Trump to close deal-making Gulf tour in UAE, announces big Boeing order for Qatar Airways
US President Donald Trump on Thursday closes a Middle East tour in the United Arab Emirates as he focuses squarely...
Geostrategy
Economy
UAE Minister Al Gergawi backs ‘curiosity’ and ‘equity’ at World Economic Forum
Dubai, United Arab Emirates – Considering opposing views, exchanging ideas and developing pathways for collaboration are essential to improving lives...
- UAE Minister of Cabinet Affairs Mohammad Abdullah Al Gergawi called for asking big questions to create a better future
- Panelists in the opening plenary made the case for connecting the dots across industries and disciplines
Geostrategy
Israel-Palestinian conflict: Chinese Foreign Minister to visit Middle East next week
Beijing, China - Chinese Foreign Minister Wang Yi is embarking on a visit to the Middle East next week, state...
- Wang Yi is expected to engage with various stakeholders, including Israeli and Palestinian officials, as well as regional partners
- The visit is aimed at promoting de-escalation, as well as strengthening coordination with all parties involved in the conflict
Business
Fourth edition of Riyadh Season unveils its promotional video
Riyadh, Saudi Arabia – Riyadh Season's fourth edition has unveiled a promotional video featuring a range of scenes highlighting its...
- The video includes the presence of the global boxing icon Mike Tyson, who is a partner in the first specialized boxing club in Boulevard City
- It highlights the rapid developments in the entertainment sector in the Kingdom, the global nature of Riyadh Season, and the diversity of the activities and events it hosts
Economy
Dubai’s economy grows 3.2 percent in H1 2023
DUBAI, UAE – The Emirate's economy grew 3.2 percent in H1 2023 to reach US$60.9 billion (AED223.8 billion). The performance...
- Trade activities achieved an added value of US$14.5 billion in H1 2023, growing by 1.7 percent compared to the same period in 2022.
- Trade activities are vital for Dubai’s economy and for the wider region, as they effectively contribute to sustainability and economic prosperity.
Geostrategy
Saudi Arabia puts normalization talks with Israel on hold: reports
Riyadh, Saudi Arabia - Saudi Arabia has reportedly decided to suspend peace talks with Israel and the United States, Bloomberg...
- Although the talks have not been terminated, they are temporarily frozen until the violence in the region subsides, reports said
- Saudi Arabia's Crown Prince and Prime Minister Mohammed bin Salman, also engaged in a conversation with Iran's president this week
Economy
Gold prices soar over 3% amid escalating Middle East conflict
Dubai, UAE - Gold prices surged over 3% on Friday, heading for their most robust weekly performance in seven months,...
- Investors closely monitored the intensifying conflict in the Middle East, which has been unsettling markets
- Meanwhile, spot silver saw a 4% rise to $22.72 per ounce, marking its first weekly gain in three weeks
Business
Smart and Autonomous Vehicles Industries cluster launches at Masdar City
Abu Dhabi, UAE - A Smart and Autonomous Vehicles Industries (SAVI) cluster was launched at Masdar City on Friday. It...
- SAVI will support innovation and the commercialization of smart and autonomous vehicle technologies in the UAE
- The Abu Dhabi Department of Economic Development (ADDED) and Abu Dhabi Investment Office (ADIO) are spearheading the development of SAVI
Ayodhya mosque design in India altered to resemble Middle East
Lucknow, India - The Indo-Islamic Cultural Foundation announced a change in the design of the mosque to be constructed on...
- The new design, prepared by a Pune-based architect, was finalized during a meeting in Mumbai
- The mosque will be larger than the previous plan and will be capable of accommodating over 5,000 people upon completion
Economy
Non-cash transactions in Egypt set to reach $16.34 billion in 2023
Cairo, Egypt - The Egyptian market is projected to reach an impressive $16.34 billion in non-cash transactions in 2023, while...
- The report suggests that the global growth will continue to accelerate, potentially reaching 2.3 trillion transactions by 2027, with an annual growth rate of 15%
- In Egypt, digital payments are also on the rise, with a predicted annual growth rate of 14.03% from 2023 to 2027
Business
UAE sourced 30% of its gems and jewelry imports from India
Dubai, UAE - The gem and jewelry trade between India and the United Arab Emirates (UAE) has seen substantial growth,...
- The UAE's jewelry imports from India amount to $3.12 billion out of the total $10.48 billion from various parts of the world
- The revelation was made during his address at the third edition of the International Gem and Jewelry Show in Dubai
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
Trump to close deal-making Gulf tour in UAE, announces big Boeing order for Qatar Airways
US President Donald Trump on Thursday closes a Middle East tour in the United Arab Emirates as he focuses squarely...
Geostrategy
Company News
Latest News
Saudi tourism hits record $36 billion inbound spending in 2023
Riyadh, Saudi Arabia - Saudi Arabia's tourism sector contributed to a record-breaking $36 (SR135 billion) in spending by international visitors....
Economy
Digital transformation fuels GCC banks’ growth
The banking sector across the GCC has demonstrated formidable growth and profitability, with Qatar leading in several key performance indicators,...
Business
Sheikh Hamdan praises ADNOC’s efforts in using AI in production process
ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...
Business
Most Read
Business
Abu Dhabi Chamber sets up working group to support startups, SMEs
ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...
- This initiative aims to support and represent the interests of startups and SMEs in the region.
- The goal is to make Abu Dhabi the top choice for business in the Middle East and North Africa by 2025.
Business
TAQA, JERA sign pact with SATORP to develop plant in Saudi Arabia
ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...
- They will develop a greenfield industrial steam and electricity cogeneration plant for Amiral petrochemical complex.
- The Amiral petrochemical complex is expected to house one of the largest mixed-load steam crackers in the Arab Gulf region.
Economy
Rise in remittances hikes demand for Jordanian dinar, says chamber of commerce
AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar. Exchange...
- There are positive indicators suggesting a stabilization in Jordan’s economy.
- Presently the currency exchange sector comprises 250 firms across Jordan.