A greener globe requires a greener industry, says Chinese industry leader
Beijing, China-- A greener globe requires a greener energy industry, which could definitely be represented by new quality productive forces...
Economy
Saudi tech show LEAP 2024 to close on ‘record-breaking’ note
Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing...
Business
Economy
UAE’s ERC unveils housing project for victims of February quake in Syria
Latakia, Syria--The Emirates Red Crescent (ERC) has inaugurated the Al Naqa housing project in the Latakia Governorate in Syria. The...
- In April the ERC had announced its intention to build 1,000 prefabricated housing units in seven areas in the Latakia Governorate for the victims of earthquake
- The governor of Latakia, Amer Hilal, expressed his gratitdue to the UAE for implementing relief projects in Syria since the early days of the earthquake
Geostrategy
Iran-China bilateral relations moving forward in right direction: FM
Tehran, Iran--Iran-China bilateral relations and the 25-year strategic cooperation program between the two countries are moving forward in the right...
- The two foreign ministers discussed the latest developments in bilateral relations between the two countries in a telephone conversation
- The Iranian FM also gave his assessment on the comprehensive 25-year cooperation and how it was progressing in the right direction
Economy
Indonesia president to participate in BRICS summit in South Africa
Jakarta, Indonesia--Indonesian President Joko Widodo departed for South Africa on Sunday to attend the BRICS summit in Johannesburg amid speculation that...
- Before leaving for the BRICS summit, Widodo told reporters that apart from attending the event he will also meet with other world leaders
- Launched in 2009, BRICS aims to tame Western economic domination in global affairs, much to the consternation of the Western political leadership
Economy
Iran-China cooperation at its best in various fields: envoy
Tehran, Iran-- China's ambassador to Iran has affirmed that his country's cooperation with Iran is at its best in various...
- The Chinese ambassador said there were many opportunities for cooperation with west Azarbaijan province in the areas of international trade with Europe
- He noted that a document has been signed to boost China's trade with Europe via Iran, noting that the capacities of west Azarbaijan can be used in this regard
Economy
Saudi Arabia and Kazakhstan to boost environment, agriculture ties
Astana, Kazakhstan-- Saudi Arabia and Kazakhstan have pledged to strengthen cooperation in the fields environment, water, and agriculture. The strengthening...
- The discussion happened during a meeting between President of Kazakhstan and Saudi Arabia's Minister of Environment, Water and Agriculture in Astana
- Both leaders explored opportunities to boost trade in agricultural products, and discussed issues concerning environment, water and food security
Economy
Oil prices inch up 1% on signs of slow US output, posts first loss in 8 weeks
Dubai, UAE--Oil prices jumped about 1% on Friday on signs of slowing U.S. output, but both crude benchmarks also ended...
- After industry data showed that the US oil and natural gas rig count fell for the sixth week in a row, both benchmarks pushed higher on Friday
- A worsening property crisis in China added to concerns about the country sluggish economic recovery as oil prices dropped about 2 percent from last week
Business
UAE’s investments in Ethiopia touch US$2.9bn as non-oil trade expands
Abu Dhabi, UAE-- As the UAE President Sheikh Mohamed bin Zayed visits Ethiopia to strengthen relations with the African country,...
- According to Dr. Thani bin Ahmed Al Zeyoudi, the investments encompass four key sectors: chemicals, food and beverages, aluminum and pharmaceuticals
- He said the country's re-exports to Ethiopia climbed 8.6 percent year-on-year to $553.3 million in 2022, continuing a strong upward trend since 2018
Science
Saudi CST urges public for feedback on ‘space use plan’ for frequency spectrum
Riyadh, Saudi Arabia--The Communications, Space and Technology Commission (CST) has urged the public to provide their views on its space...
- It has given all "interested parties" in the kingdom and outside a time until September 10 next month to provide views and observations
- Early this year, CST announced the formation of a Space Entrepreneurship Alliance to achieve growth and sustainability in the sector
Geostrategy
UAE president and Ethiopia PM pledge to boost relations
The two leaders met in Addis Ababa and held talks on various aspects of bilateral relations, in addition to broader...
- They also discussed regional and international developments and exchanged views on issues of shared concern
- Sheikh Mohamed applauded Ethiopia's commitment to advancing renewable energy to attain climate neutrality
Economy
Saudi economic support vital for progress in various sectors: Yemen PM
Aden, Yemen--Yemeni Prime Minister Maeen Abdulmalik affirmed that the economic support Saudi Arabia provides to Yemen represents a vital factor...
- The prime minister said during a cabinet meeting the kingdom's support strengthens the Yemeni government's effort to achieve economic stability
- The kingdom early this month endorsed a $1.2 billion grant to Yemen’s internationally recognized government to prop up the country’s flagging economy
A greener globe requires a greener industry, says Chinese industry leader
Beijing, China-- A greener globe requires a greener energy industry, which could definitely be represented by new quality productive forces...
Economy
Company News
Latest News
Oman Investment Authority launches fund worth US$5.19 billion
Muscat, Oman--The Oman Investment Authority (OIA) has unveiled a new fund called “Future Fund Oman” valued at US$5.19 billion. The...
Business
China’s economy to grow steadily in 2024, say analysts
Beijing, China--China's economy is likely to pick up the pace and grow steadily in 2024 after a bumpy recovery last...
Economy
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World Economic Forum
World Economic Forum foresees ‘significant economic slowdown’
Davos, Switzerland--A new World Economic Forum report titled the Future of Growth Report 2024 foresees a significant economic slowdown, estimated...
- The WEF report offers a re-evaluation of global economic growth, introducing a new framework that takes a holistic look at GDP
- The report adds that high income economies in 2023 saw average annual GDP per capita growth of 1.01% over the past five years
Business
Qatar Islamic Bank profit up
It posted a 7.5% jump in net profit to US$1.18bn last year.
- The bank's basic earnings per share for the year 2023 are QAR 1.73 compared to QAR 1.62 for 2022
- Its board of directors proposed a dividend distribution to shareholders of QAR 0.725 per share
Economy
CBUAE balance sheet touches US$182 billion in November 2023
Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to $182.43 billion at...
- The UAE central bank's balance sheet maintained a steady 21.2% growth rate throughout the first eleven months of 2023
- According to the CBUAE, investments and deposits also played a huge role, totaling $56.63 billion and $26.53 billion respectively