COP30 deal under threat as nations clash over fossil fuels
The draft text unveiled by COP30 host Brazil made no mention of "fossil fuels" or the word "roadmap" that President...
Geostrategy
Emirates orders 65 more Boeing 777X planes despite delays
Dubai, UAE -- Emirates, the Middle East's biggest airline, topped up its order of Boeing 777X planes on Monday despite...
Business
OPEC+ update: Saudi oil output cut likely to worsen fears of recession
Analysts had largely expected OPEC+ producers to maintain their current policy, but signs emerged this weekend that the 23 countries...
- While the UAE pushes for change in how its output quota is measured, the African producers are reluctant to give up their unused quota
- Oil producers are grappling with falling prices and high market volatility amid the Russian-Ukraine conflict
‘I will continue’: Ronaldo says he’ll stay in Saudi Arabia
Riyadh, Saudi Arabia - Portuguese star Cristiano Ronaldo pledged to remain in Saudi Arabia next season on Thursday despite failing...
- The 38-year-old said in an official Saudi Pro League interview: "I am happy here, I want to continue here, I will continue here."
- Ronaldo's 14 goals in 16 league appearances were only enough for a second-place finish for the Riyadh club, a favourite of some senior Saudi royals
Economy
World needs tangible climate solutions: Al Mubarak
More than 1,000 private sector executives and members of the Dubai Chamber had joined the path towards reducing global emissions...
- Over 1,000 private sector executives and Dubai Chamber members commit to halving global emissions by 2030, aiming for zero emissions by 2050
- UAE continues to enhance its environmental prosperity, with an emphasis on protected areas, sustainable agriculture, and nature-based solutions
Arts & Culture
IIFA Awards: Bollywood struts its stuff in UAE
The Gulf, with its millions of South Asian residents and migrant workers, is a "huge market" for Bollywood, said industry...
- Salman Khan and Abhishek Bachchan are among the A-listers in Abu Dhabi, capital of the oil-rich United Arab Emirates where more than a third of the 10 million population is Indian
- The stars will tread the green carpet - adopted in 2007 in a nod to climate change - after a year when Bollywood, Mumbai's Hindi movie machine, has misfired post-pandemic
Geostrategy
UAE joins $275m global effort toward Romania’s clean energy goals
Abu Dhabi, UAE -- The UAE has joined global partners such as the US, Japan, and South Korea to commit...
- This is the first major nuclear energy initiative to be supported under the Partnership for Accelerating Clean Energy (PACE).
- PACE aims to catalyze $100 billion in financing, investment, and other support to deploy 100GW of clean energy capacity by 2035.
Sudan war leaves farmers of gum Arabic without business
Sudan is the world's largest producer of the raw gum which is a major source of foreign currency for the...
- A gum arabic producer in Sudan, Ahmed Mohammed Hussein, said the absence of buyers has led to a price collapse of around 60 percent
- Gum arabic exports from Sudan totalled 88,000 tonnes in 2021, earning $110 million, according to central bank figures, the latest official data available
Business
TAQA, Uzbekistan to explore power projects, infrastructure investment opportunities
Abu Dhabi, UAE - Abu Dhabi National Energy Company (TAQA) has announced a collaboration with the Government of Uzbekistan to...
- The agreement covers proposals for a greenfield combined cycle power plant with a capacity of approximately 1.5 GW
- The new partnership is expected to cover the design, financing, engineering, ownership and operation of the power plant by TAQA
OIC experts discuss draft plan for Persons with Disability
Jeddah, Saudi Arabia - The Organization of Islamic Cooperation (OIC) on Sunday discussed a plan of action on the protection...
- The finalization and adoption of the OIC Plan of Action will mark an important step forward in promoting inclusivity, and protection of individuals with disabilities
- The initiative followed a resolution made at the 42nd session of the Council of Foreign Ministers on cultural, social, and family affairs held in Kuwait in 2015
Geostrategy
Bahrain to resume diplomatic relations with Lebanon
The Bahraini decision comes the day after the Arab League summit in Saudi Arabia against a backdrop of unexpected rapprochement...
- Bahrain followed Saudi Arabia in recalling their diplomats towards the end of 2021 after a Lebanese minister criticized Riyadh's military intervention in the war in Yemen.
- Lebanon's prime minister Najib Mikati said the country "appreciated this decision and welcomes it". Saudi Arabia returned its envoy to Lebanon in April last year.
Economy
Saudi Arabia signs a $39m pact with the Global Fund to fight pandemics
Geneva, Switzerland – The Saudi Fund for Development (SFD) signed on Friday a $39 million multiyear contribution agreement with the...
- The grant will support the fight to end global pandemics and strengthen health and community systems
- Over the last 20 years, the Global Fund has worked to fight the world’s three deadliest epidemics: HIV, TB, and malaria
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COP30 deal under threat as nations clash over fossil fuels
The draft text unveiled by COP30 host Brazil made no mention of "fossil fuels" or the word "roadmap" that President...
Geostrategy
Company News
Latest News
Saudis part ways with coach Mancini after a run of poor results
Riyadh, Saudi Arabia -- Saudi Arabia's football body said it was ending the contract of national coach Roberto Mancini after 14...
Arts & Culture
Israel to send negotiators to new Gaza truce talks in Qatar
The head of Israel's Mossad spy agency, David Barnea, will head to Qatari capital Doha on Sunday, the Israeli prime...
Geostrategy
Bridging skills gap: UAE, Singapore lead the way
The two countries have adopted a people-centric and collaborative upskilling approach, says Till Leopold, Interim Head of Knowledge Communities at...
Interview
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Interview
WEF Dubai: UAE fosters global dialogue
The UAE has agile governance and it is not beholden to short-termism, Maroun Kairouz, Head of Regional Agenda for the...
- This year’s knowledge-share platform touched on a wide range of socio-economic challenges, from the ongoing humanitarian crises in the region to the shifts reshaping GCC industries
- Kairouz calls for a unified regional vision that can inspire a positive outlook on the future and provide alternatives to the deprivation that plague parts of the Middle East
Economy
IMF predicts slightly slower global growth in 2024 and 2025
In its new World Economic Outlook (WEO) report, the International Monetary Fund also estimates that global inflation will continue to...
- "In our baseline analysis, in advanced economies (inflation) will be back at central bank targets in 2025," he said.
- The IMF expects growth in the Middle East and Central Asia to pick up slightly to 2.4% in 2024, before jumping to 3.9% in 2025 as the effect of oil and shipping disruptions fades.
Business
ADNEC to acquire ‘Royal Catering’
Royal Catering has more than 2.500 employees.
- Serving key industries such as energy, defense, healthcare, and education, Royal Catering has earned a reputation for delivering high-quality services across the UAE.
- The addition of Royal Catering will expand Capital Catering’s industry focus from aviation, defense and healthcare and increase its production capacity