Author: Forbes Middle-east

Alexandria-based Sidi Kerir Petrochemicals Co. (Sidpec) said Monday it plans to import liquefied ethane gas (American shale gas) by setting up a new firm in collaboration with other Egyptian companies amid a shortage in local supplies….

Saudi Aramco has discovered oil and natural gas fields in the Eastern Province of the Kingdom, according to Energy Minister Prince Abdulaziz bin Salman….

There is no evidence of major birth defects in babies born to mothers vaccinated against COVID-19 during the first trimester of pregnancy, according to new research, underscoring the safety of vaccination during pregnancy amid mounting evidence of the severe health risks infections can cause for mothers and babies….

Germany is one of the foremost tourist destinations in the world, renowned for its cultural, historical, and geographical diversity….

Saudi Arabia's Public Investment Fund (PIF) reportedly posted a $36.8 billion profit (SAR 138.1 billion) in 2023, after recording a 15.6 billion loss a year earlier, as the kingdom advances its Vision 2030 economic diversification agenda spearheaded by the PIF….

Healthcare solutions provider PureHealth announced the successful sale of its entire equity interest in Abu Dhabi Stem Cells Center and Yas Clinic to streamline operations and reallocate resources towards profitable business activities….

ACWA Power signed a financial agreement for the $533 million (SAR 2 billion) Tashkent Riverside project in Uzbekistan. …

German inflation has resumed its downward trajectory, falling more than expected in June after two consecutive months of increases….

Donald Trump has immunity from official acts he took as president, the Supreme Court ruled in a 6-3 ruling—though it doesn’t necessarily end his federal criminal case for trying to overturn the election, as the court ruled he can still be charged for activities outside his official duties….

European stocks and the euro rose Monday as results of the first round of France’s parliamentary elections showed Marine Le Pen’s far-right National Rally (RN) party only took a slight lead, reducing risks of spending plans that could throw financial markets off balance….

Nasdaq Dubai has welcomed the listing of $400 million Sukuk by UAE-based property developer Arada Developments, marking the group's second listing on Nasdaq Dubai and first under its $1 billion Sukuk program….

BP, Masdar, Hassan Allam Utilities, and Infinity Power agreed to explore the development of a green hydrogen project in Egypt. …

Oil prices settled around 2% higher on Monday due to expectations of peak demand levels during the summer season and extended output cuts by the Organization of Petroleum Exporting Countries and its allies (OPEC+) to stabilize the market….

UAE’s Yahsat has selected SpaceX for launching its advanced new geostationary satellites Al Yah 4 (AY4) and Al Yah 5 (AY5) in 2027 and 2028, respectively….

Passengers and crew of British Airways flight BA149, taken hostage during the First Gulf War in Kuwait in 1990, are suing both the UK government and the airline for compensation reportedly up to $213,000….

Robert Abi Nader's autumn-winter 2024 collection unveiled at the Westin Hotel in Paris was a focus on humanizing pictorial elegance. …

Google has partnered with BlackRock’s Climate Infrastructure business to help develop a 1 gigawatt (GW) pipeline of new solar capacity in Taiwan, according to a Google blog post published on Monday….

ADNOC Logistics and Services awarded South Korean shipyards Samsung Heavy Industries and Hanwha Ocean up to $2.5 billion (AED 9.2 billion) in shipbuilding contracts for new LNG carriers….

Airbus said it will receive $559 million in compensation for acquiring Spirit AeroSystems Holdings' loss-making plants that supply essential parts for its A220 and A350 passenger jets….

Asia's factory activity grew in June, fueled by strong global demand and an optimistic outlook for chip production….

Boeing said Monday it acquired Spirit AeroSystems Holdings Inc. in a stock-funded deal at an equity value of approximately $4.7 billion, or $37.25 per share….

BlackRock, a US-based investment firm, is set to acquire Preqin, a British private markets data solutions provider, for $3.2 billion (£2.6 billion) in a cash deal….

Pixar’s standout summer hit “Inside Out 2” crossed the $1 billion milestone Sunday, the first film to gross 10 figures globally since “Barbie” last summer and the fastest an animated film has ever crossed the threshold….

Saudi Arabia's state oil giant Aramco has awarded contracts worth over $25 billion to launch the second phase of development at the Jafurah gas field and the third phase of expanding its main gas network….

