Saudi Industrial Production Index climbs up in January 2024
Riyadh, Saudi Arabia--The Saudi Industrial Production Index (IPI) recorded 103.3 points in January 2024, compared to 103 points in December...
Economy
UAE banking sector looks poised for continued growth in 2024
Abu Dhabi, UAE--The UAE banking sector continued its growth momentum last year and is poised for further growth and recovery...
Economy
Geostrategy
Public defies world leaders, rallies to back Palestinians
Global outcry mounts as thousands protest in the US, UK, France, and Germany, defying their governments' support for Israeli aggression...
- Condemning US President Joe Biden for his support of Israel, thousands of protesters in the US capital Washington called for a ceasefire in Gaza
- Thousands marched in solidarity with Palestinians in Paris, where slogans were heard calling for a boycott of Israel along with shouts of "Israel terrorist state"
Business
PureHealth partners with Dell to use AI in disease detection, data analysis
Abu Dhabi, UAE--PureHealth has joined hands with Dell Technologies to utilise generative artificial intelligence (AI) across healthcare services including in...
- The cooperation will take advantage of the collective resources and technologies of both companies to improve health outcomes by ensuring access to medical solutions
- The global AI healthcare market was valued at $11 billion in 2021 and is projected to expand to have a market size of $187 billion market size by 2030
Geostrategy
Israel Foreign Ministry denies relations with Bahrain cut off
Dubai, UAE-- A day after Bahrain's parliament announced that its ambassador to Israel is being recalled, the Jewish state said...
- Israel has not received any “announcement or decision from the Bahraini government, according to its Foreign Ministry
- Bahrain said on Thursday that the Israeli ambassador had left Bahrain, while its ambassador has been recalled from Israel
Economy
ADIB publishes ‘sustainable finance framework’ establishing criteria for borrowing
Abu Dhabi, UAE--Abu Dhabi Islamic Bank (ADIB) has published "Sustainable Finance Framework" establishing criteria and eligibility requirements that determine which...
- The bank's framework will determine the eligibility of projects for it to finance or refinance, including the issuance of green, social and sustainability sukuks.
- ADIB will give priority to projects with environmental benefits across renewable energy, energy efficiency, green buildings, pollution prevention and control
Business
DEWA discusses cooperation in renewable energy with German delegation
Dubai, UAE-- Dubai Electricity and Water Authority (DEWA) has held discussions with a delegation from Germany on how to boost...
- DEWA's CEO emphasized the importance of strengthening strategic cooperation with German enterprises in water, renewable, and clean energy
- The delegation applauded the UAE's leading role in dealing with climate change and promoting a sustainable, safe, and healthy environment
Business
Iran ramps up oil production to 3.4m bpd, up from 2.9m bpd
Tehran, Iran-- Iran has ramped up its oil production to 3.4 million barrels per day (bpd), up from about 2.9...
- Iran's oil minister said the boost in the production is in line with measures taken by the current government of the Islamic republic
- According to officials in the oil sector, about 40,000 bpd have been added to the country’s oil production from the Sepehr and Jafir oilfields
Economy
Gulf central banks mimic US Fed, maintain interest rates
The UAE's central bank has kept its Base Rate for the Overnight Deposit Facility (ODF) unchanged at 5.40 percent. It...
- Federal Reserve's decision to hold interest rates comes amid concerns of persistent inflation
- The CBUAE and QCB's decision underscores the link between global and regional monetary policies
Geostrategy
UAE and Jordan sign MoU to boost investment cooperation
Abu Dhabi, UAE--The UAE and Jordan have signed a memorandum of understanding (MoU) to create a framework for investment cooperation...
- ADQ has entered into a strategic partnership agreement to create a joint investment fund with Jordan Investment Fund
- The agreement will enable the UAE and Jordan to explore opportunities to boost bilateral investments and enhance both nations’ GDP
Geostrategy
Bahrain and UK discuss boosting trade, investment ties
London, UK-- Bahrain and the UK have discussed way to boost bilateral cooperation in trade, investment and economic fields between...
- The foreign minister of Bahrain is on a visit to London to attend the first strategic dialogue between the two countries
- The two ministers then co-chaired the meeting of the Bahrain-UK joint committee, attended by representatives of the two countries
Business
Al Hilal ranks among world’s 50 wealthiest clubs
European clubs owned by Arabs continue to dominate the rankings, with Sheikh Mansour bin Zayed-owned Manchester City standing at the...
- Paris Saint-Germain, owned by Qatar Sports Investments, came in third with a market value of US$1.14 billion
- Newcastle United, owned by Public Investment Fund, is at 11th spot with a market value of $687.57 million
Saudi Industrial Production Index climbs up in January 2024
Riyadh, Saudi Arabia--The Saudi Industrial Production Index (IPI) recorded 103.3 points in January 2024, compared to 103 points in December...
Economy
Company News
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KEZAD to build new warehouses
Business
WSG has ushered in a new decade of positive impact: Hamid Al Zaabi
Dubai, UAE-- The World Governments Summit (WGS) has ushered in a new decade of positive impact, inspiring governments and societies...
Business
India PM inaugurates grand temple in Abu Dhabi
According to the UAE authorities, the grand temple carved from pink stone spreads over an area of 55,000 square metres...
Geostrategy
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Geostrategy
Qatar’s ties with Iran closer than ever: Sheikh Tamim bin Hamad
Doha, Qatar-- Qatar's Emir Sheikh Tamim bin Hamad Al Thani has affirmed that the ties between Qatar and Iran have...
- The Iranian foreign minister stressed for the need to implement agreements reached between the two countries in order to further strengthen the ties
- Qatar's leader applauded the Iranian effort to support Palestine and its pursuit of a political solution to bring to an end the war and suffering of the people in Gaza
Economy
UAE residents plead for lifestyle changes to save planet
Dubai, UAE-- As many as 81% of people in the UAE say that they owe it to future generations to...
- Nearly 80% of the respondents in the survey agreed that the time has come to transition from “preventing further damage” to “reversing damage already done”
- As many as 88% believe brands must take responsibility for helping to safeguard the future of the people and planet as they can’t make the world a better place on their own
Arts & Culture
Archaeological sites discovered in Southern Saudi Arabia
ABHA, SAUDI ARABIA - The Heritage Commission announced its most prominent discovery in Jurash, Asir region, as one of the...
- These were the result of strenuous excavations that took place in 2023.
- Residential units whose walls were built with stones and clay were revealed.