UAE to host 2025 Asia-Pacific amateur championship at Emirates Golf Club
Gotemba, Japan -- The Asia-Pacific Golf Confederation (APGC), the Masters Tournament and The R&A has announced that the 16th Asia-Pacific...
UAE airports see 14.2% passenger traffic surge in H1
Abu Dhabi, UAE -UAE's airports experienced a 14.2 percent increase in passenger traffic, in the first half of 2024, handling...
Economy
Economy
Despite sanctions, Iran oil exports hit six-year high: report
Tehran, Iran - Iran managed to sell an average of 1.56 million barrels per day during the first quarter of...
- The success in oil exports highlights the challenges faced by the US and EU in their efforts to exert pressure on Tehran
- Iran's Oil Minister Javad Owji stated that oil exports generated over $35 billion in revenue in the previous year
Geostrategy
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...
- According to the Kremlin, the Iranian leader said that Iran’s action was limited as he assured Putin that Tehran was not "seeking to escalate tensions further"
- Iran's President Raisi warned that "the slightest action against Iran's interests will definitely be met with a severe, extensive and painful response."
Geostrategy
Iran top security body: Response to Israeli aggression based on Article 51 of UN Charter
Iran’s Supreme National Security Council (SNSC) says the Iranian armed forces’ attack on the Israeli regime was carried out based...
- Iran's SNSC said in its statement that Israel had crossed red lines
- The Islamic Republic does not plan any further military action for now
Business
QFZ, AEMOB to drive EV innovation
AEMOB Forum will be held in Qatar from April 30 to May 2
- The collaboration harnesses QFZ’s unique position in facilitating trade and investment to propel the e-mobility ecosystem forward
- Scheduled to convene in Doha, Qatar from April 30 to May 2, the AEMOB Forum serves as a platform for driverless e-mobility
Geostrategy
Iran offers no response to Israeli strike, if US-secures Gaza truce: report
The Damascus airstrike targeted the Iranian consulate, resulting in the death of IRGC commander Mohammad Reza Zahedi and several other...
- According to a report by Jadeh Iran, Iran has communicated to the United States that it would refrain from retaliating to the airstrike if the US can secure a ceasefire in Gaza
- The anonymous source cited in the report stated that if the US is successful in calming the situation, it would be seen as a significant achievement for the Biden administration
Arts & Culture
Red Sea Fund opens applications for production cycle
Riyadh, Saudi Arabia - The prestigious Red Sea Fund has thrown open its doors to filmmakers across Arab and African...
- From April 6, 2024, directors hailing from Arab and African backgrounds can apply to secure a production grant for their films
- With a minimum runtime requirement of 60 minutes, filmmakers are encouraged to submit their projects
Economy
UAE cements position as a top global investment hub in 2024
UAE ascends to 8th on Kearney's 2024 Foreign Direct Investment Confidence Index, affirming its appeal as a prime investment haven,...
- The Foreign Direct Investment Confidence Index,, now in its 26th iteration, continues to be an authoritative forecast of global FDI trends
- The UAE economy has witnessed extraordinary growth across key sectors that have thrived as a direct result of the nation’s diversification policies
Geostrategy
Tehran, Baghdad to launch maritime passenger transport line
TEHRAN, IRAN – Iran and Iraq will launch the first maritime passenger transport line within the next two months, an...
- Given the readiness of Iran’s Abadan and Khorramshahr ports for the transportation of passengers to the destination of Wasliya and Basra ports in Iraq..
- the officials of the two sides have expressed their readiness for the initiation of the transportation of passengers via sea, Ali Akbar Safaei emphasized.
Business
Air Arabia Egypt marks its first flight to Istanbul
CAIRO, Egypt – Air Arabia Egypt on Sunday commenced its first non-stop flight from Cairo International Airport to Sabiha Gökçen...
- Upon arrival at Istanbul, the flight was greeted with a water cannon salute and a welcome ceremony.
- The newly added route will connect both cities with a frequency of three weekly flights.
Business
Jordanian industrialists call for export diversification
AMMAN, JORDAN – Jordanian industrialists have emphasized the imperative of strategic planning to bolster export diversification, underlining key measures such...
- They called for expanding outreach to foreign markets, fostering collaboration between the government and the industrial sector.
- Jordan has taken several measures to stimulate domestic exports, improve market access and maximize the benefits of existing free trade agreements.
UAE to host 2025 Asia-Pacific amateur championship at Emirates Golf Club
Gotemba, Japan -- The Asia-Pacific Golf Confederation (APGC), the Masters Tournament and The R&A has announced that the 16th Asia-Pacific...
Company News
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Saudi Arabia reforms investment law, simplifies process and investor protection to achieve $100 bn FDI target
The law will ensure equal treatment between domestic and foreign investors, protecting intellectual property and promoting fair competition in line...
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
Saudi Arabia leads GCC travel growth to India with a 40% rise in flight searches: report
Riyadh, Saudi Arabia - Wego, the leading travel app and largest online travel marketplace in the Middle East and North...
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Economy
Pre-tax net profit of Dubai Financial Market rises 74% to $53m in H1 2024
Dubai, Saudi Arabia - Dubai Financial Market (DFM) today announced its consolidated financial results for the period ended June 30,...
- The first half of 2024 saw an increase in trading activity, higher trade values, and a wave of new investors
- Market capitalization of DFM listed companies stands at AED 679 billion (USD 184.8 billion) in the period
Economy
GCC countries host nine million Indians, UAE alone home to 3.55 million
New Delhi, UAE - The number of Indians living in the Gulf Cooperation Council (GCC) countries has crossed nine million,...
- Indians are employed in a wide range of professions from highly qualified fintech, healthcare, information technology, engineering and banking to blue collar jobs
- Within the GCC, the most popular destination for Indian job seekers is the UAE, which hosts 3.55 million Indians, followed by Saudi Arabia, with 2.64 million Indians
Dubai’s GDP tops $31.3 bn in Q1 2024, growing 3.2%
The financial and insurance sector saw a 5.6% rise, reaching USD 4.1 billion (AED 15.1 billion), supported by significant growth...
- The transportation and storage sector grew by 5.6 percent, contributing USD 4.2 billion (AED 15.4 billion) to the GDP, driven by increased demand for national carriers' services
- The financial and insurance sector also saw a 5.6 percent rise, reaching USD 4.1 billion (AED 15.1 billion), supported by significant growth in credit and deposit balances