Gulf International Bank has announced the issuance of a $500 million five-year bond under its Euro Medium Term Note (EMTN) program….

Remittance flows to the Middle East and North Africa (MENA) region saw a steep drop in 2023, plummeting by 15% to $55 billion….

Warren Buffett, the chairman and CEO of Berkshire Hathaway, has donated $5.3 billion worth of Berkshire Hathaway stock to five charitable organizations….

The Sovereign Fund of Egypt (TSFE) signed four agreements for green ammonia projects with European developers, committing to an investment of approximately $33 billion….

Saudi Arabia's net flow of foreign direct investment (FDI) rose by 5.6% in the first quarter of 2024 to reach $2.5 billion (SAR 9.5 billion), official data showed….

K-pop group SEVENTEEN has pledged $1 million to finance the joint Global Youth Grant Scheme with UNESCO as part of their role as the UN cultural agency's first Goodwill Ambassador for Youth….

Thousands of new China-based vendors are selling each month on Walmart.com, part of the company’s strategy to chase after competition from Amazon and now Temu….

Producing a hit TV series like The Bear was once a path to serious riches for its cast and creators. But in another massive entertainment shift, developing groundbreaking shows is worth hundreds of millions less than it used to be….

Egypt signed four financing agreements worth $320 million funded by grants from the European Union (EU)….

China is urging Taiwanese people to visit the mainland without concern after Taiwan's government raised its travel alert level….

European companies have entered into investment agreements potentially exceeding $42.85 billion (€40 billion) with Egypt….

TikTok Shop has gained even more traction since the US president signed a law that may ban TikTok early next year. But if it goes away, Chinese e-commerce giants Temu and Shein could be the biggest winners….

Norway-based Fantasy Chess has raised $3 million in initial pre-seed funding led by local VC firm SNÖ Ventures and Coatue….

Some swimming events in the 2024 Paris Olympics could be canceled or postponed, officials said, as the company responsible for the city’s water supply warned of unsafe pollution in the River Seine less than a month before the start of the games….

Oil prices settled lower Friday amid weak US fuel demand, while key US inflation data for May raised hopes that the Federal Reserve will start cutting interest rates this year, which could boost fuel consumption growth. …

Saudi Aramco will acquire a 10% stake in a joint venture between automakers Renault and Geely, valuing the thermal engines business at $7.93 billion….

Global equity funds witnessed their strongest weekly inflows in three months driven by expectations of moderating US inflation, raising hopes that the Federal Reserve will implement its first rate cut this September. …

Shares of Nike nosedived Friday, setting multiple dubious milestones as the sneaker and athletic wear company faces investor dissatisfaction….

Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus of $4.8 billion (QR 17.6 billion) in May, marking a 3.5% year-on-year decline and a marginal 0.9% increase compared to April….

A key inflation measure fell to its lowest level in more than three years last month, but there’s still plenty of work remaining to get price increases down to the historically acceptable level….

Shares of Trump Media & Technology Group jumped more than 10% at times during pre-market trading Friday morning, following the highly anticipated debate between former President Donald Trump and President Joe Biden that most pundits say went disastrously for the sitting president….

Explora Journeys, MSC Group's luxury lifestyle ocean travel brand, celebrated its partnership with the Louis Vuitton 37th America's Cup last week aboard the EXPLORA I cruise ship docked in the port of Barcelona, Spain….

AI chatbots ChatGPT and Copilot spread a debunked claim about the first presidential debate between President Joe Biden and former President Donald Trump….

Berlin, the capital of Germany, can be characterized as a city that exudes vitality. …

Saudi Aramco reportedly plans to acquire a 10% stake in Horse Powertrain, a newly established thermal engine joint venture (JV) of French automaker Renault and China's Geely. …

Paris is renowned for its iconic landmarks, world-famous museums, and charming cafés. However, the true essence of the city lies in the details of daily life, which give the City of Light its unique flavor. …

Former President Donald Trump did not fully commit to accepting the results of the upcoming elections in November during the first presidential debate….

The International Monetary Fund (IMF) urged the US to raise both direct and indirect taxes to curb rising debt levels and find efficiencies in discretionary and non-defense federal spending. …

Shares of Nike tumbled more than 12% in extended trading after the sportswear giant lowered its guidance for the fiscal 2025, despite its quarterly profit surging by 45% to $1.5 billion….

