Oil prices jump on report of Israel prepping Iran strike
Both main crude contracts jumped around one percent after CNN reported multiple US officials as saying the government had received...Business Geostrategy
Qatar Airways annual profit $2bn
This was a record 28% jump in annual net profit.Company News Business
Riyadh’s “Global Sports Tower” designs approved
Led by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, the initiative's purpose is to elevate the...Standing at 130 meters, the tower will feature over 30 sports facilities
Designed with a blend of traditional and modern Salmani architecture, it promises to be a distinctive addition to Riyadh's skyline
‘Digital transformation levels the playing field for GCC small businesses’
Digitalization is revolutionizing GCC entrepreneurship, offering vast opportunities and challenges, and driving innovation and growth, Jigar Sagar, an influential figure...GCC entrepreneurs benefit from reduced operational costs and enhanced productivity through digital technologies like automation, AI, and data analytics, says Sagar
Women entrepreneurs in the GCC face unique challenges but show remarkable resilience and determination to succeed in business, he adds
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...Boeing agreed to pay a $243.6 million fine
.The guilty plea would brand the planemaker a felon and could complicate its ability to sell products to the U.S. government
Trump Tower agreement announced in Jeddah following luxury hotel deal in Oman
A Trump Tower is coming to Saudi Arabia, a regional developer announced on Monday, Al Monitor reported.Dar Global and the...Former US President Trump reportedly spoke with Saudi Crown Prince Mohammed bin Salman last April
The Trump Organization and Dar Global unveiled Trump International Oman, a luxury hotel and golf course at AIDA
Boeing offered 737 MAX plea deal, lawyer of crash victims’ families says
Washington, United States - The US Justice Department is offering Boeing a plea deal that will allow it to avoid a...In May, the DOJ concluded that Boeing could be prosecuted for violating a previous DPA reached following the two fatal 737 MAX crashes in 2018 and 2019
Under that three-year deal, Boeing agreed to pay $2.5 billion to settle fraud charges related to the certification of the 737 MAX
Aramco, Sempra ink Port Arthur LNG royalties deal
Aramco's 25% participation in Port Arthur LNG Phase 2 aims to expand its gas portfolio and meet the world's growing...Port Arthur LNG is a natural gas liquefaction and export terminal in southeast Texas with direct access to the Gulf of Mexico
Sempra Infrastructure is actively advancing infrastructure projects within the Port Arthur Energy Hub, addressing the rising demand for lower-carbon fuels
UK’s richest family get jail terms for exploiting staff at Swiss villa
Geneva, Switzerland -A Swiss court handed jail sentences to four members of Britain's richest family on Friday, branding them "selfish" for...The Hindujas were acquitted of human trafficking, but convicted on other charges in a stunning verdict for the family, whose fortune is estimated at 37 billion pounds
Prakash Hinduja and his wife Kamal Hinduja each got four years and six months, while their son Ajay and his wife Namrata received four-year terms
Oil and gas industry hops on generative AI bandwagon
In recent years the downstream industry, which includes refineries that process crude oil into gasoline, has increasingly relied on so-called...Long before the current craze surrounding generative AI, the energy sector employed traditional artificial intelligence through its use of data to identify oil and gas deposits
The new AI programs can also be employed broadly in the workforce instead of being limited to programmers and data analysts, as has been the case with traditional AI
Intel suspends expansion of factory plan in Israel
New York, United States - Intel is halting the expansion of a major factory project in Israel, which was going to...The chip giant in December said it was going to expand an ongoing $10 billion plan at the Kiryat Gat site, in the south of the country, currently under construction
Solicited by AFP, Intel on Monday gave no reason for the pause for the next phase and made no link to the ongoing conflict with Hamas in Gaza
Saudi Aramco says foreigners grab ‘majority’ of share offering
Riyadh, Saudi Arabia - Oil giant Saudi Aramco said Sunday that international investors had snatched up the bulk of shares sold...Aramco ended trading on Sunday at 28.60 Saudi riyals ($7.63) per share, after opening at 27.95 riyals, giving it a market capitalisation of around $1.85 trillion
Aramco, the mostly state-owned jewel of the Saudi economy, announced on May 30 that it would sell 1.545 billion shares, or approximately 0.64 percent of its issued shares
