Seoul stocks sink amid S. Korea drama as Asian markets struggle
South Korean stocks sank more than two percent Wednesday while the won rebounded from earlier losses after President Yoon Suk...
Car-centric Saudi to open first part of Riyadh Metro
Riyadh, Saudi Arabia - Saudi Arabia announced Wednesday it is ready to open the first part of the Riyadh Metro,...
Science
NASA successfully places Orion spacecraft in lunar orbit
WASHINGTON, UNITED STATES - NASA's Orion spacecraft was placed in lunar orbit Friday, officials said, as the much-delayed Moon mission...
- The spacecraft is to take astronauts to the Moon in the coming years -- the first to set foot on its surface since the last Apollo mission in 1972.
- While in lunar orbit, flight controllers will monitor key systems and perform checkouts while in the environment of deep space, the agency said.
Geostrategy
Europe promises continuous support to Ukraine against Russia
Several European leaders were in Kyiv on Saturday to commemorate the victims of the 1932-33 Holodomor -- Ukrainian for "death...
- Ukrainian President Zelensky said his country will continue to resist Russian attacks that have systematically targeted Ukraine's energy grid
- "Ukrainians went through very terrible things... Once they wanted to destroy us with hunger, now -- with darkness and cold," Zelensky said
Science
MoCCAE highlights role of UAE Climate Change Research Network
SHARM EL SHEIKH, EGYPT - The Ministry of Climate Change and Environment (MoCCAE) organized an awareness session on the UAE...
- The network aims to support collaborative research programs by creating a platform for engaging the academic and scientific community.
- Drawing the participation of 100 attendees, the event explored several key topics, including promoting science and policy engagement for climate action.
Geostrategy
Faroe Islands renew fishing quota deal with Russia
COPENHAGEN, DENMARK - Denmark's autonomous Faroe Islands have renewed a fishing quota deal with Russia for one year despite Moscow's...
- The agreement between Faroe Islands and Russia has been in place since 1977 and is renewable each year.
- The autonomous territory is highly dependent on fishing for its income and the fisheries ministry says the deal with Russia covers 5 percent of its GDP.
Geostrategy
Iran’s Khamenei says negotiating with US won’t end recent ‘troubles’
TEHRAN, IRAN - Iran's supreme leader Ayatollah Ali Khamenei said Saturday that negotiating with the United States would not put...
- Iran has seen weeks of demonstrations sparked by the September 16 death in custody of 22-year-old Kurdish-Iranian woman Mahsa Amini.
- She had been arrested for an alleged breach of the country's strict dress code for women.
Science
UAE University’s agriculture college launches campaign to cut food waste
AL AIN, UAE - The College of Agriculture and Veterinary Medicine at the United Arab Emirates University launched an awareness...
- The program is targeting schools and universities to educate students about the need to reduce food waste.
- The studies conducted in the food court showed that over 50 kilograms of foods is wasted daily during breakfast and lunch.
Geostrategy
US bans gear from China’s Huawei, ZTE over security risk
US authorities announced a ban on the import or sale of communications equipment deemed "an unacceptable risk to national security"...
- The move is the latest in a series of actions to limit the access of Chinese telecom firms to US networks.
- US officials have shown growing wariness in recent years of Chinese telecommunications companies and technology.
Economy
Qatar ready to provide up to $10 billion in funding to Turkey: sources
Turkish and Qatari official are in the final stages of talks to work out the modalities of extending the funding.
- Turkish and Qatari official are in the final stages of talks to work out the modalities of extending the funding
- The Turkish central bank already had a swap agreement with Qatar's central bank that was originally worth $5 billion
Economy
UNWTO says investments key to transform tourism
Marrakesh, Morocco—The UN World Tourism Organization (UNWTO) convened its 117th Executive Council in Marrakesh, Morocco, as the sector’s recovery continues...
- On the eve of the Marrakesh meeting, the United Nations General Assembly was presented with a a draft resolution calling on all to promote tourism
- The Executive Council is the top governing body of UNWTO and meets twice a year
Business
Abu Dhabi’s GDP expands 11.2% in the first half of 2022: SCAD
The quarterly GDP growth rate reached its highest value in six years during the second quarter of 2022.
- The quarterly GDP growth rate reached its highest value in six years during the second quarter of 2022
- The growth is seen as a reflection of the Emirate's ability to sustain growth despite global economic challenges
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
Seoul stocks sink amid S. Korea drama as Asian markets struggle
South Korean stocks sank more than two percent Wednesday while the won rebounded from earlier losses after President Yoon Suk...
Company News
Latest News
Putin, Erdogan and Raisi make visits in Central Asia
Tashkent will host the Iranian and Turkish presidents, as well as Pakistani Prime Minister Anwaar-ul-Haq Kakar and Central Asian leaders....
UAE rides property-market boom as demand soars
Global firms looking to hire space for offices and demand from govt, local dwellers have turbocharged the sector, driving property...
Business
Oil slumps below $80 for first time since July, stocks wobble
Brent crude, the main international contract, briefly dropped more than 2 percent to hit $79.80, before bouncing back above $80...
Business
Most Read
Economy
Saudi FDI flows revised to US$33bn in 2022 under new IMF-approved methodology
Riyadh, Saudi Arabia-- Foreign direct investment (FDI) into Saudi Arabia amounted to $32.52 billion in 2022, revised upwards from $8...
- The IMF-endorsed methodology relies on analyzing individual financial statements to realize highly accurate annual statistics
- The new methodology and figures for FDI was invented after nearly 18 months of work between the Ministry of Investment, GASTAT and SAMA
SEC reports $1.55bn Q3 profit
The company attributes the growth to surge in demand.
- Operating revenues went up to $15.19 billion, marking a 2.2% increase compared to the same period in the previous year
- The company attributed the revenue growth primarily to a surge in demand for electrical energy during the summer season
Geostrategy
UN calls for overhaul of financial system to help poorest countries
The UN called for an overhaul of the global financial system to help the world's poorest countries and their struggle...
- The 46 so-called least developed countries, or LDCs, suffered a sharp economic slowdown in the first years of the COVID-19 pandemic.
- As a consequence of the economic slowdown, an additional 15 million people have been pushed into extreme poverty, the UN body said.