Europe hyperloop test hits new speed record in Dutch trial
The Hague, Netherlands -- A Dutch tech startup said Wednesday it had set a European speed record for its futuristic...
Geostrategy
AI giant Anthropic to pay $1.5 bn over pirated books
San Francisco, United States - Anthropic will pay at least $1.5 billion to settle a US class action lawsuit over...
Science
Business
Saudi Arabia’s consumer spending up 8% to reach $30bn in Aug
Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia grew 8 percent to SAR 115.4 billion ($30.76 billion) in August 2023, from...
- Consumer spending includes total cash withdrawals, point-of-sale (POS) transactions and e-commerce sales through "Mada".
- E-commerce sales through Mada cards increased 27 percent YoY to SAR 14.4 billion in August, marking the highest-ever sales value.
Business
ROSHN group opens sale for SEDRA phase 3 units in Riyadh
RIYADH, SAUDI ARABIA - ROSHN Group, one of the Public Investment Fund (PIF) subsidiaries, announced on Sunday the opening of...
- SEDRA phase three will add 3,438 more houses to ROSHN’s first integrated development; 1,904 units are for sale in this initial sales tranche.
- SEDRA 3 offers prospective residents eight options of floor plans and eleven facades, in single- or multi-family configurations,
Economy
Threats and violence as Turks feud over soaring rents
The government has capped property rent increases at 25 percent for households, and aligned them with the official inflation rate...
- Rents in Turkey have soared by an average of 121 percent over the past year, according to a study published by Bahcesehir University in August
- Inflation approached 60 percent in August, but independent t economists say consumer price increases actually reached at least 128 percent
Geostrategy
Congress passes bill, averting US government shutdown
Three hours before the deadline, the Senate voted to keep the lights on through mid-November with a resolution that had...
- Tonight, bipartisan majorities in the House and Senate voted to keep the government open, US President Joe Biden said
- Biden berated McCarthy and the House Republicans for reneging on spending levels agreed with the White House months ago
Business
Old Doha Port signs many agreements during Monaco Yacht Show
Monaco, Monaco--The Old Doha Port has signed several agreements with professional global companies, specialized in yacht during its participation in...
- The executive director of the Old Doha Port said the objective of the participation in the show was to put the port on the global map
- The port officials showcased a model to streamline visiting yachts through a mechanism of entry and exit from Qatar
Economy
Aerial taxis to help Dubai fly high in air mobility
"The challenges in air mobility are posed by weather conditions. Leveraging data and insights from past experiences, strategies have been...
- Air mobility relies on advanced technologies, grounded in systematic plans that have undergone extensive scientific testing, says Duncan Walker, CEO of Skyports
- A notable project on the horizon is the Aerial Taxi, slated to begin operations in 2026. This innovative venture will cover a maximum distance of 241 km, he adds
Economy
Saudi Arabia projects 2024 budget deficit at 1.9% of GDP
The kingdom's finance ministry estimated expenditures for 2024 to be at US$333.5 billion. According to the ministry, the projection is...
- The kingdom's finance minister said that the government will continue implementing fiscal and economic structural reforms
- The minister also noted the important role of the PIF and development funds that enhance the growth of non-oil GDP
Economy
Social aspects of ESG put some firms in a tight spot
While companies are increasing their investments in social initiatives, many grapple with effective execution and evaluation, highlights a new study...
- While companies are increasing their investments in social initiatives, many grapple with effective execution and evaluation, highlights a new study by Kearney
- With only a third of companies seeking external insights, there's a clear opportunity for enhanced collaboration and knowledge-sharing, the report points out
Geostrategy
China rejects US disinformation accusations, calls Washington ’empire of lies’
Beijing, China - China on Saturday accused the United States of being an "empire of lies", hitting back after a State...
- The report, released Thursday by the US State Department's Global Engagement Center, accused China of financing propaganda, disinformation.
- "It is the U.S. that invented the weaponizing of the global information space," a Chinese foreign ministry spokesperson said in a statement.
Geostrategy
UN conference adopts plan to reduce harmful chemicals
PARIS, FRANCE - A new roadmap to reduce the environmental risks from chemicals and waste was adopted at a United Nations...
- The plan sets out 28 concrete targets and guidelines for key sectors across the entire lifecycle of chemicals, from production to waste.
- It calls for a transition to more sustainable chemical alternatives, responsible management of chemicals in industry, agriculture and healthcare.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Europe hyperloop test hits new speed record in Dutch trial
The Hague, Netherlands -- A Dutch tech startup said Wednesday it had set a European speed record for its futuristic...
Geostrategy
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Geopolitical tensions boost oil, weigh on equities
Market Report
BRICS integral to Arab trade diversification strategy
The UAE and Saudi Arabia’s trade with China and India far exceeds their trade with the US and UK. This...
Economy
China’s central bank cuts two key rates to boost economy
Beijing, China - China's central bank on Monday said it had cut two key interest rates to historic lows, in the...
Economy
Putin thanks UAE president for positive role in prisoner exchange with Ukraine
UAE President Sheikh Mohamed meets his Russian counterpart Vladimir Putin to discuss bilateral ties and Middle East. Sheikh Mohamed will...
Most Read
‘Starvation tactics’ being used against 25 million people in Sudan
UN experts on Thursday accused the two sides in Sudan's civil war of using "starvation tactics" against 25 million civilians,...
- The world must pay attention to the largest modern famine taking shape in Sudan today, says UN
- Experts say "the volume of aid currently being delivered through this corridor is not enough to meet the population's needs"
Economy
UN report says 1.1 billion people in acute poverty
More than one billion people are living in acute poverty across the globe, a UN Development Program report said Thursday,...
- 455 million live in the shadow of conflict, while 584 million people under 18 were experiencing extreme poverty
- India was the country with the largest number of people in extreme poverty which impacts 234 million of its 1.4 billion population
Economy
Asian markets track Wall Street losses on worries over tech rally
Hong Kong, China- Asian markets mostly fell on Wednesday after a tech-led sell-off on Wall Street fueled by worries about the...
- Chip titan and market darling Nvidia sank more than four percent
- Japan's Nikkei 225 was off more than two percent