RIYADH: Oman’s top five ports saw a 1.5 percent annual increase in cargo handling in 2023, surpassing 93.2 million tonnes, underscoring their growing significance in maritime trade. The terminals of Sultan Qaboos, Salalah Sohar and Khasab as well as Shinas, and A’Suwaiq handled approximately 91.8 million tonnes of general, liquid, and bulk cargo in 2022, … Read more
GCC telecommunication firms reinventing themselves as ‘techcos’: S&P Global RIYADH: Telecommunication companies in the Gulf Cooperation Council region are redefining themselves as technology firms to diversify their revenue streams, S&P Global said. In its latest report, the credit rating agency noted that moderate growth prospects for core telecom operations are one of the key drivers … Read more
RIYADH: Saudi Arabia’s international technology conference, LEAP, sets the stage for a thriving startup and venture capital ecosystem in the region, announcing seven new funds worth $848 million. Following in the footsteps of its previous years, the third edition of the event continues to witness several significant announcements that seek to transform the technology sector … Read more
BRUSSELS: Humanitarian aid groups have appealed to the EU to release tens of millions of euros in funding due to the main UN agency that delivers most aid to people in the Gaza Strip as the organization teeters on the brink of financial collapse. The European Commission, the EU’s executive branch, was due to disburse … Read more
Day 4 at ICJ hearing: Jordan says Israeli occupation ‘unlawful, inhumane and must end’ The International Court of Justice, the UN’s top court, on Thursday continued its hearing from dozens of states and three international organizations who question the legality of the Israeli occupation of Palestinian territories. Representatives from countries including China, Iran, Iraq, Japan, … Read more
OSLO: Norway has agreed to help facilitate the transfer of frozen tax funds earmarked for the Palestinian Authority (PA) that were collected by Israel, the Norwegian government said on Sunday, providing vital funding to the Western-backed entity. Under interim peace accords reached in the 1990s, Israel’s finance ministry collects tax on behalf of the Palestinians … Read more
CAIRO: Venture capitals focused on the Middle East and North Africa region have successfully refueled their tanks with multiple firms attracting new investments. Female-led Lebanon-based Globivest announced its first closing for an undisclosed sum in its venture capital firm. Reaching two-thirds of its target of $25 million to $30 million, the investment marks a significant milestone … Read more
RIYADH: Saudi family businesses, pivotal in driving the Kingdom’s economy with around 95 percent ownership, are set to secure additional funding and governance support through newly-inked agreements. The deals will facilitate increased collaboration between the family business community, the Public Investment Fund, and the Center for Governance, allowing for enhanced support and growth opportunities. In an interview … Read more
WASHINGTON: The White House Medical Unit during the Trump administration provided prescription drugs, including controlled substances, to ineligible staff and spent tens of thousands of dollars more on brand-name drugs than what generic equivalents would have cost, a Pentagon report shows. The unit, part of the White House Military Office, did not comply with federal … Read more
RIYADH: Saudi Arabia’s Advanced Air Mobility initiative is poised to revolutionize the Middle East’s aviation sector, establishing the Kingdom as a leader in sustainable technologies. Spearheaded by the General Authority of Civil Aviation, it encompasses a range of solutions, from unmanned aircraft systems to vertical take-off and landing aircraft. These advancements prioritize safety, reliability, and … Read more