Russia not in danger of trading oil at a loss, says Lavrov
MOSCOW, RUSSIA – Russia does not see the risk of trading oil at a loss due to the redistribution of...
Business
Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...
Business
Business
VW 2022 net profit at $16.7bn
Firm booked profit despite supply chain disruptions.
- German automaker Volkswagen on Friday said it booked a higher profit in 2022 despite supply chain disruptions and increased costs.
- The group expects vehicle deliveries to rise to around 9.5 million this year, from 8.3 million in 2022.
Geostrategy
UN nuclear chief heads to Iran after near weapons-grade uranium find
UN nuclear watchdog chief Rafael Grossi is expected in Tehran for discussions with officials after International Atomic Energy Agency inspectors...
- The IAEA chief's visit comes amid deadlock in negotiations on reviving the 2015 deal
- Iran last week said it had not made any attempt to enrich uranium beyond 60 percent purity
Business
UAE best country globally for expat lifestyle, says HSBC survey
Abu Dhabi, UAE - The United Arab Emirates is the best country for expat lifestyle, according to a survey by...
- A total of 36 percent of the people surveyed said chances of having a better lifestyle is the main reason for relocating to the UAE.
- Another reason for the survey was to find about the changes in people’s lives post pandemic which includes the changes in their financial lives.
Geostrategy
Renewables help offset rise in coal emissions in 2022, IEA says
"The impacts of the energy crisis didn't result in the major increase in global emissions that was initially feared –-...
- "Without clean energy, the growth in CO2 emissions would have been nearly three times as high," he added.
- The IEA noted that CO2 emissions grew the fastest from oil, at 2.5 percent, but still remain below pre-pandemic levels.
Geostrategy
UAE’s FNC highlights role of parliaments in addressing climate change
RABAT, MOROCCO - UAE's Federal National Council (FNC) highlighted the critical role of parliaments in addressing the repercussions of climate...
- The FNC stressed on the need to strengthen the economic, social and environmental cooperation between countries.
- The UAE’s clean energy production capacity is expected to reach 14 gigawatts by 2030.
Market Report
US, European stocks dip as traders mull US rates outlook
US and European stocks dipped as dealers fretted that the Federal Reserve would push interest rates higher than expected and...
- Oil prices rebounded, while the pound extended gains won on Brexit deal alterations.
- Eurozone bond yields surged higher, with the yield on the benchmark German 10-year government bond rising to a 12 year high.
Geostrategy
US federal agencies given 30-day deadline to enforce TikTok ban
Office of Management and Budget director Shalanda Young in a memorandum called on government agencies within 30 days to "remove...
- The ban does not apply to businesses in the United States not associated with the federal government, or to the millions of private citizens who use the hugely popular app.
- However, a recently introduced bill in Congress would "effectively ban TikTok" in this country, according to the American Civil Liberties Union (ACLU).
Geostrategy
Al-Jarman heads UAE delegation to 52nd session of Human Rights meet in Geneva
GENEVA, SWITZERLAND - The United Arab Emirates is participating in the 52nd session of the Human Rights Council in Geneva,...
- Al-Jarman will highlight key UAE achievements and the prominent role the country plays in human rights globally.
- He will hold meetings with heads of delegations to exchange views on common issues.
Geostrategy
Jordan Senate Chairman, French senate vice-president discuss bilateral ties
AMMAN, JORDAN - Chairman of the Jordan Senate's Committee for Arab, International Affairs and Expatriates Hani Mulki, on Sunday discussed...
- The two leaders also discussed political changes in the surrounding countries following Arab Spring.
- The French leader said her country is looking forward to strengthening relations and partnerships.
Science
Nations closer to global guidelines on disease outbreaks, says WHO
NEW YORK, US - Governments agreed on a way forward to update disease outbreak regulations ahead of meetings to draft...
- A total of 307 amendments to the WHO International Health Regulations came in response to challenges posed by the COVID-19 pandemic.
- Governments had focused on making their countries, and the international community, better prepared for future emergencies.
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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
Russia not in danger of trading oil at a loss, says Lavrov
MOSCOW, RUSSIA – Russia does not see the risk of trading oil at a loss due to the redistribution of...
Business
Company News
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From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
YEARBOOK 2023
5 WEF reports shaping your 2024 agenda
From AI to the future of jobs and slow climb to gender parity, WEF reports provide insights into some of...
Geostrategy
Google agrees to settle $5bn data privacy breach lawsuit
Google has agreed to settle a consumer privacy lawsuit seeking at least $5 billion in damages over allegations it tracked...
Geostrategy
Most Read
Business
US bans import of Apple Watch due to patent clash
A US import ban on certain Apple smartwatch models came into effect, after the Biden administration opted not to veto...
- Apple last week paused its US sales of Apple Watch Series 9 and Apple Watch Ultra 2.
- The move came into effect on the online Apple Store on December 21, with retail locations ceasing sales December 24.
Geostrategy
Russia extends ban on entry of trucks from EU, UK, Norway, Ukraine
MOSCOW, RUSSIA - The Russian government has extended the ban on the entry of trucks from the European Union, the...
- “The restriction will remain in effect until the circumstances that served as the basis for its introduction are eliminated,” the Russian Cabinet said.
- The ban was introduced in 2022 as a response to the EU’s decision not to allow trucks with Russian and Belarusian license plates through.
Geostrategy
UN General Assembly approves US$3.59bn budget for 2024
NEW YORK, US - The United Nations General Assembly (UNGA) approved a US$3.59 billion budget for 2024, including establishing a...
- The UNGA approved around US$50 million as an additional funding for UN Human Rights Council.
- UNGA revealed that it established a multiannual private account for peacemaking and it is used for funding UNPBF.