Latest news with #Saudi Arabia
Zawya
12 minutes ago
- Business
- Zawya
Mideast Stocks: Gulf stocks gain on earnings optimism, ahead of US Fed outlook
Major Gulf equities rebounded in volatile trade on Wednesday as investors shrugged off underwhelming earnings and rotated into selective buying ahead of key corporate results and the U.S. Federal Reserve's policy decision, due later in the day. While the Fed is widely expected to hold interest rates steady, the possibility of dovish dissent has provided a measure of optimism. The Fed's stance holds significant implications for Gulf economies, where most currencies are pegged to the U.S. dollar, making it a key anchor for regional monetary stability. Saudi Arabia's benchmark index <.TASI> picked up 0.8% driven by broad sector gains and investor enthusiasm ahead of major earnings announcements from SABIC < and Aramco < due next week. Halwani Brothers < showed sharp intraday volatility, dropping nearly 5% after reporting a significant quarterly profit decline, before rebounding to close up by over 4%, reflecting a mix of sell-offs, bargain hunting and short-covering. Dubai's benchmark index <.DFMGI> rose 0.5% to hit over a 17-1/2-year high, logging its sixth straight session of gains, as hopes remain high ahead of key earnings, mainly from the real estate sector. Gains were driven by a 1.5% jump in toll operator Salik maintaining the same stretch of wins. The Abu Dhabi index <.FTFADGI> gained 0.1%, lifted by selective buying amid a mixed but largely encouraging earnings season. ADNOC Drilling advanced 1%, boosted by solid growth and a confident full-year outlook. Shares of Emirates Telecommunications Group(e&) added nearly 1.5%, as the telecom giant is slated to report its quarterly earnings on Thursday. Qatar's stock index <.QSI> bounced back 0.1%, recovering from two sessions of profit-taking, as optimism builds ahead of heavyweight earnings announcements. Beyond earnings, market sentiment remains focused on global trade developments ahead of the August 1 U.S. tariff deadline. Following two days of negotiations, the U.S. and China agreed to seek an extension of their 90-day tariff truce, set to expire on August 12. Meanwhile, South Korea was also lobbying to secure a trade deal as its officials met U.S. Commerce Secretary Howard Lutnick in Washington. While concerns linger over the impact of tariff policies on global growth and energy demand, the latest developments have helped bolster confidence in the resilience of oil-dependent Gulf economies. Outside the Gulf, Egypt's blue-chip index <.EGX30>, eased 0.7%, as investors locked in profits following a recent record peak. Talaat Moustafa Group fell 1.1%. (Reporting by Amna Mariyam in Bengaluru; Editing by Vijay Kishore)
Asharq Al-Awsat
15 minutes ago
- General
- Asharq Al-Awsat
Saudi Arabia Sends Additional Relief Convoy to Gaza
Seven additional Saudi relief trucks crossed the Rafah border on Wednesday, carrying food aid provided by the King Salman Humanitarian Aid and Relief Center (KSrelief), en route to the Gaza Strip. KSrelief has so far dispatched 58 aircraft and eight ships, delivering a total of 7,188 tons of aid that includes shelter materials, medical supplies, and food. Furthermore, 20 ambulances have been handed over to the Palestine Red Crescent Society. The center has also signed agreements with several international organizations to fund relief projects for the Palestinian people in Gaza, with a total value of over $90 million, SPA reported. Saudi Arabia, through KSrelief and in cooperation with Jordan, launched an airdrop initiative to deliver specialized food assistance to affected civilians in Gaza, aiming to overcome the restrictions caused by the closure of border crossings. The Gaza Strip continues to face dire humanitarian conditions and a severe famine crisis, making these relief efforts vital in supporting families, especially as the war persists and living conditions worsen for many households.
