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Honda shares soar 16%

The surge came after the auto giant announced a $7bn buyback.

Mubadala acquires stakes from GHH

It acquired an 80 percent stake in Global Medical Supply Chain.

ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

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....
  • Israel has heavily bombed Lebanon's east, south and southern Beirut suburbs
  • Health Minister Firas Abiad said bodies and body parts were still under the rubble

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...
  • The Kingdom welcomed 17.5 million international tourists between January and July 2024, a 10 percent increase over the same period in 2023
  • The Kingdom had set the goal of 100 million tourists by 2030, but achieved this milestone in 2023, seven years ahead of schedule.

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...
  • On Friday, Israel killed Hezbollah's leader Hassan Nasrallah in a move many fear risks destabilizing Lebanon and the wider region.
  • Since Monday, intense Israeli attacks across Lebanon's east, south and on southern Beirut have killed hundreds of people and forced many to flee their homes.

Israeli air strikes hit densely populated Hezbollah bastion in Beirut

The strikes were by far the largest in scale. Iran embassy in Lebanon warns that the strikes 'change the rules...
  • Hezbollah chief Hassan Nasrallah was unharmed in the strikes, after Israeli television networks reported he was the target.
  • Israel's aerial bombardment of Hezbollah strongholds around Lebanon has killed around 700 people this week alone.

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.

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.

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.

Saudi non-oil exports increase by 19 percent in July: GASTAT

Riyadh, Saudi Arabia -- Saudi Arabia's non-oil exports, including re-exports, during July 2024 amounted to SAR25.4 billion ($6.76 billion), compared...
  • The value of merchandise exports increased during July 2024, reaching SAR94.5 billion, compared to SAR92.6 billion during July 2023, an increase of SAR1.9 billion, or 2.1 percent.
  • The value of oil exports during July 2024 amounted to SAR69.1 billion, compared to SAR71.3 billion during July 2023, a decrease of SAR2.2 billion, or 3.1 percent.

OECD raises growth forecast, calls for higher property taxes

Paris, France -- The OECD on Wednesday slightly raised its world economic growth forecast for 2024 but called for higher property...
  • The Paris-based organization said global gross domestic product would expand by 3.2 percent, compared to 3.1 percent in its previous forecast.
  • While it raised the world GDP outlook, the OECD sounded the alarm on rising debt, urging governments to make "stronger efforts" to contain spending and raise revenue.

UAE’s e& bends to European Union foreign subsidy rules

Brussels, Belgium -- The European Commission gave the green light Tuesday for an Emirati group to acquire the assets of a...
  • The European Commission approved Emirates Telecommunications' acquisition of PPF Telecom's assets after securing concessions to avoid competition distortion.
  • The deal, scrutinized under new EU rules on foreign subsidies, ensures fair competition by limiting future state aid and financing in the EU.

Saudi tourism sector employee number rises by 5.1 percent in second quarter

Riyadh, Saudi Arabia – The number of employees in tourism-related activities in Saudi Arabia increased by 5.1 percent in the...

Latest News

Desertification talks open in Saudi Arabia as experts fire warning

UN talks aimed at halting the degradation and desertification of vast swathes of land start in Saudi Arabia. Forest loss...

Gulf summit in Kuwait urges ‘immediate ceasefire’ for Gaza

Kuwaiti Emir Sheikh Meshal al-Ahmad al-Sabah called on the international community to implement "an immediate ceasefire, providing international protection for...

Trump threatens 100% tariff on BRICS countries over currency plans

Washington, United States -- President-elect Donald Trump on Monday threatened to impose a 100 percent tariff on the BRICS group nations...

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Turkish-backed jihadists breach Aleppo, displacing thousands and cutting vital highway to Damascus

By Friday, the jihadists and their allies had taken more than 50 towns and villages in the north and entered...
  • The fighters took control of "half of the city of Aleppo" as regime forces withdrew, according to the Syrian Observatory for Human Rights
  • The offensive began on Wednesday, the same day that a fragile ceasefire took effect in neighbouring Lebanon between Israel and Hezbollah

Okonjo-Iweala’s second term: Trump’s disdain for WTO biggest challenge

Ngozi Okonjo-Iweala, the first woman and the first African to head the WTO, is the only candidate in the race,...
  • Her term ends in August 2025, and the appointment process expected to lead to her next term had initially been scheduled to take months.
  • During Trump's first term, the WTO also faced relentless attacks from his administration, which crippled the organization's dispute settlement appeal system.

Crypto boss Justin Sun eats banana art he bought for $6.2 million

Hong Kong, China -- Crypto entrepreneur Justin Sun on Friday fulfilled a promise he made after spending $6.2 million on an...
  • Titled "Comedian", the conceptual work created by Italian artist Maurizio Cattelan was sold at a Sotheby's auction in New York last week, with Sun among seven bidders.
  • Sun this week also became an advisor to World Liberty Financial, a crypto initiative backed by US president-elect Donald Trump, following a $30 million investment.