GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...
Economy
Iran hits out at UN experts report on 2022 protests
TEHRAN, IRAN – Tehran on Saturday strongly condemned a UN report on the Islamic republic's response to mass protests in 2022,...
Geostrategy
Market Report
Markets climb on bright US earnings, UK policy U-turns
Major global equities rose, with sentiment soothed after upbeat US earnings and Britain shredded its controversial budget. Analysts pointed to...
- US industrial production also picked up more than anticipated in September, according to official data.
- On Wall Street, the Dow Jones jumped two percent at the open after a day of strong trading in Asia and Europe, before paring back gains later in the morning.
Geostrategy
UAE, Chile ink pact to exchange knowledge on energy sector
UAE's Ministry of Energy and Infrastructure signed a Memorandum of Understanding with its counterpart in Chile to exchange knowledge and...
- Under the agreement UAE and Chile will exchange information, knowledge and expertise, hold high-level meetings to discuss issues.
- The two sides will organise relevant academic research and enhance their cooperation in clean and renewable energy.
Geostrategy
Oil depot hit and on fire in Russia’s Belgorod, says governor
An oil depot in Russia's Belgorod region bordering Ukraine is on fire after being shelled, the governor said, as strikes...
- One of the shells hit the oil depot in the Belgorod region, regional governor Vyacheslav Gladkov said.
- State-run news agency TASS cited a source in the emergency services saying the burning depot was located in the village of Razumnoye-71
Economy
WFP calls for action to avoid another year of record hunger
UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said that the crises facing the world today...
- The UAE has launched the Agriculture Innovation Mission for Climate (AIM for Climate) in partnership with the US.
- The objective is to raise investments worth US$8 billion in sustainable and climate-smart agrifood systems based on modern technologies.
Economy
54 poor nations urgently need debt relief: UN
The agency's report, published ahead of meetings of International Monetary Fund, the World Bank, and also of G20 finance ministers...
- The UNDP warned that dozens of developing nations were facing a rapidly deepening debt crisis and that the risks of inaction are dire.
- The UN agency said debt troubles had been brewing in many of the affected countries long before the Covid-19 pandemic hit
Economy
Oxfam says world failing to address ‘dangerous’ inequality
The UN and Oxfam have previously decried the unequal distribution of vaccines from richer Western countries to lower-income ones, particularly...
- Oxfam also found that two-thirds of countries failed to increase their minimum wage in line with gross domestic product
- It delivered a withering criticism of most nations, arguing that the pandemic should have been a "wake-up call" to act on poverty in general
Interview
Sustainability key focus of GCC automotive industry
Current trends in the automotive sector such as zero-emission vehicles and carbon-neutral manufacturing demonstrate the growing importance of sustainability, says...
- BMW Group is placing sustainability at the center of their strategic direction across all divisions, says a key BMW Group Middle East official
- By 2030, BMW will release around 10 million fully electric vehicles onto the roads, adds Hamid Haqparwar, Managing Director at BMW Group Middle East
Science
‘Heatwave to make human life unsustainable in certain areas’
GENEVA, SWITZERLAND - Heatwaves will become so extreme in certain regions of the world within decades that human life there...
- Heatwaves are predicted to "exceed human physiological and social limits" in the Sahel, the Horn of Africa and south and southwest Asia.
- "There are clear limits beyond which people exposed to extreme heat and humidity cannot survive," a report by the UN and Red Cross said.
Geostrategy
Germany investigates ‘sabotage’ on its rail framework
Rail operator Deutsche Bahn blamed the travel disruptions on "sabotage", while Transport Minister Volker Wissing spoke of "a targeted and...
- Important communications cables were cut at two sites on Saturday, forcing rail services in the north to be halted for three hours.
- Police have said the investigation into Saturday's incident is still wide open and they have not publicly mentioned any suspects.
Business
Google seeks to enhance smartphone credentials with Pixel 7
The device was unveiled this week in Brooklyn, where representatives from the Mountain View, California giant highlighted top-flight features that...
- Priced at $599 in the United States, the Pixel 7 is being positioned as relatively affordable as the latest versions of the iPhone and Samsung Galaxy are both around $800
- The upgraded system also can translate language in real-time, including idioms, and transmit more nuanced photos of different skin tones
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
GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...
Economy
Company News
Latest News
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...
Geostrategy
Germany, Turkey leaders hold divergent views on Israel-Hamas war
BERLIN, GERMANY - Germany and Turkey's leaders traded barbs on Friday over Israel's war on Hamas, with Frank-Walter Steinmeier stressing the...
Geostrategy
Saudi Arabia, CARICOM countries hold first summit for strategic partnership
RIYADH, SAUDI ARABIA - Since its foundation, the Kingdom has been keen to build bridges of communication with all the...
Geostrategy
Most Read
Business
Dubai Airshow 2023 to see 1,400 exhibitors from 95 countries
DUBAI, UAE – The biggest edition of the Dubai Airshow, a significant global event for the aerospace, space and defense...
- More than 1,400 exhibitors from 95 countries and over 300 international speakers will gather at the at Dubai World Central.
- Dubai Airshow 2023 is also set to welcome leading and new airlines from across the globe, ready to showcase new concepts to the industry.
Geostrategy
Arab, Muslim leaders summit condemns Israel over Gaza offensive
Arab and Muslim leaders condemned Israeli forces' "barbaric" actions in Gaza but declined to approve punitive economic and political steps...
- The summit took place against a backdrop of widespread anger in the Middle East and beyond over Israel's aerial and ground offensive in Gaza.
- Israel's offensive in Gaza killed over 11,000 people, mostly civilians and many of them children, according to the Hamas-run health ministry.
Geostrategy
Israel faces global calls to protect civilians in Gaza
The suffering and death in Gaza has prompted growing calls for a halt in five weeks of fighting in order...
- The Gaza health ministry says Israeli fighting has killed more than 11,000 people, also mostly civilians and many of them children
- Almost 1.6 million people have been internally displaced since October 7, the UN agency for Palestinian refugees (UNRWA) said