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
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.
Economy
‘UAE outpaces major nations in human development’
“These efforts ensure sustainable development across all sectors, promising a bright future for generations to come,” he adds, referring to...
- UAE leads the region with significant improvement in education, health, and economy.
- The country climbs nine places in Human Development Index, ranking 17th worldwide.
Geostrategy
Dubai approves rise in energy, water efficiency programs
DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st...
- The Council reviewed updates of the demand side management strategy for 2030 and 2050.
- This is part of the efforts to make Dubai a leading example in efficient energy and water demand management.
Economy
Middle East leads way in global methane mitigation
The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....
- The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming. say an IEA report.
- With Saudi Arabia and UAE leading by example through low emissions intensities , the region is setting new benchmarks in environmental stewardship.
Business
Non-oil trade between UAE and US hits $31.4 billion in 2023
Abu Dhabi, UAE -- Non-oil trade between the UAE and the United States reached $31.4 billion in 2023 and is...
- Danny E. Sebright, President of the US-UAE Business Council, said that US exports to the UAE reached $24.8 billion last year, exceeding 2022 exports of $20.8 billion by 19 percent.
- He highlighted that US exports to the UAE support 125,000 jobs in the US, while UAE exports to the US totaled $6.6 billion last year.
Geostrategy
UAE rises to seventh rank globally in UN gender balance index
Dubai, UAE -- The UAE advanced to the seventh rank globally in the Gender Inequality Index 2024, issued by the...
- The UAE rose from its 49th place in 2015 and 11th place in 2022 from Gender Inequality Index 2024 by the UNDP.
- The UNDP announced UAE's achievement during the meetings of the 68th session of the Commission on the Status of Women, being held until 22 March in New York.
Geostrategy
GCC seeks travel ease with Schengen visa exemption
GCC Secretary General Jasem Albudaiwi calls for visa-free travel to Europe, aiming to simplify the journey for Gulf citizens to...
- GCC Secretary General Jasem Albudaiwi is advocating for visa-free travel to Europe, aiming to simplify the journey for Gulf citizens to the continent.
- With plans for a Unified Tourist Visa and streamline travel safety measures, the GCC is paving the way for a more interconnected and accessible world.
Geostrategy
‘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...
- A concerted international effort is underway to open humanitarian corridors to Gaza, with a focus on a maritime corridor for urgent aid delivery.
- The 'Amalthea' initiative, aiming to safely ship aid from Cyprus to Gaza by sea, marks a critical step in international efforts to alleviate the crisis.
Business
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...
- PIF's assets rose by $163.6 billion, compared to $776.7 billion at the end of December 2023, according to the latest data from the SWF Institute, Argaam reported.
- Norway’s Government Pension Fund Global ranked first with $1.64 trillion assets, followed by China Investment Corp.
Geostrategy
‘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...
- UAE rejects Israel's collective punishment policies against Palestinians.
- The Gulf country calls for a truce and establishment of a Palestinian state.
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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
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TAQA Q1 net income $571m
Business
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
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...
Business
Most Read
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.