Friday 24 March 2017

GCC on track for major economic recovery in 2017

While regional economies have been impacted by global reduction in oil prices, a recovery is expected from 2017 onwards, driven by a growth in oil prices as well as due to an increasing focus on economic diversification, a report said. One of the most important sectors which can


Extreme, unusual climate trends continue in 2017

Extreme weather and climate conditions have continued into 2017, while 2016 made history with a record global temperature, exceptionally low sea ice, and unabated sea level rise and ocean heat, according to the World Meteorological Organization (WMO). WMO issued its annual statem


Stay the course on risk assets: Barclays

World economy is expected to grow 3.7 per cent in 2017, which, while unimpressive by historical standards, suggests meaningfully firmer growth than in 2016, says Barclays, the UK-based multinational banking and financial services company. There has been a synchronized upswing in


Gates stays richest; number of billionaires jumps

Microsoft founder Bill Gates is the richest in the world for the fourth year in a row, according to the latest Forbes billionaires list. Gates has a fortune of $86 billion, up from $75 billion last year. The number of billionaires jumped 13 per cent to 2,043 in 2017 from 1,810 la


Renewable energy costs on ‘rapid decline’

Wind and solar PV technologies have seen rapid cost reductions and can now provide electricity at or below the cost of traditional sources in a growing number of countries, the International Energy Agency (IEA) said in a new report. This makes them more appealing for countries se


Global CO2 emissions flat for third straight year

Global energy-related carbon dioxide emissions were flat for a third straight year in 2016 even as the global economy grew, according to the International Energy Agency, signalling a continuing decoupling of emissions and economic activity. This was the result of growing renewabl


Bosch teaches cars how to learn and take action

Bosch, the supplier of technology and services, presented an onboard computer for automated vehicles at the international Bosch ConnectedWorld 2017 conference in Berlin. Thanks to artificial intelligence (AI), the computer can apply machine learning methods. The AI onboard comput


Oil market likely to slide into deficit in H1: IEA

If Opec maintains its current production levels to June when the Vienna output deal expires, there will be a market deficit of 0.5 million barrels per day (bpd) for the first half of 2017, assuming, of course, nothing changes elsewhere in supply and demand, said an International Energy Agency (


'Privatising airports will drive growth'

As passenger volumes continue to grow and airlines worldwide expand their fleets, airport infrastructure is fast becoming a growth bottleneck. Privatisation has an important role to play in eliminating this barrier to growth, according to Oliver Wyman’s ‘Leveraging th


Six trends changing the GCC mobile landscape

Mobile phones have evolved considerably over the past two decades from being just simple communication devices to becoming the most innovative compact entertainment systems empowering people to view content on demand whilst having the ability to share their most intimate moments all from the pa

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