Oil prices gain, as equities extend record run higher
Oil prices have experienced choppy trading since the surprise US raid Saturday on Caracas that saw Venezuelan president Nicolas Maduro...
Business
China says to launch digital currency action plan
Beijing, China -- China will on January 1 launch an "action plan" for boosting management and operations of its digital...
Economy
Economy
Saudi Arabia leads world in innovation and investment
"This is in the service of humanity and in building an interconnected and innovative future in various fields, including public...
- Saudi Arabia has emerged as a major technology hub with a $43 billion market.
- The Kingdom sees significant growth in women's empowerment and digital capabilities.
Business
Several MoUs signed at Future Minerals Forum in Saudi Arabia
RIYADH, SAUDI ARABIA – The third edition of the Future Minerals Forum (FMF), organized by the Kingdom’s Ministry of Industry...
- The Ministry of Industry and Mineral Resources and the Japan Organization for Metals and Energy Security signed an agreement.
- The first day of the forum also saw the announcement of unexplored mineral estimates, rising from $1.3 trillion to $2.5 trillion.
Economy
Saudi Arabia to highlight role in dealing with global challenges at WEF meet
RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...
- Saudi Arabia’s participation in the annual meet underscores its pivotal role in the transition toward carbon neutrality.
- The Kingdom’s engagement provides an opportunity for communication with key players in the private sector globally.
Economy
Saudi Vision 2030 aligns with global eco-goals
"The Davos meeting provides a platform for showcasing Saudi Arabia’s significant efforts and progress in these areas ... International partnerships...
- Saudi Arabia commits to economic diversification through Fourth Industrial Revolution technologies.
- The Kingdom's participation in the World Economic Forum highlights its role in global challenges.
Oil prices rise on Red Sea escalation, corporate earnings season
Crude prices spiked more than four percent before ebbing somewhat after the allies launched deadly strikes following weeks of disruptive...
- In Friday trade, the Dow dipped while the S&P 500 edged higher as investors digested corporate earnings and a surprise drop in wholesale inflation
- Leading banks were mostly lower following a deluge of quarterly results, while airlines were hammered after Delta's forecast disappointed investors
Saudi Arabia announces operational start of this year’s Hajj season
Riyadh, Saudi Arabia - Saudi Minister of Hajj and Umrah, Tawfiq Al-Rabiah, officially inaugurated the operational activities for the 1445...
- The commencement follows the conclusion of the Hajj and Umrah Services Conference and Exhibition, a 4-day event that showcased facilities for the well-being of pilgrims
- The conference witnessed the signing of multiple agreements covering areas such as housing, logistical services, healthcare, transportation, catering, technology, etc
Economy
Sustainable practices make GCC economy resilient
A shift to green tech and renewable energy is fostering the Gulf economy's resilience and diversification for a sustainable future,...
- A shift to green tech and renewable energy is fostering the Gulf economy's resilience and diversification for a sustainable future, says Phil Malem of Serco Middle East.
- GCC's focus on renewable energy, water management, and sustainable transport, alongside green technologies, spurs job creation and aligns with global climate goals.
Economy
IMF okays $700 million disbursement for cash-strapped Pakistan
Washington, United States - The IMF's executive board approved an immediate disbursement of around $700 million for Pakistan Thursday as part...
- The funds were unlocked after the International Monetary Fund board approved the first review of a nine-month.
- Thursday's disbursement brings the total released under the agreement to around $1.9 billion, the Fund said.
Market Report
Oil prices rise after US, UK strike Houthi rebels
Oil prices surged four percent after US and UK forces launched strikes against Iran-backed Houthi rebels after attacks on ships...
- Wall Street had ended flat on Thursday, while the dollar was closing the week with gains against the euro.
- The Houthis have carried out a number of strikes on vessels in the Red Sea, a key international shipping route.
Business
Lunate Capital launches Shariah-compliant ETF tracking Indian equities
ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid,...
- The fund will track the performance of Shariah-compliant Indian equities listed on the Bombay Stock Exchange.
- The Index tracks the performance of the 30 most liquid Shariah-compliant Indian stocks listed on the BSE.
Oil prices gain, as equities extend record run higher
Oil prices have experienced choppy trading since the surprise US raid Saturday on Caracas that saw Venezuelan president Nicolas Maduro...
Business
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ADNOC expands its STEM Education Programme to empower UAE students in AI
Abu Dhabi, UAE – ADNOC has expanded its Science, Technology, Engineering and Mathematics (STEM) education programme to empower UAE students...
Google makes case for keeping Chrome browser in US court
Washington, United States - Google on Friday urged a US judge to reject the notion of making it spin off...
Business
Generative AI’s most prominent skeptic doubles down
Vancouver, Canada -- Two and a half years since ChatGPT rocked the world, scientist and writer Gary Marcus still remains...
Interview
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Economy
OPEC+ ministers, led by Saudi Arabia and Russia, meet as oil output hike looms despite falling prices
The 22-nation group began a series of cuts in 2022 to prop up crude prices, but Saudi Arabia, Russia and...
- The 22-nation group began a series of cuts in 2022 to prop up crude prices, but Saudi Arabia, Russia and six other members surprised markets recently by sharply raising output
- The move has put pressure on prices, which have also fallen as investors worry that US President Donald Trump's tariff onslaught will cause an economic slump and weigh on demand
Economy
OPEC+ expected to open taps more despite price slump
The Organization of the Petroleum Exporting Countries and their allies - collectively known as OPEC+ - have justified their change...
- This follows pressure from US President Donald Trump and group leader Saudi Arabia's quest to penalise allies that breach the cartel's quotas
- In past months, Saudi Arabia, Russia and six other OPEC+ members have surprised markets by announcing a sharp increase in oil production
Economy
United Kingdom renationalizes first train operator under Labor reforms
London, United Kingdom -- Britain's South Western Railways on Sunday becomes the first private train operator to be returned to...
- Renationalizing all of the UK's rail operators is among the key policies launched by Prime Minister Keir Starmer since his party's return to government last July.
- Train passengers in Britain suffer from frequent cancellations, in addition to high ticket prices and regular confusion over which services they can be used on.