Countdown begins for NASA’s historic Moon mission
If successful, Artemis II will carry four astronauts on a lunar flyby, testing critical systems needed for future missions that...
Geostrategy
Empower okays $119.1m H2 2025 dividend
The dividend is equivalent to 43.75% of paid-up capital.
Business
Economy
Tawazun Council acquires TASNEEF
Subsidiaries of TASNEEF were also acquired.
- This strategic move aims to enhance the council's role in developing national defense industries, the Council said.
- TASNEEF has established a number of services, including issuing rules of relevance to the classification of ships.
Business
Bahrain Steel raises $450m SLL
The company produces and supplies high-grade iron ore pellets.
- The proceeds from this loan will be directed towards CAPEX for constructing the world’s largest stockyard shed with rooftop solar panels.
- The SLL's framework incentivizes Bahrain Steel to exceed mandatory greenhouse gas (GHG) emissions reductions.
Business
Saudi insurance sector shows 14.6 percent growth in Q3 of 2023
RIYADH, SAUDI ARABIA- The Insurance Authority (IA) has issued its first report on the performance of the sector in the...
- The report has been issued to provide transparent and accurate information about the performance of the insurance sector.
- The report showed a 2.2 percent increase in the insurance sector’s penetration ratio to non-oil GDP in Q3 of 2023.
Business
ESG and sustainability redefine UAE financial markets
"The UAE's success in establishing a fully regulated carbon market, integrating carbon regulation to manage and trade emissions effectively, providing...
- Nadim Najjar of LSEG highlights UAE's commitment to net-zero emissions and sustainable practices.
- Strategic alliance between ADX and LSEG exemplifies a commitment to sustainability, he adds.
Economy
2023: A year of technological triumphs in the GCC
This year, the GCC region has solidified its technological leadership, with AI, blockchain, and the metaverse leading the charge in...
- In 2023, the GCC region has solidified its technological leadership, with AI, blockchain, and the metaverse leading the charge in transforming various sectors.
- The GCC's 2023 tech journey has been marked by significant strides in sustainable technology, cybersecurity, and a bold entry into space exploration.
Geostrategy
UNSC approves aid resolution as Gaza crisis mounts
As fighting between Israel and Hamas intensifies, the UN Security Council has passed a resolution to enhance aid to Gaza,...
- As fighting between Israel and Hamas intensifies, the UN Security Council has passed a resolution to enhance aid to Gaza, where civilians face severe hardships.
- Escalating conflict between Israel and Hamas in Gaza has led to over 410 deaths in 48 hours and intense urban warfare, triggering a severe humanitarian crisis.
UNCTAD eWeek focuses on AI risks, e-commerce growth in developing countries
At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and...
- At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and ensure a secure digital future.
- Australia committed $2 million to UNCTAD for e-commerce support in developing nations, as Kenya unveiled a national strategy to spur its digital economy growth.
Geostrategy
UAE leads humanitarian efforts in Gaza, seeks truce
"The Gulf country will continue its efforts to achieve peace through tangible steps and a roadmap for a two-state solution....
- The UAE strongly condemns Israel’s collective punishment and displacement policies.
- The country remains committed to Palestinian humanitarian aid and medical support.
Geostrategy
Kuwait, world mourn passing of Emir Sheikh Nawaf; welcome Sheikh Meshal as successor amid challenges
The Gulf country sees a seamless transition of power as Sheikh Meshal ascends to emir following the death of Sheikh...
- The Gulf country sees a seamless transition of power as Sheikh Meshal ascends to emir following the death of Sheikh Nawaf, amidst global condolences and internal challenges.
- Public offices in Kuwait will close for three days, and a 40-day mourning period is declared following Sheikh Nawaf's death, who was hospitalized in November.
YEARENDER
GCC soars in global space race with key advancements
Saudi Arabia's new Saudi Space Agency and first ISS mission, coupled with UAE's Hope Probe and lunar projects, underscore their...
- Saudi Arabia's new Saudi Space Agency and first ISS mission, coupled with UAE's Hope Probe and lunar projects, underscore their rising status in global space sector.
- Bahrain's development of its first satellite and Kuwait's CubeSat initiative underscore the Gulf region's commitment to space technology and research.
Countdown begins for NASA’s historic Moon mission
If successful, Artemis II will carry four astronauts on a lunar flyby, testing critical systems needed for future missions that...
Geostrategy
Company News
Kamco Invest launches two funds
Business
Latest News
Renowned designer Cucinelli stresses sustainability at Saudi event
Riyadh, Saudi Arabia -- Renowned luxury fashion designer Brunello Cucinelli shared his insights on building a global brand and the...
Business
Dubai real estate sets all-time record in 2024
Dubai’s real estate market has had a record-breaking year, with new milestones being set throughout 2024, culminated in an all-time...
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Geostrategy
WEF Global Future Councils meet in Dubai to tackle pressing global issues
More than 500 experts are expected to attend the meeting. Amid a rapidly shifting global landscape of geopolitical tensions, climate...
- The GFC network, representing 80 countries and diverse sectors and disciplines, is uniquely positioned to break down silos and foster cross-sector dialogue.
- Key themes of the meeting programme will include inclusive growth, climate action and the energy transition, and rebuilding trust for global collaboration
Economy
Asia-Pacific markets mixed after Powell signals smaller rate cuts
Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the...
- The current federal funds rate stands at 4.75%-5%
- Sentiment among large non-manufacturers in Japan improved, inching up to +34 from +33 in Q2
Economy
China launches late stimulus push to meet 2024 growth target
China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch...
- hina plans to issue special sovereign bonds worth about $284.43 billion this year
- A wide range of economic data in recent months has missed forecasts