Israel announces ground operations, issues ‘last warning’ to Gazans to remove Hamas from power
Israeli forces this week conducted the deadliest wave of air strikes since the start of a truce in January, killing...
Geostrategy
Turkey central bank cuts rate to 42.5% as inflation eases
Istanbul, Turkey - Turkey's central bank on Thursday lowered its key interest rate for a third consecutive time as inflation...
Economy
Geostrategy
UAE, New Zealand discuss economic cooperation, free trade pact
DUBAI, UAE – Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade discussed deeper economic collaboration,...
- The UAE and New Zealand already share a productive trade relationship, with non-oil trade reaching US$805 million in 2022.
- UAE is New Zealand's leading trading partner in the Arab World, accounting for 2.5 percent of Wellington’s total foreign trade.
Geostrategy
Hong Kong’s Belt and Road summit expands focus to Middle East
Dubai, UAE - The annual Belt and Road Summit being held on September 13 and 14 in Hong Kong will...
- The Belt and Road Initiative, China's ambitious plan to boost international trade and connectivity, encompasses both the Middle East and Southeast Asia
- Hong Kong aims to leverage its strategic location and expertise to facilitate economic collaboration between these regions
Business
ADNEC Group launches charter flights to Europe, Central Asia to draw tourists to Abu Dhabi
Abu Dhabi, UAE - ADNEC Group, through its tourism arm Tourism 365, has launched new charter flight services in the...
- The new service, available from Europe and central Asia, is poised to increase visitor arrivals to the UAE
- The travel sector is expected to represent nearly 10 percent of the UAE's total economy by 2023
Business
Marco Verratti close to Qatar move, Julian Draxler may follow
Doha, Qatar - Marco Verratti, the 30-year-old Italian international midfielder, is edging closer to a move to the Qatari top-flight,...
- An agreement between Al Arabi and PSG has reportedly been reached for the transfer of Verratti
- Julian Draxler has also made headlines amid reports of his potential exit from PSG
Economy
At 5%, Middle East has highest GDP share from tourism: report
Dubai, UAE - The Middle East has seen the strongest rebound in the post-pandemic global tourism recovery, according to a...
- Saudi Arabia and Türkiye recorded almost pre-pandemic levels of tourist arrivals in Q1 2023
- Asia Pacific is second, with over 4 percent of the region’s GDP coming from tourism
Business
Bitay to expand in UAE’s burgeoning crypto market
DUBAI, UAE – Bitay, a cryptocurrency platform from Turkey, announced its expansion into the UAE's burgeoning crypto market. The UAE,...
- Kickstarted by a government research grant, Bitay has been operational in Turkey since 2018 and expanded its services globally in 2021.
- The platform is licensed as a Money Services Business (MSB) in 16 US states and offers services in multiple countries.
Economy
UAE economy expected to grow by 3.5 percent in 2023, says UBS
ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross...
- The bank's positive outlook on the UAE’s medium-term growth prospects is supported by strong demand for its oil exports and energy investments.
- The bank also expects a strong 4.5 percent expansion for the non-energy part of the economy for this year.
Geostrategy
Chinese diplomat, Arab Parliament speaker discuss Middle East
BEIJING, CHINA – The director of China’s Office of the Central Commission for Foreign Affairs met with the speaker of...
- China said the future of the Middle East should be in the hands of regional countries and people.
- The diplomat said China supports an early, fair and reasonable settlement of the Palestinian issue.
Business
SAMA licenses new company to provide E-wallet solutions
Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) licensed “Alhulul AlMubassatah Financial Company (SiFi)" to provide E-wallet solutions. With...
- With SiFi, there are now 25 licensed companies offering payment services in Saudi Arabia
- SAMA is endeavoring to support the payments sector and increase efficiency of financial transactions
Science
Sultan AlNeyadi set to return to earth on September 3
Dubai, UAE – Sultan AlNeyadi, along with his international crewmates, is set to return to Earth on September 3 after...
- AlNeyadi, joined by NASA astronauts Stephen Bowen and Warren Hoburg, as well as Roscosmos cosmonaut Andrey Fedyaev, will depart the ISS on September 2
- Re-entry into Earth's atmosphere will subject the spacecraft to intense heating and drag, effectively slowing its velocity to a safe level for parachute deployment
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Israel announces ground operations, issues ‘last warning’ to Gazans to remove Hamas from power
Israeli forces this week conducted the deadliest wave of air strikes since the start of a truce in January, killing...
Geostrategy
Company News
Latest News
Iran agricultural, food exports hit US$5.5bn in 11 months
TEHRAN, IRAN – The Ministry of Industry, Mine, and Trade said that Iran exported fisheries, livestock, agricultural and food products...
Economy
GASTAT adopts chain-linking method to calculate Saudi Arabia’s real GDP
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) said in a press release it issued on Sunday that...
Economy
Non-Jordanian investors own 47% of ASE market value as of February 2024
AMMAN, JORDAN – Data released by the Amman Stock Exchange reveals that non-Jordanian investors bought shares worth US$12.5 million (JD8.9...
Market Report
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Arts & Culture
UAE elected Vice Chair of UNESCO’s committee for promotion of cultural diversity
Abu Dhabi, UAE - The UAE has been elected the Vice Chair of the UNESCO's Intergovernmental Committee (IGC) for the...
- The appointment was made during the 17th meeting of the committee, which was recently held at UNESCO’s HQ in Paris, France
- It acknowledges the UAE’s contributions to cultural diversity and its role in fostering a multicultural society both regionally and globally
Economy
Saudi Arabia to expand customs duty exemption for some industrial products from April 1
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources has unveiled plans to broaden the range of...
- Industrial companies holding a valid license from the ministry will benefit from duty exemptions on specific items essential for their operations
- The items encompass raw materials, semi-finished materials, finished materials, packaging materials, machinery, equipment, and spare parts required for industrial production
Geostrategy
Dubai’s assets in endowment sector reaches US$2.8bn
DUBAI, UAE – Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that under the guidance of Vice...
- Dubai witnessed an 18 percent increase in endowment assets compared to the previous year.
- The Crown Prince was briefed on key developments in the field of endowment work in Dubai.