United by innovation and progress: The enduring US-UAE partnership
‘’In close partnership, we are working to advance multilateral diplomatic solutions and provide urgently needed humanitarian assistance in Gaza and...
AI adoption in GCC surges as governments and the private sector embrace technology
With 93% of Saudi workers considering generative AI essential, alongside 95% in the Middle East and 79% globally, the region's...
Geostrategy
Sharjah, Costa Rica explore trade, food security
SHARJAH, UAE - Chairman of the Department of Government Relations (DGR) in Sharjah Sheikh Fahim Al Qasimi recently met with...
- The Costa Rican delegation was briefed on Sharjah free zones and industrial zones.
- The Costa Rican minister said the meeting explored opportunities to strengthen trade between the two sides.
Geostrategy
FNC Speaker, Canadian Senate Speaker discuss strengthening parliamentary ties
ABU DHABI, UAE - Speaker of the UAE Federal National Council Saqr Ghobash received the visiting Speaker of the Senate...
- UAE and Canada discussed the development and activation of parliamentary diplomacy between the two countries.
- The meeting touched on the latest developments in the region and efforts aimed at confronting terrorism and extremism.
Economy
Israel Finance Minister Smotrich vows central bank independence
Israel's inflation rate hit a 14-year high of 5.4 percent in January, prompting the central bank to raise interest rates...
- Israel's inflation rate hit a 14-year high of 5.4 percent in January, prompting the central bank to raise interest rates by half a percentage point
- On Monday, foreign minister Cohen slammed the central bank for raising its benchmark interest rate again at a time when inflation was moderating
Geostrategy
Jordan, Algeria discuss closer economic cooperation
AMMAN, JORDAN - A Jordanian ministerial delegation met with a number of Algerian ministers in the North African country on...
- Jordan and Algeria reached an agreement on a roadmap to advance economic, trade, and investment cooperation for the years 2023–2025.
- The road map highlights key cooperation projects with the objective of expanding trade exchanges, inter-investment volume.
Economy
Dubai Government repays $1.08bn worth of Sukuk
The Government also prepaid an additional US$300 million of Sukuk through an early redemption, almost four years ahead of its...
- The Government also prepaid an additional US$300 million of Sukuk through an early redemption, almost four years ahead of its maturity in November 2026
- The Public Debt Management Office said that the Government has fully redeemed the Sukuk through the settlement of payable amounts, including accrued profits, to the investors
Geostrategy
UN Security Council condemns Israeli settlements, terming them as obstacle to peace
The council stressed that the continuation of Israeli settlement activity endangers the principle of the two-state solution.
- The council stressed that the continuation of Israeli settlement activity endangers the principle of the two-state solution
- It reaffirmed its firm commitment to the vision of a two-state solution, in accordance with international law and relevant UN resolutions
Business
PwC, Microsoft expand partnership for digital transformation in Saudi Arabia
DUBAI, UAE - PwC Middle East and Microsoft have strengthened their global partnership at LEAP event in Riyadh, to support...
- The collaboration will focus on cloud transformation, business process automation and technology consulting.
- The partnership aims to strengthen businesses by providing access to cloud services that are scalable and secure.
Business
DIFC achieves high growth in 2022, driven by fintech, innovation
DUBAI, UAE - Dubai International Financial Center (DIFC) continued to grow at a record-breaking pace in 2022 with the number...
- New companies registered in DIFC in 2022 surpassed the annual milestone of 1,000 for the first time in the Center's history.
- In 2022, DIFC’s combined revenue exceeded US$272 million for the first time.
Economy
Lebanon’s central bank chief not to renew his term
Riad Salameh, who became the head of the central bank in 1993, has come under increased scrutiny both at home...
- Salameh, who became the head of the central bank in 1993, has come under increased scrutiny both at home and abroad
- The collapse has locked most savers out of their bank accounts and pushed more than 80 percent of Lebanon's population below the poverty line
Economy
Oil prices little changed in early Asian trade
The benchmarks closed lower by about 4 percent last week after the United States reported higher crude and gasoline inventories.
- The benchmarks closed lower by about 4 percent last week after the United States reported higher crude and gasoline inventories
- US also announced plans to release 26 million barrels of crude from the Strategic Petroleum Reserve which could lead to higher stockpiles at Cushing, Oklahoma
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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
United by innovation and progress: The enduring US-UAE partnership
‘’In close partnership, we are working to advance multilateral diplomatic solutions and provide urgently needed humanitarian assistance in Gaza and...
Company News
EDGE acquires 52% of ANAVIA
Business
Latest News
Russia extends ban on entry of trucks from EU, UK, Norway, Ukraine
MOSCOW, RUSSIA - The Russian government has extended the ban on the entry of trucks from the European Union, the...
Geostrategy
Sheikh Hamdan approves $41m worth bonus for civilian employees of Dubai govt entities
DUBAI UAE - Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince and Chairman of The Executive Council of...
Geostrategy
10m people attend Riyadh Season 2023 events in first 50 days, says report
RIYADH, SAUDI ARABIA - According to the Riyadh Season, 10 million people took part in the activities organized in the...
Arts & Culture
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Deyaar, Arady Properties sign MoU
Deyaar is a leading real estate developer in Dubai.
- The MoU outlines the commercial objectives for the project and provides a framework for further negotiations
- Deyaar has developed strategic partnerships with renowned real estate entities in the region and beyond
Geostrategy
Saudi defense minister hosted by UK counterpart at Lancaster House in London
Riyadh, Saudi Arabia — UK's Secretary of State for Defense Grant Shapps welcomed Saudi Arabia's Minister of Defense Prince Khalid bin...
- Upon Prince Khalid bin Salman's arrival, a formal reception ceremony was held, featuring a review of the guard of honor
- The two sides discussed strengthening the strategic partnership between the UK and Saudi Arabia
Economy
UAE insurance sector grows with rise in gross written premiums in Q3 2023
Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) has said that the UAE insurance sector continued to...
- CBUAE stated that by the end of Q3 2023, the number of licensed insurance companies in the UAE remained at 60
- The sector comprised 23 traditional national companies, 10 Takaful national and 27 foreign companies