As the only Saudi designer on the official Haute Couture Week calendar, Mohammed Ashi's autumn-winter 2024 collection is a testament to the fact that he’s got what it takes and he knows what he’s doing. …

The US Senate budget committee launched a probe of 18 oil producers about any efforts to illegally coordinate oil prices with OPEC….

Oil prices edged up in early trade on Friday, fueled by concerns over potential supply disruptions due to escalating geopolitical tensions and weather-related interruptions to the supply chain….

Foreign investments in the Saudi capital market reached a record $52.7 billion (SAR 198 billion) in 2023, indicating a rise of 7.7% compared to the previous year, according to the Capital Market Authority (CMA)’s annual report released Thursday….

About $1.3 billion has been added to former President Donald Trump’s net worth over the last week, as shares of Trump Media have significantly rebounded since falling below $27, though the value of his stake in the firm—the parent of social media platform Truth Social—is still down by more than $1 billion this month….

US-based asset management firm Invesco has launched a new climate-focused exchange-traded fund (ETF) with a $1.6 billion investment from Finnish pension insurer Varma, according to a statement released Thursday….

The International Federation of Association Football (FIFA) is reportedly working with Switzerland's UBS group to raise as much as $2 billion to expand FIFA+, its free streaming service that offers live coverage of matches….

Meta must face a proposed class-action lawsuit alleging it prefers hiring foreign workers over U.S. citizens, a California-based federal appeals court ruled Thursday, after the lawsuit was originally thrown out in late 2022….

Ahead of Asteroid Day on Sunday, an asteroid larger than 99% of all known near-Earth asteroids and a second asteroid that will come closer than the moon, will pass Earth this week, and scientists are keeping an eye on them because of their size and how close they’re coming, though any threat level is low….

DAMAC’s digital infrastructure provider Edgnex said it will launch a data center in Bangkok, Thailand, as part of its expansion plans in the Asia Pacific region….

Astronauts aboard the International Space Station (ISS) were asked to take shelter from the potential impacts of space debris after a nearby Russian satellite broke up into more than 100 pieces of debris in orbit….

The global market for carbon dioxide removal is estimated to reach $100 billion a year between 2030 and 2035 if barriers to its growth are addressed, according to an Oliver Wyman report….

Türkiye’s central bank on Thursday kept its key interest rate steady at 50% for the third consecutive month as the country continues to face persistently high levels of inflation….

Oil prices settled higher Thursday as geopolitical tensions in the Middle East increased supply disruption risks, offsetting fears of waning demand following an unexpected increase in US stockpiles….

The Egyptian travel and tourism sector contributed a record $19.8 billion (EGP 953 billion) to the country’s gross domestic product (GDP) during 2023, indicating a full recovery, according to a report by the World Travel & Tourism Council (WTTC)….

French construction materials group Saint-Gobain has agreed to acquire FOSROC, a Dubai-based construction and chemicals company, for $1.03 billion (€960 million) in an all-cash deal….

Boeing is reportedly ramping up quality control efforts at its Renton manufacturing plant to improve the quality of its 737 MAX passenger aircraft following regulatory backlash over the Alaska Airlines incident….

For his fall 2024 Haute Couture collection, Elie Saab turns to Slavic traditions incorporating its dusha (soul) and surrealism….

Italian energy giant Eni plans to sell 100% of its Nikaitchuq and Oooguruk assets in Alaska to US-based firm Hilcorp….

Elon Musk’s SpaceX is readying an insider share sale in a tender offer that values the commercial rocket company at above $200 billion, Bloomberg reported late Wednesday, amid a string of successes in the past year, including multiple crewed launches and receiving the contract to bring down the soon to be decommissioned International Space Station….

Swedish fashion retailer H&M posted a 52% jump in its net profit to $472 million (SEK 5 billion) in the second quarter, but its shares plunged by over 13% on a sluggish sales forecast for this month….

The Saudi Power Procurement Company has signed power purchase agreements for three solar energy projects with a total capacity of 5,500 megawatts, the Ministry of Energy said….

