Netanyahu thanks Trump for weapons to ‘finish the job’ against Iran axis
Jerusalem, Undefined - Israeli Prime Minister Benjamin Netanyahu on Sunday thanked US President Donald Trump for sending munitions held up...
Geostrategy
Trump and Zelensky clash in heated Oval Office meeting over Ukraine peace deal
During a tense meeting at the White House, Trump and Zelensky argued over the war with Russia, with Trump accusing...
Geostrategy
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
Business
ADNOC Distribution profit rises 2%
The Company’s non-fuel retail business rose by over 12%.
- The company's growth in total fuel volumes in the UAE and Saudi Arabia, witnessed a 9% rise in H1 2023 compared to H1 2022
- The Company’s non-fuel retail business rose by more than 12% year-on-year primarily driven by a 14% increase in transactions
Business
Burjeel Holdings H1 net profit $61m
Firm's EBITDA rose 12.7% y-o-y to $127 million in H1 2023.
- Burjeel Holding reported revenue of US$599 million, up 13.9 percent y-o-y during H1 2023.
- The net profit was attributable to robust topline growth and significantly lower finance costs.
Economy
Central Bank of Egypt raises interest rate to 100 bps to combat inflation
Cairo, Egypt – In a surprising move, the Central Bank of Egypt (CBE) announced on Thursday that it has raised...
- The lending rate was increased to 20.25 percent, and the deposit rate to 19.25 percent
- The decision marks the second interest rate hike in Egypt this year, following a 2 percent rise in late March
Business
Estithmar H1 profit rises 3.7%
The Earnings per Share amounted to QR 0.059.
- The Earnings per Share stood at QAR 0.059, marking a slight decline from the EPS of QAR 0.065 for the corresponding period in 2022
- The company has a portfolio spanning 51 companies operating across five strategic sectors comprising healthcare, services, ventures, contracting, and industries
Business
Abu Dhabi International Airport sees 67% surge in H1 passenger traffic
Abu Dhabi, UAE - Abu Dhabi International Airport (ADIA) registers an increase of 67 percent in passenger traffic with 10,258,653...
- The airport also recorded 67,835 flights, a rise of 36 percent compared to 49,919 flights during H1 2022
- The destination with the highest passenger traffic served by the airport during the period was Mumbai
Economy
Saudi Arabia posts budget deficit of US$1.41 billion in Q2 2023
RIYADH, SAUDI ARABIA - Saudi Arabia posted a budget deficit of SAR5.3 billion ($1.41 billion) in the second quarter of...
- Saudi Arabia, the world’s top oil exporter, recorded a budget surplus of almost $30 billion in 2022.
- Total revenues in Q2 stood at US$84 billion, down 15 percent from the same period last year.
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
Netanyahu thanks Trump for weapons to ‘finish the job’ against Iran axis
Jerusalem, Undefined - Israeli Prime Minister Benjamin Netanyahu on Sunday thanked US President Donald Trump for sending munitions held up...
Geostrategy
Company News
Latest News
Zelenskyy in Saudi Arabia to discuss war; meets Mohammed bin Salman
RIYADH, SAUDI ARABIA - President of Ukraine Volodymyr Zelenskyy and his accompanying delegation arrived here on Tuesday. The Ukrainian President...
Geostrategy
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
Most Read
Business
Middle East and Africa smartphone shipments surge 30% YoY in Q4 2023
Dubai, Riyadh - Smartphone shipments in the Middle East and Africa (MEA) region witnessed a remarkable surge, growing by 30%...
- For the entire year of 2023, smartphone shipments in the MEA region increased by 11% YoY, reflecting an upward trend in consumer sentiment
- The MEA region demonstrated the highest YoY growth globally during this period, attributed to improved economic conditions and rebounding consumer demand
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.