Eight OPEC+ countries raise production by 547,000 bpd to regain market share
Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, along with the Saudis and Russians currently produce about 41-42 mbd.
Geostrategy
Gaza truce talks: Netanyahu says sending a team to Qatar after Hamas nod
But Netanyahu, who is due to meet with President Donald Trump in Washington on Monday, said the Palestinian group's proposals...
Geostrategy
Geostrategy
Ben-Gvir, Israel’s powerful extreme-right leader
Elected to parliament in April 2021, Ben-Gvir heads the Jewish Power party and has spent years campaigning for the extreme...
- With his round glasses and white kippa placed crookedly atop his greying hair, 46-year-old Ben-Gvir presents an affable figure
- But to his detractors, the lawyer turned lawmaker is a pyromaniac whose politics threaten to set the country ablaze
Economy
Reviewed: Strategies to promote wellbeing in the UAE
She was attending the Government Network Meeting of Happiness and Well-being CEOs, which seeks to align the efforts, initiatives and...
- The meeting reviewed the healthy wellbeing strategy plan which included several initiatives aimed at enhancing well-being governance and improve health
- The strategic plan focuses on a set of programs that promote a healthy well-being of the UAE residents in line with the National Well-being Strategy 2031
Business
Equal fee for India’s men and women cricketers
Match fees are however separate from annual pay packets -- there will still be enormous differences between what men and...
- Board of Control for Cricket in India (BCCI) secretary Jay Shah said, "We are implementing pay-equity policy for our contracted @BCCIWomen cricketers."
- Shah said that men and women players will now get 1.5 million rupees ($18,000) for each Test, 600,000 rupees for one-day internationals and 300,000 rupees for T20 internationals.
Business
Saudi energy minister blasts release of oil reserves ‘to manipulate markets’, warns of ‘painful’ times
"People are depleting their emergency stocks ... its profound purpose was to mitigate the shortage of supply," says Prince Abdulaziz...
- Prince Abdulaziz did not single out the US, but last week US President Joe Biden announced he was putting the final 15 million barrels on the market.
- That tranche was to complete a 180-million-barrel release authorized in the spring, in response to price hikes linked to Russia's invasion of Ukraine.
Economy
Qatar urges separating politics from the oil and gas trade
Qatar energy minister also called on governments and multilateral institutions to condemn sabotage and military attacks on energy infrastructure or...
- Qatar energy minister also called on governments and multilateral institutions to condemn sabotage and military attacks on energy infrastructure or electricity networks
- He also sought transition to low-carbon energy through a realistic mix of energy sources, including hydrocarbons, renewable energy, biofuels, nuclear power and hydrogen
Geostrategy
Iran signs contract with Russia to supply it with 40 turbines
Tehran, Iran— Iran announced Sunday a contract with Russia to supply it with 40 turbines to help its gas industry amid...
- Iran did not specify when the contract was signed, and when the turbines are due to be delivered
- Russia and Iran hold some of the world's largest gas reserves, and are both under strict US sanctions
Geostrategy
President Raisi of Iran accuses Joe Biden of “inciting chaos”
Accusing the US President Joe Biden of "inciting chaos" after he expressed support for protests in Iran, President Ebrahim Raisi...
- The street violence has led to dozens of deaths, mostly among protesters but also among the security forces, and hundreds have of demonstrators been arrested
- Biden had said Friday that "we stand with the citizens, the brave women of Iran
Economy
US President terms UK PM’s abandoned tax plan a “mistake”
Reacting to British PM Liz Truss's abandoned tax cut reform, US President Joe Biden has termed it a "mistake" as...
- Truss is set to sit down on Sunday with new finance minister Jeremy Hunt, who said she and Kwarteng had erred on September 23 in trying to cut taxes for the highest earners
- Hunt said that some taxes will not be cut as quickly as people want and that some of the taxes will go up
Geostrategy
Dubai records 65% decline in crime reports during Q3
Dubai, UAE—Dubai Police has recorded a 65 percent drop in the number of criminal reports during the third quarter of...
- The statistics were revealed during the quarterly appraisal meeting of the General Department of Criminal Investigations (CID)
- Lt. Gen. Al Marri, head of Dubai Police, commended the efforts made by the dedicated officers and employees of the CID to apprehend the perpetrators of crimes
Business
Retal’s stock rises 2.4%
It will build 550 housing units in Riyadh for $161m.
- Retal said in a bourse filing that the project is expected to positively affect the company’s results after the sale begins and the project is completed
- Last month, Retal and National Housing signed another agreement to build 759 housing units in Riyadh
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
Eight OPEC+ countries raise production by 547,000 bpd to regain market share
Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, along with the Saudis and Russians currently produce about 41-42 mbd.
Geostrategy
Company News
Latest News
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,...
Business
TAQA launches new corporate identity
Abu Dhabi Energy Services will be renamed as TAQA Services.
Business
Gaza rescuers say Israeli strike on house kills 11, including children
"We have recovered the bodies of 11 martyrs, including four children and three women, after an Israeli warplane hit a...
Geostrategy
Most Read
Business
Stock markets rise, gold hits record high as US rate cut nears
More data this week suggesting the Federal Reserve was winning the battle against inflation provided an extra kick for global...
- Investors are focused on the highly anticipated Fed meeting after data this week showed US consumer inflation slowed more than expected in August to 2.5 percent.
- The Fed cut rates early in the pandemic, then began hiking in 2022 as inflation rose, pushing rates to a 20-year high.
Business
Aramco Digital, Groq to build world’s largest AI inferencing data center
Riyadh, Saudi Arabia -- Aramco Digital Company and Groq, a leader in artificial-intelligence (AI) inference, have announced their partnership to...
- The announcement was made on the sidelines of the Global AI Summit (GAIN Summit), which concluded in Riyadh on Thursday.
- The facility will process 5.28 million tokens per second by the end of 2024 and 53 tokens per second by 2025.
Business
Dubai tourism shines: 25 percent repeat visitors, rising AI use
Dubai, UAE -- Dubai Corporation for Tourism and Commerce Marketing (DCTCM) has confirmed that 25 percent of visitors to Dubai...
- The high return rate is a proof that visitors are happy with what we offer them, said Issam Kazim, CEO of DCTCM.
- He added that the use of artificial intelligence can remove daily routine tasks and allow individuals to focus on the most important work.