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These megatrends are set to positively impact the quality of life in communities and drive sectoral and economic developmentIn 2014, the number of people using the internet was 2.8 billion, and by 2024, it grew to 5.5 billion. Over the last 10 years, the world has witnessed a major leap in technological advancement, one that would shape all aspects of human life for many years to come.For instance, artificial intelligence (AI) and quantum computing are expected to reshape and disrupt industries and even create new ones. Generative AI alone is expected to add up to more than $4.4 trillion to…
Gold prices rose in European trade on Monday, resuming gains and approaching a record high above $3000. The gains are boosted by the US dollar’s weakness ahead of the Federal Reserve’s policy meeting this week to discuss economic developments and monetary policies. Prices Gold prices rose 0.35% to $2994 an ounce, with a session-low at $2982. On Friday, gold prices lost 0.15%, the first loss in four days on profit-taking after hitting a record high at $3004. Last week, gold rose 2.6%, the second weekly profit in a row and the largest this year on…
ADNOC boosts the UAE economy with investments in both local and global energy development projects Abu Dhabi National Oil Company (ADNOC) stands as a major element of energy operations in both the UAE economy and worldwide oil and gas sectors. ADNOC started operations in 1971 and now stands as a world-leading integrated energy firm that supports a major portion of the UAE economy and its workforce. The company follows the UAE’s approach toward developing a sustainable economy through its dedication to innovation and sustainability combined with economic growth.ADNOC’s leadership and corporate governance1. Vision and strategic goalsADNOC works towards building operational…
The top organs of the Chinese government and the ruling Communist Party jointly released a 30-point plan to boost domestic consumption on Sunday.The strategy, which analysts have described as Beijing’s most comprehensive policy to stimulate consumption since the 1970s, tackles a broad range of issues that will need to be addressed if China is to shift its economy onto a consumption-driven growth model.Below we offer a closer look at the key measures listed in the plan.Which measures are designed to boost demand?On the demand side, the plan focuses on easing spending by raising household income levels and reducing the financial…
If Ramadan 2025 lasts for 30 days, 30th of Ramadan will also be a public holiday, extending the Eid break The Federal Authority for Government Human Resources (FAHR) in the UAE has announced that the Eid al-Fitr holiday for the federal government sector will be from 1st to 3rd Shawwal 1446 AH, with work resuming on 4th Shawwal. If Ramadan 2025 lasts for 30 days, 30th of Ramadan will also be a public holiday, extending the Eid break.On this occasion, FAHR congratulated the UAE government, its citizens, residents, and the Arab and Islamic nations, wishing them ongoing prosperity and well-being.Ramadan…
36 percent of UK business leaders now see the Middle East as a key investment hub for the next five yearsUK businesses are increasingly turning to the Middle East as a prime investment destination, with interest in the region doubling in recent years, according to new research by Pagefield.More than a third (36 percent) of UK business leaders now see the Middle East as a key investment hub for the next five years, up from just 18 percent who have previously invested there. Investors are eyeing the region’s economic reforms and strategic infrastructure projects as key drivers for their decisions.This…
Establishments must comply with regulations and keep separate financial records for operations outside the free zone Dubai’s Executive Council has issued Resolution No. (11) of 2025, regulating Dubai free zone businesses to enhance their operations beyond the free zones. In his capacity as the Chairman of The Executive Council of Dubai, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, has issued Executive Council Resolution No. (11) of 2025, which governs the operations of free zone establishments in Dubai.The provisions of this resolution are applicable to establishments aiming…
My top 10 things to watch Monday, March 17 1. Nvidia’s annual GTC conference will dominate this week’s news. Nvidia’s stock has had big run-up into the event for AI developers. That’s normal, as is a rally after. The AI chip king, which we own for the Club, is expected to share new details about its next-generation products. 2. Treasury Secretary Scott Bessent said on NBC’s “Meet the Press” that he’s not worried about the negative stock market reaction to President Donald Trump’s shifting tariff policy. “Corrections are healthy,” Bessent said. He also referenced the famous “voting machine/weighing machine” quote.…
The Japanese yen fell in Asian trade on Monday against major rivals, moving in a negative zone for the second straight day against the dollar and approaching multi-week lows on speculation about the Bank of Japan’s policy meeting this week. The BOJ is expected to maintain interest rates unchanged amid growing concerns about outside economic risks, with traders awaiting more clues on the path of policy tightening this year. The Price The USD/JPY rose 0.3% today to 149.06 yen per dollar, with a session-low at 148.46. The yen fell 0.55% on Friday against the dollar, marking…
A sign hangs above the entrance of a Hermes retail store on Feb. 14, 2025 in Chicago, Illinois.Scott Olson | Getty ImagesConsumers spent at a slower than expected pace in February, though underlying readings indicated that sales still grew at a solid pace despite worries over an economic slowdown and rising inflation.Retail sales increased 0.2% on the month, better than the downwardly revised decline of 1.2% the prior month but below the Dow Jones estimate for a 0.6% increase, according to the advanced reading Monday from the Commerce Department. Excluding autos, the increase was 0.3%, in line with expectations.The sales…