WEF24: AI-generated drugs promise cost reduction
AI is playing a critical role across the biomedical spectrum, from accelerating drug discovery to improving care delivery systems, says...Business Health
In Middle East, ‘manufacturing’ is a new buzzword
Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But...Business Economy
Saudi telco to raise capital by 150%
Bonus shares to be granted by capitalizing $7.9 bn from retained earnings.Shareholders will be granted 1.5 shares for every share at the time of maturity.
Prince Mohammad bin Khalid Al-Abdullah Al-Faisal, Chairman of the Board of Directors, said the capital increase is the largest in the history of Saudi market.
Norway to label products made in Israeli settlements
Israel on Saturday condemned Norway's decision to label products from Israeli settlements with their place of origin. Norway's social democrat...Foreign Minister Anniken Huitfeldt stressed in an interview with Norwegian news agency NTB that this in no way constituted a boycott of Israel
Norway said that the principle behind its decision, as set out in the 2019 ruling, is that consumers should not be deceived by misleading labeling on the origin or products
Meta to launch ‘metaverse academy’ in France
The school's goal in its first year will be to train for free around 100 students in two roles, specialist...Seen as the internet's next great technological development, the metaverse refers to an immersive digital world that aims to recreate real life via augmented or virtual reality.
Located in the capital Paris and other cities including Lyon, Marseille and Nice, the metaverse academy will train 20 students per city each year.
UAE and Uzbekistan extend strategic partnership for three years
The UAE and Uzbekistan have pushed for a new phase of their strategic partnership for government modernization to promote the...Areas of cooperation in the strategic partnership agreement have been updated to include the financial sector, education sector, economy, government leadership, and food security
The expanded strategic partnership signed by the UAE and Uzbekistan covers 27 sectors, involving initiatives in government modernization to benefit from the UAE’s experience
Turkey looks to modern port to revive tourism
A state-of-the-art port in Istanbul with an underground terminal, a celebrity chef's restaurant and a shopping center, welcomes yet another...Hit hard by Covid, Turkey's tourism sector could get a shot in the arm from the revenue generated at Galataport, which opened in 2021
Around 30 cruise ships have so far anchored at Galataport and 200 more are expected by the end of the year, which amounts to 450,000 passengers
Iran and Venezuela sign 20-year cooperation deal
Iran and Venezuela signed a 20-year deal on cooperation between the two allies subject to US sanctions during a visit...Maduro said the cooperation covered the energy and financial sectors as well as "work together on defense projects"
Khamenei welcomed the agreement, and called for "stronger" cooperation between Tehran and Caracas, according to a statement on his official website
Tension spikes between Lebanon and Israel over gas field
Hundreds of people and several lawmakers protested Saturday in southern Lebanon against Israel moving a gas production vessel into an...Lebanon and Israel have no diplomatic relations and are separated by a UN-patrolled border
Lebanon's president and prime minister have condemned Israel for moving the vessel into the Karish field, and have invited US envoy Amos Hochstein to Beirut for mediation
Discoveries give Saudi geotourism an edge in region
Aside from fossil discoveries, one of the unique geological phenomena discovered in Saudi Arabia is basalt columns. These one-of-a-kind columns...On 1 June 2022, the Saudi Geological Survey and the Red Sea Development Company (TRSDC) announced the discovery of 80-million-year-old fossil sites along the Red Sea coast.
Saudi distinguished by its exceptional geological diversity that serve as tourism attractions, says Dr. Muhammad Yusuf Ali, professor of geology at King Saud University.
WTO negotiators finalize key texts on fishing, Covid vaccines
The WTO agreements on fisheries subsidies and a Covid vaccine patent waiver moved a step closer to completion Saturday after...World Trade Organization's first high-level meeting in five years where trade ministers and officials from 164 countries will meet
The global trade body said a draft text on a deal banning subsidies favoring overfishing had been handed over to the ministers
Jordan’s Economic Modernization Vision to simplify tax rules
Jordan's Economic Modernization Vision has proposed ways to simplify customs, taxes and shipping regulations for trade and retail businessThe vision focuses on the trade sector as a top national priority due to its contribution to the GDP
The vision is set to be implemented in three phases over the next 10 years
