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NIA Unveils ‘Groom – Grant – Growth – Global’ Strategy to Drive Thailand Towards Becoming an Innovation Nation, Showcasing One Year of Success as the ‘Innovation Focal Conductor’

NIA to strengthen innovation in Thailand with new financial mechanisms, promoting the export of Thai innovative products to international markets and leverage digital technologies in five dimensions to enhance organizational operations BANGKOK, THAILAND – Media OutReach Newswire – 23 July 2024 – The National Innovation Agency (Public Organization) or NIA has unveiled its strategy for driving Thailand towards being an innovation nation, “NIA Focal Conductor: Leading Thailand […]

Union Budget 2024-25 Makes Clever Move For Next Generation Reforms

By Dr. Gyan Pathak Taking lessons from the outcome of Lok Sabha Election 2024, Prime Minister Narendra Modi led government has made a clever move for the next generation of economic reforms in the Union Budget 2024-25, which forms the core of the budget though mentioned as the last of the nine priority areas it […]

DHL Express and UOB partner to reduce carbon footprint of UOB’s international shipments via sustainable aviation fuel

Partnership under DHL’s GoGreen Plus service will support UOB’s sustainability commitments in carbon neutrality SINGAPORE – Media OutReach Newswire – 23 July 2024 – DHL Express, the world’s leading international express service provider, and UOB, a leading bank in ASEAN, entered a strategic agreement under DHL’s GoGreen Plus service to co-invest in sustainable aviation fuel (SAF) for UOB’s international parcel deliveries. Through this program, UOB foresees an […]

Oil Prices Stabilize Amid Biden’s Presidential Departure

Oil prices remained steady as traders and analysts assess the implications of President Joe Biden’s decision to exit the 2024 presidential race. Following Biden’s announcement, which has altered the political landscape, market participants are closely monitoring the impact on U.S. energy policies and global oil markets. The decision by Biden to step back has prompted significant speculation about the future of U.S. energy policy, particularly regarding climate […]

Saudi PIF Leads Global State-Owned Investors

Saudi Arabia’s Public Investment Fund (PIF) has emerged as the world’s second most influential state-owned investor, according to a 2024 report by Global SWF. This marks a significant milestone for the fund, which has consistently expanded its influence and diversified its portfolio over the years. The PIF, chaired by Crown Prince Mohammed bin Salman, is now managing assets worth approximately SR3.47 trillion, with a substantial portion, SR1.75 […]

Saudi Aramco Plans $2.2B Gas Project JV

Saudi Aramco has signed a letter of intent (LoI) with a Spanish-Chinese joint venture to develop a $2.2 billion gas compression project. The partnership, which includes Técnicas Reunidas and Shandong Electric Power Construction Corporation (SEPCO), aims to enhance Saudi Arabia’s natural gas production capabilities. The project will be executed at the Haradh and Hawiyah gas fields, pivotal components of the country’s vast gas reserves. Aramco’s move aligns […]

Why High Net Worth Individuals Are Flocking to Alternative Assets

High net worth individuals (HNWIs) are increasingly gravitating towards alternative assets. This trend is more than a passing phase; it’s a seismic shift driven by a confluence of factors ranging from market volatility to the pursuit of superior returns. As the global financial environment becomes more complex and uncertain, alternative assets are providing HNWIs with the diversification, resilience, and growth opportunities that traditional investments struggle to match. […]

Octa’s analysts predict possible market volatility with launch of Ether ETFs

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 22 July 2024 – The U.S. SEC has given preliminary approval to at least three of the eight asset managers planning to launch Ether ETFs, allowing them to start trading on 23 July. This approval depends on the submission of final offering documents. According to Bitwise CIO Matt Hougan, Ether ETFs could have a more significant impact on Ether’s […]

Saudi Arabia Boosts US Treasury Holdings to $136 Billion

Saudi Arabia’s investment in US Treasury bonds has surged to $136.3 billion as of May, reflecting a significant year-on-year increase of 22.46% from $111.3 billion in the same month of 2023. This rise places the Kingdom as the 17th largest holder of US government debt, according to recent data from the US Treasury Department. The increase is notable against a backdrop of fluctuating bond values over the […]

Saudi Minister’s Visit to Brazil and Chile Aims to Boost Mining and Lithium Production

Bandar Alkhorayaf, Saudi Arabia’s Minister of Mining and Industry, is set to embark on a significant diplomatic tour this week, visiting Brazil and Chile to bolster the Kingdom’s industrial and resource capabilities. This visit underscores Saudi Arabia’s strategic initiative to enhance its mining sector and expand its footprint in the global market for critical resources. During his trip to Brazil, Alkhorayaf will engage with high-ranking officials to […]

Kuwait Oil Company Expands Focus with Renewables and Hydrogen Advisory

Kuwait Oil Company has taken a significant step in its strategic shift towards sustainability by awarding a key advisory contract focused on renewable energy and hydrogen technologies. This move reflects the company’s commitment to diversifying its energy portfolio and aligning with global trends in environmental responsibility. The advisory contract, valued at approximately $20 million, will be led by a consortium of leading energy consultancies specializing in renewables […]

Heatwave Pushes Temperatures to Extreme Highs in Dubai and Kuwait

Sweltering heat continues to grip Dubai and Kuwait, with temperatures soaring to unprecedented levels. In recent weeks, heat indices have exceeded 60°C (140°F) due to a combination of high temperatures and humidity, creating dangerous conditions for residents. Dubai has been experiencing extreme heat, with temperatures peaking at around 50°C (122°F). The intense heat is compounded by high humidity levels, which have caused the heat index to rise […]

