Syria, Iran, Saudi Arabia, and Palestine test Washington’s strategy under Trump leadership
The Trump administration faces a Middle East shaped by shifting alliances, unresolved conflicts, and evolving regional priorities, demanding a measured...
Geostrategy
Dubai ranks among world’s top 10 cities in Global Power City Index for second consecutive year
Dubai, UAE - Dubai has been ranked eighth worldwide and first in the Middle East in the Global Power City...
Economy
Economy
Companies violating Emiratization targets will face up to $136,147 fines
Dubai, UAE – The UAE announced on Thursday that companies will be subject to fines of up to AED 500,000...
- Not meeting the Emiratization targets, which includes reducing the number of employees or modifying their classification, will be considered a violation
- Companies with 50 employees or more are required to increase the number of their Emirati employees in skilled jobs by 1 percent every six months
Business
SODIC posts $0.10bn Q1 sales
The firm is one of Egypt's leading real estate developers.
- SODIC's majority shareholder, Aldar, led one of the largest foreign direct investments in the Egyptian real estate sector in 2021
- The company is also expanding its landbank in multiple areas across Egypt, including West Cairo, East Cairo, and the North Coast
33% of Dubai tenants prefer one bedroom units to large apartments
Dubai, UAE - ZāZEN Properties, a sustainable property developer in the United Arab Emirates (UAE), has noted a surge in...
- With overall property prices increasing, residents are searching for the best ways to invest their money, whether as a long-term profitable option or to live in the property
- Also, due to the overall increase in mortgage and rental rates investing in one or two-bedroom units versus larger apartments or townhouses has become preferable
Geostrategy
Russia, Iran to ink pact on linking railroad infrastructure
Tehran, Iran - Russia and Iran are set to sign a bilateral agreement on the construction of the Rasht-Astara section...
- The project will connect the land sections of the International North-South Transport Corridor, increasing efficiency of the trans-Caspian route
- The construction of the Rasht-Astara section is estimated to cost around $1.6 billion and take four years to complete
Economy
Qatar’s inbound visitors see 183% rise in March
Doha, Qatar - Inbound visitors to Qatar surged by 183.5 percent YoY in March, according to the 111th issue of...
- The total number of visitors reached 433,000 in the month, a rise of 11% over February
- Gulf Cooperation Council visitors accounted for the highest number at 38%
DEWA adds 200 MW of clean energy from solar park
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has added 200 MW of clean energy from the fifth phase...
- DEWA organized a conference in March 2023 to give an overview of the latest developments of the 1,800MW 6th phase for local and international developers
- The solar park's current production capacity is now at 2,327MW, which is about 15.7 percent of Dubai's total production capacity of energy
Business
Dubai based Astra Tech launches ‘Ultra app’ Botim
Dubai, UAE - Dubai-based consumer technology holding group Astra Tech has launched the world's first "Ultra app" - Botim 3.0. ...
- The app is a combination of fintech, e-commerce, and GPT, built on top of a communication platform
- Botim GPT is an executional GPT that leverages AI to execute tasks and process transactions through conversation
Business
World’s longest submarine cable lands in Jeddah, Yanbu
Jeddah, Saudi Arabia -- Center3, a connectivity company owned by stc Group, and Meta Company announced on Tuesday the landing...
- The project, a part of the 2Africa subsea cable consortium, is geared tow making Saudi Arabia a global digital hub linking three continents of the world - Asia, Africa and Europe.
- With over 45,000 km of length, the project will connect 33 countries by the completion of the project in 2024, delivering reliable connectivity and internet services
Economy
Saudi Arabia approves rules to aid foreign investment in securities market
Riyadh, Saudi Arabia - Saudi Arabia has approved new rules aimed at boosting foreign investment in the country's securities market. ...
- The rules aim to make it easier for foreign investors to enter the Saudi capital market by consolidating regulations governing foreign investment into a single document
- They remove several requirements previously placed on Qualified Foreign Investors, including the need to apply for a qualification and assessment agreement
Economy
DIFC, PwC launch program to boost tax settlement knowledge
DUBAI, UAE- DIFC Academy announced a collaboration with PwC’s Academy to offer a globally recognized diploma program aimed at upskilling...
- Under the deal, DIFC Academy will offer the UAE Corporate Tax Diploma Program in collaboration with PwC’s Academy.
- The program was announced in preparation for the UAE Federal Corporate Tax Law, which comes into effect June 1, 2023.
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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
Syria, Iran, Saudi Arabia, and Palestine test Washington’s strategy under Trump leadership
The Trump administration faces a Middle East shaped by shifting alliances, unresolved conflicts, and evolving regional priorities, demanding a measured...
Geostrategy
Company News
Latest News
Blinken, Wang discuss Gaza war in phone call
Geostrategy
China remains world’s largest logistics market in terms of demand
BEIJING, CHINA - The logistics sector in the country achieved steady recovery in 2023 and the country remains the world's...
Business
Healthcare industry globally faces data hacking threat
DUBAI, UAE - In an age where data is a cornerstone of modern healthcare, the industry faces an escalating threat...
Business
Cinema ticket prices in Saudi Arabia decline by 16% in 2023
Riyadh, Saudi Arabia - The average cinema ticket prices decreased by over 16% in 2023 compared to the previous year,...
Business
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Economy
Pakistan, Dubai ink deals worth $3 billion at Davos
Davos, Switzerland - Pakistan and Dubai signed two agreements totaling over $3 billion on the sidelines of the World Economic...
- One of the key agreements involves the establishment of a rail-based dedicated freight corridor
- It will run from Karachi Port on the Arabian Sea through Karachi to the Pipri Marshalling Yard
Houthis say US ship hit in latest attack, promise safe passage for Russian, Chinese ships
In its own statement, the US military's Central Command, which is responsible for the Middle East, said the Houthis on...
- While the Iran-backed rebels maintained they had struck the commercial vessel in the Gulf of Aden, the US military said the group's missiles had missed their mark
- Continued Houthi aggression against vessels in and around the Red Sea has led to strikes in Yemen by US and British forces
Economy
Saudi Arabia to host WEF special meeting in April
Davos, Switzerland — Saudi Arabia will host a special meeting of the World Economic Forum (WEF) in Riyadh this April, Saudi...
- Speaking at the panel 'Saudi Arabia: The Course Ahead', Saudi minister Faisal Al Ibrahim said the event will focus on global collaborations
- He underlined Riyadh's emerging role as a hub for various sectors and as a center for global thought leadership.