Space economy set to triple to $1.8trn by 2035, reveals new research
The growth of the space industry will largely be built upon the increased reach of space-based and/or -enabled technologies, such...Economy
Saudi’s Modon attracts $3.8bn industrial investments in 2023
Saudi Authority for Industrial Cities and Technology Zones (Modon) has announced significant progress in attracting industrial and logistical investments for...Economy
Saudi Arabia’s SVC invests $30m in Bedaya Fund II
RIYADH, SAUDI ARABIA - Saudi Venture Capital (SVC) announced its investment of US$30 million in Bedaya Fund II, which is...SVC is a government investment company and is a subsidiary of the SME Bank, one of the development banks affiliated to the National Development Fund.
SVC aims to stimulate and sustain financing for startups and SMEs from pre-Seed to pre-IPO by investing $1.6 billion in funds and co-financing in startups.
Finding private sector jobs difficult for 62% percent Emirati graduates
Despite this pessimistic view, however, 61 percent of the surveyed graduates expressed interest in joining the private sector, said PwC's...Despite this pessimistic view, however, 61 percent of the surveyed graduates expressed interest in joining the private sector, said PwC's Emiratization Survey 2023.
The survey sheds light on the efforts made by the UAE to enhance Emirati participation in the private-sector workforce, in line with the country’s national vision mandate.
Gas, infra deals inked as Qatar emir holds Baghdad talks with Iraq PM
Sheikh Tamim bin Hamad Al-Thani was welcomed by Prime Minister Mohamed Shia al-Sudani at the airport, images broadcast on Iraqi...The two sides signed agreements on oil and gas supply to Iraq, the establishment of a joint oil company and the construction of a refinery
Iraq's National Investment Authority also signed agreements with the Qatari firms working in the property and construction sectors
Sudan war death toll surges past 2,000 as fighting enters third month
Since April 15, the regular army headed by Abdel Fattah al-Burhan has been locked in fighting with paramilitary Rapid Support...In long-troubled West Darfur state, the violence killed Governor Khamis Abdullah Abakar, hours after he made remarks critical of the paramilitaries in a telephone interview
Miller said up to 1,100 civilians have been killed in West Darfur's capital, El Geneina, alone, while the @UN is reporting more than 273,000 have been displaced from the region
Xi Jinping meets with ‘old friend’ Bill Gates in Beijing
Gates -- one of the world's richest men -- is the latest in a string of Western business leaders to...The visit is Gates' first to China in four years, and included a rare sit-down between the Chinese head of state and a foreign business leader
A state media readout also quoted Gates as praising China's efforts in "tackling the Covid-19 pandemic, setting a good example for the world"
Phase out fossil fuels to avoid climate catastrophe
Limiting global temperature rise to 1.5 degrees Celsius is still possible but will require a 45 per cent reduction in...UN Secretary-General António Guterres urges a 45% cut in carbon emissions by 2030 to limit global temperature rise to 1.5°C
Current policies could lead to a 2.8°C temperature rise by the end of the century, posing a catastrophic threat, adds Guterres
Pause, hike, cut: Central banks diverge over regional challenges
The Bank of Japan (BoJ) has gone against the grain set by the Fed and ECB, announcing on Friday that...On Wednesday, the Fed paused interest rate hikes after 10 straight increases, bringing its benchmark lending rate from close to zero to a range between 5.0 and 5.25 percent
On Thursday, the People's Bank of China cut a key lending facility by 10 basis points to 2.65 percent, and extended 237 billion yuan ($33 billion) of fresh funding to lender
Siemens to expand business
BERLIN, GERMANY - German industrial giant Siemens said on Thursday it would build a new high-tech factory in Singapore and expand...Details on further investments in Europe and the United States across the globe are expected to follow, said Siemens.
The group's announcement came after the German government published its first National Security Strategy that took aim at China for acting against Berlin's interests.
Sri Lankan economy contracts 11.5 percent in Q1 2023
COLOMBO, SRI LANKA - Crisis-hit Sri Lanka's economy shrank by 11.5 percent in the first quarter just before an IMF bailout...The contraction in the first three months compared with shrinkage of 0.5 percent in the corresponding period of 2022.
A currency crisis from late 2021 led to severe shortages of food, fuel and medicines and triggered months of protests.
Audi Middle East achieves 33% sales growth in first 5 months of 2023
DUBAI, UAE : Â Â In the first five months of 2023, Audi Middle East achieved a 33 percent growth compared to...This success is bolstered by Audi's strategic partnerships and investments in electric vehicle infrastructure across the Middle East.
Audi's EV portfolio now features an extensive range of models, spanning sports cars, sedans, hatchbacks, and the SUVs.
