China’s Xi in Kazakhstan to cement Central Asia ties
Astana, Kazakhstan - Chinese President Xi Jinping will meet Central Asian leaders at a summit in Kazakhstan on Tuesday, his...
Geostrategy
Oil prices drop, stocks climb as Iran-Israel war fears ease
Israel's surprise strike against Iranian military and nuclear sites on Friday -- killing top commanders and scientists -- sent crude prices...
Business
Saudi Arabia fills ‘exposed wells’ after Moroccan boy’s death
Saudi Arabia has said it filled and fortified thousands of abandoned wells across the country, after the tragic death of...
- On Monday, hundreds stood to mourn in a cemetery in the remote forested hills of the Chefchaouen region of Morocco, a few kilometers from the site of the accident
- Saudi Arabia's ministry of environment, water and agriculture said on Sunday: "To ensure everyone's safety... the ministry was able to fill in and fortify 2,450 abandoned wells
Science
An implant that puts life back into immobile legs
In 2017, Michel Roccati was in a motorbike accident that left his lower body completely paralyzed. In 2020, he walked...
- The implant sends electrical pulses to his muscles, mimicking the action of the brain, and could one day help people with severe spinal injuries stand, walk and exercise
- The idea of using electrical pulses to address paralysis stemmed from technology used to regulate pain, and the researchers said they see scope for further applications
Geostrategy
Israel PM vows action as police Pegasus spying scandal widens
The latest bombshell from business daily Calcalist alleged that Pegasus was used against a son of former premier Benjamin Netanyahu...
- Calcalist had previously reported that the controversial malware was used by police against leaders of an anti-Netanyahu protest movement.
- Pegasus is at the center of a months-long international scandal following revelations that it was used by governments worldwide to spy on activists, politicians, journalists.
Geostrategy
Libya searches for a candidate to replace interim PM
Libya's parliament on Monday began hearings of hopefuls to replace interim prime minister Abdulhamid Dbeibah, a process that could spark...
- Dbeibah's government took power a year ago with a mandate to lead Libya to December elections aimed at dragging the country out of a decade of conflict
- Libya has seen a decade of conflict since the 2011 revolt that toppled dictator Moamer Kadhafi, leaving a patchwork of militias vying for control over an oil-rich country
Science
Air pollution costs MENA $141bn per year: World Bank
Air pollution costs the Middle East and North Africa $141 billion per year, or around 2% of GDP on average,...
- Environmental pollution will cost some nations in the region including Egypt, Lebanon and Yemen more than 3% of their GDP
- The report singled out "low environmental standards" in the transportation and industry sectors, the use of low quality fuel
Business
BP profits $7.6bn in 2021
The company aims to cut emissions by 50 percent by 2030.
- BP posted a net profit of $7.6 billion (€6.7 billion) last year
- This followed a loss after tax of $20.3 billion in 2020
Business
SoftBank Arm sale scrapped
The company plans public offering of Arm by March 2023.
- The announcement came as the telecoms firm-turned-investment giant reported a net profit of 29.0 billion yen ($251 million) in the third quarter
- And there have been challenges elsewhere for SoftBank, including losses on Chinese ride-hailing giant Didi Chuxing
Economy
Tunisia police blockade dissolved judicial watchdog
Saied has pushed the country down a dangerous route back towards autocracy, says critics.
- Tunisian police blocked access to the country's top judicial watchdog in a move its chief slammed as "illegal", two days after President Kais Saied dissolved the body
- Saied has vowed that he would not interfere in court cases or judicial appointments
Science
Lockheed Martin nets NASA deal
The company will make a rocket to bring back rocks from Mars.
- According to the US space agency's statement, Lockheed Martin has won a NASA contract to build the rocket which will bring the first Mars rock samples to Earth in the 2030s
- NASA will launch a plan in 2026 to send the mini-rocket to Mars, carrying another rover responsible for collecting the rock samples
Geostrategy
US says Iran nuclear deal ‘in sight’ but urgent need to finalize
Former US president Donald Trump unilaterally withdrew from the Iran nuclear deal in 2018, and reimposed tough economic sanctions on...
- The negotiations for the nuclear deal are resuming in Vienna after being halted at the end of last month
- They will be attended by China, France, Germany, Russia, United Kingdom, Iran, and the United States
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
China’s Xi in Kazakhstan to cement Central Asia ties
Astana, Kazakhstan - Chinese President Xi Jinping will meet Central Asian leaders at a summit in Kazakhstan on Tuesday, his...
Geostrategy
Company News
Aramco profits down
Business
Latest News
Saudi more than doubles tourism target by 2030, says minister
Riyadh, Saudi Arabia - Saudi Arabia drew 27 million foreign tourists in 2023 and has more than doubled its goal for...
Business
EU seeks 90 percent drop in greenhouse emission by 2040
Strasbourg, France - The EU on Tuesday urged a 90-percent cut to its greenhouse gas emissions by 2040, even as the...
Geostrategy
Hamas hands response to Gaza truce deal to Egypt and Qatar
Hamas has for more than a week mulled the deal drawn up in its absence at Paris talks, as international...
Geostrategy
Most Read
Business
Novartis to buy MorphoSys
The deal gives Novartis access to new blood cancer treatment.
- The all-cash deal will see Novartis offer 68 euros per share for the company, whose stock has soared in recent days amid speculation a deal was looming
- "With the planned acquisition of MorphoSys, we aim to further strengthen our leading pipeline and portfolio in oncology," said Shreeram Aradhye, Novartis' CMO.
Business
UBS to reward shareholders
Losses from costs of absorbing Credit Suisse narrow.
- The bank reported a net loss of $279 million in the final three months of 2023 -- far less than the nearly $500 million analysts had been bracing for
- The result followed a bigger, $785 million loss in the third quarter but for the full year, UBS bagged a net profit of $29 billion in 2023
Geostrategy
Three killed in attack outside court in Turkey, says minister
ISTANBUL, TURKEY - Turkish police on Tuesday shot dead two assailants from a leftist organization, branded "terrorists" by authorities, who attacked...
- Turkey's Interior Minister Ali Yerlikaya said the assailants were members of the Revolutionary People's Liberation Party-Front (DHKP-C).
- The group, considered a terrorist organization by the United States, has been fighting US influence in the Middle East and across the world.