Riyadh, Saudi Arabia - Saudi Arabia topped the UN Tourism’s ranking for the growth of international tourist arrivals in 2023 compared to 2019 among large destinations, achieving an increase of 56%, according to the World Tourism Barometer report released last month. The kingdom recorded a remarkable tourism recovery rate of...

"As the IEA celebrates its 50th anniversary this week, oil supply security remains as critical as ever," said the agency created half a century ago by the OECD to help rich countries weather the 1970s oil crisis which wreaked widespread economic havoc. "Given heightened geopolitical risks and low global oil...

Growth fueled by Ford Territory, F-150 and other models.

Chief Executive James Quincey described consumers in North America as "holding up well," although he acknowledged "a little softening" through 2023 in the United States due to persistently higher prices that have pressured low-income shoppers. Coca-Cola projected 2024 revenue growth of six to seven percent when foreign exchange and the...

"The current military-security situation heralds what is likely to be a more dangerous decade, characterized by the brazen application by some of military power to pursue claims," the report said.

World Bank President Ajay Banga said that "what's going on Gaza, but also the challenges of Ukraine... and the Red Sea" are among the top challenges to the global economic outlook. "When you add variables to what is turning out to be probably the lowest growth of the last 55...

Dubai, UAE -- International Monetary Fund (IMF) chief Kristalina Georgieva has forecasted that the total GDP growth for the Middle East region would reach 2.9 percent this year, surpassing the figures from 2023. Speaking on the sidelines of the pre-summit day of WGS 2024's Eighth Arab Fiscal Forum, Georgieva emphasized...

From Saudi Arabia to the UAE and Qatar to Kuwait, governments across the region compete to jumpstart industrial sector but doubts remain whether it can be pulled off.

Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But doubts remain whether it can be pulled off.

"The presence of US forces in our region has no justification," Raisi said in a Tehran ceremony ahead of the 45th anniversary of Iran's Islamic revolution on February 12.

"There's a lot of work to be done, but we are very much focused on doing that work and hopefully being able to resume the release of hostages that was interrupted" after a week-long truce in November, he said. The US top envoy, on his fifth Middle East tour since...

Cairo, Egypt -- The potential termination of the UN Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) due to a lack of funds poses a danger for the entire region, Arab League Secretary General Ahmed Aboul Gheit said. "The cessation of the work of this UN...

The OECD raised its 2024 world economic growth forecast Monday but warned that the Middle East conflict posed a risk, with disruptions in Red Sea shipping threatening to increase consumer prices. Global growth "proved unexpectedly resilient" in 2023, reaching 3.1 percent as inflation declined faster than anticipated..

McDonald's cited war in the Middle East as a drag.

On his fifth trip to the region since the war broke out, Blinken will visit Saudi Arabia, Israel and mediators Egypt and Qatar. Ahead of the trip he stressed the need for "urgently addressing humanitarian needs in Gaza", after aid groups have repeatedly sounded the alarm over the devastating impact...

The US secretary of state is expected to discuss a proposed truce hammered out in a Paris meeting in January of top US, Israeli, Egyptian and Qatari officials. The diplomatic push has become more urgent with the surge in attacks by Iran-backed groups in solidarity with Hamas, triggering counterattacks by...

Riyadh, Saudi Arabia--Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), held a virtual meeting with ministers from the region to discuss a strategy for food security in the Middle East. Ministers responsible for agriculture and food security from the GCC countries attended the meeting. The meeting discussed...

Devoteam Middle East is a subsidiary of Devoteam Group.

Palestinian group Hamas condemned overnight US strikes in Iraq and Syria, saying Washington had poured "oil on the fire" in the Middle East. The US "bears responsibility for the consequences of this brutal aggression against both Iraq and Syria, which pour oil on the fire," the group said in a...

European Union foreign policy chief Josep Borrell called on all parties to avoid further escalation in the Middle East after US strikes on Iran-linked groups in Syria and Iraq. "Everybody should try to avoid that the situation becomes explosive," Borrell said at a meeting of EU foreign ministers in Brussels.

The attack was the latest in a series of drone and missile strikes launched by the Houthis since the start of the Gaza war between Israel and Palestinian fighters group Hamas nearly four months ago. The Houthis have also repeatedly targeted vessels in the Red Sea with strikes they say...

"The United States does not seek conflict in the Middle East or anywhere else in the world. But let all those who might seek to do us harm know this: If you harm an American, we will respond," US president Joe Biden said.

Canon focuses on innovation, integrating AI-driven features, deep learning and machine learning to meet changing customer needs, says a top executive of Canon Middle East.

"Any (US) strike will result in an appropriate response," Al-Nujaba leader Akram al-Kaabi said in a statement, adding the group would continue its actions until its demands are met for US troops to leave Iraq and an end to Israel's war on Hamas in Gaza.

Paris, France - Hackers have used the notorious Pegasus spyware to break into the phones of dozens of journalists and activists in Jordan over the past four years, according to the findings of an investigation released Thursday. The Access Now NGO highlighted 35 cases of hacking that date back to 2019,...

Geneva, Switzerland-- Air cargo demand rebounded in 2023 with a particularly strong fourth quarter performance despite economic uncertainties, according to new data for global air-freight market released by the International Air Transport Association (IATA). As per the new data full-year demand reached a level just slightly below 2022 and 2019....

Geneva, Switzerland -- Middle Eastern carriers reported a 1.6 percent increase for global and international demand in 2023 compared to 2022 and an increase in capacity of 13.5 percent (13.6 percent for international operations), the International Air Transport Association (IATA) said. In December, airlines in the region posted an 18.3 percent increase in...

