Iran signs big contracts to increase oil production
Iran sealed contracts worth billions of dollars with domestic companies to boost its oil production in the face of Western...Business Economy Energy
Gulf aviation industry sets sky-high standards
"The demand from certain sectors indicates a strong interest in First Class, prompting us to introduce a newly-designed First Class...Business
US Federal Reserve calls for better supervision of banks
US Federal Reserve Chair Jerome Powell said stronger regulation and greater agility was required in supervising the banking sector following...Federal Reserve called for greater banking oversight while admitting its own supervisors had failed to take forceful enough action.
When SVB failed, it was clear that a number of standard assumptions from a regulatory standpoint "were wrong," the Fed chairman said.
ADB partners committed US$11.4bn to cofinance Asia-Pacific projects in 2022
MANILA, PHILIPPINES - Asian Development Bank's financing partners committed US$11.4 billion to confinance projects in 2022 that boosted the resilience...The report reveals that ADB and its partners enabled the countries to face current and emerging shocks.
ABD and its partners financed projects that helped developing members strengthen trade and small businesses.
Gaming navigates financial woes amid inflation rise
The GCC gaming industry, bolstered by Saudi Arabia's $38 billion investment, is poised for significant growth that may make it...The GCC gaming industry, bolstered by Saudi Arabia's $38 billion investment, is poised for significant growth that may make it a global leader by the year 2030, says an expert
With the largest gaming community in the GCC, Saudi Arabia recognizes the potential of esports and gaming as drivers of economic growth and cultural development, he adds
UK considering taking over country’s biggest water supplier
Responding to reports of a possible renationalization, a government statement said Thames Water's present situation was "a matter for the...Britain privatized its water industry in 1989 when Margaret Thatcher was PM. The country's water companies have accumulated combined debt of £54 billion since privatization.
Thames Water's CEO Sarah Bentley stepped down with immediate effect Tuesday amid mounting worries over the company's debt which totals nearly $18 billion.
Greater data access and control for users as EU modifies digital policy
"Once the data act enters into force, it will unlock the economic and societal potential of data and technologies and...Negotiators from the European Council, which represents the 27 member states, and the European Parliament struck a deal late on Tuesday on the data act.
The new rules also include safeguards against unlawful data transfer by cloud service providers and make it easier to switch providers of data processing services.
Kuwait and South Korea sign MoU to regulate airline operations
Kuwait -- Kuwait's General Administration of Civil Aviation (GACA) and the South Korean Ministry of Land, Infrastructure and Transport signed...The MoU amends the agreement signed between the two countries in 1981 will be in effect for five years with the possibility of renewal.
It will also encourage international airlines to increase their flights to and from Kuwait International Airport and facilitate the movement of passengers and air cargo.
UBS to cut more than half its workforce after Credit Suisse rescue
Credit Suisse had a staff of around 45,000 before it nearly collapsed on investor fears about its solvency, which prompted...Analysts had warned that huge job losses were likely because of the overlapping activities at two of the world's most important banks
A media report said employees had been told of three coming waves of jobs cuts this year - the first at end-July, the others in September and October
Israeli drones, AI, big data to help farmers adapt to climate change
While younger generations in Israel no longer share their predecessors' farming ambitions, the country's agricultural experience wed with its innovative...A recent report by Start-Up Nation Central, a non-governmental organisation that promotes Israeli technology, listed more than 500 agri-tech companies in Israel
Shmuel Friedman, whose Green Wadi company provides agricultural consultancy to countries in Africa, Asia and the Gulf, said there was demand for Israeli technology and expertise
Sharjah Football Company signs Tunisian star Mohamed Firas Belarbi
Sharjah, UAE--Sharjah Football Company has signed Mohamed Firas Belarbi, the Tunisian international defender, from the Ajman Club for an undisclosed...Belarbi considered to be one of the most effective attacking midfielders in the UAE championships over the past two years took part in all 26 league matches, scoring 12 goals
Sharjah Football Company, founded in 2007, is a joint venture between Sharjah Sports Club and the Sharjah Investment and Development Authority
Saudi Gamers8 with a $45m prize pool brings Razer back as gaming gear partner
Riyadh, Saudi Arabia - The Saudi Esports Federation (SEF) on Tuesday announced that Razer, the world’s leading lifestyle brand for...Razer will provide premium hardware from their range of gaming peripherals for VIPs and influencers during the esports festival
Gamers8 has a prize pool of $45 million and the festival concludes with the Next World Forum, a gaming and esports forum
