OPEC Fund provides US$50m loan to support agriculture in quake-hit Türkiye
VIENNA, AUSTRIA – The OPEC Fund for International Development (OPEC Fund) is extending a US$50 million loan to Türkiye to...
Geostrategy
Geostrategy
UAE highlights efforts in space sector at UN committee meet
ABU DHABI, UAE - A high-level UAE delegation at the 66th session of the United Nations Committee on the Peaceful...
- The UAE highlighted the significance of the peaceful use of outer space, acknowledging the right of all member states to develop their capabilities.
- The UAE also focused on the importance of international collaboration to ensure space technologies benefit humanity in times of disaster.
Geostrategy
US, India agree on defense industry cooperation plan
The United States and India agreed a roadmap for military industrial cooperation, as New Delhi seeks to reduce its reliance...
- Moscow and New Delhi have been allies for decades, with Russia by far India's biggest arms supplier.
- India is looking to diversify, both by broadening its sources of imports and ramping up domestic production.
Business
Airlines to fly 4.35bn passengers this year, says industry group
ISTANBUL, TURKEY - Airlines will fly 4.35 billion passengers this year, close to the 2019 record as the industry bounces back...
- The sector will also be back in the green, with net profits forecast to reach $9.8 billion in 2023.
- The association said that its 2022 losses were half as bad as previously estimated at US$3.6 billion.
Geostrategy
US official meets UAE diplomats to discuss climate change
DUBAI, UAE - US special climate envoy John Kerry has met senior Emirati officials in Abu Dhabi, including the head of...
- Oil producers have for year touted carbon capture as a potential global warming solution.
- With little investment, carbon capture technology is nowhere near the scale needed to make a significant difference.
Business
EU bicycle exports surged to US$1.1bn in 2022
BRUSSELS, BELGIUM - The EU exported US$1.1 billion (€1.1 billion) worth of bicycles in 2022 (both electric and non-electric, a...
- The EU exported 365,000 electric bicycles and imported 1.2 million in 2022 while the imports were worth US$2.6 billion.
- The overall increase in the trade of bicycles can be attributed to an increase in the export and import of electric bicycles.
Geostrategy
Dane, two Austrian-Iranian citizens released by Tehran arrive home
One Dane and two Austrian-Iranian citizens released from detention by Tehran arrived in their home countries, after the latest in...
- Belgian Foreign Minister Hadja Lahbib welcomed them at the airport along with Danish and Austrian diplomats.
- The trio's release, as well as that of a Belgian aid worker a week earlier, were part of a prisoner swap.
Business
Renewable power capacity to rapidly expand, IEA report reveals
PARIS, FRANCE - Renewable power capacity is expected to jump by a third this year globally as growing policy momentum,...
- Renewables are at the forefront of Europe’s response to the energy crisis, accelerating their growth there.
- New policy measures are also helping drive significant increases in the United States and India over the next two years.
Geostrategy
Danish, two Austrian-Iranian citizens freed by Iran
Iran released one Danish and two Austrian-Iranian citizens it had been holding after mediation by Oman, and they are being...
- Thanking Belgium, Austrian Foreign Minister Alexander Schallenberg said, "Our years of diplomatic efforts to secure their release have borne fruit."
- The Danish man, who was not immediately identified, had been arrested in Iran in November 2022 on the sidelines of a demonstration for women's rights.
Economy
US Senate all set to pass debt deal bill as default almost avoided
US senators raced to pass a bipartisan debt limit deal approved overwhelmingly by the House of Representatives, with the worst-case...
- The bill passed the House on Wednesday with a big majority of 314 votes to 117 -- putting it on a glide path to the White House.
- The Senate has to agree unanimously to fast-track legislation and any individual member can draw out consideration of a bill for days.
Economy
UAE exports to reach $544bn by 2030, says Standard Chartered report
DUBAI, UAE - The UAE is poised to play a pivotal role in global trade with its exports projected to...
- The report forecasts the global trade industry to reach US$32 trillion by 2030, with a projected growth rate of five percent.
- The report said that corridors anchored in Asia, Africa, and the Middle East are expected to outpace the global trade growth rate.
OPEC Fund provides US$50m loan to support agriculture in quake-hit Türkiye
VIENNA, AUSTRIA – The OPEC Fund for International Development (OPEC Fund) is extending a US$50 million loan to Türkiye to...
Geostrategy
Company News
Latest News
Oil prices rise following Red Sea attacks
Market Report
Dubai wins right to host 349 business event in 2023
DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city...
Business
Imane Ayissi brings African tradition to Paris couture
PARIS, FRANCE - Imane Ayissi is on a mission to put authentic African textiles in the spotlight but faces an uphill...
Business
Mac computers could reach new glory due to AI
SAN FRANCISCO, US - Forty years after igniting a PC revolution, Apple's Mac is stronger than ever and could reach new...
Business
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Arts & Culture
Coach Mancini warns Saudi against taking Kyrgyzstan lightly
Doha, Qatar - Roberto Mancini warned Saudi Arabia against falling victim to the kind of Asian Cup shock suffered by favorites...
- Coach Mancini's team are ranked 56th in the world and are one of the contenders for the title while Kyrgyzstan are 98th
- The 59-year-old Mancini, who led Italy to European glory in 2021, took over ambitious Saudi Arabia in August last year
Business
Healthcare industry globally faces data hacking threat
DUBAI, UAE - In an age where data is a cornerstone of modern healthcare, the industry faces an escalating threat...
- The IBM Cost of Data Breach Report reveals that in 2023 the average global cost of healthcare data breach reached $10.93 million.
- In the Middle East, the cost implications of data breach reached $9.18 million in 2023, above the regional average across all sectors.
World Economic Forum
In Davos, AI excitement persists but fears over managing risks
A recent IMF report said AI would affect nearly 40 percent of jobs around the world, and some 60 percent...
- Over the course of the week, more than 3,000 policy makers, business executives, academics and innovators discussed some of the world's most pressing issues at the annual meet.
- The Forum announced it will hold a special meeting, hosted by Saudi Arabia, on “Global Cooperation, Growth and Energy for Development” on 28-29 Apr 2024 in Riyadh.