European tourists make a beeline for Sharjah as 400,000 visit in 2023
Sharjah, UAE-- Nearly 400,000 visitors from Europe have traveled to Sharjah during last year, marking a notable 28 percent increase...
Economy
Economy
Jordan secures US$1.9bn in foreign aid amid dire global economic conditions
Amman, Jordan--Jordan has succeeded in securing US$1.9 billion in foreign aid and negotiations are underway to ramp it to $3.2...
- Speaking at a forum, Jordan's minister of planning spoke of the kingdom's financial landscape and how it interacted with global economic trends
- The minister also underscored the kingdom's collaboration with international financing entities that offer affordable funding to Jordan's private sector
Arts & Culture
Saudi Arabia’s archeologists make ‘significant’ discoveries at Al Abla site
Riyadh, Saudi Arabia--Saudi Arabia's Heritage Commission has announced significant discoveries made at the Al-Abla site in Asir region during the...
- The archeologists discovered features of residential and industrial units with gypsum-coated walls and floors
- They found hammerstones, grinders, and pairs of quern stones in various sizes and forms, and shards of pottery
Geostrategy
UAE-Hungary Political Consultations Committee discusses boosting cooperation
Budapest, Hungary--Senior officials from the UAE and Hungary met in Budapest on 22nd August for the inaugural round of the...
- Officials from the two countries reviewed the expanding relations and discussed ways to boost opportunities in order to ramp up economic and trade ties
- The UAE ambassador had a series of meetings with senior officials, intellectuals, and cultural figures intended to deepen relations between the two countries
Geostrategy
GCC chief stresses importance of strategic partnership with US
Riyadh, Saudi Arabia--GCC Secretary General Jasem Albudaiwi has emphasized the importance of Gulf-US strategic relations that support joint cooperation and...
- Albudaiwi, in a statement, underscored the outcome of the joint meeting which was held last June between the GCC foreign ministers and the USA
- He pointed to the importance of strategic partnership between the GCC countries and the United States in maintaining peace and security in the Middle East
Economy
Egypt reports drop in unemployment rate in Q2 of 2023
Cairo, Egypt--Egypt's unemployment rate fell slightly by 0.1 percent to 7 percent in the second quarter of 2023, according to...
- According to data, some two million Egyptians were without work, including 1.2 million men and 941,000 women
- The country's annual inflation rate jumped to 38.2% in July, up from 14.6% in the same month a year earlier
Business
Jadwa buys stake in Gissah
The investment bank bought a 35% stake in Kuwaiti firm.
- The Saudi investment bank bought the stake through its private equity arm Jadwa Retail Opportunities Fund
- It will help Kuwaiti perfume company to prepare for a public listing on the Tadawul, Saudi Arabia's stock market
Business
Subway to sell for US$9bn
The fast-food chain has some 37,000 outlets across the world.
- In February, the company said it had hired JPMorgan to advise it on a possible sale, while saying it "remains committed to the future"
- A few months back, it unveiled a franchising agreement to open some 4,000 restaurants in mainland China over the next 20 years
Economy
Suez Canal ship traffic normal after tanker collision
Cairo, Egypt--Shipping traffic was flowing normally on Egypt's Suez Canal on Wednesday, two shipping sources based in the country said,...
- According to ship tracking company MarineTraffic, the two tankers briefly collided in the canal citing eyewitnesses
- A media outlet quoting a Suez Canal official said that a ship that broke down in the canal was starting to be towed
Geostrategy
Iran ready to boost military ties with Russia: General Heidari
Tehran, Iran-- Iran will boost military cooperation with Russia as the two countries look to strengthen strategic partnership.According to the...
- The Iranian army commander made the remark during a meeting with the Commander-in-Chief of the Russian Army, General Oleg Salyukov, in Moscow
- The two generals pledged to continue promoting mutual ties between the ground forces of the two countries in various fields in the coming months
Business
Saudi Esports Federation to launch ‘Next World Forum’ in Riyadh
Riyadh, Saudi Arabia--The Saudi Esports Federation will launch the "Next World Forum" on August 30 and 31 in Riyadh, at...
- Next World Forum will discuss opportunities in the gaming and esports industry valued to be at $170 billion globally
- The forum will also hold a discussion on the challenges women are facing in achieving leadership roles in the industry
Company News
Latest News
Bahrain and Slovakia to ramp up cooperation in urban planning
Manama, Bahrain-- Bahrain and Slovakia are looking to ramp up the ongoing cooperation in urban planning and sustainable development.In this...
Economy
Google to invest US$1bn in UK data centre
It will meet growing demand for internet services in the region.
Business
Dubai World Trade Centre to host Japan trade exhibition next week
Dubai, UAE--The first edition of the Japan Kyoto Trade Exhibition 2024 is all set to kick off this Monday, 22nd...
Business
Most Read
Business
Oman Investment Authority launches fund worth US$5.19 billion
Muscat, Oman--The Oman Investment Authority (OIA) has unveiled a new fund called “Future Fund Oman” valued at US$5.19 billion.The fund...
- The fund, according to Oman News Agency, has a capital of $5.19bn to be utilised over five years, with $1bn every year
- It will allocate 90 percent of its capital to invest in new or existing investment projects that prove to be economically viable
Economy
China’s economy to grow steadily in 2024, say analysts
Beijing, China--China's economy is likely to pick up the pace and grow steadily in 2024 after a bumpy recovery last...
- Many experts believe that China needs to set an annual GDP growth target of around 5 percent to boost business confidence
- The Chinese economy grew 5.2% in the fourth quarter of 2023 year-on-year, following a 4.9% growth in the third quarter
Business
Sharjah Chamber discusses collaboration with AAAID on trade, investment
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) has held discussions with the Arab Authority for Agricultural Investment and...
- The discussions centered upon supporting business community and developing the agricultural sector and fostering trade and investment
- The two sides discussed initiatives in creating a conducive business environment for innovation and investment in the agricultural sector