Pope calls for ‘arms to be silenced’ in Christmas appeal
Rome, Italy -- Pope Francis called Wednesday for "arms to be silenced" around the world in his Christmas address, appealing for...
Geostrategy
Honda and Nissan expected to begin merger talks
Honda and Nissan were poised Monday to announce the start of talks on a merger to help the Japanese giants...
Business
solutions to pay 60% cash dividend
The company posted a 13 percent rise in net profit for 2023.
- The profit increase was mainly due to the SAR 587 million uptick in gross profit, as revenues grew year-on-year (YoY) by 25.4 percent.
- In Q4 2023, net profit fell 17.8 percent to SAR 162 million from SAR 197 million in Q4 2022.
Geostrategy
Israel sends troops into besieged Nasser hospital in Gaza’s Khan Yunis
The raid came after days of intense fighting between troops and Hamas around the Nasser hospital in Khan Yunis --...
- It has called the situation at Nasser "catastrophic", with staff unable to move bodies to the morgue because of the risks involved.
- The World Health Organization has described Nasser hospital as a critical facility "for all of Gaza", where only a minority of hospitals are even partly operational.
Business
IEA warns on plummeting oil stocks as growth in demand ebbs
"As the IEA celebrates its 50th anniversary this week, oil supply security remains as critical as ever," said the agency...
- The agency forecast that "the pace of expansion is set to decelerate further to 1.2 mbd in 2024, compared with 2.3 mbd last year".
- The reasons it gave for that were economic woes but also progress towards greater energy efficiency and the growing global market share of electric vehicles.
Business
Tabreed 2023 revenue up 9%
The company reported a net profit of $204 million.
- Tabreed’s Board of Directors has recommended a record high dividend payment of 15.5 fils per share in cash.
- Net cash from operating activities totaled AED 1.31 billion in 2023 (AED 1.35 billion in 2022), while free cash flows increased by 8 percent to AED 1.21 billion.
Business
UCC Holding signs contracts for seven Kazakhstan projects
Doha, Qatar -- UCC Holding, a Qatari company, has signed two energy contracts for seven projects in Kazakhstan.The first contract...
- The first contract with QazaqGas includes two gas treatment plants:1 BCMA Gas Processing Plant Project and 2.5 BCMA.
- The second contract includes the construction of a combined cycle gas turbine (CCGT) power plant with a total capacity of about 1,100 MW in the Kyzylorda region.
Business
AD Ports Group net profit up 6%
Revenue growth driven by ports, logistics, and digital clusters.
- The Group said it more than doubled year-on-year to AED11.68 billion, up 58% YoY to AED 8.71 billion on a like-for-like basis.
- General cargo volumes rose by 26 percent YoY to reach 40 million tons in 2023, compared with 31.7 million tons in 2022, 13 percent YoY on an LFL basis.
Economy
Saudi Arabia set to establish more smart industrial zones
Riyadh, Saudi Arabia - Saudi Arabia will establish more smart industrial zones, Minister of Municipal and Rural Affairs and Housing,...
- Minister of Municipal and Rural Affairs and Housing, Majed Al-Hogail revealed this at the conclusion of the inaugural Global Smart City Forum 2024 here on Tuesday
- Minister of Industry and Mineral Resources Bandar Alkhorayef who also attended the Forum, stressed the industry and mining sectors' increasing demand for smart industrial cities
Geostrategy
Macron tells Netanyahu Israeli operations in Gaza ‘must cease’
In a telephone call that saw Macron toughen his tone, the French leader expressed France's "firm opposition" to an Israeli...
- WHO says Gaza hospitals completely overwhelmed and Israel approves fewer than half of its aid-delivery requests.
- Spain and Ireland ask European Union to urgently examine whether Israel is complying with its human rights obligations in Gaza.
Science
Old joke: Apes also like to tease, meaning trait could be ancient
Paris, France - A boisterous young chimpanzee slaps an adult in his family on the back, then scampers away and looks...
- The researchers catalogued a wide range of classic japery. One ape would offer another an object, only to withdraw it at the last second.
- Much of this behavior is common in human children, starting from around eight months for the most precocious.
Business
ADNOC and bp to form gas JV
The JV is expected to be completed in the second half of 2024.
- Under the JV, bp will contribute its interests in three development concessions, as well as exploration agreements, in Egypt.
- ADNOC will make a proportionate cash contribution which can be used for future growth opportunities.
Pope calls for ‘arms to be silenced’ in Christmas appeal
Rome, Italy -- Pope Francis called Wednesday for "arms to be silenced" around the world in his Christmas address, appealing for...
Geostrategy
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Israeli air strikes hit densely populated Hezbollah bastion in Beirut
The strikes were by far the largest in scale. Iran embassy in Lebanon warns that the strikes 'change the rules...
Geostrategy
Saudi Arabia announces coalition to push for Palestinian state
Prince Faisal bin Farhan said the "International Alliance to Implement the Two-State Solution" included Arab and Islamic countries, as well...
World’s first CO2 storage service soon ready in Norway
Øygarden, Norway -- Norway inaugurated Thursday the gateway to a massive undersea vault for carbon dioxide, a crucial step before opening...
Geostrategy
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Business
Saudi non-oil exports increase by 19 percent in July: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia's non-oil exports, including re-exports, during July 2024 amounted to SAR25.4 billion ($6.76 billion), compared...
- The value of merchandise exports increased during July 2024, reaching SAR94.5 billion, compared to SAR92.6 billion during July 2023, an increase of SAR1.9 billion, or 2.1 percent.
- The value of oil exports during July 2024 amounted to SAR69.1 billion, compared to SAR71.3 billion during July 2023, a decrease of SAR2.2 billion, or 3.1 percent.
Economy
OECD raises growth forecast, calls for higher property taxes
Paris, France -- The OECD on Wednesday slightly raised its world economic growth forecast for 2024 but called for higher property...
- The Paris-based organization said global gross domestic product would expand by 3.2 percent, compared to 3.1 percent in its previous forecast.
- While it raised the world GDP outlook, the OECD sounded the alarm on rising debt, urging governments to make "stronger efforts" to contain spending and raise revenue.
Business
UAE’s e& bends to European Union foreign subsidy rules
Brussels, Belgium -- The European Commission gave the green light Tuesday for an Emirati group to acquire the assets of a...
- The European Commission approved Emirates Telecommunications' acquisition of PPF Telecom's assets after securing concessions to avoid competition distortion.
- The deal, scrutinized under new EU rules on foreign subsidies, ensures fair competition by limiting future state aid and financing in the EU.