Hamas says weapons are ‘legitimate right’, open to proposals that preserve it
"Resistance and its weapons are a legitimate right guaranteed by international law and are linked to the establishment of a...
Geostrategy
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
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."
Business
Saudi Arabia surpasses 2030 tourism target of 100 million visitors
The Kingdom drew praise for this achievement from UN Tourism and the World Travel & Tourism Council. Motivated by this...
- International tourists numbered 27.4 million, a substantial 56 percent increase over 2019 and an impressive 65 percent rise compared to 2022.
- Tourism has proved to be a significant contributor to the nation’s economy, with domestic and international tourists spending over SAR 250 billion ($66.65 billion) in 2023
Business
Aramco signs $6bn purchase agreements with local suppliers
Dhahran, Saudi Arabia -- Energy giant Saudi Aramco Tuesday announced that it has signed 40 corporate purchase agreements worth $6...
- The new purchase agreements cover companies in multiple sectors and include the supply of a variety of products, including strategic goods.
- In the same context, Saudi Aramco signed two memorandums of understanding with strategic partners to cooperate in the field of localization and supply chain development.
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Hamas says weapons are ‘legitimate right’, open to proposals that preserve it
"Resistance and its weapons are a legitimate right guaranteed by international law and are linked to the establishment of a...
Geostrategy
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DAE 9M net profit $310m
Business
Crunch time for Saudi-hosted drought, desertification talks
Riyadh, Saudi Arabia -- Landmark talks on desertification are set to conclude in Saudi Arabia this week amid doubts that pledged funds...
Geostrategy
Air passenger numbers to top five billion for the first time in 2025: IATA
Geneva, Switzerland -- Air passenger numbers are forecast to top five billion for the first time next year and the sector's...
Business
UAE to introduce 15% tax rate on corporate profit from Jan 2025
Dubai, United Arab Emirates -- The United Arab Emirates, home to the regional headquarters of numerous multinational companies, said Monday it...
Business
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Assad’s fall reshapes Middle East politics, redefining power dynamics across the region
The Islamist Hayat Tahrir al-Sham rebels shocked the world by swiftly seizing Aleppo and Damascus, overshadowing global focus on the...
- Assad had for nearly 14 years held off an uprising that many believed had been exhausted, but his downfall followed a series of battlefield convulsions for other allies of Iran
- Israel has all but decapitated the Hezbollah leadership in Lebanon since September, while the killing of Hamas figureheads has dealt major blows to Assad's key backer Tehran
Geostrategy
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...
- Starmer will first visit the United Arab Emirates and then travel to Saudi Arabia, before stopping off in Cyprus on his way back to London on Tuesday.
- Starmer's trip comes after Britain last week rolled out the diplomatic red carpet for Qatar's emir Sheikh Tamim bin Hamad Al-Thani who enjoyed a state visit to the UK.
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...
- He also stressed that his campaign promises of huge tariffs -- including against top US trading partners Canada, Mexico and China -- would be enacted.
- As to whether Americans would see higher prices as a result of those tariffs, Trump said that "I can't guarantee anything. I can't guarantee tomorrow."