Trump orders pause to Ukraine aid: White House official
President Donald Trump suspended military aid to Ukraine on Monday, a US official told AFP, sharply escalating pressure on Kyiv...
Geostrategy
Wild AI, a royal letter and big hugs – a week in Trumpworld
Washington, United States - President Donald Trump closed out a packed week at the White House after hosting a string...
Arts & Culture
Geostrategy
Pakistan’s Prime Minister, Saudi Deputy Foreign Minister discuss ties
Islamabad, Pakistan - Pakistan's Prime Minister Shehbaz Sharif met on Tuesday with visiting Saudi Deputy Foreign Minister Waleed bin Abdulkarim...
- Al-Khuraiji also met with the country’s Foreign Minister Hina Rabbani Khar
- In July, Pakistan received $2 billion in financial support from Saudi Arabia
Sharjah Business Women Council connects 500+ women to UAE’s business ecosystem in H1 2023
Sharjah, UAE - It's been a busy start to the year for members of the Sharjah Business Women Council (SBWC),...
- Sharjah Business Women Council has a member community of 2,000+ business women and aspiring entrepreneurs
- The council has brought members closer to new prospects in fashion, F&B, perfumes, and other sectors
Economy
Residential prices, rents dip across Qatar as World Cup boost dissipates
Doha, Qatar - The residential property market in Qatar is grappling with a dual challenge of decreased demand and increased...
- Lusail's Waterfront and Fox Hills districts have experienced the highest quarterly depreciation in average quoted rents for apartments
- The office market in Qatar is grappling with a challenge of its own, with a widespread drop in average rental rates attributed to an oversupply of office space
Business
Qatar Central Bank foreign reserves surge by 14.3% in July
Doha, Qatar - The international reserves and foreign currency liquidity of Qatar Central Bank (QCB) surged last July to reach...
- Gold reserves rose to $6.07 billion in the month, reflecting an increase of about $1.34 billion compared to same period last year
- Balances held in foreign banks experienced a decline of $699 million, reaching $4.95 billion by the end of July
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.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Trump orders pause to Ukraine aid: White House official
President Donald Trump suspended military aid to Ukraine on Monday, a US official told AFP, sharply escalating pressure on Kyiv...
Geostrategy
Company News
Latest News
Abu Dhabi sees 67% annual rise in number of AI company registrations
Abu Dhabi, UAE - The number of AI companies registered in Abu Dhabi grew at a compound annual rate of...
Economy
IMF predicts soft landing for global economy, yet growth remains muted
Dubai, UAE - The International Monetary Fund (IMF) in a report has indicated that the global economy is on course...
Economy
Bitcoin surpasses $57,000 as crypto rally remains strong
Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market...
Business
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Business
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...
- A penalty of US$2,722 (AED10,000) will be imposed on businesses that do not submit their Corporate Tax registration applications on time.
- The penalty was implemented to prompt taxpayer compliance with laws through timely corporate tax registration.
Business
AI entity is Board Observer in IHC
IHC is a pioneer in leveraging AI for decision-making.
- Aiden Insight is a virtual entity endowed with sophisticated AI capabilities, and is set to revolutionise the way IHC handles the global investment landscape.
- This initiative by IHC is powered by AI capabilities of G42 in collaboration with Microsoft, setting a new benchmark for artificial intelligence development.
Geostrategy
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...
- Speaking a day after President Emmanuel Macron said that sending Western ground troops was not excluded, prime minister Attal said that "you can't rule anything out in a war."
- Macron, after hosting a meeting of two dozen European leaders to discuss Ukraine, on Monday painted a grim picture of a Russia whose positions he said were "hardening."