EU skewers Google, Apple over tech rules – despite Trump threats
The European Union defied US threats of retaliation Wednesday by accusing Google of violating its digital rules -- which could...Technology
The future of logistics: Insights from DHL’s Amadou Diallo
The future of logistics is a convergence of technology, sustainability, and human ingenuity, which are transforming supply chains into more...Technology Business Economy Global Profile & Interviews
Saudi Arabia eyes global EV role following Lucid’s plant setup
Riyadh, Saudi Arabia -- Saudi Arabia aims to become a global player in manufacturing electric vehicles (EVs) and related products,...“The EV industry is one of 12 strategic industrial sectors covered by the National Industrial Strategy to boost the growth of industry across the Kingdom,” the minister added
Lucid Group’s choice of Saudi Arabia as the headquarters of its plant in the Middle East reflects the importance of kingdom’s unique geographical location, he added
China wants to be world’s strongest nation, says Blinken
WASHINGTON, US - China is seeking to surpass the United States as the top power in the world, US Secretary of...Asked at a forum about China's intentions, Blinken said, "I think that what it seeks is to be the dominant power in the world -- militarily, economically, diplomatically".
President Joe Biden's administration, while saying it is clear-eyed on China and stepping up pressure, has also been increasing dialogue in hopes of managing tensions.
UAE, Egypt central banks ink currency swap deal
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) on Thursday...The CBUAE is keen to deepen its cooperation with the CBE to positively impact the trade and investment, said the Governor of UAE’s central bank.
This step will bolster cooperation between the financial sectors in both the currencies, said the Governor of Egypt’s central bank.
Israel sells Arrow 3 missile defense system to Germany for US$3.5bn
TEL AVIV, ISRAEL - Israel's US$3.5-billion sale of its Arrow 3 missile defense system to Germany, sparked by security fears after...Israeli arms exports reached a new record of $12.5 billion dollars last year, double the amount from three years earlier, says its defense ministry.
Israel, together with its top ally the United States, has developed hi-tech systems designed to knock incoming rockets and missiles out of the sky.
UAE markets top Arab stock exchanges in trading, says AMF
ABU DHABI, UAE - The financial markets of the United Arab Emirates topped the Arab stock exchanges during last week's...The AMF said that the UAE markets achieved monthly market gains of over US$6.2 billion.
The fund said the market capitalization of the Saudi Financial Market reached US$2.97 trillion.
Technical glitch stifles production at Volkswagen
According to financial daily Handelsblatt, production came to a complete standstill in Wolfsburg and at the company's plants in Emden,...The disruption began at 12:30 pm (1030 GMT) and had still not been resolved by the evening, Volkswagen said
The cause of the technical problems was not known but "an external attack is unlikely to be the cause", German automaker said
Saudi Arabia raises the bar, says 100m tourist goal inadequate
Riyadh, Saudi Arabia - Saudi Arabia has announced its intention to revise its tourism goals, increasing the target number of...The previous target of 100 million visits is no longer sufficient, said Saudi minister Mahmoud Abdulhadi
In the first quarter of 2023, Saudi Arabia attracted 7.8 million tourists, the highest quarterly performance in the country's history
Masdar and PLN NP to triple size of Southeast Asia’s largest floating solar plant
Abu Dhabi, UAE--Masdar and PLN Nusantara Power (PLN NP) have signed an agreement to develop Phase II of the successful...The clean energy partnership between the UAE and Indonesia saw further consolidation when the two companies signed the deal to expand FPV plant
The UAE company has developed the region’s largest floating solar facility, the 145 MW Cirata floating solar PV plant in a joint ventre with PT PJB, now PLN NP
Markets mostly up but US rate outlook feeds uncertainty
With inflation still sitting well above the central bank's target and the labor market showing few signs of softening, decision-makers...All three main indexes on Wall Street tanked Tuesday, shedding more than one percent apiece.
Asia started on the back foot but most markets managed to eke out gains following a painful start to the week.
Russian economy to grow 1.5 percent this year, says key European bank
After having forecast a contraction earlier this year in Russia's economy, the European Bank for Reconstruction and Development is now...it said the outlook for 2024 will depend heavily on how the war on Ukraine and the related economic sanctions evolve
Russia's central bank has forecast the country's economy to grow between 1.5 and 2.5% this year and between 0.5 and 1.5% in 2024
