South Korea presses for enhanced ties with UAE in high tech and AI
Dubai, UAE--South Korea has pressed for boosting cooperation with the UAE in the field of advanced technology and artificial intelligence...
Economy
Geostrategy
Tunisians stay away from election for new parliament
Tunis, Tunisia--Tunisians on Saturday overwhelmingly boycotted an election for a new parliament which will have virtually no authority following a...
- Opposition groups boycotted the election, saying it was part of a "coup" against the only democracy to have emerged from the 2011 uprisings across the region
- Inflation is around 10 percent, and frequent shortages of milk, sugar and petrol are fuelling a growing wave of emigration
Geostrategy
Iran boasts enriched uranium capacity hits record highs
On the eve of UN nuclear monitors visit to the country, Iran disclosed that its uranium enrichment capacity has increased...
- IAEA said that a technical team will visit Iran on Sunday to try to resolve a deadlock over the detection of traces of radioactive material at sites not declared
- Under the 2015 deal, Iran agreed to restrict its enrichment of uranium to just under four percen
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
Company News
Latest News
Al Hilal ranks among world’s 50 wealthiest clubs
European clubs owned by Arabs continue to dominate the rankings, with Sheikh Mansour bin Zayed-owned Manchester City standing at the...
Business
Most Read
Business
EITC Q3 profit soars 57.7%
Its revenues grew 3.7% to US$896 million in the quarter.
- The company posted a 57.7% jump in net profit to $137.23m, its highest quarterly level over the last three years
- The company has been pushing further the deployment of 5G network which reached 98.5% coverage
Business
Saudi Ministry of Investment and Agility sign MoU to boost healthcare sector
Riyadh, Saudi Arabia-- Saudi Arabia and Agility have signed a memorandum of understanding (MoU) to introduce cutting-edge health technology and...
- The agreement includes the potential to widen digital health services and localizing the supply chain for innovative new medical technologies
- The MoU looks to widen people's access to preventative health services to combat chronic diseases such as cardiovascular disease and breast cancer
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