Crude could spike by US$20 on Iran oil shock
Oil prices could shoot up US$20 per barrel if Iranian production sees a hit resulting from Israeli retaliation, according to...Economy
Saudi economy to register losses until 2027, says finance ministry
Saudi Arabia anticipates a budget deficit of 2.3 percent of GDP in 2025. Estimates put total government revenues for 2025...Economy
Oil prices spike as Hamas attack on Israel fuels supply fears
The attack and Israel's declaration of war in response to it have raised concerns that a potential broadening of the...The crisis fanned concerns about supplies of crude from the region at a time when supply worries are already high
It has also renewed fears about the impact on inflation, with energy costs a key driver of spiking prices
Al Etihad Payments partners with NIPL to develop UAE Domestic Card Scheme
ABU DHABI, UAE – Al Etihad Payments (AEP), a wholly-owned subsidiary of the Central Bank of the UAE (CBUAE), and...To be launched in early 2024, the card scheme will aim to facilitate the growth of e-commerce and digital transactions in the UAE.
It will bolster financial inclusion, support the nation’s digitization, increase alternative payment options and enhance the UAE’s competitiveness.
UAE approves $52 billion federal budget for 2024-26
UAE Vice President Sheikh Mohammed bin Rashid Al Maktoum, who chaired a meeting of the cabinet where the budget was...The UAE cabinet also announced the formation of the Financial Stability Board, led by Sheikh Mansour bin Zayed Al Nahyan, to fortify financial stability.
This government also announced establishment of the Emirates Pharmaceutical Corporation to serve as the official regulatory body for medical and pharmaceutical products.
Volunteers search for Afghan quake survivors as aid trickles in
Kashkak, Afghanistan--Afghan villagers and volunteers on Monday helped dig for survivors of a series of earthquakes that killed more than 2,000...Although the country's disaster agency said that 2,053 people died, national and local officials gave conflicting counts of the dead and injured
With winter approaching, the country's Taliban government would face a major challenge to provide shelter to the people displaced by the quake
OPEC sees no peak in global oil demand on the horizon
In its 2023 annual report, the Organization of the Petroleum Exporting Countries forecasts demand for crude to reach 116 million...According to OPEC, whose 13 member states include Saudi Arabia, the Gulf states and Venezuela, oil demand will be driven by emerging and developing nations.
OPEC also backed developing technological solutions to reduce emissions, such as carbon capture and storage.
UAE to hold ‘Regional Cybersecurity Week’ to brainstorm plans to combat threats
Abu Dhabi, UAE--The UAE Cybersecurity Council will organise the Regional Cybersecurity Week 2023 from October 8-12, under the title "Cybersecurity...The week-long conference will be held in cooperation with the International Telecommunication Union and the Arab Regional Cybersecurity Centre
More than 100 experts from 70 countries will take part in the conference to debate the best strategies and experiences in the field of cybersecurity
Turkey set to realize long-term goal with bid to host Euro 2032
Turkey missed out to Germany for Euro 2024, with UEFA's evaluation of the bid highlighting concerns about the country's "lack...On Tuesday, UEFA's executive committee meets to announce the hosts for the 2028 and 2032 European Championships
Turkey withdrew its bid to host in 2028 in order to focus all its effort on a united proposal with Italy to stage the tournament
UN voices concern over impact of Israel-Hamas war on food supply
The UN's World Food Programme expressed concern over the mounting challenges civilians, including vulnerable children and families, face in accessing...The WFP has stocks of food ready for distribution to people displaced and in shelters
The UN agency appealed to all parties to uphold the principles of humanitarian law
Dubai at top global ranking for attracting Greenfield FDI projects in H1 2023
DUBAI, UAE - Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate...During the first half of 2023, Dubai’s global share in the attraction of Greenfield FDI projects stood at 6.58 percent.
The results align the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy over the next decade.
Saudi Arabia explores carbon capture, storage potential
“Achieving success in this area will benefit everyone and align with the goals of the Paris Climate Agreement,” he adds...The Kingdom can be a source of clean hydrogen and a producer/source of clean electricity, says Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud
Saudi Arabia has adopted a comprehensive approach harnessing potential for renewable energy, hydrogen production, and electricity transmission, the minister adds
