G7 ministers consider oil reserves as markets face volatility
In a statement following a virtual meeting with International Energy Agency (IEA) Executive Director Fatih Birol, the ministers said they...
Geostrategy
Business
GCC feeds growing appetite for catering services
Rising disposable incomes, demand from businesses and events, online food delivery services, and increased tourism are driving the growth of...
- Rising disposable incomes, demand from businesses and events, online food delivery services, and increased tourism are driving the growth of Gulf catering services market
- Saudi Arabia leads the market, while the UAE is showing the fastest growth as major tech companies like Google and Microsoft are investing heavily in the sector
Geostrategy
Iran, Saudi Arabia, UAE, Iraq, other regional powers plan naval coalition
Iranian Navy Commander Rear Admiral Shahram Irani has declared the formation of a new naval coalition. This alliance, encompassing regional...
- The move reflects the region's understanding of the need for synergy and cooperation in establishing security
- Iran, Russia, and China's annual naval exercises pointed to as a model for this regional coalition
Human fraternity, climate change among top priorities for UAE as president of UNSC
The UAE will host three high-level Council meetings in June, aiming to promote interfaith dialogue, address climate change impacts on...
- The UAE will host three high-level Council meetings in June, aiming to promote interfaith dialogue, address climate change impacts on worldwide conflicts
- The UAE also seeks to host a high-level briefing on cooperation between the UN and the League of Arab States will take place on June 8
More GCC newspapers cease weekend publishing
Major GCC newspapers -- including Khaleej Times and Gulf News -- have ceased weekend editions due to financial pressure and...
- Major GCC newspapers -- including Khaleej Times and Gulf News -- have ceased weekend editions due to financial pressure and declining readership.
- The move has drawn mixed reactions, with some appreciating the step towards digital adaptation and others worrying about the potential impact on journalism quality
Business
Innovative financing solutions attract firms to UAE
"Everybody sees this as an opportunity to bring their businesses here. Accessing capital can be challenging, but fortunately the government...
- Raja Al Mazrouei, CEO of Etihad Credit Insurance, asserts that financing solutions are driving manufacturing growth in the UAE and luring external entities
- The ECI CEO, however, acknowledges the challenges in capital access but praised the UAE government's provisions such as subsidies, financing, and guarantees
Economy
‘UAE rising as a key player in global hospitality’
“Cities such as Dubai and Abu Dhabi have rapidly established themselves as the hospitality destination of choice for business and...
- UAE's innovative adaptability attracts significant influx of international tourists, says Siegfried Nierhaus, Vice President Middle East, Deutsche Hospitality
- Dubai and Abu Dhabi have established themselves as top hospitality destinations for business and leisure. Hotel room occupancy may exceed expectations in 2023, he adds
Arts & Culture
‘UAE is laboratory of past, present and future’
"Aside from the obvious things - the construction of museums and large collections - it seems to me that the...
- La Biennale di Venezia president, Roberto Cicutto, commends the UAE's dedication to cultural development and youth education
- On UAE Pavilion's "Aridly Abundant" theme, he says it aligns with the Venice Biennale's focus on addressing environmental challenges
Science
Saudi astronaut concludes pioneering space research
The experiments by Barnawi, focused on understanding the behavior of immune cells in space, could lead to the prevention and...
- The experiments, focused on understanding the behavior of immune cells in space, could lead to the prevention and early treatment of certain diseases
- The latest initiatives reflect the Kingdom's commitment to space exploration and investment in STEM, aligning with Saudi Vision 2030
Economy
World needs tangible climate solutions: Al Mubarak
More than 1,000 private sector executives and members of the Dubai Chamber had joined the path towards reducing global emissions...
- Over 1,000 private sector executives and Dubai Chamber members commit to halving global emissions by 2030, aiming for zero emissions by 2050
- UAE continues to enhance its environmental prosperity, with an emphasis on protected areas, sustainable agriculture, and nature-based solutions
Business
OAPEC needs to align with global counterparts
The cooperation of all parties will achieve the best-desired results and goals for which it was established, he adds during...
- OAPEC Secretary General, Jamal Al-Loughani emphasizes the need for the organization to align with international counterparts
- He also warns of the impact of global developments on the oil sector growth, including rising inflation and Russia-Ukraine conflict
Company News
BGN to get $100m in financing
Business
Latest News
RAK cultivates communities with arts and culture
Arts & Culture
‘Multilateral approach needed to address Gaza crisis’
The 'Amalthea' initiative, recently announced by Cyprus, is crucial for the efforts to launch the maritime corridor and the UAE...
Geostrategy
PIF fifth largest sovereign wealth fund as assets rise to $940.3bn
Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF) rose to the fifth position among...
Business
‘UAE leads humanitarian efforts in Gaza, seeks truce’
“Following the outbreak of the crisis between Palestinians and Israelis, the UAE initiated extensive diplomatic efforts at all levels to...
Geostrategy
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Business
Salik revenue soars to US$574m
Toll usage revenue rose 11.7% YoY to US$502million.
- The total number of trips made through Salik’s eight toll gates grew by 10 percent over the course of the year.
- Salik’s registered active accounts increased 16.0 percent YoY to approximately 2.4 million at the end of 2023.
Economy
UAE sets innovative media policy to propel the country onto global stage
DUBAI – Sheikh Abdulla bin Mohammed Al Hamed, Chairman of the UAE Media Council (UAEMC), has approved a comprehensive legislative...
- The roadmap emphasizes the importance of aligning national efforts and creating partnerships to boost the UAE’s media sector.
- It aims to develop a media industry that embraces global cultures, driven by innovation and youth leadership.
Geostrategy
Investment Facilitation for Development pact finalized at Abu Dhabi WTO meet
Abu Dhabi, UAE -- Ministers representing 123 World Trade Organisation (WTO) members have finalized the Investment Facilitation for Development (IFD)...
- The ministers also urged the 13th WTO Ministerial Conference (MC13) to incorporate the IFD Agreement into Annex 4 of the Marrakesh Agreement Establishing the WTO.
- Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, said the IFD Agreement is the result of more than six years of work, dedication and vision of more than 120 members.