China says will fight to ‘bitter end’ if US pushes trade war
Pressure from Trump could motivate Beijing to strengthen the kinds of support for the economy seen last year -- interest...
Economy
Asian stocks rise as Powell rate warning taken in stride
Equities rose in Asia on Wednesday as traders took in their stride a warning from Federal Reserve boss Jerome Powell...
Geostrategy
Baghdad-Amman oil pipeline will soon be functional, says Iraqi Parliamentary Speaker
BAGHDAD, IRAQ - Iraqi Parliamentary Speaker Mohammed al-Halbousi said that an oil pipeline from Basra port to the Jordanian port...
- Iraq and Jordan will form joint parliamentary committees to overcome legislative impediments to projects.
- The Jordanian delegation held a series of meetings with Iraqi officials.
Economy
UAE launched clean energy projects worth $43 bn in 2022: Minister
UAE Minister of Energy Suhail bin Mohammed Al Mazrouei highlighted the UAE Energy Strategy 2050, the first unified energy strategy...
- UAE’s clean energy production in 2021 totaled 7,035.75 megawatts (MW), underscoring the country's efforts in the clean energy sector.
- The minister said that once commercially operational, the third reactor will add another 1,400 MW of carbon-free electricity to the UAE's electricity grid.
Business
Sharjah Chamber continues boosting the Emirate’s competitiveness
SHARJAH, UAE - Sharjah Chamber of Commerce and Industry (SCCI) in 2022 continued its role in creating investment environment and...
- Sharjah Chamber bolstered its competitiveness by protecting the interests of businessmen and supporting its members in the private sector.
- The Chamber contributed to the growth of the local economy across all sectors, promoting export and re-export activities of its members
Economy
Iraq’s currency in flux as foreign transfers come under scrutiny
While the official exchange rate has been fixed at 1,470 Iraqi dinars against the dollar, the currency was trading at...
- Hadi al-Ameri, a key figure in the pro-Iran former paramilitary Hashed al-Shaabi, has accused the United States of using the dollar "as a weapon to starve nations"
- The Iraqi central bank has described the currency fluctuation as a "temporary situation" and the authorities have taken measures seeking to stabilize the exchange rate
Economy
Aircraft with 72 passengers on board crashes in Nepal
The airline spokesperson said that 68 passengers were on board along with four crew members and that rescue is underway....
- Footage shared on social media showed flames on the ground and black smoke billowing into the sky
- Air traffic control lost contact with the twin-propeller Twin Otter shortly after it took off from Pokhara and headed for Jomsom, a popular trekking destination
Economy
Tourists return in droves to Jordan’s desert marvel Petra
Around 1,700 people make a living from Petra as tour guides, trinket sellers or by taking visitors through the site...
- Jordan received 4.6 million visitors in 2022 -- almost four times the level from 2020 -- earning the country $5.3 billion
- The recovery in tourism industry was helped by official promotional campaigns in new overseas markets, low-cost airline flights and new hotel rooms
Economy
Duty-free markets at air, sea and land ports set to create jobs, help industries, benefit Saudi economy
The move aims at supporting Kingdom's infrastructure development, boosting logistics and providing unique business environment in transport sector, air traffic...
- The move aims at supporting Kingdom's infrastructure development, strengthening logistics, and providing unique business environment in the transport sector, air traffic and ports
- Free markets will increase Saudi exports, reinforcing itss efforts to diversify economy beyond oil, including tourism and travel, that will ultimately benefit the country's economy
Geostrategy
UAE energy minister, Romanian counterpart discuss cooperation
ABU DHABI, UAE - UAE Minister of Energy and Infrastructure and Romanian Minister of Energy discussed ways to enhance cooperation...
- The UAE and Romanian ministers discussed importance of international cooperation to address climate change.
- The ministers discussed ways and means to develop cooperation between the two countries
Economy
Tunisians protest against government as economy deteriorates
Hundreds of Tunisians, including supporters of the Islamist-inspired Ennahdha party, marched Saturday after opponents of President Kais Saied called for...
- "The people want what you don't want. Down with Saied," chanted the activists, including supporters of the Islamist-inspired Ennahdha party
- Saturday's protests were staged in the capital Tunis by two different opposition groups and were held far apart with a heavy police presence
Business
Masdar inks pact with 4 Dutch firms for exporting green hydrogen from Abu Dhabi
ABU DHABI, UAE - Masdar signed an agreement with four Dutch companies to explore the development of a green hydrogen...
- Masdar, , one of the world’s leading clean energy companies, inked an agreement with Port of Amsterdam, SkyNRG, Evos Amsterdam and Zenith Energy.
- Green hydrogen is produced with green electricity from renewables like wind or solar, in a process that separates water into oxygen and hydrogen via electrolysis.
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China says will fight to ‘bitter end’ if US pushes trade war
Pressure from Trump could motivate Beijing to strengthen the kinds of support for the economy seen last year -- interest...
Economy
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Najm inks pact with iot squared
Business
First Movers Coalition emerges as top advocate of climate-friendly technologies
Dubai, UAE-- Since its launch two years ago, the First Movers Coalition (FMC) has become the world's largest private sector...
COP28 UAE
US pledges climate aid for cities, more private sector finance
Samantha Power, administrator of the US Agency for International Development, is visiting the COP28 summit where nations are wrangling over...
COP28 UAE
One in five children in rich countries lives in poverty: UNICEF
Sixty-nine million children live in poverty in the world's 40 richest countries, UNICEF said in a report, blasting Britain and...
Economy
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Geostrategy
Russian oil price cap partially successful
LONDON, UK - A Western price cap imposed a year ago on Russia's oil has had limited success with Moscow increasingly...
- The cap was jointly imposed on December 5, 2022 by the European Union, Australia and the Group of Seven rich countries.
- Initially successful, it lost its impact once President Vladimir Putin's Russia found new buyers for its oil and new tankers to deliver it.
Business
Tawzea, NWC ink pacts
The companies have signed two agreements.
- Tawzea is a 50:50 joint venture between Saudi Arabian Amiantit Co and Sustained Infrastructure Holding Co.
- Under the first contract, Tawzea will operate and maintain the water network in Makkah and its governorates.
Business
Crypto markets witness dynamic asset allocation amid volatility, says study
DUBAI, UAE – Institutional traders (INS) in the crypto markets maintain a conservative approach, with 50 percent of their portfolio...
- In September 2023, institutional traders allocated half of their portfolios to Bitcoin, the report said.
- Retail traders showed a lower percentage of Bitcoin holdings, which could be linked to their higher leverage levels.