Israel announces ground operations, issues ‘last warning’ to Gazans to remove Hamas from power
Israeli forces this week conducted the deadliest wave of air strikes since the start of a truce in January, killing...
Geostrategy
Turkey central bank cuts rate to 42.5% as inflation eases
Istanbul, Turkey - Turkey's central bank on Thursday lowered its key interest rate for a third consecutive time as inflation...
Economy
Geostrategy
Saudi Arabia has diplomatic, external, and military options against Iran threat: MEI
Riyadh, Saudi Arabia - Saudi Arabia has to not only enhance its defensive capabilities but also establish effective deterrence measures...
- Diplomacy, despite its imperfections stemming from differing threat perceptions and goals between Saudi Arabia and Iran, is deemed the most viable option at present
- The option of external protection involves securing official security guarantees from a foreign ally to deter potential Iranian aggression
Economy
BRICS secures 47% global oil with Saudi Arabia, UAE, Iran inclusion
Tehran, Iran - The inclusion of Saudi Arabia, the UAE, and Iran, will significantly increase BRICS’ weight in the oil...
- Together with the existing participants, Russia and Brazil, these countries jointly command 39% of the global oil exports
- BRICS will also possess nearly half of the world's total oil reserves, amounting to 719.5 billion barrels out of 1.6 trillion
Economy
DP World to invest $510m to develop mega-container terminal in India
New Delhi. India - DP World on Friday signed a concession agreement with the Deendayal Port Authority to develop, operate...
- DP World currently operates five container terminals in India – two in Mumbai, one each in Mundra, Cochin and Chennai
- With the addition of the Tuna Tekra terminal, the company will have a combined capacity of 8.19 million TEUs
Al Yahyai is president of Regional Group 7 of International Equestrian Federation
Sharjah, UAE – Sultan Mohammed Khalifa Al Yahyai has been elected president of the Regional Group 7 of the International...
- The elections were conducted virtually today where Al Yahyai won 10 votes
- Al Yahyai said his election success demonstrates the faith the world has in the UAE
Economy
Iraq and Turkmenistan reach preliminary agreement on gas import
Baghdad, Iraq - Iraq has signed a preliminary agreement with Turkmenistan to import gas. The agreement signed by the undersecretary...
- Turkmenistan is known for its status as a key gas producer regionally and globally
- The country’s natural gas reserves are estimated at 50 trillion cubic meters
Business
$73 bn in saving deposits held by UAE banks during H1 2023
Dubai, UAE - Savings deposits held by UAE banks, excluding interbank deposits, totaled approximately $73.01 billion (AED268.6 billion) by the...
- The saving deposits experienced a monthly growth rate of 5.8%, equivalent to an increase of around $4.02 billion
- The UAE Dirham accounted for the largest portion, constituting about 81.6% of the total, which is approximately $178.71 billion
Trump arrested in election case, mug shot released
Trump was given the inmate number "PO1135809" by the Fulton County Jail, which listed his height as six foot three...
- In the photograph released by the sheriff's office, he scowled at the camera while dressed in a dark blue suit, white shirt and red tie
- Speaking to reporters after his arrest, Trump, the frontrunner for the 2024 Republican presidential nomination, said it was a "very sad day for America."
Geostrategy
Iran’s BRICS membership to strengthen group, says XI
TEHRAN/ JOHANNESBURG, IRAN/ SOUTH AFRICA - The Iranian and Chinese presidents stressed the need to bolster bilateral cooperation and the...
- The BRICS heads of state held their 15th annual summit in Johannesburg.
- The heads of state called for the use of local currencies to facilitate trade.
Business
Dubai Chambers saves water, works on sustainability agenda
DUBAI, UAE - Dubai Chambers has contributed to the emirate’s drive for sustainability by saving a total of 72,239 litres...
- The savings were achieved as part of the chambers’ participation in Dubai Can, a sustainability initiative launched by the Crown Prince of Dubai.
- Dubai Can is aimed at educating and mobilising all segments of society to reduce waste and protect the environment.
Business
AI chips revenue to reach $53bn in 2023: study
Dubai, UAE – The global semiconductor industry is set to witness a significant revenue boost in the coming year, with...
- Industries spanning the spectrum and IT organizations are expected to incorporate AI chips into their systems
- Gartner analysts foresee a substantial rise in the value of AI-enabled application processors within consumer electronics
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
Israel announces ground operations, issues ‘last warning’ to Gazans to remove Hamas from power
Israeli forces this week conducted the deadliest wave of air strikes since the start of a truce in January, killing...
Geostrategy
Company News
AD Ports Group, KPT ink pact
Business
Latest News
Fraud and volatility fears persist as bitcoin barrels on
Specialized companies such as Grayscale and Wall Street giants such as asset manager BlackRock are among those investing in the...
Business
1200 year old ebony wood poles discovered at Jeddah’s Othman bin Affan Mosque site
Jeddah, Saudi Arabia - The Jeddah Historic District Program has announced the discovery of the two ebony wood poles at ...
Arts & Culture
Alicia Keys to perform at Saudi Arabian Grand Prix 2024 on March 9
Jeddah, Saudi Arabia - Jeddah is poised to host Alicia Keys, the legendary musician, singer, and multiple Grammy-award winner, at...
Arts & Culture
Most Read
Science
UAE astronauts AlMatrooshi and AlMulla graduate in space program at NASA
Dubai, UAE - The Mohammed Bin Rashid Space Centre (MBRSC) on Tuesday announced the graduation of Emirati astronauts Nora AlMatrooshi...
- The milestone marks the culmination of over two years of extensive training, which began in January 2022
- Prior to joining the NASA training program, AlMatrooshi and AlMulla underwent extensive in-house training at MBRSC
Geostrategy
BRICS to create blockchain-based payment system: Kremlin aide
Moscow, Russia – BRICS will work to create an independent payment system based on digital currencies and blockchain, Kremlin aide...
- Ushakov said that the specific task for this year is to increase the role of BRICS in the international monetary and financial system
- The BRICS group of emerging economies has welcomed 2024 by officially adding five developing nations
Geostrategy
Time to recognize the State of Palestine: Saudi foreign minister at OIC session
Jeddah, Saudi Arabia — Saudi Minister of Foreign Affairs Prince Faisal bin Farhan has emphasized the unanimous rejection of the...
- Prince Faisal was speaking at the Extraordinary Session of the Council of Foreign Ministers of the Organization of Islamic Cooperation in Jeddah on Tuesday
- The session has been convened to address the ongoing Israeli aggression against the Palestinians and to voice the OIC's opposition to the displacement of Palestine