Saudi to bring in more tourists from the Caribbean with expanded eVisa program
Riyadh, Saudi Arabia – The Saudi Tourism Authority (STA), in collaboration with the Saudi Ministry of Tourism, has announced the expansion of...
Business
Putin talks to Raisi, expresses hope for restraint in Middle East
Moscow, Russia - Russian President Vladimir Putin and his Iranian counterpart, Ebrahim Raisi, discussed the latest escalation in the Middle...
Geostrategy
Geostrategy
Pakistan applies for BRICS membership in 2024: envoy to Russia
Moscow, Russia - Pakistan has filed an application to join the BRICS group of nations in 2024 and is counting...
- When asked whether the country has filed its BRICS membership bid, the diplomat replied that Pakistan has done it
- He confirmed that Islamabad plans to join the group under Russia’s presidency in 2024
Economy
UAE approves official holidays calendar for govt, private sectors for 2024
UAE, Dubai - UAE has approved the year 2024 official holidays calendar for both public and private sectors. As part of...
- The resolution aims to enable all community members working in various sectors in the UAE, as well as families, to plan ahead for holidays, travel and personal activities
- The UAE public holidays calendar includes 12 Rabi` al-Awwal 1446 AH which marks the Prophet Mohammed’s (PBUH) birthday, and 2, 3 December as the National Day holidays in 2024
Business
Yalla 9M revenue at $237.9m
The results underscore the firm’s robust financial performance.
- The company's net margin remained exceptionally high at 41.4 percent, highlighting its strong monetization capabilities.
- Yalla's average monthly active users experienced significant growth, surging by 13.6 percent to 35.1 million in Q3 2023.
Business
DTC sets IPO offer price range
Final offer price will be fixed through a book-building process
- The company announced that the offer price range had been set between US$0.49 (AED1.80) and US$0.5 (AED1.85) per share.
- This implies a market capitalization at the time of listing of between US$1.2 billion (AED4.5 billion) and US$1.25 billion (AED4.6 billion).
Geostrategy
Israel designates Lashkar-e-Taiba as terror outfit
Israel marks the 15th anniversary of the 26/11 Mumbai attacks by designating Lashkar-e-Taiba (LeT), a Pakistan based militant group, as...
- LeT was involved in the tragic Mumbai attacks of November 26, 2008, where six Jewish victims, including two Israeli nationals, lost their lives at the Chabad House
- Israeli embassy highlighted LeT's responsibility for the murder of hundreds of Indians, emphasizing the lingering impact of their actions
COP28 turns attention to potent methane emissions
Methane -- which is potent but relatively short-lived -- is a key target for countries wanting to slash emissions quickly...
- Methane is the second largest contributor to climate change, accounting for around 16 percent of the warming effect
- It remains in the atmosphere for only about 10 years, but has a much more powerful warming impact than CO2
Business
L&T energy hydrocarbon unit clinches mega deal in the Middle East
New Delhi, India - The L&T Energy Hydrocarbon (LTEH), hydrocarbon business unit of Larsen & Toubro (L&T), said on Monday...
- The scope of work comprises engineering, procurement, construction and installation of a new large offshore platform
- In October also, LTEH secured a major contract worth over Rs 15,000 crore ($20 billion) from a Middle Eastern client
Geostrategy
Putin to speak at online BRICS summit on Middle East
Moscow, Russia - President Vladimir Putin will take part in an online BRICS summit on the escalation of the situation...
- According to the press service of the president of South Africa, the current BRICS’ presidency, the meeting will focus, in particular, on the situation in the Gaza Strip
- United Nations Secretary General Antonio Guterres will take part in the meeting, which is expected to yield a joint statement
Business
PureHealth to list on ADX
The company is expected to start trading on ADX in December 2023.
- Subject to obtaining regulatory approvals and other relevant considerations the company is expected that trading on ADX will commence in December 2023
- In May 2023, PureHealth completed its acquisition of Ardent Health Services, which is USA’s fourth largest private healthcare group
Economy
Foreign investors’ ownership in Saudi market surges 300%
Riyadh, Saudi Arabia - The Saudi capital market has witnessed a surge in foreign investments, with the value soaring by...
- This exponential growth accounts for 14.2% of the total value of free float in the main market, compared to SAR 86.86 billion ($23.48 billion) in 2018
- Since allowing direct foreign investment in 2015, the Saudi Capital Market has evolved into a hub where foreign investors actively engage in daily trading
Saudi to bring in more tourists from the Caribbean with expanded eVisa program
Riyadh, Saudi Arabia – The Saudi Tourism Authority (STA), in collaboration with the Saudi Ministry of Tourism, has announced the expansion of...
Business
Company News
Latest News
Saudi Arabia unveils its man shaped AI robot Mohammad
Riyadh, Saudi Arabia - Saudi Arabia unveiled its first male humanoid robot ‘Muhammad’ during the second edition of DeepFast in...
Science
UAE astronauts AlMatrooshi and AlMulla graduate in space program at NASA
Dubai, UAE - The Mohammed Bin Rashid Space Centre (MBRSC) on Tuesday announced the graduation of Emirati astronauts Nora AlMatrooshi...
Science
BRICS to create blockchain-based payment system: Kremlin aide
Moscow, Russia – BRICS will work to create an independent payment system based on digital currencies and blockchain, Kremlin aide...
Geostrategy
Most Read
UAE F&B sector set to soar, projected to reach $20bn in 2024
Dubai, UAE - The UAE’s foodservice market is poised to reach $19.98 billion in 2024, with further projections indicating a substantial...
- The report emphasizes the robust expansion of the F&B sector, forecasting a compound annual growth rate (CAGR) of 17.09%
- Fine dining is experiencing substantial growth with annual increases of almost 20% in Dubai and 33% in Abu Dhabi
Economy
Saudi Arabia takes the lead in global road connectivity rankings: minister
Riyadh, Saudi Arabia - Saudi Arabia has earned the distinction of being the world's most connected country in terms of...
- Al-Jasser highlighted a remarkable decrease of over 50 percent in serious accidents, deaths, and injuries in recent years
- The ongoing campaign, now in its fourth year, seeks to enhance the efficiency and safety of the extensive road network, the minister added
Business
EDGE Group, Indra form JV
It will make next-generation radar systems in UAE.
- The new business entity will be granted prime rights for current and future non-NATO and non-EU orders awarded to Indra.
- The JV will place a strategic focus on the continued development of sophisticated technologies, innovation and global market.