Trump doubles down on Gaza shock plan, says Israel will turn over the territory to US
Trump said that by the time of the handover, Palestinians "would have already been resettled in far safer and more...
Geostrategy
Geostrategy
Indian PM Modi arrives in UAE after his France visit
Dubai, UAE - India’s Prime Minister Narendra Modi arrived in Abu Dhabi today for the final leg of his two-nation...
- Indian PM is scheduled to meet with UAE President Sheikh Mohamed bin Zayed Al Nahyan and conduct a comprehensive review of the progress in bilateral relations
- The visit comes after his two-day visit to Paris, where Modi participated in the Bastille Day parade as the Guest of Honour alongside French President Emmanuel Macron
Business
Demand for Shariah-compliant financing in UAE grows 4.9% in 2022
Abu Dhabi, UAE - UAE Islamic banking sector assets witnessed steady growth in 2022, accounting for 23.0 percent of the...
- The UAE Islamic banking sector assets expanded 8.3 percent to $230.2 billion in 2022
- The UAE banking system comprises eight Islamic banks and 17 Islamic windows by conventional banks
Business
Saudi Arabia’s robotics commercial records rise by 52% in Q2
Riyadh, UAE - Commercial registrations in Saudi provinces for the robot technologies sector increased by 52 percent by the end...
- According to the Ministry of Commerce's recent business sector bulletin, Riyadh City topped Saudi provinces in the issuance of commercial registrations for the sector
- Robotics is one of the Kingdom’s promising sectors and is among the opportunities listed by Saudi Arabia’s Vision 2030 for the business sector
Economy
UAE one of fastest-growing economies in 2022: CBUAE
Abu Dhabi, UAE - The UAE’s real GDP growth accelerated during 2022 due to a robust recovery in non-oil GDP...
- The growth came despite higher inflation, tightening financial conditions and continued geopolitical tensions
- It was boosted by the removal of most COVID-19-related curbs and a recovery in global travel and the tourism
Economy
China’s trade in goods with Belt and Road countries up 9.8% in H1
Beijing, China - China's trade in goods with nations along the Belt and Road Initiative in the first half of...
- Trade in goods with countries along the Belt and Road accounted for 34.3 percent of China's total import and export value of $2,8 trillion
- The Belt and Road Initiative (BRI) is a global infrastructure development strategy adopted by the Chinese government in 2013
Economy
Qatar hosts over 2m visitors in first half of 2023
Doha, Qatar - Qatar Tourism said on Thursday that the country received more than two million visitors during the first...
- Saudi Arabia remain the top source market for international visitors this year, contributing to nearly a quarter of all arrivals
- May and June registered the highest figure - 567 thousand - ever recorded for these two months in the last ten years
Economy
UAE, French ministers review ties, economic cooperation
Abu Dhabi, UAE - The United Arab Emirates and France reviewed the prospects of growing bilateral trade exchanges and advancing...
- Two sides discussed investment exchanges in innovative startups, circular economy, tourism, technology, family businesses, renewable energy and agriculture
- The prospects of accelerating the existing partnership and economic cooperation between the two countries also featured high during the meeting
Business
OPEC anticipates 2.2% growth in oil demand in 2024
Vienna, Austria - OPEC Thursday predicted world oil demand to grow by a healthy 2.2 mb/d, to 104.25 mb/d in...
- In its Monthly Oil Market Report, the OPEC said the World GDP growth in 2024 is forecast at 2.5 percent, slightly below this year’s expected growth level of 2.6 percent
- The world economic growth in 2023 is to remain broadly unchanged at 2.6 percent, with the initial forecast for 2024 economic growth expected at 2.5 percent
Business
AI could unlock $23.5bn in annual economic growth across the GCC by 2030: study
Dubai, UAE - The GCC region could realize $9.9 of economic growth for every $1 invested in GenAI. At that...
- Saudi Arabia and the UAE are expected to experience the most substantial impact, with projected annual impacts of $12.2 billion and $5.3 billion, respectively
- Qatar, Kuwait, Oman, and Bahrain will also benefit, with estimated economic gains of $2.6 billion, $1.6 billion, $1.3 billion, and $0.6 billion, respectively.
India’s quandary in Gulf: How to maintain foothold as China steps into US breach
Dubai, UAE - Indian officials are concerned about China's growing influence in the Middle East and how it will impact...
- India until now has allowed it to maintain robust relations wit all three poles of power - Israel, Iran, and Saudi Arabia - while countering China's influence.
- New Delhi's strategy involves building new institutions, such as the I2U2 grouping, with a focus on geoeconomics and high technology.
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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
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Saudi stock market hits 12,500 points, highest since August 2020
Riyadh, Saudi Arabia - The Saudi Stock Market's general index (TASI) surged past the 12,500-point milestone on Sunday, reaching its...
35 Jordanian companies to participate in Gulfood 2024 in Dubai
AMMAN, JORDAN – A total of 35 Jordanian companies are taking part in Gulfood 2024, the world's largest annual food...
Business
Abu Dhabi Judicial Department’s Auction App generated $925m in property sales
Abu Dhabi, UAE - Since its launch in June 2022 through mid-February 2024, the Abu Dhabi Judicial Department's (ADJD) Auction...
Business
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Geostrategy
Hizbollah chief says Israel to pay ‘with blood’ for Lebanon civilians killed
Nasrallah said the killing of civilians was aimed at "putting pressure" on Hizbollah to stop attacks on Israel, but stressed...
- He warned that his movement has "precision-guided missiles that can reach... Eilat", on Israel's Red Sea coast, beyond the northern towns it usually targets in retaliatory strike
- Hamas ally Hizbollah and its arch-foe Israel have been exchanging near-daily fire across the border since the Israel-Hamas war broke out on October 7
Economy
Saudi Arabia ranks 1st in international tourist arrivals growth in 2023
Riyadh, Saudi Arabia - Saudi Arabia topped the UN Tourism’s ranking for the growth of international tourist arrivals in 2023...
- The kingdom recorded a remarkable tourism recovery rate of 156% in international tourist arrivals in 2023 compared to 2019, the report revealed
- Saudi Arabia set a record in international tourist receipts, with total spending exceeding SAR 100 billion ($27 billion) for the first three quarters of 2023
Geostrategy
Iran, Armenia eye $3 billion bilateral trade volume
Tehran, Iran – Deputy Prime Minister of Armenia Mher Grigoryan on Thursday said that Iran and Armenia have the potential...
- Grigoryan made the remarks during the 18th meeting of the Iran-Armenia Joint Economic Commission where he also described Iran as “a very important partner.”
- The 18th meeting of the Iran-Armenia Joint Economic Commission was held on February 14-15 in Tehran to further foster economic ties between the two countries