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
Saudi Arabia partners with Microsoft Arabia for AI use in media
Riyadh, Saudi Arabia - The Ministry of Media and Microsoft Arabia signed a memorandum of understanding (MoU) in Riyadh on...
Business
Economy
Lebanese bank faces depositor lawsuit following US court decision
In the midst of Lebanon's three-year financial collapse, banks have tightened controls on withdrawals in both US dollars and the...
- In the midst of Lebanon's three-year financial collapse, banks have tightened controls on withdrawals in both US dollars and the local currency
- Savers have challenged the restrictions in local and international courts, seeking to get back their money promptly in US dollars
Economy
Jordan, Iraq agree to extend MoU on importing Iraqi oil
Iraq is currently supplying Jordan with 10,000 barrels of oil per day (bpd).
- Iraq is currently supplying Jordan with 10,000 barrels of oil per day
- The average price of crude oil exported to Jordan reached $75.67
Geostrategy
UN passes resolution on Palestinian Right to Self-determination
Earlier on, the United Nations General Assembly voted by a majority five resolutions in favor of the Palestinian cause, especially...
- Earlier on, the UN General Assembly voted by a majority five resolutions in favor of the Palestinian cause, especially the refugee issue
- These resolutions are issued annually by the General Assembly, which has 193 members, and are non-binding
Economy
Britain, Dubai to deepen data partnership
There are as many as 5,000 British companies operating in the UAE, many of which depend on safe data transfers.
- There are as many as 5,000 British companies operating in the UAE, many of which depend on safe data transfers
- DIFC is the first financial centre in the MEASA region to engage with the UK Government on an adequacy assessment
Economy
Dubai tourist arrivals vault 134% from Jan to Oct
Dubai’s hotel inventory in October 2022 comprised 144,737 rooms at 790 hotel establishments compared with 122,185 rooms available at the...
- Dubai’s hotel inventory in October 2022 comprised 144,737 rooms at 790 hotel establishments compared with 122,185 rooms available in October 2019
- UAE Tourism Strategy 2031 seeks to attract AED100 billion in additional tourism investments and 40 million hotel guests by 2031
Economy
Qatar’s budget surplus exceeds $21bn in 9 months
The surplus is mainly due to control over expenditures and the rise in revenues with the recovery in oil prices.
- The surplus is mainly due to control over expenditures and the rise in revenues with the recovery in oil prices
- The data also showed an increase of 26 percent in revenues and 0.78 percent in expenditures in the third quarter
Business
Ardian, Mubadala Capital announce $2.1bn private equity partnership
New York, USA - Ardian, a world leading private investment house, and Mubadala Capital, the asset management arm of Mubadala...
- The two companies have built a strong relationship since forming a successful initial partnership in 2017
- They have curated a portfolio of ten limited partnership interests with a leading group of General Partners predominantly in North America and Europe
Geostrategy
Libya’s Dbeibah defends extradition of alleged Lockerbie bomber
Dbeibah has come under heavy criticism from political opponents and rights activists since the extradition. Abu Agila Mohammad Masud, 71,...
- Libyan leader has come under heavy criticism from political opponents and rights activists since the extradition
- In a speech broadcast on national television, said Masud was "responsible for the bomb-making cell
Economy
Saudi inflation rate eases to 2.9 percent in November
Housing rents rose by 5.4 percent, bringing the overall housing, water, electric, gas, and other fuels increase to 4.7 percent.
- Housing rents rose by 5.4 percent, bringing the overall housing, water, electric, gas, and other fuels increase to 4.7 percent
- In the last couple of months, food prices rose by 3.6 percent while transport costs have increased by 4 percent
Business
Altawkilat, Saudi auto distributor expanding into UAE
ALTAWKILAT is one of the largest automotive distributors in Saudi, with over 75 years of experience.
- ALTAWKILAT is one of the largest automotive distributors in Saudi, with over 75 years of experience
- It will open its first facility in Abu Dhabi in January 2023, followed by Dubai and Sharjah
Most Read
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
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
Company News
Latest News
UNGA resolution calls upon Israel to withdraw from the occupied Golan Heights
United Nations - The UN General Assembly adopted a resolution calling upon Israel to withdraw from the occupied Golan Heights,...
Geostrategy
UAE to invest $20-25 bn in cash-strapped Pakistan
Abu Dhabi, UAE - The UAE and Pakistan recently sealed a significant deal, potentially injecting between $20 to $25 billion...
Economy
Dubai Future Forum calls for creation of global framework
DUBAI, UAE: Governments and the United Nations should create an internationally adopted framework specifically designed to help solve global challenges,...
Geostrategy
Most Read
Economy
Saudi banks see moderate improvement in margins in Q3: report
Riyadh, Saudi Arabia - Operating income of Saudi banks increased by 2.9 percent QoQ, majorly due to net-interest income (NII)...
- Top 10 lenders demonstrate resilience with a 2.9 percent quarter-on quarter (QoQ) increase in operating income, fueled by robust net interest income growth
- Moderated credit growth is anticipated in Q4’2023, underscoring a positive economic outlook, driven by non-oil sectors and sustained government spending
Business
$128 billion in US company deals during Dubai Airshow: US Ambassador
Abu Dhabi, UAE - Martina A Strong, the US Ambassador to the UAE revealed on Monday that American companies secured...
- Martina A Strong underlined the UAE's significance as a market for American companies, highlighting the presence of over 1,500 American businesses
- The companies are drawn to the UAE's strategic location, its pro-business environment, and its gateway to burgeoning regional markets, she noted
Geostrategy
Israel reportedly pulls support for Saudi bid to host Expo 2030, to back Italy
Tel Aviv, Israel - Israel has reportedly withdrawn its support for Saudi Arabia’s bid to host the Expo 2030. The...
- Israel had previously signaled its backing for Saudi Arabia as talks mediated by the US aimed at normalizing relations between the two nations gained momentum
- Riyadh’s alignment with the broader Arab community in condemning Israel's military operation in Gaza sparked a rift, prompting Israel to reconsider its support