In a change of tone, Syria’s new leader urges US to pressure Israel for withdrawal
Julani’s appeal comes as Syria signals a shift in its diplomatic tone. Maher Marwan, Damascus’ new governor, told NPR that...
Geostrategy
Global markets rode AI, interest rate roller coaster in 2024
Paris, France - Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for Artificial Intelligence (AI),...
Economy
Economy
Dubai issues law regulating operations of autonomous vehicles
Dubai, UAE - Dubai has issued a law to regulate the operations of autonomous vehicles in the city. The new...
- The law outlines the responsibilities of the Roads and Transport Authority (RTA) in regulating the sector
- The Authority is responsible for demarcating the roads, areas, and routes that autonomous vehicles operate in
Economy
Saudi inflation eases to 2.7% in March: official data
Riyadh, Saudi Arabia - Saudi Arabia's annual inflation rate dropped to 2.7 percent in March from 3 percent in February,...
- Housing, water, electricity, gas, and other fuels rose by 7.4% from the previous year, with overall rents for housing increasing by 8.7%
- Experts predict a decelerating trend in inflation in Saudi Arabia over the coming months due to easing global supply-side costs
Economy
300 UAE companies operating in Egypt, more investment likely
Abu Dhabi, UAE - Egypt has over 3,000 Emirati companies operating in telecommunications, construction, smart cities, retail, oil and gas,...
- Al Jarwan said that the two countries also aim to increase the investment to $35 billion over the next decade.
- Egypt has over 3,000 Emirati companies operating in telecommunications, construction, smart cities, and other areas
Science
No climate action is possible without climate finance
Dr Al Jaber noted that climate finance is essential for each workstream of the Paris Agreement, from mitigation to adaptation,...
- Dr Al Jaber emphasised the need to increase the affordability, availability, and accessibility of climate finance to accelerate climate action and a just energy transition
- He noted that climate finance is essential for each workstream of the Paris Agreement, and that these resources are particularly needed in Global South
Business
UAE top Arab investor in Egypt with $28bn investments by Q1
Abu Dhabi, UAE - The UAE led the Arab region in terms of investments in Egypt, Jamal bin Saif Al...
- The two countries also aim to increase this figure to $35 billion over the next decade in tourism, education, logistics, food industries.
- The Egyptian market has over 3,000 Emirati companies operating in telecommunications, construction, smart cities
Business
ADNOC L&S to deploy five very large gas carriers
ABU DHABI, UAE - ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of ADNOC, announced on...
- The gas carriers will be owned and operated by AW Shipping, an ADNOC L&S joint venture with Wanhua Chemical Group.
- VLGCs transport liquefied petroleum gas and will provide ADNOC L&S greater flexibility to meet growing global gas demand.
Business
China becomes first Asian country to get a share of Qatar’s landmark natural gas field
Doha, Qatar: Chinese oil giant Sinopec on Wednesday became the first Asian firm to get a stake in Qatar's expansion...
- North Field contains the world's biggest natural gas reserves and extends under the Gulf into Iranian territory
- China is already the biggest customer for Qatar's liquefied natural gas and one of the world's top LNG importers
Economy
Egypt’s Sisi meets UAE leader amid economic woes
Cairo's foreign reserves fell by about 20 percent in one year to $34.45 billion -- about $28 billion of which...
- Sisi has been courting Gulf leaders as Egypt grapples with economic turmoil that has seen inflation shoot up to nearly 34% and the local currency halve in value
- Egypt was hit hard by the impact of Russia's invasion of Ukraine last year, having heavily relied in wheat imports and revenues from tourism from both countries
Business
RAKEZ wins award for Best RPA Excellence during Future Data Summit 2023
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) received the 'Best RPA Excellence Award' during the Future...
- RAKEZ has embarked on its automation journey by utilizing virtual bots to handle visa-related services.
- These virtual bots have successfully reduced the time needed for some of the processes by 1.5 days, completing them within 12 hours.
Geostrategy
Saudi Crown Prince receives US NSA call amid advancing Saudi-Iran detente
The two leaders talked about de-escalation in the region and maintaining deterrence against threats from Iran and elsewhere.
- Sullivan commended the progress made in Yemen over the past year and welcomed Saudi efforts towards a roadmap for ending the conflict
- The two leaders also talked about de-escalation in the region and maintaining deterrence against threats from Iran and elsewhere
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In a change of tone, Syria’s new leader urges US to pressure Israel for withdrawal
Julani’s appeal comes as Syria signals a shift in its diplomatic tone. Maher Marwan, Damascus’ new governor, told NPR that...
Geostrategy
Company News
Latest News
Infracorp logs $29.8m profit
Business
Global personal computer shipments decline 14.8 percent in 2023
DUBAI, UAE - Worldwide PC shipments totaled 63.3 million units in the fourth quarter of 2023, a 0.3 percent increase...
Business
Saudi Arabia to highlight role in dealing with global challenges at WEF meet
RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...
Economy
Egypt denies suspending navigation through Suez Canal
Cairo, Egypt - Egypt Saturday said that navigation movement in the canal is regular from both directions, Chairman of the...
Geostrategy
Most Read
Business
Record-breaking home sales in Dubai’s upscale market in 2023
Dubai, UAE – Sales of properties worth more than $1.35 million and $2.70 million in Dubai hit record levels in 2023,...
- Among the communities tracked by CBRE, in 2023, Palm Jumeirah registered the highest volume of transactions in both the prime and super-prime market segments
- Off-plan sales in the $1.35 million and $2.70 million segments of the market accounted for 67.2% and 70.8% of total transaction volumes, respectively
Business
Lunate Capital launches Shariah-compliant ETF tracking Indian equities
ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid,...
- The fund will track the performance of Shariah-compliant Indian equities listed on the Bombay Stock Exchange.
- The Index tracks the performance of the 30 most liquid Shariah-compliant Indian stocks listed on the BSE.
Economy
Morocco joins UAE, Jordan, Egypt, Bahrain in regional industrial collaboration
Manama, Bahrain – Morocco became the fifth country to join the UAE, Jordan, Egypt and Bahrain at the fourth meeting...
- Morocco is expected to bring significant value to the partnership, given the country’s advanced industrial capabilities
- The country's GDP exceeded $134 billion in 2022 and its industrial sector provided over 1 million jobs, through some 121,000 companies