G42 launches ‘digital embassies’ model to help governments deploy sovereign AI
Abu Dhabi-based artificial intelligence group G42 on Tuesday launched what it calls a Digital Embassies framework and an operating model...
Geostrategy
Saudi knowledge economy accelerates as Vision 2030 targets move within reach
The government has successfully implemented more than 900 reforms, including restructuring legal and labor frameworks, establishing new public authorities, and...
Economy
Business
Virgin Galactic completes final spaceflight before two-year pause
Washington, United States -- Virgin Galactic on Saturday successfully completed its last spaceflight before heading into a two-year pause on commercial...
- One of the private astronauts was Tuva Atasever, a Turkish space agency astronaut whose seat was contracted through another space company, Axiom.
- During the flight, Atasever wore custom headgear with brain activity monitoring sensors to collect physiological data.
Geostrategy
UN Security Council to vote on US Gaza ceasefire resolution
The text of the resolution "welcomes" the truce and hostage release proposal announced on May 31 by President Joe Biden,...
- The United States, a staunch ally of Israel, has been widely criticized for having blocked several UN draft resolutions calling for a ceasefire in Gaza.
- Under the proposal, Israel would withdraw from Gaza population centers and Hamas would free hostages. The ceasefire would last an initial six weeks.
Business
EU targets UAE telecoms firm in new anti-subsidy probe
Telecoms group e&, whose majority stakeholder is the UAE government, signed a $2.3-billion agreement in August 2023 to purchase Czech...
- The alleged subsidies "notably take the form of an unlimited guarantee from the UAE and a loan from UAE-controlled banks directly facilitating the transaction", it added.
- The commission said it will investigate whether the subsidies lead to "actual or potential negative effects" on the bid's process or the EU's internal market.
Geostrategy
COP29 climate hosts say they’ll keep expanding fossil fuels
Bonn, Germany -- The incoming president of the COP29 UN climate summit in Azerbaijan told AFP on Friday that his country...
- the COP29 organizers said they would also call for a "COP truce" and ask nations to observe a conflict ceasefire during the marathon negotiations in Baku in November.
- It is estimated that emerging markets and developing countries, excluding China, will need more than $2 trillion a year by 2030 to meet their climate and development needs.
Geostrategy
Unemployment rate nearly 80 percent in Gaza, says United Nations
Geneva, Switzerland -- The war in Gaza has seen the unemployment rate in the besieged Palestinian territory surge to nearly 80...
- The UN's labor agency said the war between Hamas and Israel had "caused loss of jobs and livelihoods on a massive scale".
- The average unemployment rate across the West Bank and Gaza combined stood at 50.8 percent, it said.
Geostrategy
Israel ‘prepared for very intense operation’ on Lebanon border
Jerusalem, Undefined -- Israeli Prime Minister Benjamin Netanyahu said Wednesday that Israel was "prepared for a very intense operation" along the...
- Almost eight months of exchanges between Israel and Hezbollah have intensified over the past week, with Israel striking deeper into Lebanese territory.
- "We are prepared for a very intense operation in the north. One way or another, we will restore security to the north," Netanyahu said during a visit to the border area.
Business
Qatar signs 27-year gas supply deal with Chinese Petroleum Corp
Qatar will supply four million tons of gas a year under the deal, QatarEnergy said in a statement, without disclosing the...
- Qatar is one of the world's top liquefied natural gas producers alongside the United States, Australia and Russia.
- In recent months, Qatar has inked LNG deals with France's Total, Britain's Shell, India's Petronet, China's Sinopec and Italy's Eni among others.
Opinion
Work-life imbalance, mental health hit women hardest
Despite widespread cultural and contextual differences, many women around the world are experiencing similar challenges in and out of the...
- Women are feeling the weight of misbalanced caregiving and domestic responsibilities.
- Nearly half of the women say they are worried about their personal safety at work or when commuting or travelling for work
Geostrategy
More than half of Gaza structures destroyed or damaged: UN
Geneva, Switzerland -- Some 55 percent of all structures in the Gaza Strip have been destroyed, damaged or possibly damaged since...
- The analysis showed more than 137,000 buildings affected, UNOSAT, the United Nations satellite analysis agency, said on X.
- Within Deir Al-Balah, the Nuseirat municipality suffered the greatest number of newly damaged structures during that period, at 1,216, UNOSAT said.
Business
Oil prices fall as OPEC+ plans to unwind output cuts later this year
Oil prices slipped after Saudi-led OPEC and its Russian-led allies said Sunday they would maintain output levels but begin to...
- European natural gas prices meanwhile jumped more than 10 percent after the closure of a pipeline linking key producer Norway with Britain.
- Stock markets, meanwhile, mostly rose on renewed hopes for US interest-rate cuts. Among stock markets, European indexes were broadly higher and Wall Street saw gains at the open.
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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
G42 launches ‘digital embassies’ model to help governments deploy sovereign AI
Abu Dhabi-based artificial intelligence group G42 on Tuesday launched what it calls a Digital Embassies framework and an operating model...
Geostrategy
Company News
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SHUAA okays MCB tranches
Business
Syrian President’s first foreign trip to Saudi Arabia signals Syria’s shift away from Iran’s influence.
Syrian President Ahmed al-Sharaa met Saudi Crown Prince Mohammed bin Salman in Riyadh, marking his first foreign visit and signaling...
Geostrategy
Dubai’s real estate sector records $207 billion in transactions in 2024
Dubai, UAE -- Dubai’s real estate sector recorded a total of 2.78 million procedures in 2024, the highest in its...
Business
UAE most attractive Arab destination for auto investment, business
Kuwait -- The UAE has topped the Arab list as the best and most attractive destination for investment and business...
Business
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Business
GCC leaders explore regional growth and opportunity at Doha investment meet
The burgeoning creator economy presents an unprecedented opportunity for GCC to outpace global cities and establish itself as the epicenter...
- The event was organized by The Business Year (TBY), a media group that has been providing investors and governments with first-hand insights into the world’s most dynamic markets.
- Attendees and panelists delved into comprehensive discussions that paved the way for an evening of cross-border knowledge sharing.
Geostrategy
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...
- A late 2024 survey of over 900 global risks experts, policymakers, and industry leaders identifies state-based armed conflict as 2025's top risk
- Extreme weather events, societal polarization, and cyber-espionage also rank prominently, underscoring a landscape fraught with challenges
Economy
Global economy set to face significant challenges in 2025: WEF survey
Geneva, Switzerland – The global economy is set to face significant challenges in 2025, with 56 percent of chief economists...
- Only 17% of chief economists foresee an improvement, pointing to heightened uncertainty in key regions and the need for measured policy responses worldwide.
- Europe continues to rank as the weakest region for the third consecutive year, with nearly three-quarters (74 percent) expecting weak or very weak growth.