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...
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,...
Business
Geostrategy
India-Middle East-Europe Corridor will change face of Middle East: Netanyahu
Tel Aviv, Israel - Israel's Prime Minister Benjamin Netanyahu has welcomed the launch of the ambitious India-Middle East-Europe Economic Corridor...
- Israel's Prime Minister said that his country would be at the center of this unprecedented international project, connecting infrastructure from Asia to Europe
- The project includes plans for the construction of trains, hydrogen pipelines, fiber optic communications lines, electrical cables, and other critical infrastructure
Geostrategy
UN Chief to hold meetings with Lavrov, Zelensky, Erdogan to discuss grain deal
New York, UN - The United Nations Secretary General Antonio Guterres will discuss the revival of the grain deal with...
- Antonio Guterres noted that he will hold separate contacts with the representatives of the Russian Federation, Ukraine and Turkey
- Russia on July 17 pulled out of grain deal, which was reached a year ago to ensure safe exports of Ukrainian grain across the Black Sea
Economy
UAE and OECD host regional forum on global minimum tax
Dubai, UAE – The United Arab Emirates and the Organization for Economic Co-operation and Development (OECD) on Wednesday hosted regional...
- Global Minimum Tax involves application of a top-up tax on profits when the effective tax rate is below the minimum rate of 15 percent
- The forum included a workshop on Pillar 2 of the OECD-led Base Erosion and Profit Shifting Project and the Global Anti-Base Erosion Rules
Business
Global economy lost $32bn due to credit card frauds, says AMF
Abu Dhabi, UAE - The Arab Monetary Fund said Wednesday that global credit card fraud losses incurred by financial institutions...
- The losses increased substantially by 13.8 percent compared to the previous year, WAM reported.
- The report urges financial institutions to foster cooperation by sharing data and pooling resources in their fraud detection efforts.
Economy
UAE is 6th highest per capita consumer of solar energy in the world
Abu Dhabi, UAE - The UAE ranks among the top world leaders in solar energy use, according to a recent...
- The country has developed solar mega projects, including Shams, Noor Abu Dhabi and Al Dhafra in Abu Dhabi
- Masdar, the country’s leading renewable energy company, has played a key role in these projects
China fans cheer for Syria after ‘another embarrassing defeat’
Beijing, China - Angry China fans turned on their team and applauded the visiting Syrians off the pitch after what Chinese...
- China's Serbian coach Aleksandar Jankovic blamed bad luck for the 1-0 friendly loss in Chengdu on Tuesday, which came days after they were held 1-1 by Malaysia also at home
- President Xi Jinping wants China to one day host and even win the World Cup, but they are ranked 80th in the world and confidence is rock-bottom ahead of World Cup qualifying
Business
15m electric cars will be shipped globally in 2023: report
Dubai, UAE - Nearly 15 million electric cars, including both battery electric and plug-in hybrid vehicles, are expected to be...
- Electric cars are predicted to represent a significant portion of this growth, accounting for 97% of total EV shipments in the upcoming year
- Battery electric vehicles (BEVs) are poised for substantial growth, increasing from 9 million units in 2022 to an estimated 11 million units by the end of 2023
Geostrategy
No India-Middle East trade corridor without Turkey: Erdogan
Ankara, Turkey - Turkish president Recep Tayyip Erdogan has said that India-Middle East trade corridor proposed during the G20 summit...
- Turkish president highlighted Turkey's significance as a strategic location bridging the gap between the Middle East and Europe
- Turkey already supports another proposed corridor that connects the Gulf region to Turkey and Europe through a comprehensive transportation network
Economy
UAE’s financial wealth to reach $1.3trn by 2027
Abu Dhabi, UAE - The financial wealth of United Arab Emirates (UAE) is anticipated to experience a Compound Annual Growth...
- The equities and investment funds in the UAE continue to make up the largest asset class at 58% of total personal wealth in 2022
- A sizeable portion of the UAE's financial wealth, approximately 25%, originated from UHNW individuals worth more than $100 million
Business
Saudi Venture Capital invests $5m in VentureSouq fintech fund
Riyadh, Saudi Arabia - Saudi Venture Capital (SVC) has made a $5 million investment in a fintech fund managed by...
- The company catalyzes financing for startups from the pre-Seed to pre-IPO stages
- It deploys $2 billion through investments in funds and co-investment in startups
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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
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...
Company News
Latest News
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...
Geostrategy
Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...
Business
Middle East poised to lead global crypto surge as Bitcoin eyes $100,000
Geneva, Switzerland - A major new study released by The Lancet Neurology shows that, in 2021, more than 3 billion people worldwide...
Most Read
Economy
Saudi Arabia grapples with over 1 million tons of annual vegetable waste
Riyadh, Saudi Arabia - Saudi Arabia faces substantial annual losses in its agricultural sector, including 234,000 tons of tomatoes and...
- The kingdom has called for collaborative efforts to promote responsible consumption practices and reduce waste
- It has urged efficient vegetable usage and storage to minimize loss and contribute to a more sustainable food system
Business
Du, Samsung ink agreement
The two companies have signed a three-year partnership.
- This collaboration allows for expansion in the business-to-consumer (B2C) and business-to-business (B2B) segments.
- The companies will also collaborate on reaching the younger generation, with joint participation in events like the Dubai Esports Festival.
Iran’s aluminum ingot output up 7% in Feb 2024
Tehran, Iran - Iran’s production of aluminum ingot in the country registered a 7% growth in the first 11th month...
- Iran’s four major aluminum production companies produced 54,893 tons of aluminum ingots in February 2024
- The Iran Alumina Company produced more than 537,000 tons of bauxite from March 21, 2023, to February 22, 2024