Syrian President’s first foreign trip to Saudi Arabia signals Syria’s shift away from Iran’s influence.
Syrian President Ahmed al-Sharaa met Saudi Crown Prince Mohammed bin Salman in Riyadh, marking his first foreign visit and signaling...
Geostrategy
UNRWA: Reconstructing Gaza Strip exceeds agency’s capabilities due to severe damage
Gaza, Palestine - The United Nations Relief and Works Agency for Palestine Refugees (UNRWA), confirmed today that the reconstruction process...
Geostrategy
Geostrategy
Turkey to hold NATO talks with Sweden next Thursday
Turkey dropped its objections to Sweden's nordic neighbour Finland joining earlier in the year and Helsinki became a NATO member...
- NATO counterparts have been pushing Turkey to grant the green light to Sweden by the time a summit is held in Lithuania on July 11-12
- Sweden and Finland last year reversed decades of hesitation and formally applied to join NATO after Russia invaded Ukraine
Economy
World Bank approves $1bn for Turkiye’s earthquake reconstruction
Ankara, Turkiye - The World Bank has announced its approval of $1 billion in financing to assist Turkiye in the...
- The bank highlighted that the financing will contribute to the restoration of healthcare services and the reconstruction of damaged or destroyed municipal infrastructure
- The project aims to cover 11 provinces, which have been most severely impacted by the earthquake and where approximately 14 million people reside
Geostrategy
Kuwait, France discuss bilateral ties, cooperation on regional, global issues
Paris, France - Kuwait and France discuss bilateral relationship and cooperation on regional and global issues of shared interests on Tuesday. ...
- Kuwaiti foreign minister Sheikh Salem emphasized the close ties between the two nations, and the high level of cooperation they have achieved across various fields
- The discussions also covered a wide range of topics, including the historical links between the two countries and strategies for strengthening their ties
Business
Saudi Gamers8 with a $45m prize pool brings Razer back as gaming gear partner
Riyadh, Saudi Arabia - The Saudi Esports Federation (SEF) on Tuesday announced that Razer, the world’s leading lifestyle brand for...
- Razer will provide premium hardware from their range of gaming peripherals for VIPs and influencers during the esports festival
- Gamers8 has a prize pool of $45 million and the festival concludes with the Next World Forum, a gaming and esports forum
Science
New WEF report reveals technologies to impact world in the next five years
TIANJIN, CHINA - The World Economic Forum on Tuesday announced its annual list of breakthrough technologies with the greatest potential...
- The new technologies include flexible batteries, generative AI and sustainable aviation fuel.
- These would be disruptive, attractive to investors, researchers, and achieve considerable scale within five years.
Geostrategy
Global body to fund 26 FAO projects worth $174.7m
ROME, ITALY - Building on growing momentum to tackle environmental problems by addressing the ways in which our food and...
- With these new projects, FAO's partnership with the GEF will have helped countries access over $1.4 billion in financing.
- These 26 projects will support countries to create or improve the management of nearly 17.9 million hectares of protected areas on land and sea
Business
Aquaterra gets UAE contract
Firm will deliver a complete end-to-end managed service.
- Aquaterra Energy will work closely alongside in-country partners to manufacture and transport the project equipment.
- This will provide thousands of hours of local employment for the region, as well as opportunities for upskilling and knowledge sharing.
Economy
Central Bank of Bahrain treasury bills oversubscribed by 109%
Manama, Bahrain - This week’s BD 70 million issue of Treasury Bills of Government of Bahrain have been oversubscribed by...
- The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain (CBB), on behalf of the Government of Bahrain
- The weighted average rate of interest is 6.15 percent compared to 6.11 percent in the previous issue on June 21
Geostrategy
UAE President discusses strategic ties in a call with Putin
Abu Dhabi, UAE - UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed strategic relations in a phone conversation with...
- Sheikh Mohamed underscored the importance of maintaining stability in Russia and ensuring the safety and security of its people
- President Putin expressed his satisfaction with the progress achieved in various bilateral areas, highlighting growing UAE-Russia relations
Business
OPEC chief anticipates a 23% rise in global oil demand by 2045
Kuala Lumpur, Malaysia - The Organization of the Petroleum Exporting Countries (OPEC) expects global oil demand to rise to 110...
- The CEO of Saudi oil company (Aramco) Amin Nasser predicted that the fundamentals of the global oil market will remain sound for the rest of this year
- Although China is facing some economic headwinds, the transport and petrochemical sectors are still showing signs of demand growth, Nasser noted
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Syrian President’s first foreign trip to Saudi Arabia signals Syria’s shift away from Iran’s influence.
Syrian President Ahmed al-Sharaa met Saudi Crown Prince Mohammed bin Salman in Riyadh, marking his first foreign visit and signaling...
Geostrategy
Company News
Latest News
ESG 2023 net profit at US$187m
The firm posted a year-on-year net profit rise of 316 percent.
Business
Polestar 3, the electric SUV, hits the streets of the UAE
Dubai, UAE – Al-Futtaim Electric Mobility Company, the official distributor of Polestar in the UAE, have announced the official launch...
Business
61 contracts worth $7billion signed at World Defense Show in Riyadh
Riyadh, Saudi Arabia - About 61 purchase contracts totaling approximately SR26 billion ($6.93 billion) were signed at the second World...
Business
Most Read
Geostrategy
Saudi foreign minister meets UNRWA chief in Riyadh, promises support
Riyadh, Saudi Arabia — Saudi Minister of Foreign Affairs Prince Faisal bin Farhan received Philippe Lazzarini, commissioner general of the...
- Prince Faisal reaffirmed the Kingdom's backing for the agency and called on all UNRWA donors to contribute to humanitarian efforts for the Palestinians
- 16 donor countries, including major contributors like the US and Germany, have suspended their funding amid allegations of misconduct within the UNRWA
Geostrategy
Biden’s age under renewed scrutiny following damning revelations in documents investigation
Even before the special counsel report the White House was already on the back foot, facing repeated questions at a...
- The report, released on Thursday, described Biden's memory as "hazy," "fuzzy," "faulty," "poor," and with "significant limitations."
- It highlighted instances where Biden couldn't recall defining milestones in his own life, including the end and beginning of his vice-presidential term
Business
Aldar Properties awards contracts worth US$2.8bn
ABU DHABI, UAE - Aldar Properties has announced the awarding of 49 contracts, totaling US$5.9 billion (AED22 billion), for a...
- The contracts are being recirculated to the local economy, in line with the National In-Country Value (ICV) program.
- The ICV program is crucial to economic and social development, job creation, and the growth of the national GDP.