$20 million rare blue diamond goes on show in Abu Dhabi
Abu Dhabi, United Arab Emirates -- A rare blue diamond valued at $20 million went on pre-auction display on Tuesday...
Business
Economy
Qatar banking on AI with nearly $2.5 bn in investments
Qatari Prime Minister and Minister of Foreign Affairs H E Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani delivered on...
- Qatar is moving towards a comprehensive digital transformation by investing more in technology, innovation and AI
- The Qatar Central Bank (QCB) to issue guidelines on how to adapt artificial intelligence
Business
Women in Tech Global and UN Women launch “Beyond Ceilings” campaign on women’s empowerment
The "Beyond Ceilings" campaign urges people to confront and challenge the glass ceiling, and reminds the audience of the vast possibilities that await women once they overcome...
- Women in Tech Global, in collaboration with UN Women, has initiated a worldwide campaign to highlight the prevalent existence of obstacles, often known as the "glass ceiling"
- "Together, we can break these barriers and ensure that every girl knows that the sky has no limits", said Ayumi Moore Aoki
Business
Iraq now gas self-sufficient, paves the way for surplus exports
Iraq has now become self-sufficient in liquid gas and the surplus is usually exported abroad, strengthening the Iraqi economy.
- Iraq has now become self-sufficient in liquid gas and the surplus is usually exported abroad
- It is expected that Iraq's oil reserves will increase to over 160 billion barrels, thereby boosting Iraq's position in the global oil market
Business
Etihad reports record Q1 profit
Total revenue increased by $269 million in the same period.
- The airline said the revenue increase reflects an increase in network capacity and passenger numbers.
- The airline carried 4.2 million passengers over the quarter, up 41 per cent year-on-year.
Business
Emirates CEO Sheikh Al Maktoum ‘not happy’ over Boeing aircraft delays
Dubai, United Arab Emirates -- The head of Dubai's Emirates airline urged Boeing on Tuesday to "fix" its problems, warning the...
- Chairman and chief executive Sheikh Ahmed bin Saeed Al Maktoum said the delayed delivery was putting pressure on Emirates' existing fleet.
- Emirates, already the biggest operator of 777 planes, has 205 777X on order, including a major purchase of 55 777-9 and 35 777-8 announced in November.
Economy
Dubai 21st most richest city in the world, top in the Middle East
New York is the richest city in the world, with 359,500 millionaires and 60 billionaires, although the Bay Area of...
- New York is the richest city in the world, with 359,500 millionaires and 60 billionaires
- Dubai has 72,500 millionaires, 212 centi-millionaires (100 mn +) and 15 billionaires
Business
flynas UAE expansion plan to increase number of routes, flights
Dubai, UAE -- flynas, the Saudi budget carrier, has announced expansion plans for the UAE from September this year, which...
- The carrier unveiled expansion plans for the UAE on the sidelines of the Arabian Travel Market (ATM).
- