Debt, trade barriers drag Asian economies in 2024, says World Bank report
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
Economy
US census to include Middle Eastern or North African category
The next US census and federal government forms will include new options for race and ethnicity including a category for...
Geostrategy
Geostrategy
Quran set alight at protest outside Sweden parliament
Two men set the Quran alight outside parliament in Stockholm at a protest similar to previous ones that have sparked...
- Sweden has already seen its diplomatic relations with several Middle Eastern nations strained over previous protests involving Quran desecrations.
- Swedish police have previously stressed they only grant permits for people to hold public gatherings and not for the activities conducted during the events.
Arts & Culture
Egypt energy-saving measures evoke satirical reaction among citizens
Sweltering without air conditioning during the day and plunged into darkness at night, many Egyptians have responded with anger and...
- After 11 days of daily blackouts, Prime Minister Mostafa Madbouli ordered civil servants to work from home once a week.
- He announced scheduled power outages at least through August, and proposed other solutions to Egypt's energy crisis.
Geostrategy
UAE urges collective action for sustainable development at G20 ministers meeting in India
DUBAI, UAE – UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri highlighted the importance of collective...
- The UAE minister called upon G20 countries to fulfil their commitment to providing the pledged financial support for global climate initiatives.
- She said that is only by collective action that the global community can achieve the worldwide emission reduction target.
Arts & Culture
Cash rich Saudi football league ‘changed market’, says English club
SEOUL, SOUTH KOREA - Manchester City manager Pep Guardiola said on Saturday that the Saudi Pro League had "completely changed the...
- "The Saudi league completely changed the market," Manchester City manager Pep Guardiola said.
- City winger Riyad Mahrez this week became just the latest big name to move to Saudi football.
Geostrategy
African Union, EU step up pressure on Niger coup leaders
The African Union demanded Niger's military "return to their barracks and restore constitutional authority" within 15 days as the EU...
- The African Union and the European Union joined the chorus of international condemnation of the power grab, the latest to strike the Sahel region.
- The EU's diplomatic chief Josep Borrell said the bloc would not recognize the putschists and announced the suspension of security cooperation with Niger.
Geostrategy
Egypt calls for renewal of Black Sea grain export deal
MOSCOW, RUSSIA - Egypt's president on Friday called on Russia and Ukraine to find "urgent solutions" to allow the resumption of...
- Moscow withdrew from the agreement after protesting for months that parts of the deal that allowed for export of Russian fertilizer were not honored.
- Russia refused to extend a deal brokered by UN and Turkey, under which Ukrainian grain exports passed through the Black Sea to reach global markets.
Business
ExxonMobil Q2 profits $7.9bn
Profits fell on lower refining margins, natural gas prices.
- Natural gas prices are down sharply from the year-ago period following a mild winter.
- The comparative weakness in refinery margins reflects sluggish economic conditions.
Business
PIF sets up tourism firm Asfar
Firm Saudi Tourism Investment Company has been set up.
- The company will invest in new tourism projects and develop attractive destinations with hospitality, tourist attractions.
- The company will leverage Saudi Arabia’s unique strategic location between the three continents of Asia, Africa and Europe
Business
Tabreed H1 23 net profit $105m
New customers and projects were added in H1 2023.
- In the first half of the year, Tabreed's revenue increased by 9.4 percent YoY to US$290 million, from US$265 million in H1 2022.
- Earlier this month, Tabreed started operating the cooling infrastructure, officially commencing its first operations in India.
Business
Saudi Arabia at 16 position in Lloyd’s List 2023 rankings
RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia was ranked 16 in annual container throughput by the 2023 edition...
- As per the industry report, container volumes across the Kingdom’s ports during 2022 were estimated at 10,439,620 TEUs.
- The Kingdom’s groundbreaking strides in the global logistics landscape boils down to a host of critical catalysts,
Most Read
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
Debt, trade barriers drag Asian economies in 2024, says World Bank report
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
Economy
Company News
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In Davos, AI excitement persists but fears over managing risks
World Economic Forum
Saudi Arabia’s Madinah, KAEC, Al-Ahsa join UNESCO global network of learning cities
RIYADH, SAUDI ARABIA - The United Nations Educational, Scientific and Cultural Organization has announced that the cities of Madinah, King...
Geostrategy
Energy transition led Saudi Arabia to halt oil expansion, says official
RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to...
Business
Red Sea issue puts Yemen peace process on hold
DUBAI, UAE- As Houthi attacks roil the Red Sea and Western air raids target the rebels, moves to end Yemen's long-running...
Geostrategy
Most Read
Geostrategy
Saudi Arabia sends $250m to bolster Yemeni government
Saudi Arabia said it had disbursed $250 million in aid to the internationally-recognized government in Yemen. The money follows an...
- The Yemeni government relocated to Aden, a port city on the southern coast, after the Iran-backed Houthis seized the capital Sanaa in 2014.
- In 2015 Saudi Arabia mobilized an international coalition intended to oust the Houthis.
Arts & Culture
US teens make efforts for Jewish-Muslim dialogue in New Jersey suburb
TEANECK, US - They are only teenagers, but a pair of New Jersey high school students -- one Jewish and one...
- The unexpected success of that first meeting led to a second, larger one, and the girls since have enjoyed support.
- Despite the strong turnout, the girls were not overly optimistic about the outcome of the meeting.
Geostrategy
Hamas, Saudi warn of calamity if Israeli troops attack Rafah
Prime Minister Benjamin Netanyahu this week said he had ordered troops to prepare to go in to the city, crowded...
- Hamas said any military action would have catastrophic repercussion that "may lead to tens of thousands of martyrs and injured if Rafah... is invaded".
- Saudi Arabia said that Israel's planned army operation in overcrowded Rafah would cause a "humanitarian catastrophe".