Boeing to plead guilty to criminal fraud charge stemming from 737 Max crashes
Boeing agreed to plead guilty to a criminal fraud charge tied to the fatal 737 Max crashes, the Justice Department...
Business
Saudi Arabia launches ‘National Semiconductor Hub’
At least 50 semiconductor design companies will be established in Saudi Arabia by 2030 after a new initiative was launched to develop...
Economy
Geostrategy
King Abdullah calls on UN, world to provide aid for refugees
King Abdullah of Jordan met with the UN High Commissioner for Refugees Filippo Grandi at Al-Husseiniya Palace to discuss how...
- King Abdullah addressed global food security, and the international community’s obligation toward nations hosting millions of refugees
- Grandi said the UN agency would continue to support the Kingdom’s efforts, and encourage the international community to assist host countries facing increasing economic challenges
Analysis
US Fed Reserve may remain hawkish in coming months
Despite the recent slowdown, the US economy remains robust, which allows for more aggressive monetary policy tightening. The US consumer...
- The US Federal Reserve will lean "hawkish," raising rates by 75 bps in September and 50 bps both in November and December, before a final 25 bps hike in early 2023
- Despite the recent slowdown, the US economy remains robust, which allows for more aggressive monetary policy tightening, Qatar National Bank says in its weekly report
Economy
Saudi Arabia launches three new iron and steel projects
An integrated iron sheet production complex with a capacity of 1.2 million tonnes per year is one of the projects.
- An integrated iron sheet production complex with a capacity of 1.2 million tonnes per year is one of the projects
- A factory will also be established to produce circular iron blocks with an estimated production capacity of one million tonnes per year
Business
UAE treasury bonds post “exceptional” bidding results
The fourth auction, which witnessed the first issuance of five-year T-Bonds saw a strong demand through the six primary bank...
- Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, stated that the new five-year T-Bonds will contribute to strengthening the local debt capital market
- In May 2022, the UAE issued the dirham denominated T-Bonds of the UAE Government (T-Bonds), in two and three year tenures.
Business
Work on world’s largest waste-to-energy project nearly completed
Dubai, UAE - Dubai Municipality said Monday 85 percent of of Dubai Waste Management Centre (DMWC), world’s largest waste-to-energy project,...
- Once fully operational, the plant’s renewable energy, generated from treating waste, will feed the local electricity grid with 215MWh of clean energy.
- Located in Dubai’s Al Warsan, the project will convert 45 percent of the emirate’s municipal waste into renewable energy.
Infographics
UAE solar energy leader in Arab world
Arab countries are constructing solar and wind energy plants with a total capacity of 73.4 gigatons, which is nearly five...
- Renewable energy generation projects in the Arab countries will reach nearly 92 percent of the region's total targets by 2030.
- More than 12 gigatons of wind and solar energy are currently produced in the Arab region, the report said.
Business
Abu Dhabi industrial sector registers 136 new licenses in H1
Abu Dhabi, UAE-- The registration of 136 new industrial licenses in the first half of 2022 points to a strong growth...
- The number of licenses transitioning to the construction phase reached 62, with the number of licenses having moved from under-construction to in-production reaching 44 factories.
- The total value of Capital Expenditures (CAPEX) of industrial establishments that switched to in-production stage rose to AED 3.1 billion compared to AED 1.03 billion in H1 2021.
Science
IAEA approves operational safety at Barakah Nuclear Power Plant
An International Atomic Energy Agency team of experts said the UAE's Barakah Nuclear Power Plant (NPP) had strengthened operational safety...
- The Operational Safety Review Team had concluded a five-day follow up mission to the Barakah NPP.
- OSART missions aim to improve operational safety by independently assessing safety performance against the IAEA’s safety standards.
Science
UAE issues updated second NDC to reduce emission
The UAE Cabinet, headed by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved...
- The new document outlines the country’s increased climate target of reducing greenhouse gas emissions by 31 percent.
- The reduction target translates into an absolute emission avoidance of 93.2 million metric tonnes of CO2e.
Economy
Qatar private sector exports up 21 percent in second quarter: Chamber
Qatar’s private sector exports during the second quarter of 2022 amounted to QAR 8.92 billion ($2.44 billion), a 21 percent...
- On a quarterly basis, it also surged 15.4 percent compared to QR 7.73 billion in Q1-2022.
- The report attributed the surge to the private sector’s ability to adapt to normal and abnormal economic conditions and to achieve rising growth rates.
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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
Boeing to plead guilty to criminal fraud charge stemming from 737 Max crashes
Boeing agreed to plead guilty to a criminal fraud charge tied to the fatal 737 Max crashes, the Justice Department...
Business
Company News
Latest News
Sharjah Consultative Council approves heritage policy
Arts & Culture
Yahsat 2022 revenue up 6%
Business
Economists convened by COP28 lay out steps to reform global climate finance
ABU DHABI, UAE - A two-day meeting of world leading economists and finance leaders convened by the COP28 Presidency has...
Economy
Caspian Sea water levels hit 30-year low
Estimates reveal a 9-meter decline in Caspian Sea water levels, shrinking the area by 24 percent, as the northern half...
Geostrategy
Most Read
Geostrategy
International Military Forum Army-2023 opens in Moscow
MOSCOW, RUSSIA - The international military-technical forum Army-2023 opens at the Patriot Congress and Exhibition Center here. About 1,500 prominent...
- About 1,500 prominent Russian companies of the military-industrial complex will present their products.
- 85 foreign companies and organizations from seven countries will also participate in the forum.
Geostrategy
Syria claims US responsible for military escalation in country
BEIRUT, LEBANON – The US is responsible for the military escalation in eastern Syria, where terrorist groups such as the...
- Syria pledged to continue its operations against terrorists until the threat is fully eliminated.
- At least 33 Syrian servicemen were killed on August 10 when a bus they were travelling in was ambushed near Al Mayadin city.
Geostrategy
Saudi Arabia, France vow to promote secure, affordable and sustainable energy
RIYADH, SAUDI ARABIA – Prince Abdulaziz bin Salman and Agnes Pannier-Runacher, Minister for Energy Transition of the French Republic met...
- Addressing climate change, promoting secure, reliable, affordable, sustainable supplies of energy are shared strategic priorities of Saudi Arabia and France.
- Both countries acknowledge the importance of implementation of the United Nations Framework on Climate Change and the Paris Agreement.