عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Arabia, IAEA Sign 'Junior Professionals Program Agreement' 

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz and IAEA Director Genera Rafael Grossi during the signing ceremony. (SPA)
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz and IAEA Director Genera Rafael Grossi during the signing ceremony. (SPA)
TT
TT

Saudi Arabia, IAEA Sign 'Junior Professionals Program Agreement' 

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz and IAEA Director Genera Rafael Grossi during the signing ceremony. (SPA)
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz and IAEA Director Genera Rafael Grossi during the signing ceremony. (SPA)

Saudi Minister of Energy and Chairman of the Board of Directors of King Abdullah City for Atomic and Renewable Energy (KACARE) Prince Abdulaziz bin Salman bin Abdulaziz signed on Monday the "Junior Professionals Program Agreement" with Director General of the International Atomic Energy Agency (IAEA) Rafael Grossi.

The agreement aims to train and develop young national human resources in various fields related to the technical aspects of the IAEA and beyond, enabling them to acquire expertise in areas that support the UN agency and address international issues discussed on its premises.

The signing ceremony was held on the sidelines of the 67th Regular Session of the IAEA General Conference in the Austrian capital, Vienna.

Most Viewed

 
 
Business

Most Gulf Markets Gain on Iran Deal

Traders wait at the Bahrain Bourse in Manama_ Bahrain_ November 8_ 2020. REUTERS
Traders wait at the Bahrain Bourse in Manama_ Bahrain_ November 8_ 2020. REUTERS
TT
TT

Most Gulf Markets Gain on Iran Deal

Traders wait at the Bahrain Bourse in Manama_ Bahrain_ November 8_ 2020. REUTERS
Traders wait at the Bahrain Bourse in Manama_ Bahrain_ November 8_ 2020. REUTERS

Most ‌Gulf equities rose in early trade on Monday after the US and Iran announced a preliminary deal to end the war and restore traffic through the Strait of Hormuz.

Pakistan's prime minister said the two countries ‌are expected to ‌sign a memorandum ‌of ⁠understanding in Switzerland ⁠on Friday, following mediation by Islamabad.

Trump said on Sunday the waterway would reopen "toll free" and that the US blockade of Iranian ⁠ports would be lifted, while ‌Iran's ‌Mehr news agency reported the ‌draft deal envisages reopening it ‌within 30 days under Iranian arrangements.

Saudi Arabia's benchmark index gained 0.5%, with the country's biggest ‌lender by assets, Saudi National Bank.

However, oil giant ⁠Saudi ⁠Aramco slipped 1.1%.

Brent crude futures fell $3.65, or 4.2%, to $83.68 a barrel by 0630 GMT.

Qatar's benchmark index advanced 1%, with Qatar National Bank, the region's largest lender, jumped 1.9%.

UAE bourses were closed for a public holiday.

Business

Musk Says SpaceX Could Bring $1 Trillion in Revenue by 2030

Founder, CEO, Chairman, and Chief Engineer of SpaceX, Elon Musk, speaks via videolink on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite in New York City, US, June 12, 2026. REUTERS/Brendan McDermid
Founder, CEO, Chairman, and Chief Engineer of SpaceX, Elon Musk, speaks via videolink on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite in New York City, US, June 12, 2026. REUTERS/Brendan McDermid
TT
TT

Musk Says SpaceX Could Bring $1 Trillion in Revenue by 2030

Founder, CEO, Chairman, and Chief Engineer of SpaceX, Elon Musk, speaks via videolink on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite in New York City, US, June 12, 2026. REUTERS/Brendan McDermid
Founder, CEO, Chairman, and Chief Engineer of SpaceX, Elon Musk, speaks via videolink on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite in New York City, US, June 12, 2026. REUTERS/Brendan McDermid

Elon ‌Musk said on Sunday that his rocket company, SpaceX, could bring in $1 trillion in revenue by 2030, making the statement two days after the company went public, valuing it at over $2 trillion.

"And I would be surprised if revenue ‌is not greater ‌than $1T in 2031," he ‌wrote ⁠on his social ⁠media platform X, replying to journalist and financial commentator Jon Erlichman.

SpaceX on Friday became the sixth-largest US firm, cementing Musk's status as the ⁠world's first trillionaire.

However, the ‌company ‌still makes far less money than similarly ‌valued tech giants like ‌Broadcom and Amazon.com.

In 2025, SpaceX's revenue jumped to $18.67 billion from $14.02 billion a year earlier, but the ‌company swung to a net loss of $4.94 billion from ⁠a ⁠profit of $791 million.

Some Wall Street analysts are cautious about the company's growth.

Goldman had estimated that SpaceX's revenue would exceed $470 billion in 2030, while Morgan Stanley projected it would reach nearly $330 billion, according to a Wall Street Journal report from earlier this month.

Business

Fitch Affirms China's Credit Rating at 'A'

A woman walks past murals at a shopping center in Beijing on June 13, 2026. (AFP)
A woman walks past murals at a shopping center in Beijing on June 13, 2026. (AFP)
TT
TT

Fitch Affirms China's Credit Rating at 'A'

A woman walks past murals at a shopping center in Beijing on June 13, 2026. (AFP)
A woman walks past murals at a shopping center in Beijing on June 13, 2026. (AFP)

Global ratings agency Fitch on Monday affirmed China's long-term sovereign rating at "A" with a stable outlook, citing its large and diversified ‌economy, which supports ‌prospects for solid ‌GDP ⁠growth and the ⁠country's important role in global trade.

China, which faced high US tariff uncertainty last year, should see some relaxation after US President ⁠Donald Trump's visit, Fitch said, ‌even ‌as it warned of weak ‌household confidence weighing on goods ‌consumption.

Data from last month showed China's official manufacturing purchasing managers' index dropping to 50 from ‌50.3 in April, its lowest reading in three months ⁠as ⁠demand weakened. A level below 50 typically signals contraction.

"The energy price shock may pose a challenge, but large crude oil inventories, substantial refining capacity and diversified energy sources should cushion risks," the ratings agency said.