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...
Business
Geostrategy
Russian Foreign Ministry specifies conditions for resuming grain deal
Moscow, Russia - Moscow on Thursday reiterated the need to fully implement the provisions of the Russia-UN memorandum for the...
- The implementation of the grain deal, an agreement on a corridor for ships with Ukrainian grain concluded in July 2022, was terminated on July 17
- Russian President Vladimir Putin previously noted that the terms of the deal with regard to Russia were not met, despite the efforts of the UN
Business
ADX partners with HSBC to develop digital assets
Abu Dhabi, UAE - Abu Dhabi Securities Exchange (ADX) and HSBC Bank Middle East Limited are working together in the...
- The initiative leverages the investment product knowledge of ADX, and HSBC’s investment banking, capital markets and blockchain capabilities.
- Digital bonds are financial instruments that are created and managed using blockchain and smart contract technology to create efficiencies in capital markets
Geostrategy
Israeli Prime Minister orders hunt for Hamas leaders: Seymour Hersh
New York, United States - Israeli Prime Minister Benjamin Netanyahu reportedly ordered Israeli intelligence agencies to track and assassinate all...
- Hersh claims that, based on information from a "well-informed Israeli," Netanyahu tasked intelligence agencies with a mission to eliminate Hamas leaders
- The directive is said to extend to the families of Hamas political and military leaders, including their spouses, siblings, children, and parents
Americana Restaurants reports $1,897m revenue
The company's adjusted EBITDA reaching $446.5 million.
- Profitability remained a key highlight, with the company's adjusted EBITDA reaching $446.5 million for the first nine months of 2023
- The company's steady expansion continued, adding 184 gross new restaurants, bringing the total portfolio to 2,338 restaurants
Geostrategy
Saudi defense minister meets Blinken, Lloyd over Gaza war
Washington, United States - Saudi Minister of Defense, Prince Khalid bin Salman bin Abdulaziz met the US Secretary of State...
- The focus of the meeting with Blinken was the ongoing Israeli-Palestine conflict, with discussions centered on joint efforts and coordination to de-escalate
- Prince Khalid also met Austin at the Pentagon and discussions focused on bilateral affairs and the situation in Middle East
Economy
No-oil trade between UAE, Jordan reached $4.5 bn in 2022
Abu Dhabi, UAE - The non-oil trade volume between the UAE and Jordan has reached AED16.5 billion ($4.5 billion) in...
- The Abu Dhabi Fund for Development has contributed to financing numerous development projects in Jordan
- The fund, with an allocation of $10 billion, is geared to propel industrial development in the region and diversify economies
Business
Houthi missile, drone attacks at Israel create spillover fears
Dubai, UAE - The Houthi movement, which is part of the "Axis of Resistance" supported by Iran, has expressed its...
- Houthi military spokesperson Yahya Saree announced in a televised statement quoted by Reuters that they had launched a number of ballistic missiles and drones toward Israel
- Israel's National Security Adviser, Tzachi Hanegbi, described the Houthi attacks as intolerable but did not provide specific details on how Israel might respond
Geostrategy
Around 420 children killed or injured in Gaza daily: UNICEF
Rabat, Morocco - On average, around 420 children are killed or injured every day in Israel’s attacks on the Gaza...
- Reportedly more than 3,450 children killed; staggeringly this rises significantly every day, UNICEF spokesperson said.
- Women and children constitute about 70% of those killed in the Gaza Strip, UNRWA official Philippe Lazzarini said
Geostrategy
The ‘Pax Americana,’ the ‘American world’ with a single hegemon is crumbling: Putin
Novo-Ogaryovo, Russia: The United States and its satellites are benefiting from conflicts in the Middle East and other parts of...
- The US as a global superpower is becoming weaker, losing its positions, and everyone sees it, understands it, Russian president said
- The United States ruling elites and their satellites are the major beneficiaries of the global instability, Putin said about conflict in Gaza
Geostrategy
Biblical-scale catastrophe unfolding in Gaza Strip: Russia’s UN envoy
United Nations, New York - A humanitarian catastrophe on a biblical scale is unfolding in the Gaza Strip, Russia’s Permanent...
- The number of fatalities in the enclave has surpassed 8,000 people, half of whom are women and children, the envoy pointed out
- Over 2,000 people remain under the rubble, more than 21,000 sustained wounds while internally displaced people number 1.6 million, he added
Company News
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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...
Geostrategy
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...
Business
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Business
Middle East and Africa smartphone shipments surge 30% YoY in Q4 2023
Dubai, Riyadh - Smartphone shipments in the Middle East and Africa (MEA) region witnessed a remarkable surge, growing by 30%...
- For the entire year of 2023, smartphone shipments in the MEA region increased by 11% YoY, reflecting an upward trend in consumer sentiment
- The MEA region demonstrated the highest YoY growth globally during this period, attributed to improved economic conditions and rebounding consumer demand
Arts & Culture
Red Sea Global releases ‘Red Sea Waves,’ its first music album
Riyadh, Saudi Arabia - Red Sea Global (RSG), the developer behind The Red Sea and Amaala, the Saudi tourism destinations,...
- The album is the result of collaboration between Saudi, Egyptian, Sudanese, Somali, and other artists
- The album features 12 tracks, each of which is characterized by a different genre and origin
Business
EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn
ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and...
- EDB’s flexible financing solutions and patient debt approach have significantly bolstered industrial growth.
- EDB has approved $353 million in financing under the Credit Guarantee Scheme with partner banks in UAE.