Israel endorses plan to extend Gaza truce as first phase draws to close, Hamas wants permanent peace
The first phase of a ceasefire deal between Israel and Palestinian militant group Hamas was set to expire over the...
Geostrategy
Economy
Russia’s BSGI exit causes global food price hike: Blinken
Washington, United States - Russia's withdrawal from the Black Sea Grain Initiative (BSGI) has led to a surge in global...
- Top US diplomat highlighted that over half of the grain from the Black Sea Grain Initiative was directed towards developing countries
- Condemning the use of food as a weapon of war, he said that 91 countries have signed a declaration at the UN opposing such tactics
Business
Dubai Chamber of Commerce reports 43% increase in member firms
Dubai, UAE - The Dubai Chamber of Commerce reported a 43 percent increase in new member companies, reaching a total...
- The total value of exports and re-exports from member companies also saw a 7% increase, reaching AED 137.6 billion ($37.46bn).
- The chamber also reported a significant increase in the value of goods and commodities, with a growth of more than 108 percent.
Business
PIF sets up SRJ Sports Investments firm
The investments are expected to localize partnerships.
- The new company will target businesses specialized in offering unique fan engagement activities and transformative sports technology.
- This firm will help bolster Saudi Arabia’s position as one of the world’s leading sports and entertainment destinations.
Economy
UAE Corporate Tax: Relief measures for SMEs
Abu Dhabi, UAE - The UAE has unveiled a series of relief measures to support the growth and prosperity of...
- Only profits exceeding AED 375,000 are subject to the 9% corporate tax
- Only 50% of entertainment expenses are deductible against taxable profits
Geostrategy
UAE president Sheikh Mohamed holds talks with El Sisi in Egypt
El Alamein, Egypt - The UAE President Sheikh Mohamed bin Zayed Al Nahyan held talks with his Egyptian counterpart, President...
- Both leaders stressed the significance of collective Arab action to promote peace, stability, and development within the region
- Egyptian president El Sisi's visit to Abu Dhabi in February underlined the reciprocal nature of these diplomatic efforts
Economy
UAE to mobilize global tech, space sectors for climate action ahead of COP28
ABU DHABI, UAE - Key UAE government entities have partnered to boost coordination between advanced technology and space sectors. The...
- The collaboration aims to further contribute to COP28’s inclusive ecosystem, bringing together major technology companies, global institutions.
- It will encourage companies to use the UAE as a base for producing new technologies that can help drive sustainable industrial development.
Geostrategy
Nearly 14m children in Sudan need aid, says UNICEF
NEW YORK, US - Two senior UN humanitarian officials have called for more funding and fewer bureaucratic impediments to support...
- The crisis in Sudan recently passed the 100-day mark and overall, 24 million people across the country require aid.
- Chad is one of several neighboring nations hosting some 900,000 people who fled the violence in Sudan.
Geostrategy
Erdogan announces Putin visit to Turkiye in August
Ankara, Turkiye - Turkish President Recep Tayyip Erdogan on Friday announced that his Russian counterpart Vladimir Putin would visit Ankara...
- Turkish president's remarks followed his Wednesday phone call with Putin, in which they agreed Putin would visit to Turkiye in the coming days
- Erdogan told Putin that Turkiye will continue its "intense" efforts and diplomacy for resumption of the Black Sea grain deal
Business
‘Barbie’ set to screen in UAE theaters on August 10
Dubai, UAE - The highly anticipated 'Barbie' movie is all set to grace the big screens in the UAE on...
- Local theaters, including VOX Cinemas, Reel Cinemas, and Roxy Cinemas, have already opened pre-orders for eager viewers
- The UAE, consistent with its practice along with other GCC countries, ensures that movies adhere to strict cultural norms before granting screening rights
Arab, Islamic universities urged to collaborate on East-West bridge building effort
Makkah, Saudi Arabia - A scientific forum organized by Arab and Islamic universities’ associations has recommended the formation of a...
- The forum has urged Arab and Islamic universities to form working groups of scholars in different universities and media and cultural institutions
- The forum also called for adopting new ideas to enrich dialogue and enhance inter-civilizational dialogue and humanitarian communication
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Israel endorses plan to extend Gaza truce as first phase draws to close, Hamas wants permanent peace
The first phase of a ceasefire deal between Israel and Palestinian militant group Hamas was set to expire over the...
Geostrategy
Company News
Latest News
UAE announces US$2,722 penalty for late corporate tax registration
ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024...
Business
France says ‘nothing ruled out’ to thwart Russia in Ukraine
French Prime Minister Gabriel Attal told the RTL broadcaster that there was "no consensus" on any "official" deployment of ground...
Geostrategy
Most Read
Arts & Culture
Red Sea Global releases ‘Red Sea Waves,’ its first music album
Riyadh, Saudi Arabia - Red Sea Global (RSG), the developer behind The Red Sea and Amaala, the Saudi tourism destinations,...
- The album is the result of collaboration between Saudi, Egyptian, Sudanese, Somali, and other artists
- The album features 12 tracks, each of which is characterized by a different genre and origin
Business
EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn
ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and...
- EDB’s flexible financing solutions and patient debt approach have significantly bolstered industrial growth.
- EDB has approved $353 million in financing under the Credit Guarantee Scheme with partner banks in UAE.
Business
Goldman Sachs, Mubadala ink pact
The two firms have signed a $1 billion private credit deal.
- The partnership will be managed by Private Credit at Goldman Sachs Alternatives, with a dedicated team across multiple Asia Pacific markets.
- This mandate will enable both firms to continue scaling their investment activity in the large and growing Asia Pacific credit market.