Water security remains crucial for stability, prosperity
“Water is the fundamental element of life, enabling human societies to stabilize, develop civilizations, and achieve prosperity. Water is the...
Economy
GCC and Turkey begin free trade negotiations to boost ties
Ankara, Turkey-- The Gulf Cooperation Council and Turkey have started off free trade negotiations to deepen their ties further. In...
Economy
Economy
Saudi private equity, capital growth doubled in five years : Al Quwaiz
Private equity and capital growth in Saudi Arabia has reached SR12 billion ($3.2 billion), Mohammad Al-Quwaiz, chairman of the board...
- Mohammad Al-Quwaiz, chairman of the board of the Capital Market Authority, was speaking at the Global Entrepreneurship Congress 2022 in Riyadh.
- He cited the vitality of fintech companies in the business sector, and explained how the advent of these companies has reshaped the Saudi economy.
Economy
Government institutions need to provide youth skills: UAE minister
Shamma bint Suhail Al Mazrouei, Minister of State for Youth Affairs and Vice President of the Arab Youth Center (AYC),...
- Appropriate skills enable the youth to become drivers of sustainable human and economic development, said Shamma bint Suhail Al Mazrouei.
- The minister was speaking during a session, Power of the Youth: The Multiplier Effect’.
Economy
Bolsonaro removes Petrobras president after surge in fuel price
Brazilian President Jair Bolsonaro decided on Monday to replace the president of state-owned oil giant Petrobras, Joaquim Silva e Luna,...
- In early March, Petrobras upped the price of gas by 18.8 percent and diesel by 24.9 percent
- The ultra-right-wing Brazilian president has long criticized the pricing policy of Petrobras
Economy
Saudi minister says oil volatility would be worse without OPEC+
Volatility on oil markets sparked by Russia's invasion of Ukraine would be worse without OPEC+, the Saudi energy minister said...
- Oil shot up to nearly $140 on supply fears after Russia sent troops into its neighbor on February 24, and the price of crude is still trading at well over $100 a barrel
- The 13-member, Saudi-led Organization of the Petroleum Exporting Countries (OPEC) has so far resisted calls to lift production further following the Russian invasion of Ukraine
Economy
UAE calls for investment in oil, gas to protect global economy
The UAE has called for a stronger investment in oil and gas resources in order to protect the global economy...
- The two ministers warned that divesting from energy sources that drive the global economy will lead to a systemic supply crunch that erodes economic growth
- The Global Energy Forum is being organized by the Atlantic Council in collaboration with WGS2022, and moderated by Frederick Kempe, President and CEO, Atlantic Council
Economy
Education in Lebanon is in crisis because country is in crisis: UN
Lebanon is grappling with an education "emergency," a United Nations official said, as years of economic collapse weigh heavily on...
- "We are now in an emergency situation. Education in Lebanon is in crisis because the country is living in crisis," said Maysoun Chehab of UN education and culture body (UNESCO)
- UNESCO chief Audrey Azoulay visited Beirut weeks later, driving efforts to restore heritage sites and damaged schools
Economy
KSA launches global campaign for its bid to host Expo 2030 Riyadh
Five countries, including Saudi Arabia, South Korea, Italy, Ukraine and Russia are in the reckoning for the 2030 World Expo.
- Five countries, including Saudi Arabia, South Korea, Italy, Ukraine and Russia are in the reckoning for the 2030 World Expo
- The letter announcing Riyadh’s intention to bid was submitted on October 29, 2021 on behalf of the crown prince Prince Mohammed bin Salman
Economy
UAE fast-tracking low-carbon economic growth: Dr Al Jaber
Speaking at the MENA Climate Week Dr. Al Jaber explained that the UAE is adopting a comprehensive, balanced and proactive...
- Speaking at the MENA Climate Week Dr. Al Jaber explained that the UAE is adopting a comprehensive, balanced and proactive approach to climate action
- He urged the international community to do more and fulfil the $100 billion climate pledge made to developing nations over a decade ago
Business
‘Trash has value’: Kenyan inventor turns plastic into bricks
Gjenge Makers, churns out 1,500 bricks made from industrial and household plastic that otherwise would be dumped in the city's...
- Gjenge Makers, churns out 1,500 bricks made from industrial and household plastic that otherwise would be dumped in the city's overflowing garbage heaps
- Plastic is fibrous in nature, and the unique production process prevents air pockets from forming within the bricks
Economy
€120m frozen in money-laundering probe in Lebanon
Prosecutors are probing links Lebanon's central bank chief's link to criminal associations and money laundering.
- French investigators launched investigation against five individuals for embezzling public funds in Lebanon worth of $330 million between 2002 and 2021
- People of Lebanon suspect Riad Salameh who was the chief of Lebanese central bank and other high officials of transferring money abroad during a 2019 uprising
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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
Water security remains crucial for stability, prosperity
“Water is the fundamental element of life, enabling human societies to stabilize, develop civilizations, and achieve prosperity. Water is the...
Economy
Company News
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Russia open to defense cooperation with several countries, says Putin
Moscow is open to equal defense cooperation with all nations seeking to protect their interests, Russian President Vladimir Putin said...
Geostrategy
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Economy
UAE commends UN for successful oil transfer from decaying Yemen tanker
Abu Dhabi, UAE--The UAE has applauded the UN for the successful unloading of oil from the deteriorating tanker, FSO Safer,...
- The UAE's Ministry of Foreign Affairs praised the efforts of the UN, its secretary general and the donor nations for preventing the disaster
- It cost some $143 million to transfer the oil from the stricken tanker to a new vessel, much lower than $20 billion in cleanup cost in the event of a spill
Economy
UAE takes lead in advancing global climate action
Through the COP28 Summit, the UAE aims to facilitate discussions, build consensus, and catalyze transformative actions to address the escalating...
- Through the COP28 Summit, the UAE aims to facilitate discussions, build consensus, and catalyze transformative actions to address the escalating global climate crisis
- The world sees more frequent and direct impacts of the crisis, exemplified by record-breaking heatwaves wreaking havoc on ecosystems and communities, says an expert
Geostrategy
Syria claims US responsible for military escalation in country
BEIRUT, LEBANON – The US is responsible for the military escalation in eastern Syria, where terrorist groups such as the...
- Syria pledged to continue its operations against terrorists until the threat is fully eliminated.
- At least 33 Syrian servicemen were killed on August 10 when a bus they were travelling in was ambushed near Al Mayadin city.