The original watercolor painting that was later used as the cover art for the first ever “Harry Potter” book shattered a franchise memorabilia record when it sold at Sotheby’s auction house in New York Wednesday for $1.9 million—almost four times as much as the previous record holder’s sale….

Canadian software maker BlackBerry Ltd reported a first-quarter net loss of $42 million, with its revenue declining to $144 million from $373 million a year ago….

The apology came after Citadel CEO Griffin agreed to dismiss his tax leak suit against the IRS and the Treasury….

China's industrial profit growth slowed in May, signaling the weak domestic demand levels that is hindering the progress of the world's second-largest economy. …

Interactive Brokers—-one of the largest online trading platforms—lost an estimated $48 million after a glitch hit the New York Stock Exchange earlier this month….

Japan has warned of possible intervention in the foreign exchnage market after the yen plunged to a 38-year low against the US dollar, according to media reports….

Researchers suggest Americans get their nutrients from food rather than supplements after a new study found daily multivitamin use doesn’t decrease the risk of death, which is the newest research in the long-debated topic about the benefits of multivitamins….

The Dubai Integrated Economic Zones Authority (DIEZ), and logistics giant Aramex began Wednesday the pilot testing for Aramex's autonomous robot delivery system at Dubai Silicon Oasis (DSO)….

The UAE has successfully closed the offering of a US dollar-denominated $1.5 billion bond issue, with its order book exceeding $6.5 billion….

Smart devices, which are prevalent everywhere today, provide instant access to information and rapid communication. Despite their importance in daily life, they noticeably affect our level of attention through constant notifications that distract us and weaken our ability to focus….

The Japanese yen plunged to its lowest against the US dollar since 1986 Wednesday, despite the Japanese authorities' recent intervention in the foreign exchange market to support the struggling yen….

The latest episode of Kitab Hayati featured Emirati singer Abdullah Bilkhair as a guest, where he candidly shared his life experiences and journey with the viewers….

Amazon netted a $2 trillion market capitalization for the first time ever Wednesday, becoming one of a handful of companies in the world valued at over $2 trillion as the recent AI-driven tech rally continues to mint new milestones….

Oil prices declined Wednesday after data released by the US Energy Information Administration (EIA) showed that crude oil inventories increased by 3.6 million barrels to 460.7 million barrels from a week earlier….

Sharjah Islamic Bank (SIB) has sold $500 million in US dollar-denominated five-year sukuk, attracting substantial interest from investors, a document from one of the arranging banks reportedly showed on Wednesday….

FedEx shares paced Wednesday toward one of the biggest gains in the delivery giant’s 46 years as a public company, after FedEx’s quarterly earnings report brought investors the whole package….

Saudi Arabia’s Aramco has signed a non-binding deal to purchase 5 million tons per annum (mtpa) of liquified natural gas (LNG) from the US-based energy firm Sempra, as the oil giant continues its efforts to strengthen its position in the LNG market. …

Qatar Airways is reportedly in negotiations to buy a 20% stake in Bain Capital-owned Virgin Australia, as the Qatari government-owned airline looks toward ramping up its expansion plans with new investments outside the Middle East….

About 1.8 billion adults are at risk of diseases like cancer, stroke, dementia, and type 2 diabetes due to lack of exercise, the World Health Organization (WHO) said in a report Wednesday, adding that the findings point to a worrying trend….

Nasdaq has announced the termination of its sales agreement with the European Energy Exchange (EEX)….

Singapore has seized $4.4 billion (6 billion Singaporean dollars) linked to crime and money laundering in more than five years between January 2019 and June 2024….

The city of Verona was on Georges Chakra’s mind for his autumn-winter 2024 couture collection this season. …

South Korea's finance ministry has announced a comprehensive financial support package, including low-interest loans totaling $12.2 billion (KRW 17 trillion) set to launch in July….

Artificial intelligence company Anthropic’s latest generative AI model, Claude 3.5 Sonnet, is already performing well against leading rivals like OpenAI’s GPT-4o on key AI benchmarks days after release….

Drawing inspiration from the mythical transformation of nymphs, Tony Ward's Fall/Winter 2024 collection presents a vision of powerful women reborn through the artistry of his atelier….

Egypt's Misr Fertilizers Production Company (MOPCO) suspended operations at its three plants on Wednesday due to a natural gas shortage….

