US Fed expected to pause cuts again and wait for clarity on tariffs
Washington, United States -- The US Federal Reserve is widely expected to extend a recent pause in rate cuts this...
Economy
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
Geostrategy
Riyadh willing to boost oil output to facilitate normalization deal with Israel
Riyadh, Saudi Arabia - Saudi Arabia has signalled its willingness to increase oil production to earn goodwill for a historic...
- Saudi officials have reportedly informed the White House that they are open to raising oil production if crude prices remain high, the WSJ reported
- Saudi Arabia's offer to increase oil production in 2024 represents a shift from its stance last year when it rejected a US request to raise production to lower oil price
Research
Most Arab youth against normalization with Israel, more so Palestinians: survey
Dubai, UAE - The majority of Arab youth are against the normalization of relations with Israel, with Palestinians and Iraqis...
- The normalization is opposed by the 98% of youth in Saudi Arabia, the biggest Arab power which is currently engaged in talks to normalize relations with Israel
- Other Arab countries with most opposition among youth to any normalization with Israel include Libya (98%) followed by Sudan (97%), Jordan (97%), Kuwait (86%) and others
RIP Stoneman Willie: US mummy to be buried after 128 years
The corpse has eerily laid in an open casket for almost his entire stay at the funeral home.
- The corpse has eerily laid in an open casket for almost his entire stay at the funeral home
- His leathery skin and smooth sunken facial features have been the object of fascination for thousands
Economy
UAE as hub will help food security corridor under I2U2 framework: Indian minister
Abu Dhabi, UAE - The UAE as a geographical and business hub will help the proposed ‘food security corridor project...
- The UAE as a trading hub can cater to the GCC, CIS countries [former Soviet Republics], eastern Europe and all of Africa, Piyush Goyal said
- Food corridor will get large economies of scale and will contribute not only to global food security but also help keep the food prices in check., he added
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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
US Fed expected to pause cuts again and wait for clarity on tariffs
Washington, United States -- The US Federal Reserve is widely expected to extend a recent pause in rate cuts this...
Economy
Company News
EDGE Group, Indra form JV
Business
Latest News
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...
Economy
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,...
Business
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...
Arts & Culture
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Arts & Culture
Saudi RCU begins rock excavation for Sharaan Resort in AlUla
ALULA, SAUDI ARABIA – The Royal Commission for AlUla (RCU) has marked a significant milestone in the development of the...
- The initial excavation symbolizes the start of a mission that combines Jean Nouvel’s architectural innovation with Bouygues' engineering expertise.
- This milestone is an important step forward in AlUla's evolution into a premier destination for sustainable luxury tourism.
Arts & Culture
Hotel Dar Tantora is inspired by Saudi’s AlUla ancient mudbrick buildings
ALULA, SAUDI ARABIA – Situated in the heart of Old Town here, Dar Tantora Hotel offers guests a chance to...
- AlUla’s Old Town, with its origins going back over 700 years, prospered along the renowned incense trade route.
- With over 900 traditional mudbrick homes, the Old Town stands as a testament to the Kingdom’s enduring cultural heritage.
Business
Aramco CEO highlights collaboration with Beijing at forum in China
AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...
- The CEO acknowledged China's economic growth in recent decades, and expressed admiration for the country’s ability to overcome challenges.
- He underscored the possibility of fostering broader economic globalization by strengthening ties with Chinese partners.