Israel defiant amid global criticism over West Bank settlement expansion
UN Middle East envoy Tor Wennesland issued a warning on Monday against changes made by the Israeli government that will...
Geostrategy
UAE, Morocco speakers of parliament discuss ways to enhance cooperation
MARRAKESH, MOROCCO - Speaker of the UAE Federal National Council (FNC) Saqr Ghobash met with Morocco Speaker of the House...
Geostrategy
Economy
AI can save trillions in energy transition
A World Economic Forum study offers a road map and practical recommendations for the energy and AI industries to maximize...
- Every 1 percent of additional efficiency in demand creates $1.3 trillion in value between 2020 and 2050 due to reduced investment needs.
- AI could achieve this by enabling greater energy efficiency and flexing demand.
Economy
Saudi Arabia’s PIF, Tadawul Group plan carbon trading platform
Companies and institutions seeking to reduce their emissions will increasingly turn to the platform to trade carbon credits
- Companies and institutions seeking to reduce their emissions will increasingly turn to the platform to trade carbon credits
- Its purpose is to align with regulatory entities to develop methods, business models, and governance practices to reduce climate change effects
Business
Saudi state media companies to move from Dubai to Riyadh
The decision follows an earlier Saudi move to stop giving state contracts to companies and commercial institutions with Middle East...
- The decision follows an earlier Saudi move to stop giving state contracts to companies and commercial institutions with Middle East headquarters in any other country
- According to reports, Al-Arabiya and Al Hadath TV channels have informed their employees that they plan to broadcast 12 hours a day from Riyadh by next January
Business
True Global Ventures closes blockchain fund at $100m
The TGV 4 Plus fund, which has been oversubscribed, focuses on blockchain firms primarily in late-stage equity funding Series B...
- TGV is funded by 40 partners who contribute 27%, along with a number of entrepreneurs, business angels, family offices and institutional investors
- Many limited partners of True Global Ventures are based in the Middle East
Economy
Leaders mull Arab Center for Food Security
The 22-member Arab League and its legislative body, the Arab Parliament, are planning to establish a food-security body.
- The organization would be expected to enhance social and economic security in the region
- It would also be expected to achieve sustainable development goals in Arab countries
New Oman mall to create 3,500 jobs
The Mall of Oman is said to be the country’s largest complex of its kind.
- The Mall of Oman has the only IMAX experience in the country
- It will soon have global cafés and restaurants that offer more than 50 dining options
LinkedIn to drop Stories format
Stories is expected to be removed from LinkedIn by September.
- In doing so, LinkedIn will follow Twitter, which earlier this year discontinued a similar experiment called Fleets
- One big way the Stories format differs from TikTok or Reels of Instagram is these short-video formats do not see the message disappearing after 24 hours
Business
Tehran able to sell oil despite US sanctions, says minister
The US imposed its harshest sanctions on Iran three years ago as Washington, under President Donald Trump, unilaterally abandoned an...
- One of the ways to do this is to swap oil for goods or investment
- This potential solution can also be used in other sectors and industries
Business
Iran cuts natural gas exports to Iraq as per a six-month agreement
The decision is said to be based on an agreement with Iraq, and apparently follows prior notification. Iran used to...
- Iran notified the Iraqi side about this reduction two weeks ago
- This export cut will continue for up to six months
Business
Israel opens Chinese-operated $1.7bn port in Haifa
The port, to be operated by Shanghai International Port Group, is expected to bring competition to a sector plagued by...
- It is expected to enable larger classes of cargo ships, carrying 18,000 containers or more, to dock in Israel
- About 99 percent of all goods move in and out of Israel over sea, and an upgrade is needed to maintain economic growth
Israel defiant amid global criticism over West Bank settlement expansion
UN Middle East envoy Tor Wennesland issued a warning on Monday against changes made by the Israeli government that will...
Geostrategy
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Saudi Arabia appoints new crypto chief to further its digital program
The kingdom is the largest economy in the Middle East, making it a key market for any firm operating in...
Business
Dubai records over US$653m in realty transactions on Monday
DUBAI, UAE - Dubai real estate market recorded 568 sales transactions worth US$373 million (AED1.37 billion) on Monday, data released...
Economy
UAE Arab world’s best paymaster
The lowest average monthly salary is paid in Sri Lanka (US$143.62) and the highest in Switzerland (US$6142.1), according to a...
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Economy
Green hydrogen production in UAE to touch 5.7m tonnes in 2030
Innovative technologies to produce green hydrogen using clean and renewable energy are witnessing rapid developments and studies indicate that green...
- The UAE aims to acquire 25 percent of the low-carbon hydrogen market which is expected to reach more than $400 billion.
- The production of green hydrogen is mainly carried out through electrolysis using renewable energy sources.
Business
Saudi rebate program discussed at Venice festival
A seminar organized at the film festival discussed the kingdom's cash rebate program, which is aimed at attracting international producers...
- The officials said there is a high level of coordination between government agencies and the private sector to build the film industry.
- Last May, the Commission launched a cash rebate program to support films with up to 40 percent of the financial refund.
Economy
Saudi Arabian government body launches strategy 2022-2025
The National Center for Government Resources Systems (NCGR) launched its comprehensive strategy (2022-2025).
- The strategy is based on four main pillars which include raising the efficiency and effectiveness of the government in managing its resources.
- It also involves maximizing benefit of NCGR's resources, superiority in providing and using data to support decision-making, excellence in risk management.