Saudi Arabia, UAE rank among top 20 nations globally for AI talent density
With the goal of becoming one of the world’s top 10 countries in AI research and application by 2030, Saudi...
Economy
Business
ADNOC Drilling to acquire rigs
The two offshore jack-up rigs will be bought for $200 million.
- Since listing on the Abu Dhabi Securities Exchange in October 2021, ADNOC Drilling has expanded its fleet from 95 to 108 owned rigs, as of 30th September, 2022.
- This rig purchase adds to earlier deals for a total of nine rigs signed in 2022 and four rigs acquired in 2021.
Economy
Qatar posts budget surplus of $8bn in third quarter
Doha, Qatar - Qatar posted a budget surplus of QR 30 billion ($8 billion) for the third quarter of 2022,...
- Total revenues for this quarter amounted to $22 billion, of which $21 billion came from oil and gas
- Total expenditures in the quarter amounted to $14 billion, of which $4 billion was spent on salaries and wages
Business
BEEAH inks three-way pact
The three firms will produce fuel cell grade hydrogen from waste.
- The three firms will form a consortium that will advance progress on the Middle East’s first waste to hydrogen plant, located in Sharjah.
- The plans for the plant include an on-site green hydrogen dispensing station capable of fuelling several vehicles.
Business
DEWA receives 29 EOIs for first phase of desalination project at Hassyan
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received 29 expressions of interest (EOIs) to implement the first...
- This is the first project implemented by DEWA using the Independent Water Producer model, which will run in phases during 2025 and 2026.
- The firm uses clean solar power to desalinate seawater using the latest Reverse Osmosis technologies, which consume less energy.
Economy
World Cup victory over Spain makes Morocco the ‘pride’ of Arab fans
Doha, Qatar— Thousands of Morocco fans descended on the streets of Doha to celebrate their country becoming the first Arab...
- The victory over Spain became a celebration of "Arab pride" for supporters from across the region
- Saudis, Qataris and Egyptians joined the celebrations, waving their countries' flags in the traditional market as police gathered around the edge
Economy
Turkey inflation slows for first time since 2021: official
According to a respected monthly study released by independent economists from Turkey's ENAG research institute, the annual rate of consumer...
- The rate slowed to 84.39 percent, according to state statistics agency TUIK, down from 85.51 percent in October
- Turkey's inflation has steadily risen since reaching a low of 16.6 percent in May 2021
Science
Indonesia villagers race to escape eruption as sky turns black
LUMAJANG, INDONESIA - Thousands of villagers living near Indonesia's Mount Semeru were racing for refuge Sunday to the wail of...
- Locals fled on motorbikes sometimes three at a time as a mushroom cloud of ash approached and monsoon rains lashed the area in East Java.
- Indonesian authorities raised their alert level for the volcano to its highest after the crater spewed hot ash a mile into the sky.
Geostrategy
Iran rapper Toomaj Salehi could face death penalty: Judiciary
Tehran, Iran---An Iranian rapper who expressed support for anti-regime protests is charged with "corruption on earth" and could face the...
- A US-based rights group had tweeted on Saturday that Toomaj Salehi's trial had begun "without a lawyer of his choice", and his family said his "life is at serious risk".
- Iran's judiciary says more than 2,000 people have been charged since the start of the protests. Salehi is among a number of prominent figures detained.
Asian federation chief dismisses criticism of Qatar’s rights record
The AFC chief lavished praise on the Gulf country's organisation of the tournament."The organisation is luminous, the environment is positive,"...
- AFC chief Sheikh Salman bin Ibrahim Al-Khalifa launched a sharp attack on Qatar's critics
- L1, Asian Football Confederation, business, World Cup host, Qatar, human rights record, Gulf, tournament.
Business
Global intellectual property filings reached new records in 2021: WIPO
The latest data shows “continued and sustained growth” in intellectual property filings, “driven largely by increases from Asia.
- The latest data shows “continued and sustained growth” in intellectual property filings, “driven largely by increases from Asia
- Up by 5.5 percent, China and India showed strong growth in local patent filings along with South Korea, which jumped 2.5 percent
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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
Company News
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DCO launches Digital Economy Navigator to bridge global digital gap
The navigator enables countries to better navigate their digital journeys, find opportunities for growth and benchmark progress,
Geostrategy
Researchers decode oldest human DNA
The genetic sequences were from a man and a woman whose remains were found at a rock shelter near the...
Science
Global tourism nears full recovery, led by Middle East’s 26% growth in 2024
While Europe and Americas have nearly returned to pre-pandemic levels, the Middle East's growth outpaces all other regions, UN World...
Business
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Business
UAE banks’ Q2 investments in Islamic certificates, cash bills surge to $61.81bn
The banking sector in the country maintained strong capital adequacy, exceeding Basel 3 requirements, according to the Central Bank.
- Statistics showed that the foreign assets of the Central Bank increased by 5.3 percent year-on-year to reach AED 770.6 billion.
- The total capital and reserves of banks operating in the UAE increased by 3.9 percent to AED 495.2 billion at the end of the second quarter.
Business
Middle East renewable energy projects investments reach $75bn
London, UK -- The Middle East is moving towards investing $75.63 billion in renewable energy projects until 2030, according to...
- These investments include 116 renewable energy projects, which are expected to be operational between 2025 and 2030.
- Large solar projects, such as the fifth phase of the Rashid bin Mohammed Al Maktoum Solar Park, are making significant progress.
Business
Europe’s Electric Vehicle troubles bubble up at Brussels Audi factory
Brussels, Belgium -- Outside an Audi factory in Brussels described by the German carmaker as the "cradle" of its electric drive,...
- The firm is considering closing the plant, a move that analysts say is symptomatic of the troubles afflicting Europe's wider electric car industry, amid low demand and competition.
- With 3,000 jobs on the line, the Brussels workers have launched a prolonged strike, with a large demonstration planned in the capital on Monday and walkouts elsewhere in solidarity