Saudi Arabia set to leap into space tourism by 2026
Madrid-based Halo Space Company has selected Saudi Arabia as its launch site for space tourism, offering tours at $164,000 per...
Economy
India plugs into the Gulf region with power cables
India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via...
Economy
Business
Stc to buy assets in Europe
It will acquire a portfolio of towers in Europe for US$1.3bn.
- According to a statement, Tawal infrastructure, an arm of Saudi Telecom will pay cash for a host of more than 4,800 towers in Bulgaria, Croatia, and Slovenia
- A few media reports said that it was close to a deal to buy the assets from United Group, which is backed by buyout firm BC Partners
Business
HFZA showcases Sharjah as attractive investment destination at India Steel 2023
SHARJAH, UAE - India is among the UAE's most significant investment partners, with substantial mutual investments. Iron and steel rank...
- Iron and steel rank among the top commodities exported from the UAE to India.
- India is among UAE's most vital trade partners, with substantial mutual investments.
Economy
Collective action required for food security, says FAO
MIYAZAKI, JAPAN - With hunger levels rising and food prices soaring in most of the world, collective actions are necessary...
- Trade continues to be key for global food security and all nations must commit to well-functioning markets and transparency, FAO said.
- "We need to work together in an efficient, effective and coherent manner to identify the solutions," FAO added.
Economy
Up to $1.7 trillion investment needed for green aviation goals
To meet the estimated energy demand from hydrogen and electric aircraft in 2050 would require the amount of energy produced...
- Carbon-free propulsion options, such as battery and hydrogen-powered aircraft, are some of the options the aviation industry is pursuing.
- Airports, airlines and others will need to make heavy infrastructure investment to deliver the green hydrogen and electricity the aircraft will need.
Geostrategy
UK to test new alert system on mobile phones
LONDON, UK - The UK will conduct its first test of a new emergency alert service on Sunday, with millions of...
- The alert system, modeled on schemes in Canada, Japan, and the US aims to warn the public if there is a danger to life nearby.
- Emergency services and the government hope to use the system to alert people to issues such as severe flooding and fires.
Economy
China’s property market buzzes with excitement after record slump
Beijing, China--Pummelled by a housing crisis that caused a record-breaking slump last year, some Chinese property developers are starting to see...
- The property sector was also dented by some homeowners refusing to pay their monthly mortgage payments after getting fed up with developer
- China's property sector and construction account for about a quarter of China's GDP and is a key pillar of the country's growth
Geostrategy
EU foreign policy chief asks European navies to patrol Taiwan Strait
Paris, France--EU foreign policy chief Josep Borrell called on European navies to patrol the disputed Taiwan Strait, in a opinion piece...
- Echoing comments he made last week, Borrell reiterated in the journal Du Dimanche how crucial Taiwan is to Europe
- Vowing to bring the island under its control one day, China claims Taiwan as part of its territory
Economy
‘Saudi Arabia is committed to combat climate change’
The Kingdom is dedicated to collaborating with international and regional partners to find solutions in the climate sector. Saudi Arabia...
- Saudi Arabia aims to increase the percentage of renewable energy to 50 percent in electricity production by 2030, says minister Adel bin Ahmed Al-Jubeir
- The Kingdom will produce up to 2.9 million tons of hydrogen annually by 2030 and increase it to 4 million tons annually by 2035, added the Climate Affairs Envoy
Economy
UAE leads as infrastructure, technology investments boost logistics performance of GCC countries
The sector across the region, however, needs further improvements in timeliness and tracking and tracing systems, highlights the World Bank's...
- The sector across the region, however, needs further improvements in timeliness and tracking and tracing systems, highlights the World Bank's latest Logistics Performance Index
- While the UAE ranks fourth globally for logistics with a LPI score of 7, Qatar, Saudi Arabia, Oman, Bahrain and Kuwait are also doing well, the latest report points out
Business
UAE energy ministry awards DEWA for research, innovation
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded first place in UAE Ministry of Energy and...
- DEWA was honored for its innovative grid-integrated system which regulates photovoltaic inverters for autonomous voltage.
- The approach to innovation, research and development in renewable and clean energy is in line with government strategies, DEWA CEO said.
Saudi Arabia set to leap into space tourism by 2026
Madrid-based Halo Space Company has selected Saudi Arabia as its launch site for space tourism, offering tours at $164,000 per...
Economy
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Riyad Bank Saudi PMI down to 57.5 points in November
Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Manager's Index (PMI), formerly S&P Global Saudi Arabia PMI,...
Business
Global Fund to allot 70% of its funding to countries hit by climate change
Dubai, UAE--The Global Fund to Fight AIDS, Tuberculosis and Malaria (Global Fund) announced at COP28 that more than 70% of...
COP28 UAE
Putin to visit UAE, Saudi Arabia for talks amid OPEC output cuts
Russian President Vladimir Putin, according to his aide Yuriy Ushakov, will first arrive in the UAE this week and then...
Geostrategy
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Business
Gold strikes fresh record high as rate cut bets surge
Hong Kong, China - Gold prices soared to a record high above $2,100 on Monday as traders grow increasingly confident the...
- The precious metal struck $2,135.39 in early Asian trade, topping the previous all-time high set in 2020, during the pandemic
- Bets on a drop in rates have weighed on the dollar, which has in turn made gold cheaper for international buyers
COP28 UAE
$272 billion sustainable finance pledge by UAE financial sector at COP28
Abu Dhabi, UAE -- The financial sector of the United Arab Emirates commits to mobilizing more than AED 1 trillion...
- The commitment to mobilize AED 1 trillion was made by the UAE Banks Federation at an event held on Finance Day at COP28.
- Financial sector's engagement is critical to realize our collective climate ambitions, ensuring that the 1.5°C target remains within reach, said COP28 President Sultan Al Jaber.
Geostrategy
Saudi Arabia, Turkiye strengthen collaboration in agriculture, water management
RIYADH, SAUDI ARABIA – The Kingdom's Minister of Environment, Water and Agriculture Eng. Abdurrahman bin Abdul Mohsen Al-Fadhli signed a...
- Saudi Arabia and Turkiye expressed their commitment to prepare the agricultural sector in both the countries for climate change.
- The MoU aims to strengthen cooperation and enhance production capabilities in the domains of agriculture, livestock and water management.