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Lebanon’s credit rating has been withdrawn by Fitch Ratings due to the unavailability of crucial data. The global credit rating agency affirmed Lebanon’s long-term foreign and local-currency issuer default ratings as restricted before removing the nation’s IDR and country ceiling. This step marks a significant development in Lebanon’s ongoing financial crisis, signaling deep concerns about the country’s economic stability. Fitch’s decision to withdraw the ratings stems from […]

Modi Govt’s First Budget In Third Term Is Macro-Economically SoundModi Govt’s First Budget In Third Term Is Macro-Economically SoundBy Anjan Roy Nirmala Sitharaman’s budget presented to Parliament on July 23 is a deeply political statement post the polls, containing though sound economic logic as well. As it is by now amply clear to the public, the Union finance minister, has laid out a development budget for Bihar and partly for Andhra Pradesh, while […]

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 […]

Saudi Arabian Military Industries (SAMI) is set to significantly enhance its capabilities in aerospace and defense through a new agreement that positions the firm as an authorized center for the C-130 Hercules aircraft and Airbus rotorcraft platforms. This expansion marks a pivotal development in SAMI’s growth and its commitment to strengthening the Kingdom’s defense and aerospace sectors. The agreement, aimed at broadening SAMI’s maintenance, repair, and overhaul […]

HONG KONG SAR – Media OutReach Newswire – 23 July 2024 – The countdown begins for the highly anticipated International Asia Veterinary Conference & Exhibition (IAVC) 2024, set to take place on 13-15 August 2024 at Hall 2, Asia World Expo in Hong Kong. With just around 3 weeks to go, veterinary professionals from around the world are preparing to convene for this prestigious event, which promises […]

Google’s highly anticipated plan to eliminate tracking cookies in Chrome has been unexpectedly abandoned. The decision follows prolonged discussions with regulators over a balanced approach that would address both Google’s interests and those of the broader marketing industry. Google’s initial announcement of its plan to phase out third-party cookies aimed to enhance user privacy while allowing advertisers to deliver targeted content. This initiative was part of the […]

‘Think Big – The Power of Future’, Canon’s first event in the series to be held outside of Singapore, showcases cutting-edge AI technologies to revolutionise the modern workplace and various key industries HONG KONG SAR – Media OutReach Newswire – 23 July 2024 – Canon today announced the launch of the first ‘Think Big’ Event Series in Hong Kong. Set to educate business leaders on innovative industry […]

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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 […]

Saudi Arabia has announced the initiation of a major global competition to celebrate Arabic fiction. The Golden Pen Award for Novels is now open for submissions, inviting authors worldwide to submit their original works in Arabic. The prestigious award offers a substantial monetary prize of $100,000 for each winner, aiming to highlight and promote the rich literary tradition of the Arabic language on an international stage. The […]

Investment Market Driven by SOEs and Private Investors, Logistics Sector to Remain the Focus The central government’s introduction of the supportive “517” policy in May 2024 prompted Greater Bay Area (GBA) cities to implement a range of relaxation measures, in turn spurring housing market activity, with primary market home sales rebounding in June Total investment volume in the GBA commercial real estate (CRE) market reached RMB11.9 billion […]

Nirmala Sitharaman’s Coalition Versus Federal, Political Versus Economic BudgetNirmala Sitharaman’s Coalition Versus Federal, Political Versus Economic BudgetBy K Raveendran Finance Minister Nirmala Sitharaman stepped up to her budget rostrum in the Lok Sabha with a resolute demeanour, a symbolic gesture marking the unveiling of what many had anticipated as a transformative federal budget for the fiscal year 2024-25. Yet, what unfolded before the nation on July 23 was not a conventional […]

SHANGHAI, CHINA – Media OutReach Newswire – 23 July 2024 – On July 6, the inaugural “Shanghai Summer” International Consumption Season officially kicked off, welcoming global travelers to enjoy a spectacular summer at the Bund. Shanghai is a key gateway for international travelers, with 2.035 million foreign visitors entering through its ports from January to June this year, about 2.8 times more than the same period last […]

Empowering low-income communities in Malaysia through computer literacy KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 23 July 2024 – Henkel Malaysia, in collaboration with Project Hope Welfare Association, successfully concluded a 10-week computer literacy programme for children aged between 10 to 17 from low-income and Myanmar refugee families. As part of Henkel Malaysia’s “Make an Impact on Tomorrow” initiative, the programme aims to bridge the digital […]

Through the collaboration with EBANX, XTransfer offers the preferred local payment methods from Latin America to businesses worldwide exporting to the region. Cash-based vouchers, electronic transfers, and Pix, the instant payments in Brazil, are among the options SHANGHAI, CHINA & CURITIBA, BRAZIL – Media OutReach Newswire – 23 July 2024 – XTransfer, China’s top B2B cross-border trade payment platform, and EBANX, the leading payment platform connecting global […]

King Fahd Medical City (KFMC) and Boston Oncology have announced a significant partnership aimed at advancing gene and target cell therapy in Saudi Arabia. This collaboration, formalized through a Memorandum of Understanding (MoU), seeks to enhance local capabilities in cutting-edge cancer treatments and reduce dependency on international medical technologies. The project will be anchored at King Fahd Medical City, one of the leading healthcare institutions in Saudi […]

HONG KONG SAR – Media OutReach Newswire – 23 July 2024 – IX Asia Index (“IXAI”), the index business arm of IX Capital International Limited, is thrilled to announce the launch of a centralised IXAI index page composed of a comprehensive suite of 10 unique indexes, available on Bloomberg starting today. The IXAI Bloomberg page can be accessed via the function “IXCI <GO>”. This launch significantly enhances […]

Arabian Post Staff -Dubai Emirates President Tim Clark has expressed concerns about the delivery timeline of Boeing’s 777X aircraft, projecting a delay until 2026. This adjustment stems from continuous development challenges and regulatory hurdles faced by Boeing. Clark’s statement, made during a media interaction, highlights the ongoing issues that have plagued the much-anticipated aircraft model. Clark revealed that Boeing’s progress on the 777X has been slower than […]

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 […]

New paper ‘Beyond Payments’ identifies four key developments in cross-border commerce that deliver opportunities for merchants to create a frictionless and extended consumer journey HONG KONG SAR – Media OutReach Newswire – 23 July 2024 – Throughout the past decade, the rapid proliferation of mobile payment solutions has been a key enabler for digital economies across Asia and beyond. Building on our 2020 report, ‘The Next Wave: […]

The Saudi Esports Federation (SEF) has inaugurated a Legacy Museum in Riyadh, celebrating the federation’s achievements and the Kingdom of Saudi Arabia’s significant impact on the global gaming and esports industry. The museum, open seven days a week with free admission, aims to document the federation’s work since its inception and honor the progress made in this rapidly growing sector. HRH Prince Faisal bin Bandar bin Sultan, […]

Economic Survey 2023-24 Cautions On India’s Growth StoryEconomic Survey 2023-24 Cautions On India’s Growth StoryBy Dr. Gyan Pathak Economic Survey 2023-24 does present a rosy picture of India’s growth story and recognizes the short-term prospect as good, but does not fail to flag several areas of concern that require clear forward-look vision for better prospect in the long term. It underscored the pressing needs for comprehensive reform in agriculture. […]

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 […]

India’s decision to ease its rice export restrictions is set to benefit the Gulf Cooperation Council (GCC) countries significantly. With rice stocks at state warehouses surging to record levels, the Indian government aims to cut the floor price for basmati rice exports and replace the 20% export tax on parboiled rice with a fixed duty. This strategic move is driven by an unprecedented increase in rice inventories, […]

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 […]

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