In a move that reflects the changing landscape of Las Vegas gaming, Caesars Palace announced the temporary closure of its poker room to make way for an expanded high-limit slots area. The iconic casino, part of Caesars Entertainment, will relocate its 18-table poker room for an estimated 60-90 day period beginning around July 17th. This decision comes amidst ongoing renovations at the property. While the poker room […]
While Singapore (1st, unchanged) and Hong Kong (2nd, up from 3rd) still dominate the podium, the Asia Pacific (APAC) region is now ranked 2nd place for the first time, due to lower rankings for cities like Tokyo, and a very strong return to prominence for Europe, Middle East and Africa (EMEA). SINGAPORE / HONG KONG SAR – Media OutReach Newswire – 25 June 2024 – According to […]
By Saifur Rahman Bangladesh’s economy faces multiple challenges, said the International Monetary Fund in its latest report. Bangladesh’s economy is suffering from liquidity shortage and high inflationary pressure as its currency lost value by 38.23 percent from BTk85 per US dollar in March 2022 to BTk117.5 per dollar in June 2024. “Stubbornly high international commodity prices and continued global financial tightening have amplified macroeconomic vulnerabilities. Although the […]
Fueled by ambitious government plans, Saudi Arabia’s construction sector is poised for a significant surge, with its output value projected to reach $181. 5 billion by the end of 2028. This represents a substantial increase of 28% over a five-year period, according to a recent analysis by global property consultancy Knight Frank. The growth is attributed to a multi-pronged approach by the Saudi government, with significant investments […]
Saudi Arabia’s trade surplus reached an impressive $11 billion in April, marking the highest point of 2024 so far. This surge is attributed to a significant increase in non-oil exports, indicating a potential diversification of the kingdom’s traditionally oil-reliant economy. The news comes as a welcome sign for Saudi Arabia’s Vision 2030, an ambitious plan to reduce dependence on hydrocarbon exports and foster economic growth in other […]
The Only Chinese Payment Company in the Unicorn Community HONG KONG SAR – Media OutReach Newswire – 24 June 2024 – XTransfer, the World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, is pleased to announce its participation in the “15th Annual Meeting of the New Champions” (Summer Davos) of the World Economic Forum, which will be held from June 25 to 27 in Dalian, China. […]
Oil prices took a tumble this week, with futures contracts for both Brent crude and West Texas Intermediate (WTI) experiencing a decline. This drop comes amidst growing anxieties about the global economic climate, with factors like potential interest rate hikes and inflation dampening investor enthusiasm for the commodity. The prospect of the US Federal Reserve raising interest rates to combat inflation has many investors concerned. Higher interest […]
While overall foreign direct investment (FDI) into Africa dipped slightly in 2023, a surge in clean energy projects is painting a brighter picture for the continent’s sustainable future, according to the latest World Investment Report by the United Nations Conference on Trade and Development (UNCTAD). The report highlights a 3% decline in FDI inflows to Africa, reaching $53 billion in 2023. This decrease is primarily attributed to […]
Toilet rolls, detergents and toiletries are all fine in their original packaging, survey says – but some personal care and high value items should be covered. 80% of those surveyed want to shop with retailers that reduce packaging materials. Since 2021, Amazon has increased the number of non-grocery orders sent without added delivery packaging from our Fulfilment Centre to Singapore customers by 80 %. SINGAPORE – Media […]
The United Arab Emirates’ renewable energy champion, Masdar, announced a significant move into the European market on June 20th, 2024, with a definitive agreement to acquire a controlling stake in Greece’s Terna Energy. The deal, valued at €3. 2 billion ($3. 4 billion), positions Masdar to become a major player in the European renewable energy sector and propel Greece’s clean energy ambitions. Under the terms of the […]
Kuwait is bracing for more disruptions to its electricity grid as the searing summer temperatures push the nation’s power capacity to its limits. The Ministry of Electricity, Water and Renewable Energy announced the implementation of extended power cuts across various regions to combat the rising demand for electricity during peak hours. These scheduled blackouts, lasting up to two hours, are a stark reminder of the challenges Kuwait […]
British oilfield services and engineering company John Wood Group Plc is setting its sights on expanding its presence in the Middle East, even as it negotiates a potential takeover by Dubai-based engineering and consulting firm Sidara. This move comes amid growing demand for energy transition solutions in the region. Wood Group revealed plans to establish an energy transition hub in Abu Dhabi by August 2024. Gerry Traynor, […]
