8 killed in overnight strikes on Israel, Iran’s defense headquarters hit
In the central region, at least four people, including a 10-year-old boy, were killed and around 100 others wounded in...
Geostrategy
Iraq’s first ever director in Cannes wins best feature debut
Hasan Hadi won the top prize for his childhood adventure under economic sanctions in "The President's Cake".
Arts & Culture
Economy
Web Summit: 24 MoUs signed between Qatari institutions and global tech firms
Doha, Qatar - Web Summit Qatar 2024, the world's largest tech events debut in the Middle East and Africa, ended...
- The MoUs included the one between and the Web Summit whereby the former will sponsor the summit over the next four years
- Over four days, the summit hosted 15,453 attendees from 118 countries, who witnessed the tech innovations, 10 percent of which came from Qatar
Economy
Unit 4 of UAE’s Barakah Nuclear Energy Plant commissioned
Abu Dhabi, UAE - The Emirates Nuclear Energy Corporation (ENEC) on Friday announced that its operating and maintenance subsidiary, Nawah...
- The reactor has begun initial production of heat through nuclear fission, used for generating electricity by turning a turbine with steam
- In the coming weeks, Unit 4 will link to the national electricity grid, entering a testing phase to gradually increase its power output to full capacity
Business
Gold hovers near a month high on slowing US inflation
ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while...
- Gold rose after data suggested easing US price pressures.
- Traders awaited remarks from US Federal Reserve officials.
UAE real estate sector transforms with cross-border payments revolution
Dubai, UAE - Leading financial institutions are spearheading a transformative wave in the UAE real estate sector through the introduction...
- The initiative is poised to enhance accessibility and efficiency for global investors seeking to engage in property investment within the UAE
- Traditionally, the investing in UAE real estate from overseas has been encumbered by complexities associated with cross-border transactions
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
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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
8 killed in overnight strikes on Israel, Iran’s defense headquarters hit
In the central region, at least four people, including a 10-year-old boy, were killed and around 100 others wounded in...
Geostrategy
Company News
Latest News
Muslim nations meet in Jeddah to unite against Trump’s controversial Gaza takeover proposal.
Trump's plan has already united Arab countries in opposition, with Saudi Arabia also hosting Arab leaders two weeks ago to...
Geostrategy
Turkey central bank cuts rate to 42.5% as inflation eases
Istanbul, Turkey - Turkey's central bank on Thursday lowered its key interest rate for a third consecutive time as inflation...
Economy
Arab leaders meet to hash out Gaza plan as Hamas urges against displacement under Trump plan
A draft version of the Egyptian plan seen by AFP lays out a five-year roadmap with a price tag of...
Geostrategy
Most Read
Geostrategy
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...
- Netanyahu has long expressed his opposition to Iran, its nuclear programme and its proxies, which include Palestinian militant group Hamas
- The Israeli leader made similar remarks last month, at a news conference with visiting US Secretary of State Marco Rubio, saying Israel would "finish the job" against Iran
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...
- Early on Sunday Israel had announced a truce extension until mid-April that it said United States Middle East envoy Steve Witkoff had proposed
- But Hamas has repeatedly rejected an extension, instead favouring a transition to the truce deal's second phase that could bring a permanent end to the war.
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...
- The PKK, designated a terrorist group by Turkey, the United States and the European Union, has waged an insurgency since 1984 with the aim of carving out a homeland for Kurds
- Turkey's vice president Cevdet Yilmaz said "a new phase" began toward achieving the goal of a "terror-free Turkey", without making any mention of the PKK statement