Author: News Desk

Oman set goals to promote economic diversification programs and maximize the in-country value (ICV) of national resources and positively impact fulfilling commitments to reduce carbon emissions. The Ministry of Energy and Minerals established a national alliance for green hydrogen (branded as Hy-Fly) to place Oman on the map for the development and deployment of clean hydrogen. The alliance included 13 major institutions from the public and private sectors that will join to support and facilitate the local production, transportation, utilization, and export of hydrogen in line with the energy diversification plans of Oman’s 2040 vision. Sultan of Oman His Majesty…

U.S. stock indexes tumbled on Thursday, with high-profile tech shares leading the rout, after the Federal Reserve’s largest rate increase since 1994 to combat decades-high inflation fanned worries of a recession. The selloff was severe as the Fed’s aggressive move raised fears of a spate of monetary tightening from global central banks that could slow growth around the world. Switzerland and Britain lifted rates following the Fed’s 75-basis-point hike on Wednesday. Among the mega-caps, Apple Inc, Microsoft Corp and Tesla Inc were some of the biggest losers as investors dumped so-called growth stocks that drove much of the stock-market rally in the…

World stocks plummeted again on Thursday and government bonds hovered at multi-year highs after a series of rate rises from global central banks rekindled fears that aggressive policy tightening could drag economies into recession. Following a relief rally on Wednesday when investors welcomed the U.S. Federal Reserve’s aggressive move to raise rates by 75 basis points – its biggest rate hike since 1994 – by buying shares, two other spates of policy tightening in Britain and Switzerland seemed to have sobered investors into refocusing on the chance that economies could slow as rates rise. “Can the economy take it? So…

The ceremony for the ministers to take the oath before His Majesty King Hamad bin Isa Al Khalifa was held today at Al Sakhir Palace. HM the King received His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, who introduced the new members of the Cabinet following their appointment by HM the King by a royal order issued on Monday. The deputy prime minister and ministers took the constitutional oath before HM the King. HM King Hamad congratulated them on their new positions, and wished them success in performing their duties to the best…

The Labour Fund (Tamkeen) in partnership with the Central Bank of Bahrain, the London-based Institute and Faculty of Actuaries, and the Bahrain Institute of Banking and Finance (BIBF) announced an initiative to train and employ Bahraini talent in the field of actuarial science which will prepare them for quality career opportunities in insurance firms in the Kingdom of Bahrain. The Institute and Faculty of Actuaries is a globally renowned provider of licensing and qualifications for actuaries through its extensive curriculum and examinations that ensure professionals in the field acquire the fundamental skills they need. This is done through a series…

Information and eGovernment Authority (iGA) Chief Executive Mohammed Ali Al Qaed held the second meeting of the third session of the Information and Communication Technology Governance Committee (ICTGC). The meeting discussed the procurement requests by government entities valued at approximately BD1.7 million. Al Qaed highlighted strategic government projects and procurement requests and discussed Bahrain’s taxi meter initiative aimed at making taxi services more accessible to citizens, residents, and visitors. The committee reviewed an Information Management System (IMS) project for the Ministry of Works, Municipalities Affairs & Urban Planning that will streamline the updating and management of data at testing laboratories…

UAE and Japan celebrate 50 years of diplomatic ties through the Abu Dhabi Festival “Variation and Autonomy: The Prints of Contemporary Japanese Painters.” The traveling show is set to run until July 7 and is curated by Kyoji Takizawa of the Machida City Museum of Graphic Arts in Tokyo and presents the work of ten artists who experimented with prints in the world of contemporary art in the 1970s. The show is part of the Abu Dhabi Festival 2022 held under the theme “Crafting the Emirates State of Mind: Creation, Innovation and Joy.” “Audiences in the UAE an opportunity to experience…

The World Health Organisation is looking into reports that the monkeypox virus is present in the semen of patients, exploring the possibility that the disease could be sexually transmitted, a WHO official said on Wednesday. Many cases in the current monkeypox outbreak, largely centred on Europe, are among sexual partners who have had close contact, and the agency reiterated that virus is mainly transmitted via close interpersonal contact. In recent days, scientists say they have detected viral DNA in the semen of a handful of monkeypox patients in Italy and Germany, including a lab-tested sample that suggested the virus found…

The White House is expected as soon as Wednesday to begin announcing around $1 billion worth of new weapons aid for Ukraine, including anti-ship rocket systems, artillery rockets, and rounds for howitzers, people familiar with the packages said. The aid packages, which come as U.S. Defense Secretary Lloyd Austin is meeting with allies in Brussels, could be split into two categories: transfer of excess defense articles from U.S. stocks and other weapons being funded by the Ukraine Security Assistance Initiative (USAI), a separate congressionally authorized program. Three people said that Biden was expected to announce more than $350 million worth…

President Emmanuel Macron voiced a tougher line on Russia on Wednesday and said Europe needed to send a strong signal to Ukraine as he sought to assuage concerns in Kyiv and among some European allies over his previous stance towards Moscow. Macron arrived in Romania on Tuesday for a three-day trip to Ukraine’s eastern neighbours including Moldova, before possibly heading to Kyiv on Thursday on a visit with German Chancellor Olaf Scholz, Italian Prime Minister Mario Draghi and Romanian President Klaus Iohannis, two diplomatic sources said. The symbolic visit would come a day before the European Commission makes a recommendation…