Russia not in danger of trading oil at a loss, says Lavrov
MOSCOW, RUSSIA – Russia does not see the risk of trading oil at a loss due to the redistribution of...Business Energy Geostrategy Global
Saudi Arabia to donate US$40m for UN agency in Gaza
The funds, according to the King Salman Humanitarian Aid and Relief Centre (KSrelief), would support UNRWA's "humanitarian relief efforts in...Business Economy
ECB wants reports on weekly basis to tighten monitoring of banks’ liquidity
BERLIN, GERMANY - The European Central Bank (ECB) announced on Saturday it wants to monitor the liquidity of banks in the...The data include details such as the maturity of liquidity in the bank's accounts, their counterparties and refinancing transactions with the ECB.
The shift comes just after the bankruptcy of regional banks in the United States in March, followed by the collapse of Credit Suisse.
Morocco’s women football team to make history in World Cup debut
When Morocco's women take on two-times former champions Germany in Melbourne they will be the first Arab team to play...Its women team had a surprise run to the final of last year's Africa Cup of Nations, before losing 2-1 to South Africa
It is in Group H at the Women's World Cup and as well as Germany will face South Korea and Colombia
Electric vehicles, lithium-ion, solar batteries become new drivers of China’s foreign trade
Beijing, China - China's traditional export sectors, such as apparel, home appliances, and furniture, have been surpassed by electric vehicles,...These "new three" industries have contributed to an impressive 61.6 percent year-on-year increase in total export value during the first half of 2023
A combination of factors, such as production innovation and favorable policies, has facilitated the export growth of these sectors
Saudi Arabia to host MENA Climate Week in October to ‘assess progress’
Riyadh, Saudi Arabia--Saudi Arabia will host the MENA Climate Week 2023 in Riyadh on October 8-12, in coordination with the...According to the ministry of energy, the event will examine the progress made in realizing the objectives outlined in the Paris Agreement
It added the event will bring into focus the region's initiatives and approach to climate action and shed light on the impact of climate change
DEWA exhorts customers to take ‘measures’ in order to avoid fire
Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has called on the public to take all necessary measures to avoid the...Exhorting customers to use its smart services, DEWA asked them to visit its website and smart app in order to protect people and property
It urged customers to use proper insulation in order to cover wires and be careful of exposed wires and damaged electrical parts
IHG to open Hotel Indigo in Oxagon
Oxagon is a coastal industrial city in Saudi Arabia's NEOM.The 250-key Hotel Indigo property will be situated in the Oxagon’s first residential community and will open its doors in 2026.
IHG currently operates 37 hotels across five brands in Saudi Arabia, including InterContinental, Crowne Plaza and Holiday Inn.
Asian markets swing as US jobs data disappoint
Asian equities wobbled at the end of a draining week as fresh US jobs data put revived bets on two...Data recently pointed to a weakening in the US economy that would help ease inflation, the Fed has said it needed to see more softening in the jobs sector.
This week's stumble follows a rally last week when a faster-than-expected slowdown in US inflation stoked hopes the Fed could end its rate hikes. .
FAB second quarter net profit $1.14bn
The rise attributed to increase in net interest and non-interest income.For the first six months of 2023, the net profit was $2.19 billion, up 7 percent from $2.08 billion.
The company said the operating income was $1.82 billion, up 37 percent from 2022.
Tech titans promise watermarks to expose AI creations
Representatives from Amazon, Anthropic, Google, Inflection, Meta, Microsoft, and OpenAI were to join US President Joe Biden later Friday to...Commitments by the companies include independent testing of AI systems for risks when it comes to biosecurity, cybersecurity, or "societal effects," according to the White House
Watermarks for AI-generated content were among topics EU commissioner Thierry Breton discussed with OpenAI chief executive Sam Altman during a June visit to San Francisco
Saudi Arabia’s PIF sets up Sawani Company for camel dairy industry
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced the establishment of Sawani Company to enable the growth of...The company aims to be a leading producer of camel dairy products, supporting Saudi Arabia’s wider food and agriculture sector.
Sawani will work in partnership with the private sector to boost the production capacity of the camel dairy industry.
