Oil prices fall amid Israeli Palestinian cease-fire hopes, US crude stockpile building
Oil prices fell on Wednesday over growing hopes for a cease-fire agreement between Israel and Hamas and rising crude inventories...
Economy
Europe reverses course on interest rates, diverging from U.S. Fed policies
For much of the past two years, policymakers on both sides of the Atlantic raised interest rates aggressively to fight...
Economy
Economy
Kuwait backs Turkish-Arab foray into job-oriented philanthropy
Kuwait's Ambassador to Turkey and several Kuwaiti organizations have supported the concept of Core Istanbul
- Kuwait Islamic Charity Organization backs Core Istanbul for its initiative to help young people get jobs
- The concept of Core Istanbul is called as a more business-oriented approach towards philanthropy
Economy
Interior Ministry launches Makkah Route Initiative in 5 countries
Makkah Route Initiative aims to complete procedures in pilgrims countries with ease including issuing visa electronically, taking biometrics, completion of...
- Makkah Route Initiative launched as part of Pilgrim Experience Program under the Saudi Vision 2030
- The Initiative has been launched in Pakistan, Malaysia, Indonesia, Morocco and Bangladesh
Business
Bosphorus sea trade remains undaunted by Ukraine war
At the gates of the Black Sea, trade is in full swing as freighters and oil tankers sail from the...
- After an embargo on Russian imports, tankers with Greek or Maltese flags sail through Bosphorus up to the Black Sea to the Russian ports
- Russian Foreign Minister will visit Turkey to discuss establishment of "sea corridors"
Economy
Oman, Iran sign deals on oil field, two gas pipelines along maritime border
The two countries signed deals to develop two gas pipelines and an oil field along their maritime border, Oman's energy...
- The two sides have signed memoranda of understanding concerning oil and gas, but did not provide details
- A deal was reached about two decades ago to allow Iran to supply Oman with gas, but the project never materialised
Economy
Qatar’s Ministry of Labor launches package of electronic services
Qatar's Ministry of Labor says the new electronic services will streamline procedures and ensure better quality of services
- Qatar's Labor Ministry unveils electronic services for enhancing digital transformation and automation
- The electronic services will speed up transactions and streamline procedures, says Labor Ministry
Economy
Food prices fall in May after hitting record high in March, cereal production may drop
World food prices dipped in May for a second consecutive month after hitting a record high in March, although the...
- FAO says world food prices dipped in May for a second consecutive month although the cost of cereals and meat rose
- Global cereal production would drop in the 2022-23 season for the first time in four years, says FAO
Economy
Kuwait wants Schengen visa exemption for its citizens
Speaker of Kuwaiti National Assembly Marzouq Al-Ghanim expressed optimism that the exemption request would be granted.
- Speaker of Kuwaiti National Assembly Marzouq Al-Ghanim expressed optimism that the exemption request would be granted
- Al-Ghanim said the Kuwaiti delegation responded to many questions on issues like human rights and women empowerment
Economy
UAE, Jordan, Egypt ministers discuss roadmap for new partnership
Less than a week after the signing of the Industrial partnership for Sustainable Economic Growth, ministers from the UAE, Egypt...
- The Ministers discussed time frames for implementing the initiatives and how their performance can be measured
- The members approved the appointment of Omar Al Suwaidi, Under-Secretary of the Ministry of Industry and Advanced Technology, as Secretary-General of the tripartite higher committe
Business
ENEC, KEPCO discuss cooperation in nuclear sector, ways to curb carbon emission
The Barakah Plant will help in the decarbonization of the power sector in the UAE and the Arab World
- ENEC, KEPCO discussed prospects for future cooperation and exploring the opportunities available in the nuclear energy sector
- The overall completion rate of the Barakah Plant is now over 97 percent and the first and second units are producing electricity
Business
Cybersecurity challenges keep Gulf region on its toes
About 25% of ransomware data theft attacks in the GCC are reported from the UAE followed by Saudi Arabia (15.5%),...
- Home networks in the UAE were a magnet for cybercriminals who targeted systems, devices, and networks
- Saudi Arabia's Wired Telecommunications Carriers and Other telecommunications sectors ranked as the most targeted industries within the country
Oil prices fall amid Israeli Palestinian cease-fire hopes, US crude stockpile building
Oil prices fell on Wednesday over growing hopes for a cease-fire agreement between Israel and Hamas and rising crude inventories...
Economy
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Global trade finance gap grew to record US$2.5trn in 2022: ADB
The Asian Development Bank survey found that rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity...
Economy
China’s digital economy surged by $4 trillion from 2016 to 2022
Tianjin, China - The digital economy in China surged by $4.1 trillion from 2016 to 2022, which works out as...
Economy
Qatar’s non-energy private sector records strong growth in August
Doha, Qatar--Qatar's non-energy private sector witnessed strong expansion in August on the back of new orders in the manufacturing and...
Economy
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Business
stc buys stake in Telefónica
The group invests in information, communications and technology sectors.
- The group's growth strategy has resulted in investments in the Information, Communication and Technology sectors inside Saudi Arabia and globally
- The most recent investment being the acquisition by Tawal, a subsidiary of stc Group, of United Group’s telecommunications tower assets in Bulgaria, Croatia and Slovenia
Economy
Healthcare sector in Qatar witnesses remarkable growth, says IPA Qatar
Doha, Qatar--Sustained investment in healthcare infrastructure in Qatar has seen a rapid transformation in the sector as promotion of health...
- A study carried out by IPA Qatar shows that health promotion and disease prevention underpin its commitment to ensuring the well-being of its citizens
- In the next 10 years, digital infrastructure, virtual care, remote patient monitoring and AI will account for some 30% of hospital investments in the region
Business
Saudi Arabia and Russia extend oil cuts, Brent crude price up
The Saudi production cut of one million barrels per day which first took effect in July will continue "for another...
- Brent crude rose above $90 per barrel on the news for the first time since November, while West Texas Intermediate, the main US futures contract, jumped 1.9 percent to $87.16.
- Riyadh, the world's biggest crude exporter, first announced its cut after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia.