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Aramco CEO terms energy transition strategy a failure
Speaking at the CERAWeek conference in Houston, Saudi Aramco Chief Executive Amin Nasser said that the current transition strategy is visibly failing on most fronts. adding that this is "hardly the future picture some have been painting." Fossil fuels accounted for 82% of global consumption last year.ExxonMobil Chief Executive said "we're not on the path" to reaching net zero emissions by 2050
In November last year, COP28 conference included a call for a transition away from fossil fuels
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GCC economies eye $2.5trn from better productivity
The region pins hope on the new Productivity Potential Index that offers a forward-looking framework, incorporating environmental, health, and innovation factors.Economy
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The United Arab Emirates has reaffirmed its strong commitment to the Palestinian people, expressing solidarity and unwavering support for the residents of the Gaza Strip during these challenging times, says Reem bint Ebrahim Al Hashimy, the UAE’s Minister of State for International Cooperation.
“The activation of the maritime corridor is crucial. It will serve as an essential lifeline for the people of Gaza, speeding up the delivery of critical supplies to those in urgent need, especially in northern Gaza. It will provide a vital supplementary route in addition to the existing land crossings," she adds.
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Cross-border fire between Hizbollah and Israel leaves 16 dead
Israeli rescue teams searching a damaged building in the border town of Kiryat Shmona "found a 25-year-old who was unconscious, with no pulse and not breathing", and pronounced him dead at the scene, the Magen David Adom emergency service said.
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Global challenges hit M&A activity in Middle East, GCC
Sovereign Wealth Funds emerge as pivotal players, driving economic diversification and strategic cross-border partnerships, says Riccardo Molinari of Bain & Company.Business
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Israel backtracks on canceled Rafah talks: US official
Israel's prime minister cancelled the visit after the US abstained on the UNSC vote, allowing it to pass. But Israel backtracked, after the White House said it was "perplexed" by the move. The U-turn came after Israeli defense minister had "constructive discussions" with senior US officials in Washington.Netanyahu last week agreed to a request by Biden to send a team to Washington to hear US concerns
The United States also insisted its abstention did not represent a shift in policy on Israel
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Digital transfers reshape MENA’s financial landscape
The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong commitment to financial inclusion, says a report.
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Consumer products sector grows amid rising prices
The consumer products sector enjoys tremendous growth, with retail sales value for the industry globally rising by close to 10 percent year on year in 2023, says a report.Business
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UN expert faces threats after Israel Gaza ‘genocide’ remarks
Francesca Albanese, the UN special rapporteur on the rights situation in the Palestinian territories, said this week there were reasonable grounds to believe Israel was "committing the crime of genocide against the Palestinians as a group in Gaza". She said she had received "nothing that so far I have considered needing extra precautions."
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In Middle East, ‘manufacturing’ is a new buzzword
From Saudi Arabia to the UAE and Qatar to Kuwait, governments across the region compete to jumpstart industrial sector but doubts remain whether it can be pulled off.
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UN Palestinian agency chief says funding secured until end of May
Gaza has endured almost six months of war and a siege that has cut off most food, water, fuel and other supplies, and the UN has warned that its 2.4 million people are on the brink of a "man-made famine". The flow of aid trucks from Egypt has slowed amid the ongoing war.UNRWA is in crisis since Israel accused that a dozen of its employees were involved in October 7 Hamas attack
UNRWA chief warned last month that the funding crunch was so great the organization might not be able to operate beyond March
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Innovation, expansion spur Gulf retail after pandemic
GCC retail sector evolves dynamically, blending innovation with tradition to woo investment, says Khalifa Bin Braik of Majid Al Futtaim Asset Management.Business
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Diversification helps GCC surge in global markets
Gulf economies are witnessing transformative growth and resilience with the UAE, Saudi Arabia, and Qatar leading the way in global competitiveness, says a report.Economy
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Syria strikes kill 17 including Iran Guard, WHO worker
According to the Syrian Observatory for Human Rights monitor, an Iranian Revolutionary Guards adviser, his two Iranian security escorts, and four Syrian and nine Iraqi fighters with pro-Iran groups were killed in strikes on a villa in Deir Ezzor city and on the town of Albu Kamal on the Iraqi border.
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MENA ups cybersecurity ante to combat GenAI risks
With GenAI emerging as a new frontier for cyber threats, and stricter data privacy laws coming into effect, organizations are investing heavily to safeguard their futures.Business
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US defense chief tells Israeli counterpart that Gaza toll is ‘too high’
US Defense Secretary Lloyd Austin told his Israeli counterpart Yoav Gallant that civilian casualties in Gaza are "too high". A separate Israeli delegation was supposed to visit Washington to discuss US concerns over Prime Minister Benjamin Netanyahu's plans to launch an assault Rafah, where much of Gaza's population has sought refuge.A senior Pentagon official said that US Defense Secretary had discussed his hopes that negotiations would "soon produce the release of all hostages."
The United States has backed Israel with both military and diplomatic support.
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Shifting dietary trends boost MEA’s protein market
Rise of flexitarian and vegan diets in the region is driving demand for alternative proteins, with the market expected to cross $2.71 billion by 2029, says a report.Business
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Arab women: Pioneers in arts, sports, and culture
Outstanding Arab women leave a lasting impact in their respective fields, inspire countless individuals, and shape the future of the interconnected domains.Arts & Culture
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