Israeli forces killed 45,553 Palestinians since Oct 2023: Health ministry
Gaza, Palestinian Territories -- The Israeli forces have killed at least 45,553 Palestinian civilians and injured at least 108,379 others,...
Geostrategy
Key healthcare digital trends to watch in 2025
From AI-powered content creation to automated feedback systems, technology is streamlining operations and improving patient care.
Business
Business
Saudi Arabia sees over $11.9bn investments on Day 1 of LEAP 2024
Riyadh, Saudi Arabia -- Saudi Arabia's Ministry of Communications and Information Technology announced has said that the Kingdom witnessed technology...
- Amazon Web Services will invest $5.3 billion in the Kingdom to create a high-capacity cloud region, the ministry said on its official X account, according to Argaam.
- Data Vault will invest $5 billion to build sustainable and innovative data centers, with a capacity of more than 300 megawatts, it further added.
Geostrategy
Saudi, UAE and Iraq extend oil cuts, Russia to slash output by 471,000 bpd
An energy ministry source said Riyadh "will extend its voluntary cut of one million barrels per day, which was implemented...
- Russia will cut oil production by almost half a million barrels per day in the second quarter of 2024, the government said, as part of a move to boost prices.
- Iraq will extend its voluntary oil production cut of 220,000 bpd and UAE follows suit, says its production will remain at 2.912 million bpd.
Geostrategy
Iran conservatives secure bulk of seats in elections: media
Authorities were still counting ballots two days after Friday's vote for members of parliament and for the Assembly of Experts,...
- Fears of a low turnout had swirled ahead of the elections after a state TV poll found more than half of respondents were indifferent about the elections.
- Turnout in Tehran was around 25 percent, with ultraconservative candidates securing 12 of the 30 parliament seats allotted to the capital.
Business
Sharjah government issues 12-year bonds worth $750 million
Sharjah, UAE -- Bank of Sharjah has acted as a joint lead manager and bookrunner in Sharjah government's issuance of...
- The bond attracted significant investor interest, evidenced by an order book that exceeded $4 billion.
- The issuance was priced with a spread of 195 basis points over US Treasuries, significantly tighter than the initial guidance of 235 basis points.
Business
Zain KSA net profit $335m
The company's fourth-quarter net profit was $78 million.
- The telecom services provider said its revenue rose 8.9 percent year-on-year (YoY) to an all-time high of SAR 9.9 billion in 2023.
- Gross profit increased 10 percent YoY. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached SAR 2.97 billion.
Geostrategy
Gaza truce talks set to resume in Cairo as heavy fighting rages
The Hamas official said that if Israel were to meet its demands -- which include a military withdrawal from Gaza...
- In a sign of the worsening humanitarian crisis in the narrow coastal territory, ministry spokesman Ashraf al-Qudra said at least 16 children had died of malnutrition in recent days
- A United Nations team that visited a Gaza City hospital reported seeing "a large number" of gunshot wounds among Palestinians in the aftermath of the incident.
Arts & Culture
Saudi Arabia formally launches bid for 2034 World Cup
Riyadh, Saudi Arabia -- Saudi Arabia formally launched its bid to host the 2034 World Cup on Friday, nearly four months...
- The bid comes two years after neighboring Qatar hosted the first World Cup in the Middle East.
- The campaign is under the slogan "Growing. Together", the Saudi Arabian Football Federation (SAFF) revealed its bid logo, website, as well as a short bid film.
Business
VW’s 2023 operating profit $24.4bn
An increase in sales in North America and Europe lifted the profits.
- In all, Volkswagen delivered some 9.2 million cars to customers in 2023, an improvement of 12 percent.
- The auto giant's units sold rose by 20 percent in Europe and in the North America region by 18 percent.
Business
Dubai Taxi Company net profit up 54%
The company will pay a dividend of $19.33 million for Q4.
- Revenue for the year increased 11 percent year-on-year (YoY) to AED 1.95 billion, primarily driven by the strong performance of its taxi segment.
- DTC’s fleet size at the end of 2023 was more than 7,400 vehicles, with its taxis and limousines completing 46 million trips in 2023, an increase of 8 percent YoY.
Business
e& pledges $6 billion to advance connectivity in 16 countries
Barcelona, Spain -- e& Friday pledged to invest $6 billion between 2024 and 2026 in technological advancement, infrastructure development, and...
- This investment is set to provide accessible and affordable network connectivity and digital services across its 16 operating countries.
- For e& customers in emerging markets, new financial, health, and educational services will increasingly hinge on high-speed connections via fiber or wireless broadband, e& said.
Israeli forces killed 45,553 Palestinians since Oct 2023: Health ministry
Gaza, Palestinian Territories -- The Israeli forces have killed at least 45,553 Palestinian civilians and injured at least 108,379 others,...
Geostrategy
Company News
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Israeli settler attacks, Gaza conflict ruin Palestinian olive harvest
UN experts said recently that Palestinian farmers in the occupied West Bank are facing "the most dangerous olive season ever".
Geostrategy
States helping Israel’s occupation may be ‘complicit’: UN experts
"Israel's internationally wrongful acts give rise to state responsibility, not only for Israel, but for all states," said Navi Pillay,...
Geostrategy
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Geostrategy
Middle East crisis top-of-mind at first EU-Gulf summit in Brussels
Confirmed at the last minute, the presence of Saudi Arabia's Crown Prince among the six Gulf leaders in attendance heightened...
- The European Union is the second-largest trading partner for GCC countries but talks on a trade pact have languished for years.
- Gulf countries have repeatedly called for the creation of a Palestinian state alongside Israel, with some playing a key role in efforts to secure a ceasefire in Gaza.
Business
Deals worth $4.26 billion signed at inaugural Global Logistics Forum
Riyadh, Saudi Arabia -- More than 65 agreements and Memoranda of Understanding worth SAR 16 billion were signed at the...
- The forum was attended by more than 130 experts and leaders in the global transport and logistics sector, as well as 13,000 visitors.
- Among the attendees were over 15 ministers and 77 leaders in the transport and logistics industry from more than 30 countries.
Geostrategy
WEF Global Future Councils meet in Dubai to tackle pressing global issues
More than 500 experts are expected to attend the meeting. Amid a rapidly shifting global landscape of geopolitical tensions, climate...
- The GFC network, representing 80 countries and diverse sectors and disciplines, is uniquely positioned to break down silos and foster cross-sector dialogue.
- Key themes of the meeting programme will include inclusive growth, climate action and the energy transition, and rebuilding trust for global collaboration