World Governments Summit opens with record global participation

Running until 14th February, the 12th edition of the summit brings together heads of state and government, international and regional organisations, global institutions, and leading experts to explore key future trends in governance and critical sectors.
The opening day features multiple forums, including the Future of Work Forum, Government Experience Exchange Forum, Government Services Forum, Future of Government Communication Forum, Artificial Intelligence Forum, Future of Education Forum, Future of Mobility Forum, and Gender Balance Forum.

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Khaleej Times

a day ago

• Khaleej Times

Pakistan recommends US President Donald Trump for 2026 Nobel Peace Prize

The Pakistani government has decided to formally recommend US President Donald Trump for the 2026 Nobel Peace Prize, citing his "decisive diplomatic intervention and pivotal leadership" during the recent conflict between India and Pakistan. The conflict ended in a ceasefire after several days of cross-border shelling. In a post shared on X, the government said the international community had "bore witness to unprovoked and unlawful Indian aggression, which constituted a grave violation of Pakistan's sovereignty and territorial integrity, resulting in the tragic loss of innocent lives, including women, children, and the elderly." Following the Indian aggression, Pakistan "launched Operation Bunyanum Marsoos -- a measured, resolute, and precise military response", the post read. It noted that the response was executed to exercise the country's "fundamental right to self-defence" and "carefully to re-establish deterrence", defending its "territorial integrity while consciously avoiding civilian harm." The post further read that "at a moment of heightened regional turbulence", President Trump "demonstrated great strategic foresight and stellar statesmanship through robust diplomatic engagement with both Islamabad and New Delhi." It continued that the US president "de-escalated a rapidly deteriorating situation, ultimately securing a ceasefire and averting a broader conflict between the two nuclear states that would have had catastrophic consequences for millions of people in the region and beyond," as reported by Dawn. "This intervention stands as a testament to his [Trump's] role as a genuine peacemaker and his commitment to conflict resolution through dialogue," it added. "Durable peace in South Asia would remain elusive until the implementation of United Nations Security Council resolutions concerning Jammu and Kashmir," it observed. The government noted that President Trump's leadership during the 2025 Pakistan-India crisis "manifestly showcases the continuation of his legacy of pragmatic diplomacy and effective peace-building". In conclusion, the post read that Pakistan remains hopeful that Trump's "earnest efforts" will continue to contribute towards regional and global stability, particularly in the context of ongoing crises in the Middle East, including the humanitarian tragedy unfolding in Gaza and the deteriorating escalation involving Iran, as reported by Dawn. Trump has repeatedly said that the nuclear-armed South Asian neighbours agreed to a ceasefire after talks mediated by the US, and that the hostilities ended after he urged the countries to focus on trade instead of war, Dawn reported. The cessation of hostilities between India and Pakistan was reportedly agreed upon following a call from Pakistan's Director General of Military Operations (DGMO) to his Indian counterpart, Lieutenant General Rajiv Ghai. During the conversation, the Pakistani DGMO proposed an end to hostilities, which was accepted by the Indian side, leading to a cessation of cross-border firing and air intrusions starting from 5:00 pm on May 10. However, Lieutenant General Ghai later disclosed that the cessation of hostilities was short-lived, as Pakistan violated the agreement with cross-border firing and drone intrusions just hours after it took effect. The conflict had initially intensified after the Indian Armed Forces launched Operation Sindoor on May 7, targeting nine terrorist infrastructure sites in Pakistan and Pakistan-occupied Jammu and Kashmir (PoK). This operation was a direct response to the April 22 terror attack in Pahalgam, Jammu and Kashmir, which resulted in the death of 26 civilians, including one Nepali national. The Indian military's retaliatory strikes were followed by increased cross-border shelling from Pakistan and a series of counter-responses by the Indian Armed Forces.

Zawya

2 days ago

• Zawya

Gross banks' assets up by 1.9% to $1285.1bln at end of March: CBUAE

The Central Bank of the UAE (CBUAE) announced the increase in money supply aggregate M1 by 0.4%, from AED982.4 billion at the end of February 2025 to AED986.2 billion at the end of March 2025. The increase was due to AED5.1 billion growth in currency in circulation outside banks, overriding the AED1.4 billion decrease in monetary deposits. The money supply aggregate M2 increased by 3.3%, increasing from AED 2,360.3 billion at the end of February 2025 to AED2,437.7 billion at the end of March 2025. M2 increased because of an elevated M1, and AED73.8 billion increase in Quasi-Monetary Deposits. The money supply aggregate M3 also increased by 2.9%, from AED2,811.7 billion at the end of February 2025 to AED2,893.7 billion at the end of March 2025. M3 increased due to the growth in M2, and AED4.5 billion increase in government deposits. The monetary base increased by 2.0%, from AED816.6 billion at the end of February 2025 to AED833.1 billion at the end of March 2025. The growth in the monetary base was driven by increases in currency issued by 4.1% and in reserve account by 62.0%, overriding the decrease in banks & OFCs' current accounts & overnight deposits of banks at CBUAE by 64.2% and in monetary bills & Islamic certificates of deposit by 6.3%. Gross banks' assets, including bankers' acceptances, increased by 1.9% from AED4,632.2 billion at the end of February 2025 to AED4,719.4 billion at the end of March 2025. Gross credit increased by 1.6% from AED2,204.3 billion at the end of February 2025 to AED2,240.0 billion at the end of March 2025. Gross credit increased due the combined growth in domestic credit by AED19.5 billion and foreign credit by AED16.2 billion. The growth in domestic credit was due to increases in credit to the; public sector (government-related entities) by 0.2%, private sector by 1.4% and non-banking financial institutions by 1.9%, while credit to the government sector decreased by 0.3%. Banks' deposits increased by 2.3%, from AED2,871.5 billion at the end of February 2025 to AED2,936.4 billion at the end of March 2025. The increase in bank deposits was driven by the shared growth in resident deposits by 2.4%, settling at AED2,687.8 billion and in non- resident deposits by 0.4%, reaching AED248.6 billion. Within the resident deposits; government-related entities deposits increased by 4.3%, private sector deposits increased by 3.1% and non-banking financial institutions deposits increased by 5.1%, while deposits to the government sector decreased by 2.3%, by the end of March 2025.

UAE Moments

2 days ago

• UAE Moments

Sheikh Mohammed Announces an AI System as UAE Cabinet Member

The Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid, announced that an AI system will serve as an advisory member of the UAE Cabinet. H.H. Sheikh Mohammed said on Friday, June 20, that the National Artificial Intelligence System will join the UAE Cabinet as an advisory member from January 2026. The Ruler of Dubai wrote on X, "We also announce that the National Artificial Intelligence System will be adopted as an advisory member of the Cabinet, the Ministerial Development Council, and all boards of directors of federal entities and government companies, starting in January 2026." He added, "The goal is to support decision-making in these councils, conduct immediate analyses of their decisions, provide technical advice, and enhance the efficiency of government policies adopted by these councils across all sectors."