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...
Geostrategy
Google’s new AI for corner kick tactics gets Liverpool approval
PARIS, FRANCE – Liverpool football analysts have given their seal of approval to a new artificial intelligence tool from Google that...
Science
Business
GCC ups oil supply to Japan, fulfills 94% of its demand
Saudi Arabia and the UAE have supplied around 80 percent of Japan's oil demand for the month of June, followed...
- Saudi Arabia provided 27.39 million barrels, an increase from the previous month of 27.10 million barrels, 27.14 million barrels came from UAE
- In June, for the first time in years, there were no oil imports from Russia
Geostrategy
Saudi handshake fuels hope for energy-hit Europe
Mohammed bin Salman's recent Europe visit after US President Joe Biden’s trip to Jeddah suggests that KSA wants to diversify...
- Mohammed bin Salman's recent Europe visit after US President Joe Biden’s trip to Jeddah suggests that KSA wants to diversify its partners amidst global uncertainties, say experts
- Both Saudi Arabia and France want to play a crucial role in stabilization of the region. Paris, in particular, wants greater involvement of Riyadh in Lebanon
Business
Elon Musk files counter lawsuit against Twitter
A judge has ordered a five-day trial over Twitter's lawsuit against Musk to begin on October 17.
- The 164-page filing was submitted as being "confidential," meaning the documents were not accessible by the public.
- Musk's filed case against Twitter's claim that he is contractually bound to complete deal he inked in April to buy Twitter.
Business
Istanbul Airport first in Europe with 1,327 average flights daily
Istanbul Airport ranked first in Europe in terms of the average number of daily flights during the period of July...
- The Airport exceeded the French Charles de Gaulle Airport and Amsterdam Airport Schiphol by number of flights
- Istanbul Airport also topped the list of airports in terms of the number of passengers during the month of June
Business
Gazprom suspends gas export to Latvia as tensions escalate
Russian energy giant Gazprom Saturday suspended gas supplies to Latvia following tensions between Moscow and the West over the conflict...
- Gazprom suspended its gas supplies to Latvia due to "violations of the conditions" of purchase, the company said on Telegram.
- Gazprom drastically cut gas deliveries to Europe via the Nord Stream pipeline on Wednesday to about 20 percent of its capacity.
Economy
DEWA’s Marafeq Smart Feature speeds up issuing of NOCs
Dubai Electricity and Water Authority (DEWA)’s Marafeq Smart Feature has contributed to accelerating issuing of No Objection Certificates (NOCs) for...
- DEWA’s Marafeq Smart Feature has enhanced collaboration with other utilities in Dubai
- Till the end of June 2022, around 15,000 NOCs have been approved using this feature
Economy
‘Credit by national banks rose to US$3.5bn till April 2022’
Credit facilities provided by national banks to the business and industrial sector rose 1.92 percent to US$3.5 billion (AED13.1 billion)...
- The cumulative balance of credit provided by national banks to the sector on a year-on-year basis grew by 2.14 percent.
- Value of credit facilities extended by national banks to the sector accounted for 89.1% of gross accumulative credit balance.
Geostrategy
‘Kuwait an important partner in oil exploration sector’
Secretary-General of the Malaysian Foreign Ministry said Kuwait is an important partner in oil explorations sector, urging closer investment relations...
- Secretary-General, Malaysian Foreign Ministry says Kuwait is an important partner in oil explorations sector
- The official urges closer investment relations between the two countries.
Standard Chartered posts record profit in H1 of 2022
The bank's profit rises 28% to US$581 million in the first half.
- The bank witnessed double-digit income growth and high Operating Profit growth in major markets like the UAE, Pakistan, and Ghana
- The bank’s operating profits has also increased to with US$581 million, a 28% increase in operating profit compared to last year
Business
GCC equities post modest gains this week
Equities in the GCC posted modest gains this week while concerns persist about surging global inflation and how central banks...
- First Abu Dhabi Bank's and the real estate sectors' declines contributed to the overall index's fall at the start and end of the week on the Abu Dhabi Securities Exchange
- On the other hand, the banking sector helped the general index of the Dubai Stock Exchange recover from a 0.7 percent loss on Monday to end the week up 1.1 percent
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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...
Geostrategy
Company News
SAB sees $26m negotiated deal
Business
Latest News
DEWA okays H1 dividend of $843m
The company had reported a net profit of $540 million for Q2.
Business
Saudi Electricity Company signs $3 billion financing agreement
Riyadh, Saudi Arabia -- The Saudi Electricity Company (SEC) announced today signing a $3 billion (SAR 11.25 billion) international syndicated...
Business
Most Read
Business
RSG, KHC set up joint venture
The JV will develop and own the Four Seasons Resort Red Sea.
- The anticipated luxury resort is situated on Shura Island, the main hub for Red Sea destinations.
- It will offer 149 rooms and suites, plus 31 residential properties, as well as six restaurants and lounge outlets.
Business
Saudis need $100s of billions for power investment by 2030: ACWA Power CEO
Riyadh, Saudi Arabia - Saudi Arabia is set to embark on a significant endeavor to expand its power generation capacity,...
- Saudi Arabia aims to construct 60 to 80 gigawatts of power plants utilizing renewable energy sources such as wind and solar
- To facilitate these goals, Saudi Arabia seeks to attract international investment, fostering partnerships with local companies like ACWA Power
Economy
China’s GDP rises above forecasts, boosted by robust recovery efforts
BEIJING, CHINA - China's Gross Domestic Product (GDP) grew by 4.9 percent year-on-year in the third quarter, surpassing economists' predictions...
- Analysts believe China is on track to meet its annual growth target of approximately 5 percent this year.
- Data from China’s National Bureau of Statistics revealed a 5.2 percent growth for the first three quarters.