Ankara, Turkey - Turkish Foreign Minister Hakan Fidan on Monday expressed serious apprehensions about the escalating situation in the Gaza Strip, warning that unless the global community takes immediate action, two million people may die. "Humanitarian aid and medical supplies are not allowed into Gaza. This is a harbinger of...

The firm said the new brand will replace MiCCO Logistics.

US President Joe Biden held Iran-backed fighters responsible for the killing of US troops and vowed to hold the perpetrators to account. It is the first time American soldiers have been killed by hostile fire in the region since Israel launched its war on Gaza, and the incident will further...

"The news of three US troops being killed by a drone attack, and President Biden saying 'we shall respond', will likely dial up the market’s focus on the region," Andrew Ticehurst, at Nomura, said. The news comes as Israel presses on with its war against Hamas, adding to investor concerns...

The top UN court said Israel should do everything it could to prevent any acts of genocide in the Gaza Strip, in a highly anticipated ruling. Israel must do everything to "prevent the commission of all acts within the scope" of the Genocide Convention, said the International Court of Justice.

Hong Kong-- The global Islamic finance market would touch US$4.9 trillion by 2025, according to Yazrin Syakhairi, Malaysian Trade Commissioner at the Consulate General of Malaysia in Hong Kong. Speaking on the sidelines of the Asian Financial Forum (AFF) in Hong Kong, Syakhairi told the Emirates News Agency (WAM) that...

Finance Minister Bezalel Smotrich commented after Prime Minister Benjamin Netanyahu was caught on tape allegedly telling hostages' families this week that Qatar's mediation was "problematic" when it came to resolving the hostage crisis. Smotrich accused Western governments of being "hypocritical" in maintaining close relations with Doha.

Planned talks in Ankara in early January were called off when twin blasts claimed by IS group jihadists killed 89 people at the shrine of assassinated Islamic Revolutionary Guard Corps general Qasem Soleimani. A trip he had planned for November was cancelled because of conflicting schedules of diplomats involved in...

Raisi will meet Turkish counterpart Recep Tayyip Erdogan in the capital Ankara, making a visit that was postponed twice -- once in November and once earlier this month -- because of spiraling tensions across the Middle East.

A surge in tech titans including Apple, Amazon, Nvidia and Facebook parent Meta on Friday pushed New York's S&P 500 index to its first new all-time high since early 2022 thanks to bets on lower borrowing costs this year.

A senior Hamas official dismissed comments by US President Joe Biden about the possibility of Israel agreeing to the establishment of a Palestinian state. Biden said it was still possible that Israeli Prime Minister Benjamin Netanyahu could agree to some form of Palestinian state after the two leaders spoke by...

US Secretary of State Antony Blinken told the World Economic Forum in Davos, Switzerland this week said Israel would not get "genuine security" without a "pathway to a Palestinian state." Israel's relentless air and ground offensive has killed at least 24,762 Palestinians, around 70 percent of them women, young children and...

"International tourism is expected to fully recover pre-pandemic levels in 2024, with initial estimates pointing to 2.0 percent growth above 2019 levels," the Madrid-based agency said in a statement. Figures for last year showed that 1.3 billion tourists travelled abroad, 44 percent higher than in 2022 and 88 percent of...

In its own statement, the US military's Central Command, which is responsible for the Middle East, said the Houthis on Thursday night "launched two anti-ship ballistic missiles at M/V Chem Ranger, a Marshall Island-flagged, US-Owned, Greek-operated tanker".

Davos, Switzerland - The United States wants a "de-escalation" in the Middle East despite its strikes on Houthi positions in Yemen, National Security Advisor Jake Sullivan said on Tuesday. "We seek to stop the spread of conflict and to create the conditions for de-escalation," Sullivan said at the World Economic Forum...

While inflation is on a general downward path, there is a worry that it could pop back up anytime, particularly with tensions in the oil-rich Middle East showing no sign of calming.

Bringing food and supplies to the besieged population of Gaza, which is increasingly at risk of famine, also depends on the opening of new entry routes into the territory, the World Food Program (WFP), UNICEF and the World Health Organization (WHO) said in a joint statement.

"This is in the service of humanity and in building an interconnected and innovative future in various fields, including public health, sustainability, energy, industry, and the economies of the future. This aligns with the ambitions and national priorities for research, development, and innovation declared by the Kingdom," he adds.

GAZA, PALESTINIAN TERRITORIES - Bombed-out neighborhoods, mass graves dug in the sand, spreading hunger and disease -- as the bloodiest ever Gaza war nears 100 days, besieged Palestinians have endured ever new horrors. More than three months of relentless Israeli bombardment since the October 7 Hamas attack have taken a...

Oman emerges top performer in the GCC region.

Dubai, UAE - Middle Eastern carriers recorded a 13.5% year-on-year increase in cargo volumes, strongest performance in the world. In November 2023, the air cargo was over 13.0%, a 15.4% rise compared to November 2022. The International Air Transport Association (IATA) released on Tuesday the data for November 2023 global air...

Paris, France - US Secretary of State Antony Blinken, Israeli President Isaac Herzog and Middle East leaders will attend a World Economic Forum in Davos next week dominated by the war in Gaza, the WEF said Tuesday. Argentina's libertarian new president, Javier Milei, French President Emmanuel Macron and Chinese Premier Li...

Wall Street indices enjoyed solid gains, including the Dow, which mustered a 0.6 percent advance in spite of an eight percent dive in Boeing shares after an emergency landing on an Alaska Airlines aircraft revived safety worries. "We basically are having a little bit of a bargain hunting today," economist...