Dubai receives 1.77m international tourists in January this year
Dubai, UAE--Dubai welcomed 1.77 million international tourists in January 2024, an increase of 21% compared to 1.47 million visitors in...
Business
Israeli air strikes in Lebanon’s city of Baalbek kill one
A security source said Israeli aircraft targeted a former Hizbollah building near Dar Al Amal Hospital, adding that Israel "conducted...
Geostrategy
Economy
UN voices concern over impact of Israel-Hamas war on food supply
The UN's World Food Programme expressed concern over the mounting challenges civilians, including vulnerable children and families, face in accessing...
- The WFP has stocks of food ready for distribution to people displaced and in shelters
- The UN agency appealed to all parties to uphold the principles of humanitarian law
Economy
Saudi Arabia and South Korea pledge to ramp up ties in various fields
Riyadh, Saudi Arabia-- Saudi Arabia and South Korea have pledged to strengthen cooperation in various fields.According to a press statement...
- The crown prince and the president reviewed the pace of cooperation made in a wide range of areas since the Saudi leader's visit to South Korea last year
- Last year, Saudi Arabia and South Korea pledged to strengthen cooperation in the fields of energy, defense, and infrastructure and construction
Arts & Culture
Art exhibition showcases deep cultural ties between Kuwait and Oman
Kuwait City, Kuwait--The art exhibition titled "Oman in the Heart of Kuwait" was inaugurated at the Kuwaiti Syndicate of Media...
- Saleh Al-Kharusi, Oman's ambassador to Kuwait, said the exhibition serves as a testament to the enduring relationship shared by Oman and Kuwait
- Nabil Al-Failakawi, Chairman of Kuwait's Syndicate of Media and Artists, underscored the spirit to forge and foster collaboration with artists throughout the Gulf region
Economy
UAE and Kyrgyzstan to boost renewable energy, transportation ties
Bishkek, Kyrgyzstan--The UAE and Kyrgyzstan have discussed mechanisms to enhance joint cooperation in various fields, especially renewable energy, transportation, and...
- Al Mazrouei headed a large delegation to the Central Asian country to explore opportunities to enhance cooperation between the two countries in all fields
- The talks with Kyrgyz president focused on mechanisms to enhance joint cooperation in various fields, especially renewable energy, transportation, and logistics services
Economy
Circular economy is a critical pathway to build sustainable future: Almheiri
Dubai, UAE-- Terming the circular economy as a critical pathway that builds a sustainable future by preserving natural resources, reducing...
- Almheiri noted that the UAE is keen to promote the circular economy that contributes to sustainable growth through the cooperation of all key stakeholders
- The review meeting took note of the pioneering efforts and actions taken by partners across the UAE to support the country's transition toward a circular economy
Geostrategy
UAE president and US senator discuss bilateral strategic alliance
Abu Dhabi, UAE--UAE President Sheikh Mohamed bin Zayed discussed how to deepen strategic alliance with the US in a meeting...
- The meeting saw the two countries reiterating their commitment to promoting development and reinforcing stability across the Middle East and beyond
- The two leaders talked at length on regional and international developments and discussed efforts by the UAE and US to strengthen global peace and stability
Arts & Culture
Saudi Heritage Commission unearths neolithic human activity traces in Jabal Irf
Riyadh, Saudi Arabia--The Heritage Commission and the German Max Planck Institute (MPI) of Geoanthropology in the Green Arabia Project revealed...
- The scientists, researchers and specialists from the kingdom, Australia, the UK, Italy and the US are studying archaeological materials from different sites
- The laboratory analyses of radiocarbon (C14) indicate that the peak of human settlement at the site was during the sixth and early fifth millennium BC
Business
Arab Development Establishment looks for JV partnerships in oil, gas sector
Abu Dhabi, UAE-- The Arab Development Establishment (ARDECO) has revealed that it is in talks with several international companies in...
- The CEO of ARDECO said the partnerships with global companies will strengthen the government's approach to making the emirate a global hub for the oil and gas sector
- He went on to add that his company represents more than 200 global firms in gas, oilfield services, and it intends to transform its relationship with these companies
Business
Endava to widen UAE operations
It will join the UAE's FDI program to expand footprint.
- It has a global workforce of more than 12,000 scattered all over the world in Europe, North and South America, Asia and the Middle East
- Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said the UAE's partnership with Endava is a milestone for the NextGen FDI initiative
Business
Masdar City, ADAFZ sign MoU
The two free zones will collaborate to grow businesses.
- Masdar City Free Zone companies that establish operations within ADAFZ will have the opportunity to lease warehouse and manufacturing space
- The collaboration will help improve synergies and strategic partnerships between Abu Dhabi Free Zones and grow the free zone ecosystem in the emirate
Dubai receives 1.77m international tourists in January this year
Dubai, UAE--Dubai welcomed 1.77 million international tourists in January 2024, an increase of 21% compared to 1.47 million visitors in...
Business
Company News
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IHC net profit soars to US$8.9bn
The company's revenue for the year 2023 stood at US$16.33bn.
UAE and Jordan leaders discuss boosting economic, investment ties
Amman, Jordan-- The UAE and Jordan have explored opportunities for collaboration in the fields of economy, investment, food security, renewable...
Geostrategy
Irbid chamber industrial exports up
The value of certificates of origin issued stood at US$65m.
Business
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Business
Exxon Mobil posts bumper profit
The company profit vaulted to US$36bn during the year 2023.
- The company's earnings in the latest quarter still beat estimates and its Chief Executive Darren Woods signaled optimism about the coming year
- The oil giant's results included a $2.5 billion impairment charge for California properties that it has been trying to sell for more than a year
Business
Deutsche Bank to slash 3,500 jobs
The bank said it would buy back shares and pay dividends.
- The news came as the German bank posted a 30 percent slide in fourth-quarter profit that still beat analyst expectations
- The dividends and the share buyback will cost the bank nearly $1.7bn and will take place during the first half of the year
Business
GCC banks to maintain resilience in 2024, says S&P Global
Abu Dhabi, UAE--Despite geopolitical uncertainties and potential economic headwinds, S&P Global expects GCC banks to maintain their well-capitalised, profitable, and...
- The UAE and Saudi banking systems are expected to lead the region and credit growth and profitability will remain robust
- The ratings agency however warned that potential risks, including geopolitical tensions and real estate exposure, remain