Tuesday 17 October 2017

EV global penetration to hit 90pc by 2050: study

Pure electric vehicles (EVs) are estimated to reach global penetration of 12 per cent, 34 per cent and 90 per cent in 2025, 2030 and 2050, respectively, according to a new report from Bank of America Merrill Lynch (BofAML). Meanwhile, new energy vehicles (NEVs) will see global sa


Could fintech disrupt GCC banks' business models?

Financial technology (fintech) could reduce the profitability of some business lines of GCC banks and change the way they operate over time, according to new report published by S&P Global Ratings. "Technological innovation in the financial sector is a global trend, reac


E-payments bring huge benefits to ‘cashless cities’

Relying more on electronic payments, such as cards and mobile payments, could yield a net benefit of up to $470 billion per year across the 100 cities studied in a survey, roughly the equivalent to 3 per cent of the average GDP for these cities, Visa said. “Cashless Cities: Reali


Global IT spending to reach $3.7trn in 2018: Gartner

Worldwide IT spending is projected to total $3.7 trillion in 2018, an increase of 4.3 per cent from 2017 estimated spending of $3.5 trillion, according to the latest forecast by leading research and advisory company Gartner. Enterprise software and IT services continue to exhibit


Five emerging technology trends in digital economy

People hold the power to shape and apply technology to create positive change and transform business, said a new report, highlighting the five emerging technology trends that are essential to business success in today’s digital economy. “The Accenture Technology Visio


Hacking, malware tools more expensive in Mena: study

Prices for malware and hacking tools are generally a bit more expensive in Mena than in other regions, a report said, highlighting that a keylogger in the North American underground runs for $1-$4, but here it can be up to $19. Hacktivism, DDoS (distributed denial-of-service) att


Sluggish SME development hurts jobs, economy: ILO

With more than 201 million workers unemployed in 2017 – an increase of 3.4 million compared to 2016 – enterprises, particularly small and medium-sized enterprises (SMEs), play a crucial role in creating decent jobs around the globe. Between 2003 and 2016, the number o


Saudi CEOs backing govt drive to cut oil dependence

Chief executives in Saudi Arabia are optimistic about government’s economic diversity programmes and initiatives to reduce oil dependence, especially National Transformation 2020 and Vision 2030, said an industry expert. “CEOs are concerned that their organizations ar


82pc of Saudi women intend to get driving licence, says study

There is a lot of positivity surrounding the recent royal decree issued which allows women in Saudi Arabia to drive cars, with 82 per cent of women likely to get their licence, a study showed. To understand the early sentiment of Saudi residents and the likely outcome of the rece


Global solar PV sector hits record 291GW capacity

The cumulative capacity of the global solar photovoltaic (PV) segment reached 291 GW in 2016, marking another record-breaking year for the solar PV market, said global management consulting firm A T Kearney in a new report. Starting from a low base where solar PV represents 1.8 p

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