‘Bombshell’ OPEC+ output hike hits oil price
Oil prices slumped on Monday after eight OPEC+ members announced a sharp increase in production, while Asian stocks treaded water...
Economy
Massive GCC infrastructure investments set stage for rising foreign equity: Franklin Templeton
The Franklin Templeton Emerging Markets Equity outlook emphasizes how GCC countries have reduced their dependence on oil and gas, opened...
Economy
Economy
Air pollution causes more than 1,200 deaths a year: EU agency
The EU environmental agency said that air pollution is responsible for causing more than 1,200 premature deaths a year in...
- The overall death tolls for the continent could be higher as the report did not cover the major industrial nations of Russia, Ukraine and the United Kingdom
- According to figures released on Monday, ninety-seven percent of the urban population were in 2021 exposed to air that did not meet WHO recommendations
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
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‘Bombshell’ OPEC+ output hike hits oil price
Oil prices slumped on Monday after eight OPEC+ members announced a sharp increase in production, while Asian stocks treaded water...
Economy
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Water stress levels vary in Arab countries
Infographics
Global HQs help Saudi youth boost skills, get jobs
The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the...
Economy
Real estate workforce in Saudi Arabia soars to 26,000 after localization push
Riyadh, Saudi Arabia - The Saudi real estate sector has witnessed a remarkable surge in local employment, boasting a substantial...
Economy
IsDB discusses collaboration with China’s ICBC and BOC
Jeddah, Saudi Arabia -- President of the Islamic Development Bank (IsDB) Muhammad Al-Jasser held today held discussions with senior officials...
Business
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Economy
Saudi Arabia expects to attract 150 million visitors by 2030
Riyadh, Saudi Arabia - Saudi Arabia aims to attract 150 million visitors by 2030, with the tourism sector expected to...
- Saudi tourism Al-Khateeb noted a 156% increase in tourist arrivals compared to 2019, surpassing the global recovery rate from the pandemic by 88%
- He said that the tourism sector's contribution to GDP increased to 4.5%, representing 7% of non-oil GDP, attributing the success to well-executed plans
Economy
Rising costs, debt challenges grip Egypt’s economy
Egypt begins 2024 with steep increases in essential services' prices, exacerbating the economic strain on its citizens amidst a broader...
- Egypt begins 2024 with steep increases in essential services' prices, exacerbating the economic strain on its citizens amidst a broader economic crisis.
- The government seeks to stabilize the economy through IMF program renewal amid challenges like rising foreign debt and fluctuating exchange rates.
Business
ASFAR, Municipality of Al-Ahsa sign agreement
RIYADH, SAUDI ARABIA - ASFAR, the Saudi tourism investment company wholly owned by the Public Investment Fund of Saudi Arabia,...
- The agreement aims to develop a major tourism attraction in the Eastern Province of the Kingdom of Saudi Arabia.
- The partnership between ASFAR and the Municipality of Al-Ahsa is set to transform the Eastern Province’s leisure and hospitality sectors.