Four space station crew members leave for Earth
WASHINGTON, US – Four astronauts left the International Space Station on Monday and were bound for Earth following a more than...
Geostrategy
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
Business
Geostrategy
Algeria hosts first Arab summit since Israel normalization deals
Algeria mediated a reconciliation deal in October between rival Palestinian factions Fatah and Hamas. While few believe the deal will...
- The Arab League held its last summit in 2019, prior to both the pandemic and the UAE's historic US-backed normalization deal with Israel.
- The agreement, only Israel's third such deal with an Arab state, was followed by similar accords with Bahrain, Sudan and Morocco.
Geostrategy
Ukraine blames Russian blockade for making grain export ‘impossible’
Russia's blockade of grain exports makes it "impossible" for fully loaded ships to leave port, Ukraine charged after Moscow claimed...
- UN Secretary-General Antonio Guterres on Sunday expressed "deep concern about the ongoing situation regarding the Black Sea Grain Initiative.
- The July deal to unlock grain exports signed between Russia and Ukraine and brokered by Turkey and the UN, is vital for easing the global food crisis.
Geostrategy
Investment to tackle climate change falls in 2022, says UNCTAD
Cross-border investment in climate change mitigation and adaptation is projected to decline in 2022 against the backdrop of a global...
- Mitigation projects accounted for 94 percent of international climate investments, whereas adaptation ones continued to lag far behind.
- Developed economies made up two thirds of international project finance deals and greenfield investments in renewables.
Geostrategy
GCC condemns German minister’s remarks on Doha World Cup
The secretary general of the Gulf Cooperation Council condemned remarks by Germany's interior minister on the World Cup due to...
- GCC chief Nayef al-Hajraf expressed support for Qatar in a statement published on the council's website.
- The six-member Gulf bloc backs Doha in addressing any interference in its internal affairs, the GCC chief said.
Geostrategy
Russia suspends participation in Ukraine grain deal
Russia suspended its participation in a pact that allowed grain exports from Ukraine, blaming alleged drone attacks on Russian ships...
- The Turkey and UN-brokered deal to unlock grain exports signed between Russia and Ukraine in July is critical to easing the global food crisis caused by the conflict.
- Russia had recently criticized the deal, saying its own grain exports have suffered due to Western sanctions.
Science
21 Saudi Universities figure in Times Higher Education list
RIYADH, SAUDI ARABIA - The number of Saudi universities in the Times Classification of Specializations increased to 21 Saudi universities,...
- Saudi universities are distinguished in 10 major disciplines out of the 11 majors in which international universities are ranked.
- The Kingdom’s universities rankings include 47 in physical sciences, 56 in computer science and 57 in engineering.
Business
ExxonMobil Q3 net surges to US$19.7bn
Hike in profit was due to high oil, natural gas prices.
- The US oil giant became the latest petroleum heavyweight to report stunning third-quarter figures, with year-on-year profits nearly tripling.
- The results show how the surge in crude prices in the aftermath of Russia's invasion of Ukraine has boosted oil company profits.
Business
OMV Q3 net profit at $3.28bn amid high energy prices
Revenue doubled year-on-year to US$17.1 billion.
- OMV has worked closely with Russian giant Gazprom until the invasion of Ukraine.
- Following European sanctions on Moscow, OMV froze its investments in Russia.
Business
Ma’aden among top 3 buyers of carbon credits
Saudi Arabian Mining Company (Ma’aden) is one of the largest purchasers of carbon credits from the first MENA Voluntary Carbon...
- The auction offered high-quality CORSIA-compliant and Verra-registered carbon credits, with 15 Saudi and regional entities participating in the sale.
- The carbon auction is the largest in the world.
Market Report
Markets mixed as investors digest ECB hike, US data
Volatile markets were mostly trading up after the ECB announced an expected hike to interest rates in the face of...
- The euro lost against the greenback on Thursday, after having traded above one dollar for the first time since last month on Wednesday.
- After fluctuating for much of the day, Eurozone stocks were flat by late afternoon trading.
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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
Four space station crew members leave for Earth
WASHINGTON, US – Four astronauts left the International Space Station on Monday and were bound for Earth following a more than...
Geostrategy
Company News
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ADB plans to invest US$100bn to maximize climate impact
MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB)...
Economy
WHO says misuse of antibiotics undermining efficacy
Copenhagen, Denmark - Misuse of antibiotics is denting their efficacy and spawning resistant bacteria which could be responsible for 10 million...
Science
Tax havens only half the story, says OECD
Paris, France - Tax havens are blamed for lower public revenues elsewhere as they lure away multinational firms but a study...
Economy
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Business
Norwegian firm expects first cross-border transport of CO2 in 2025
Oslo, Norway -- Norwegian fertilizer group Yara International on Monday signed a contract to begin transporting CO2 produced at its Netherlands...
- Yara International signed a contract to begin transporting CO2 produced at its Netherlands plant to Norway so it can be buried under the seabed.
- Carbon capture and storage is aimed at helping halt climate change, involves capturing CO2 emissions at factory smokestacks and burying them underground in geological reservoirs.
Geostrategy
Manama Dialogue helps in addressing political, security challenges, says GCC
MANAMA, BAHRAIN – Secretary General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi has said that the hosting of...
- The conference brings together global senior officials and experts to exchange ideas and theories about common challenges.
- It will help in understanding and analyzing issues, promoting security, peace, prosperity and supporting sustainable development.
Geostrategy
Hundreds flee as Gaza’s main hospital evacuated
Hundreds of people fled after Israel's army ordered the evacuation of Gaza's main hospital where over 2,000 people were trapped...
- Israel has been pressing military operations inside the hospital, searching for the Hamas operations center it says lies under the sprawling complex.
- Israel has vowed to destroy Hamas in response to the October 7 attacks which Israeli officials say killed about 1,200 people, most of them civilians.