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
Geostrategy
‘160-year-old story’: Abraham Lincoln pardoned Joe Biden’s ancestor
The "slender sheaf of 22 well-preserved pages of his trial transcript, unobtrusively squeezed among many hundreds of other routine court-martial...
- A record detail the trial of Moses J. Robinette after a fight with fellow Union Army civilian employee John J. Alexander on March 21, 1864
- The two men scuffled, and Robinette drew his pocketknife, leaving Alexander with several cuts before others intervened, according to the documents
Business
Yanbu NPC loss $129m
The company had reported net profit of $110 million in 2022.
- Against the revenue/sales of SAR 7.02 billion in 2022, the company posted revenue/sales of SAR 4.53 billion in 2023, down 35 percent.
- In a Tadawul disclosure, the company attributed the loss to lower average sales prices for all products compared to the previous period.
Business
PIF acquires 40% of Zamil Offshore
Zamil is one of the largest offshore support vessel operators.
- PIF said the investment will enable Zamil to continue expanding its services and fleet to serve the growing demand for offshore support services.
- Incorporated in 1977, Zamil Offshore manages and operates more than 90 vessels in the Arabian Gulf.
Business
Emirates Flight acquires Bustanica
Bustanica is the world's largest indoor vertical farm.
- Bustanica’s 330,000sqft facility has the capacity to grow more than 1 million kilograms of leafy greens a year.
- Its produce is available across all major retailers in the UAE such as Spinney's, Waitrose, Carrefour, and Choithrams.
Business
SIB approves 10% cash dividend
The bank appointed Dr Al Saadi as Sharia Supervisory Committee member.
- Al Owais said SIB posted a net profit of AED851.5 million, an increase of 31 percent compared to AED650.9 million in 2022.
- He added that net operating profits saw an increase of 29 percent to reach AED1.3 billion, compared to AED1.0 billion for the previous year.
Geostrategy
Palestinians accuse Israel of ‘apartheid’ at UN top court
"The Palestinians have endured colonialism and apartheid... There are those who are enraged by these words. They should be enraged...
- Nations including the United States, Russia, and China will address judges at the Peace Palace in The Hague, seat of the International Court of Justice (ICJ).
- The minister urged the court to declare the occupation illegal and order it to stop "immediately, totally and unconditionally."
Geostrategy
UAE seeks maximum penalty in ‘terror’ trial against 84 people
The United Arab Emirates has accused the defendants of forming a "terrorist" organization called the "Committee for Justice and Dignity"...
- Most of the defendants were previously convicted more than a decade ago on similar charges and had completed or were about to complete their sentences.
- Public prosecutors concluded their arguments and confirmed that the case was distinct from that in 2012 and "not about re-trying the accused," reported WAM.
Arts & Culture
‘Addicted to winning’: Sabalenka returns to action in Dubai
Dubai, United Arab Emirates -- World number two Aryna Sabalenka said on Sunday she was "addicted to winning" and hungry for...
- The Belarusian returns to action this week at the WTA 1000 in Dubai to contest her first tournament since her second Grand Slam triumph at Melbourne Park.
- Meanwhile, top-seeded Iga Swiatek has touched down in Dubai, a day after pulling off an impressive threepeat in Doha.
Geostrategy
Zoo lion’s Muslim name riles Hindu nationalists
Vishwa Hindu Parishad (VHP), a right-wing Hindu organization, went to court after reports a lioness named Sita had been put...
- "Sita cannot stay with the Mughal emperor Akbar," VHP official Anup Mondal said Sunday, saying it hurt religious sentiments in the Hindu-majority nation.
- "Such act amounts to blasphemy and is a direct assault on the religious belief of all Hindus," the VHP said in its petition to the court.
Arts & Culture
AI-Operated robots assist visitors to the Grand Mosque in Makkah
Makkah, Saudi Arabia -- The Presidency of Religious Affairs at the Grand Mosque and the Prophet's Mosque has deployed AI-operated...
- The robots provide information and guidance on a variety of topics, including how to perform the Hajj and Umrah rituals, Islamic rulings and fatwas.
- They also provide directions to different locations within the mosque, and translations in multiple languages.
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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
Latest News
Boeing to cut 10% of workforce
Business
Macron attends PIF-hosted Riyadh One Planet Sovereign Wealth Funds meet
Riyadh, Saudi Arabia -- French President Emmanuel Macron and over 100 CEOs besides members of OPSWF, asset managers, and private...
Geostrategy
Developing countries paid $1.4 trillion to service their debts in 2024
The poorest countries paid out more than $96 billion to service their debts, the Bank announced in its latest report...
Economy
How Eco-Conscious Practices Are Shaping the Future of Luxury Spas?
In recent years, ‘wellness’ has come to mean many things for hotel operators. The term encompasses guest-centric experiences, environmental initiatives...
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Business
Aramco-Horse Powertrain deal completed
An agreement for the purchase of 10% equity stake was signed in June 2024.
- Aramco said it bought the stake through its directly and wholly owned subsidiary, Aramco Asia Singapore Pte. Ltd.
- The transaction builds on Aramco's efforts to develop new mobility solutions with the potential to reduce transport emissions.
Geostrategy
Macron to hold talks with Crown Prince Salman on Saudi visit
Macron is beginning the first state visit by a French president to Saudi Arabia since Jacques Chirac in 2006, cementing...
- Macron's three-day stay also coincides with a flare-up of violence in Syria, where anti-government rebels have seized Aleppo, the second largest city.
- The fighting in Syria comes after France helped to broker a fragile ceasefire in neighboring Lebanon, where Israel has been fighting Iran proxy Hezbollah.
Desertification talks open in Saudi Arabia as experts fire warning
UN talks aimed at halting the degradation and desertification of vast swathes of land start in Saudi Arabia. Forest loss...
- 3.7 billion acres must be restored by decade's end to combat crises
- Forest loss and degraded soils were reducing resilience to climate change and biodiversity loss