Qatar’s ties with Iran closer than ever: Sheikh Tamim bin Hamad
Doha, Qatar-- Qatar's Emir Sheikh Tamim bin Hamad Al Thani has affirmed that the ties between Qatar and Iran have...
Geostrategy
Al Mal Capital REIT to launch rights issue
The fund has an existing portfolio valued at US$158m.
Business
Economy
Jordan court sentences captagon smugglers to long prison terms
Amman, Jordan--Jordan’s judiciary on Thursday sentenced two men to long prison terms for attempting to smuggle nearly two million captagon...
- The two men, whose identities have not been disclosed, had attempted to smuggle more than 1.9 million captagon pills from Syria to Jordan in 2021
- The Jordanian army reported in February that an organized ring had attempted to smuggle drugs across the border into the country using drones
Business
Elon Musk to restore suspended Twitter accounts of journalists
Elon Musk said late Friday he would reinstate the Twitter accounts of several journalists that were suspended after he accused...
- Musk carried out a Twitter poll asking whether he should restore the suspended accounts now or in a week's time
- The latest controversy began when Musk on Wednesday suspended @elonjet, an account that tracked flights of his private jet
Economy
Egypt to receive US$3 billion loan from IMF
Washington, United States--The Executive Board of the International Monetary Fund on Friday approved a $3 billion loan to Egypt, with an immediate...
- IMF said that Egypt is expected to receive, through the EFF program, about US$14 billion in additional financing "from its international and regional partners
- As the world's largest importer of wheat, it has been hit hard by soaring grain prices due to the Russian invasion of Ukraine
Business
FIFA to hold 32-team Club World Cup from 2025
Despite robust opposition from Europe's biggest clubs, FIFA chief Gianni Infantino has announced plans for a 32-team Club World Cup...
- Infantino said the new-look tournament would be even bigger than first planned.
- He said next year's Club World Cup, in its current format, would take place in Morocco from February 1 to 11, 2023
Geostrategy
Irish UN peacekeeper killed in Lebanon after convoy attacked
Aqibya, Lebanon-- An Irish member of the UN peacekeeping force in south Lebanon was killed and three were wounded after their convoy...
- The peacekeeping force UNIFIL said the "incident" happened near the village of Al-Aqbiya, just outside the force's area of operations
- The UN force has been present in south Lebanon since 1978 when they first deployed after Israel occupied a border strip on the Lebanese side
Business
Boursa Kuwait, Tadawul sign pact
The deal is expected to boost capital markets in the region.
- The deal will help cross-listing of companies on both exchanges as they will look to synergize their efforts in the areas of financial literacy
- Boursa Kuwait CEO said the signing of the MoU is an indication of their long-term partnership to develop the market and enhance the investment environment across the region
Economy
WHO sees Covid-19 emergency dying out in 2023
Urging China to share information that might pinpoint how the pandemic started, the WHO has said that it was hoping...
- The WHO's emergency committee on Covid-19 will discuss the criteria for declaring an end to the emergency phase when they next meet in January
- Nearly 650 million confirmed Covid cases and more than 6.6 million deaths have been reported to the WHO, though the UN health agency acknowledges this will be a vast undercount
Economy
Dubai brings in new rules to govern its Digital Economy Court
Dubai, UAE--The Dubai International Financial Centre (DIFC) Court has launched a new set of industry-first specialised rules for its recently...
- A leading international judicial expertise Justice Michael Black of England & Wales has been recruited to oversee and operate the new court’s cutting-edge digital infrastructure
- The DIFC Courts Rules will facilitate the efficient and modern resolution of digital economy disputes
Economy
Morocco lose game but win hearts all over world
Casablanca, Morocco--They may have fallen just short of reaching the World Cup final, but Moroccans on Wednesday hailed their team's historic...
- All over Morocco, shops have been selling team jerseys and flags.
- The news agency said the king also conveyed a congratulatory message to French President Emmanuel Macron by telephone post-match
Business
UAE Jiu-Jitsu Federation to promote martial art in China
Abu Dhabi, UAE--The UAE Jiu-Jitsu Federation and China’s Generations Fund have signed an agreement to promote the culture of Jiu-Jitsu...
- The agreement allows both parties to utilize Jiu-Jitsu in accelerating sporting cooperation between the UAE and China
- It will also contribute to expanding Jiu-Jitsu fan base in the People's Republic of China, specially among young people
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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
Qatar’s ties with Iran closer than ever: Sheikh Tamim bin Hamad
Doha, Qatar-- Qatar's Emir Sheikh Tamim bin Hamad Al Thani has affirmed that the ties between Qatar and Iran have...
Geostrategy
Company News
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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...
Business
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Business
Hamriyah Freezone and Amazon UAE sign lease agreement for new logistics center
Sharjah, UAE--Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics centre which will...
- The agreement supports Amazon UAE’s commitment to investing across the country in order to shore up economic growth and innovation
- The freezone's infrastructure and location together with Amazon's technology are expected to boost customer convenience and reliability
Economy
Bahrain’s SCE signs agreement with Foulath Holding Company
Manama, Bahrain--The Supreme Council for the Environment (SCE) signed a cooperation agreement with Foulath Holding Company to boost sustainable development...
- The signing of the agreement would pave way for planting and preserving mangrove trees in line with the sustainable development goals (SDGs)
- The SCE said the agreement falls within the framework of protecting the environment, and preserving and developing its living resources
Business
Hamriyah Freezone Authority, Amazon UAE ink pact for logistics center
SHARJAH, UAE - Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics center...
- Once launched, the new center will enable a seamless delivery experience across the Northern Emirates.
- HFZA’s location and over 20 years of Amazon’s technology and operational expertise will enhance convenience for customer orders.