Cyberattack to cost UK retailer Marks & Spencer $404 million
London, United Kingdom -- British clothes-to-food retailer Marks and Spencer on Wednesday said a cyberattack affecting its online service is...
Business
The New Travel Mindset: Local Living and Smarter Tech
From immersive local experiences to AI-powered personalization, Muzzammil Ahussain, CEO of Almosafer, shares key trends shaping the future of travel.
Interview
Business
KPMG’s global revenue touches $36bn
The company has outlined a collective investment of $4.2b.
- The announcement came in after KPMG International declared the annual globally aggregated revenues for KPMG firms of US$36b for FY23
- The financial figures highlight robust year-on-year growth of the company, reinforced by a multi-disciplinary approach
Geostrategy
Russia extends ban on entry of trucks from EU, UK, Norway, Ukraine
MOSCOW, RUSSIA - The Russian government has extended the ban on the entry of trucks from the European Union, the...
- “The restriction will remain in effect until the circumstances that served as the basis for its introduction are eliminated,” the Russian Cabinet said.
- The ban was introduced in 2022 as a response to the EU’s decision not to allow trucks with Russian and Belarusian license plates through.
Geostrategy
Sheikh Hamdan approves $41m worth bonus for civilian employees of Dubai govt entities
DUBAI UAE - Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince and Chairman of The Executive Council of...
- The bonuses will be granted to eligible civilian employees based on the criteria set by the DGHR.
- The Dubai Government remains committed to acknowledging excellence and holds in high regard those who make significant contributions
Arts & Culture
10m people attend Riyadh Season 2023 events in first 50 days, says report
RIYADH, SAUDI ARABIA - According to the Riyadh Season, 10 million people took part in the activities organized in the...
- Riyadh Season 2023 started in late October, and since then, it has witnessed a large visitor turnout at all entertainment areas.
- At the Season, visitors can enjoy concerts, exhibitions, festivals and other events in which celebrities and prominent brands participate.
Ukraine says it shot down three Russian Su-34 fighters
Air force commander Mykola Oleshchuk said the Su-34 jets were downed around noon on Friday. In his announcement he noted...
- In his nightly address on Friday, President Volodymyr Zelensky thanked the soldiers who shot down the Russian fighters in the Kherson region
- The Kremlin has not commented on the Ukrainian claims but Russian war blogger Fighterbomber said there had been losses, likely due to the Patriot missile air-defence system
Deyaar, Arady Properties sign MoU
Deyaar is a leading real estate developer in Dubai.
- The MoU outlines the commercial objectives for the project and provides a framework for further negotiations
- Deyaar has developed strategic partnerships with renowned real estate entities in the region and beyond
Geostrategy
Saudi defense minister hosted by UK counterpart at Lancaster House in London
Riyadh, Saudi Arabia — UK's Secretary of State for Defense Grant Shapps welcomed Saudi Arabia's Minister of Defense Prince Khalid bin...
- Upon Prince Khalid bin Salman's arrival, a formal reception ceremony was held, featuring a review of the guard of honor
- The two sides discussed strengthening the strategic partnership between the UK and Saudi Arabia
Economy
UAE insurance sector grows with rise in gross written premiums in Q3 2023
Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) has said that the UAE insurance sector continued to...
- CBUAE stated that by the end of Q3 2023, the number of licensed insurance companies in the UAE remained at 60
- The sector comprised 23 traditional national companies, 10 Takaful national and 27 foreign companies
Economy
Central Bank of Egypt keeps interest rates unchanged
Cairo, Egypt – The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) has kept the current key...
- The decision leaves the overnight deposit rate at 19.25 percent and the overnight lending rate at 20.25 percent
- The MPC noted a decline in key international commodity prices, especially energy, which has eased global inflation pressures
Economy
Saudi EXIM Bank, DBK sign MoU
It will boost the trade between Saudi Arabia and Kazakhstan.
- Under the MoU, both banks have also agreed to exchange information, experiences, and best practices to enhance the development of services and products
- It will also facilitate collaborative research efforts and knowledge sharing to design export credit policies and practices and provide workforce training opportunities
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Cyberattack to cost UK retailer Marks & Spencer $404 million
London, United Kingdom -- British clothes-to-food retailer Marks and Spencer on Wednesday said a cyberattack affecting its online service is...
Business
Company News
Latest News
Iran FM in Saudi for talks on Gaza and Lebanon
Iranian Foreign Minister Abbas Araghchi's arrival in Saudi Arabia aims to address Israeli military aggression in Gaza and Lebanon, seeking...
Geostrategy
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 backs Egypt’s Ras El Hekma megaproject, aims for $110 billion investment
Abu Dhabi, UAE - The UAE Ministry of Investment (MoI) announced today its support and key role in the advancement...
Business
Most Read
Economy
Riyadh leads Saudi Arabia’s date production with record sales
Riyadh, Saudi Arabia - Riyadh is currently hosting the third Seasonal Dates Exhibition, a major economic, social, and tourist event....
- Recent stats confirm Riyadh's leading role in date production, boosting Saudi Arabia's self-sufficiency rate to 124%
- The Riyadh region alone accounts for 436,000 tons of the Kingdom's total annual production of over 1.6 million tons
Economy
Qatar outpaces Saudi Arabia and UAE in tourism growth with 147% surge
Doha, Qatar - Qatar has emerged as the leading player in the Middle East tourism sector, boasting an impressive 147%...
- The surge in tourism can be attributed to Qatar's strategic investments in luxury offerings, and a visa-free entry policy for citizens of 102 countries
- Qatar has effectively leveraged high-profile events like the FIFA World Cup to enhance its global tourism profile, alongside significant infrastructure development
Economy
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...
- A CBUAE report showed the increase in passenger traffic not only reinforces the UAE's status as a global aviation hub but also contributes to the national economy
- The report added that this growth in the aviation sector boosts tourism, trade and employment, further diversifying the UAE's economy