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,...
Geostrategy
UAE, Jordan ministers discuss global, regional issues
Jordan's Deputy Prime Minister and Minister of Foreign Affairs and Expatriates Ayman Safadi met with UAE Minister of Foreign Affairs...
- The meeting between the two ministers was held on the sidelines of the Sir Bani Yas Forum in Abu Dhabi.
- The ministers highlighted the progress on joint projects and cooperation programs adopted by UAE and Jordan.
Economy
COP27 summit in Egypt reckons with gravest threat to humanity
The already daunting task of decarbonizing the global economy in a few years has been made even harder by a...
- Current trends would see carbon pollution increase 10 percent by the end of the decade and Earth's surface heat up 2.8C, according to findings unveiled last week
- The already daunting task of decarbonizing the global economy in a few years has been made even harder by a global energy crunch and rapid inflation
Economy
Gulf nations secure future with Asian investments
GCC, which has been investing heavily in Asia with an eye on protecting its petrochemicals and oil exports, is engaging...
- GCC, which has been investing heavily in Asia with an eye on protecting its petrochemicals and oil exports, is engaging in growth industries like fintech and logistics
- GCC's exports to Asia are mainly constituted from commodities with predominantly oil products and their derivatives, as well as natural gas, in the case of Qatar
Geostrategy
Saudi, Australian ministers discuss trade, bilateral ties
Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef met the Australian Assistant Minister of Industry for Manufacturing...
- The Saudi delegation’s visit to Australia also included participating in the International Mining and Resources Conference + EXPO (IMARC).
- The Saudi delegation highlighted initiatives to develop the industrial sector.
Geostrategy
US backs two-state solution in call to Palestinian leader
US Secretary of State Anthony Blinken reaffirmed Washington's commitment to a two-state solution to the Israeli-Palestinian conflict in a phone...
- The election result in the Jewish state came against the backdrop of soaring violence between Israel and the Palestinians.
- US Secretary of State Anthony Blinken in a phone call with Palestinian President Mahmoud Abbas also discussed efforts to improve the quality of life for the Palestinian people.
Geostrategy
Iranians stage new protest actions despite crackdown
Iranian students protested and shopkeepers went on strike despite a widening crackdown, according to reports on social media, as demonstrations...
- As the working week got underway, security forces adopted new measures to halt protests at universities in Tehran.
- An official in Kerman province admitted the authorities were having trouble quelling the protests that erupted after Amini's death on September 16.
Geostrategy
Iran admits it had sent drones to Russia before the war
Iran admitted for the first time that it has sent drones to Russia, but insisted they were supplied to its...
- Ukraine and its Western allies have accused Russia of using Iranian-made drones in recent weeks to carry out attacks.
- The European Union and UK have imposed sanctions on three Iranian generals and an arms firm accused of supplying Russia with drones.
Analysis
Total broad money supply in Qatar reaches US$189bn in September 2022
The Planning and Statistics Authority (PSA) has released the 105th issue of (Qatar; Monthly Statistics) bulletin for the month of...
- One of the most prominent changes is the increase in the general index by a positive month-on-month change rate of 1.22 percent compared to August 2022.
- The largest increase was in the entertainment and culture category with 6.03 percent, compared to the previous month.
Science
FANR highlights its robust nuclear safeguards regime
UAE's Federal Authority for Nuclear Regulation (FANR) has recently participated in the 14th Symposium on "International Safeguards: Reflecting on the...
- The symposium in Austria aims to reflect on the experience gained and lessons learned over the past six decades of implementation of nuclear safeguards.
- It also tries to verify that member states are honoring their international legal obligations to use nuclear material and technology only for peaceful purposes.
Business
Awareness campaign of DEWA digital services ends
Dubai Electricity and Water Authority (DEWA) has successfully concluded its awareness campaign among customers about its innovative digital services on...
- The campaign provided guidelines and advice through DEWA's social media and internal and external channels.
- This helps customers make smart decisions to manage their consumption and benefit from DEWA's advanced digital services and initiatives.
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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
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Gulf central banks mimic US Fed, maintain interest rates
The UAE's central bank has kept its Base Rate for the Overnight Deposit Facility (ODF) unchanged at 5.40 percent. It...
Economy
Second quarter foreign investments in Saudi Arabia hit $666bn
Riyadh, Saudi Arabia -- Foreign investments in Saudi Arabia increased 4 percent year-on-year (YoY) to SAR 2.50 trillion ($666. 39...
Business
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Geostrategy
Bilateral trade in 2023 to overtake 2022 figures, says Canada’s envoy to UAE
ABU DHABI, UAE - Trade between the two countries is on an upswing with volumes this year expected to surpass...
- Trade between the UAE and Canada, worth US$4.1 billion in 2022, surpassed the 2021 figure of US$3.4 billion (AED12.7 billion).
- Bilateral trade to the tune of US$1.8 billion in H1 2023 (January to June) exceeded the US$1.7 billion worth of trade in H1 2022.
Business
Foreign investments rise in NE China due to several projects
SHENYANG, CHINA – Investments in the country’s northeast have grown over the past years as several multinational corporations put in...
- Aramco and JV partners NORINCO Group and Panjin Xincheng Industrial Group have a mega Saudi-Chinese petrochemical project in Liaoning Province.
- The project is a 300,000 barrels per day refinery and a petrochemical complex with an annual production capacity of 1.65 million metric tons.
Economy
Saudi Arabia’s Q3 real GDP falls by 4.5% on decreased oil activities
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) decreased by 4.5 percent in the third quarter of...
- Non-oil activities and government activities grew by 3.6 percent and 1.9 percent respectively in the third quarter due to a 17.3 percent fall in oil activities.
- Seasonally adjusted real GDP decreased by 3.9 percent in the third quarter compared to the previous quarter, due to a decrease in oil activities and government activities.