22 killed in Israeli air strikes across Gaza
The Israeli military has stepped up its Gaza offensive in recent days in what it has described as a renewed...
Geostrategy
Real estate transactions in five UAE emirates reach $65 billion in Q1
Abu Dhabi, UAE -- Real estate transactions across five emirates in the UAE surged to over AED 239 billion ($65...
Business
Business
ADNOC buys 25% stake in OMV
The OMV is headquartered and listed in Vienna, Austria.
- The transaction accelerates delivery of ADNOC’s global chemicals growth strategy, and reinforces its status as a responsible, long-term partner and growth-oriented investor
- Österreichische Beteiligungs AG (ÖBAG), an Austrian independent holding company, now owns 31.5 percent, with the remaining share capital in free float
Business
QFC signs two MoUs
MoUs with BFB, Partior were inked during Web Summit 2024.
- The MoU with Bahrain FinTech Bay establishes comprehensive frameworks for cooperation in joint research projects.
- Under the MoU, each entity shall provide support, assistance and resources to start-ups from the QFC and BFB.
Business
Abu Dhabi residential sector achieves record growth in 2023, says report
ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...
- The increase in demand for residences has been driven by several positive initiatives and announcements by the government.
- Off-plan transactions accounted for approximately 84 percent of all villa and townhouse transactions.
Business
Singapore’s Petrozo Energy setting up Sharjah base to target Middle East
Sharjah, UAE – Petrozo Energy, a leading Singapore-based oil and gas company, has announced a plan to establish a new...
- Petrozo operates a global network with offices across Indonesia, India, Thailand, the UAE, Hong Kong, Bangladesh, the USA and other countries
- The company is renowned for its extensive portfolio, producing a variety of products including fuel oils, petrochemicals, bitumin and naphtha
Economy
Abu Dhabi sees 67% annual rise in number of AI company registrations
Abu Dhabi, UAE - The number of AI companies registered in Abu Dhabi grew at a compound annual rate of...
- The study highlights on Abu Dhabi’s ambitions to maximize the benefits of utilizing AI systems, applications, technologies, and solutions
- In recent year, Abu Dhabi Chamber has adopted innovation and digital transformations and implemented supportive policies
Economy
IMF predicts soft landing for global economy, yet growth remains muted
Dubai, UAE - The International Monetary Fund (IMF) in a report has indicated that the global economy is on course...
- A soft landing, described as an economic slowdown resulting from a central bank's cautious interest rate increases, aims to avoid a recession
- The IMF suggested that global economic growth could surpass expectations if disinflation progresses faster than anticipated, prompting earlier monetary policy easing
Business
Bitcoin surpasses $57,000 as crypto rally remains strong
Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market...
- The rise follows Bitcoin's climb above $54,000 on Monday, a milestone not reached since December 3, 2021
- The cryptocurrency has been experiencing a bullish trend since January 11, when the US Securities and Exchange Commission approved spot Bitcoin ETFs
Geostrategy
Zelenskyy in Saudi Arabia to discuss war; meets Mohammed bin Salman
RIYADH, SAUDI ARABIA - President of Ukraine Volodymyr Zelenskyy and his accompanying delegation arrived here on Tuesday. The Ukrainian President...
- At the Royal Terminal in King Khalid International Airport, Zelenskyy was received by the Deputy Governor of Riyadh Region and other senior officials.
- The 10th Saudi relief plane operated by King Salman Humanitarian Aid and Relief Center (KSrelief) reached a Polish airport, close to the Ukrainian border.
Business
UAE announces US$2,722 penalty for late corporate tax registration
ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024...
- A penalty of US$2,722 (AED10,000) will be imposed on businesses that do not submit their Corporate Tax registration applications on time.
- The penalty was implemented to prompt taxpayer compliance with laws through timely corporate tax registration.
Business
AI entity is Board Observer in IHC
IHC is a pioneer in leveraging AI for decision-making.
- Aiden Insight is a virtual entity endowed with sophisticated AI capabilities, and is set to revolutionise the way IHC handles the global investment landscape.
- This initiative by IHC is powered by AI capabilities of G42 in collaboration with Microsoft, setting a new benchmark for artificial intelligence development.
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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
22 killed in Israeli air strikes across Gaza
The Israeli military has stepped up its Gaza offensive in recent days in what it has described as a renewed...
Geostrategy
Company News
Latest News
Netanyahu thanks Trump for weapons to ‘finish the job’ against Iran axis
Jerusalem, Undefined - Israeli Prime Minister Benjamin Netanyahu on Sunday thanked US President Donald Trump for sending munitions held up...
Geostrategy
Israel blocks humanitarian aid to Gaza as ceasefire’s first phase ends, sparking global outrage
Truce mediators Egypt and Qatar accused Israel of blatantly violating the ceasefire deal by halting the aid, a move left trucks...
Geostrategy
PKK declares ceasefire with Turkey after 40 years of armed struggle
Istanbul, Turkey - Outlawed Kurdish militants on Saturday declared a ceasefire with Turkey following a landmark call by jailed PKK...
Most Read
Arts & Culture
Wild AI, a royal letter and big hugs – a week in Trumpworld
Washington, United States - President Donald Trump closed out a packed week at the White House after hosting a string...
- Last week, Trump branded elected Ukrainian leader Volodymyr Zelensky a "dictator" -- but things change fast in this administration
- "Did I say that? I can't believe I said that," Trump responded with a slight grin when asked if his opinion had evolved
Geostrategy
Trump and Zelensky clash in heated Oval Office meeting over Ukraine peace deal
During a tense meeting at the White House, Trump and Zelensky argued over the war with Russia, with Trump accusing...
- Zelensky was at the White House to sign a deal on sharing Ukraine's mineral riches and discuss a peace deal with Russia, despite the US president recently branding him a dictator
- Tempers frayed after Vice President JD Vance said that "diplomacy" was needed to end the war. Zelensky asked "what kind of diplomacy" and Vance accused him of being disrespectful
Science
Microsoft retires Skype, the online voice and video call pioneer
San Francisco, United States - Microsoft on Friday announced it was retiring Skype, the online voice and video call pioneer...
- Skype was founded in 2003 by Scandinavians Niklas Zennstrom and Janus Friis in Estonia, revolutionizing internet communication by offering free voice calls
- Over the years, and as internet speeds improved, Skype evolved to include video calls, instant messaging, file sharing and group communication features