France and UAE sign AI cooperation deal
France and the United Arab Emirates on Tuesday signed a "strategic partnership" on artificial intelligence (AI) aimed at boosting cooperation...
Business
Dubai 21st most richest city in the world, top in the Middle East
New York is the richest city in the world, with 359,500 millionaires and 60 billionaires, although the Bay Area of...
Economy
Economy
Saudi Arabia pledges $10m to prevent Red Sea oil spill disaster
Saudi Arabia on Sunday pledged $10 million to help prevent an ageing Yemeni oil tanker from unleashing a potentially catastrophic...
- The decaying 45-year-old oil tanker abandoned off the rebel-held Yemeni port of Hodeida, is in "imminent" danger of breaking up
- According to the UN, the operation needs to be completed by the end of September to avoid "turbulent winds" that pick up later in the year
Economy
US gasoline average price tops $5 per gallon in historic first
The national average price for regular unleaded gas rose to $5.004 a gallon on June 11 from $4.986 a day...
- The national average price for regular unleaded gas rose to $5.004 a gallon on June 11 from $4.986 a day earlier
- Adjusting for inflation, the US gasoline average is still approximately 8% below June 2008 highs around $5.41 a gallon, according to US Energy Department figures
Business
Qatari, Swiss firms discuss investment prospects in medical tourism
The two countries will celebrate 50 years of diplomatic relations in 2023, which includes organizing events like car exhibitions, and...
- Ambassador of Switzerland to Qatar, Edgar Dorig, said there are various opportunities to enhance Qatari-Swiss cooperation in multiple sectors.
- He noted that the volume of trade between the two countries rose to more than QR 5 billion in 2021, witnessing an increase compared to 2020.
Interview
Qatar Economic Forum highlights country’s role
The forum reflects the strategic position of Qatar as an influential economic player and as a bridge for communication and...
- Qatar Economic Forum reflects the country's status as an influential economic player
- The forum reflects Qatar's keenness to enhance international cooperation to achieve a just economic recovery
Business
TotalEnergies takes $2bn share in Qatar’s giant gas expansion plan
Qatar's Energy Minister Saad Sherida al-Kaabi called the joint venture "a marriage more than an engagement" as it will last...
- TotalEnergies will take a 6.25 percent share of the North Field East Project in its joint venture with QatarEnergy
- Exxon Mobil, Shell, ConocoPhilips are all in line to take part in giant expansion that Qatar originally wanted to finance alone
Business
Sudan ship sinks with 15,800 sheep on board
An overladen ship crammed with thousands of sheep capsized Sunday off Sudan's Red Sea coast drowning the animals on board...
- The livestock vessel was heading from Sudan's port of Suakin to Saudi Arabia when it ran into trouble in the Red Sea
- Sudan remains gripped by a chronic economic crisis, which has deepened following last year's military coup led by army chief Abdel Fattah al-Burhan
Geostrategy
Sudan talks put off as civilian bloc refuses to be part of process
The second round of UN-facilitated talks aiming to resolve Sudan's political crisis following a military coup has been postponed, a...
- UN, AU and regional bloc IGAD launched "direct talks" to break the political stalemate in Sudan since last October's military takeover
- Military officials of Sudan, representatives of several political parties and senior members of ex-rebel groups attended the "direct talk' on Wednesday
Economy
WTO negotiators finalize key texts on fishing, Covid vaccines
The WTO agreements on fisheries subsidies and a Covid vaccine patent waiver moved a step closer to completion Saturday after...
- World Trade Organization's first high-level meeting in five years where trade ministers and officials from 164 countries will meet
- The global trade body said a draft text on a deal banning subsidies favoring overfishing had been handed over to the ministers
Economy
Kuwait keen on supporting IFAD for progress, says official
Kuwait is keen on supporting efforts by the International Fund for Agriculture Development to feed the poor and aid progress...
- Kuwait and Saudi Arabia had helped established IFAD in 1977
- IFAD's aim is to help impoverished and hunger-stricken regions in the world
Geostrategy
OPEC Fund to provide US$40m loan to Kosovo for reforms
The OPEC Fund for International Development will improve fiscal transparency, promote private sector development and enable environmental reforms
- The comprehensive plan will improve fiscal transparency, promote private sector development
- The plan will enable environmental reforms in the energy and waste management sectors
France and UAE sign AI cooperation deal
France and the United Arab Emirates on Tuesday signed a "strategic partnership" on artificial intelligence (AI) aimed at boosting cooperation...
Business
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Jordan-ASEAN Economic Forum to be held in March 2024, says ACC
AMMAN, JORDAN - Chairman of the Amman Chamber of Commerce (ACC) Khalil Haj Tawfiq said the Jordanian Economic Forum with...
Business
Data, rail, electricity key focus as G20 eyes EU-Middle East-India trade plan
Major G20 partners are set to unveil ambitious plans on Saturday to enhance trade among India, the Middle East, and...
Economy
With no deal in place with Ukraine, Russia starts grain supply initiative
Moscow, Russia - Russian Deputy Foreign Minister Sergey Vershinin has confirmed the commencement of the implementation of the Russian grain...
Geostrategy
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Geostrategy
West blocked Russian assets worth $280bn, says US treasury
Washington, US - The REPO (Russian Elites, Proxies and Oligarchs) task force, set up to search and freeze Russia-related assets, estimates the...
- “The total value of assets is estimated at around $280 billion, the majority of which is held in the European Union,” the US Department of the Treasury said.
- Reportedly, the task force has completed its “initial effort to map and account for Russian sovereign assets that are immobilized and held in REPO member jurisdictions".
Economy
Iran receives US$6.7bn foreign investment in May 2023 EXPO, says official
TEHRAN, IRAN - Foreign companies and governments committed some US$6.7 billion worth of investments during an exhibition that was held...
- The Iranian diplomat said that his country has an ambitious vision to diversify its economy away from crude oil revenues.
- He said that this includes expanding the transportation infrastructure in Iran to significantly increase its cargo transit revenues.
Economy
Global rice prices hit 15-year high after India curbs: FAO
Rice is a major world food staple and prices on international markets have soared in the wake of the Covid...
- The consumer affairs and food ministry said at the time that the move would "ensure adequate availability" and "allay the rise in prices in the domestic market".
- The ban was expected to hit African nations, Turkey, Syria and Pakistan, all of which were already struggling with high inflation, data analytics firm Gro Intelligence said.