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
Saudi Arabia and Qatar to settle Syria’s World Bank debt
Riyadh, Saudi Arabia -- Saudi Arabia and Qatar announced on Sunday that they would settle Syria's debt to the World...
Geostrategy
Geostrategy
Air France, Airbus acquitted over 2009 Rio-Paris crash
PARIS, FRANCE - Air France and plane manufacturer Airbus were acquitted Monday over the 2009 crash of a Rio-Paris flight after...
- The two companies went on trial in October to determine their responsibility for the worst aviation disaster in Air France's history.
- If convicted, Air France, Airbus would have risked a fine of US$250,000 as well as significant reputational damage.
Market Report
Stocks mixed, dollar firms on rate-hike fears
Stock markets traded mixed as last week's optimism gave way to worries that central banks may wait longer than expected...
- The dollar firmed on prospects of more US rate-tightening and oil prices slipped.
- Cooler inflation is said to have eased the pressure on the European Central Bank.
Business
Delegation highlights investment opportunities in Ras Al Khaimah
RAS AL KHAIMAH, UAE - A delegation from Ras Al Khaimah Economic Zone (RAKEZ) has concluded its visit to Russia...
- RAKEZ delegation met people from construction, manufacturing, information technology and fast-moving consumer goods trading.
- The audience in Russia was keen on exploring sectors such as cement, building materials, engineering services and raw materials trading.
Nile-side Egypt town heralds spring with millennia-old pungent delicacy
The delicacy of saltwater fish, buried in salt for weeks at a time, remains a staple as Egyptians celebrate on...
- The traditional dish feseekh dates back more than 4,000 years and has been found in archaeological sites in Egypt, said former antiquities minister Zahi Hawass
- Even a sharp economic crisis impacting every facet of Egyptian life over the past year, has not stopped locals from getting feseekh at a price of about $7-8 per kilo
Economy
Saudi Arabia and Netherlands discuss export of clean hydrogen to Europe
Riyadh, Saudi Arabia-- Saudi Arabia and the Netherlands have discussed the possibility of exporting clean hydrogen from the kingdom to...
- The two also discussed the kingdom's efforts in clean energy and climate change through its local and regional initiatives
- In a separate meeting, the Saudi Foreign Minister Prince Faisal bin Farhan and the Dutch minister reviewed the bilateral relations between the two nations
Geostrategy
More than 40 people killed in Syria attacks blamed on IS
The Observatory, which has a wide network of sources on the ground in Syria, said fighters riding motorbikes also attacked...
- Since February, more than 240 people have been killed in IS attacks targeting truffle hunters or by landmines left by the extremists
- Remnants of explosives laid by all sides in the conflict are now claiming more lives in Syria than anywhere else in the world, says the UN
Economy
Annual inflation in Qatar shoots up 4.01 percent in March
Doha, Qatar-- Inflation in Qatar rose by 4.01 percent year-on-year in March, because of a rise of prices across eight...
- Recreation and culture posted the highest increase, climbing up to 13.63 percent, according to the data released by the Planning and Statistics Authority
- During the fourth quarter of 2022, Qatari banks recorded the highest loan increase among Gulf lenders, despite a stiff interest rate environment
Business
Merck to buy Prometheus
The US$11bn deal will drive drug company's growth.
- At the closing of the New York Stock Exchange on Friday, Prometheus's share price stood at $114.01
- The medical company is in the middle of developing a treatment for autoimmune diseases, including ulcerative colitis and Crohn's disease
Geostrategy
Iraq invites Turkey, Iran to discuss water share issue
BAGHDAD, IRAQ - Iraq's Minister of Water Resources Aoun Diab said on Sunday that the releases of the Tigris River...
- Iraq's Minister of Water Resources said that an invitation was extended to the Iranian Minister of Energy to attend the third Baghdad Water Conference.
- Iraq invited the Turkish delegation for the purpose of continuing discussions on activating the memorandum of understanding signed between the two countries.
Business
Europe’s largest nuclear reactor begins operation in Finland
The most powerful nuclear reactor in Europe, with a capacity of generating 1,600 megawatts, Olkiluoto 3 reached full power in late...
- Olkiluoto 3, now producing around 14 percent of the country's electricity, is expected to remain operational for "at least the next 60 years".
- Built by Areva-Siemens consortium, the reactor was first started up in December 2021 and connected to the Finnish power grid in March 2022.
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
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
Company News
Gulf Air hit by data breach
Economy
Latest News
Dubai GDP growth up 3.3 percent in nine months of 2023
Real estate soared by 4 percent, while financial and insurance activities surged 2.7 percent. The knowledge economy improved with a...
Economy
Bahrain and Slovakia to ramp up cooperation in urban planning
Manama, Bahrain-- Bahrain and Slovakia are looking to ramp up the ongoing cooperation in urban planning and sustainable development. In...
Economy
Cinema ticket prices in Saudi Arabia decline by 16% in 2023
Riyadh, Saudi Arabia - The average cinema ticket prices decreased by over 16% in 2023 compared to the previous year,...
Business
Most Read
Business
France flooded with applications for electric car leasing scheme
Paris, France - The French government has been flooded with applications from low-income households to lease a subsidized electric car from...
- Some 90,000 people have applied to the scheme since the start of the month, French Environment Minister Bechu said.
- President Emmanuel Macron unveiled the plan on social media in December as part of efforts to reduce carbon emissions in France.
World Economic Forum
In Davos, AI excitement persists but fears over managing risks
A recent IMF report said AI would affect nearly 40 percent of jobs around the world, and some 60 percent...
- Over the course of the week, more than 3,000 policy makers, business executives, academics and innovators discussed some of the world's most pressing issues at the annual meet.
- The Forum announced it will hold a special meeting, hosted by Saudi Arabia, on “Global Cooperation, Growth and Energy for Development” on 28-29 Apr 2024 in Riyadh.
Business
Tesla’s Musk throws down the gauntlet
Amid declining sales and safety concerns, CEO covets more control, seeking solace in SpaceX's success.
- Tesla has lost over US$90 billion in market cap, a rough landing in 2024, and a continuation of a slide that could crash the EV maker’s stock value, data from Refinitiv revealed.
- There is declining growth in EV production and a wider slowdown in the market that has Tesla investors nervous.