The strong US dollar has put downward pressure on the Japanese yen and Chinese yuan, as traders await the release of crucial US inflation data. …

German consumer sentiment is set to marginally fall in July, ending a four-month-long recovery, according to a survey….

Ukrainian President Volodymyr Zelenskyy confirmed Ukraine began membership talks with the European Union….

Upstart electric vehicle maker Rivian said Volkswagen is investing up to $5 billion in the electric vehicle maker….

Oil prices increased slightly on Monday, prompted by a projected drawdown in global oil inventories during the peak demand season….

Short sellers in Nvidia shares have gained nearly $5 billion in paper profits after the stocks of the artificial intelligence chip designer plunged over the past three sessions….

WikiLeaks founder Julian Assange pleaded guilty Tuesday to one charge of violating the Espionage Act, according to multiple outlets….

Dubai has been bumped off the top 10 most expensive cities for the ultra-rich despite it being the wealthiest city in the Middle East and a booming financial hub, according to a report published Tuesday by Swiss private bank Julius Baer….

Abu Dhabi-based e& announced plans on Tuesday to acquire Türkiye-based GlassHouse technologies for $60 million, marking entry into the Turkish market. …

Egypt is returning to its largest gas import deal this year after largely ceasing fuel imports since 2018, coinciding with the discovery of the Zohr Gas Field, in an attempt to alleviate pressure on its electricity and gas networks….

London draws close to 20 million visitors annually, ranking it among the globe's most frequented tourist hotspots, where a wealth of historical significance meets a vibrant contemporary culture….

People who use drugs like Ozempic or Wegovy may experience bone density loss, according to a study published Tuesday in the journal JAMA Network, amid concerns the increasingly popular weight loss medications fail to preserve muscle….

Discover the villas inspired by the renowned villas in the Maldives, offering an opportunity to enjoy tranquility, relaxation, and the beauty of the sea. …

Urban gardening is the practice of growing plants and food crops in urban environments like cities and suburbs….

Tesla and Ford issued their latest recalls on Tuesday, affecting thousands of Cybertruck pickups and more than 550,000 F-150 trucks in the U.S., as the automakers have recalled a combined 6 million vehicles so far this year….

Oil prices fell nearly 1% on Tuesday despite expectations of a boost in demand due to the summer driving season as markets await key US inflation data due Friday amid concerns about the Fed's cautious rate cut policy, which could limit fuel consumption growth….

US private equity firm KKR will invest $428 million (€400 million) in the new joint venture with Spanish renewable energy developer Ignis, for the development and construction of primarily green hydrogen and ammonia projects….

Microsoft is facing a substantial antitrust fine following allegations from the European Commission that it has been unfairly bundling its Teams chat and video app with its Office suite, two decades after its last major European Union (EU) fine….

A high-ranking member of the Federal Reserve’s policy-setting committee does not expect interest rates to come down in 2024, another wrench in the market’s broad hopes for stimulatory rate cuts in the near future, particularly dousing optimism among the Biden Administration for a cut ahead of November’s presidential election….

Egypt's state-owned Abu Qir Fertilizers Company has halted operations at its three plants for the second time this June due to a suspension in natural gas supplies….

The sentiment towards generative artificial intelligence (GenAI) in the UAE is overwhelmingly positive and surpasses the levels seen in the so-called mature markets, according to a recent study by the Boston Consulting Group (BCG)….

ADNOC’s TA’ZIZ, Japanese trading house Mitsui & Co, and their partners have agreed to commence the construction of their planned low-carbon ammonia production facility in the UAE….

China’s Chang’e-6 probe returned to Earth on Tuesday carrying the first ever samples from the moon’s unexplored far side, a historic feat for Beijing and boon for the country’s lofty space ambitions as it races against the U.S. to gain a foothold in the expanding frontier….

Boursa Kuwait has halted trading of Kuwait Finance House shares, as the lender is reportedly planning to acquire a significant stake in Saudi Investment Bank….

The home serves as more than just a dwelling for families; it is where memories are forged and bonds strengthened….

It’s the textiles and their textures that make the Georges Hobeika Fall 2024 collection. The rich use of treated fabric evokes nature, with flower petals and morning dew poignant in the use of textile sartorial storytelling. …

Billionaire Gautam Adani-controlled Adani Group is reportedly planning to invest $15.6 billion (₹1.3 trillion) in the 2024-25 fiscal year ending March….

