Qatar Airways seeking 25% stake in Virgin Australia
Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal...Business Economy
Middle East & North Africa: Regulatory momentum and DeFi fuel crypto adoption
The Middle East & North Africa (MENA) region ranks as the seventh-largest crypto market globally in 2024, with an estimated...Economy
Libya orders Brussels envoy detention on graft charges
Shortly after her dismissal by the internationally recognized government in Tripoli, Amel Jerary, whose detention was ordered by the country's...The government in western Libya had earlier announced Jerary's dismissal without giving an explanation
The corruption scandal erupted after an audio recording attributed to Jerary was posted on social media
Geopolitical changes derailed shift towards green energy, says IMF
Washington, US - Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening to slow the transition to...IMF economists said trade disruptions could lower investment in renewable energy and electric vehicles by almost 30 percent till 2030
It said further geopolitical fragmentation could lead to "turmoil" in the commodity markets, causing long-term economic losses
Markets slump as US jobs data says labor market buoyant
The focus has been on US Treasury bond yields that have surged to levels not seen in over a decade,...Asian indices also ended mostly lower with Hong Kong leading the decline, falling nearly 2.7 percent as the market reopened after a holiday weekend
Russia's currency meanwhile continued to weaken on signs the country's economy is facing slower growth and higher inflation as the Ukraine war drags on
ADNOC, Fertiglobe to pilot cost-effective modular carbon capture technology
ABU DHABI, UAE – ADNOC and Fertiglobe on Tuesday announced the pilot deployment of the world’s first cost-effective modular CycloneCC...The CycloneCC technology is designed to improve the economics of point-source carbon capture within industrial facilities.
Traditional point source carbon capture technology relies on feeding gas through large absorption and stripping towers.
Jazan City for Primary and Downstream Industries exports first shipment to US
JAZAN, SAUDI ARABIA - The Jazan City for Primary and Downstream Industries has marked a significant milestone with the departure...The ship is laden with 37,000 tons of iron steel foundry product, representing the first-ever production of this commodity within the Kingdom.
The city's port has extensive capabilities and advanced logistical transportation services, making it a hub for trade exchanges in Saudi Arabia.
Yemen economy tanks as peace talks make no headway, say NGOs
"While economic challenges are rife across the country, rising inflation and the deterioration of public services are making life unbearable,"...Power cuts in Aden can last 17 hours a day and more than 50 percent of households in government-held areas cannot meet basic food requirements.
The World Food Program warned in August that more than four million Yemenis would receive less food assistance from the end of September.
Qatar begins construction on North Field gas expansion
RAS LAFFAN, QATAR - Qatar's state-owned energy giant began construction on Tuesday on a project to expand production from the world's...There has been mounting demand for Qatari gas as European consumer nations have scrambled to replace lost Russian deliveries.
Qatari Energy Minister Saad al-Kaabi called the project a "leap towards our country's leadership in the field of energy".
Najm inks pact with iot squared
The aim is to advance insurance services in the Kingdom.iot squared is a joint entity between the Public Investment Fund (PIF) and STC Group and it provides leading IOT solutions in the logistics service field.
Najm for Insurance Services was set up in 2007 due to cooperation between insurance firms, Saudi Central Bank and the General Department of Traffic.
Global energy demand to rise 25% by 2045: OPEC chief
Abu Dhabi, UAE - Global demand for all forms of energy is forecast to rise by 25% through 2045, according...No single energy source can meet the world's growing needs as the economy expands and the population increases, Al Ghais said
He added that despite some setbacks, global growth continues, and he was optimistic about future oil demand
Turkey’s inflation hovers near 60% after policy U-turn
The data suggest that Turkey's inflation rate is starting to peak after Erdogan signed off on a series of sharp...The TUIK state statistics agency said consumer prices rose by 61.5 percent over a 12-month period ending in September
The month-on-month increase in prices also slowed to 4.8 percent from 9.1 percent in August and 9.5 percent in July
