Trump says US, China ‘have a deal’ on TikTok
"We have a deal on TikTok, I've reached a deal with China, I'm going to speak to President Xi (Jinping)...
Business
Lab-grown diamonds robbing southern Africa of riches
Johannesburg, South Africa -- Botswana and southern African peers that built much of their prosperity on diamonds are scrambling for...
Business
Business
Jordan-Egypt trade expands to US$355.43m in first five months of 2023
Amman, Jordan--Trade between Jordan and Egypt expanded to $355.43 million in the January-May period of the current year, according to...
- The exports to Egypt however showed a decline in the five month period, falling to $63.46 million as against $93 million for the same period last year
- There was a fall in the imports from Egypt to Jordan too, declining to $292 million by the end of May, as compared to $333 million last year
Business
Musk offers legal aid for users in trouble at work over X posts
Since Musk bought the social media platform for $44 billion last October, its advertising business has collapsed, in part because...
- In December, Musk reinstated former US president Donald Trump's Twitter account, although Trump has yet to return to the platform
- X recently reinstated rapper and designer Kanye West around eight months after his account was suspended, according to media reports
Business
One missing after tugboat sinks in Suez collision with tanker
The authorities in charge of the waterway said that a tugboat sank and a cew member had gone missing after...
- The vessel Hong Kong-flagged LPG tanker Chinagas Legend involved in the collision was headed from Singapore to the US
- Two years back the giant ship Ever Given caused a nearly week-long stoppage in Suez traffic after it got stuck in the waterway
Business
Saudi Fund signs US$77m agreement to set up solar power plant in Belize
Riyadh, Saudi Arabia-- Saudi Arabia has signed a $77 million loan agreement with Belize to set up a solar power...
- The agreement was signed by the CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, and the Prime Minister of Belize, John Antonio Briceño
- The agreement aims to build a 60-megawatt solar power plant, complete with the supply and equipment of solar panels, to reduce emissions in the energy sector
Economy
Oman annual inflation inches up to 0.69 percent in June
Muscat, Oman--Oman annual inflation rate reached 0.69 percent by the end of June 2023, according to the monthly consumer price...
- Inflation was fueled by the increase in most of the main groups making up the consumer price index and the prices of the food and non-alcoholic beverages
- The prices of oils and fats rose by 4. 81%, fruits by 4.3%, other foodstuffs by 3.91%, bread and cereals by 2.34%, and non-alcoholic beverages by 0.67%
Business
UAE supplies 25.63 million barrels of crude oil to Japan in June
Tokyo, Japan--Japan's crude oil imports from the United Arab Emirates amounted to 25.63 million barrels in June 2023, or 37.4...
- In the month of June, Japan's crude oil imports touched 68.5 million barrels, of which 66.7 million were provided by the UAE, Saudi Arabia and other countries
- At least 41.4 percent of total imports in June came from Saudi Arabia, making the kingdom and the UAE the top oil providers of more than three-quarters of Japan's needs
Business
MENA region rides the wave of digital transformation
With an estimated IT spending of $175.5 billion in 2023, the region is embracing digital solutions, leveraging advanced technologies, and...
- With an estimated IT spending of $175.5 billion in 2023, the region is embracing digital solutions, leveraging advanced technologies, and investing in flagship projects
- Complete digital transformation requires careful planning, collaboration, and a focus on culture and mindset, positioning the region as a leader in the digital age, say experts
Economy
UAE to mobilize global tech, space sectors for climate action ahead of COP28
ABU DHABI, UAE - Key UAE government entities have partnered to boost coordination between advanced technology and space sectors. The...
- The collaboration aims to further contribute to COP28’s inclusive ecosystem, bringing together major technology companies, global institutions.
- It will encourage companies to use the UAE as a base for producing new technologies that can help drive sustainable industrial development.
Economy
CEPA signed with UAE is a special achievement: Indian minister
New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement...
- The Indian minister was responding to a question by a member of parliament about whether "there are some special achievements of India's foreign policy"
- He added that there is a greater integration of the Indian economy with regional and global economies, contributing to a deeper and extensive trade partnerships
Business
‘Barbie’ set to screen in UAE theaters on August 10
Dubai, UAE - The highly anticipated 'Barbie' movie is all set to grace the big screens in the UAE on...
- Local theaters, including VOX Cinemas, Reel Cinemas, and Roxy Cinemas, have already opened pre-orders for eager viewers
- The UAE, consistent with its practice along with other GCC countries, ensures that movies adhere to strict cultural norms before granting screening rights
Trump says US, China ‘have a deal’ on TikTok
"We have a deal on TikTok, I've reached a deal with China, I'm going to speak to President Xi (Jinping)...
Business
Company News
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China Eastern Airlines to operate three weekly fights between Shanghai and Riyadh
Riyadh, Saudi Arabia - The Saudi Air Connectivity Program (ACP) and China Eastern Airlines have entered into a strategic partnership...
Business
Cryptocurrency Ether witnesses meteoric rise since launch
NEW YORK, US – Bitcoin has captured the limelight in recent weeks as it surged to a new record high, yet...
Business
Non-Jordanian investors own 47% of ASE market value as of February 2024
AMMAN, JORDAN – Data released by the Amman Stock Exchange reveals that non-Jordanian investors bought shares worth US$12.5 million (JD8.9...
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Business
Aramco profit down in 2023
The oil giant posted a 24.7% fall in net profit to US$121.25bn.
- Aramco said the decline reflects the impact of lower crude oil prices and lower volumes sold
- Saudi Arabia said last week it was extending its oil supply cuts of one million bpd through June
Business
Lufthansa cabin crews to go on strike
The announcement came after the airline's record profits.
- The strike will cover flights out of Frankfurt on Tuesday and from Munich on Wednesday, with Lufthansa's subsidiary CityLine also affected
- The latest walkout began last Thursday, with Lufthansa ground staff staging a nationwide two-day strike after a previous walkout in February
Business
Ooredoo partners with Dropbox
It will enable customers to access Dropbox's tools.
- The partnership will enable business customers across Ooredoo’s markets to access Dropbox’s fast, secure, and reliable syncing and collaboration software
- Ooredoo CEO said the partnership with Dropbox underlines the company's commitment to deliver comprehensive digital solutions for their business customers