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Stargazers should check local astronomical resources for specific timing details based on their location The UAE, Saudi Arabia, together with other areas across the world will experience a special rare celestial show of a total lunar eclipse also known as a ‘Blood Worm Moon” this March. The Earth’s shadow will pass across the moon during this event which will turn it red through the process of shadow illumination. A complete comprehension of the space occurrence forms the basis of this information which also includes specific observing areas such as UAE and U.S.What is a Blood Worm Moon?The scientific name ‘Blood…

Finance Minister Muhammad Aurangzeb said on Tuesday that for the first time, sugar sent to Afghanistan was not smuggled but exported with the help of all law enforcement authorities deployed at the border. Smuggling between Pakistan and Afghanistan has long been a crucial issue, impacting both economies and security dynamics. The porous Durand Line facilitates the illicit movement of goods such as electronics, fuel, and everyday essentials. The Afghan transit trade is often misused, with items rerouted back into Pakistan to evade duties. To curb this, authorities have imposed fees, but smuggling persists, requiring stronger enforcement and cooperation. During a…

U.S. government pushback against China’s growing dominance in the shipbuilding industry that began under President Joe Biden is being escalated by the Trump administration as part of the president’s widening global economic and trade war, with the world’s largest ocean freight companies facing the threat of fines of up to $1.5 million for Chinese-made container ships that call on U.S. ports.In recent years, China’s presence in the shipbuilding sector has rapidly grown, with China overtaking former leader South Korea in all vessel building sectors. In 2024, Chinese-built container vessels held 81% market share, according to Veson Nautical data. In the…

China’s new energy sector – which has been embroiled in a vicious price war – is set for a brutal “three-year elimination contest” that more than three-quarters of firms are unlikely to survive, industry insiders said.The statement came as China’s top leadership vowed to stamp out the cutthroat competition plaguing swathes of the economy during the “two sessions” – the annual meeting of the country’s top legislative and consultative bodies in Beijing.China’s electric car market is already rapidly consolidating. In the late 2010s, there were more than 400 car makers in China, according to domestic media reports. Now, that figure…

The total net profit of Saudi banks rose to SAR80 billion in 2024 from SAR70 billion in 2023Net income at banks in Saudi Arabia improved to SAR21.5 billion ($5.73 billion) in the fourth quarter of 2o24, compared to SAR20 billion in the third quarter, as interest rate cuts helped boost net interest margins, said Fitch Ratings in its latest report. Lending growth also remained strong and Fitch expects the Kingdom to continue outpacing other Gulf nations this year.The report estimates that the average net interest margins for Saudi banks rose to 3.2 percent in Q4 of 2024 as the cost…

Indian nationals topped passenger numbers at Muscat International Airport with 90,081 arrivals The total number of passengers traveling through the airports of the Sultanate of Oman by the conclusion of January 2025 reached 1,331,619. The total number of flights arriving and departing from Oman’s airports by the end of January 2025 amounted to 8,983 flights, as per preliminary statistics released by the National Centre for Statistics and Information (NCSI).The number of passengers passing through Muscat International Airport by the end of January 2025 reached 1,200,339, reflecting a decrease of 7 percent. This figure includes 1,109,650 international passengers and 90,689 domestic…

Agreements create a unified platform for approving infrastructure projects and managing public road activities Dubai’s Roads and Transport Authority (RTA) has entered into nine cooperation agreements with several prominent property developers and free zones within the emirate. The agreements aim to establish a unified platform for the approval of infrastructure project requests and to manage activities occurring within the right-of-way and public roads. Additionally, they aim to enhance road safety, improve service levels, and ensure that development projects comply with the highest standards and regulations established by the relevant authorities.RTA’s commitment to world-class infrastructureRTA remains dedicated to upholding world-class infrastructure…

L’Oreal could avoid the worst of the tariff war with the U.S., the beauty giant’s CEO Nicolas Hieronimus, told CNBC, warning that the price impact could still hit consumers Hieronimus said he is “not overly concerned” over the impact of White House tariffs on L’Oreal, as the group produces most of its goods sold in the U.S. in the North American country. Some of the cosmetics titan’s luxury products, such as fragrances, are nevertheless exported from Europe.”Right now, there’s no tariff on this category,” he said. “Should there be one? Well, we will work around it. There’s pricing power. There’s also…

The two sides welcomed the upcoming reestablishment of the Saudi-Ukrainian Business Council in 2025Saudi Arabia and Ukraine issued today a joint statement, outlining their plans to enhance economic cooperation and trade ties. The two sides also welcomed the upcoming reestablishment of the Saudi-Ukrainian Business Council in 2025. This came following President of Ukraine Volodymyr Zelenskyy’s official visit to Saudi Arabia yesterday.His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, received President Zelenskyy at Al-Salam Palace in Jeddah where they held an official discussion session.During the meeting, the two sides reviewed the aspects of the…

Beijing is poised to add more detailed measures to its draft private economy promotion law, after last month’s second review of the proposed legislation by lawmakers sparked wider discussions on market entry and enforcement issues, analysts said.The drafting of the law began last year as the Chinese authorities made the revitalisation of domestic dynamism a priority. However, it was not deliberated over or passed at the annual session of the National People’s Congress (NPC) – the country’s top legislature – which concluded on Tuesday.That may be due to the complex nature of the new law, which is designed to augment…