General Gulf inflation rate logs 1.7% by end of Dec 2024
Muscat, Oman -- The general inflation rate in the GCC countries rose by 1.7 percent at the end of December...
Business
The US towns that took on ‘forever chemical’ giants — and won
Washington, United States -- No corner of Earth is untouched. From Tibet to Antarctica, so-called "forever chemicals" have seeped into...
Geostrategy
Geostrategy
US uses unarmed Pentagon assets to locate hostages in Gaza: US official
Washington, United States - The US is using unarmed assets of the Department of Defense to help locate hostages held...
- The two Americans that were able to get out of Gaza a couple of weeks ago proved it was possible, the official went on to say
- The situation in the Middle East sharply escalated following an incursion of Hamas militants from the Gaza Strip into Israel on October 7
Business
Saudi Arabian ministry issues 174 industrial licenses
RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Industry and Mineral Resources announced issuing 174 new industrial licenses in September,...
- The total value of the 174 new industrial licenses in September is US$1.4 billion (SAR 5.3 billion).
- A total of 82 factories started production in September, with investments worth US$506 million.
Business
Empower 9M revenue $618m
Firm paid cash dividend of US$115 million.
- For nine months period ending on September 30, 2023, Empower’s revenue and EBITDA grew by 9.5 percent and 7.5 percent respectively.
- On an absolute basis, Empower reported a net profit of US$186 million (AED 685 million) for the nine-month period ending September 2023.
Geostrategy
Hamas ready to swap prisoners with Israel, says official
NEW YORK, US - Hamas is ready for a "complete compromise" deal on the issue of swapping hostages with Israel,...
- The Hamas representative said that the group wants to continue fighting against the occupation.
- The group said that it has the legal right to fight against the occupation under international law.
UAE president, rulers of Emirates celebrate flag day
Abu Dhabi, UAE -- The UAE President Sheikh Mohamed bin Zayed Al Nahyan and the Supreme Council Members, rulers of the Emirates,...
- The leaders expressed their utmost pride on this precious occasion, stressing that the celebration symbolizes their unity
- The Flag Day was first celebrated in 2013 to celebrate the accession of Sheikh Khalifa as President of the UAE in 2004
Geostrategy
Blinken’s visit to Israel to focus on minimizing civilian casualties
Washington, United States - US Secretary of State Antony Blinken who arrived in Israel today on a diplomatic visit will...
- Blinken also intends to focus on the future of Gaza post-Hamas, exploring avenues for humanitarian aid to reach the area and strategies to prevent the conflict from spreading
- The conflict in Gaza, which began when Hamas militants breached the border on October 7, has resulted in a significant loss of life and an escalating humanitarian crisis
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
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
General Gulf inflation rate logs 1.7% by end of Dec 2024
Muscat, Oman -- The general inflation rate in the GCC countries rose by 1.7 percent at the end of December...
Business
Company News
Latest News
Du, Samsung ink agreement
Business
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...
Geostrategy
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...
Arts & Culture
Most Read
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.