Dubai real estate sets all-time record in 2024
Dubai’s real estate market has had a record-breaking year, with new milestones being set throughout 2024, culminated in an all-time...
China launches late stimulus push to meet 2024 growth target
China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch...
Economy
Economy
Asia markets mixed as investors assess China inflation data
Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reportedChina’s consumer price index climbed 0.3%...
- China’s consumer price index climbed 0.3% year on year
- Japan’s first-quarter GDP expected to have contracted an annualized 1.5%
Geostrategy
Forty-day ceasefire offered to Hamas: UK foreign secretary
US Secretary of State Antony Blinken renewed US opposition to an Israeli offensive on Gaza's southernmost city of Rafah. "We...
- British Foreign Secretary David Cameron said Hamas has also been offered the release of potentially thousands of Palestinians in return for the release of Israeli hostages
- Speaking at the World Economic Forum (WEF) in the Saudi capital Riyadh, Palestinian President Mahmud Abbas urged the US to intervene.
Business
Meet Middle East tourism’s power players
Tourism industry accounts for 9 percent of GCC region's GDP and it is expected to grow annually at 7.7 percent....
- The region’s largest economy, Saudi Arabia, won encomiums for the "remarkable achievement" of receiving over 100 million tourists in 2023.
- Motivated by this success, the Kingdom has now set a new ambitious target of welcoming 150 million tourists by 2030.
Business
Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
- Jordan’s pharmaceutical and medical supplies sector has succeeded in transforming into a global industry.
- The pharmaceutical and medical supplies sector employ approximately 10,000 workers.
Geostrategy
GCC unveils strategic vision for regional stability
For the first time in its 43-year history, the bloc has set a strategic vision that prioritizes diplomacy and dialogue...
- For the first time in its 43-year history, the bloc has set a strategic vision that prioritizes diplomacy and dialogue over force to boost regional security and stability.
- This landmark initiative marks a significant departure from previous strategies, setting a new precedent for peaceful dispute resolution and cooperation in the region.
Economy
Dubai’s media revamp key to navigate new horizons
"There is a need to double efforts to develop a comprehensive blueprint outlining necessary policies to drive the media sector...
- Sheikh Ahmed bin Mohammed emphasizes the need for an immediate overhaul in Dubai's media sector.
- Proactive steps aim to align Dubai's media with international best practices and ethical standards, he adds.
Business
RSG, Hyundai Motor ink pact
The two firms will explore opportunities in various areas.
- The two parties will focus on validating and deploying Hyundai Motor Group's eco-friendly mobility solutions.
- They will explore future mobility solutions, such as autonomous vehicles, Advanced Air Mobility and maritime vessels.
Business
Feeding fit: Saudi Arabia redefines the poultry sector
In February 2024, Saudi Arabia's poultry industry reached a milestone by producing 100 million kilograms of poultry, thereby setting new...
- In February 2024, Saudi Arabia's poultry industry reached a milestone by producing 100 million kilograms of poultry, thereby setting new benchmarks in the global market.
- This underscores the Kingdom's strategic push towards agricultural innovation, economic diversification, and food security, aligning with the ambitious Vision 2030.
Geostrategy
‘UAE strengthens Gaza support with humanitarian aid’
“The activation of the maritime corridor is crucial. It will serve as an essential lifeline for the people of Gaza,...
- UAE reaffirms solidarity with Gaza, launching significant humanitarian initiatives under Sheikh Mohamed bin Zayed Al Nahyan's leadership.
- UAE's comprehensive humanitarian mission includes over 25,000 tons of aid, medical treatment for wounded children and cancer patients.
Economy
Saudi Arabia set to leap into space tourism by 2026
Madrid-based Halo Space Company has selected Saudi Arabia as its launch site for space tourism, offering tours at $164,000 per...
- Madrid-based Halo Space Company selects Saudi Arabia as its launch site for space tourism, offering tours at $164,000 per person for a stratospheric Earth view.
- In June, a trial flight will take passengers 32 kilometers above Earth, using a helium balloon for an accessible adventure without the need for special training.
Dubai real estate sets all-time record in 2024
Dubai’s real estate market has had a record-breaking year, with new milestones being set throughout 2024, culminated in an all-time...
Company News
Latest News
Chinese EV company Xpeng shares up 6% post mass-market car launch
Xpeng shares rose after the Chinese electric car company launched its new mass-market Mona brand on Tuesday with prices starting...
Asia-Pacific markets mixed, dollar down Monday as Fed readies to acknowledge cuts
Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a...
Economy
US Department of State issues favorable 2024 Bahrain Investment Climate Statement
The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a...
Economy
Most Read
Business
OpenAI reveals new GPT-4o model that is faster and free for all users
OpenAI on Monday launched a new AI model and desktop version of ChatGPT, along with an updated user interface, the...
- OpenAI, backed by Microsoft, has been valued at more than $80 billion by investors
- The new model can respond to users’ audio prompts “in as little as 232 milliseconds
Economy
Asia markets mixed as investors assess China inflation data
Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reportedChina’s consumer price index climbed 0.3%...
- China’s consumer price index climbed 0.3% year on year
- Japan’s first-quarter GDP expected to have contracted an annualized 1.5%
Geostrategy
Forty-day ceasefire offered to Hamas: UK foreign secretary
US Secretary of State Antony Blinken renewed US opposition to an Israeli offensive on Gaza's southernmost city of Rafah. "We...
- British Foreign Secretary David Cameron said Hamas has also been offered the release of potentially thousands of Palestinians in return for the release of Israeli hostages
- Speaking at the World Economic Forum (WEF) in the Saudi capital Riyadh, Palestinian President Mahmud Abbas urged the US to intervene.