Israel blocks humanitarian aid to Gaza as ceasefire’s first phase ends, sparking global outrage
Truce mediators Egypt and Qatar accused Israel of blatantly violating the ceasefire deal by halting the aid, a move left trucks...
Geostrategy
Microsoft retires Skype, the online voice and video call pioneer
San Francisco, United States - Microsoft on Friday announced it was retiring Skype, the online voice and video call pioneer...
Science
Economy
Fitch credit downgrade upsets US Treasury Secretary, shakes markets
Markets slid on Thursday as traders shifted to safer assets after Fitch downgraded the United States' credit rating from AAA...
- The primary catalyst behind this historic downgrade is the steady erosion of governance standards over the last two decades
- The downgrade comes on the heels of a significant bipartisan agreement reached in June to suspend the debt limit until January 2025.
Business
DUBAL, Oriental Copper ink MoU
JV will manufacture high-quality copper products in UAE.
- As per the agreement, DUBAL Holding will assist with local resources and be a co-investor.
- Oriental Copper will contribute its extensive technical, operational, and market expertise.
Business
Saudi, Brazil companies partner for collaboration in water desalination
Sao Paulo, Brazil - Saudi Arabia's Saline Water Conversion Corporation (SWCC) has signed a memorandum of understanding (MoU) with the...
- The agreement provides opportunities for localization and content enrichment in electrical engineering
- It also focuses on developing and enhancing the efficiency of various electrical systems
Student enrolments in GCC to grow by 1.1m in 5 years
Saudi Arabia is expected to lead the growth, with a CAGR of 1.6 percent, while Kuwait and the UAE are...
- Saudi Arabia is expected to lead the growth, with a CAGR of 1.6 percent, while Kuwait and the UAE are projected to experience faster growth rates compared to other member nations
- The demand for schools in the GCC is estimated to rise with a CAGR of 0.7 percent, resulting in an addition of approximately 1,127 schools by 2027, reaching 35,208 schools by 2027
ADQ, IHC Capital to form a new entity called Q Holding
Abu Dhabi, UAE - ADQ and IHC Capital Holding are joining forces to bring together ADQ's ownership of Abu Dhabi...
- The proposed transaction would create one of the region's largest real estate, hospitality, events, and catering platforms
- The combined group would have an implied market capitalization of approximately approximately US$12 billion
Middle East release of ‘Barbie’ delayed, may be banned in Saudi Arabia
Dubai, UAE - Vox Cinemas, the prominent Middle East exhibitor partnering with Warner Bros. for distribution, has decided to postpone...
- The film's bold portrayal of the iconic Western doll has sparked controversy within the Arab world
- Historical bans on earlier "Barbie" movies in Saudi Arabia were linked to depictions of women in non-traditional gender roles
Business
QFBA, Education Above All unite to offer scholarships for underprivileged students
Doha, Qatar - Qatar Finance and Business Academy (QFBA) has signed a cooperation agreement with Education Above All Foundation to...
- The agreement is also part of the effort to provide 500 scholarships in Qatar through collaboration with Qatar's General Awqaf Authority
- Founded in 2009, Qatar Finance and Business Academy specializes in providing training and professional development programs for the financial sector in Qatar
Business
ADNOC, Occidental partner to invest in carbon management projects in UAE, US
Abu Dhabi, UAE - ADNOC and Occidental on Tuesday signed a strategic collaboration agreement (SCA) to evaluate potential investment opportunities...
- The agreement is enabled by the UAE-US Partnership for Accelerating Clean Energy (PACE), which was launched in November 2022
- The partnership will catalyse $100 billion (AED367 billion) investment in clean energy and carbon management projects
Business
Bupa Arabia H1 2023 net profit $149m
Rise was driven by a jump in insurance revenue.
- The corresponding figure in the same period last year - H1 2022- was US$79.8 million.
- The company reported a jump of US$74.9 million YoY in insurance services results.
Business
Arabian Drilling secures 10 new land rig contracts from Aramco
Al-Khobar, Saudi Arabia – Arabian Drilling Company, one of the largest national onshore and offshore drilling contractor in Saudi Arabia,...
- All ten land rigs are new-builds to be added to the company’s current fleet of 38 units
- The ten contracts are for additional land rigs assigned to Aramco’s Unconventional Program
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
Israel blocks humanitarian aid to Gaza as ceasefire’s first phase ends, sparking global outrage
Truce mediators Egypt and Qatar accused Israel of blatantly violating the ceasefire deal by halting the aid, a move left trucks...
Geostrategy
Company News
Latest News
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
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%...
Business
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,...
Arts & Culture
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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.
Over 6m worshippers perform prayers at Prophet’s mosque last week
Madinah, Saudi Arabia -- Saudi General Authority for the Care of the Affairs of the Grand Mosque and the Prophet's...
- The statistics showed that 647,790 visited the Prophet Mohammed's tomb, and 298,397 visitors performed prayers at Al-Rawdah Al-Sharifa
- More than 160,000 bottles of Zamzam water were provided, and 142,007 Iftar meals were distributed in corridors of the mosque
Economy
UAE allocates $5m to WTO’s Women Exporters In Digital Economy Fund
Dubai, UAE – United Arab Emirates on Sunday allocated $5 million to a $50 million fund launched Sunday ahead of...
- The alloocation was announced by the UAE minister Dr Thani bin Ahmed Al Zeyoudi, Chair of the 13th WTO Ministerial Conference 2024, which begins in Dubai today
- The new fund aims to unlock the power of the digital economy, helping women exporters overcome financing hurdles and capture untapped opportunities