Jury selection begins in landmark social media addiction trial
Los Angeles, United States -- Jury selection begins Tuesday for a landmark trial that could establish a legal precedent on...
Geostrategy
Saudi Arabia’s UAE ‘mudslinging’ threatens new Gulf crisis
The United Arab Emirates is "investing in chaos and supporting secessionists" from Libya to Yemen and the Horn of Africa,...
Geostrategy
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.
Business
ADNOC Distribution H1 dividend $350m
The total dividend for 2024 is expected to be $700 million.
- The second and final portion of 2024 dividend is expected to be paid in April 2025, in accordance with the recommendations of the Board of Directors and shareholder approval.
- The company's cash dividend paid since its initial public offering totaled AED 16.2 billion ($4.4 billion), including cash dividends for the first half of 2024.
Geostrategy
DCO launches Digital Economy Navigator to bridge global digital gap
The navigator enables countries to better navigate their digital journeys, find opportunities for growth and benchmark progress,
- DEN was unveiled at SDG Digital, held this year during the 79th Session of the UN General Assembly in New York from September 10 to 27.
- DEN is a unifying framework that addresses digital economy maturity across 50 countries, including the DCO member states.
Science
Researchers decode oldest human DNA
The genetic sequences were from a man and a woman whose remains were found at a rock shelter near the...
- They were among 13 sequences reconstructed from people whose remains were found at the Oakhurst shelter and lived 1,300-10,000 years ago.
- Prior to these discoveries, the oldest genomes reconstructed from the region dated back around 2,000 years.
Business
Global tourism nears full recovery, led by Middle East’s 26% growth in 2024
While Europe and Americas have nearly returned to pre-pandemic levels, the Middle East's growth outpaces all other regions, UN World...
- Globally, international tourism reached 96 percent of pre-pandemic levels during the same period, with around 790 million tourists, an 11 percent increase over 2023.
- In terms of tourism revenue, 47 out of 63 countries with available data reported a return to pre-pandemic earnings.
Geostrategy
Elon Musk’s Starlink internet launches in war-scarred Yemen
Dubai, United Arab Emirates -- Tech billionaire Elon Musk's satellite internet service Starlink has launched in Yemen, provoking the anger of...
- Starlink's network of low Earth orbit satellites can provide internet to remote locations or areas that have had normal communications infrastructure disabled.
- Houthi official Mohammed al-Bukhaiti condemned the Starlink launch, linking it to "the war waged by America on Yemen".
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Jury selection begins in landmark social media addiction trial
Los Angeles, United States -- Jury selection begins Tuesday for a landmark trial that could establish a legal precedent on...
Geostrategy
Company News
Latest News
ChatGPT to get parental controls after teen’s death
Paris, France -- American artificial intelligence firm OpenAI said Tuesday it would add parental controls to its chatbot ChatGPT, a...
Geostrategy
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
Most Read
Geostrategy
Chaos, Israel-aided gangs and gunfire: Gaza aid fails to reach most needy
Nearly 1,400 Palestinians have been killed in the Gaza Strip while waiting for aid since May 27, the majority by...
- The Israeli army is also accused of having equipped Palestinian criminal networks in its fight against Hamas and of allowing them to plunder aid.
- For more than 2 million inhabitants of Gaza the US-backed GHF has just four distribution points, which the UN describes as a "death trap".
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