Zawya
an hour ago
- Health
- Zawya
KFSHRC advances robotic surgery with a successful Ivor Lewis Esophagectomy
King Faisal Specialist Hospital and Research Centre (KFSHRC) in Riyadh successfully performed a robotic Ivor Lewis esophagectomy, the first of its kind in the Middle East, on a 46-year-old male diagnosed with gastroesophageal junction adenocarcinoma, a type of cancer located near the area where the esophagus meets the stomach. The patient regained mobility within two days of surgery, began oral intake by day five, and was discharged within ten days. This outcome demonstrates the effectiveness of the robotic approach in reducing pain, minimizing complications, and accelerating recovery compared to conventional surgery. The procedure was led by Dr. Khalid Aldaghri, Consultant in bariatric, upper gastrointestinal, and robotic surgery at KFSHRC. Utilizing the Ivor Lewis technique, a complex and technically demanding procedure involving two phases. The abdominal phase involved stomach mobilization and creation of a gastric conduit. This was followed by the thoracic phase, in which the diseased esophagus was resected and the conduit is robotically connected within the chest. Precision in the robotic system enabled surgeons to reach deep anatomical areas without large incisions, enhancing safety, reducing risks, and improving outcomes in one of the most complex cancer surgeries. Close collaboration among surgical, anesthesia, nursing, and technical teams was key to the procedure's success. All teams worked synchronously across every stage, from pre-op planning to post-op recovery. This approach reflects KFSHRC's multidisciplinary model of care, designed to improve patient outcomes and boost clinical efficiency. With its advanced features, the robotic surgery significantly enhanced the safety and accuracy of the esophagectomy by offering three-dimensional high-definition visualization, stable instrument control, and superior access within confined anatomical spaces. These capabilities enabled more precise dissection, better preservation of surrounding structures such as nerves and vessels and reduced intraoperative risks. The technology also made it physically easier for the surgeon to operate over an extended period. As a medical milestone, the success of this procedure opens the door for broader applications of robotic surgery at KFSHRC. It enables more patients to benefit from advanced surgical techniques and reinforces the institution's commitment to clinical innovation, safety, and effective alternatives to traditional surgical approaches. It is noteworthy that King Faisal Specialist Hospital & Research Centre has been ranked first in the Middle East and Africa and 15th globally in the list of the world's top 250 Academic Medical Centers for 2025. It was also recognized as the most valuable healthcare brand in the Kingdom and the Middle East by Brand Finance in 2024 and was listed among the World's Best Smart Hospitals by Newsweek for 2025.
Arab News
2 hours ago
- Science
- Arab News
Saudi royal reserve launches eco campaigns
RIYADH: The Imam Turki bin Abdullah Royal Reserve Development Authority has stepped up efforts to combat environmental challenges through campaigns aimed at reducing harmful behaviors and raising awareness about pollution, the Saudi Press Agency reported. The authority has warned of the cumulative impact of harmful practices, stressing that actions like lighting fires in open areas or dumping waste severely damage soil and vegetation and weaken the ecosystem's ability to regenerate and stay balanced. Pollution begins in the soil, it explained, where chemicals and solid pollutants affect its biological properties and disrupt its role in supporting plant life. The damage extends to groundwater and worsens as pollutants reach the air, releasing toxic gases from burning or decomposing waste. The authority said environmental protection depended on compliance with regulations, adding that cooperation between individuals and relevant entities was key to minimizing damage and ensuring ecosystem stability across the Kingdom. Covering 91,500 sq. km, the Imam Turki bin Abdullah Royal Reserve is the second-largest royal reserve, home to 138 wildlife species and 179 plant species. It is known for its rich ecology, stunning landscapes and heritage sites.
Bloomberg
2 hours ago
- Politics
- Bloomberg
US Calls Off Sudan Peace Talks After Dispute Over Post-War Power
The US postponed a meeting of foreign ministers to discuss the war in Sudan because of a dispute over the wording of a proposed joint statement, according to people familiar with the matter. Secretary of State Marco Rubio was scheduled to host the foreign ministers of Saudi Arabia, the United Arab Emirates and Egypt in Washington on Wednesday. The discussions by the so-called Quad of countries were aimed at advancing peace talks between two Sudanese generals who've been at war since April 2023.
