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
Turkey, Iran leaders at Cairo summit urge action to address Gaza, Syria crises
Cairo, Egypt -- The leaders of Turkey and Iran were in Egypt on Thursday for a summit of eight Muslim-majority countries,...
Geostrategy
Saudi Public Investment Fund owned KAFD to sponsor Al Nassr Football Club
Riyadh, Saudi Arabia -- The King Abdullah Financial District Development and Management Company (KAFD DMC), a company wholly-owned by Public...
- Last year, Al Nassr FC attracted one of football’s greatest talents to the team with the acquisition of Portuguese superstar, Cristiano Ronaldo
- Set in the heart of the Saudi capital Riyadh, KAFD is home to 1.6 million square meters of office space, world-class venues and iconic luxury residences
Economy
Phase out fossil fuels to avoid climate catastrophe
Limiting global temperature rise to 1.5 degrees Celsius is still possible but will require a 45 per cent reduction in...
- UN Secretary-General António Guterres urges a 45% cut in carbon emissions by 2030 to limit global temperature rise to 1.5°C
- Current policies could lead to a 2.8°C temperature rise by the end of the century, posing a catastrophic threat, adds Guterres
Business
SABIC okays $1.43bn H1 dividend
SABIC's board cleared an 18 percent cash dividend at $0.48 per share.
- SABIC had reported a 90 percent decline in net income to SAR 0.66 billion ($177 million) in the first quarter, compared to SAR 6.47 billion ($1.77 billion) in Q1 2022.
- SABIC paid a total cash dividend of SAR 12.75 billion for 2022, or 42.5 percent of its net income, in two instalments.
Economy
Investments focus as KSA gets Civil Transactions Law
The new law seeks to provide a robust legal framework governing all contracts and transactions, instilling confidence in business sector...
- The new law seeks to provide a robust legal framework governing all contracts and transactions, instilling confidence in business sector and fostering growth across industries
- To ensure fairness and transparency in business dealings, the Saudi law brings clarity and consistency to the legal landscape while increasing the ability to predict judgments
Economy
Diversification, global investment key to UAE’s growth
The Gulf nation is strategically establishing comprehensive economic partnerships with various countries in bid to diversify its economy and encourage...
- The Gulf nation is strategically establishing comprehensive economic partnerships with various countries in bid to diversify its economy and encourage global investments
- As of June 2023, the UAE has entered into five such agreements, notably with Israel, India, Indonesia, Turkey, and Cambodia, with plans to sign three more in the first phase
Arts & Culture
New life breathed into Tunisia’s bagpipes
Known as Mizwad, the Tunisian bagpipe was once banned from airwaves but has now been embraced by artists infusing its...
- Most musical historians agree the mizwad first appeared in Tunisia at the beginning of the 20th century and was confined to working-class suburbs for decades.
- The mizwad spawned its own musical style that was frowned upon by authorities for associations with alcohol, drugs and prison -- where many songs were composed.
Geostrategy
Blinken reschedules postponed Beijing visit for June 18
US Secretary of State Antony Blinken will travel to China next week, rescheduling a visit that was canceled in February,...
- Blinken is expected to arrive in Beijing on June 18, the first trip by a top US diplomat to China since his predecessor Mike Pompeo in October 2018
- Blinken abruptly canceled a trip scheduled in early February after the United States said it detected a Chinese surveillance balloon flying over the US mainland
Business
GCC digital banking targets $2trn with cloud services
GCC authorities, however, acknowledge the accompanying challenges and are developing regulations to enhance digital banking experiences. A key requirement is...
- The next phase of the digital revolution in the region will see 5G services reaching two-thirds of the population by 2026, enhancing the end-to-end customer experience
- By 2025, Saudi Arabia aims to boost fintech GDP contribution to $ 1.2bn and increase the number of fintech players. UAE and Kuwait are also making strides in digital banking.
Business
Dubai International Chamber attracts 5 MNCs, 20 SMEs in Q1
Dubai, UAE -- Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has attracted five Multinational Corporations...
- The chamber also supported the expansion of seven local and national companies into foreign markets by helping them increase their exports or establish a presence abroad.
- The Chamber also opened a new representative office in Hong Kong, bringing the total number of its international offices to 16 by the end of Q1 2023.
Geostrategy
US, Saudi Arabia urge Western nations to repatriate IS militants
Riyadh, Saudi Arabia -- Riyadh and Washington urged Western governments Thursday to repatriate citizens who joined the Islamic State group in...
- Saudi Foreign Minister Prince Faisal bin Farhan said it was "disheartening and absolutely unacceptable" that some wealthy countries had not brought their nationals home.
- The United Nations estimates that IS still has 5,000 to 7,000 loyalists across the two countries, roughly half of whom are fighters.
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
Company News
Latest News
UAE national carriers fly to 606 destinations as travel demand rebounds
Abu Dhabi, UAE -- UAE national carriers continued to expand their destinations for passengers, supported by the UAE's leading position...
Business
Alibaba to upgrade Hong Kong listing amid profit drop
Hong Kong, China -- Chinese e-commerce giant Alibaba said Friday it would upgrade its Hong Kong-listed shares to primary status, opening...
Business
In rare move, UAE accepts Taliban government ambassador
It became just the second country after China to do so. The UAE said it was committed to "building bridges"...
Geostrategy
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Business
Stocks wobble as investors brace for Powell’s rate cut clues
Paris, France -- Stock markets wobbled on Thursday as investors await a highly-anticipated speech by US Federal Reserve chief Jerome Powell,...
- The dollar has been under pressure from expectations of lower rates, but it pared down some losses against other major currencies on Thursday.
- The spotlight will turn to Powell when he addresses an annual gathering of global central bankers, with investors eager to hear for fresh signals about the Fed's plans.
Business
TSMC starts work on first European plant
TSMC is investing $3.9bn in the Dresden project.
- The Dresden facility will be specialized in the production of semiconductors for Germany's flagship automotive industry, currently in the throes of transitioning to EVs.
- Some 10 billion euros has been ploughed into the flagship project in the "Silicon Saxony" region, which has an industrial heritage dating back to the communist era.
Business
Abu Dhabi Airports, Paris Airports to expand air transport infrastructure
Abu Dhabi, UAE-- Abu Dhabi Airports has expanded its existing collaboration with Paris Airports Group (ACG) to focus on collaborating...
- This decision comes after Abu Dhabi Airports completed a comprehensive program of activities aimed at enhancing the contribution of partners among other things.
- The collaboration is aimed at creation of the ground infrastructure needed to provide advanced air transport applications in Abu Dhabi.