World Economic Forum Convenes Special Meeting on Global Collaboration With geopolitical upheavals and complex economic challenges destabilizing a fractured world, the World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development will convene 1,000 global leaders from 92 countries on 28-29 April, to support global dialogue and find actionable, collaborative and sustainable solutions to shared global challenges. Building on the inaugural Growth Summit, held in Switzerland last year, the meeting will promote forward-thinking approaches to interconnected cris ..read more

China VC Funding Up 28.2% in Q1 2024 Despite Global Downturn China, the most prolific Asia-Pacific market, witnessed year-on-year (YoY) improvement in venture capital (VC) funding value in the first quarter (Q1) of 2024 despite a decline in deals volume. A total of 731 VC deals worth $12.2 billion were announced in China during the period, which is a 11.2% YoY decline in terms of deal volume but 28.2% YoY growth in terms of value. This trend defied the downturn experienced by many of its counterparts globally, reveals  GlobalData a leading data and analytics company. An ana ..read more

Significant fluctuations in online payment transactions In the aftermath of recent severe weather conditions the UAE witnessed, global payments solution provider Checkout.com has conducted a comprehensive analysis revealing significant shifts in transaction volumes across various sectors. The data sheds light on the profound impact of adverse weather on consumer online shopping behaviour and purchasing patterns. Key findings underscore notable changes in transaction volumes particularly in sectors such as Supermarkets, Food & Drink, Vehicle Hire, and the Motoring industry as a whole ..read more

Influencers on X see Meta’s Llama 3 as game-changer in AI accessibility and performance Llama 3, the AI model introduced by the US-based social media company Meta Platforms Inc. (Meta), has sparked a wave of reactions from technology and AI influencers. Influencers on the ‘X’ platform are buzzing with excitement over Llama 3’s launch, viewing it as a transformative step towards democratizing AI, which led to a sharp rise in discussions around ‘Llama 3’ during the third week of April, reveals Social Media Analytics Platform of GlobalData, a leading data and analyti ..read more

50% of Consumers Will Significantly Limit Their Interactions with Social Media by 2025 Gartner: A perceived decay in the quality of social media platforms will drive 50% of consumers to abandon or significantly limit their interactions with social media by 2025, according to Gartner, Inc. A Gartner survey of 263 consumers between July and August of 2023 found 53% of consumers believe the current state of social media has decayed compared to either the prior year or to five years ago. The top reasons for this perceived decline were the spread of misinformation, toxic user bases, and the p ..read more

Could TikTok Be Banned In 9 Months? By Sara Dorn Forbes Middle East: Legislation that could ban TikTok in the U.S. is expected to soon become law after the House approved the bill Saturday as part of a hotly debated foreign aid package—but there are several ways a ban could never actually happen. Key facts The legislation, approved by the House in a 360-58 vote, would force China-based TikTok owner, ByteDance, to sell the app to a buyer that is not controlled by a foreign adversary, such as Russia, China or Iran, within 270 days (with an option for President Joe Biden to ..read more

Deloitte launches Kiyadat to advance GCC national talent into leadership roles Deloitte Middle East announced the launch of Kiyadat, a center of excellence designed to empower national talent across the Gulf Cooperation Council (GCC) region. In Arabic, “Kiyadat” translates to “Leaders”, symbolizing the commitment to fostering national talent and paving their way towards leadership roles. Mutasem Dajani, CEO of Deloitte Middle East, commented on the launch, “The Deloitte Kiyadat Center of Excellence is an exciting element of our business and talent strategy, contributing to the advancement ..read more

PR industry seamlessly adapts to the digital era W7Worldwide, Saudi Arabia’s leading homegrown marketing consultant, has stepped up to the plate as technology waves transform the public relations (PR) industry. In its latest report, “Emerging Dynamics in Public Relations,” PR professionals are advised to utilize digital technology and develop strong audience ties. To successfully traverse the industry’s current transformational phase—defined by the digital era, an advanced media landscape, and varying consumer habits—this proactive approach is crucial. (To read the full report click ..read more

UN Report Assesses Damage to Gaza’s Infrastructure The World Bank: The cost of damage to critical infrastructure in Gaza is estimated at around $18.5 billion according to a new report released today by the World Bank and the United Nations, with financial support of the European Union. That is equivalent to 97% of the combined GDP of the West Bank and Gaza in 2022. The Interim Damage Assessment report used remote data collection sources to measure damage to physical infrastructure in critical sectors incurred between October 2023 and end of January 2024. The report finds that da ..read more

The Consumer Price Index (CPI) in Gaza Strip sharply increased by 165% The overall Consumer Price Index CPI for Palestine during March 2024 recorded a sharp increase by 9.13% compared with February 2024 (25.30% in G   aza Strip, by 0.58% in Jerusalem J1*, and by 0.40% in the West Bank). The changes in Palestinian CPI during March 2024 were traced back to changes in prices of the following expenditure sub groups compared with previous month: Sub Groups %Change Imported Cigarettes + 75.15% Potatoes + 19.27% Fresh Fruits + 15.52% Eggs + 14.60% Fresh Vegetables + 11.89 ..read more