SIB’s 2024 profit $272m
The profit surpassed AED 1 billion for the first time in bank's history.
Business
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
Geostrategy
‘Children torn apart’: Israel strike rains hell on Gaza dawn prayers
Dawn prayers were shattered by the early morning triple air strike from Israeli warplanes, which gutted Al-Tabieen religious school and...
- "Israel is genociding the Palestinians one neighborhood at the time, one hospital at the time, one school at the time," said UN Rapporteur Francesca Albanese.
- In a report issued in March, Albanese said there were "reasonable grounds" to determine that Israel had committed several acts of "genocide" in its war in Gaza.
Israel agrees to resume Gaza truce talks next week
A prospective cessation of hostilities also involving the release of hostages held in Gaza and scaled-up aid deliveries has centred...
- After a week-long pause in November, US, Qatari and Egyptian mediators have endeavored to secure a second truce in the 10-month-old war
- Netanyahu's office said later Thursday Israel would send a negotiating team on August 15 "to the agreed place to conclude the details of implementing a deal."
Geostrategy
Flying’s never been safer, risk of death halving every decade: MIT study
Washington, United States -- Flying can be a nerve-wracking experience for many people -- but a new study out Thursday finds...
- The fatality rate fell to 1 per every 13.7 million passenger boardings globally in the 2018-2022 period, a major improvement from 1 per 7.9 million boardings in 2008-2017.
- The last major commercial airline disaster in the United States was in 2009, when Colgan Air flight 3407 crashed, killing 50 people.
Geostrategy
Gaza civil defence says Israel strikes on two schools kill more than 18
Senior civil defense official Mohammad al-Mughayyir said 60 people were also wounded and more than 40 still missing in the...
- "This is a clear targeting of schools and safe civilian facilities in the Gaza Strip," he said.
- Turkish President Recep Tayyip Erdogan and the emir of Qatar, Sheikh Tamim bin Hamad Al-Thani, meanwhile call for greater international efforts to stop conflict escalation.
Business
Oil and gas sector in Arab countries attracts projects worth $406bn
Kuwait: -- The oil and gas sector in Arab countries attracted 610 projects implemented by 356 foreign and Arab companies,...
- United States topped the list as the most important investing country in the Arab region in the oil and gas sector with 85 projects.
- Russia ranked first in terms of investment costs, with a value of US$ 61.5 billion, representing about 15.2 percent of the total.
Geostrategy
Turkey joins South Africa’s Israel ‘genocide’ case at ICJ
A Turkish parliamentary delegation accompanied by the Turkish ambassador to the Netherlands filed a "declaration of intervention" at the ICJ's...
- South Africa's Dec 2023 case alleges that Israel's Gaza offensive, launched in retaliation for Hamas' bloody October 7 attack on Israel, breached the 1948 UN Genocide Convention.
- In a ruling January 26, the ICJ told Israel to do everything possible to prevent acts of genocide during its military operations in Gaza, which have left nearly 40,000 dead.
Geostrategy
Bangaldesh Nobel winner Yunus ready to lead after Hasina flees
Dhaka, Bangladesh -- Bangladesh Nobel winner Muhammad Yunus said Tuesday he is ready to head a caretaker government, a day after...
- Microfinance pioneer Yunus, 84, is credited with lifting millions out of poverty -- earning the enmity of ousted Hasina and the wide respect of millions of Bangladeshis.
- Army chief General Waker-Uz-Zaman announced Monday the military would form an interim government, saying it was "time to stop the violence".
Business
Abu Dhabi to host Loop CEE travel fair for first time in Middle East
Abu Dhabi, UAE -- The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Miral will host...
- The luxury travel fair is being organized by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Miral.
- Over the course of five days, each exhibitor will have the opportunity to conduct 62 appointments, each lasting for 15 minutes.
Geostrategy
G7 foreign ministers met by videoconference over Mideast: Italy
Rome, Italy -- G7 foreign ministers met by videoconference Sunday to discuss the Middle East and expressed "strong concern" over the...
- "Together with our partners, we have expressed strong concern about recent events that threaten to determine a regionalization of the crisis," Italian foreign minister said.
- The foreign ministers, it said, "reiterated the priority of a favorable conclusion of the negotiations on the ceasefire in Gaza and the release of hostages".
Geostrategy
Travellers rush to leave Lebanon amid spiking tensions
Several airlines including Lufthansa and Air France have delayed or suspended flights to Lebanon, and countries have issued urgent calls...
- Fears have spiked that months of cross-border violence could degenerate into all-out conflict between Hezbollah and Israel, who last fought a devastating war in the summer of 2006.
- Embassies have repeatedly urged their citizens to leave Lebanon while commercial flights are still available.
SIB’s 2024 profit $272m
The profit surpassed AED 1 billion for the first time in bank's history.
Business
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ADNOC signs deal with PETRONAS
Business
Coal use at record high in 2024, the world’s hottest year: IEA
Paris, France -- World coal use is set to reach an all-time high in 2024, the International Energy Agency said Wednesday,...
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...
Geostrategy
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Business
US stocks mostly rise ahead of expected rate cut, bitcoin hits new record
The Fed is widely expected to cut its key lending rate for a third straight time, reducing it by a...
- Bitcoin hit a new record high at $106,493.43 as it continues to gain support from Donald Trump's backing of cryptocurrencies.
- Investors are turning their attention to Wednesday's US Federal Reserve decision on borrowing costs at its last policy meeting of the year before Trump takes office next month.
Nations step up outreach to Syria’s post-Assad rulers
Governments worldwide are stepping up efforts to engage with Syria's new interim rulers, just over a week after Islamist-led rebels...
- Diplomats have urged an inclusive new administration focused on nation-building and justice
- The interim government insists they will protect the rights of all Syrians, and the rule of law
Geostrategy
Key Libya oil refinery halts operations after clashes: state firm
Tripoli, Libya -- A key oil refinery in western Libya suspended operations after armed clashes erupted early on Sunday, causing fires...
- The Zawiya refinery, built in 1974, is Libya's second largest with a refining capacity of more than 120,000 barrels per day (bpd).
- It is the only refinery supplying the local market with fuel products. Zawiya city is the third largest in Libya's Tripolitania region, after the capital and Misrata.