Trump warns countries helping Iran of ‘tremendous economic consequences’
Tehran dismissed Washington’s latest pressure campaign as a diversion from US economic troubles as shipping through Hormuz remained severely restricted.
Geostrategy
Geostrategy
Erdogan seeks foreign investment on Gulf tour, begins with Saudi Arabia
Turkish President Recep Tayyip Erdogan has embarked on a three-state Gulf tour, beginning with Saudi Arabia, as he seeks to...
- Nine MoUs -- covering energy, real estate, education, and more -- were signed at the Saudi-Turkish business forum
- Turkish government aims to increase its trade volume with Gulf countries, which currently stands at $22 billion
Business
ADNOC in talks with OMV
Talk merger of shareholdings in Borouge, Borealis.
- Borouge is listed on the ADX with 54 percent owned by ADNOC.
- Borealis is owned 75 percent by OMV with ADNOC holding 25 percent.
Business
60 percent of Jordan’s consumption contains plastic, rubber, says JCI
AMMAN, JORDAN - Plastic and rubber products cover 59.7 percent of the Kingdom's domestic consumption, a report by the Jordan...
- The report indicated that plastic and rubber products are well-established industries in Jordan.
- According to the report, the sector has 641 establishments geographically spread across the Kingdom.
Geostrategy
GCC countries, Russia sign five-year joint action plan
The GCC countries and Russia have adopted a joint statement and a joint action plan for 2023-2028 following their meeting,...
- Russia and the GCC countries, traditional US allies, sign a five-year cooperation agreement in a major policy shift
- Arab countries are increasingly cosying up to the US archrivals such as China and Russia
Business
KEZAD Group, GFCF ink deal
GFCF will triple its production after setting up its Phase II in Musasafah.
- Four more chemical products will be added to GFCF's product mix with the opening of the second phase of the factory.
- GFCF's processes minimize water waste, and the production unit will incorporate heat recycling, aligning with KEZAD Group's sustainability goals.
Science
Dubai Solar event to focus on research in clean energy
DUBAI, UAE- Dubai Electricity and Water Authority (DEWA) said the MENA Solar Conference (MENA-SC) which it organizes from November 15-18...
- Prominent experts, specialists and researchers worldwide will highlight the latest developments, technologies and scientific research in solar power.
- The four-day conference will discuss various scientific research in the solar energy sector to accelerate the transition towards renewable and clean energy.
Business
Saudia raises seat capacity by 10%
The number of domestic, international flights will rise.
- This would be a 10 percent increase in the number of seats on a year-on-year (YoY) basis, the airlines said in a statement.
- Saudi Arabian Airlines said that more than 4.2 million seats would be added to international flights.
Business
Iraq, GECF discuss role of oil, gas in country’s development
BAGHDAD, IRAQ -Â Secretary General of the Gas Exporting Countries Forum (GECF) Mohammed Hamel on Friday stressed the importance of...
- The two discussed the oil and gas sector and stressed on the importance of supporting gas and renewable energy investment projects.
- The two leaders discussed on the development of the oil and gas sector in Iraq and its role in the country's economy.
Arts & Culture
UAE to host two new international falconry events in Dec
Dubai, UAE - The International Federation for Falconry Sports and Racing (IFFSR) announced it will host the inaugural editions of...
- The first edition of the Cup, set to take place over a 400-metre distance, will feature the participation of members of the International Federation for Falconry Sports and Racing.
- The inaugural edition of the International Forum for Falconry Sports and Racing will focus on reviewing practical, scientific and field experiences related to falcons and the sport
Business
Gas export to Europe continues via Greenstream pipeline : Libya
Vienna, Austria - Mohamed Aoun, Libyan Minister of Oil and Gas, has said that Libya is continuing its gas export...
- Libya developed a short-term strategic plan for the oil and gas sector, aimed at raising its oil production to two million barrels per day (bpd), said its energy minister.
- Libyan National Oil Corporation's plan to overcome obstacles in the oil and gas sector includes restructuring the sector, he said.
Company News
2PointZero posts profit surge
Business
Latest News
TECOM profit climbs
Business
Saudi Arabia rises to 13th in global competitiveness rankings
The Kingdom ranked 13th out of 70 economies assessed in the annual report, improving from 17th place a year earlier...
Economy
Trump, Iran president sign framework accord to end conflict, launch nuclear talks
The accord, signed electronically by both leaders, is intended to serve as a framework for a broader settlement rather than...
Geostrategy
Abu Dhabi climbs global startup rankings on AI and tech growth
The emirate was ranked in the #41-50 category globally, improving from the #51-60 range a year earlier and marking one...
Business
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Business
Gold extends winning streak as oil and dollar weaken
The U.S. Dollar Index fell to 99.53, giving back part of the gains it had recently recorded on safe-haven demand....
- Other precious metals also moved higher. Spot silver gained 0.3% to $70.38 an ounce, platinum rose 0.5% to $1,812.80, and palladium added 0.3% to $1,355.65.
- Brent crude futures fell 16 cents, or 0.2%, to $78.80 a barrel by 0340 GMT, while U.S. West Texas Intermediate crude slipped 25 cents, or 0.3%, to $75.80 a barrel.
Geostrategy
Iranian tankers leave blockade zone as US-Iran deal moves toward signing
Iranian crude exports resumed ahead of a planned US-Iran signing ceremony, even as disputes over Lebanon, shipping rules and implementation...
- Shipping trackers reported three Iranian tankers carrying about 4.8 million barrels crossed the US blockade perimeter.
- Trump criticised Israeli strikes in Lebanon while Tehran linked future negotiations to an Israeli military withdrawal.
Geostrategy
Oil prices fall to lowest levels since March on Hormuz opening expactations
Questions over shipping fees, sanctions relief and regional security persisted even as negotiators prepared for a formal signing ceremony in...
- Iran says implementation begins after Friday's signing, while Washington signals parts of the agreement could be released earlier.
- Hezbollah says Tehran will seek Israeli withdrawal from Lebanon during subsequent negotiations with the United States.