Mediators Qatar and Egypt call for next steps in fragile Gaza truce
"Now we are at the critical moment... A ceasefire cannot be completed unless there is a full withdrawal of the...
Geostrategy
OpenAI declares ChatGPT ‘code red’ over stiff competition: report
Washington, United States -- OpenAI CEO Sam Altman has declared a company-wide "code red" as its ChatGPT technology faces stiff...
Business
Business
ADNOC and SEFE sign agreement
ADNOC will supply 1 million mtpa of LNG to SEFE Singapore.
- The LNG will primarily be sourced from ADNOC’s lower-carbon Ruwais LNG project, currently under development in Al Ruwais Industrial City, Abu Dhabi.
- This is the second long-term LNG supply agreement from the Ruwais LNG project, following the 15-year agreement with China’s ENN Natural Gas in Dec 2023.
Business
50% of firms attracted to Dubai by DIC in 2023 Asian and Australian
Dubai, UAE -- Nearly 50 percent of the Multinational Corporations (MNCs) that opened businesses in Dubai during 2023 are based...
- Latin America and Europe, and the Middle East and Eurasia, accounted for 23.5 percent each of the total number of MNCs attracted during 2023.
- Companies from Africa represented 3 percent of the total number of corporations attracted by the chamber.
Geostrategy
UN envoy urges Syria to rejoin Geneva constitution talks
Damascus, Syria -- Visiting United Nations special envoy for Syria Geir Pedersen urged Damascus Sunday to rejoin talks to revise the...
- Syria's war, which began 13 years ago with the repression of pro-democracy protests, has killed more than 500,000 people.
- Geir Pedersen has been trying to make progress with a so-called constitutional committee for Syria to rewrite or amend the war-torn country's constitution since October 2019.
Business
ROSHN and Saudi cybersecurity organization partner on tech advancement
Riyadh, Saudi Arabia -- ROSHN Group, the PIF-owned giga-project and real estate developer, has signed a memorandum of understanding (MoU)...
- Both parties will develop joint initiatives aimed at enhancing the abilities of the Saudi IT and cybersecurity sectors.
- ROSHN will look to explore the use of drone technologies in its operations, and also participate in SAFSCP’s Bug Rewards Platform (Bug Bounty)
Business
SAIC net profit $39 million
The company's Board announces a dividend of $11.79 million.
- The company's fourth-quarter net profit increased 89.6 percent year-on-year (YoY) to SAR 38 million, from SAR 19.85 million in 2022.
- In a Tadawul filing, the company attributed the rise in net profit to sale of shares in associated companies and the sale of financial assets at fair value through profit or loss.
Geostrategy
European Union and Egypt to sign $8 billion funding package
Cairo, Egypt -- The European Union, which is seeking to stem the inflow of irregular migrants, announced Sunday a 7.4 billion...
- It will include billions in loans over coming years and aims to step up Egyptian energy imports to help Europe "move further away from Russian gas" amid the Ukraine war.
- Egypt already hosts around 9 million migrants and refugees, including 4 million Sudanese and 1.5 million Syrians, according to the UN's International Organization for Migration.
Economy
US Fed to provide fresh clues on rate cuts after uptick in inflation
The Fed has raised interest rates to a 23-year high of between 5.25 and 5.50% as it looks to return...
- After two days of discussions, the Fed will publish an updated summary of economic projections (SEP) alongside its rate decision on Wednesday,
- Officials at the US central bank -- led by Fed chair Jerome Powell -- have urged caution about cutting interest rates too quickly, and said they will follow a "data-dependent" path
Arts & Culture
UAE backs women in climate action, gender equality
“Today’s frameworks to advance gender equality and women’s empowerment ring hollow in the face of the war on Gaza, which...
- UAE Minister of State Noura Al Kaabi emphasizes the importance of enhancing national systems to promote gender equality.
- The UAE ranks among the top 10 countries for gender equality, showcasing significant progress on the Gender Inequality Index.
Business
UAE launches digital public consultation on tax implementation
Abu Dhabi, UAE -- UAE's Ministry of Finance (MoF) Friday launched digital public consultation to gather feedback from relevant stakeholders...
- The consultation will be open from 15th March 2024 to 10th April 2024, and accessible via the Ministry’s website or the UAE’s Government Portal.
- To familiarize stakeholders with the rules and to ensure informed feedback is received, the Ministry has issued a Global Minimum Tax briefing document alongside the consultation.
Geostrategy
First aid boat unloads in Gaza as Hamas proposes new truce
During the proposed truce, Gaza militants would release about 42 hostages seized during the October 7 attack that triggered the...
- Spanish vessel Open Arms meanwhile was seen towing a barge loaded with 200 tons of food for Gazans threatened with famine after more than five months of war.
- The United Nations has repeatedly warned of looming famine, with only a fraction of the supplies needed to sustain Gaza's 2.4 million people being let in.
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Mediators Qatar and Egypt call for next steps in fragile Gaza truce
"Now we are at the critical moment... A ceasefire cannot be completed unless there is a full withdrawal of the...
Geostrategy
Company News
US vetoes Gaza ceasefire call at UN
Geostrategy
Latest News
TikTok under fire: Espionage claims, election influence campaigns and controversies
The platform faces accusations of espionage in the United States, while the European Union has launched an investigation into claims...
Geostrategy
World’s rarest coffees to be auctioned for first time in Dubai
Dubai, UAE -- Coffee aficionados and industry leaders will converge in Dubai this February at World of Coffee (WOC) Dubai...
Business
Most Read
Nations step up outreach to Syria’s post-Assad rulers
Governments worldwide are stepping up efforts to engage with Syria's new interim rulers, just over a week after Islamist-led rebels...
- Diplomats have urged an inclusive new administration focused on nation-building and justice
- The interim government insists they will protect the rights of all Syrians, and the rule of law
Geostrategy
Key Libya oil refinery halts operations after clashes: state firm
Tripoli, Libya -- A key oil refinery in western Libya suspended operations after armed clashes erupted early on Sunday, causing fires...
- The Zawiya refinery, built in 1974, is Libya's second largest with a refining capacity of more than 120,000 barrels per day (bpd).
- It is the only refinery supplying the local market with fuel products. Zawiya city is the third largest in Libya's Tripolitania region, after the capital and Misrata.
Business
US Federal Reserve expected to cut rates in last meeting of Biden era
Washington, United States -- The US Federal Reserve is widely expected to announce a quarter point cut to its key lending...
- The Fed is also tipped to signal a slower path of cuts going forward amid uncertainty over the impact of President-elect Donald Trump's economic proposals.
- Trump has vowed to tackle the high cost of living, a top concern of voters who sent him back to the White House in November's election.