Global Electricity Demand to Surge by 4% This Year

A significant increase in global electricity demand is projected for this year, with an anticipated rise of approximately 4%, surpassing the 2.5% growth recorded in 2023. This surge is primarily attributed to robust economic expansion, elevated heatwaves, and the accelerated adoption of electricity-dependent technologies. The International Energy Agency (IEA) has identified several key factors fueling this demand increase. Intense heatwaves across various regions have led to heightened […]

DHL Celebrates Five-Year Partnership with Teach For Cambodia

Since 2019, DHL Group’s GoTeach program has benefitted more than 270 young individuals in Cambodia PHNOM PENH, CAMBODIA, – Media OutReach Newswire – 22 July 2024 – DHL, the world’s leading logistics provider, celebrates its five-year partnership with Teach For Cambodia under DHL Group’s GoTeach program. Since 2019, DHL has positively impacted the lives of over 270 young individuals in Cambodia through employability skills enhancement, mentorship, educational […]

Reef Mall Revamp Nears Completion in Bahrain

Edamah, the real estate development arm of Bahrain Mumtalakat Holding Company, is nearing the completion of its extensive refurbishment project for Reef Mall, located in Malkiya, a suburb near Hamad Town. The redevelopment initiative is part of a broader strategy to enhance retail and leisure experiences in the region. The renovation of Reef Mall is set to transform the shopping center into a modern retail hub, featuring […]

Azerbaijan Invites Armenia to COP29 Summit

Azerbaijan’s senior official Hikmet Hajiyev announced the invitation extended to Armenia for the COP29 climate summit. This invitation marks a significant step in regional diplomacy, particularly given the history of tensions between the two nations. The move aims to foster cooperation on environmental issues, demonstrating a commitment to global climate action despite longstanding political disputes. The climate summit, set to take place later this year, will bring […]

EU Data Centers Projected to Boost Electricity Use by 30%

The International Energy Agency (IEA) has recently projected a significant increase in electricity consumption by data centers in the European Union, estimating a 30% rise above 2023 levels by 2026. This forecast underscores growing concerns about the sustainability of digital infrastructure and its impact on energy resources. Data centers, which house the vast networks of servers required to power everything from cloud computing to online streaming, have […]

Energy Industry Must Cut Emissions to Avert Climate Disaster

Arabian Post Staff The urgent call for the energy industry to reduce its carbon emissions has gained prominence as Dr. Fatih Birol, Executive Director of the International Energy Agency (IEA), warns of catastrophic climate consequences if immediate actions are not taken. This warning comes amid growing concerns over the accelerating pace of climate change and its potential to trigger severe environmental and economic disruptions. Dr. Birol emphasized […]

Modi-Putin Talks Have Imparted A New Dimension To Overall Economy Of India

By Subrata Majumder Narendra Modi’s visit to Russia on July 8 and 9, the first since Ukraine war, carries major significance. India’s shifting of oil dependence from OPEC to Russia opens a new chapter of economic relation between the two nations, after it was subdued with the breakdown of Soviet Union in 1991. Apart from […]

Haryana Set to Launch India’s First Green Coal Plants

Haryana is gearing up to inaugurate India’s pioneering green coal plants in Gurugram and Faridabad. This groundbreaking initiative, spearheaded by the central government, seeks to revolutionize waste management by converting waste materials into eco-friendly charcoal. The ambitious project aims to tackle the pressing issue of waste disposal while promoting a cleaner and more sustainable environment. The innovative green coal technology involves the process of pyrolysis, where organic […]

Masdar Raises $1bn with Second Green Bond Issuance

Masdar, the UAE’s leading clean energy company, successfully secured $1 billion through its second green bond issuance under the Green Finance Framework. This significant financial achievement highlights the company’s ongoing commitment to sustainable energy projects and its prominent role in the global transition towards renewable energy sources. The issuance, which took place a year after Masdar’s inaugural green bond, was met with strong demand from international investors, […]

IMF Welcomes Saudi Arabia’s Adjustments to Vision 2030 Projects

Saudi Arabia’s economic transformation under Vision 2030 has garnered praise from the International Monetary Fund (IMF) for its recent recalibrations. As the Kingdom approaches the midpoint of its ambitious plan, these adjustments are seen as crucial for maintaining momentum and addressing evolving challenges. Jihad Azour, the IMF Director for the Middle East and Central Asia, highlighted the strategic importance of these recalibrations. He emphasized that such revisions […]

Global Smartphone Shipments Surge 6.5% in Latest Report

According to the latest preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, global smartphone shipments experienced a notable increase of 6.5% year-over-year, reaching a total of 285.4 million units in the most recent quarter. This growth marks a significant rebound from previous periods of stagnation and reflects an ongoing recovery in the smartphone market. The data highlights a strong resurgence in demand […]

Listed AI Company iFLYTEK and Subsidiary Xunfei Healthcare to Establish International Headquarters at Cyberport

Investing HK$400 million to Build a 150-member Team and Leading AI and Medical AI Development in Hong Kong HONG KONG SAR – Media OutReach Newswire – 19 July 2024 – iFLYTEK Co., Ltd., renowned in the Asia-Pacific region and a leading listed company specialising in intelligent speech and Artificial Intelligence (AI), along with its subsidiary Xunfei Healthcare Technology Co., Ltd., is establishing an international headquarters at Cyberport […]