ADNOC Drilling's shareholders can expect annual per-share dividend increases of at least 10% over the next five years….

ESR Group, Asia’s largest real estate fund manager by asset under management, announced Monday that China’s securities regulator approved the proposed listing of its China REIT in the country….

Egypt-based fintech company Connect Money has raised $8 million in a seed funding round co-led by venture capital firms Disruptech Ventures, Algebra Ventures, and Lorax Capital Partners….

Financial Inclusion that Can Transform Lives. As the Founder & Chief Officer of Zindigi, Noman Azhar is transforming the banking landscape and empowering Pakistani society to attain financial independence. …

WikiLeaks founder Julian Assange will plead guilty under an agreement that allows him to walk free and avoid a prison sentence in the U.S….

Saudi-based Arabian Mills for Food Products Company plans to sell 30% of its stake in an initial public offering (IPO) on the local bourse. …

European plane maker Airbus has reduced its earnings forecasts and aircraft-delivery targets for 2024 as supply chain issues continue to bite and announced new charges totaling around $966 million….

The three largest record labels, UMG, Sony, and Warner, are suing two artificial intelligence music companies, alleging the firms committed “mass infringement of copyrighted sound recordings” by using artists’ songs to train their AI services—marking the latest faceoff between the entertainment and AI industries….

Novo Nordisk will invest $4.1 billion to develop a new manufacturing facility in the U.S., which will be used to boost production for the company’s weight loss and diabetes drugs Wegovy and Ozempic, the Danish firm said Monday….

Saudi Arabia’s Ministry of Energy has launched Monday an unprecedented renewable energy geographic survey, with contracts for the project awarded to companies in the kingdom to install 1,200 stations for measuring solar and wind energy across the country….

Qatari Diar, a wholly owned subsidiary of the Qatar Investment Authority (QIA), has signed a deal with Egypt’s Organi Group to help deliver three real estate projects in the North African country….

The board of Dubai contractor Drake & Scull, which worked on the Louvre Abu Dhabi project, had resigned along with its board secretary almost a month after the company’s return to the trading floor of the Dubai Financial Market (DFM)….

Lithium is hugely important to electrifying the world’s vehicles, with just one car’s battery requiring more than 17 pounds of it. But extracting and processing the critical mineral is both costly and tough on the environment – and the United States largely relies on China for its supply….

Former President Donald Trump’s net worth increased by nearly $900 million on Monday as shares of Trump Media surged in intraday trading to put it on track for its largest single-day gain since going public in March….

An Egyptian-Italian archaeological mission uncovered earlier this month a group of 33 Graeco-Roman family tombs in Egypt's southern city of Aswan, a discovery that could reveal new information on ancient diseases spreading during that time….

Nvidia stock’s historic rally was doused further, as shares of the artificial intelligence technology dominator are mired in one of their worst stretches in years, cutting into their still impressive gains….

Kuala Lampur-based diversified holding firm VCI Global has signed an agreement to invest up to $30 million in TalkingData Group Holding, one of Asia’s largest providers of big data analytics and AI solutions….

Dubai approved an integrated project to develop the rain drainage network in the emirate for $8.16 billion (AED 30 billion)….

Bitcoin plunged to its lowest price since May 13, extending the midyear selloff cutting into the leading cryptocurrency’s strong returns following January’s landmark approval of spot bitcoin exchange-traded funds….

The European Union (EU) is set to sign an agreement with Egypt to provide $1.1 billion (EUR 1 billion) as urgent short-term macro-financial assistance to help stabilize its deteriorating economy. …

Online fashion giant Shein confidentially filed papers with the UK authorities earlier this month for a potential listing in London, according to reports, as the retailer moves ahead with what could be one of the largest initial public offerings (IPOs) this year….

Lunate Capital is set to launch the Chimera JPMorgan Global Sukuk Exchange-Traded Fund (ETF) on the Abu Dhabi Securities Exchange (ADX) on July 8….

Abu Dhabi National Oil Company (ADNOC) has started negotiations to acquire chemical maker Covestro for approximately $12.8 billion (€12 billion)….

