Gold hits record high, dollar falls as US targets Fed
Fed Chair Jerome Powell confirmed the "unprecedented" subpoenas against the bank in a rare video address on Sunday, which he...
Business
Yemen presidential council says Saudi coalition to lead all southern forces
The announcement comes a few days after Yemeni forces supported by Saudi Arabia recaptured large swathes of territory from the...
Geostrategy
Science
Romania center explores world’s most powerful laser
The high-tech building housing the center cost $350 million, mainly financed by the EU. Thales bills it as the largest...
- The laser at the center, near the Romanian capital Bucharest, is operated by French company Thales, using Nobel prize-winning inventions.
- Countries including France, China and the United States are already advancing their own projects to manufacture even more powerful lasers.
Business
Iraq to import electricity from Jordan to ease its chronic outages
Baghdad, Iraq -- Iraq said Friday a power line would soon bring electricity from Jordan to the border area as authorities...
- With its generating capacity ravaged by decades of conflict and underinvestment, Iraq has long relied on imports of both gas and electricity from neighboring Iran.
- The 340-kilometre (210-mile) power line from Jordan will officially start operating on Saturday, the electricity ministry said in a statement.
Geostrategy
UAE extradites alleged drug baron from Dubai to Belgium
Brussels, Belgium -- One of Belgium's most-wanted suspected drug smugglers was extradited from Dubai on Friday, the Belgian justice ministry said....
- Nordin El Hajjioui, a Belgian of Moroccan origin, is believed to be one of the main drug barons in Antwerp and is wanted in at least three cocaine-trafficking cases.
- Emirati officials first arrested the 36-year-old in 2020 in Dubai after a request from Belgium but then released him. He was taken back into custody last year.
Business
Amlak 2023 net profit $70m
The company's revenue fell by 18 percent in 2023.
- Revenues from financing business activities for the year 2023 declined by 3 percent as compared to 2022 and stood at AED 122 million in 2023 (FY22: AED 127 million).
- The company recorded a net gain of AED174 million (2022: AED 349 million) on debt settlement arrangements and was able to reduce its debt burden by AED531 million.
Business
Borouge approves $1.3bn dividend for 2023
The company intends to pay $1.3bn in dividend for 2024 also.
- Borouge recorded $1 billion in net profit in 2023 and its $607 million Value Enhance Programme contributed a significant 28 percent to 2023 EBITDA.
- Borouge said it outperformed its regional and international peers with one of the highest EBITDA margins in the industry at 38 percent.
Science
What do scientists hope to learn from total solar eclipse in US?
Washington, United States -- When a rare total solar eclipse sweeps across North America on April 8, scientists will be able...
- Total solar eclipses offer "incredible scientific opportunities," NASA Deputy Administrator Pam Melroy told a press conference this week about the celestial event.
- Startling animal behavior has been noted during eclipses: Giraffes have been seen galloping, while roosters and crickets can start crowing and chirping.
Business
DEWA okays $844m dividend
In 2023, DEWA's revenue exceeded $7.8 billion, its highest ever.
- The company's operating profit was over AED 8.7 billion and EBITDA was over AED 14.7 billion.
- It recorded the highest annual power generation of 56.1 TWh, which includes clean power generation of 6.2 TWh.
Business
flydubai adds two Saudi destinations
Flights to Al Jouf Airport and Red Sea Airport to start from April 18.
- flydubai has built a network of 129 destinations across 58 countries and is served by a fleet of 86 Boeing 737 aircraft.
- Since the start of 2024, flydubai has inaugurated operations to Langkawi, Mombasa and Penang and has announced the start of flights to Basel, Riga.
Geostrategy
Palestinian Authority president approves new government
Prime Minister Mohammed Mustafa, who presented the government and aims to see it play a role in post-war Gaza said...
- He added that his cabinet "will work on formulating visions to reunify the institutions, including assuming responsibility for Gaza".
- The new government is made up of 23 ministers, including three women and six Palestinians from Gaza, among them former Gaza City mayor Maged Abu Ramadan.
Business
Emirates retains fourth most valuable airline brand status
Dubai, UAE -- UAE carrier Emirates defended its title as the fourth most valuable airline brand, with a staggering 30...
- The UAE carrier witnessed 30 percent increase in brand value, reaching $6.6 billion, according to Brand Finance, a brand valuation consultancy.
- Qatar Airways (brand value up 27 percent to $3.1 billion) is the second most valuable Middle Eastern brand.
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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
Gold hits record high, dollar falls as US targets Fed
Fed Chair Jerome Powell confirmed the "unprecedented" subpoenas against the bank in a rare video address on Sunday, which he...
Business
Company News
Latest News
Egypt tests Suez Canal extension aimed at boosting vessel capacity
Cairo, Egypt -- Egypt has tested a new 10-kilometre (6.2-mile) extension to the Suez Canal as it tries to minimize the...
Business
SHUAA okays MCB tranches
The two tranches will be converted into equity at the earliest opportunity.
Business
Israeli raid puts last major Gaza health facility out of service: WHO
The World Health Organization said the operation had put the "last major health facility in north Gaza out of service"....
Geostrategy
Most Read
Business
Global stocks rise as Japan led Asia gains on a weaker yen
Seoul was an outlier in Asia with shares plunging as South Korea's political crisis deepened with a second impeachment vote....
- Japan's Nikkei index closed up nearly two percent, with the yen's recent weakness proving a boon for major exporters.
- In Europe, Frankfurt's DAX index rose after German President Frank-Walter Steinmeier dissolved parliament on Friday and confirmed the expected date for the early general election
Improving healthcare in the intelligent age requires cultural change and collaboration
Leaders can utilize AI tools to streamline this challenging process by efficiently identifying individuals who are qualified matches to participate...
- Embracing the potential of artificial intelligence (AI) in healthcare demands a mindset shift, prioritizing collaboration, openness and willingness to transform outdated workflows
- Collaborative models such as federated learning and open datasets foster innovation while addressing privacy concerns, paving the way for a regenerative healthcare ecosystem
Geostrategy
Israeli strike on broadcast vehicle kills five Al-Quds Today journalists
Palestinian Territories -- A Palestinian TV channel said five of its journalists were killed Thursday in an Israeli strike on...
- The station identified the five staffers as Faisal Abu Al-Qumsan, Ayman Al-Jadi, Ibrahim Al-Sheikh Khalil, Fadi Hassouna and Mohammed Al-Lada'a.
- The Palestinian Journalists Syndicate said last week that more than 190 journalists had been killed and at least 400 injured since the start of the war in Gaza.