India PM inaugurates grand temple in Abu Dhabi
According to the UAE authorities, the grand temple carved from pink stone spreads over an area of 55,000 square metres...
Geostrategy
Archaeological sites discovered in Southern Saudi Arabia
ABHA, SAUDI ARABIA Â - The Heritage Commission announced its most prominent discovery in Jurash, Asir region, as one of the...
Arts & Culture
Business
In its pivot to East, GCC solidifies trade ties with China
As the Gulf nations look to deepen economic partnership with China, the US, the region's dominant security force, watches with...
- China became the largest trading partner of the GCC in 2020
- Its trade volume with the GCC reached about US$180 billion, accounting for more than 11% of the GCC's total foreign trade
Business
Arada awards contracts worth US$256m to build 986 homes
Sharjah, UAE-- Arada has awarded two major contracts totalling $256 million to build 986 new homes across two residential districts...
- The contract to build 421 villas and town-houses in Masaar’s second residential phase was won by Pivot Engineering & General Contracting
- Masaar was officially inaugurated in September by Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah
Geostrategy
Libya court sentences 17 ‘IS members’ to death
Tripoli, Libya-- A Libyan court on Monday sentenced 17 people to death after finding them guilty of joining the Islamic...
- The prosecution said that those on trial had killed a total of 53 people, "destroyed public buildings" and "disappeared dozens of people"
- Libya's collapse into violence after the revolt that toppled and killed dictator Moamer Kadhafi in 2011 left a power vacuum that was filled by a multitude of armed groups
Geostrategy
Iran says four security force members killed in attack
Tehran, Iran--A 'terrorist' attack killed four members of Iran's security forces in the country's southeast, the state news agency IRNA reported...
- According to IRNA, the Islamic Revolutionary Guard Corps members were killed "during a terrorist act" in the Saravan region of Sistan-Baluchistan province near the Pakistani border
- The region is one of Iran's poorest and is home to the Baluchi minority, who adhere to Sunni Islam rather than the Shiite branch predominant in Iran
Economy
Egypt’s IMF deal aims to reduce government debt
Cairo, Egypt--The IMF's new $3 billion financial support package for Egypt aims to reduce government debt to less than 80...
- Egypt negotiated its latest IMF loan as the economic fallout from the war in Ukraine exacerbated a foreign currency shortage resulting from Egypt's large trade deficit
- The package includes a monetary policy aimed at gradually reducing inflation, fiscal consolidation to ensure a downward public debt trajectory while enhancing social safety nets
Economy
UAE looks to deepen renewable energy partnership with Scotland
Dubai, UAE--A UAE delegation led by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade is on...
- The delegation visited the Scottish Enterprise, which highlighted its efforts to transform Scotland’s economy through innovation and investment
- The UK is one of the UAE’s top trading partners as the volume of bilateral non-oil trade between the two reached US$7.4 billion in the first nine months of 2022
Geostrategy
France resolves months-long visa dispute with Algeria
Algiers, Algeria--France said Sunday it had ended months of tensions over a visa dispute with Algeria, just days after Paris and...
- According to a statement, French Interior Minister Gerald Darmanin, on a visit to the capital Algiers, announced a return "to a normal consular relationship" with Algeria
- In September 2021, Paris reduced visa quotas to its former colonies of Algeria, Morocco and Tunisia, in a bid to encourage the countries to cooperate against irregular migration
Economy
Sheikh Tamim says ‘exceptional’ World Cup delivered to fans
Paying tribute to the finalists and fans in a Twitter statement after the match, Qatar's ruler said that the Gulf...
- Sheikh Tamim bin Hamad Al-Thani paid tribute to the finalists and fans in a Twitter statement after the match
- Messi was prominently pictured wearing a 'bisht' traditional cloak that the emir presented the Argentina icon before he lifted the World Cup trophy
Geostrategy
Seven Iraqi police killed in suspected IS attack: police sources
Kirkuk, Iraq-- At least seven members of Iraq's federal police were killed Sunday during an attack near Kirkuk in the country's...
- In Baghdad, an official from the Ministry of Interior confirmed the attack, saying seven police, including one officer, were killed.
- No group immediately claimed responsibility for the attack
Economy
Fuel crisis cripples life in Syria as authorities ramp up prices
Damascus, Syria-- Syrian student Ziad al-Ezz can no longer get to university as severe fuel shortages cripple the capital Damascus, pushing...
- Authorities have announced four fuel price hikes since the start of the year as well as rationing of petrol and fuel oil supplies
- According to the UN, ninety percent of the population now live below the poverty line and 12.4 million people are food insecure
India PM inaugurates grand temple in Abu Dhabi
According to the UAE authorities, the grand temple carved from pink stone spreads over an area of 55,000 square metres...
Geostrategy
Company News
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Gulf central banks mimic US Fed, maintain interest rates
The UAE's central bank has kept its Base Rate for the Overnight Deposit Facility (ODF) unchanged at 5.40 percent. It...
Economy
UAE and Jordan sign MoU to boost investment cooperation
Abu Dhabi, UAE--The UAE and Jordan have signed a memorandum of understanding (MoU) to create a framework for investment cooperation...
Geostrategy
Bahrain and UK discuss boosting trade, investment ties
London, UK-- Bahrain and the UK have discussed way to boost bilateral cooperation in trade, investment and economic fields between...
Geostrategy
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Business
Ooredoo net profit up
Its revenue rose to US$4.72bn in the first 9 months of 2023.
- The company posted a 28 percent rise in net profit to $741 million, compared to $576 million last year
- It made strategic investments in Oman, Iraq, Tunisia and Maldives to drive growth in these markets
Business
Burjeel Holdings profit surges
Its revenue spiked to US$898m in the first 9 months of 2023.
- The company posted a162.6 percent increase to $37.30 million during the third quarter of 2023
- It plans to set up two medical centres in Dubai and Abu Dhabi and one Burjeel Day Surgery Centre in Al Dhafra
Business
GCC chief stresses need for combating corruption to fuel economic growth
Muscat, Oman-- Secretary General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudawi, has underscored the importance of cooperation in...
- Albudawi spoke on corruption at the 9th meeting of the Ministerial Committee concerned with combating corruption in the GCC countries
- He said fighting corruption has globally gained importance in recent years, in light of the growing negative impact of corruption on economies