New shipping service in Saudi Arabia launched
RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) has announced the addition of the new shipping service 'NRS' by...
Business
Death toll in Israeli strikes on Syria climbs to 52, says monitor
Beirut, Lebanon - The death toll in Israeli air strikes on Syria has risen to 52, including 38 government soldiers and...
Geostrategy
Business
Delta posts Q3 profits of $1.1b
The company’s revenues rose 11 percent to $15.5 billion.
- Delta and other US carriers have pointed to pent-up travel demand as a driver of strong results in recent quarters.
- The company described overall demand as "strong," domestic demand as "steady" and international strength as "extending through fall."
Geostrategy
Countries evacuate citizens as Israel-Hamas war rages
Thousands of foreigners are stuck in Israel and across the Palestinian territories, where a full-blown war has erupted since Hamas...
- Argentina, the Latin American country with the largest Jewish population, on Tuesday started evacuating over 1,200 of its citizens from Israel.
- "Around 4,500 German citizens" have registered on a list seeking help to return, a foreign ministry source said.
Economy
World economy resilient, says IMF; keeps growth forecast unchanged
The IMF kept its 2023 global growth forecast unchanged but warned that the economy is "limping along" as inflation remains...
- Inflation, which has fallen sharply since last year, is predicted to remain elevated at 6.9 percent this year.
- Central banks across the globe have raised interest rates sharply in efforts to contain inflation.
Geostrategy
Israel imposes total siege on Gaza after Hamas attack
Israel imposed a total siege on the Gaza Strip and cut off the water supply as it kept bombing targets...
- Israeli Prime Minister Benjamin Netanyahu threatened that "what Hamas will experience will be difficult and terrible ... We are going to change the Middle East."
- Israel said it had called up 300,000 army reservists for its "Swords of Iron" campaign.
Business
Dubai at top global ranking for attracting Greenfield FDI projects in H1 2023
DUBAI, UAE - Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate...
- During the first half of 2023, Dubai’s global share in the attraction of Greenfield FDI projects stood at 6.58 percent.
- The results align the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy over the next decade.
Economy
FAO raises its forecast for global cereal production in 2023
ROME, ITALY - The Food and Agriculture Organization of the United Nations (FAO) raised its forecast for global cereal production...
- The higher forecast is almost entirely based on recent and more positive yield estimates for the Russian Federation and Ukraine.
- There will be increased wheat consumption while global rice utilization is forecast at 520.5 million tons.
Science
Drought caused major global hydropower drop in early 2023
BANGKOK, THAILAND - Dry conditions, particularly in China, caused a "historic" global drop in hydropower in the first half of 2023,...
- Wind and solar generation grew more slowly in the first half of this year than in the same period last year.
- The chief of this year's COP climate meeting has called for a global tripling of renewable energy capacity by 2030.
Geostrategy
Saudi Arabia to enhance air connectivity to over 250 destinations by 2030
RIO DE JANEIRO, BRAZIL - A delegation led by President of the General Authority of Civil Aviation (GACA) Abdulaziz bin...
- The Kingdom plans on carrying 330 million passengers annually and raising freight capacity to 4.5 million tons by 2030.
- Saudi Arabia and the Dominican Republic also signed agreements on air transport services between the two countries.
Economy
Middle East economic growth to fall in 2023, says World Bank
WASHINGTON, US - The growth of the economies in the Middle East and North Africa (MENA) is expected to fall...
- The region’s gross domestic product is expected to fall to 1.9 percent in 2023 from 6 percent in 2022, due to oil production cuts.
- The decline in growth this year is expected to be more pronounced in the oil exporting countries of the Gulf Cooperation Council.
Science
Nobel Chemistry Prize awarded to quantum dots researchers
The trio, whose names were leaked in the Swedish press ahead of the announcement, succeeded in producing these tiny components,...
- Bawendi, 62, born in Paris to French and Tunisian parents, is a professor at Massachusetts Institute of Technology (MIT) in the United States.
- Brus, 80, is a professor at Columbia in New York, and Russian-born Alexei Ekimov works at the US-based Nanocrystals Technology.
New shipping service in Saudi Arabia launched
RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) has announced the addition of the new shipping service 'NRS' by...
Business
Company News
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Hamas says Israeli military action kills 7 hostages in Gaza
Hamas said that seven more hostages seized during its unprecedented attack on southern Israel on October 7 had died because...
Geostrategy
Energy-related global CO2 emissions hit record levels in 2023, says IEA
PARIS, FRANCE – Energy-related carbon dioxide emissions rose to a record level in 2023, but the growth slowed from previous years...
Science
World resource extraction could surge 60 percent by 2060, UN warns
Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...
Economy
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Geostrategy
WTO ministers struggle to forge deals as talks go into overtime
ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as...
- The meeting opened with disagreements between the body's 164 member states on key issues that dominated the agenda of the talks.
- They include fisheries subsidies, agriculture and a moratorium on customs duties for digital transactions.
Geostrategy
Iran launches imaging satellite Pars 1 from Russia
Iran announced the launch of a remote sensing and imaging satellite into orbit from Russia, according to state media. The...
- Iran’s Telecommunications minister said "Pars-I" was "fully domestically developed" in his country.
- In August 2022, Russia launched Iran's remote-sensing Khayyam satellite into orbit from Kazakhstan.
Geostrategy
Zelenskyy in Saudi Arabia to discuss war; meets Mohammed bin Salman
RIYADH, SAUDI ARABIA - President of Ukraine Volodymyr Zelenskyy and his accompanying delegation arrived here on Tuesday.The Ukrainian President was...
- At the Royal Terminal in King Khalid International Airport, Zelenskyy was received by the Deputy Governor of Riyadh Region and other senior officials.
- The 10th Saudi relief plane operated by King Salman Humanitarian Aid and Relief Center (KSrelief) reached a Polish airport, close to the Ukrainian border.