ENEC and General Atomics to collaborate on use of technology for nuclear energy
Abu Dhabi, UAE--The Emirates Nuclear Energy Corporation (ENEC) today announced that it has signed a Memorandum of Understanding (MoU) with...Economy Energy
IMF chief urges countries to strengthen independence of central banks
"Financial stability benefits the whole economy and reduces the risk that the central bank becomes reluctant to raise interest rates...Economy
ACWA Power to build 1,000 megawatt solar power plant in Iraq
Riyadh, Saudi Arabia--ACWA Power will construct a 1,000 megawatt solar power plant in Iraq, the first clean energy project in...The joint venture project, according to Iraqi minister, will be developed in Central Iraq’s Najaf city, around 160 km south of the capital
In 2021, Iraq signed a contract with PowerChina to build 2,000 MW solar plants in the nation to fulfill its growing demand for electricity
Dollar could gain as markets anticipate a Fed rate hike: expert
Dubai, UAE - The US dollar could record some gains as markets increasingly see a higher probability that the Federal...The constant surprises in US economic data during the last few weeks have focused traders’ attention on the US currency, Wael Makarem, Senior Market Strategist, MENA at Exhe added
The Japanese yen, Makarem said, could see more weakness against the dollar in the near term with the Bank of Japan maintaining its accommodating monetary policy
GCC-listed firms post record growth in 2022, fueled by a thriving energy sector
Net profit reported by the companies jumped to a record high of US$ 273.3 billion in 2022, compared to US$...Net profit reported by the companies jumped to a record high of US$ 273.3 billion in 2022, compared to US$ 199.0 billion in 2021
The energy sector alone witnessed US$ 74.2 billion, or 37.3 percent growth, mainly on the back of a steep jump in profits led by Aramco
Air France, Airbus acquitted over 2009 Rio-Paris crash
PARIS, FRANCE - Air France and plane manufacturer Airbus were acquitted Monday over the 2009 crash of a Rio-Paris flight after...The two companies went on trial in October to determine their responsibility for the worst aviation disaster in Air France's history.
If convicted, Air France, Airbus would have risked a fine of US$250,000 as well as significant reputational damage.
Stocks mixed, dollar firms on rate-hike fears
Stock markets traded mixed as last week's optimism gave way to worries that central banks may wait longer than expected...The dollar firmed on prospects of more US rate-tightening and oil prices slipped.
Cooler inflation is said to have eased the pressure on the European Central Bank.
Delegation highlights investment opportunities in Ras Al Khaimah
RAS AL KHAIMAH, UAE - A delegation from Ras Al Khaimah Economic Zone (RAKEZ) has concluded its visit to Russia...RAKEZ delegation met people from construction, manufacturing, information technology and fast-moving consumer goods trading.
The audience in Russia was keen on exploring sectors such as cement, building materials, engineering services and raw materials trading.
Nile-side Egypt town heralds spring with millennia-old pungent delicacy
The delicacy of saltwater fish, buried in salt for weeks at a time, remains a staple as Egyptians celebrate on...The traditional dish feseekh dates back more than 4,000 years and has been found in archaeological sites in Egypt, said former antiquities minister Zahi Hawass
Even a sharp economic crisis impacting every facet of Egyptian life over the past year, has not stopped locals from getting feseekh at a price of about $7-8 per kilo
Saudi Arabia and Netherlands discuss export of clean hydrogen to Europe
Riyadh, Saudi Arabia-- Saudi Arabia and the Netherlands have discussed the possibility of exporting clean hydrogen from the kingdom to...The two also discussed the kingdom's efforts in clean energy and climate change through its local and regional initiatives
In a separate meeting, the Saudi Foreign Minister Prince Faisal bin Farhan and the Dutch minister reviewed the bilateral relations between the two nations
More than 40 people killed in Syria attacks blamed on IS
The Observatory, which has a wide network of sources on the ground in Syria, said fighters riding motorbikes also attacked...Since February, more than 240 people have been killed in IS attacks targeting truffle hunters or by landmines left by the extremists
Remnants of explosives laid by all sides in the conflict are now claiming more lives in Syria than anywhere else in the world, says the UN
Annual inflation in Qatar shoots up 4.01 percent in March
Doha, Qatar-- Inflation in Qatar rose by 4.01 percent year-on-year in March, because of a rise of prices across eight...Recreation and culture posted the highest increase, climbing up to 13.63 percent, according to the data released by the Planning and Statistics Authority
During the fourth quarter of 2022, Qatari banks recorded the highest loan increase among Gulf lenders, despite a stiff interest rate environment
