Fifth Aramco facility receives WEF Global Lighthouse Network tag
Dhahran, Saudi Arabia -- Aramco's North Ghawar Oil Producing Complex has become the company's fifth facility to be added to...
Business
ADNOC Gas awards contracts
The $2.1bn contracts are aimed at enhancing LNG supply infrastructure.
Business
Economy
Global stock markets wobble as investors weigh US jobs data
Since US Federal Reserve Chairman Jerome Powell stated last month that the time for interest rates to begin coming down...
- Another big miss for August would have solidified perceptions that the US economy is slowing more sharply than initially thought.
- Government data showed Friday the world's biggest economy added 142,000 jobs last month, an increase from July's figure which was revised notably lower to 89,000.
Geostrategy
German foreign minister heads to Middle East in Gaza truce push
The talks will focus on "the dramatic situation in the region", and especially to discuss the issue of coordinating humanitarian...
- Pressure has mounted on Israeli Prime Minister Benjamin Netanyahu to agree to a deal to end the fighting
- Baerbock will set off Wednesday evening for Saudi Arabia where she will hold talks with Foreign Minister Faisal bin Farhan Al-Saud
Geostrategy
Biden, unions pile pressure on Netanyahu for hostage release deal
Jerusalem -- Pressure mounted Monday on Israeli Prime Minister Benjamin Netanyahu as a major strike was held and US President...
- A strike announced by the main trade union seeking a deal to secure the remaining captives' release had brought parts of the country to a standstill.
- Alongside the surging domestic anger, diplomatic pressure has also grown, with the US president on Monday delivering some of his strongest criticism of Netanyahu.
Business
Bahrain to introduce minimum tax for large multinationals
Beginning in January 2025, the measure will place a minimum tax of 15 percent on revenues over 750 million euros ($830...
- A small oil producer and non-OPEC member, Bahrain has sought in recent years to diversify its revenues, which, like its Gulf neighbors, is largely dependent on hydrocarbons.
- The UAE last year began taxing the profits of companies worth more than 375,000 dirhams (roughly 91,500 euros) at 9 percent.
Business
Major Qatari plant to double solar capacity by 2030: Energyminister
Doha, Qatar -- A large new solar plant planned in Qatar will double the Gulf emirate's previously projected renewable energy capacity...
- The plant will be established in Dukhan area will produce 2,000 megawatts, which is twice more than the capacity of Qatar's production of solar energy of the current projects.
- The energy minister also announced plans to more than double Qatar's urea production making the country the largest producer of the fertilizer in the world by the end of the decade
Geostrategy
Israel set for general strike after Gaza hostages found dead
"I have come to the conclusion that only our intervention can shake those who need to be shaken," Arnon bar...
- Qatar-based Hamas official Izzat al-Rishq said the six hostages were "killed by Zionist (Israeli) bombing", an accusation the military denied.
- A senior Hamas official told AFP on condition of anonymity that "some" of the six had been "approved" for release in a potential hostage-prisoner swap.
Geostrategy
COP29 finance draft: Arab nations ask developed nations to commit $441bn
Paris, France -- The UN has published a draft on climate financing due to be presented at the COP29 in November,...
- The document is the basis for negotiating an accord that is due to be reached at COP29 in Baku under Azerbaijan's presidency.
- The EU said the "collective goal can only be reached if Parties with high GHG-emissions and economic capabilities join the effort."
Geostrategy
West Bank city ‘cut off from the world’ as Israeli assault drags on
Jenin governor Kamal Abu al-Rub told AFP that even he does not know exactly what is happening inside the camp,...
- "Neither the civil defense, nor the ambulances, nor the journalists can go and see what is happening there."
- The United Nations said on Wednesday that at least 637 Palestinians had been killed in the territory by Israeli troops or settlers since the Gaza war began.
Geostrategy
Telegram boss Durov free but charged and held in France
Paris, France -- Telegram chief Pavel Durov was spending Thursday out on bail after four days of detention in France, banned...
- Durov, 39, was charged on several counts of failing to curb extremist and illegal content on the popular messaging app which now has over 900 million followers.
- He was granted conditional release on a bail of five million euros and on the condition he must report to a police station twice a week as well as remaining in France.
Geostrategy
Israel agrees ‘humanitarian pauses’ in Gaza to allow polio vaccinations
"The way we discussed and agreed, the campaign will start on the first of September, in central Gaza, for three...
- The vaccination rollout will also cover southern and northern Gaza, which will each get their own three-day pauses, Peeperkorn told reporters.
- UN agencies have said they plan to provide oral vaccines against type-2 poliovirus (cVDPV2) to more than 640,000 children in the territory.
Fifth Aramco facility receives WEF Global Lighthouse Network tag
Dhahran, Saudi Arabia -- Aramco's North Ghawar Oil Producing Complex has become the company's fifth facility to be added to...
Business
Company News
Latest News
Turkey, Iran leaders at Cairo summit urge action to address Gaza, Syria crises
Cairo, Egypt -- The leaders of Turkey and Iran were in Egypt on Thursday for a summit of eight Muslim-majority countries,...
Geostrategy
Turkey’s Pegasus Airlines says to buy 200 Boeing 737 aircraft
Istanbul, Turkey -- Turkey's Pegasus Airlines said Thursday it would buy 200 Boeing 737 MAX 10 aircraft in its largest-ever order...
Business
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...
Business
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Business
ADNOC Drilling closes JV
It is a JV between ADNOC Drilling, SLB and Patterson UTI.
- ADNOC Drilling holds a 55 percent majority equity stake, SLB, the world's largest oilfield services provider, holds a 30 percent equity stake and Patterson-UTI 15 percent.
- Turnwell announced the acceleration of its initial 144 unconventional wells earlier this year, following the successful operational startup.
Geostrategy
TikTok under fire: Espionage claims, election influence campaigns and controversies
The platform faces accusations of espionage in the United States, while the European Union has launched an investigation into claims...
- The United States in April passed a law obliging TikTok's Chinese owner ByteDance to sell off the platform by January 19 on the grounds it allowed China to access data on US users.
- Its editing features and powerful algorithm have kept it ahead of the game, attracting an army of creators and influencers as well as creating many of its own.
Business
World’s rarest coffees to be auctioned for first time in Dubai
Dubai, UAE -- Coffee aficionados and industry leaders will converge in Dubai this February at World of Coffee (WOC) Dubai...
- Some of the rarest coffees in the world include Black Ivory from Thailand, which sells for approximately $1,500 per kg.
- The coffee industry has experienced a significant rise in value and demand, with coffee prices reaching a 47-year high.