Israel receives bodies of two more hostages returned by Hamas
The issue of hostage bodies still in Gaza has become a sticking point in the ceasefire implementation, with Israel linking...
Geostrategy
Trump’s Gaza plan wins Netanyahu backing, but hinges on Hamas disarmament
The plan calls for a ceasefire, release of hostages by Hamas within 72 hours, disarmament of Hamas and gradual Israeli...
Business
Book industry needs to focus more on sustainability
She was highlighting key industry challenges such as environmental pressures and rising costs, during the opening of the Sharjah International...
- Prominent booksellers, publishers, and experts from 69 countries participate in Sharjah International Booksellers Conference, which facilitates discussions on industry trends
- Sustainability, generative AI, industry transformation remain prime focus of the discussion as Sharjah emphasizes the importance of collaboration and effective communication
Business
Aramco, PIF and Baosteel to build Saudi Arabia’s first steel plate plant
It will be the largest integrated steel plate manufacturing complex in the kingdom to be located in Ras Al Khair...
- The production capacity is expected to be up to 1.5m tons per annum. The complex will have premium facilities such as natural-gas-powered direct reduction iron furnace.
- Aimed primarily at meeting the needs of the Saudi market, there are plans to export to the Gulf Cooperation Council and MENA region.
Business
Saudi ports handle more than 2 million containers in first quarter
Riyadh, Saudi Arabia -- The number of containers handled by Saudi ports in the first quarter of 2023 grew by...
- Transshipment containers witnessed an increase of 14.96 percent and 778,056 containers compared to 676,826 containers in the first quarter of 2022.
- A total of 258,051 cars were imported, an increase of 35.52 percent over the first quarter of the previous year, which recorded 190,422 cars.
Business
Trina Solar revenue up 83%
Trina's market share of 210mm module shipments was more than 50%.
- Trina Solar’s main businesses, including PV products, PV systems and smart energy, all registered strong growth, the company said in a statement.
- The company also unveiled that its module shipments in 2022 totaled 43.09GW and cumulative module shipments exceeded 140GW by the end of March 2023.
Geostrategy
UN holds Afghanistan crisis talks in Qatar, without Taliban
Envoys from the United States, China and Russia as well as major European aid donors and key neighbors such as...
- Women have been barred from most secondary education and universities and prevented from working in most government jobs as well as UN agencies and NGOs.
- The UN said the meeting "is intended to achieve a common understanding” on how to engage with the Taliban" on women's rights, inclusive governance, countering terrorism.
Business
Small reactor startups vie to push US into new nuclear era
Small modular reactors -- or SMRs -- similar to the ones currently powering submarines, are touted as the future of...
- Americans remain divided on the use of nuclear energy, although the percentage of those who oppose it has fallen from 54 percent in 2016 to 47 percent in 2022, according to poll.
- Despite the Biden administration's stated support for nuclear power, there are no new projects underway for any traditional nuclear reactors.
Business
Arab Bank Q1 profit $216m
The first-quarter profit increased by 30% compared to Q1 2022.
- The Group's total equity was $10.4 billion as loans grew to $35.4 billion and deposits reached $47.7 billion.
- Excluding the impact of devaluation of several currencies against the US dollar, loans and deposits grew by 3 percent and 4 percent, respectively.
Geostrategy
Iran’s President Raisi to visit Damascus as Jordan hosts Syria meet
The visit comes against the backdrop of a rapprochement between regional rivals Iran and Saudi Arabia, and increased Arab engagement...
- Monday's meeting in Amman will bring together foreign ministers from Egypt, Iraq, Jordan, Saudi Arabia and Syria to discuss ending Syria's isolation.
- Jordan called the gathering "a continuation of the consultative meeting of the countries of the GCC, Jordan, Iraq and Egypt, which was hosted by Saudi Arabia" in mid-Apri.
Economy
Qatar’s economically active population up by 3% in Q4 2022
The Labor Force Sample Survey for the October-December 2022 period shows the percentage of male and female wage workers reached...
- The number of economically active males was 95.4 percent and females 63.4 percent. The people in the 25-34 year age group were the most economically active part of the workforce.
- The percentage of unemployed people increased by 1.3 percent to reached 0.1 percent-- 51 percent of the jobseekers being males and the rest females.
Business
Inheritance, investments raise King Charles’ fortune to $754m
London, United Kingdom -- Through inheritance, royal estates and shrewd investing while a prince, Charles III will be crowned on May...
- Queen Elizabeth II bequeathed her son an estimated £360 million ($448 million) upon her death in September last year, boosting Charles's fortune to £600 million.
- Balmoral Castle in northeast Scotland, where the royal family spends its summers, and the Sandringham estate in eastern England were left to Charles.
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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
Israel receives bodies of two more hostages returned by Hamas
The issue of hostage bodies still in Gaza has become a sticking point in the ceasefire implementation, with Israel linking...
Geostrategy
Company News
Latest News
WTO predicts modest trade growth for 2024-25 amid geopolitical risks
In 2024 and 2025, inflation is expected to gradually abate, allowing real incomes to grow again in advanced economies, boosting...
Geostrategy
AviLease acquires 9 aircraft from Avolon
AviLease had purchased 13 aircraft from Avolon in 2023.
Business
ADNOC L&S to pay $136.5m dividend
This is equivalent to 6.78 fils per share, the company said.
Business
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Geostrategy
Dubai’s night beaches a cool solution to summer heat
With temperatures regularly topping 40 degrees Celsius, outdoor activities are severely limited. More than one million people have visited the...
- For residents of Dubai, a coast-hugging, desert metropolis of about 3.7 million people, the hot season from June to October is an annual trial.
- The city now has more than 800 meters (yards) of designated night beaches fitted with shark nets and illuminated by giant, bright floodlights.
Business
Casino operator Wynn wins UAE’s first commercial gaming license
Dubai, United Arab Emirates -- US casino operator Wynn has received the first commercial gaming operator's license to be issued in...
- The license was issued by the General Commercial Gaming Regulatory Authority, which was set up last year to allow for commercial gaming licenses to be issued in the Gulf Arab state
- Wynn operates casinos in Las Vegas and Boston as well as in Macau, a Chinese territory close to Hong Kong.
Business
‘TAQA’ prices $1.75bn dual tranche
The 12-year senior unsecured notes are sized $850m.
- The 7-year notes, sized at US$900 million and maturing on 9th October 2031, are conventional bonds bearing a coupon rate of 4.375 percent.
- Proceeds from these bonds will be used for general corporate purposes.