Trump vows revenge after troops in Syria killed in alleged IS ambush
The deadly attack had been "an ambush by a lone ISIS gunman," who was "engaged and killed," US Central Command...
Geostrategy
Mediators Egypt, Qatar, others ‘concerned’ about Israel opening one-way Gaza exit
The countries voiced "their absolute rejection of any attempts to expel the Palestinian people from their land" and said they...
Geostrategy
Arts & Culture
Paris crowns champion waiters in one-of-a-kind ‘cafe race’
Paris, France -- Visitors to central Paris were treated Sunday to the sight of hundreds of aproned waiters surging through the...
- First born in 1914, the "course des garcons de cafe" was held on March 24 for the first time since 2011 -- four months before the city hosts the Olympics in July-August.
- The 200 contestants started and finished the race at city hall by the Seine river, set on their way by mayor Anne Hidalgo.
Business
Boubyan Bank okays 8% cash dividend
The Bank's general assembly also approved 6% in bonus shares.
- The Bank managed a record growth rate of 39 percent, while registering KD 80.4 million ($262.75 million.
- Chairman Boubyan Bank Abdulaziz Abdullah Dakheel Al-Shayahe said the bank continued its precautionary approach by allocating KD 31.7 million in provisions.
Geostrategy
Gaza fighting rages as UN chief decries ‘horror and starvation’
Guterres urged an end to the "non-stop nightmare" endured by Gaza's 2.4 million people in a visit to the Egyptian...
- Deadly fighting meanwhile rocked Gaza, where Hamas reported 21 deaths on Saturday at an aid distribution point on the outskirts of Gaza City.
- Hamas said they were killed by Israeli "tank fire and shells". Israeli forces also pressed on with their offensive in and around the Al-Shifa hospital complex.
Business
Petro Rabigh net loss up 320% in 2023
The company narrowed losses to $367 million in Q4.
- The company said the losses piled up primarily due to the challenging market conditions adversely affecting the margins for both refined and petrochemical products and other factor
- The company’s accumulated losses as of December 31, 2023, amounted to SAR 6.40 billion representing 38.34 percent of the company’s share capital of SAR 16.71 billion.
Business
CATRION 2023 profit up 10%
The company said that net profit, however, dropped 35% in Q4.
- The company' board has announced a cash dividend of SAR90 million for the second half of 2023.
- The company's revenue increased from SAR 1.818 billion in 2022 to SAR 2.133 billion in 2023, due to the inflight catering segment as well as non-aviation catering services.
Death toll climbs to ‘more than 60’ in Moscow concert attack: Agencies
Meanwhile, the fire at a Moscow concert hall has been "mostly eliminated", the Russian capital's governor said on Saturday. "There...
- President Vladimir Putin wished a speedy recovery to the wounded victims of the deadly attack, Russia's deputy prime minister said on Saturday after meeting with him
- The United States warned Russian authorities earlier in March about a terrorist attack possibly targeting "large gatherings" in Moscow, the White House said Friday
Geostrategy
UNSC to vote on new Gaza truce resolution after Russia, China veto US bid
The draft resolution, seen by AFP, "demands an immediate ceasefire" for the ongoing Muslim holy month of Ramadan that leads...
- Three European nations -- Malta, Slovenia and Switzerland -- are co-sponsoring the resolution, along with Mozambique, Guyana and Sierra Leone.
- Russia and China had vetoed a US-led draft resolution saying it did not pressure Israel, as Moscow accused Washington of a "hypocritical spectacle."
Business
Response Plus net profit surges in 2023
The Group's profit increased by 68% YoY to $13.52 million.
- The Group's equity increased to AED230.04 million as of December 31, 2023 from AED222.9 million in the previous year.
- The Earnings Per Share (EPS) increased to AED 0.25 in 2023 from AED 0.15 a year before, reflecting the Group’s commitment to profitability and shareholder value creation.
Business
Qatar’s Industrial Production Index surges 5.5 percent in Jan
Doha, Qatar -- Qatar's Industrial Production index (IPI) in January 2024 reached 108.7 points, an increase of 4 percent compared...
- In the mining sector, the index showed an increase by 4.9 percent compared to December 2023.
- In the water supply sector, a decrease of 0.9 percent was noticed in the production of 'water' between Dec 2023 and Jan 2024.
Business
Asian markets struggle as US data dents Fed rate cut optimism
Equities across the world had surged Thursday in response to the central bank's closely watched dot plot projection that it...
- All three main US indexes clocked up record highs for a second straight day on the back of a tech rally as traders contemplated an end to the era of two-decade-high rates.
- However, Asia struggled to maintain the momentum after a string of data reminded investors that the world's largest economy was still in rude health.
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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
Trump vows revenge after troops in Syria killed in alleged IS ambush
The deadly attack had been "an ambush by a lone ISIS gunman," who was "engaged and killed," US Central Command...
Geostrategy
Company News
Latest News
BP announces $7bn gas project
Business
Tunisia women herb harvesters struggle with drought and heat
In Tunisia's highlands, women harvest wild herbs to earn a living, but drought is making their work harder, shrinking incomes...
Geostrategy
AD Ports Group secures $2.125 billion refinancing deal
The move aims to optimize financing costs.
Business
UAE says will not arm Sudan paramilitary RSF: White House
Washington, United States -- The United Arab Emirates has informed the United States that it will not arm paramilitaries in Sudan's...
Geostrategy
Most Read
Business
Honda and Nissan in merger talks as electric vehicle competition intensifies
Tokyo, Japan --Japanese auto giant Honda and its struggling rival Nissan will reportedly begin talks on a merger to boost their...
- At the same time, Taiwanese electronics behemoth Foxconn has approached France's Renault to buy its large stake in Nissan.
- A merger between Honda and Nissan would not be a marriage of equals. Honda's market capitalization is around $41.2 billion, while Nissan's is around $10.5 billion.
Geostrategy
Turkey, Iran leaders at Cairo summit urge action to address Gaza, Syria crises
Cairo, Egypt -- The leaders of Turkey and Iran were in Egypt on Thursday for a summit of eight Muslim-majority countries,...
- The gathering of the D-8 Organisation for Economic Cooperation, also known as the Developing-8, was being held against a backdrop of regional turmoil.
- The organization includes Egypt, Nigeria, Pakistan, Bangladesh, Indonesia and Malaysia besides Turkey, which historically backed the opposition to Assad, while Iran supported him.
Business
Turkey’s Pegasus Airlines says to buy 200 Boeing 737 aircraft
Istanbul, Turkey -- Turkey's Pegasus Airlines said Thursday it would buy 200 Boeing 737 MAX 10 aircraft in its largest-ever order...
- "The first 100 aircraft, for which we have placed firm orders, will begin joining our fleet starting in 2028," said Pegasus CEO Guliz Ozturk.
- Established in 1990, Pegasus Airlines operates 109 international routes to 53 countries as well as flying to 35 destinations within Turkey, its website says.