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
Saudi powers forward with deficit spending to fund reforms
The Arab world's largest economy is overseeing a major push to slash its dependence on oil revenues, with officials pouring...
Economy
Business
Russia to ban petrol exports for six months to meet domestic demand
Despite being the world's third largest oil producer, Russia has suffered sporadic fuel shortages since last summer amid high demand...
- The Kremlin is also keen to avoid fuel shortages on the domestic market ahead of elections next month, in which President Vladimir Putin is seeking to extend his grip on power.
- Russia announced a similar export ban on diesel and petrol last year, after farmers in some regions were unable to harvest grain due to fuel shortages.
Business
UAE airports surpass 134 million passenger mark in 2023: GCAA
Abu Dhabi, UAE -- Saif Mohammed Al Suwaidi, Director-General of the General Civil Aviation Authority (GCAA), said Thursday that the...
- Saif Mohammed Al Suwaidi, Director-General of GCAA, attributed this achievement to the robustness and competitiveness of the UAE aviation sector.
- Al Suwaidi highlighted that UAE airports recorded approximately 38 million arrivals, 37.805 million departures, and 58.328 million transit passengers in 2023.
Geostrategy
Biden faces backlash in Michigan primary over Gaza ceasefire stance
Though Biden handily won the vote, the uncommitted ballots, representing 13 percent of votes cast Tuesday, sent a "clear and...
- The midwestern state is home to a large number of Arab and Muslim Americans, previously firmly part of the Democratic fold that helped elect Biden in 2020.
- "It is my hope, Mr. President, that you listen to us," said Abdullah Hammoud, the mayor of Dearborn. "That you choose the people of America over Netanyahu", he said.
Business
Bitcoin hits $60,000 as ETFs draw in new investors
London, United Kingdom -- Bitcoin passed the $60,000 mark on Wednesday, approaching its all-time high and continuing its unbridled rise since...
- At 1325 GMT, bitcoin traded at about $60,301, closing in on its all-time high of $68,991 -- that was struck in November 2021 and which some analysts believe is now within reach.
- Since their approval on January 10 by US securities regulators, exchange-traded funds indexed to bitcoin have theoretically enabled a wider public to invest in the cryptocurrency.
Geostrategy
Saudi Arabia’s PIF announces tennis partnership with ATP
In a joint statement, the two bodies said the partnership marked "a significant shared commitment to enhancing global tennis". The...
- PIF will also partner with ATP Tour events in Indian Wells, Miami, Madrid, Beijing and the ATP Finals, in addition to the Next Gen ATP Finals, hosted in Jeddah until 2027.
- "Our strategic partnership with PIF marks a major moment for tennis," said ATP chief executive Massimo Calvelli in the joint statement.
Business
Mubadala Capital, Woori sign partnership
The two firms will explore mutually beneficial investment opportunities.
- They will establish a dedicated working committee to facilitate cooperation and dialogue between both organizations.
- Chang Kyu Kim, CEO of Woori Venture Partners emphasized the potential for mutual growth and affirmed his commitment to strengthening cooperation among group entities in the future.
Geostrategy
Palestinians reduced to antagonists in someone else’s story: Queen Rania
In a powerful speech at the first-ever Web Summit Qatar conference, while calling for an immediate end to the war...
- Palestinian story has been obscured, allowing Palestinians to be dehumanized, discredited, and “turned into a people unto whom anything can be done, without consequence.”
- Their many attempts at non-violent resistance – from historic strikes and civil disobedience, to Gaza’s Great March of Return – have been crushed, even criminalized,” she said.
Business
Luberef net profit falls 24%
Decline attributed to lower prices for base oils, secondary products.
- The company also reported a decrease in base oils and secondary products’ cracking margins, despite higher sales volumes.
- The fourth-quarter net profit dropped 65 percent to SAR 268.7 million from SAR 763.19 million in Q4 2022.
Business
Pakistan-Iran gas pipeline recommences after 10-year delay
Tehran, Iran -- In a significant step towards enhancing energy cooperation between Pakistan and Iran, Islamabad has given the green...
- The approval comes as Pakistan has scrambled to avoid a staggering $18 billion fine. Analysts say the project will improve Pakistan's energy security.
- Iran has extended the project deadline by 180 days until September 2024 so as to avoid a legal dispute with Pakistan at international tribunals.
Geostrategy
Russia in contact with OIC on upcoming presidential vote
Moscow, Russia -- Moscow is maintaining close contact with officials from the Arab League and the Organization of Islamic Cooperation...
- "We are always in contact on all issues, including election cycles in our countries, and we coordinate our approaches," said Russian Deputy Foreign Minister Mikhail Bogdanov.
- The senior diplomat pointed out in this regard that he "himself attended Palestine’s elections as an observer in the past."
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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
Company News
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Business
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UK Prime Minister to talk trade, Middle East during Gulf visit
London, United Kingdom -- Britain's leader Keir Starmer makes his first trip to the Gulf as prime minister from Sunday, seeking...
Geostrategy
Trump touts tariffs, mass deportations and NATO skepticism
In his first formal television interview -- and just six weeks before he takes office -- Trump again signaled that...
Geostrategy
Qatar PM sees ‘momentum’ on Gaza talks after US election
Doha, Qatar - Qatar's prime minister said on Saturday that momentum had returned to talks aimed at securing a truce and...
Geostrategy
Most Read
Business
Abu Dhabi’s Hub71 startups secure $1.90 billion in funding, says CEO
Abu Dhabi, UAE -- Startups within Hub71, Abu Dhabi's global tech ecosystem, have secured over AED 7 billion in funding,...
- The ecosystem is now hosts over 300 startups from around the world and has forged 150 partnerships to support these companies in attracting investments.
- Ahmad Ali Alwan, CEO of Hub71, said it has received over 2,500 applications for its programmes.
Business
ADNOC signs deal with PETRONAS
Under the agreement, ADNOC will supply 1m tons of LNG per year.
- The LNG will primarily be sourced from the Ruwais LNG project, which is currently under development in Al Ruwais Industrial City, Abu Dhabi.
- Deliveries are expected to start in 2028 upon commencement of its commercial operations.
Business
Bitcoin passes $100,000 mark for first time, outshining wavering stock markets
Donald Trump, who has vowed to make the US the 'bitcoin and cryptocurrency capital of the world' wrote 'Congratulations Bitcoiners...You're...
- The digital asset has now soared more than 50 percent since the election of Donald Trump, who has vowed to make the US the "bitcoin and cryptocurrency capital of the world."
- The historic level was broken after Trump picked crypto proponent Paul Atkins to take over as chair of the Securities and Exchange Commission, the markets regulator.