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
Economy
Saudi Arabia overall export rose 62.6% y-o-y in December
GASTAT data said the value of exports amounted to SAR106.3 billion ($28.35 billion) in December 2021.
- The total value of exports amounted to SAR106.3 billion ($28.35 billion) in December 2021
- This was up from the SAR65.3 billion ($17.41 billion) that Saudi Arabia had in December 2020
Business
UAE Defense Ministry signs deals worth $544m at UMEX & SimTEX
Deals worth more than AED2 billion ($544 million) were made by UAE’s Ministry of Defense during the fifth edition of...
- This was the largest edition of this event in terms of exhibition area and exhibitors, with 134 exhibitors from 26 countries from around the world.
- The Ministry of Defense’s deals on the third and final day of UMEX & SimTEX 2022 included deals with local companies valued at AED 51 million.
Business
Mercedes-Benz posts strong results
Mercedes saw the key measure rise 19.2 bn euros.
- Mercedes, which changed its name from Daimler at the beginning of the month, saw the key measure rise $21.6 bn
- The group's net profit increased almost six-fold to 23.4 billion euros from four billion euros in 2020
Business
Aluminum price hits record high on Ukraine Attack
Aluminum has beaten the previous peak in price hike of $3,380.15, reached in July 2008.
- The lightweight metal price has been increased as high as $3,382.50 per tone
- Analyst Daniel Briesemann said that the rise in price of the metal was expected
Economy
Russian central bank to intervene as ruble, Moscow exchange plummet
The ruble-dominated Moex index opened down 13.97 percent, while the dollar-dominated RTS was down 20.16 percent.
- The central bank measures are intended to provide ‘additional liquidity to the banking sector’ in Russia
- This, as Western sanctions loom after the military operation announced by Vladimir Putin against Ukraine
Geostrategy
Russia attack on Ukraine turns Europe eyes to Saudi Arabia, Qatar
Qatar and Saudi Arabia host American troops, but their economic and political relations with Russia have grown over the years.
- Russian gas accounts for about 40 percent of the European market, leaving it highly exposed to supply disruptions due to the conflict
- A similar logic applies to the 2.3 million barrels of Russian crude that heads west each day through a network of pipelines
Business
Meta lays out moves being made to build the metaverse
The metaverse is a 3D virtual world where people will be able to interact using sensors, head gear and other...
- The metaverse is a 3D virtual world where people will be able to interact using sensors, head gear and other gadgets
- Formidable rivals such as Apple, Google and Microsoft seem poised to compete with Meta on the new virtual terrain
Business
Petrobras 2021 profit hits $20bn
Debt dropped to $47.62 billion in 2021 from $63.17 billion in 2020.
- Net profit for the final quarter last year came in at $5.64 billion, bringing 2021's total to $19.88 billion
- Petrobras said this was a stark contrast to 2020's total of just over $1 billion due to effects of the pandemic
Geostrategy
Oil price break $100 on Russian ‘military operation’ in Ukraine
According to the UN, a full-scale Russian invasion on Ukraine would have a devastating global impact that would likely spark...
- The crisis comes as governments struggle to contain runaway inflation fueled by demand as life returns after recent Covid-19 lockdowns,
- World Markets have been hammered since a week as the Kremlin recognized Ukraine's rebellion and said it would provide "peacekeepers" to the regions
Analysis
GCC turbulence mires Airbus rise
Airbus has been mired in controversy despite its best efforts to increase its customer base, across the world in general...
- Qatar Airways and Airbus have tussled for months over the deterioration of aircraft paint and lightning protection
- Kuwait plans to announce an agreement to restructure the national airline fleet of Airbus aircraft
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
Saudi tourism on growth path despite hiccups
Infographics
Latest News
Elon Musk refutes reports of Tesla-Saudi Arabia talks
The WSJ's report, released on Monday, cited anonymous sources stating that while talks between Tesla and Saudi Arabia were in...
Business
Airports Council International sets up first office in Riyadh
Riyadh, Saudi Arabia-- The Airports Council International (ACI) for Asia-Pacific and the Middle East has established its first office in...
Business
Instacart to raise US$600m in IPO
The US grocery delivery start up set IPO price at $30 per share.
Business
Most Read
Economy
UAE and Serbia hold discussions on signing of CEPA
In order to boost trade and investment flows and private-sector collaboration, the UAE and Serbia have begun talks on Comprehensive...
- The bilateral non-oil trade in H1 reached US$57.6 million, surpassing the total recorded for the whole of 2020
- Until now, the UAE has successfully concluded CEPAs with India, Indonesia, Israel, Türkiye, Cambodia and Georgia
Business
Abu Dhabi council review budget, sports development
Abu Dhabi, UAE - Abu Dhabi Sports Council discussed business developments and plans for developing the sports sector here, local...
- The board reviewed the general financial budget for 2024, which reflects the strong performance of the council and its impact on the sports sector
- They also reviewed the strategic and operational performance report for the first half of 2023 and the performance indicators report
Business
Real estate transactions in Ajman totaled US$408m in August
AJMAN, UAE – Real estate transactions in August achieved a growth of 61.5 percent compared to the same period in...
- The performance of the market and the exceptional figures recorded underscore the attractiveness of real estate investments in Ajman
- This is basically due to the growing demand for properties of all categories, price ranges and a comfortable lifestyle.