Saudi airline resumes first Iran hajj flights since 2015
Riyadh, Saudi Arabia -- A Saudi airline has resumed flights for Iranian hajj pilgrims to the kingdom for the first...
Geostrategy
US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...
Business
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
Geostrategy
Saudi civil aviation authority announces economic policy of sector
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) has announced the economic policy of the civil aviation...
- The economic policy aims to increase the operational performance of the Kingdom's airports and improve the performance of national carriers.
- This is to help change the Kingdom into a global destination for transport and shipping services by providing infrastructure attractive to foreign investment.
Business
Borouge reports 22% Q3 2023 net profit
The company has issued a dividend of $1.3 billion.
- Borouge’s Value Enhancement Programme delivered a $420 million positive impact in the first nine months of 2023
- The company has issued a dividend of $1.3 billion for the 2023 financial year, which equates to a 6.3% current dividend yield
Business
SABIC Agri-Nutrients profit falls
SABIC Agri-Nutrients Q3 net profit fell 55% to $280 million.
- Revenue fell 40 percent year-on-year (YoY) to US$712 million (SAR2.67 billion) in the three months ended September 30, 2023.
- Net profit dropped 66 percent to US$714 million (SAR 2.68 billion) in the first nine months of 2023 compared to US$2 billion a year ago.
Economy
Saudi Fund for Development signs $100m loan pact to support the water sector in Argentina
Riyadh, Saudi Arabia - Saudi Fund for Development (SFD) on Sunday signed a $100 million loan agreement to support the...
- The agreement will support the growing demand for potable water in Argentina’s provinces of Santa Fe and Córdoba
- Phase 1 of the project will develop from Coronda, in the province of Santa Fe, to San Francisco, in the province of Córdoba
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Saudi airline resumes first Iran hajj flights since 2015
Riyadh, Saudi Arabia -- A Saudi airline has resumed flights for Iranian hajj pilgrims to the kingdom for the first...
Geostrategy
Company News
Du, Samsung ink agreement
Business
Latest News
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,...
Economy
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...
Geostrategy
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
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Business
UAE stocks see US$1.7bn inflow, IHC, Emaar lead
ABU DHABI, UAE- The UAE stock markets attracted liquidity of nearly AED6.5 billion during the week's trading, with the focus...
- The weekly liquidity in the Abu Dhabi market was US$1.2 billion (AED4.57 billion).
- The weekly liquidity in the in the Dubai market was US$517 million (AED1.9 billion).
Business
CBI, zypl.ai ink partnership
The pact aligns with CBI’s plan to support innovation in UAE.
- CBI, zypl.ai partnership signifies a strategic entry into using AI implementation for advanced credit scoring.
- CBI plans to further enhance operational efficiencies to ensure a swift and seamless lending experience.
Geostrategy
UAE suspends coordination of humanitarian aid with Israel
Dubai, UAE - The United Arab Emirates (UAE) has decided to halt its coordination of humanitarian aid with Israel following...
- According to reports, the Emirati foreign ministry has expressed its outrage to the Israeli ambassador Amir Hayek over the death of seven World Central Kitchen workers in Gaza
- Efforts to address the situation are underway, with Israel's Foreign Minister, Israel Katz, engaging in a phone conversation with his Emirati counterpart, Abdullah bin Zayed