London-listed Energean plc has struck a deal to sell its exploration and production assets in Egypt, Italy, and Croatia to private equity giant Carlyle Group for an enterprise value of up to $945 million. The transaction, announced on June 20, 2024, marks a strategic shift for Energean, allowing it to focus on its core gas development projects in Israel and Morocco. The divestment encompasses a portfolio with […]
The Middle East and North Africa (MENA) region stands on the precipice of a clean energy revolution. A recent report by the Global Wind Energy Council (GWEC) reveals a staggering potential:a whopping 1, 400 gigawatts (GW) of harnassable offshore wind power. This untapped resource dwarfs current energy production in the region and could significantly alter its energy landscape. While the report acknowledges the nascent stage of offshore […]
Dubai Future Foundation (DFF) and Meta have unveiled a collaborative effort to launch a novel business incubator program. This initiative aims to harness the potential of large language models (LLMs) to revolutionize product and service innovation across various industries. The program leverages Meta’s open-source AI model, LLAMA 3, to empower entrepreneurs to develop impactful AI use cases. These use cases will address real-world challenges, promote economic growth, […]
In a move designed to bolster efficiency within the electric vehicle (EV) battery production sector, Schneider Electric and AVEVA, industry leaders in energy management and industrial software respectively, have announced a collaborative effort with IN-CORE Systèmes. This tripartite alliance aims to revolutionize EV battery manufacturing by establishing a more comprehensive data-driven approach. The exponential growth of the EV market has intensified the demand for improved battery production. […]
The Abu Dhabi Future Energy Company (Masdar), a leading force in the United Arab Emirates’ clean energy sector, announced a significant acquisition on June 20, 2024. Masdar has struck a definitive agreement with GEK TERNA SA and other shareholders of TERNA ENERGY SA, a prominent Greek renewable energy company. The deal signifies Masdar’s ambitious plans to solidify its presence in the European renewables market. The agreement entails […]
The arrival of summer in the Northern Hemisphere has coincided with a brutal heatwave, leaving millions sweltering under record-breaking temperatures. This scorching start to the season has raised concerns that climate change is fueling more intense and frequent heatwaves, with potentially devastating consequences. From Asia to Europe, cities are grappling with extreme heat. In India, temperatures have soared past 45 degrees Celsius (113 degrees Fahrenheit) in some […]
HONG KONG SAR – Media OutReach Newswire – 20 June 2024 – Today, KGI Asia has released its 2024 Mid-Year Global Market Outlook, which covers regions including Mainland China, Hong Kong, Taiwan, the US, Singapore, and Indonesia. (From left to right) Kenny Wen, Head of Investment Strategy at KGI Asia, and James Chu, Chairman at KGI Investment Advisory While the world is fighting against inflation, the economic […]
Ground freight and logistics company FTAI Infrastructure announced on Thursday that its subsidiary, Jefferson Energy, signed a multi-year agreement with Aramco Trading Americas, the energy trading arm of Saudi Aramco. This agreement will significantly increase the crude oil supply reaching Jefferson Energy’s Main Terminal located in Beaumont, Texas. The deal involves incorporating bi-directional flow capability into Jefferson Energy’s Southern Star Pipeline. Currently, this pipeline transports crude oil […]
A recent report by the World Economic Forum (WEF) positions Saudi Arabia as a frontrunner in the Gulf Cooperation Council’s (GCC) transition towards a clean energy future. The “Fostering Effective Energy Transition 2024” evaluated 120 countries based on their energy systems’ performance across four key dimensions:environmental sustainability, energy security, equity, and transition readiness. Saudi Arabia secured the 58th position globally, boasting an Energy Transition Index (ETI) score […]
A recent industry report revealed a troubling trend:global dependence on fossil fuels reached an all-time high in 2023, despite significant growth in renewable energy sources. The report, titled “Statistical Review of World Energy, ” found that fossil fuel consumption climbed 1. 5% compared to 2022, pushing emissions to record levels as well. This rise comes even as renewable energy generation reached new heights, accounting for nearly 15% […]
In a sobering reminder of the challenges facing the fight against climate change, a new report revealed that global reliance on fossil fuels reached record highs in 2023. The report, titled the Statistical Review of World Energy, found that fossil fuel consumption climbed 1. 5% compared to 2022, pushing emissions to unprecedented levels. This rise comes despite a significant increase in renewable energy generation, highlighting the ongoing […]
