up by 42 percent to $53...

Economic growth in the MENA region is forecast to accelerate to 5.3% in 2022 before slowing to 3.6% in 2023, according to the World Bank. Find out the country-wise breakup.

The UAE's residential real estate market is poised to grow at a CAGR of 12.36 percent by 2026, Sharjah Sustainable City CEO Yousif Ahmed Al-Mutawa tells TRENDS

Germany and the UAE as strong economic partners will continue trade but they can make joint investments in the 'new economy' that will help achieve their net-zero targets

The use of tobacco by people across the world has gone down, and the Middle East has been no exception, where many users have kicked the habit.

Under the new visa scheme, all GCC residents with a valid resident and work visa issued by the UAE, Bahrain, Kuwait, Oman, and Qataris immigration authorities will be allowed entry into Saudi Arabia for business, tourism, and Umrah purposes, with the exception of Hajj – the annual Islamic pilgrimage.

The UAE and Uzbekistan have pushed for a new phase of their strategic partnership for government modernization to promote the exchange of knowledge, expertise, and successful experiences.