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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.
  • Drought caused major global hydropower drop in early 2023

    BANGKOK, THAILAND - Dry conditions, particularly in China, caused a "historic" global drop in hydropower in the first half of 2023,...

    Wind and solar generation grew more slowly in the first half of this year than in the same period last year.

    The chief of this year's COP climate meeting has called for a global tripling of renewable energy capacity by 2030.

  • Aramco’s Luberef resumes bitumen exports after 20 years

    RIYADH, SAUDI ARABIA - King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk...

    King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa making it the first cargo of oil byproduct from Yanbu-based hub.

    This reflects Mawani’s step to position the ports sector as a vehicle to fulfil Vision 2030’s ambition of transforming the Kingdom into a logistics hub.

  • Saudi Arabia to enhance air connectivity to over 250 destinations by 2030

    RIO DE JANEIRO, BRAZIL - A delegation led by President of the General Authority of Civil Aviation (GACA) Abdulaziz bin...

    The Kingdom plans on carrying 330 million passengers annually and raising freight capacity to 4.5 million tons by 2030.

    Saudi Arabia and the Dominican Republic also signed agreements on air transport services between the two countries.

  • Jailed Iranian activist Narges Mohammadi wins Nobel Peace Prize

    Mohammadi's award comes after a wave of protests that swept Iran after the death in custody a year ago of...

    She is the vice-president of the Defenders of Human Rights Centre founded by Iranian human rights lawyer Shirin Ebadi, herself a Nobel Peace Prize laureate in 2003.

    Mohammadi was honored "for her fight against the oppression of women in Iran and her fight to promote human rights and freedom for all".

  • EU foreign policy chief to visit China next week

    China while also maintaining ties with the world's second-largest economy. European Commission President Ursula von der Leyen has defined the...

    Borrell first pushed back the trip in April after testing positive for coronavirus and was then expected to go in July before China abruptly called off the visit

    He will meet Chinese Foreign Minister Wang Yi "to discuss bilateral relations as well as foreign policy and security issues", the EU official added

  • Israeli forces kill 3 Palestinian fighters in West Bank

    The Palestinian health ministry named the two men killed as Abdul Rahman Atta, 23, and Huthaifa Faris, 27, saying they...

    Israel's military said the deadly gunfight in the Tulkarem area had erupted after soldiers identified a "suspicious vehicle" near Shufa village

    Palestinian Red Crescent Society said Israeli forces "prevented our crews from treating them and took them away" from the scene at a Shufa checkpoint

  • US shoots down Turkish drone over Syria

    US troops observed drones carrying out strikes early Thursday, some of them inside a "restricted operating zone" (ROZ) near Hasakeh,...

    The shootdown came as Turkey targeted Kurdish forces in Syria following a suicide bombing in Ankara that was claimed by the Kurdistan Workers' Party

    Defense Secretary Lloyd Austin spoke with his Turkish counterpart Yasar Guler on Thursday, urging "de-escalation in northern Syria

  • UN’s Syria envoy deplores ‘horrific’ bloodshed

    "I am gravely concerned by the escalating violence in Syria today," Geir Pedersen, the UN Special Envoy for Syria, said...

    An attack on a Syrian military academy in Homs killed more than 100 people, a war monitor said, with state media blaming "terrorist organization"

    Separately, Turkish air raids in the Kurdish-held northeast killed at least nine people after Ankara had threatened raids in retaliation for a bomb attack

  • UAE President receives Speaker of Iranian Parliament

    Abu Dhabi, UAE – UAE President Sheikh Mohamed bin Zayed Al Nahyan on Thursday received Mohammad Baqer Qalibaf, Speaker of...

    During the meeting at Qasr Al Shati in Abu Dhabi, the UAE president conveyed his greetings to Iranian president Dr Ebrahim Raisi

    The two sides discussed relations between the two countries and ways to enhance ties, especially at the parliamentary level

  • West responsible for Ukraine war, Russia wants ‘New World’ says Putin

    Moscow, Russia - President Vladimir Putin said Thursday that Russia's mission was to create a "new world" and blamed Western hegemony...

    Putin has portrayed Russia's full-scale military intervention in Ukraine -- launched in February 2022 -- as part of a long-standing confrontation with the West

    Putin said the conflict in Ukraine was "not a territorial" one and that Moscow has "no interests from the point of view of conquering some territories"