Wealthy Asians consider shifting assets from Dubai amid Iran war fears: report
Some wealthy Asian investors are considering moving assets out of Dubai following Iranian missile and drone attacks on the city,...
Economy
Saudi Arabia strengthens global leadership in open data
Riyadh, Saudi Arabia—The Kingdom of Saudi Arabia continues to strengthen its global leadership in open data through a comprehensive national...
Economy
Business
Luberef net profit falls 7% in Q1
A fall in by-products sales leads to profit dip.
- This is in addition to a decrease in by-products crack margins, despite an increase in base oil crack margins.
- Total shareholders’ equity, no minority interest, stood at SAR 4.07 billion as of March 31, 2025.
Geostrategy
Global rice output in 2024/25 likely to expand by 1.5%: FAO
Rome, Italy -- The Food and Agriculture Organization of the United Nations (FAO) released a new Cereal Supply and Demand...
- FAO’s latest forecast for 2025 wheat production is pegged at 795 million tons, on par with the previous year.
- FAO’s new forecast for world cereal utilization in 2024/25 stands at 2 870 million tons, a 1.0 percent increase over the 2023/24 level.
Business
SABIC net loss $322 million
The company's net profit was $66m in Q1 2024
- Losses were driven by a SAR 1.05 billion drop in gross profit on higher feedstock prices.
- On a sequential basis, net loss shrank from SAR 1.89 billion in Q4 2024.
Business
Loyalty Lost: How brands need to adapt to the modern traveler
Dubai, UAE: As 2025 unfolds, travel brands are facing a significant challenge: customer loyalty. Traditional rewards programmes, often based on points systems,...
- To stay competitive, brands must move away from price-based rewards like discounts, which can boost short-term sales but impact profitability
- Instead, focusing on personalised offers, exclusive experiences, and tiered memberships is key to fostering long-term customer loyalty
Gen Z travellers in UAE seek purposeful, tech-enabled journeys: Wyndham study
Dubai, UAE - Gen Z travellers in the UAE are reshaping the future of tourism, prioritizing cultural immersion, sustainability, and...
- The study, conducted by YouGov, found that nearly two-thirds (63%) of Gen Z respondents prefer accommodations that reflect local culture
- Meanwhile, social media platforms like Instagram and TikTok are driving travel choices for 26% of them, with 79% already using or eager to use AI tools to plan their trips
Economy
The game of ‘chicken’ being played with the world economy can be brought to a cooperative end
A meaningful “G3” accord between the US, Europe, and China must include coordinated fiscal, monetary, development, and trade policies. From...
- The hardline positions of the US and China on trade and tariffs are putting the world economy at risk, writes Richard Samans
- Yet, Europe could broker a 'positive off-ramp' that fires on all of the cylinders of international cooperation
Economy
Morocco volunteers on Sahara clean-up mission as part Nomads Festival
M'HAMID EL GHIZLANE, Morocco - It may be the gateway to the vast Sahara desert, but that does not mean...
- Bottles, plastic bags -- "there are all kinds", noted one helper who has joined the initiative cleaning up the edge of a village bordering the Sahara
- The rubbish is "mainly linked to the massive production of plastic products, low recycling rates and atmospheric pollutants carried by the wind."
Geostrategy
Israel PM accuses security chief of investigating minister without his consent
Prime Minister Benjamin Netanyahu on Monday accused Israel's internal security chief, whose dismissal was blocked by the supreme court, of...
- "The claim that the prime minister authorised Shin Bet chief Ronen Bar to gather evidence against Minister Ben Gvir is yet another exposed lie," Netanyahu said
- He was responding to a report that Bar's agency had spent months investigating far-right infiltration of the police and its links to Ben Gvir
Geostrategy
Israel presses ground offensive in Gaza, encircles part of Rafah city
Israel's military pressed ground operations across the Gaza Strip on Sunday, encircling part of Rafah city near Egypt almost a...
- Israeli troops on Sunday encircled Tal al-Sultan in Rafah, the military said in a statement, adding its objective was to dismantle terrorist infrastructure
- Three weeks ago Israel blocked the entry of humanitarian aid into Gaza and cut electricity in a bid to force Hamas to accept the Israeli terms for an extension of the truce
Business
Layali Diriyah: Blending scents of history, culture, global flavors
Riyadh, Saudi Arabia - Surrounded by the natural emblem of palm trees, Layali Diriyah during Ramadan radiates a distinctive ambiance,...
- The ambiance merges ancient heritage with modern luxury, creating a memorable atmosphere for visitors
- Guests enjoy a fusion of authentic traditions and contemporary elements, complemented by diverse international cuisines
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
Wealthy Asians consider shifting assets from Dubai amid Iran war fears: report
Some wealthy Asian investors are considering moving assets out of Dubai following Iranian missile and drone attacks on the city,...
Economy
Company News
22 killed in Israeli air strikes across Gaza
Geostrategy
Latest News
22 killed in Israeli air strikes across Gaza
The Israeli military has stepped up its Gaza offensive in recent days in what it has described as a renewed...
Geostrategy
Iraq’s first ever director in Cannes wins best feature debut
Hasan Hadi won the top prize for his childhood adventure under economic sanctions in "The President's Cake".
Arts & Culture
United Kingdom renationalizes first train operator under Labor reforms
London, United Kingdom -- Britain's South Western Railways on Sunday becomes the first private train operator to be returned to...
Economy
Most Read
Geostrategy
Kuwait strips tens of thousands of citizenship since August 2024
The latest campaign abolishes naturalization by marriage, which only applied to women, and revokes citizenship granted to wives since 1987....
- The mass revocations have been cast as part of a reformist agenda spearheaded by Kuwaiti emir Sheikh Meshal al-Ahmad Al-Sabah.
- Kuwait already has a big stateless community: the Bidoon, estimated at around 100,000 people, who were denied citizenship on independence from British protectorship in 1961.
Business
Real estate transactions in five UAE emirates reach $65 billion in Q1
Abu Dhabi, UAE -- Real estate transactions across five emirates in the UAE surged to over AED 239 billion ($65...
- More than 94,719 sales, purchase, and mortgage deals were recorded from January through March in Abu Dhabi, Dubai, Sharjah, Ajman, and Ras Al Khaimah.
- Dubai accounted for the largest share, with AED 193 billion in real estate transactions, resulting from 58,039 transactions, a growth of 16.2% in value and 31.5% compared to 2024.
Business
Trump expands Apple tariff threat to all smartphones
Washington, United States -- US President Donald Trump on Friday threatened Apple and other smartphone manufacturers with a 25 percent...
- Trump initially said the tariff would apply only to Apple -- an unusual move to single out a specific company in trade policy.
- While Apple designs its products in the United States, most iPhone assembly occurs in China, which remains embroiled in a trade war with the United States.