Hamas back on Gaza streets, acts against gangs and armed clans
For many Palestinians rebuilding their homes and lives amid Gaza's rubble, the sight of the Hamas forces was reassuring. Many...
Geostrategy
Human ancestor Lucy gets first European showing in Prague
Prague, Czech Republic --The 3.18-million-year-old bone fragments of human ancestor Lucy, which rarely leave Ethiopia, went on display in Prague...
Science
Business
Tunisia’s president seeks phosphate revival to counter economic woes
Tunis, Tunisia -- President Kais Saied has called for the revival of Tunisia's phosphate industry, suggesting he will seek alternative sources...
- Saied has previously called for a revival of phosphate production, one of the North African country's few natural resources often used for agricultural fertilizer.
- Gafsa Phosphate Company (CPG), a former flagship of the Tunisian economy, has seen its production collapse since the 2011 revolution due to a lack of investment and unrest.
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 -Â 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
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
Hamas back on Gaza streets, acts against gangs and armed clans
For many Palestinians rebuilding their homes and lives amid Gaza's rubble, the sight of the Hamas forces was reassuring. Many...
Geostrategy
Company News
ADNOC Gas awards $550m contracts
Business
Latest News
Libya’s eastern administration lifts oil production, export blockade
The Benghazi-based administration, which controls most of Libya's oilfields, said in a Facebook post it was "lifting the force majeure...
Geostrategy
Israel declares UN chief ‘persona non grata’ over Iran attack response
"Anyone who cannot unequivocally condemn Iran's heinous attack on Israel does not deserve to step foot on Israeli soil," said...
Geostrategy
Most Read
Business
Covestro accepts ADNOC takeover bid
The deal values German chemicals group at $13.3bn.
- Under the terms of the agreement, valid until the end of 2028, ADNOC will make an offer for all remaining Covestro stock at a price of 62 euros per share.
- ADNOC will also inject around 1.2 billion euros into the chemicals firm through the issuance of new shares, once the deal is completed.
Economy
Abu Dhabi non-oil GDP up 6.6% in second quarter: SCAD
Abu Dhabi, UAE -- Abu Dhabi's GDP increased by 4.1 percent during the second quarter of 2024, compared to the...
- The construction sector achieved remarkable growth rates of 11.5 percent in the second quarter of 2024, compared to the same period in 2023.
- It is estimated that the financial sector grew by 13.4 percent in the second quarter of 2024, compared to the same period in 2023.
Business
Foreigners and institutions pour $4.9 billion into UAE equities
Abu Dhabi, UAE -- Net investments by foreigners and institutions in UAE equities amounted to AED 18.3 billion ($4.9 billion)...
- Foreign investors "Arab and non-Arab" achieved net purchases in the two markets worth 15.5 billion dirhams during the same period.
- Institutions have achieved a net investment in the Abu Dhabi Securities Exchange worth more than AED 1.6 billion.