United Kingdom renationalizes first train operator under Labor reforms
London, United Kingdom -- Britain's South Western Railways on Sunday becomes the first private train operator to be returned to...
Economy
China factory output beats forecasts, weathering tariffs
Beijing, China - Factory output in China grew at a faster rate than expected last month, official data showed Monday,...
Economy
Geostrategy
Turkey says Ukraine grain deal nearing agreement
The Black Sea Grain Initiative, in place since July after diplomacy by the United Nations and Turkey, allows Ukraine grain...
- NATO member Turkey, which has good ties with Russia and Ukraine, has pushed both countries to resume peace talks after negotiations broke down last year
- Ankara helped the United Nations broker the grain deal last July, helping ease a spike in global food prices caused by Russia's invasion
Cash-strapped Lebanese soldiers moonlight as mechanics, waiters
On average, a soldier used to earn about $800 a month before the crisis, but the value of the Lebanese...
- Soldiers in Lebanon have seen their salaries diminish to around an eighth of their value in dollar terms since the country's economy began tanking in 2019
- The devastating economic crisis - which the World Bank says is one of the planet's worst in modern times - has plunged over 80% of the population into poverty
Economy
GCC meeting discusses trade challenges, unified market
Muscat, Oman - The Gulf Cooperation Council (GCC) countries met here on Thursday to address the obstacles affecting inter-country trade...
- The 64th meeting between Gulf Cooperation Council (GCC) Trade Cooperation Committee and Committee for Standardization Affairs was attended by the GCC ministers of commerce
- The commerce and industry ministers held a consultative meeting with the heads of the federations of the GCC chambers to discuss opportunities to enhance cooperation
Economy
Saudi Arabia, Netherlands ink pack to collaborate on energy
Amsterdam, Netherlands – Saudi Arabia and Netherlands on Thursday signed a Memorandum of Understanding to collaborate on energy on the...
- The MoU aims to establish a framework for cooperation between the two countries and strengthen it in several energy sectors, including renewable energy
- It also facilitates the activation of international supply chains linking the two countries and cooperation on technologies and solutions related to climate change
Economy
Technology helps accelerate industrial decarbonization
There are three main pillars to this approach: transforming existing industries with advanced technologies, creating the green industries of the...
- Digitalization plays a key role in making existing industries more sustainable, driving low-carbon production and decarbonization throughout value chains
- R&D is vital for advancing technologies in green industries, with the UAE committed to increasing spending to further develop and deploy green innovations
Economy
US default would have serious repercussions, says IMF
The International Monetary Fund warned of severe consequences if the US defaults on its debt, ahead of a rapidly-approaching deadline...
- Democrats have been calling for a "clean" increase of the borrowing limit, accusing Republicans of using extreme tactics to push their political agenda.
- The lifting of the debt ceiling has historically been seen as a routine affair, given that it involves raising money to pay for spending commitments.
Science
Masdar, IRENA ink pact on tripling global renewable energy capacity by 2030
ABU DHABI, UAE - Masdar has signed an agreement with the International Renewable Energy Agency (IRENA) to cooperate on a...
- The main objective of the project is to establish a global baseline for renewable energy.
- The project will also highlight the challenges faced by different regions in meeting their renewable energy ambitions.
Economy
Bank of England hikes interest rate to highest level since 2008
The Bank of England lifted its key interest rate to the highest level since the 2008 financial crisis, noting inflation...
- Global policymakers are battling elevated inflation caused largely by runaway energy bills.
- Bank of England warned of "considerable uncertainties" on when UK inflation would return to its two-percent target.
Business
e&, Vodafone form relationship
As per pact, e& is a cornerstone shareholder of Vodafone.
- e& and Vodafone will explore offering joint cross-border digital services to multi-national customers and public sector organizations.
- Services will include fixed and mobile connectivity, Mobile Private Networks, IoT, cybersecurity, and cloud-based services.
Economy
Saudi Industrial Production Index up 4.1 percent in March
Riyadh, Saudi Arabia -- Saudi Arabia's Industrial Production Index (IPI) increased by 4.1 percent in March 2023, compared to the...
- The kingdom's General Authority for Statistics (GASTAT) said the IPI rose to 134.8 points in March, according to the base year 2010, compared to 129.5 points in March 2022.
- The index of the mining and quarrying activity increased by 1.6 percent and the sub-index of the manufacturing activity increased by 10.5 percent over previous year.
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United Kingdom renationalizes first train operator under Labor reforms
London, United Kingdom -- Britain's South Western Railways on Sunday becomes the first private train operator to be returned to...
Economy
Company News
Latest News
ENEC signs MoU with Egypt
COP28 UAE
Investment in Qatar free zones reaches US$1.3bn, says QFZ chairman
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...
Business
Turkey’s inflation 65% in Jan, piles pressure on central bank
Istanbul, Turkey - Turkey's annual inflation rate stayed stable in January at nearly 65 percent, but month-on-month consumer price increases jumped...
Economy
48 Middle East and North Africa IPOs raise $10.7bn in 2023: Report
Five listings, mainly in the energy and logistics sectors, contributed 58 percent towards the total IPO proceeds raised, said the...
Most Read
Economy
GCC ministers hold discussion on food security in the region
Riyadh, Saudi Arabia--Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), held a virtual meeting with ministers from...
- The GCC secretary-general said that food security in the GCC countries receives great attention from the leaders of the GCC countries
- He lay stress on involving all sectors of Gulf society, including the government, private sector, and civil society, to tailor the strategy
Economy
GCC leaps into healthy aging with tech and policy
In the Gulf countries, a transformative journey toward healthy aging is underway, fueled by technological advancements and government initiatives, says...
- In the Gulf countries, a transformative journey toward healthy aging is underway, fueled by technological advancements and government initiatives, says an expert.
- With the UAE leading in longevity research and AI revolutionizing healthcare, the region is on a promising path to ensure longer, healthier, and more fulfilling lifespans.
Economy
Number of visitors to Qatar rises 31.9 percent in December, says report
DOHA, QATAR - The total number of inbound visitors to the country reached about 519 thousand in December 2023, recording...
- Qatar Monthly Statistics bulletin said the highest number of visitors was from the Gulf Cooperation Counci at 33 percent.
- According to the bulletin, the total number of registered new vehicles in December 2023 has reached 3,390 new vehicles.