Carney’s UAE mission: A new era for Canada’s global trade ambitions
The latest visit of the Canadian PM is a part of his efforts to find new markets for his nation’s...
Geostrategy
OpenAI unveils ChatGPT app integration feature
San Francisco, United States - OpenAI on Monday unveiled a new feature for ChatGPT, the leading generative AI model with...
Business
Geostrategy
Iran arrests energy firm managers for backing workers’ strike
Tehran, Iran -- Iranian authorities have arrested managers at a major petrochemical company for backing a workers' strike over pay...
- The offshore South Pars field in the Gulf -- the world's largest known gas reserve, which Iran shares with Qatar -- employs some 40,000 workers.
- In April, an official in charge of the Islamic republic's oil and gas sector in Bushehr province said 4,000 of the workers on strike would be replaced.
Business
Lufthansa expects summer boom
The group's first quarter loss dipped to $515m from $644m a year ago.
- Revenues rose by 40 percent to seven billion euros for the period, as 22 million passengers boarded Lufthansa group's planes between January and March.
- Capacity had already grown to 75 percent of the pre-Covid level in 2019 and was up 30 percent from the previous year.
Press freedom under attack everywhere: UN, media
The rise of disinformation and hate speech threatens truth, while journalists continue to face harassment, intimidation, and imprisonment, highlight UN...
- Speaking ahead of World Press Freedom Day on Wednesday, UN Secretary-General Antonio Guterres issues a rallying cry for journalists and media worldwide
- "All our freedom depends on press freedom," he said in a video message, calling it the "foundation of democracy and justice" and the "lifeblood of human rights."
Business
Samsung bans use of ChatGPT for mobile, appliances staff
Seoul, South Korea -- Samsung Electronics is banning employees in its mobile and appliances division from using generative AI services such...
- Major financial firms, including Goldman Sachs, have banned or restricted employees' use of ChatGPT-like platforms in recent months.
- More than 60 percent of Samsung staff said in an internal survey there were security risks with using generative AI platforms with company devices.
Business
Bahrain central bank’s sukuk oversubscribed by 403 percent
Manama, Bahrain -- The Central Bank of Bahrain (CBB) announced that the monthly issue of the short-term Islamic leasing bonds,...
- Subscriptions worth BD 104.778 million ($277 million) were received for the BD 26 million issue, which carries a maturity of 182 days.
- By March 23, the total outstanding value of government treasury bills reached BD2 billion ($5.3 billion).
Economy
Qatar’s Q1 private sector exports hit $2.49 billion, up 17.5%
Doha, Qatar -- Qatar's private sector exports hit QR 9.1 billion ($2.49 billion) in the first quarter of 2023, representing...
- China was the top recipient of Qatari private sector exports amounting to QR 3.1 billion, a share of 34.1 percent.
- It is followed by India with almost QR 2.4 billion and a share of 26 percent, and Oman with about QR989 million, a share of 10.9 percent.Â
Business
Amarenco acquires Spectrum International
The acquisition includes all operating projects and pipeline of Spectrum.
- Following the acquisition, Spectrum will be rebranded as Amarenco Jordan, becoming the main platform for Amarenco MENA in Jordan, with a target to own 200MW.
- The company develops, builds, and operates large and medium-scale solar projects, with more than a billion dollars of investments on average every year.
Geostrategy
Khader Adnan becomes first Palestinian to die of hunger strike
His Tuesday death came during his 13th stint in Israeli custody, with nearly eight years of his life spent behind...
- In 2012, a 66-day hunger strike turned Adnan into a national hero, and revitalized hunger striking as a form of protest among Palestinians incarcerated in Israeli jails.
- His widow, Randa Mousa, warned against retaliation. "We don't want someone to launch rockets and then (have Israeli) strikes (on) Gaza," she told reporters.
Geostrategy
COP28 chair Sultan Al jaber urges tripling of renewables capacity
Al Jaber's call marked a public endorsement of a target laid out by the International Energy Agency. Last month at...
- Rather, the COP28 chair said the focus must be on removing the emissions they produce while stepping up renewables.
- Al Jaber also called on developed countries to deliver a long promised $100-billion climate package for developing countries.
Business
Dubai directs service providers to declare local sea container charges
Dubai, UAE -- Container service providers in Dubai will now be required to declare their local sea container charges to...
- Effective from 1st May 2023, the new directive will provide the DMA with a clear data-led understanding of local sea container charges and associated practices, WAM reported.
- The directive applies to all service providers providing local sea container services within, outside, or through any port in the emirate.
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
Carney’s UAE mission: A new era for Canada’s global trade ambitions
The latest visit of the Canadian PM is a part of his efforts to find new markets for his nation’s...
Geostrategy
Company News
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World merchandise trade to rise by 2.7% in 2024: Global Trade Outlook
There was a 2.3% year-on-year increase in the first half of 2024 and WTO economists anticipate the volume will increase...
Economy
Japanese group wins peace Nobel, says Gaza like Japan 80 years ago
Nihon Hidankyo, a grassroots movement of atomic bomb survivors from Hiroshima and Nagasaki, also known as Hibakusha, received the honor...
Geostrategy
UN probe accuses Israel of seeking to ‘destroy’ Gaza healthcare
"Israel has perpetrated a concerted policy to destroy Gaza's healthcare system as part of a broader assault on Gaza," the...
Geostrategy
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Business
AviLease acquires 9 aircraft from Avolon
AviLease had purchased 13 aircraft from Avolon in 2023.
- AviLease aircraft portfolio now comprises 167 owned aircraft, including purchase commitments, and 23 managed aircraft on lease to 48 airlines globally.
- AviLease said the acquired portfolio offers attractive yields and further contributes to the diversification of its portfolio.
Business
ADNOC L&S to pay $136.5m dividend
This is equivalent to 6.78 fils per share, the company said.
- The Company intends to distribute a total dividend amount of $273 million (AED1,002.6 million) for the full year.
- The H1 2024 dividend will be paid to shareholders who own ADNOC L&S shares on the record date of 17th October 2024.
Geostrategy
October 7 anniversary: Hamas praises ‘glorious’ moment in its resistance, Netanyahu says ‘we will win’
Hamas called the Palestinian resistance a testament of resilience against Israeli aggression, while Netanyahu reaffirmed Israel's commitment to crush Hamas...
- Last year's October 7 attack resulted in the deaths of 1,205 people, according to an AFP tally based on Israeli official figures that include hostages killed in captivity
- At least 41,870 Palestinians, a majority of them civilians, have been killed in Israel's military campaign in the Gaza Strip since the war began