US Pentagon chief says military ready to ensure Iran never gets a nuclear bomb
Washington, United States -- The US defense secretary reiterated Sunday that the United States hopes for a diplomatic solution to...
Geostrategy
Iraq signs deal with US firm to produce 24,000 MW of electricity
Prime Minister Mohammed Shia al-Sudani oversaw "the signing of a Memorandum of Understanding as part of a strategic cooperation framework...
Economy
Business
Clip of Gaza as seaside resort posted on Trump social media accounts
The video, which racked up more than 15 million views on Instagram and was shared thousands of times on Trump's...
- The 33-second clip remained on Trump's accounts without denial or retraction hours after the initial posting.
- Trump has floated the idea of a US takeover of Gaza under which its Palestinian population would be relocated -- a proposal met with global condemnation.
Business
AI to replace 4,000 jobs in Southeast Asia’s largest bank: DBS
Singapore, Singapore -- Southeast Asia's largest bank DBS said that 4,000 jobs could be cut in the next three years...
- A Bloomberg Intelligence report last month said banks worldwide will cut as many as 200,000 positions in the next three to five years due to AI.
- Last year, the International Monetary Fund said AI could affect around 40 percent of jobs around the world.
Business
TAQA net income $1.93bn in 2024
The company's revenues increased 6.7 percent year-on-year.
- TAQA said the net income excludes one-off items (AED 10.8 billion) related to the acquisition of a 5 percent stake in ADNOC Gas.
- The company's revenues increased 6.7 percent year-on-year to AED55.2 billion, driven by sustained Transmission & Distribution (T&D) growth.
UN chief slams ‘distressing’ spending on arms over climate
Without action, "the situation will deteriorate," he warned. "Conflicts are multiplying. The climate crisis is set to spiral, as emissions...
- "It is distressing to see governments spending heavily on arms, while starving budgets for food security, climate action, and broader sustainable development," Guterres said
- "We can break the deadly nexus of hunger, climate chaos, and conflict. And quell the threat they pose to international peace and security," Guterres added further
Economy
China’s new tariffs policy to hasten industrial transformation
Beijing, China -- China's import and export tariff adjustments on some goods took effect on Monday, including implementing provisional import...
- China lowered import tariffs on resources and NEVs, aiming to enhance competitiveness and secure supplies.
- Tariffs on medicines and food for medical purposes were cut, reflecting a focus on health and consumer needs.
Economy
Qatar’s industrial sector PPI down in Nov on lower oil prices
Doha, Qatar -- Qatar's Producer Price Index (PPI) of the industrial sector in the country for November was 118.65 points,...
- Qatar's industrial PPI fell 1.95% in November, driven by oil price drops in mining and some manufacturing sectors.
- Electricity prices defied the trend, showing MoM and YoY increases, while water prices dipped MoM but rose slightly YoY.
Business
MODON launches 10 projects
The projects in 6 industrial cities are valued at $143 million.
- These projects, conducted in collaboration with several national companies, aim to foster opportunities for value chain initiatives and bolster local content.
- Among the agreements, MODON has inked a contract for establishing 80 factories and ready-made products in Al-Ahsa and Taif's industrial cities.
Business
IsDBI begins building digital marketplace for Islamic finance
Jeddah, Saudi Arabia -- The Islamic Development Bank Institute (IsDBI) has kicked off the development of the Islamic Finance Knowledge...
- The Pavilion will provide a digital marketplace of validated solution providers (institutions, consultants, and experts) in Islamic finance and economic development.
- This project aligns with the IsDBI’s objective to provide fintech knowledge solutions to the Islamic finance industry to support sustainable development in member countries.
Business
Makeen, Rolls-Royce forge partnership
They will manufacture, test, sell and service mtu engines in Saudi.
- The deal marks a milestone for the industrial development of the Kingdom’s rapidly growing marine and off-grid power generation sectors, according to the release, Aramco said.
- Makeen aims to deliver state-of-the-art solutions to meet the evolving demands of our valued customers in oil and gas, said Makeen CEO Abdullah Al-Ghamdi.
Business
Qatar’s foreign merchandise trade surplus $4.58 billion in Nov 2023
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...
- Total exports of goods amounted to around QR 26.5bn in Nov 2023, showing a decrease of 28.6 percent compared to Nov 2022, and a decrease of 8.8 percent compared to Oct 2023.
- In Nov 2023, China was at the top of the countries of destination of Qatar's exports with close to QR 5.4 billion, a share of 20.4 percent of total exports.
US Pentagon chief says military ready to ensure Iran never gets a nuclear bomb
Washington, United States -- The US defense secretary reiterated Sunday that the United States hopes for a diplomatic solution to...
Geostrategy
Company News
Qatar’s ‘Hit Show’ wins $12 million Dubai World Cup
Arts & Culture
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Abu Dhabi real estate transactions reach $4.69bn in Jan, Feb 2025
Abu Dhabi, UAE -- Real estate transactions in Abu Dhabi reached AED17.24 billion ($4.69 billion) in the first two months...
Business
Two lunar landings in a week for NASA’s private Moon fleet
Washington, United States -- More than fifty years passed between the last Apollo mission and the United States' return to...
Geostrategy
Europe backs Zelensky after White House showdown with Trump
German Foreign Minister Annalena Baerbock said the "unspeakable" row "underlined that a new age of infamy has begun". Friedrich Merz,...
Geostrategy
Most Read
Business
How cyber criminals steal cryptocurrency
Hackers from North Korea have become notorious for their sophisticated and relentless tradecraft, according to Chainalysis. Nearly 60 percent of...
- A recent $1.5-billion heist of Ethereum from the Bybit platform -- attributed by the FBI to North Korean hackers -- is believed to be the largest yet.
- Cryptocurrencies are based on blockchain technology, which publicly records transactions between people holding and exchanging them.
Business
Clip of Gaza as seaside resort posted on Trump social media accounts
The video, which racked up more than 15 million views on Instagram and was shared thousands of times on Trump's...
- The 33-second clip remained on Trump's accounts without denial or retraction hours after the initial posting.
- Trump has floated the idea of a US takeover of Gaza under which its Palestinian population would be relocated -- a proposal met with global condemnation.
Business
AI to replace 4,000 jobs in Southeast Asia’s largest bank: DBS
Singapore, Singapore -- Southeast Asia's largest bank DBS said that 4,000 jobs could be cut in the next three years...
- A Bloomberg Intelligence report last month said banks worldwide will cut as many as 200,000 positions in the next three to five years due to AI.
- Last year, the International Monetary Fund said AI could affect around 40 percent of jobs around the world.