Boeing to boost 787 production
The firm will invest$1bn to ramp up production in South Carolina.
Business
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
Geostrategy
UN holds Afghanistan crisis talks in Qatar, without Taliban
Envoys from the United States, China and Russia as well as major European aid donors and key neighbors such as...
- Women have been barred from most secondary education and universities and prevented from working in most government jobs as well as UN agencies and NGOs.
- The UN said the meeting "is intended to achieve a common understanding” on how to engage with the Taliban" on women's rights, inclusive governance, countering terrorism.
Business
Small reactor startups vie to push US into new nuclear era
Small modular reactors -- or SMRs -- similar to the ones currently powering submarines, are touted as the future of...
- Americans remain divided on the use of nuclear energy, although the percentage of those who oppose it has fallen from 54 percent in 2016 to 47 percent in 2022, according to poll.
- Despite the Biden administration's stated support for nuclear power, there are no new projects underway for any traditional nuclear reactors.
Business
Arab Bank Q1 profit $216m
The first-quarter profit increased by 30% compared to Q1 2022.
- The Group's total equity was $10.4 billion as loans grew to $35.4 billion and deposits reached $47.7 billion.
- Excluding the impact of devaluation of several currencies against the US dollar, loans and deposits grew by 3 percent and 4 percent, respectively.
Geostrategy
Iran’s President Raisi to visit Damascus as Jordan hosts Syria meet
The visit comes against the backdrop of a rapprochement between regional rivals Iran and Saudi Arabia, and increased Arab engagement...
- Monday's meeting in Amman will bring together foreign ministers from Egypt, Iraq, Jordan, Saudi Arabia and Syria to discuss ending Syria's isolation.
- Jordan called the gathering "a continuation of the consultative meeting of the countries of the GCC, Jordan, Iraq and Egypt, which was hosted by Saudi Arabia" in mid-Apri.
Economy
Qatar’s economically active population up by 3% in Q4 2022
The Labor Force Sample Survey for the October-December 2022 period shows the percentage of male and female wage workers reached...
- The number of economically active males was 95.4 percent and females 63.4 percent. The people in the 25-34 year age group were the most economically active part of the workforce.
- The percentage of unemployed people increased by 1.3 percent to reached 0.1 percent-- 51 percent of the jobseekers being males and the rest females.
Business
Inheritance, investments raise King Charles’ fortune to $754m
London, United Kingdom -- Through inheritance, royal estates and shrewd investing while a prince, Charles III will be crowned on May...
- Queen Elizabeth II bequeathed her son an estimated £360 million ($448 million) upon her death in September last year, boosting Charles's fortune to £600 million.
- Balmoral Castle in northeast Scotland, where the royal family spends its summers, and the Sandringham estate in eastern England were left to Charles.
Science
UAE’s Sultan AlNeyadi achieves groundbreaking milestone as first Arab to perform spacewalk
The mission objectives included crucial tasks such as routing power cables and retrieving a Radio Frequency Group unit, contributing to...
- The mission objectives included crucial tasks such as routing power cables and retrieving a Radio Frequency Group unit, contributing to the station's operational capabilities
- Prior to Sultan AlNeyadi's spacewalk during Expedition 69, thorough safety checks were conducted to address challenges such as radiation, extreme temperatures, and space debris
Geostrategy
Saudi authorities foil attempt to smuggle 4 million captagon tablets
Riyadh, Saudi Arabia -- Saudi customs authority foiled an attempt to smuggle more than 4 million tablets of captagon through...
- On Tuesday, Saudi Arabia announced the seizure of more than 12 million amphetamine pills hidden in a shipment of pomegranate fruit.
- The vast majority of the region's captagon is produced in Syria and Lebanon and smuggled to its main consumer market in the Gulf.
Business
Dubai Investments okays 12.5% dividends
The group reported AED1.60bn as profit attributable to the shareholders.
- The surge in net profit was attributed to disposal of controlling interest on retained investment in Emirates District Cooling.
- The Board of Directors' recommendation to expand the board's size from seven to nine members was accepted by the shareholders.
Geostrategy
Libya green group battles to save country’s remaining forests
The "Friends of the Tree" group works to raise awareness about green areas around Tripoli that are quickly disappearing because...
- The group meets weekly to launch media campaigns and carry out activities to confront "the dangers facing Tripoli and other coastal cities", said Ramadan.
- Rainfall is scarce in the largely desert country, which is only starting to recover from the years of bloody conflict that followed the 2011 uprising.
Boeing to boost 787 production
The firm will invest$1bn to ramp up production in South Carolina.
Business
Company News
Saudi fashionistas attempt beach rebrand
Arts & Culture
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Saudi trains over 1,000 nationals in coastal tourism market
Riyadh, Saudi Arabia -- The Saudi Red Sea Authority (SRSA), in collaboration with the Ministry of Tourism, has implemented two...
Business
Lufthansa, Air France halt Beirut flights as Israel tensions rise
Beirut, Lebanon -- Air France and the German airline group Lufthansa said Monday they were suspending flights to Beirut after Israel...
Geostrategy
AI startups swap independence for Big Tech’s deep pockets
Washington, United States -- It's the case of the vanishing startup: some of Silicon Valley's most promising names in the fast-developing...
Business
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Business
In fuel-guzzling Saudi Arabia, electric cars pique interest
Riyadh, Saudi Arabia -- For Hamed al-Rafidain, a Saudi human resources worker, an electric vehicle offers welcome savings, especially since his...
- Although the EV market in the world's largest oil exporter remains small compared with the United States and China, it tripled last year to nearly 800 cars.
- Chinese EV giant BYD is expected to dominate the Saudi market. Its global rival Tesla of the United States has no dealerships in the Gulf kingdom.
Business
Saudi ministry, Red Sea Authority to boost coastal tourism
Riyadh, Saudi Arabia -- The Saudi Red Sea Authority, in cooperation with the Ministry of Tourism, has launched the "Seas...
- The program is offered for the first time on board the European Cruise and is accredited by the British University of Plymouth and Dale Carnegie.
- The program will equip employees at luxury coastal resorts and travel agencies with professional skills essential in the tourism sector.
Business
Equinox and NEOM announce Equinox Resort Treyam in Magna
New York, US -- Luxury hospitality group Equinox Hotels has announced plans for the opening of Equinox Resort Treyam, one...
- The resort is an architectural marvel, spanning a 450-meter-long bridge-like structure, floating 40 meters above a serene lagoon.
- Equinox Resort Treyam will include spacious guest rooms and suites, a 450-meter pool, world-class culinary concepts, a Club House.