Chinese company to build Saudi Arabia’s first ocean park
Riyadh, Saudi Arabia - Haichang Ocean Park Holdings, China's largest ocean theme park operator, announced plans on Thursday to build...
Business
Telegraph report on Hizbollah weapons at Beirut airport sparks outrage
Dubai, UAE - An article in The Telegraph alleging that Hizbollah is stockpiling Iranian weapons at Beirut International Airport (BIA)...
Geostrategy
Ukraine flags vie with Christmas decor as Zelensky visits Washington
Americans called him heroic and compared the visit to that of Britain's premier Winston Churchill, who came to Washington in...
- Pennsylvania Avenue, the grand boulevard which links the White House and Congress, was blocked off for the one-day visit of Ukraine's president
- Outside of the White House, Zelensky's first stop of the day, television cameras from around the world were there to record the visit of the wartime leader
Economy
National banks’ financing of trade, industry sectors totalled $10bn in 9 months: CBUAE
The statistics showed that the cumulative balance of credit provided by national banks to the trade and industry sectors reached...
- The statistics showed that the cumulative balance of credit provided by national banks to the trade and industry sectors reached $196 billion at the end of August
- According to the central bank’s data, the cumulative balance of credit provided by national banks to the two sectors increased annually by 4.83 percent
Business
Nike shares soar as profits top estimates
Profits for the Q1 came in at $1.3 billion.
- Profits for the quarter ending at November 30 came in at $1.3 billion, the same as in the year-ago period while revenues jumped 17 percent to $13.3 billion
- In the most recent quarter, Nike's gross margin declined compared with the prior quarter due to higher markdowns, especially in North America, Nike said.
Morocco World Cup team arrives home to heroes’ welcome
The team and their coach Walid Regragui waved from an open-topped bus as they were driven from the airport and...
- The crowd cheered and some waved flares as fireworks crackled in the sky over the seaside capital, AFP correspondents said
- The king, alongside crown prince Moulay Hassan, handed out awards to the president of the Moroccan football federation
Economy
Gas giant Algeria slams EU gas price cap
Algeria "doesn't support the idea of limiting prices", Energy Minister Mohamed Arkab said, speaking a day after EU energy ministers...
- The EU price cap, agreed Monday after months of negotiations, will apply from February 15 and run for a year
- EU countries are worried that they will have a hard time filling gas storage tanks in time for next winter
Business
Nearly 2,000 business executives attend World Corporate Summit in Dubai
DUBAI, UAE - Nearly 2,000 global business executives and investors attended the World Corporate Summit in Dubai to share in...
- The business leaders were also building partnerships with over 100 roundtables, 20 networking sessions.
- The summit took a 360-degree view at ways to improve the world economy.
Economy
OPEC Fund approves over $500 million in new global development support
The 15 new projects approved reflect the OPEC Fund’s launch of a US$1 billion Food Security Action Plan and the...
- The 15 new projects approved reflect the OPEC Fund’s launch of a US$1 billion Food Security Action Plan and the adoption of its first Climate Action Plan earlier this year
- New engagements will support infrastructure development and investments to improve communities in the Fund’s partner countries around the world
Economy
Saudi Arabia, Azerbaijan ink 6 agreements, MoU
The agreements included the establishment of the Saudi-Azerbaijan Joint Business Council.
- The agreements included the establishment of the Saudi-Azerbaijan Joint Business Council
- The MoU was signed between the Saudi Fund for Development and the Azerbaijan Ministry of Economy
Economy
CBUAE projects real GDP to grow by 7.6% in 2022
In its Q3 review, the apex bank attributed the upward review to the robust performance of some non-oil sectors, including...
- In its Q3 review, the apex bank attributed the upward review to the robust performance of some non-oil sectors, including tourism, hospitality, real estate and manufacturing
- The review expected the non-oil GDP to grow by 6.1 percent in 2022, against 4.3 percent previously, with the oil GDP to expectedly grow by 11 percent this year
Economy
Banking, realty sectors drive UAE financial markets
Dubai real estate market recorded 476 sales transactions worth AED1.17 billion, in addition to 92 mortgage deals of AED181.95 million.
- Dubai real estate market recorded 476 sales transactions worth AED1.17 billion, in addition to 92 mortgage deals of AED181.95 million on Monday
- The Central Bank of the Emirates has raised its estimates of real GDP growth in the country to 7.6 percent at the end of the current year 2022
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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
Chinese company to build Saudi Arabia’s first ocean park
Riyadh, Saudi Arabia - Haichang Ocean Park Holdings, China's largest ocean theme park operator, announced plans on Thursday to build...
Business
Company News
Latest News
UAE, Philippines to cooperate in digital sector with focus on data centers
Abu Dhabi, UAE - The UAE and Philippines signed an agreement to create a framework for investment in the digital...
Economy
Indian spiritual leader Sadhguru to kick off COP28 faith pavilion
Dubai, UAE – Indian spiritual leader Sadhguru will address the first-ever Faith Pavilion at COP28 on Friday December 1, kicking...
COP28 UAE
MoHRE asks over 12,000 private firms to meet Emiratization targets
DUBAI, UAE – The Ministry of Human Resources and Emiratization (MoHRE) has notified over 12,000 private companies with 20-49 workers...
Geostrategy
Most Read
30 Palestinian civilians freed under truce deal: Israel
The overnight releases, which came after a sixth batch of hostages were freed from Gaza, bring the number of Palestinian...
- During the night, 30 male and female security civilians were released from a number of prison facilities," the country's prison service said in a statement
- Among those freed was Ahed Tamimi, a 22-year-old activist who has become a key figure for Palestinians defying the Israeli occupation
Geostrategy
Israel’s security impossible without resolving Palestinian problem: Russia
United Nations - Israel’s security can be ensured only through a lasting solution to the Palestinian problem and Russia is...
- Many questions arise about ways of reviving Gaza and about the future lasting solution to the Palestinian problem in general, Vasily Nebenzya said
- The mechanism of external backing for conditions for a lasting, stable settlement on the basis of the two-state solution should be really representative, he added
Business
Aster to separate its India and GCC businesses
Dubai, UAE - Aster, an integrated healthcare provider, is separating its India and GCC businesses, subject to regulatory and corporate...
- Under the plan, a consortium led by Fajr Capital has entered into an agreement to acquire a 65% stake in the ownership of the GCC business
- The separation plan will unlock value for the shareholders by allowing both the India and GCC businesses to adopt a market-focused strategy