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....
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...
Business
Geostrategy
Syria, Ukraine join as Arab League Summit kicks off
Syrian President Bashar al-Assad returns to Arab League Summit, which confronts conflicts across the Middle East and beyond, including the...
- Syrian President Bashar al-Assad returns to Arab League Summit, which confronts conflicts across the Middle East and beyond, including the war in Ukraine.
- Ukrainian President Volodymyr Zelensky meets Saudi Crown Prince Mohammed bin Salman and thanks him for backing Ukraine's sovereignty ahead of the summit
Business
OPEC-China alliance key to global oil market stability
A pragmatic framework for cooperation has been established between the two entities, fostering an ongoing exchange of views on mutual...
- OPEC Secretary-General Haitham Al Ghais emphasizes the importance of the dialogue partnership with China, with a plan to reinforce and strengthen it
- A balanced framework for cooperation between OPEC and China has been established, facilitating an ongoing exchange of views on mutual energy issues, he says
Business
9% corporate tax takes effect in UAE from June 1
The move aims to foster compliance and business activity, with special exemptions for Free Zone transactions and small enterprises.
- Individuals can now be classified as a business if their income stream surpasses a specified amount, or if their held assets exceed a certain value
- UAE employees drawing income from a singular source or salary payment need not be concerned, as salaries will continue to remain exempt from income tax
Economy
Strong non-oil sector growth to push UAE real GDP up 2.8% in 2023: WB
The Emirates' non-oil sector is projected to grow by 4.8 percent, driven by robust domestic demand, particularly in tourism, real...
- The economies of the Gulf Cooperation Council (GCC) are projected to grow by 2.5 percent in 2023 and 3.2 percent in 2024.
- A report released by the bank also said that the direct medical costs of seven major non-communicable diseases in GCC region was around $16.7 billion in 2019 alone.
Economy
Strong economy, HNWIs help GCC luxury market thrive
TRENDS explores how the growing number of high net worth individuals (HNWIs) in the GCC region is boosting demand for...
- GCC economies witness significant growth driven by robust oil production and exports
- Increased affluence in the region fuels a continuous rise in luxury product spending
Economy
Strong economy, HNWIs help GCC luxury market thrive
TRENDS explores how the growing number of high net worth individuals (HNWIs) in the GCC region is boosting demand for...
Business
Strong fraud detection boosts security of UAE banks
"The UAE is well positioned to further strengthen its leadership in combating fraud, with continued investment in technology, training and...
- The UAE's focus on digital transformation and innovation enhances fraud detection and control capabilities, says Jamal Saleh, Director General of UAE Banks Federation
- Tasharuk platform plays a crucial role in detecting cyber risks while continued investment in technology and collaboration strengthens UAE's banking system, he adds
Arts & Culture
Sheikh Khalifa: A legacy of progress and empowerment
He continued his predecessor's remarkable legacy until his own passing on May 13, 2022. Under his leadership, the UAE flourished,...
- Under Sheikh Khalifa's leadership, the UAE fortified its prominent stature and assumed a leading regional and global role by fostering deep-rooted relations with numerous countries
- To secure prosperous future, Sheikh Khalifa initiated an era of empowerment by implementing long-term national strategies, initiatives, and plans including the Principles of the 50
Business
France-UAE ties get robust as non-oil trade soars
Baroux also commends the UAE as the most promising market for French exports in the region, with over 600 French...
- Non-oil trade between France and the UAE rose to €7.318 billion in 2022, representing a 21% increase from the previous year
- The surge in trade signifies a significant 16.8 percent growth in bilateral economic relations between the two countries
Economy
Technology helps accelerate industrial decarbonization
There are three main pillars to this approach: transforming existing industries with advanced technologies, creating the green industries of the...
- Digitalization plays a key role in making existing industries more sustainable, driving low-carbon production and decarbonization throughout value chains
- R&D is vital for advancing technologies in green industries, with the UAE committed to increasing spending to further develop and deploy green innovations
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....
Business
Company News
Latest News
Water stress levels vary in Arab countries
Infographics
UNSC approves aid resolution as Gaza crisis mounts
As fighting between Israel and Hamas intensifies, the UN Security Council has passed a resolution to enhance aid to Gaza,...
Geostrategy
UNCTAD eWeek focuses on AI risks, e-commerce growth in developing countries
At UNCTAD eWeek 2023, experts stress the importance of aligning AI development with Sustainable Development Goals to mitigate risks and...
UAE leads humanitarian efforts in Gaza, seeks truce
"The Gulf country will continue its efforts to achieve peace through tangible steps and a roadmap for a two-state solution....
Geostrategy
Most Read
YEARENDER
GCC soars in global space race with key advancements
Saudi Arabia's new Saudi Space Agency and first ISS mission, coupled with UAE's Hope Probe and lunar projects, underscore their...
- Saudi Arabia's new Saudi Space Agency and first ISS mission, coupled with UAE's Hope Probe and lunar projects, underscore their rising status in global space sector.
- Bahrain's development of its first satellite and Kuwait's CubeSat initiative underscore the Gulf region's commitment to space technology and research.
Economy
Palestine sees 3.7% economic shrink amid conflict
The World Bank reports a severe economic downturn in Palestinian economy due to Israel-Hamas conflict, with Gaza's economic contribution falling...
- The World Bank reports a severe economic downturn in Palestinian economy due to Israel-Hamas conflict, with Gaza's economic contribution falling from 36% to 17% since 2005.
- Despite the conflict in Gaza causing job losses, infrastructure damage, and rising poverty, the Palestinian banking sector has shown resilience amidst the ongoing crisis, it adds.
COP28 UAE
World unites at COP28 to shift away from fossil fuels
Nearly 200 nations in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step...
- Nearly 200 countries in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step in addressing climate change.
- EU climate chief Wopke Hoekstra lauds the historic deal targeting a 43% reduction in emissions by 2030 as a significant breakthrough after decades of discussions.