UK halts trade talks with Israel, summons envoy over Gaza
Foreign Secretary David Lammy accused Israeli Prime Minister Benjamin Netanyahu's government of "egregious actions and rhetoric" over its expansion of...
Geostrategy
Israel army announces ‘extensive ground operations’ in ramped-up Gaza campaign
Since a two-month ceasefire collapsed in March as Israel resumed its offensive, negotiations mediated by Qatar, Egypt and the United...
Geostrategy
Business
Naufar partners with MEEZA
MEEZA is a Managed IT Service and Solutions provider in Qatar.
- Naufar aims to overhaul its IT infrastructure by leveraging MEEZA's expertise to migrate to the secure and innovative Azure cloud platform
- The move is poised to enhance operational efficiency, reinforce data security measures, and elevate patient care services through cutting-edge Microsoft Azure capabilities
Business
EDGE signs MoU with MBRSC
The pact sets up a framework for knowledge, data sharing
- The agreement exemplifies the strength of local partnerships in the UAE.
- It underlines EDGE's commitment to expand its expertise into the space sector.
Geostrategy
Gaza exposed double standards, selective application of international law: Saudi Arabia
exposed the double standards and selective application of international laws and UN resolutions by the global community. Representing Saudi Crown...
- Saudi finance minister Mohammed Al-Jadaan said that the Israeli invasion of the besieged Gaza was in flagrant violation of international laws
- He underlined Saudi Arabia’s rejection of targeting civilians and infrastructure, calling for an immediate halt to Israeli military operations in Gaza
FBI completes Rainbow Bridge car explosion, says it was traffic accident
According to witnesses, the car was running at a speed of more than 160 km/h. As a result, the car...
- The accident occurred on Wednesday when a car rammed the checkpoint on the US side of the Rainbow Bridge
- Commissioned in 1941, the 440-meter Rainbow Bridge is located near the Niagara Falls and links Canada and the United States
Business
UAE company secures African land the size of the UK for carbon offset projects: report
Dubai, UAE - Blue Carbon, a Dubai-based company has secured expansive forested land across several African nations, a CNN report...
- The area is earmarked for conservation projects aimed at safeguarding forests and preventing significant amounts of carbon dioxide from entering the atmosphere
- Forest conservation agreements involving Zimbabwe, Zambia, Kenya, Liberia, and Tanzania were announced in the months leading up to the COP28 climate summit
Economy
World Bank anticipates 4.5% growth in UAE’s non-oil economy in 2023
Riyadh, Saudi Arabia - The World Bank has projected a 3.4% growth in the real Gross Domestic Product (GDP) of...
- The WB report has projected a 3.4% growth in the real Gross Domestic Product of the UAE by the year 2023, with expectations of further increase to 3.7% in 2024
- According to the report, the Gulf Cooperation Council (GCC) region is estimated to grow by 1% in 2023 before picking up again to 3.6 and 3.7% in 2024 and 2025
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).
Most Read
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
UK halts trade talks with Israel, summons envoy over Gaza
Foreign Secretary David Lammy accused Israeli Prime Minister Benjamin Netanyahu's government of "egregious actions and rhetoric" over its expansion of...
Geostrategy
Company News
Latest News
Saudi Arabia constitutes center for promoting moderate Islam: North Macedonia Mufti
Skopje – Islamic Union President and Republic of North Macedonia Mufti Sheikh Hafiz Şakir Fetahu stressed that Saudi Arabia has...
Saudi Arabia’s tourist spending reaches $40bn: minister
Saudi Arabia’s Minister of Tourism Ahmed Al-Khateeb highlights the upcoming launch of a tourist visa aimed at drawing more international...
Business
Chinese company to build Saudi Arabia’s first ocean park
Riyadh, Saudi Arabia - Haichang Ocean Park Holdings, China's largest ocean theme park operator, announced plans on Thursday to build...
Business
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Business
‘Digital transformation levels the playing field for GCC small businesses’
Digitalization is revolutionizing GCC entrepreneurship, offering vast opportunities and challenges, and driving innovation and growth, Jigar Sagar, an influential figure...
- GCC entrepreneurs benefit from reduced operational costs and enhanced productivity through digital technologies like automation, AI, and data analytics, says Sagar
- Women entrepreneurs in the GCC face unique challenges but show remarkable resilience and determination to succeed in business, he adds
Business
UAE realty sector poised for growth as central bank forecasts 6.2% GDP growth in 2025
Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate...
- Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate market forward
- As the UAE continues to strengthen its economic diversification efforts, the real estate sector remains a cornerstone of stability and growth
Business
Aramco, Sempra ink Port Arthur LNG royalties deal
Aramco's 25% participation in Port Arthur LNG Phase 2 aims to expand its gas portfolio and meet the world's growing...
- Port Arthur LNG is a natural gas liquefaction and export terminal in southeast Texas with direct access to the Gulf of Mexico
- Sempra Infrastructure is actively advancing infrastructure projects within the Port Arthur Energy Hub, addressing the rising demand for lower-carbon fuels