Turkey starts supplying Azerbaijani gas to boost Syria’s power output
Istanbul, Turkey - Turkey on Saturday turned on a supply of natural gas from Azerbaijan to Syria, whose infrastructure was...
Geostrategy
Musk creates America Party to challenge US’s ‘one-party system’
The world's richest person -- and Trump's biggest political donor in the 2024 election -- had a bitter falling out...
Geostrategy
Business
Emirates NBD posts record Q1 profit
The bank's total income exceeded AED 10bn for the first time.
- The bank said healthy sector liquidity helped deposits grow by AED 35 billion or 7 percent including a further AED 19 billion increase in current and savings accounts.
- The records profits for the first quarter were attributed to higher margins, growing non-funded income and lower cost of risk on recoveries.
Business
Japan targets 30 percent women executives at major firms by 2030
Women represented only 11.4% of executives in major firms in Japan in 2022, according to a survey, although the figure...
- Japan is struggling to improve gender gaps in leadership positions, notably in politics and in the upper echelons of business, as well as the wage gap between men and women workers
- The country ranks consistently low in the World Economic Forum's Global Gender Gap report. Japan was placed 116th out of 146 ranked in 2022.
Economy
King Abdullah calls for uplift in investment environment in kingdom
Amman, Jordan-- Jordan's King Abdullah has called for enhancing the investment environment in the kingdom in order to propel economic...
- The king stressed the need for creation of procedures for investors, and to improve integration between ministries and institutions
- The kingdom's investment ministry will soon launch an online portal with all information on investment opportunities in priority sectors
Business
OPEC Fund to support SMEs in Paraguay with US$50mn funding
Vienna, Austria— Continuing with its initiative to support businesses across the world, the OPEC Fund for International Development (the OPEC...
- OPEC Fund Director-General Abdulhamid Alkhalifa said that supporting food-exporting countries like Paraguay is vital for global food security
- The fund set up its Food Security Action Plan in 2022, alloting US$1 billion for providing assistance in order to cover the import costs of grains and fertilizers
Economy
Private sector sees 13% increase in Emirati workers
More than 10,500 Emiratis have joined the private sector since the beginning of 2023, bringing the total number of Emiratis...
- More than 10,500 Emiratis have joined the private sector since the beginning of 2023, bringing the total number of Emiratis employed in the private sector to over 66,000
- Trends point to a positive job market outlook as employment experts predict an average increase of 2-5 percent in employee salaries in 2023, varying by sector and role
Geostrategy
Proposed judicial overhaul threatens Gulf investment in Israel, Abraham Accords: Experts
The weakening of the judiciary and concentration of power will harm the high tech sector, deter foreign investment and make...
- The leaders of the high tech industry worry that, after the overhaul, there won’t be independent courts to protect investments
- High tech is the main growth engine of the Israeli economy, accounting for nearly half of the country's exports in 2022
Business
China becomes first Asian country to get a share of Qatar’s landmark natural gas field
Doha, Qatar: Chinese oil giant Sinopec on Wednesday became the first Asian firm to get a stake in Qatar's expansion...
- North Field contains the world's biggest natural gas reserves and extends under the Gulf into Iranian territory
- China is already the biggest customer for Qatar's liquefied natural gas and one of the world's top LNG importers
Business
DEWA, Siemens Energy discuss enhancing cooperation
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer discussed enhancing cooperation...
- DEWA is implementing clean and renewable energy and water desalination projects.
- The firm attaches great importance to research in sustainable and renewable energy.
Business
Swiss federal prosecutors probe UBS takeover of Credit Suisse
Geneva, Switzerland--Swiss federal prosecutors said Sunday that they had opened an inquiry into the UBS takeover of its embattled banking rival...
- According to prosecutors, investigation will look to ensure that the country's financial center remains "clean" and spot any criminal offenses
- Both the financial giants, UBS and Credit Suisse, belong to a select group of lenders deemed very vital to the global banking system
Economy
UAE Central Bank projects 4.3% GDP growth in 2024
The bank cited the real estate and construction sectors as key drivers, as well as a dynamic manufacturing sector, like...
- As for inflation, the review projects it to decelerate to 3.2 percent in 2023, “on the back of softer price increases in all categories."
- Oil production is expected to moderate in line with the OPEC+ agreements but the non-oil sector is anticipated to continue to grow
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
Turkey starts supplying Azerbaijani gas to boost Syria’s power output
Istanbul, Turkey - Turkey on Saturday turned on a supply of natural gas from Azerbaijan to Syria, whose infrastructure was...
Geostrategy
Company News
Latest News
Lebanon urges DNA tests to identify missing in Israel strikes
Families should head to centers affiliated with the Judicial Police "to conduct DNA tests", the police said in a statement....
Geostrategy
Saudi leisure tourism surges by 656% in 2024: Tourism Ministry
Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector, particularly the leisure and holiday segments, witnessed substantial growth in 2024.In a...
Business
Lebanon may be seeing ‘largest displacement’ ever: PM
Prime Minister Najib Mikati said that "the estimated number is very high and may reach one million" -- which would...
Business
Most Read
Saudi Arabia announces coalition to push for Palestinian state
Prince Faisal bin Farhan said the "International Alliance to Implement the Two-State Solution" included Arab and Islamic countries, as well...
- Saudi Arabia paused US-brokered talks on recognizing Israel after the Hamas attack on Israel and the genocidal Israeli assault on Gaza.
- The hard-right Israeli government of Prime Minister Benjamin Netanyahu remains implacably opposed to Palestinian statehood.
Geostrategy
World’s first CO2 storage service soon ready in Norway
Øygarden, Norway -- Norway inaugurated Thursday the gateway to a massive undersea vault for carbon dioxide, a crucial step before opening...
- The Northern Lights project plans to take CO2 emissions captured at factory smokestacks in Europe and inject them into geological reservoirs under the seabed.
- The aim is to prevent the emissions from being released into the atmosphere, and thereby help halt climate change.
Business
UAE captures 30% of Middle East cinema market share in 8 months
Abu Dhabi, UAE -- The UAE cinema sector achieved revenues of AED 517 million during the first eight months of...
- UAE cinemas attracted about 11 million visits to cinemas, the Emirates Media Council revealed.
- The country's cinema sector includes 702 screens spread across 72 locations and caters to more than 200 nationalities.