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...
Geostrategy
Economy
UAE’s $1.5 bn bond issue oversubscribed five times
Dubai, UAE - The UAE's $1.5 billion bond issue saw five times oversubscription, attracting over $7.4 billion in bids, the...
- The 10-year bond, with a yield of 4.917%, will list on the London Stock Exchange and Nasdaq Dubai, maturing in September 2033
- The allocation was geographically diverse, with 61% going to banks, 32% to fund managers, 4% to pension funds and central banks, and 3% to the insurance sector
Business
Abu Dhabi council review budget, sports development
Abu Dhabi, UAE - Abu Dhabi Sports Council discussed business developments and plans for developing the sports sector here, local...
- The board reviewed the general financial budget for 2024, which reflects the strong performance of the council and its impact on the sports sector
- They also reviewed the strategic and operational performance report for the first half of 2023 and the performance indicators report
Geostrategy
UAE progresses in countering financial crimes in H1 2023, says official
ABU DHABI, UAE – Director-General of the Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AMLCTF) Hamid AlZaabi...
- The UAE confiscated over US$356 million from March 2023 to mid-July 2023, thereby strengthening its financial system.
- The country continues to prioritize international cooperation to combat financial and organized crime.
Geostrategy
Middle East embraces Mandarin learning in geopolitical shift
Riyadh, Saudi Arabia - Middle Eastern countries are increasingly embracing the Mandarin language, extending China's soft power influence in the...
- Saudi Arabia, the largest Arab country in the Middle East, recently mandated Mandarin lessons in all public and private secondary schools, according to Saudi Gazette
- The United Arab Emirates was the first Gulf state to include Mandarin in its national education system, launching a Chinese language program in schools in 2019
Geostrategy
India-Middle East trade corridor hits Turkey hurdle, alternate route proposed
Ankara, Turkey - Turkey is engaged in “intensive negotiations” with regional partners to propose an alternative to the India-Middle East...
- The country has proposed $17 billion Iraq Development Road initiative which would take goods from the Grand Faw port in Iraq through 10 Iraqi provinces and into Turkey
- The project will utilize a high-speed rail and road network and is divided into three phases, with the final phase expected to be completed by 2050
Business
QOIS inks share purchase, swap deal
QOIS is a Qatari public shareholding company.
- QOIS purchased the shares of the National Real Estate Development and Investment (OSOS) in Muzn Oman, for $1,984,318
- QOIS then exchanged its share in Muzn Oman of 37.68 percent, for the 10 percent share of Omani Ministry of Defense Pension Funds in OSOS
Arts & Culture
UNESCO adds 15 new sites to world heritage list during Riyadh session
Riyadh, Saudi Arabia - The UNESCO World Heritage Committee, during its 45th session held in Riyadh, unveiled fifteen new additions...
- Zarafshan-Karakum Corridor, an integral part of the renowned Silk Roads connecting Central Asia's Turkmenistan, Tajikistan, and Uzbekistan, now graces the list
- Approximately 50 sites are queued for potential inclusion to the World Heritage List, segmented into 37 cultural, 12 natural, and two of mixed significance
Geostrategy
Saudi Arabia participates in global meet to bridge digital divide
RIYADH, SAUDI ARABIA – The Kingdom’s Governor of the Communications, Space and Technology Commission (CST) Dr. Mohammed Saud Al-Tamimi participated...
- The meeting aims to enhance the contribution of the communications, space and technology sectors for attaining sustainable development objectives.
- The meeting also aims to propose policies and recommendations to bridge the digital divide and promote and develop the digital economy.
Business
Saudi-China Entrepreneurs Association and HKTDC sign MoU
Hong Kong - The Saudi Arabia-China Entrepreneurs Association (SCEA) has signed a Memorandum of Understanding (MoU) with the Hong Kong...
- The MoU between SCEA and HKTDC aims to fortify commercial ties, particularly aiding startups and service providers eyeing global expansion.
- The agreement was signed during the eighth Belt and Road Summit, a two-day event themed "Ten Years of Cooperation for Mutual Benefit".
Business
Aramco expands into South American retail market with Esmax buyout
Riyadh, Saudi Arabia - Aramco, one of the world’s leading integrated energy and chemicals companies, has announced its agreement to...
- The development aligns with Aramco's broader strategy of bolstering its presence in the downstream sector worldwide
- The acquisition comes on the heels of Aramco's earlier purchase of Valvoline Inc.'s global products business in February 2023
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
Company News
Latest News
Saudi EXIM bank surpasses 2023 credit goals by 33%
Riyadh, Saudi Arabia -- The Saudi EXIM Bank has given credit facilities amounting to SAR16.5 billion ($4.455 billion), surpassing the...
Business
Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...
Business
Al-Azhar Ash-Sharif celebrates 1084th anniversary
Cairo, Egypt - Historic al-Azhar Mosque marked its 1084th anniversary of its founding on March 17, celebrated by al-Azhar ash-Sharif...
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Geostrategy
Passports officers to ease travel for Ramadan at Dammam airport and causeway
DAMMAM, SAUDI ARABIA – With the increase in passenger traffic during Ramadan, the General Directorate of Passports is ramping up...
- The directorate's officers in Dammam are utilizing modern technology to expedite procedures and ensure smooth and efficient traveler traffic.
- The directorate's officers at both locations are working tirelessly, welcoming travelers and providing services professionally.
Science
Gemini’s inaccurate AI racial images warn of tech titans’ power
AUSTIN, US – For people at the trend-setting tech festival here, the scandal that erupted after Google's Gemini chatbot cranked out...
- Gaffes such as the images of ethnically diverse Nazi troops forced Google to temporarily stop users from creating pictures of people.
- Social media users mocked and criticized Google for historically inaccurate images, like those showing a female black US senator from the 1800s.
Geostrategy
Noura Al Kaabi leads UAE’s delegation to UN Commission on the Status of Women
NEW YORK, US – Minister of State Noura Al Kaabi led the United Arab Emirates’ delegation to the 68th session...
- Delivering the UAE’s national statement in the CSW68 General Debate, Al Kaabi emphasised the need to protect Palestinian women and girls.
- She participated in a ministerial roundtable on mobilizing financing for gender equality and the empowerment of all women and girls