Star-studded Al-Hilal defense highlights Saudi club’s rise
Miami, United States -- The main appeal of the Club World Cup so far has been the chance to see...
Arts & Culture
Yemen’s Huthi rebels say fired missile at Israel
Yemen's Iran-backed Huthi rebels said they fired a ballistic missile towards Israel on Saturday, in response to Israel's conduct towards...
Geostrategy
Business
DFM Company posts Dh 27.5m net profit in Q1 2022
The Company’s total consolidated revenue has increased by 7 percent to AED 78.6 million in Q1 of 2022 compared to...
- The Company’s total consolidated revenue has increased by 7 percent to AED 78.6 million in Q1 of 2022 compared to AED 73.4 million during Q1 of 2021.
- The revenues are comprised of AED 55.9 million of operating income and AED 22.7 million of investments returns and others
Economy
10 football pitches of pristine rainforest lost per minute in 2021
Huge swathes of tropical rainforest were burned or hacked down for cattle and crops last year, led by destruction in...
- Researchers calculated that the loss of tropical primary forest in 2021 resulted in the release of 2.5 gigatonnes of carbon dioxide into the atmosphere
- Over 40 percent of the total tropical primary forest lost in 2021 was in Brazil, where some 1.5 million hectares was cut down or went up in smoke
Economy
Indonesia suspends all exports of palm oil
Indonesia began imposing a complete ban on palm oil exports Thursday, as the world's largest producer of the commodity risked...
- Authorities in Southeast Asia's most populous country fear the scarcity and rising costs could provoke social tensions
- The embargo would include all exports of the oilseed and not only products intended for edible oils
Business
Apple Q2 profits rise 5.8%
However, it warned of a $4-8bn hit from Covid and supply chain woes.
- The iPhone-maker enjoyed another solid performance for the period ending March 26, registering record revenues for the quarter
- However, executives said the difficulties of the pandemic have returned with a vengeance since the reporting period ended
Business
Could movie theaters help stave Netflix decline?
With box offices bouncing back from the Covid-19 pandemic, and Netflix stock plummeting after its first loss of subscribers in...
- Releasing films on big screens before offering them to subscribers would have seemed anathema to Netflix's successful business model
- It is this model that has already sent the likes of Disney and Warner scrambling to catch up in the so-called streaming wars
Geostrategy
Tunisia must address democracy concerns for aid, says US
“At the very least,’ Tunisia needs to go ahead with parliamentary elections promised by the end of the year, a...
- Tunisia has been seeking a loan package from the IMF, in which the US is the largest stakeholder
- The country is currently coping with an economic crisis aggravated by the Covid-19 pandemic
Geostrategy
Saudi-led coalition to free 163 Yemen rebels for Eid
The move came after a Houthi official called this week for both sides to release 200 prisoners before the coming...
- The Houthis took over Sanaa in 2014, prompting the Saudi-led military intervention to support the government the following year
- This effectively ignited a war that has caused what the United Nations has called the world's worst humanitarian crisis
Geostrategy
Lebanon running out of passport stocks
Authorities concerned say that since 2020, requests for passport renewals have been ten times higher than in previous years.
- Grappling with its worst-ever financial crisis, Lebanon has undergone a massive population exodus that is only worsening as politicians fail to chart a path towards recovery.
- According to an Arab Barometer survey published this month, around half of Lebanon's population is looking to exit the country.
Geostrategy
Erdogan tells Putin ‘ready to do more’ to end Ukraine war
Turkish President Recep Tayyip Erdogan told Russia's Vladimir Putin on Thursday that Ankara was ready to do more to end...
- Erdogan's office said that Putin "thanked" the Turkish leader for helping arrange the exchange of ex-Marine Trevor Reed for the former Russian pilot Konstantin Yaroshenko
- Turkey hosted a meeting between Russian and Ukrainian negotiators in Istanbul and another between Lavrov and Ukrainian counterpart Dmytro Kuleba in Antalya last month
Business
Unilever posts rise in revenue
The British firm reported $14.5bn revenue in Q1.
- Unilever said in a trading statement that its higher prices had turned off some customers, with volume of sales down one percent
- Inflation, which was accelerating sharply as economies reopened from Covid lockdowns, has worsened following Russia's invasion of Ukraine
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
Star-studded Al-Hilal defense highlights Saudi club’s rise
Miami, United States -- The main appeal of the Club World Cup so far has been the chance to see...
Arts & Culture
Company News
Latest News
Nissan plans self-driving taxi service in Japan
It has been testing self-driving mobility services since 2017.
Business
US envoy blames Iran, Hizbollah for aiding Houthi attacks
The US special envoy for Yemen, Tim Lenderking, told a Senate subcommittee that Iran was "equipping and facilitating" the Huthi...
Geostrategy
Qatar says hopeful for Gaza truce before month of Ramadan
Doha, Qatar - Qatar is "hopeful" of a Gaza war ceasefire and is pushing for an agreement before Ramadan, its foreign...
Geostrategy
Most Read
Business
Oil spills disrupt farming activities in drought-hit Iraq
Oil spills in Iraq -- a country ravaged by decades of conflict, corruption and decaying infrastructure -- have contaminated farmland...
- Amid the hills of Salaheddin province, puddles of the viscous black liquid pollute the otherwise fertile and green fields, rendering vast swathes of farmland barren
- "The oil has damaged all that the land can give," said one farmer, Abdel Majid Said, 62, who owns six hectares (15 acres) in the village of Al-Meaibdi
Business
Chevron $53bn Hess deal in danger
Rivals' challenge to the control of a key oil asset can derail the acquisition.
- The issue concerns Hess's 30 percent stake in the Stabroek Block offshore Guyana, a mammoth oilfield that was a driver of the takeover.
- Stabroek is operated by US giant ExxonMobil, which has a 45 percent stake. Chinese company Cnooc holds the remaining 25 percent of the project.
Geostrategy
WTO approves services trade rules, overcoming objections
The set of rules will streamline authorization requirements and ease procedural hurdles faced by businesses, according to a press release....
- Its integration into the WTO implies all 164 members have approved as per the body's rules which require full consensus.
- Ministers' negotiations also focused on fisheries and agriculture, but progress could be made on a new global agreement on fisheries subsidies.