World Bank announces plans to restart Syria operations
Washington, United States -- The World Bank on Friday said it would restart operation in Syria following a 14-year pause,...
Geostrategy
Trump’s solar tariffs could drive Asia transition boom
Bangkok, Thailand -- Massive planned US duties on solar panels made in Southeast Asia could be a chance for the...
Business
Arts & Culture
Mandoob shines light on Riyadh’s social transformation
The film is about an overworked delivery app driver in Riyadh, Fahad Nassir, who has taken a bold step into...
- The film is about an overworked delivery app driver in Riyadh, Fahad Nassir, who has taken a bold step into the world of bootlegging
- Mohammed Aldokhi, portraying Nassir, stars in Ali Kalthami's highly anticipated dark comedy feature debut, which explores the rarely seen ultra-modern Saudi nightlife
Business
Abu Dhabi’s Mubadala to invest $1 billion a year in Brazil
New York, United States - Mubadala Capital, the investment arm of Abu Dhabi’s sovereign wealth fund, plans to invest more...
- The firm’s second fund in the country, Brazil Special Opportunities Fund II (BSOF II), has raised over $710 million in commitments
- Mubadala Capital was the first sovereign wealth fund to manage capital on behalf of third-party institutional investors
Geostrategy
Hamas strike stuns, yet it’s important to remember backstory
Since 2008, Israel has conducted four major military operations in Gaza, resulting in significant casualties and widespread destruction.
- Since 2008, Israel has conducted four major military operations in Gaza, resulting in significant casualties and widespread destruction
- The 2008 assault raised international alarm as Israel was accused of using internationally banned weaponry, including phosphorus gas
Geostrategy
Israel-Hamas conflict sparks global economic anxiety
With potential spikes in oil prices and uncertainty surrounding major projects like the IMEC, the world faces a complex economic...
- With the world grappling with economic challenges, the sudden escalation in the Middle East threatens to send oil prices skyrocketing
- Recent reports suggested that Saudi leaders were considering boosting oil production to foster better relations with Israel
Business
Masdar to invest $8bn to develop Malaysia’s clean energy transition
Abu Dhabi, UAE - Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy powerhouse will invest US$8 billion in...
- The project will include ground mounted, rooftop and floating solar power plants, onshore wind farms and battery energy storage systems
- Established in 2006, Masdar is active in more than 40 countries with a total electricity generation capacity of more than 20GW
Geostrategy
Saudi Arabia launches mechanism to advance global climate goals
RIYADH, SAUDI ARABIA - The Clean Development Mechanism Designated National Authority (CDMDNA) announced on Monday the operation of Saudi Arabia's...
- Greenhouse Gas Crediting and Offsetting Mechanism will be accessible to all entities within the Kingdom.
- This step reflects the Kingdom’s role in addressing climate challenges and enabling institutions to tackle their emissions.
World can’t ‘unplug’ existing energy system: COP28 head
Riyadh, Saudi Arabia - The president of the upcoming COP28 climate talks in Dubai called on Sunday for governments to abandon...
- Climate activists have criticized the appointment of Jaber to lead the COP28 talks which kick off in Dubai next month, given that he is also head of the oil firm ADNOC.
- But Jaber has garnered the support of COP parties including US climate envoy John Kerry, partly by emphasising his belief that "the phase-down of fossil fuels is inevitable."
Economy
In a world first, EU gives nod to green bond standards
Brussels, Belgium - European Parliament has adopted a new voluntary standard for the use of a “European Green Bond” label, the...
- The regulation, adopted by 418 votes in favour lays down uniform standards for issuers who wish to use the designation ‘European green bond’
- The standards will enable investors to direct their money more confidently towards more sustainable technologies and businesses
Science
Can chatbots be therapists? Only if you want them to be
Like every other sector that AI is threatening to disrupt, critics are concerned that bots will eventually replace human workers...
- Like every other sector that AI is threatening to disrupt, critics are concerned that bots will eventually replace human workers rather than complement them
- Users of Replika, a popular AI companion that is sometimes marketed as bringing mental health benefits, have long complained that the bot can be sex obsessed and abusive
Economy
Qatar Chamber forms two committees to develop insurance sector
Doha, Qatar - The Qatar Chamber (QC) has established two technical teams to further develop the country’s insurance sector. One...
- The committees were formed during a meeting of the chamber’s insurance committee on Saturday
- One of the committees specializes in legal and services, and another in the financial and IT fields
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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
World Bank announces plans to restart Syria operations
Washington, United States -- The World Bank on Friday said it would restart operation in Syria following a 14-year pause,...
Geostrategy
Company News
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EDGE Group, Indra form JV
Business
Sheikh Hamdan praises ADNOC’s efforts in using AI in production process
ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...
Business
Restoration project for Jeddah district’s old buildings completed
JEDDAH, SAUDI ARABIA – The Ministry of Culture, represented by the Jeddah Historic District Program, has announced the completion of...
Arts & Culture
Abu Dhabi Chamber sets up working group to support startups, SMEs
ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...
Business
Most Read
Economy
Rise in remittances hikes demand for Jordanian dinar, says chamber of commerce
AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar. Exchange...
- There are positive indicators suggesting a stabilization in Jordan’s economy.
- Presently the currency exchange sector comprises 250 firms across Jordan.
Business
Saudi Arabia weighs handing state airline Saudia over to PIF
Riyadh, Saudi Arabia - Saudi Arabia is considering transferring ownership of its national carrier, Saudia, to the sovereign wealth fund,...
- Bloomberg initially reported the discussions regarding PIF's potential acquisition of Saudia
- Currently, PIF already holds ownership of Riyadh Air, the kingdom's upcoming airline
Arts & Culture
Beyonce album highlights the Black women changing country music
Nashville, United States - "Twenty-three in Music City / With dreams and high-heeled boots / Singin' for a crowd of blue...
- The 26-year-old, who is biracial, is one of many Black female artists carving out space in country music's capital
- Megastar Beyonce's highly anticipated country album, out Friday, has cast a spotlight on efforts by Black performers to create a more inclusive Nashville