The European Union's (EU) antitrust regulators on Monday found Apple to be in breach of the bloc's Digital Markets Act (DMA) as it prevented app developers from freely directing customers to alternative avenues for offers and content….

Sur province of Oman has been named the Arab Tourism Capital for 2024 by the Arab Tourism Organization….

Saudi Arabia's non-oil exports, including re-exports, leaped 12.4% year-on-year in April to $5.9 billion (SAR 22 billion)….

At least 16 people died on Monday and 6 others remained unaccounted for after a fire broke out at a lithium battery factory in Hwaseong, South Korea….

UAE-based Sharjah Islamic Bank (SIB) plans to offer a benchmark-sized US dollar-denominated five-year Sukuk, a bourse filing showed on Monday. …

Saudi-listed National Medical Care Company (Care) has agreed to acquire Riyadh-based Al Salam Health Medical Hospital from Saudi Medical Care Group for $11.7 million (SAR 44 million)….

China attracted capital investments worth $2.3 billion from sovereign wealth funds (SWFs) based in the Middle East in 2023….

The World Bank announced $700 million in support for Egypt as part of a 3-year, $6 billion program aimed at boosting economic growth….

Mumbai-based quick commerce company Zepto plans to double its warehouses—known as dark stores—across India to 700 stores by March 2025 after achieving a valuation of $3.6 billion from its latest fund raising announced on Friday. This is about 2.6 times the valuation it had in its previous financing round….

Oil prices declined in early Asian trading on Monday, marking a second consecutive session of losses….

“Inside Out 2,” which last weekend had the year’s best opening, continued to shatter records in its second weekend by reportedly grossing another $100 million, the best-ever second weekend performance for an animated film, which cemented its place as the top-grossing film of the year just 10 days after its release….

China has urged the European Union (EU) to cancel planned tariffs on its electric vehicles (EVs) before the July 4 deadline, Beijing's state-run Global Times reported Sunday, as trade talks between both sides get back on track. …

Ooredoo Group announced that it will become an NVIDIA Cloud Partner (NCP) to help enable the AI revolution in the region….

Facebook parent Meta has discussed integrating its generative AI model into Apple's recently announced AI system for iPhones….

Cocoa prices are still three times higher than last year due to a supply crisis that has persisted for the third year in a row, despite recently falling from a historic peak of more than $11,000 per ton in New York….

GenAI is transforming workplaces by streamlining processes. However, its impact goes beyond efficiency or profits; it’s reshaping the very essence of how we work….

The deal values the parent company for the NBA’s Nets and WNBA’s New York Liberty at roughly 14 times revenue, an extremely rich multiple for a non-control stake….

Venture capital firm The Engine Ventures aims to bolster investment in advanced technologies aimed at solving climate change, improving AI and solving health problems….

Germany's Economy Minister Robert Habeck reportedly said Saturday during a visit to China that the proposed European Union (EU) tariffs on Chinese exports are not a punishment….

China and France launched a satellite on Saturday to capture gamma-ray bursts that traveled billions of light years to reach Earth, according to government news agency Xinhua….

NASA said Friday that it will further delay the Boeing Starliner's return to Earth from the International Space Station (ISS) to allow more time to review technical issues….

The rankings and net worth of the world's 10 richest people have witnessed massive changes since Forbes created its World’s Billionaires list 2024 more than three months ago. The combined net worth of the 10 richest increased by $98.2 billion, hitting $1.644 trillion as of June 21, 2024, before the US market opens. Here are the top gainers and losers among the world's 10 richest in three months….

Wyc Grousbeck bought the Boston Celtics for $360 million in 2002 and just delivered the franchise’s second championship during his tenure—a league-record 18th title….

Shares in Sinolong New Materials soared on their trading debut at the Shenzhen Stock Exchange Thursday, minting mainland China’s latest billionaire….

Crude oil prices settled lower Friday on concerns that a strong US dollar could impact global oil demand growth, while markets remain cautious as the US Federal Reserve continues to maintain its stance of cutting interest rates just once this year….

Popular Spanish holiday destination Barcelona is seeking to ban apartment rentals to visiting tourists by 2028 in a bid to tame rising housing costs for residents….

China said Friday that its government and the European Union (EU) need to have proper dialogue and consultation in accordance with the World Trade Organization (WTO) rules to avoid an escalation of the trade friction….

