Dbeibah calls on armed groups to align with state
Days of clashes in the capital have pitted an armed group aligned with the Tripoli-based government against groups it has...
Geostrategy
Business
RAKBANK reports highest ever net profit
The bank's income increased by 35.4% year-on-year.
- The bank's income increased by 35.4% year-on-year, thanks to continued growth in low-cost deposits and expansion across all segments of its business
- The bank maintained strong credit quality, with a cost of risk at 2.5% and an impaired loan coverage ratio of 210.3% for the YTD through September 2023
Economy
China, GCC members to deepen Belt and Road trade cooperation: Chinese minister
Guangzhou, China - China is committed to enhancing trade and investment ties with the Gulf Cooperation Council (GCC) as part...
- The announcement came during a meeting in Guangzhou which brought together trade ministers from China and the six member states of the GCC
- During the meeting, both sides pledged to align Belt and Road cooperation with the development strategies of GCC member countries
Business
Aldar achieves record occupancy in Grade A commercial properties in Abu Dhabi
Abu Dhabi, UAE - Aldar Properties achieved a 97% occupancy rate across its prime Grade A commercial properties, which includes...
- Occupancy rates at the towers located at ADGM, the international financial centre on Al Maryah Island, stand at 99% compared to 79% when acquired by Aldar in 2022
- Aldar’s other Grade A commercial properties in Abu Dhabi, HQ and International Tower currently hold an average occupancy rate of 95%
Geostrategy
Premises of two Gaza hospitals shelled by Israel: report
Cairo, Israel - The areas near Al-Shifa Hospital in Gaza City and Al-Quds Hospital in the western part of the...
- Earlier in a blast on al-Ahli Arab Hospital, which each side blamed on the other, around 500 Palestinian were reported to have lost their lives
- Tensions flared up again in the region on October 7 when militants from the Gaza-based Palestinian group Hamas staged a surprise incursion into Israeli territory
Economy
Saudi, Malaysia bilateral trade rose 160% in 2022
Riyadh, Saudi Arabia - Bilateral trade between Saudi Arabia and Malaysia rose 160% in 2022 compared to 2021, revealed the...
- The two countries decided to strengthen the existing cooperation in the supply of crude oil and its derivatives
- The Saudi side reaffirmed that the Kingdom will continue to be Malaysia's largest partner for crude oil supplies
Economy
World Investment Forum 2023 ends with call for greater private and public investment
Abu Dhabi, UAE – UNCTAD's 8th World Investment Forum came to a close on Friday in Abu Dhabi with a...
- The week-long event saw the convergence of 8,000 participants, including government officials, international organizations, policymakers, 700 CEOs and investors
- Held against the backdrop of a fragmented global economy, the forum addressed the profound impact on global trade and investment
Geostrategy
Israel urges citizens to immediately leave Egypt, Jordan
Israel urged its citizens to immediately leave Egypt and Jordan, the national security council said on Saturday as regional tensions...
- The notice comes just days after Israel recalled its diplomats from Turkey as a security precaution following an earlier request for its citizens to leave as well
- The war ignited after Hamas militants stormed into Israel from the Gaza Strip, taking more than 200 hostages and killing at least 1,400 people
Geostrategy
At least 30% of all housing units in Gaza destroyed or damaged: UN
Geneva, Switzerland - At least 30% of the housing sector in the Gaza Strip has been either destroyed or rendered...
- "Hospitals are on the brink and overcrowded with patients, many awaiting treatment," the OCHA said
- Hundreds of people including children have been trapped beneath the rubble amid airstrikes in Gaza
Saudi Arabia re-elected president of UNWTO executive council
Samarkand, Uzbekistan - The United Nations World Tourism Organization (UNWTO) approved the re-election of Saudi Arabia as president of its...
- During the first presidency of the Kingdom in 2023, plenty of initiatives that comprised partnership, innovation, and progress were launched
- In 2021, the kingdom launched the Sustainable Tourism Global Center during the Saudi Green Initiative in October 2021 to provide best practices to meet the sector needs
Geostrategy
‘Palestinians never die, they always come back’: Bassem Youssef in viral interview
Dubai, UAE - Egyptian comedian and TV host Bassem Youssef's recent interview with British TV host Piers Morgan has garnered...
- When asked about his views on the deadly Hamas attacks on Israel, Youssef expressed concern for the plight of Palestinians in Gaza
- He also made a sarcastic remark, saying, "It's very repetitive. We are used to that... It's just like those Palestinians are very dramatic
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Dbeibah calls on armed groups to align with state
Days of clashes in the capital have pitted an armed group aligned with the Tripoli-based government against groups it has...
Geostrategy
Company News
Latest News
Saudi Arabia offers 6 mining opportunities for local, international investors
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources on Wednesday announced six new mining opportunities for...
Economy
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...
EasyLease buys stake in United Trans
This helps EasyLease expand its presence in mobility sector.
Business
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Economy
SAMA: E-payments share reached 70% of total payments in 2023
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) announced on Monday that the share of retail consumer electronic payments...
- The achievement is attributed to the significant growth of payments processed through national payment systems in 2023
- The evolving cost-effective and reliable e-payment system helps enhance transaction efficiency, and support financial stability
Economy
Gross written premium rises by 12.7% in Q4 2023 to US$14bn, says CBUAE
ABU DHABI, UAE - The UAE insurance sector continued to grow in Q4 2023, as reflected by the increase in...
- The number of licenced insurance companies in the UAE remained at 60, the CBUAE announced in its quarterly economic report.
- The insurance of persons and fund accumulation premiums decreased by 12.4 percent YoY.
Economy
Debt, trade barriers drag Asian economies in 2024, says World Bank report
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
- Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5 percent this year from 5.1 percent in 2023.
- A key risk is that the US Federal Reserve and other major central banks might keep interest rates higher than before the pandemic.