Syria revamps interior ministry to reassure West
The interior ministry restructure includes reforms and creating "a modern civil security institution that adopts transparency and respects international human...
Geostrategy
Antonio Guterres denounces ‘cruelest phase’ of Gaza conflict
"For nearly 80 days, Israel blocked the entry of life-saving international aid," Guterres said. "The entire population of Gaza is...
Geostrategy
Business
QatarEnergy, Mitsui ink pact
The agreement provide for a rise in condensate volumes.
- The 10-year supply agreement stipulates the supply of up to 11 million barrels of condensates per annum, starting from April 2024.
- The agreement highlights QatarEnergy's strategy of establishing longer-term strategic business relationship and cooperation.
Business
Total M&A market drops to US$3.2trn in 2023, says report
DUBAI, UAE - The total M&A market dropped 15 percent, to US$3.2 trillion, the lowest level in a decade, as...
- Many of the assets that did not come to market last year will fuel active dealmaking in 2024.
- The collapse of technology M&A has been the biggest drag on strategic mergers and acquisitions.
Business
Jordan’s EMRC grants approvals for EV charging infrastructure
AMMAN, JORDAN - The Energy and Minerals Regulatory Commission (EMRC) has issued over 300 authorizations for the installation of electrical...
- EMRC records indicate a distribution of 49 publicly accessible charging stations alongside 14 privately owned stations.
- The capacity for the installation of multiple charging units at a single site, with 230 charging facilities holding establishment permits.
Economy
Saudi Arabia sets $54m threshold for public-private partnership projects
Riyadh, Saudi Arabia - Saudi Arabia has revised the regulations of its Privatization Law, setting the minimum limit for a...
- The amendments consist of 169 articles covering principles of privatization, minimum project values, and criteria for applying the system to privatization projects
- Saudi Arabia initiated the privatization program in 2018 to boost the national economy, enhance the private sector's role, and allocate government assets efficiently
Business
AD Ports Group, KPT ink pact
The pact deals with bulk and general cargo terminal.
- A JV between AD Ports Group and Kaheel Terminals will develop, operate and manage bulk and general cargo terminal berths 11-17 at Karachi Port.
- General cargo operations will primarily handle steel, paper and clinker, while the clean bulk terminal will focus on grains and fertilizers.
Economy
OPEC Fund offered US$1.7 bn in development funding in 2023
Vienna, Austria - The OPEC Fund for International Development allocated US$1.7 billion across 55 projects globally in 2023, providing funding...
- The largest share in last year’s lending program was dedicated to policy-based-lending (31 percent).
- The transport and storage sector received the major share of OPEC Fund’s support (14 percent)
Economy
Saudi Central Bank Governor discusses global economy in meeting with ECB chief
Riyadh, Saudi Arabia - The Saudi Central Bank Governor (SAMA) Ayman Al-Sayari discussed the recent developments in central banking and...
- Several events were organized on the sidelines of the visit including a high-level panel discussion titled “Interconnectedness and Increasing Capital Flow.”
- In addition, a seminar on "Women’s Empowerment within Central Banks” was conducted and featured speeches by SAMA’s governor and the ECB president
Economy
IMF upgrades Saudi Arabia’s 2025 economic growth prediction to 5.5%
Riyadh, Saudi Arabia - The International Monetary Fund (IMF) has revised its growth projections for Saudi Arabia's economy, revealing a...
- The IMF envisions a 3.1% global economic growth in 2024, followed by a further increase to 3.2% in 2025
- The upgraded forecast reflects the continuous economic growth and prosperity in the Kingdom
Geostrategy
UAE signs pact to develop digital infrastructure in Greece
ABU DHABI, UAE - The Ministry of Investment of the UAE and the Ministry of Digital Governance of the Hellenic...
- Data centers to be developed under this MoU can reach a total capacity of 500 megawatts.
- The data center market in Greece has witnessed significant growth in the last few years.
Economy
Saudi Arabia launches program to boost exports
Riyadh, Saudi Arabia - Saudi Arabia has embarked on a program to equip Saudi exporters with the necessary information on...
- General Authority for Foreign Trade, through its Agency for Private Sector Affairs and International Representation, has launched workshops called "Through the Attachés"
- The Foreign Trade Authority, with a focus on boosting exports, and safeguarding trade interests, plays a critical role in developing the national economy
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Syria revamps interior ministry to reassure West
The interior ministry restructure includes reforms and creating "a modern civil security institution that adopts transparency and respects international human...
Geostrategy
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Trump pledges historic tax cuts, investment growth, oil price action, and Ukraine peace effort at Davos 2025
The newly inaugurated president remarked that he would “like to meet with President Putin soon” and “get the war ended,”...
WEF25: Saudi delegation calls for nations to put “greater good” first
The international community must prioritize cooperation and dialogue to overcome the challenges of a fragmented world, the Saudi delegation to...
Economy
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
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Geostrategy
Ceasefire agreement between Israel and Hamas goes into effect, marking first steps toward peace
As the first phase of the ceasefire takes effect, the world watches to see whether this temporary reprieve will be...
- The complex deal consists of three phases, each lasting 42 days, and it will see both sides release prisoners and hostages in exchange for a temporary halt to the violence
- Netanyahu’s warning that Israel retains the right to resume fighting and Hamas’s insistence on a complete Israeli withdrawal and a lasting ceasefire make the road to lasting peace
Geostrategy
Joint Operations Room set up in Cairo to oversee Gaza ceasefire implementation
Cairo, Egypt - A joint operations room has been established in Cairo to oversee the implementation of the Gaza Strip...
- The room, comprising representatives from Egypt, Palestine, Qatar, the US, and Israel, aims to ensure collaborative efforts and consistent adherence to the agreement's provisions
- This agreement, the source noted, represents a significant step towards preventing further escalation and fostering long-term stability in the Gaza Strip
UAE leads solar energy growth with strategic projects
Abu Dhabi, UAE - A new report highlighted the UAE's leadership in the regional solar energy sector, driven by initiatives...
- The "Solar Outlook Report 2025" report outlines the rapid growth of solar energy in the Middle East and North Africa (MENA) region and the UAE’s key role in this transformation
- Solar energy's share in the regional energy mix grew significantly, with solar capacity in MENA rising 23% in 2023 to 32 GW peak, and projected to exceed 180 GW by 2030