US and China meet in ‘important step’ towards de-escalating trade war
Geneva, Switzerland - Senior US and Chinese officials were meeting in Geneva Saturday in what Chinese state media described as...
Economy
Warren Buffett says will retire from Berkshire Hathaway by year’s end
Buffett transformed Berkshire Hathaway from a medium-sized textile company when he bought it in the 1960s into a giant conglomerate,
Economy
Lebanon airport expansion sparks transparency concerns
Civil society groups and some lawmakers have decried opacity in the tender process and a lack of involvement of the...
- Cash-strapped Lebanon announced last week that private company Lebanese Air Transport and Irish firm daa International would partner for the revamp.
- Public Works and Transportation Minister Ali Hamieh said the private sector would fund the $122 million project, which would "create around 2,500 jobs."
Economy
Foreign realty ownership to diversify KSA economy
The move is likely to help regulate supply, bridge the gap between supply and demand, and create more demand for...
- The move is likely to help regulate supply, bridge the gap between supply and demand, and create more demand for further development in the Kingdom, says an expert
- The real estate sector plays a crucial role in the country's long-term plan to shift its economy away from oil dependence, adds James Elliot-Square of PRO Partner Group
UAE President names new Vice President and Crown Prince of Abu Dhabi
The appointments signal a new phase in the UAE's leadership and its commitment to pursuing economic growth and development while...
- Sheikh Mohamed appointed Sheikh Mansour bin Zayed as Vice President and Sheikh Khaled bin Mohamed as Crown Prince of Abu Dhabi
- The president also named Sheikh Tahnoun bin Zayed and Sheikh Hazza bin Zayed as Deputy Rulers of Abu Dhabi
Business
Credit Suisse hid $700m in undeclared accounts: US Senate
The Senate report "describes legacy issues, some from a decade ago," which the bank has sought to address by implementing extensive...
- The findings of the two-year Senate Finance Committee probe add to the woes of the Swiss investment bank.
- Credit Suisse pleaded guilty in 2014 to attempting to aid and assist US taxpayers in filing false income tax returns.
Geostrategy
US unveils $1bn initiative for African women’s empowerment
"Advancing the economic status of women and girls is not only a matter of human rights, justice, and fairness --...
- The initiative, launched by Harris, is a mix of US government funding and private sector commitments.
- It includes a $60 million fund for women in the digital economy and nearly $400 million from the private sector.
After Xi-brokered Iran deal, Saudi Arabia to join China led security bloc
Riyadh's move to partner with the bloc comes less than three weeks after the unveiling of a landmark China-brokered reconciliation...
- The Shanghai Cooperation Organization was established in 2001 as a political, economic and security organization to rival Western institutions
- Besides China, its eight members include India, Pakistan and Russia, as well as four central Asian countries - Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan
Economy
New national carrier part of Saudi bid to become a business, tourism magnet
This month Crown Prince Mohammed bin Salman, unveiled Riyadh Air, the new airline which is intended to transform the capital...
- Apart from Riyadh Air, Saudi Arabia is also launching NEOM Airlines, to be based in the planned $500 billion futuristic megacity of the same name
- The trade group Airports Council International predicts the region's airports will see 1.1 billion passengers by 2040, up from 405 million in 2019
Business
Global Carbon Council, EGX sign MoU to launch voluntary carbon market
Doha, Qatar--The Doha-based Global Carbon Council (GCC) and Egyptian Exchange (EGX) have signed a memorandum of understanding (MoU) to launch...
- EGX will list carbon credits issued by GCC, widening offerings to investors looking for a diversified portfolio of CCs
- They will also collaborate on development initiatives aimed at improving the efficacy of carbon offsetting mechanisms
Economy
UAE okays 24 initiatives to double re-export industry by 100%
Abu Dhabi, UAE--The UAE government has endorsed 24 national initiatives to double the country’s re-export industry by 100 per cent...
- The cabinet approved the hosting of the IUCN World Conservation Congress 2025, which is set to draw 10,000 environmental experts and specialists from 160 countries
- It will demonstrate the country's commitment to sustainable economic development and preserving the environment for future generations
Science
Regular, medium-risk adults don’t need extra Covid jabs: WHO
The WHO's vaccine experts are no longer recommending additional Covid-19 vaccine booster doses for regular, medium-risk adults because the benefit...
- The updated recommendations were issued after the UN health agency's Strategic Advisory Group of Experts on Immunisation had its regular biannual meeting
- The additional booster shots are recommended by SAGE after the first one only for people at the highest risk of developing severe Covid-19 disease
US and China meet in ‘important step’ towards de-escalating trade war
Geneva, Switzerland - Senior US and Chinese officials were meeting in Geneva Saturday in what Chinese state media described as...
Economy
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Chemanol to buy stake in ACC
Business
Saudi govt exposes violations in expatriate partnerships
Riyadh, Saudi Arabia - The Saudi National Program to Combat Commercial Concealment has exposed various instances falling under the umbrella...
Business
AI to impact 60% of advanced economy jobs: IMF’s Georgieva
The IMF sees an important opportunity for policy prescriptions to help address these concerns, Georgieva told AFP. "We must focus...
Economy
Saudi Arabia leads world in innovation and investment
"This is in the service of humanity and in building an interconnected and innovative future in various fields, including public...
Economy
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Economy
Saudi Arabia to highlight role in dealing with global challenges at WEF meet
RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...
- Saudi Arabia’s participation in the annual meet underscores its pivotal role in the transition toward carbon neutrality.
- The Kingdom’s engagement provides an opportunity for communication with key players in the private sector globally.
Economy
Saudi Vision 2030 aligns with global eco-goals
"The Davos meeting provides a platform for showcasing Saudi Arabia’s significant efforts and progress in these areas ... International partnerships...
- Saudi Arabia commits to economic diversification through Fourth Industrial Revolution technologies.
- The Kingdom's participation in the World Economic Forum highlights its role in global challenges.
Oil prices rise on Red Sea escalation, corporate earnings season
Crude prices spiked more than four percent before ebbing somewhat after the allies launched deadly strikes following weeks of disruptive...
- In Friday trade, the Dow dipped while the S&P 500 edged higher as investors digested corporate earnings and a surprise drop in wholesale inflation
- Leading banks were mostly lower following a deluge of quarterly results, while airlines were hammered after Delta's forecast disappointed investors