Asia-Pacific markets mixed, dollar down Monday as Fed readies to acknowledge cuts
Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a...Economy
Disparities in climate action risk worsening global economic inequality, warns new report
Geneva, Switzerland – A recent report by the World Economic Forum (WEF) highlights the growing concern that unequal access to...Economy
Saudi Arabia’s banks post 9.6% rise in aggregate profits in July to US$1.71bn
Riyadh, Saudi Arabia-- Banks in Saudi Arabia have reported a 9.6 percent increase in aggregate profit to $1.71 billion in...The central bank said the aggregate assets of the banks jumped 8.84 percent year-on-year in July to $1.02 trillion
The bank also revealed that loans disbursed to the private sector increased 9.97 percent year-on-year in July to $648 billion
Sharjah to host Gulf-Iraq business forum to ramp up economic ties
Sharjah, UAE--Sharjah will host the first-ever Gulf-Iraq Business Forum on 26th and 27th September to boost economic ties between the...The business forum will look into boosting investment and trade ties between the GCC countries and business groups within Iraq
Iraq has been an old business and trading partner for the countries in the GCC region and the forum will seek to consolidate the cooperation
Saudi Arabia and Turkey to boost ties in industrial, mining sectors
The two countries signed a memorandum of understanding (MoU to boost mining cooperation in critical minerals needed in new technologies...The two countries desire to ramp up mutual investments in the manufacturing sector
Turkish companies would attempt to obtain more shares of Saudi Arabia's projects
GCC shows economic resilience as inflation hits globe
GCC countries consistently maintain inflation rates below the global average, with the Food and Beverages CPI subcategory showing moderate growth...GCC countries consistently maintain inflation rates below the global average, with the Food and Beverages CPI subcategory showing moderate growth across the region
Saudi Arabia's CPI is being driven by housing and food, the UAE experiences a sharp CPI drop due to transport costs, while Qatar sees its lowest inflation since July 2021
NEOM to set up education, research and innovation center
TABUK, SAUDI ARABIA – NEOM has announced plans to establish a world-class education, research and innovation (ERI) center, following last...NEOM’s ERI center will enable access to a world-class education, research and innovation ecosystem at any stage of the life of a learner.
The curricula deployed across NEOM’s ERI pillars will prepare a digitally fluent workforce, equipping students with real-life skill sets.
French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
Oman and South Korea sign agreement on green energy transition
Muscat, Oman--Oman has signed a memorandum of understanding (MoU) with South Korea in the field of green energy transition.The MoU...The agreement underscores keenness in both countries to consolidate cooperation in green transition as the relations deepen
The two countries will devise green transition policies and programs and develop technologies for environment conservation
It’s time to address universal issues through media
Many Filipino media professionals are working in the UAE that forms the core of media cooperation. “Given the strong friendly...The Philippines believes in the value of nations working together to explore new approaches to address global issues and concerns, through the media
Given the strong friendly relations between the Philippines and the UAE, there is much more potential in many areas, especially in the media sector
Red Sea Global launches ‘Tamala’ to transform agricultural economy in Tabuk
Riyadh, Saudi Arabia--Red Sea Global (RSG) has announced the launch of the Red Sea Farms Cooperative (Tamala), established through integrated...Tamala intends to develop a model entity in order to boost the role of cooperatives in the agricultural sector in the kingdom
It plans to provide agricultural inputs to farmers which contribute to improving agricultural production and farmers' quality of life
Iraq to harness Associated Petroleum Gas to generate electricity
Baghdad, Iraq - The Iraqi government has launched a project to harness the Associated Petroleum Gas (APG) from the Bin...The project's principal advisor Mounir Bouaziz said that the field's production capacity is scheduled to range from 400,000 to 500,000 barrels of light oil per day
Once completed, the project will eliminate the need for import of a significant portion of gas while also meeting the requirements for operating electric power plants
