GCC leads the charge in global sustainability efforts
The region is spearheading sustainability initiatives to address climate challenges, with Saudi Arabia making significant strides towards renewable energy and...
Economy
Aramco CEO highlights collaboration with Beijing at forum in China
AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...
Business
Business
Vietnam experts see Middle East as promising market for country’s exporters
Vietnam has signed economic, trade and scientific-technological cooperation agreements with five GCC countries.
- Vietnam has mostly traded with six member nations of the Gulf Cooperation Council in the Middle East region.
- Trade between Vietnam and the GCC countries has surged from US$2.7 billion in 2012 to US$12.5 billion in 2021.
Economy
90 percent of Arab transactions made in six currencies: AMF director general
Six currencies account for 90 percent of transactions in the Arab world, said Dr. Abdulrahman bin Abdullah Al Hamidy, Director-General...
- The currencies are the Emirati Dirham, the Saudi Riyal, the Egyptian Pound, the Jordanian Dinar, the US Dollar and the Euro.
- Buna Payment Platform is the first regional cross-border and multi-currency payment system that supports Arab transactions in investment: AMF
Geostrategy
Kuwait, KSA agree on plan to develop joint offshore gas field
The project is a joint endeavor between the Saudi-based Aramco Gulf Operations Company and Kuwait Gulf Oil Company.
- The project is a joint endeavor between the Saudi-based Aramco Gulf Operations Company and Kuwait Gulf Oil Company
- The gas output will be divided evenly between the Gulf Arab neighbors, at a time where soaring consumption has led to growing demand for energy in the two countries
Science
April 2 will be first day of Ramadan: International Astronomical Center
It will be possible to see the crescent with a telescope, but not the naked eye, from parts of the...
- Seeing the crescent on Friday, April 1, is not possible with the naked eye from anywhere in the Islamic world
- It can be viewed only through a telescope, but with great difficulty, from parts of Africa and the Americas
Economy
In fair phase-out of oil, gas-rich nations should stop first: Report
For a 50/50 chance of limiting the rise in global temperatures to 1.5C, 19 countries in which per capita GDP...
- The overarching objective, enshrined in the 2015 Paris Agreement, is to cap global warming ‘well below’ 2C, and 1.5C if possible
- A torrent of research since 2015 has confirmed that the lower aspirational target is by far a safer threshold
Economy
Saudi Arabia Railways opens tickets for train to strategic Al Qurayyat
Saudi Arabia Railways "SAR" has opened online booking of tickets for train services via the North Train to and from...
- The services starts on March 31, 2022, with a long-distance journey of 1,215 km by passenger train between Riyadh and Al-Qurayyat.
- Saudi Arab Railway stated that such a step comes in conjunction with the inauguration of the Al-Qurayyat passenger train station on March 30, 2022.
Business
Russia warns embargo on its oil imports will impact everyone
An embargo on Russian oil imports, pushed for by some European countries over Moscow's military action in Ukraine, would have...
- Some EU countries including Baltic states have called for an embargo on Russian oil and gas
- EU foreign ministers on Monday are meeting to discuss the situation in Ukraine
Business
Egypt and Saudi Arabia to boost bilateral economic cooperation
Hala Al-Saeed, Egypt’s minister of planning and economic development, discussed ways to enhance future cooperation between Egypt and Saudi Arabia...
- A discussion was held between Egypt's minister of planning and Saudi Arabia's minister of trade.
- The minister of Egypt stressed her keenness to consolidate relations between the Egyptian and Saudi business communities.
Business
Egyptian pound loses 13% of its value against US dollar
The value of the Egyptian pound shed 13 percent against the US dollar on Monday, registering 17.80 pounds against the...
- The pound's value went from 15.70 to the dollar on Sunday to 17.80 at midday on Monday, according to rates on state-owned banks
- The currency in Egypt saw a sharp devaluation in 2016 when it lost nearly half its value against the dollar overnight
Infographics
GCC members lead Arab nations in happiness report
Four of the six GCC members feature within the top 50 of the World Happiness Report, and are atop the...
- The World Happiness Report is a publication of the United Nation’s Sustainable Development Solutions Network
- It extensively uses data from the Gallup World Poll, and used data from polls for 2019, 2020, and 2021 for this year’s report
GCC leads the charge in global sustainability efforts
The region is spearheading sustainability initiatives to address climate challenges, with Saudi Arabia making significant strides towards renewable energy and...
Economy
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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.