Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts
The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...
Economy
Ceasefire agreement between Israel and Hamas goes into effect, marking first steps toward peace
As the first phase of the ceasefire takes effect, the world watches to see whether this temporary reprieve will be...
Geostrategy
Arts & Culture
UAE prepares for upcoming 3-Day weekend to celebrate Islamic New Year
Dubai, UAE - The United Arab Emirates (UAE) is gearing up for its next public holiday, as residents anticipate the...
- The upcoming holidays are highly anticipated. following the recent extended Eid Al Adha vacation, which provided a six-day break and marked the longest holiday of the year
- It presents another chance for people to spend quality time with family and friends, explore local attractions, or embark on short getaways within the country
Business
Saudi Arabia, UAE allocate $6bn to support their operations in Iraq
Baghdad, Iraq - Saudi Arabia and the UAE have allocated $6 billion to support their operations in Iraq, the Federation...
- The FICC's president Abdul al-Razzaq al-Zuhairi emphasized the need for adhering to World Bank standards in the management of import and export of goods
- Al-Zuhairi further elaborated on the role of the federation in establishing business councils and finalizing agreements, such as the one reached with Saudi Arabia and the UAE
Business
AD Ports Group buys logistics services provider Noatum for $0.72bn
Abu Dhabi, UAE - AD Ports Group on Sunday announced that it has acquired Noatum, a global integrated logistics services...
- The acquisition has received approvals from all regulatory bodies, including from Spanish Authorities, after it attained clearance from the European Commission earlier this year
- The Spain-headquartered company generated revenue and EBITDA of AED 6.4 billion ($1.74 billion)) and AED 448 million ($122 million) in the last twelve months
Business
Sharjah’s literary organization SILA gets new director
SHARJAH, UAE - Sharjah International Literary Agency (SILA) has named one of UAE’s top publishing executives, Tamer Said, its next...
- Since its creation in 2020, SILA has boosted communication between publishers, authors, translators, illustrators and other stakeholders.
- SILA also ensures publishers’ and writers’ rights are protected and stimulates the Arabic publishing market.
‘Agenda 47’: What Trump has promised if he wins in 2024
Trump wants to launch "a great beautification campaign" to improve US cities, making the streets more pleasant for ordinary Americans....
- The former president and frontrunning Republican candidate for 2024 has explained in speeches and a series of "Agenda 47" policy videos how he would govern
- Often thin on detail, the eye-catching pronouncements form the backbone of a platform that Trump says will "make America great and glorious again."
Business
Masdar investing $1.26bn in British battery storage
London, UK - Masdar, the UAE’s renewable energy company, has committed to invest £1 billion in British battery storage, following...
- Masdar has partnered with Octopus Energy to license its technology platform, Kraken, to manage its battery portfolio at low cost and with maximum efficiency
- The company owns stakes in London Array, one of the world’s largest offshore wind farms, and Hywind Scotland, the world’s first commercial-scale floating wind farm
Arrangements hailed as pilgrims leave Saudi Arabia after Hajj
On Friday, two days after the last major ritual, tens of thousands of people packed roads and boarded buses out...
- This year over 1.8 million worshippers performed the hajj, which is one of the five pillars of Islam and is among the world's largest religious gatherings
- This year's attendance figures marked a dramatic increase on the 926,000 from last year, when numbers were capped at one million following the Covid-19 pandemic
Business
UAE, Armenia non-oil trade reaches $1.53bn in 2022
Yerevan, Armenia – Non-oil trade volume between the UAE and Armenia reached $1.53 billion in 2022, with a growth rate...
- The UAE is the top trading partner for Armenia in the GCC in 2021, accounting for 90 percent of Armenia's total trade with GCC countries
- The total UAE non-oil exports to Armenia amounted to almost $229 million in 2022, with a growth rate of 245 percent compared to 2021
Geostrategy
France, UAE share vision to shift towards clean energy
PARIS, FRANCE - French Minister of Foreign Trade Olivier Becht said his country and the UAE share a common vision...
- The UAE and his country are working together on low-carbon energy solutions, the French minister said.
- The minister highlighted the rising number of natural disasters globally caused by climate change.
Canada, others to seek damages from Iran at UN court over downed jet
On Wednesday, Iran took Canada to the Hague-based International Court of Justice, the UN's top tribunal, accusing Ottawa of allowing...
- Iranian forces shot down Ukraine International Airlines flight PS752 shortly after takeoff from Tehran on January 8, 2020, killing all 176 people on board
- Canada, Britain, Sweden and Ukraine - which had a number of citizens on board - have been seeking reparations on behalf of victims' families
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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
Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts
The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...
Economy
Company News
Latest News
Newly restored tomb of Neferhotep in Luxor opens to tourists
Cairo, Egypt -- After more than two decades of restoration, the tomb of Neferhotep, a high-ranking 18th dynasty senior official...
MODON attracts US$34m investment to develop military industry in Saudi Arabia
RIYADH, SAUDI ARABIA - The Saudi Authority for Industrial Cities and Technology Zones (MODON) has attracted new investments worth US$34...
Business
ESG 2023 net profit at US$187m
The firm posted a year-on-year net profit rise of 316 percent.
Business
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Business
61 contracts worth $7billion signed at World Defense Show in Riyadh
Riyadh, Saudi Arabia - About 61 purchase contracts totaling approximately SR26 billion ($6.93 billion) were signed at the second World...
- The event, featuring 773 exhibitors and hosting 441 official delegations from 116 countries, attracted 106,000 visitors
- Throughout the show, a total of 73 agreements were finalized, including 17 industrial partnership agreements
Business
DMCC witnesses 10 percent rise in US companies in 2023
DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in...
- DMCC sees opportunity for American businesses in Dubai after the success of the latest Economic Policy Dialogue held between the US and UAE
- The events saw 100 American executives attend in which speakers advised on the opportunities on offer to American businesses in the UAE
Geostrategy
Saudi foreign minister meets UNRWA chief in Riyadh, promises support
Riyadh, Saudi Arabia — Saudi Minister of Foreign Affairs Prince Faisal bin Farhan received Philippe Lazzarini, commissioner general of the...
- Prince Faisal reaffirmed the Kingdom's backing for the agency and called on all UNRWA donors to contribute to humanitarian efforts for the Palestinians
- 16 donor countries, including major contributors like the US and Germany, have suspended their funding amid allegations of misconduct within the UNRWA