Boeing is expected to avoid criminal prosecution after the Justice Department recently found it violated a $2.5 billion settlement shielding it from charges over two 737 Max 8 model crashes in 2018 and 2019 that killed a total of 346 people….

Amazon is reportedly considering charging customers up to $10 a month for a revamped, AI-enabled version of its currently free voice assistant Alexa, suggesting a major overhaul for the money-losing service is on the horizon as the retail giant fights to remain competitive in the generative AI race….

Shares for Zealand Pharma rose by over 17%, after the Danish biotech firm announced positive trial results for petrelintide, a new weight loss drug the company said could compete against Novo Nordisk’s Ozempic and Eli Lilly’s Mounjaro….

Home prices hit an all-time high in May, as the median home price across the nation jumped 5.8% from the year prior as sales dropped by 2.8%, the National Association of Realtors said Friday….

Huawei’s Harmony operating system is now running on over 900 million devices, continuing the company's campaign to reduce its reliance on foreign technology and challenge the dominance of Western mobile operating systems….

Morocco’s consumer price index (CPI) rose by 0.4% in May on an annual basis, driven by increases in the non-food products index, which offset the fall in the food products index, official data showed….

The past three years have been tough for PayPal, one of Silicon Valley’s oldest and largest fintech companies, a storied business that counts Elon Musk, Max Levchin, Peter Thiel and Reid Hoffman among its founders and early employees. …

Eurozone economic recovery slowed sharply in June, according to provisional PMI survey data, as demand weakened for the first time since February. …

Masayoshi Son, CEO of Japanese investment holding company SoftBank Group Corp, announced on Friday that the conglomerate plans to contribute to humanity's pursuit of artificial super intelligence….

Lionel Messi has reportedly become the most-capped player in the history of South America's Copa America football tournament, making his 35th appearance for Argentina….

DP World has completed an expansion project at the Port of Callao in Peru, increasing its South Terminal container handling capacity by 80% with a capital expenditure of $400 million….

Former President Donald Trump’s lawyers are pushing the judge who oversaw Trump’s civil fraud trial to recuse himself, claiming he improperly discussed the case with a lawyer before ordering Trump to pay over $450 million, the Trump team’s latest broadside against a judge—though the New York court system previously denied wrongdoing….

Japan has reportedly imposed trade curbs on Chinese companies under a new series of sanctions against individuals and entities supporting Russia in its war against Ukraine….

Abu Dhabi-based International Holding Company (IHC) is advancing a plan to repurchase up to $1.4 billion (AED 5 billion) of its shares to enhance shareholder value….

Scorching weather resulted in more than 125 heat-related deaths in Mexico since March, with thousands of cases of heat stroke, and electricity cuts due to power overload reported in the rest of North and Central America, stated a report published by World Weather Attribution Thursday….

Several medical spas and wellness centers are facing potential lawsuits from drugmaker Eli Lilly for allegedly selling compounded and counterfeit versions of ultra-popular weight loss and diabetes drugs Mounjaro and Zepbound, a problem also raised by Ozempic maker Novo Nordisk—and health organizations warn these products may pose serious side effects like infections….

Nvidia stock suffered a rare tumble Thursday, relinquishing the artificial intelligence motor’s briefly held title as the most valuable public company on the planet and exhibiting broader stock indexes’ sensitivity to price movements from Nvidia….

Former President Donald Trump’s net worth dropped about $475 million on Thursday as shares of Trump Media continue to slide, which has decreased the value of his stake in the social media company by more than $2 billion this month….

With the arrival of summer and the rise in temperatures, people head to the beaches to enjoy the sea and sun while taking a break from their daily routines….

Authorities in Kuwait warned of more power cuts in some parts of the country during the peak consumption period as intolerable heat drives increasing demand, highlighting consumers’ struggle with extreme weather….

In Saudi Arabia, breathtaking landscapes, meticulously preserved environments, and wildlife come together with stunning natural scenery that spans from towering mountains to expansive deserts and pristine beaches….

Shares of the newly minted most valuable company in the world, Nvidia, rallied yet again Thursday, as predictions run wild of just how high the exponential growth stock, which has accounted for a major chunk of the record-setting stock market milestones, can go….