How To Enhance Human Potential? The answer: Cognitive Cities, AI, and Leadership in MENA
Joseph Bradley, former CEO of Tonomus, shares with TRENDS his views on how AI and leadership can help MENA build...
Economy
MENA’s gaming sector projected to ‘touch $6 billion by 2027
Nikita Matsokin, Executive Director of MGVC (MY.GAMES, shares his thoughts on the MENA region’s creative talent, government support, and rapid...
Interview
Business
OPEC lowers 2024 oil demand forecast, citing robust non-OECD activity
According to the organization's October report, the total world oil demand is anticipated to reach 105.6 mb/d in 4Q-24, to...
- According to the monthly publication, oil demand in the Middle East is expected to expand by an average of 265 tb/d, y-o-y, in 4Q-24.
- Refinery capacity additions in non-OECD countries – mostly in China and the Middle East – are also expected to contribute to oil demand growth.
Economy
China unveils major bond plan to revive economy and property market
The plan is part of a series of actions undertaken by Beijing to draw a line under a years-long property...
- Beijing's planned special bonds are aimed at boosting the capital available to banks -- part of a push to get them lending in the hopes of firing up sluggish consumer spending.
- China is also preparing to allow local governments to borrow more to fund the acquisition of unused land for development.
Business
Boeing to cut 10% of workforce
The aviation giant has projected a large third-quarter loss.
- The company announced a series of belt-tightening measures and production delays in the wake of the nearly month-long strike of 33,000 workers.
- Boeing said the strike contributed to $3 billion in pre-tax charges to its commercial aviation results in the third quarter.
Economy
World merchandise trade to rise by 2.7% in 2024: Global Trade Outlook
There was a 2.3% year-on-year increase in the first half of 2024 and WTO economists anticipate the volume will increase...
- Global GDP growth at market exchange rates is expected to remain at 2.7 percent in both years.
- Declining inflationary pressure has allowed central banks in advanced economies to begin cutting interest rates, which should stimulate consumption.
Geostrategy
Japanese group wins peace Nobel, says Gaza like Japan 80 years ago
Nihon Hidankyo, a grassroots movement of atomic bomb survivors from Hiroshima and Nagasaki, also known as Hibakusha, received the honor...
- The situation for children in Gaza is similar to the situation in Japan at the end of World War II, the co-head of Nihon Hidankyo said.
- "In Gaza, children in blood are being held. It's like in Japan 80 years ago," Toshiyuki Mimaki told a news conference in Tokyo.
Geostrategy
UN probe accuses Israel of seeking to ‘destroy’ Gaza healthcare
"Israel has perpetrated a concerted policy to destroy Gaza's healthcare system as part of a broader assault on Gaza," the...
- The country is "committing war crimes and the crime against humanity of extermination with relentless and deliberate attacks on medical personnel and facilities", it added.
- The report found that Israeli security forces had "deliberately killed, detained and tortured medical personnel and targeted medical vehicles" in Gaza.
Geostrategy
WTO predicts modest trade growth for 2024-25 amid geopolitical risks
In 2024 and 2025, inflation is expected to gradually abate, allowing real incomes to grow again in advanced economies, boosting...
- Risks to the forecast are on the downside “due to current geopolitical tensions and policy uncertainty. Middle East troubles have diverted sea shipments between Europe and Asia.
- It added that import demand in real terms was weak in 2023 in most regions, especially in Europe but also in North America and Asia.
Business
AviLease acquires 9 aircraft from Avolon
AviLease had purchased 13 aircraft from Avolon in 2023.
- AviLease aircraft portfolio now comprises 167 owned aircraft, including purchase commitments, and 23 managed aircraft on lease to 48 airlines globally.
- AviLease said the acquired portfolio offers attractive yields and further contributes to the diversification of its portfolio.
Business
ADNOC L&S to pay $136.5m dividend
This is equivalent to 6.78 fils per share, the company said.
- The Company intends to distribute a total dividend amount of $273 million (AED1,002.6 million) for the full year.
- The H1 2024 dividend will be paid to shareholders who own ADNOC L&S shares on the record date of 17th October 2024.
Geostrategy
October 7 anniversary: Hamas praises ‘glorious’ moment in its resistance, Netanyahu says ‘we will win’
Hamas called the Palestinian resistance a testament of resilience against Israeli aggression, while Netanyahu reaffirmed Israel's commitment to crush Hamas...
- Last year's October 7 attack resulted in the deaths of 1,205 people, according to an AFP tally based on Israeli official figures that include hostages killed in captivity
- At least 41,870 Palestinians, a majority of them civilians, have been killed in Israel's military campaign in the Gaza Strip since the war began
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How To Enhance Human Potential? The answer: Cognitive Cities, AI, and Leadership in MENA
Joseph Bradley, former CEO of Tonomus, shares with TRENDS his views on how AI and leadership can help MENA build...
Economy
Company News
Latest News
Human ancestor Lucy gets first European showing in Prague
Prague, Czech Republic --The 3.18-million-year-old bone fragments of human ancestor Lucy, which rarely leave Ethiopia, went on display in Prague...
Science
Expectations high as Trump, Putin set to meet at Alaska: What each side wants
In a draft peace plan published in June, Russia called on Ukraine to withdraw its forces from the Kherson, Lugansk,...
Geostrategy
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Geostrategy
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.
- Analysts said there was unlikely to be a major impact on prices, with the Brent reference oil currently selling at about $70 a barrel.
- Oil prices have held up better than observers anticipated amid strong summer demand and a high geopolitical risk premium, notably owing to conflict between Iran and Israel.
Geostrategy
Turkey starts supplying Azerbaijani gas to boost Syria’s power output
Istanbul, Turkey - Turkey on Saturday turned on a supply of natural gas from Azerbaijan to Syria, whose infrastructure was...
- Syria's Islamist authorities, who toppled Bashar al-Assad in December, are seeking to rebuild the battered country where power cuts can last for more than 20 hours a day
- A first phase of the Qatari scheme to fund gas supplies for power generation in Syria rolled out in March via Jordan and provided 400 megawatts of electricity per day
Geostrategy
UAE begins pipeline project to ease Gaza water shortage
Jerusalem, Undefined -- The United Arab Emirates has begun construction on a major pipeline to carry desalinated water from Egypt...
- Technical teams sent by the UAE have started transporting equipment needed for the project, the Emirati state news agency WAM reported.
- The project would link a desalination plant in Egypt to the Al-Mawasi area along Gaza's coast and could supply about 600,000 people daily, COGAT said.