• Dubai receives 3.67 million visitors in first two months of 2024

    Dubai, UAE--Dubai received 3.67 million overnight visitors in January-February 2024, with an increase of over 18 percent year-on-year (YoY), figures released by Dubai Department of Economy and Tourism (DET) showed. According to the DET's Tourism Performance Report for January-February 2024, Dubai recorded 1.77 million international visitors in January, and 1.9...

  • Turkish Airlines profits soar

    In December, the airline ordered 230 Airbus planes.

  • Economic growth in Asia forecast to slow to 4.5 percent, says World Bank

    Bangkok, Thailand--Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5 percent this year from 5.1 percent in 2023, Associated Press (AP) quoted a World Bank report as saying on Monday. Debt, trade barriers and policy uncertainties are dulling...

  • BYD posts record 2023 profit

    The Shenzhen-based firm is now moving quickly overseas.

  • 50% of firms attracted to Dubai by DIC in 2023 Asian and Australian

    Dubai, UAE -- Nearly 50 percent of the Multinational Corporations (MNCs) that opened businesses in Dubai during 2023 are based in Asia and Australia, according to the Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers. The Chamber said in a statement that growing...

  • Doha Bank bond issue oversubscribed four times

    Doha, Qatar - Doha Bank has successfully issued $500 million in international bonds, garnering a total order book of $2 billion, marking an oversubscription of 4 times. The investor base includes prominent asset managers, banks, private banks, and insurance companies from the United States, Europe, Asia, and the Middle East....

  • Boeing readies for competition with China’s first passenger plane

    Singapore, Singapore - Boeing said Wednesday it was preparing to compete with China's first domestically produced passenger plane, which was showcased for the first time to international buyers at Asia's biggest airshow. The single-aisle C919 aircraft made its international debut this week at the Singapore Airshow, featuring in both flying and...

  • World’s biggest flying lab comes to Asia on air pollution mission

    Clark, Philippines - NASA has kicked off a series of marathon flights in Asia with the world's biggest flying laboratory, in an ambitious mission to improve the models that help to forecast and fight air pollution. Millions of deaths each year are linked to air pollution, and improving the ability to identify its...

  • European markets surge as US jobs data batter rate cut hopes

    "The markets continue to forge ahead despite a blowout jobs report from the US last Friday which seems to have finally put the nail in the coffin of the idea rates will be cut next month," said AJ Bell investment director Russ Mould.

  • China economic slowdown to continue for the next four years, says IMF

    BEIJING, CHINA - China's economic slowdown is likely to persist in the coming years as the Asian giant struggles with sagging productivity and a rapidly aging population, the International Monetary Fund (IMF) said on Friday. The world's second-largest economy last year saw some of its slowest growth in decades, as a...

  • IMF says Red Sea shipping down one-third due to Houthi attacks

    "Container shipping... has declined by almost 30 percent," said Jihad Azour, director of the IMF's Middle East and Central Asia department, adding that "the drop in trade accelerated in the beginning of this year."

  • Maersk and Hapag-Lloyd ink deal

    The cooperation deal between the two will begin February 2025.

  • GCC telecom firms turn to Europe, Asia for expansion

    Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home territory.

  • Markets drop as US jobs deal fresh blow to early rate cut hopes

    Hong Kong, China - Asian markets stumbled out of the gates Monday, extending last week's grim start to the year, after a forecast-busting US jobs report further dampened hopes for an early interest rate cut. The keenly awaited non-farm payrolls data Friday showed the world's number one economy remains resilient despite...

  • GCC telecom firms turn to Europe, Asia for expansion

    Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home territory.

  • India’s solar mission Aditya-L1 enters Sun’s orbit

    New Delhi, India - India's solar observation mission on Saturday entered the Sun's orbit after a four-month journey, the latest success for the space exploration ambitions of the world's most populous nation. The Aditya-L1 mission was launched in September and is carrying an array of instruments to measure and observe the...

  • Asia stocks track global losses as traders step back after rally

    Hong Kong, China - Asian markets fell Wednesday in line with a sell-off across most of the world as traders took their cash off the table after a blockbuster end to 2023, with eyes now on the release this week of Federal Reserve minutes and US jobs data. Equities surged in...

  • Turkey detains 56 high-priority suspects wanted by 18 countries

    The detained people were wanted in the United States, Germany, India, and several former Soviet republics as well as other parts of Asia and the Middle East.

  • Europe stocks rise, Asia tepid as oil jumps and Bitcoin shines

    Following record highs in 2023 for the likes of Paris, Frankfurt and Tokyo, investors are predicting more gains as central banks prepare a series of interest-rate cuts as inflation cools. Oil prices rallied 2.5 percent on supply concerns after Iran dispatched a warship to the Red Sea in response to...

