Mubadala acquires stakes from GHH
It acquired an 80 percent stake in Global Medical Supply Chain.
Business
Tunisia women herb harvesters struggle with drought and heat
In Tunisia's highlands, women harvest wild herbs to earn a living, but drought is making their work harder, shrinking incomes...
Geostrategy
Arts & Culture
Brazil footballer Neymar to join Saudi Arabia’s Al-Hilal
Paris, France - Brazil forward Neymar has signed for Saudi Arabia's Al-Hilal from Paris Saint-Germain, the clubs announced on Tuesday, joining...
- "I am here in Saudi Arabia, I am Hilali," the star Brazil and PSG player Neymar said in a video posted to Al Hilal's social media accounts.
- Neymar, 31, scored 118 goals in 173 matches for PSG in six injury-plagued seasons. He won five Ligue 1 titles and three French Cups
Trump indicted for racketeering over 2020 election interference
Eighteen co-defendants were indicted in the probe, including Trump's former personal lawyer Rudy Giuliani, who pressured local legislators over the...
- The case - relying on laws typically used to bring down mobsters - is the fourth targeting the 77-year-old Republican this year
- This has compounded the legal threats Trump is facing in multiple jurisdictions as a firestorm of investigations imperils his bid for a second White House term
Business
Boeing looks to get Starliner spaceship ready to fly by March
Right now, based on the current plans, we're anticipating that we're going to be ready with the spacecraft in early...
- The troubled program has experienced numerous postponements but was finally meant to send astronauts to the International Space Station on July 21
- NASA hopes to certify Starliner as a second "taxi" service for its astronauts to the space station -- a role that Elon Musk's SpaceX has provided since succeeding in a test mission
Business
QEWC reports 12% profit jump
The Qatari company's net profit for H1 stands at US$211.26m.
- The company's earnings per share (EPS) amounted to QR 0.70 as of 30th June 2023, as against QR 0.62 for the same period in 2022
- According to a company statement, its revenue stood at $379 million compared to $329.67 million during the same period in 2022
Business
Aramco Q2 profits drop 38%
The oil company's profits fell sharply to US$30.08 billion.
- Production from the world's biggest crude exporter was down after Riyadh in April announced cuts of 500,000 barrels per day
- The kingdom's daily production is now approximately nine million bpd, far below its reported daily capacity of 12 million bpd
Business
Saudi Arabia’s PIF creates 181,000 jobs in 2022, boosts economy
Saudi Arabia's employment figures received a significant boost in 2022, thanks to the efforts of the Public Investment Fund (PIF),...
- The sovereign fund has ambitious goals and aims to increase its assets under management to SAR4 trillion by 2025.
- The fund's assets under management also saw substantial growth, increasing by 12.8 percent to $595 billion in 2022.
Geostrategy
Mobilize global action to deal with food insecurity
“In conflict, international humanitarian law is clear: parties to armed conflict must take constant care to spare the objects necessary...
- UAE's Minister of State Noura Al Kaabi emphasizes the need for collective action across the world to end food insecurity
- Al Kaabi highlights the role of climate change in exacerbating food insecurity, particularly affecting women and youth
Dozens of court cases in Morocco tied to online activity: Rights group
The Moroccan Association for Human Rights said proceedings were launched "on the basis of political opinions, investigations, press articles published...
- The group said rights activists, as well as ordinary people, have been jailed on charges ranging from "attacking Islam or the monarchy" to "insulting civil servants."
- The authorities say they are battling defamation and "attacks against individual freedoms" on social networks, calling these "crimes" punishable by imprisonment
Economy
Fitch credit downgrade upsets US Treasury Secretary, shakes markets
Markets slid on Thursday as traders shifted to safer assets after Fitch downgraded the United States' credit rating from AAA...
- The primary catalyst behind this historic downgrade is the steady erosion of governance standards over the last two decades
- The downgrade comes on the heels of a significant bipartisan agreement reached in June to suspend the debt limit until January 2025.
Business
Saudi, Brazil companies partner for collaboration in water desalination
Sao Paulo, Brazil - Saudi Arabia's Saline Water Conversion Corporation (SWCC) has signed a memorandum of understanding (MoU) with the...
- The agreement provides opportunities for localization and content enrichment in electrical engineering
- It also focuses on developing and enhancing the efficiency of various electrical systems
Mubadala acquires stakes from GHH
It acquired an 80 percent stake in Global Medical Supply Chain.
Business
Company News
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Airbus nets satellite deal
Business
Global stock markets wobble as investors weigh US jobs data
Since US Federal Reserve Chairman Jerome Powell stated last month that the time for interest rates to begin coming down...
Economy
German foreign minister heads to Middle East in Gaza truce push
The talks will focus on "the dramatic situation in the region", and especially to discuss the issue of coordinating humanitarian...
Geostrategy
Biden, unions pile pressure on Netanyahu for hostage release deal
Jerusalem -- Pressure mounted Monday on Israeli Prime Minister Benjamin Netanyahu as a major strike was held and US President...
Geostrategy
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Business
Major Qatari plant to double solar capacity by 2030: Energyminister
Doha, Qatar -- A large new solar plant planned in Qatar will double the Gulf emirate's previously projected renewable energy capacity...
- The plant will be established in Dukhan area will produce 2,000 megawatts, which is twice more than the capacity of Qatar's production of solar energy of the current projects.
- The energy minister also announced plans to more than double Qatar's urea production making the country the largest producer of the fertilizer in the world by the end of the decade
Geostrategy
Israel set for general strike after Gaza hostages found dead
"I have come to the conclusion that only our intervention can shake those who need to be shaken," Arnon bar...
- Qatar-based Hamas official Izzat al-Rishq said the six hostages were "killed by Zionist (Israeli) bombing", an accusation the military denied.
- A senior Hamas official told AFP on condition of anonymity that "some" of the six had been "approved" for release in a potential hostage-prisoner swap.
Geostrategy
COP29 finance draft: Arab nations ask developed nations to commit $441bn
Paris, France -- The UN has published a draft on climate financing due to be presented at the COP29 in November,...
- The document is the basis for negotiating an accord that is due to be reached at COP29 in Baku under Azerbaijan's presidency.
- The EU said the "collective goal can only be reached if Parties with high GHG-emissions and economic capabilities join the effort."