WEF25: Saudi delegation calls for nations to put “greater good” first
The international community must prioritize cooperation and dialogue to overcome the challenges of a fragmented world, the Saudi delegation to...
Economy
UAE leads solar energy growth with strategic projects
Abu Dhabi, UAE - A new report highlighted the UAE's leadership in the regional solar energy sector, driven by initiatives...
Economy
‘FIFA to earn around $700 million due to Qatar World Cup’
"All in all this World Cup will generate for FIFA around $600-$700 million more than the last World Cup," he...
- FIFA chief Infantino said media rights were up about $200 million compared with the 2018 tournament in Russia
- Infantino said he would reveal FIFA's global revenues for the past four years to national associations on Sunday.
Market Report
UAE stocks end higher even as Saudi markets decline
Saudi equities rose on November 13 but the index fell during the rest of the trading days. UAE stocks started...
- The Saudi Public Investment Fund raised US$612 million through a secondary offering of shares by selling a 10 percent stake in Tadawul.
- The Abu Dhabi Stock Exchange rose after Abu Dhabi Ports Group said that it had acquired global platform for integrated logistics services Noatum.
Business
Allwyn buys Britain’s Camelot
Acquisition will likely close in Q1 2023, Czech firm said.
- In March, Britain's Gambling Commission, which licenses and regulates gambling, gave Allwyn Entertainment a license to run the National Lottery from February 1, 2024.
- As Camelot owns the license until then, the takeover will help facilitate a smooth transition, Allwyn said.
Business
GAL-AMMROC, GMF ink pacts
The pact were inked during the B20 Summit in Bali, Indonesia.
- The pacts will allow AMMROC to expand its MRO capabilities and consolidate its status as a key enabler of a sustainable domestic defense sector in the UAE.
- The cooperation will further expand to the joint promotion of the N219 and NC212 aircraft in the Middle East and Africa markets.
Economy
Sharjah International Travel and Tourism Forum to begin Nov 24
SHARJAH, UAE - The 9th edition of the Sharjah International Travel and Tourism Forum (SITTF) is set to kick off...
- The forum will convene a host of government officials, local and international decision-makers, experts in global travel, tourism and aviation sector.
- Organized by Sharjah Commerce and Tourism Development Authority, the forum complements SCTDA's efforts to bolster Sharjah's position in global tourism.
Geostrategy
‘Most APEC members condemn war in Ukraine’
Asia-Pacific leaders added their voices to international pressure on Russia over its invasion of Ukraine, issuing a summit statement saying...
- The summit communique was agreed by all APEC members, including Russia and China.
- Apart from substituting the name of the organization, the statement was word-for-word the same as a G20 declaration.
Economy
FIFA president accuses Western World Cup critics of ‘hypocrisy’
Doha, Qatar— FIFA president Gianni Infantino hit back at criticism of Qatar's human rights record on Saturday, blasting the "hypocrisy"...
- Infantino was speaking at his opening press conference of the tournament in Doha
- Qatar officials say their country has been the target of "racism" and "double standards"
Business
FIFA World Cup 2022: Third floating hotel arrives at Doha port
MSC Opera will join MSC World Europa and MSC Poesia which arrived at Doha Port earlier, to offer a luxurious...
- MSC Opera will join MSC World Europa and MSC Poesia which arrived at Doha Port earlier, to offer a luxurious hospitality experience to fans of the FIFA World Cup Qatar 2022
- According to the estimates of the MSC Cruises Group, owner of the three floating hotels that will serve the tournament, the capacity of the three cruise ships is 10,000 beds
Economy
Climate damages are key flashpoint as UN COP talks go overtime
Sharm el Sheikh, Egypt—Climate negotiators were grappling for an agreement Saturday at the UN COP27 in Egypt after high stakes talks went...
- Wealthy nations, long reluctant to discuss the issue over fears of liability, have accepted that vulnerable nations are facing devastating impacts
- Delegates are looking to find agreement on emissions-cutting ambitions and reaffirm a goal to limit average warming to 1.5 degrees Celsius from pre-industrial levels
Economy
GCC, Bangladesh ink MoU to strengthen economic cooperation
The MoU was inked on the sidelines of the 18th edition of Manama Dialogue 2022.
- The MoU was inked on the sidelines of the 18th edition of Manama Dialogue 2022
- The GCC is a regional, intergovernmental, political, and economic union
WEF25: Saudi delegation calls for nations to put “greater good” first
The international community must prioritize cooperation and dialogue to overcome the challenges of a fragmented world, the Saudi delegation to...
Economy
Company News
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Saudi delegation takes part in Riyadh Expo 2030 symposium in Paris
PARIS, FRANCE - A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the...
Business
Sustainably yours: Redefining travel for green future
The future of travel is expected to see greater use of renewable energy in transportation and advancements in technology, driving...
Oil prices edge up on Iraq’s backing for OPEC+ output cuts
New York, United States - Oil prices saw a modest 2% increase on Friday, boosted by Iraq's expressed support for...
Economy
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Business
Dubai witnesses green transit revolution
Dubai is actively implementing climate adaptation strategies and technologies in transportation and infrastructure to mitigate climate change effects and enhance...
- By the end of the decade, the emirate aims to have 10% of public buses run on hydrogen or electric powered, ramping up to 20% by 2035, 40% by 2040, 80% by 2045
- According to Sandalkhan, of BCG, Dubai aims to set a global standard in eco-friendly transportation and RTA's 2050 Zero-Emissions plan reflects that ambition
Economy
Moody’s downgrades US debt rating outlook to negative
Moody's is the only major agency to maintain its rating for US sovereign debt at its highest level -- underscoring...
- The US budget deficit, published last month for the 2023 fiscal year ending September 30, has widened to $1.7 trillion
- Due to interest rate hikes by the US central bank to curb inflation, the cost of debt for the United States has ballooned
Geostrategy
Gaza health system has reached point of no return, says ICRC
The Red Cross called for medical facilities and workers in war-ravaged Gaza to be protected, warning the health system there...
- Medical facilities and personnel across Gaza have repeatedly come under attack since Israel's war with Hamas erupted just over a month ago.
- Such attacks have dealt "a heavy blow to the healthcare system in Gaza, ICRC said.