China’s robot makers chase Tesla to deliver humanoid workers
Beijing, China - China dominates the market for electric vehicles. Now it's chasing in the race to build battery-powered humanoids...
Business
GCC tourism’s contribution to GDP expected to surge by 2030: Fitch
GCC tourism's GDP contribution will rise from $130 billion in 2023 to over $340 billion by 2030, driven by aviation...
Geostrategy
Arab world to be center for global change in 2024, says Russian intelligence chief
MOSCOW, RUSSIA - The chief of Russia’s foreign intelligence service, or SVR, believes the Arab world will take center stage...
- The Russian official said that the change has manifested itself in strong, sovereign leaders coming to power in a number of Arab countries.
- The rapid growth of anti-US and, more broadly, anti-Western sentiment in the region is one of the outcomes of this change, he said.
Business
Sidra Medicine, GlobeMed Qatar sign pact on medical services
DOHA, QATAR – Sidra Medicine and GlobeMed Qatar have signed an agreement to offer eligible insured members of payers contracted...
- The insured members contracted with GlobeMed Qatar will have access to Sidra Medicine’s women’s and pediatric medical services.
- This collaboration marks a significant step in offering insured members enriched healthcare experience in Qatar.
Business
Awaed Alosool launches Sharia compliant investment platform
RIYADH, SAUDI ARABIA - Awaed Alosool Capital announces the launch of the Awaed platform, revolutionizing investment opportunities in public listed companies....
- Awaed Alosool unveils an innovative platform dedicated to empowering individuals in Saudi Arabia with seamless access to Sharia compliant investment.
- The platform provides an intuitive interface, offering individuals the means to engage in the market irrespective of their geographical location.
Business
HPDC, HDC ink agreement
The aim is to stimulate the growth of the halal industry.
- The two companies will exchange information on industry-leading practices and successful models of halal ecosystems.
- The agreement will broaden the scope of collaboration by facilitating engagement with halal exporters and investors.
Business
ENEC, Kazatomprom ink pact
The move will ensure a secure supply of nuclear fuel.
- ENEC's global partnerships will support the continued rapid decarbonisation of the country's heavy and energy-intensive industries.
- This will create further clean energy sources while using the latest technologies and helping to deliver Net Zero by 2050.
Business
QatarEnergy announces integration of all marketing and related activities
DOHA, QATAR - QatarEnergy has announced the successful integration of all marketing and marketing-related activities formerly managed by QatarEnergy LNG....
- QatarEnergy described the integration process as a major move towards consolidating the company’s position as a global energy leader.
- The move places the company in a unique position to deliver unparalleled service and value to its customers and stakeholders.
COP28 UAE
MENA region can create 10m jobs by 2050 via climate action, says ILO
DUBAI, UAE - International Labor Organization (ILO) Deputy Regional Director for the Arab States Peter Rademaker has confirmed that the...
- The trend towards renewable energy has helped to create 13.7 million jobs in the sector worldwide.
- The ILO is participating in COP28 to ensure that climate change efforts include to monitor the impact on jobs.
Business
AD Ports, Kazakhstan Railways form venture to boost services
Abu Dhabi, UAE - AD Ports Group signed an agreement with Kazakhstan Temir Zholy JSC (Kazakhstan Railways to form a...
- The joint venture, owned 51 percent by AD Ports Group and 49 percent by KTZ, will aim to establish a dynamic regional logistics hub,
- The joint venture will be implemented in phases, with both entities collaborating to develop maritime electronic systems
COP28 UAE
Climate chaos impact on millions frames discussions at COP28
With the countless repercussions of extreme weather conditions, the planet is witnessing increasing political unrest, deaths and diseases.
- Climate extremes pushed 56.8 million people in 12 countries into acute food insecurity in 2022, according to the WFP
- Climate change is also increasing PTSD, anxiety, and depression among survivors of hurricanes, wildfires and floods
Geostrategy
UAE voted to Category-B membership in International Maritime Organization
LONDON, UK - The UAE has been re-elected to the Council of the International Maritime Organization (IMO) in the Category...
- The UAE received the highest number of votes, following comprehensive efforts and an intensive election campaign leading up to the elections.
- The country plays an active role in strengthening the national maritime sector and contributing to the growth of the global maritime industry.
China’s robot makers chase Tesla to deliver humanoid workers
Beijing, China - China dominates the market for electric vehicles. Now it's chasing in the race to build battery-powered humanoids...
Business
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e& 2023 net profit is US$2.8bn
Business
Saudi Tourism Authority, Trip.com Group sign global agreement
BERLIN, GERMANY – Saudi Tourism Authority (STA) and Trip.com Group have announced a significant global partnership, which will drive greater...
Business
UAE launches first legally established financial ombudsman unitÂ
Abu Dhabi, UAE – Sanadak, UAE's and MENA region's first legally established independent Ombudsman Unit catering to consumers of financial...
Business
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Economy
Saudi Arabia’s Purchasing Manager’s Index rises to 57.2 points in Feb
RIYADH, SAUDI ARABIA - The seasonally adjusted Riyadh Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
- The PMI is a weighted average of five indices – new orders, output, employment, suppliers’ delivery times, stocks of purchases.
- In January, the index reached its lowest level in two years, indicating a strong but weaker improvement in Saudi non-oil private sector.
Geostrategy
Saudi Arabia to imprison, fine people for helping, employing illegal immigrants
RIYADH, SAUDI ARABIA – The Directorate of Public Security stressed that anyone who facilitates the entry, transfer or employment of...
- The means of transportation used for bringing illegal immigrants will be confiscated.
- The housing unit used to shelter illegal immigrants will be confiscated, as per the law.
Business
Zain KSA net profit $335m
The company's fourth-quarter net profit was $78 million.
- The telecom services provider said its revenue rose 8.9 percent year-on-year (YoY) to an all-time high of SAR 9.9 billion in 2023.
- Gross profit increased 10 percent YoY. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached SAR 2.97 billion.