WEF’s risks report 2025: Rising geopolitical tensions, environmental threats, disinformation dominate future threats
A survey of over 900 experts reveals state-based armed conflict as the most pressing global risk for 2025, driven by...
Geostrategy
Non-institutional foreign ownership in Tadawul-listed firms up slightly
Riyadh, Saudi Arabia -- Non-institutional foreign investors increased their stake in Tadawul-listed equities, excluding Saudi Aramco, from 9.70 percent to...
Business
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...
- 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.
Geostrategy
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.
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.
Business
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.
Economy
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.
Business
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.
Business
Masdar acquires Saeta Yield
The deal is estimated to be valued at $1.4 billion.
- Saeta is a leading independent developer, owner and operator of renewable energy assets.
- Masdar recently announced an agreement with Endesa to become a portfolio asset partner for Spain's 2.5 GW renewable energy projects.
Geostrategy
Media gag and manufactured consent: Israel’s campaign against Lebanon
Beirut, Lebanon: On Sunday, Israeli troops stormed the Al Jazeera office in the occupied West Bank and issued a 45-day...
- Israel's claim last year that Gaza's largest Al-Shifa Hospital housed Hamas command center was debunked by many.
- Before launching deadly strikes on Lebanon, Israeli military released videos claiming civilian homes housed arms.
WEF’s risks report 2025: Rising geopolitical tensions, environmental threats, disinformation dominate future threats
A survey of over 900 experts reveals state-based armed conflict as the most pressing global risk for 2025, driven by...
Geostrategy
Company News
ADNOC Drilling closes JV
Business
Latest News
Musk’s AI startup raises $6bn more, Saudi and Qatari funds among investors
Paris, France -- Billionaire tech mogul Elon Musk's startup xAI said it had raised $6 billion from investors in its latest...
Business
Honda and Nissan expected to begin merger talks
Honda and Nissan were poised Monday to announce the start of talks on a merger to help the Japanese giants...
In stabilization bid, Syria’s new ruler declares all weapons under state control, including Kurdish arms
Ahmed al-Sharaa announced all weapons, including those held by Kurdish-led forces, will come under state control, emphasizing unity and coexistence...
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Geostrategy
Tunisia women herb harvesters struggle with drought and heat
In Tunisia's highlands, women harvest wild herbs to earn a living, but drought is making their work harder, shrinking incomes...
- Tunisia produces around 10,000 tons of aromatic and medicinal herbs each year, according to official figures.
- Rosemary accounts for more than 40 percent of essential oil exports, mainly destined for French and American markets.
Business
AD Ports Group secures $2.125 billion refinancing deal
The move aims to optimize financing costs.
- The deal is also aimed at extending the facility’s maturity to 2028, with an option to extend further until 2030.
- The increased facility, which was oversubscribed 2.5 times, will be used to support the Group’s short and medium-term growth objectives.
Geostrategy
UAE says will not arm Sudan paramilitary RSF: White House
Washington, United States -- The United Arab Emirates has informed the United States that it will not arm paramilitaries in Sudan's...
- Two US lawmakers said the UAE pledged to address their concerns and that, as a result, they would drop their attempt to block $1.2 billion in arms sales.
- The UAE has long denied arming the RSF, with which it has fought Yemen's Houthi rebels. Trump has shown a greater willingness to sell weapons to the UAE