EGA advances plans to build new US aluminum plant
Abu Dhabi, UAE -- Emirates Global Aluminum, the largest ‘premium aluminum’ producer in the world, today announced the progression of...
Business
World Bank announces plans to restart Syria operations
Washington, United States -- The World Bank on Friday said it would restart operation in Syria following a 14-year pause,...
Geostrategy
Geostrategy
Palestine’s Abbas expected in Moscow for talks with Putin soon: Russian diplomat
Moscow, Russia - Palestinian leader Mahmoud Abbas will soon visit Moscow for talks with Russian President Vladimir Putin, a senior...
- Kremlin Spokesman Dmitry Peskov refused to say exactly when Abbas would arrive
- He surmised that the two leaders would primarily discuss the situation in the Middle East
Business
The Arab Open Banking market to grow by 25% annually over next 5 years: report
Dubai, UAE - The Arab Open Banking is expected to experience 25% annual growth over the next five years, a...
- The Arab Monetary Fund will support Arab central banks in adopting effective frameworks for Open Banking and Finance initiatives
- The report covers aspects such as data sharing, consent mechanisms, data security, identification of regulated Third Party Providers
Netanyahu says Israel ‘preparing’ Gaza ground war
Thousands of Gazans are already believed to have died in Israel's aerial assault, with the toll expected to rise substantially...
- Facing ever-louder international calls to temper Israel's ferocious 19-day bombing campaign in the Hamas-controlled territory
- US President Joe Biden is among the foreign leaders stepping up public calls for Israel to "protect innocent civilians"
Geostrategy
Putin warns Israel-Hamas conflict could escalate beyond the Middle East
Moscow, Russia - Russian President Vladimir Putin warned on Wednesday that the Israel-Palestine conflict could potentially extend beyond the Middle...
- Russian leader expressed concern that unnamed forces aimed to exacerbate the situation and draw additional countries and people into the conflict
- He reiterated his country's support for a two-state solution to the Israeli-Palestinian issue, which he believed was the only way to achieve a long-term resolution
Geostrategy
Turkey ready to act as guarantor for Palestine to resolve conflict with Israel: Erdogan
Istanbul, Turkey - Turkey is ready to act as a guarantor country for Palestine in the settlement of the Palestinian-Israeli...
- Turkish president also proposed to convene an international peace conference aimed to resolve the ongoing crisis
- He called on the countries to asses this proposal as soon as possible, to take concrete steps and open the doors to the peace
Economy
High interest rates are here to stay for a longer duration: IMF chief
Riyadh, Saudi Arabia - The world should be prepared that the interest rates are here to stay for a longer...
- Kristalina Georgieva conceded that "interest rates are not just suffocating, they are making life harder."
- She also called on the overburdened countries to restructure debt, promising that the IMF was ready to assist
Business
United Arab Bank’s net profit rises 76%
The total income for the period was approximately $47 million.
- The performance can be attributed to the bank's improved operating performance, resulting in lower expected credit losses and a reduced cost of risk
- The total income for the period was approximately AED174 million ($47 million), showing a remarkable 61% year-on-year increase and a 16% quarter-on-quarter increase
Geostrategy
Israeli-Palestine war: US president calls Saudi Crown Prince
Riyadh, Saudi Arabia - Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud and US President Joe Biden discussed...
- Prince Mohammed underlined the necessity of immediate work to explore means of halting the military operations
- He highlighted rejection of the targeting of civilians in any form as well as the targeting of infrastructure and vital facilities
Business
Saudis need $100s of billions for power investment by 2030: ACWA Power CEO
Riyadh, Saudi Arabia - Saudi Arabia is set to embark on a significant endeavor to expand its power generation capacity,...
- Saudi Arabia aims to construct 60 to 80 gigawatts of power plants utilizing renewable energy sources such as wind and solar
- To facilitate these goals, Saudi Arabia seeks to attract international investment, fostering partnerships with local companies like ACWA Power
Geostrategy
US troops again deploy east of Mediterranean, 40 years after Beirut airport bombing
Beirut, Lebanon - US troops have been redeployed to the eastern Mediterranean, forty years after one of the deadliest attacks...
- On October 23, 1983, a suicide bomber targeted an American military barracks at Beirut International Airport, resulting in the loss of 241 US service members, primarily Marines
- The recent deployment of US forces in the eastern Mediterranean, including the aircraft carrier USS Gerald R. Ford and other warships, is widely viewed as a message to Iran
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
EGA advances plans to build new US aluminum plant
Abu Dhabi, UAE -- Emirates Global Aluminum, the largest ‘premium aluminum’ producer in the world, today announced the progression of...
Business
Company News
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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...
Geostrategy
Saudi Arabia offers 50% discount on accumulated traffic fines before April 18
Riyadh, Saudi Arabia - The Saudi Ministry of Interior has announced a significant measure aimed at reducing the burden of...
Economy
ahli islamic introduces Sharia-compliant Money Market Fund
MUSCAT, OMAN – As part of its investment solutions and Sharia-compliant products and services, ahli islamic, ahlibank’s Islamic banking window,...
Business
Most Read
Rising threat: DDoS attacks demand proactive defense
"Threat actors can employ artificial intelligence (AI) and machine learning (ML) algorithms to identify vulnerabilities and adapt their tactics in...
- DDoS attacks have evolved from simple nuisances to highly sophisticated and coordinated assaults, posing a significant threat to online businesses
- Today's attackers use various techniques, including amplification attacks, which exploit internet protocol vulnerabilities to multiply attack traffic, making mitigation challenging
Business
EasyLease buys stake in United Trans
This helps EasyLease expand its presence in mobility sector.
- United Trans has been at the forefront of transforming the regional transport spectrum.
- The company collaborates with major global organizations across all modes of transport.
Business
flynas receives 50th jetliner out of 120 Airbus A320neo ordered
RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the...
- The deal with Airbus was a strategic step for flynas, consolidating its position as a leading low-cost airline in the Middle East.
- The company is moving forward in its plan to double the fleet size after getting approval to purchase 250 aircraft.