UAE launches national strategy to combat money laundering, terror financing
The strategy focuses on risk-based compliance, international cooperation, effective supervision, and disrupting illicit financial activities through improved data collection, analysis,...
Economy
46,223 structures destroyed, 18,478 severely damaged in Gaza: UNOSAT
Geneva, Switzerland - The United Nations Satellite Centre (UNOSAT) has identified 46,223 destroyed structures, 18,478 severely damaged structures, 55,954 moderately...
Geostrategy
Business
35 Jordanian companies to participate in Gulfood 2024 in Dubai
AMMAN, JORDAN – A total of 35 Jordanian companies are taking part in Gulfood 2024, the world's largest annual food...
- The Jordan Exporters Association is coordinating the country's participation in the event.
- JEA is coordinating local participation in the exhibition for the 20th consecutive time.
Business
Abu Dhabi Judicial Department’s Auction App generated $925m in property sales
Abu Dhabi, UAE - Since its launch in June 2022 through mid-February 2024, the Abu Dhabi Judicial Department's (ADJD) Auction...
- The statistics highlight the growing popularity and effectiveness of the ADJD Auction App as a platform for buying and selling various assets remotely.
- Counselor Yousef Saeed Alabri, Undersecretary of the Judicial Department, said that the smart Auction App revolutionized the bidding process for seized property in judicial cases
Business
Extreme E races for electric SUVs 2024 kick off in Jeddah
Jeddah, Saudi Arabia - Organized by the Saudi Arabian Cycling Federation under the supervision of the Ministry of Sport, the...
- The fourth annual "Extreme E" all-electric sport-utility vehicle (SUV) off-road racing series will witness the participation of eight two-racer teams
- The first edition of this global competition was held in AlUla in 2021 and the 2022 and 2023 editions were held in NEOM
Geostrategy
Hizbollah chief says Israel to pay ‘with blood’ for Lebanon civilians killed
Nasrallah said the killing of civilians was aimed at "putting pressure" on Hizbollah to stop attacks on Israel, but stressed...
- He warned that his movement has "precision-guided missiles that can reach... Eilat", on Israel's Red Sea coast, beyond the northern towns it usually targets in retaliatory strike
- Hamas ally Hizbollah and its arch-foe Israel have been exchanging near-daily fire across the border since the Israel-Hamas war broke out on October 7
Economy
Saudi Arabia ranks 1st in international tourist arrivals growth in 2023
Riyadh, Saudi Arabia - Saudi Arabia topped the UN Tourism’s ranking for the growth of international tourist arrivals in 2023...
- The kingdom recorded a remarkable tourism recovery rate of 156% in international tourist arrivals in 2023 compared to 2019, the report revealed
- Saudi Arabia set a record in international tourist receipts, with total spending exceeding SAR 100 billion ($27 billion) for the first three quarters of 2023
Geostrategy
Iran, Armenia eye $3 billion bilateral trade volume
Tehran, Iran – Deputy Prime Minister of Armenia Mher Grigoryan on Thursday said that Iran and Armenia have the potential...
- Grigoryan made the remarks during the 18th meeting of the Iran-Armenia Joint Economic Commission where he also described Iran as “a very important partner.”
- The 18th meeting of the Iran-Armenia Joint Economic Commission was held on February 14-15 in Tehran to further foster economic ties between the two countries
Geostrategy
Israel faces fresh US calls against attack on Rafah
Palestinian Territories - Israel faced renewed calls from key ally the United States on Friday against launching a large-scale attack...
- Israeli Prime Minister Benjamin Netanyahu has insisted he would push ahead with a "powerful" operation in the overcrowded city to achieve "complete victory" over the Hamas
- The White House said US President Joe Biden had spoken by phone with Netanyahu late Thursday, urging him not to carry out an attack on Rafah without a plan to keep civilians safe
Business
Mawani completes Red Sea Gateway Terminal at Jeddah Islamic Port
Riyadh, Saudi Arabia - The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah...
- The gateway terminal has larger capacity, is equipped with the Optical Character Recognition (OCR) feature, and uses 146 different types of equipment
- The development of Jeddah Islamic Port’s North Container Terminal is included in the Build-Operate-Transfer (BOT) contract
Geostrategy
Saudi Arabia’s Madinah, KAEC, Al-Ahsa join UNESCO global network of learning cities
RIYADH, SAUDI ARABIA - The United Nations Educational, Scientific and Cultural Organization has announced that the cities of Madinah, King...
- Saudi Arabia now boasts five cities enlisted in the UNESCO GNLC, contributing to the goal of equipping globally competitive citizens.
- Previously, Yanbu Industrial City was designated as a UNESCO Learning City in 2022 and Jubail Industrial City earned the Learning City status in 2020.
Economy
Saudi Arabia set to establish more smart industrial zones
Riyadh, Saudi Arabia - Saudi Arabia will establish more smart industrial zones, Minister of Municipal and Rural Affairs and Housing,...
- Minister of Municipal and Rural Affairs and Housing, Majed Al-Hogail revealed this at the conclusion of the inaugural Global Smart City Forum 2024 here on Tuesday
- Minister of Industry and Mineral Resources Bandar Alkhorayef who also attended the Forum, stressed the industry and mining sectors' increasing demand for smart industrial cities
UAE launches national strategy to combat money laundering, terror financing
The strategy focuses on risk-based compliance, international cooperation, effective supervision, and disrupting illicit financial activities through improved data collection, analysis,...
Economy
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Saudi Arabia offers 6 mining opportunities for local, international investors
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources on Wednesday announced six new mining opportunities for...
Economy
Rising threat: DDoS attacks demand proactive defense
"Threat actors can employ artificial intelligence (AI) and machine learning (ML) algorithms to identify vulnerabilities and adapt their tactics in...
EasyLease buys stake in United Trans
This helps EasyLease expand its presence in mobility sector.
Business
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Economy
SAMA: E-payments share reached 70% of total payments in 2023
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) announced on Monday that the share of retail consumer electronic payments...
- The achievement is attributed to the significant growth of payments processed through national payment systems in 2023
- The evolving cost-effective and reliable e-payment system helps enhance transaction efficiency, and support financial stability
Economy
Gross written premium rises by 12.7% in Q4 2023 to US$14bn, says CBUAE
ABU DHABI, UAE - The UAE insurance sector continued to grow in Q4 2023, as reflected by the increase in...
- The number of licenced insurance companies in the UAE remained at 60, the CBUAE announced in its quarterly economic report.
- The insurance of persons and fund accumulation premiums decreased by 12.4 percent YoY.
Economy
Debt, trade barriers drag Asian economies in 2024, says World Bank report
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
- Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5 percent this year from 5.1 percent in 2023.
- A key risk is that the US Federal Reserve and other major central banks might keep interest rates higher than before the pandemic.