  • Asian countries score high in keenly watched PISA education survey

    Paris, France - Asian countries dominated the top spots in a keenly watched survey of education capabilities published Tuesday, while levels in Europe slipped at a record pace -- and not just because of Covid. However, the report also showed that students in top performing countries were not necessarily happier. The...

  • Gold strikes fresh record high as rate cut bets surge

    Hong Kong, China - Gold prices soared to a record high above $2,100 on Monday as traders grow increasingly confident the Federal Reserve will cut interest rates in the new year. The precious metal struck $2,135.39 in early Asian trade, topping the previous all-time high set in 2020, during the pandemic....

  • ADB plans to invest US$100bn to maximize climate impact

    MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB) plans to invest US$100 billion of its own funds and work with the public and private sector to maximize its climate impact. With the region on the frontline of the...

  • WHO says misuse of antibiotics undermining efficacy

    Copenhagen, Denmark - Misuse of antibiotics is denting their efficacy and spawning resistant bacteria which could be responsible for 10 million deaths worldwide by 2050, the World Health Organization warned on Thursday. WHO's European chapter conducted a study which showed that antibiotics were prescribed for things like common cold (24 percent...

  • Tajikistan plans to link up with China’s telecom network

    Dushanbe, Tajikistan - Tajikistan announced plans Friday to link with China's telecommunications network in order to improve the mountainous, landlocked country's internet access, as Beijing's influence in Central Asia grows. Tajikistan has one of the slowest internet services in the world despite improvements in recent years, with all traffic going through...

  • Arab and Iranian leaders likely to attend Saudi’s dual event on Gaza

    The emergency meetings of the Arab League and the Organization of Islamic Cooperation come after over one month of Israeli bombardment has killed more than 10,000 people in Gaza, many of them children, according to the Hamas-run health ministry. With Israel's leaders rebuffing talk of a ceasefire until the captives...

  • QatarEnergy inks second 27-year gas supply deal with China’s Sinopec

    DOHA, QATAR - Qatar has agreed to supply Sinopec with natural gas for 27 years, the Gulf emirate's state-owned energy company said on Saturday, its second such deal with the Chinese firm.   Doha will supply three million tonnes of gas a year under the deal, QatarEnergy said, announcing another agreement granting...

  • Mubadala issues its first-ever Green Bond for $750m

    Abu Dhabi, UAE - Mubadala has issued its first-ever Green Bond for US$750 million with a tenor of 10.5 years, at a yield of 6.03 percent and coupon at 5.875 percent. The issue saw strong demand from the market. The order books peaked at more than $6 billion with robust...

  • Asian stocks drop as Israel-Hamas conflict threatens to expand

    Markets had enjoyed a healthy run Tuesday on optimism that while Israeli Prime Minister Benjamin Netanyahu was preparing for a ground offensive in the blockaded territory, the crisis could be contained.

  • Major equity markets up, oil dips after surge on Israel-Hamas conflict

    "Equity markets are bouncing back on Tuesday after a risk-averse start to the week, buoyed... by some promising Fed commentary," said analyst Craig Erlam at trading firm OANDA.

  • Cathay Pacific orders A320neo planes

    The value of the deal is expected between $3.2 billion to $4.1 billion.

  • China wants to be world’s strongest nation, says Blinken

    WASHINGTON, US  - China is seeking to surpass the United States as the top power in the world, US Secretary of State Antony Blinken said on Thursday, as he again warned on Taiwan. Successive US presidents have called China the top long-term challenge to the United States, but some US analysts...

  • India-Middle East trade corridor hits Turkey hurdle, alternate route proposed

    Ankara, Turkey - Turkey is engaged in “intensive negotiations” with regional partners to propose an alternative to the India-Middle East trade corridor plan agreed upon at the recent G20 summit, Financial Times reported on Sunday. The country aims to reinforce its historical role as a vital transport route for goods...

  • Countries must cooperate to battle sandstorm threat, say UN, Iran

    Countries in the Middle East, Africa and Asia must work together to combat sand and dust storms made increasingly severe by climate change, the United Nations and Iran said. “I urge you to use your time in Tehran to build partnerships, increase cooperation and commit to practical action,” UN chief...

  • 2023 likely to be hottest year in human history, says EU climate monitor

    "2023 is the year that climate records were not just broken but smashed," said Mark Maslin, a professor of climatology at University College London.

  • Stocks advance but traders wary of US rates outlook, China concerns

    The gains, including a jump in US tech stocks, "looked more like a correction than a reaction to fresh news, as there was no fresh news that went against the slowing China rhetoric" or indication of a possible shift in policy by US monetary policymakers, said Swissquote Bank analyst Ipek...

