S&P affirms Saudi Arabia’s A/A-1Â credit rating
Riyadh, Saudi Arabia - The international credit rating agency S&P Global Rating affirmed its foreign and local currency sovereign credit...Economy
UAE, Hungary ink pact to enhance trade, investment ties
ABU DHABI, UAE – The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade...Business Economy Geostrategy
‘European Space Agency to intensify cooperation with UAE’
"I have decided to send a group of people from my ESA team to the UAE to see which domains...Aschbacher says ESA's plan is to establish navigation and communication around the moon and on the moon surface, just like having a mobile phone on Earth
He believes unifying people is one of the beauties of space exploration, besides developing technology, attracting young talents, fostering stem education, and economic growth
Fusion energy will be game-changing viable energy source
Private sector partners can leverage the scientific work done in public laboratories to develop the technology needed for fusion power...Private sector partners can leverage the scientific work done in public laboratories to develop the technology needed for fusion power plant applications, says top US physicist
The recent discovery in inertial confinement fusion marks a significant milestone in the development of fusion energy as a viable energy source, highlights Kimberly Budil
Syrian students learn German in order to prepare for life abroad
Damascus, Syria--His medical studies in Syria keep Mohammed Shasho busy enough but whenever he can he also pores over German vocabulary...In Syria, classes to learn German have proliferated in recent years as students seem to have turned their backs on English or French, the foreign languages prefered earlier
The medical brain drain has begun to worry Syrian officials and physicians with many expressing concern about the exodus of medical students, but few terming it a reality
In troubled Libya, young robotics fans see hope in hi-tech
Libya has seen more than a decade of stop-start conflict since a 2011 NATO-backed revolt toppled strongman Moamer Kadhafi, with...The robotic competition is aimed at preparing the workers of the future and make the country aware of the importance of technology and innovation, event coordinator said
The event, funded by an international school and private sponsors, had been envisaged since 2018 but repeatedly delayed because of unrest and then the Covid pandemic
Shunned for long, KSA welcomes home top designer
Western fashion was once largely taboo in Saudi Arabia, but with the kingdom undergoing great social changes, a designer is...Mohammed Ashi made his career abroad, training in the United States and working for Givenchy and Lebanese couturier Elie Saab
International stars like Beyonce, Deepika Padukone, Zendaya and Cardi B wear his outfits, showing up on red carpets from the Oscars to Cannes
US banking crisis after SVB fall to have limited impact on Europe: rating agencies
Markets were rocked earlier this week by the collapse of two US regional lenders, SVB and Signature Bank, which forced...Moody's said the structure of European banks limited their exposure to the collapse of Silicon Valley Bank because they placed a larger share of deposits with central banks
Interest rate tightening "likely still has some way to run" and "developing stresses in the US banking system will also weaken investor confidence, the rating agency warned
OPEC projects world oil demand to average 101.9 mb/d in 2023
Vienna, Austria – The Organisation of the Petroleum Exporting Countries (OPEC) projected oil demand to grow by a healthy 2.3...The world economic growth forecast for 2023 is expected at 2.6% y-o-y, following growth of 3.2% in 2022
On crude oil futures prices, OPEC said, the prospect of oil demand recovery in China limited futures price losses
UAE and Japan look to widen economic, trade, investment ties
Tokyo, Japan--The UAE and Japan are looking to increase economic, trade and investment cooperation, and explore new economic opportunities of...Al Zaabi exhorted Japanese companies to utilize opportunities in Abu Dhabi and benefit from the UAE's position as a gateway to the Middle East, Africa, and South Asia
Kodaira said that the meeting comes at a time when Japan and the UAE are beginning a new half-century of economic cooperation in different fields
Is Saudi Arabia considering three-day weekend?
The Kingdom is analyzing the new work structure to enhance job creation and make the labor market more appealing to...The Kingdom is analyzing the new work structure to enhance job creation and make the labor market more appealing to domestic and foreign investors, reports suggest
If Saudi Arabia follows suit, it would be the second Arab country after the UAE to institute a shortened workweek. At present, the Kingdom applies a system of five working days
Morocco joins Spain, Portugal to launch bid for 2030 World Cup
Morocco has joined the bid by Spain and Portugal to host the centenary World Cup in 2030, according to its...South Korea and Japan in 2002 shared the competition, and in 2026, the finals will be played in the US, Mexico and Canada
Morocco, in December in Qatar, became the first nation from either Africa or the Arab world to reach the semi-finals
In Brief
The investment in the Dammam warehouse will bring the value of Investcorp’s global warehousing logistics investments to over $4 billion . Investcorp set to invest $1bn in GCC real estate over next five years