  • Dubai Chamber attracts 69 emerging technology firms in H1

    Dubai, UAE -- Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers, attracted 69 emerging technology companies to the emirate in the first half of 2023 in partnership with various government authorities. The chamber said that during the six-month period, the chamber...

  • 6 MNCs among new businesses attracted by Dubai Chamber in H1

    Dubai, UAE - Dubai International Chamber attracted 56 businesses to the emirate during H1 2023, including six multinational corporations and 50 Small and Medium-sized Enterprises (SMEs), local media reports said. It also supported the expansion of 15 local and national companies into global markets, either by increasing their exports or...

  • European LNG imports fall to lowest level since start of Ukraine war

    Brussels, Belgium - Europe's liquefied natural gas (LNG) imports fell to the lowest level since the start of the Russian military operations in Ukraine after a drop in prices reduced the regions appeal. LNG deliveries fell 7% in July from a year earlier to 8.6 million tons, the least since...

  • Asian markets swing as US jobs data disappoint

    Asian equities wobbled at the end of a draining week as fresh US jobs data put revived bets on two more Federal Reserve interest rate hikes, adding to ongoing worries about China's economy. Investors have largely been on the back foot since Beijing announced a big miss on second-quarter growth.

  • Asian markets decline as US data spark interest rate fears

    Asian stocks tumbled again after another round of strong US data reinforced expectations the Federal Reserve will resume its interest rate hikes as officials wrestle with stubbornly high inflation. After a strong start to the week fueled by signs that US prices were stabilizing, regional markets have taken a turn...

  • World saw hottest June on record, Tuesday hottest day ever

    Petteri Taalas, secretary-general of the UN's World Meteorological Organization, warned on Monday that El Nino "will greatly increase the likelihood of breaking temperature records and triggering more extreme heat in many parts of the world and in the ocean."

  • Oil prices increase after Saudi Arabia and Russia cut crude output

    In April, several OPEC+ members opted to slash production voluntarily by more than one million bpd -- a surprise move that briefly raised prices but failed to bring about lasting price recovery.

  • Jordan’s exports to non-Arab Asian countries climb to US$1.16bn in Q1

    Amman, Jordan-- Trade between Jordan and non-Arab Asian countries has shot up in the first quarter of 2023, with the value of the kingdom's exports to the countries surging to about $1.16 billion, compared to about $1.07 billion for the same period last year, according to foreign trade data issued...

  • Muslims mark Eid al-Adha with prayers, festivities

    Hundreds of millions of Muslims in their best dresses packed mosques in the Middle East, Asia, Europe, Africa, and the Americas to mark the festive occasion.

  • Iran’s oil exports surge to 1.9 million barrels per day in May

    In spite of economic sanctions imposed by the Western governments against Iran, the country has seen its oil exports surge in May to 1.9 million barrels per day. According to its oil minister, the energy diplomacy and its strengthening relations with countries in Asia, Africa, and Latin America have helped...

  • Hyundai targets two million EV sales by 2030

    SEOUL, SOUTH KOREA - Hyundai Motor said on Tuesday it aims to sell two million electric vehicles a year by 2030, raising its target from the 1.87 million it set last year as the market for clean-energy vehicles continues to soar. It also announced plans to invest a total of 109.4 trillion...

  • HSBC relaunches SVB UK

    The new unit is headed by former SVB UK boss Erin Platts.

  • 45 governments endorse doubling energy efficiency by 2030

    PARIS, FRANCE -  Forty-five governments have endorsed doubling the average global rate of energy efficiency improvements by the end of the decade to foster sustainable economic growth. This will help put the world on a secure and affordable path towards net zero emissions. "It’s hard to overstate the importance of...

  • Turkish Airlines ponders buying 600 planes in two months

    ISTANBUL, TURKEY - The chairman of Turkish Airlines said Monday that the company will make a final decision on plans for a record-breaking order of 600 aircraft in two months. The airline is in talks with US aircraft maker Boeing and its European rival Airbus to purchase 400 single-aisle planes along...

  • UAE exports to reach $544bn by 2030, says Standard Chartered report

    DUBAI, UAE -  The UAE is poised to play a pivotal role in global trade with its exports projected to reach around US$544 billion (AED2 trillion) by 2030, showcasing a robust annual growth rate of 5.5 percent. according to a Standard Chartered research study. The report, titled 'Future of Trade:...

  • Equities sink as hardliners Republicans threaten US debt deal

    "With some hardliners in the Republican party coming out against the agreement (in a vote due Wednesday), its passage through Congress could be bumpy," warned AJ Bell investment director Russ Mould. "Weak Chinese data also contributed to a subdued market mood with Asian stocks a little sickly."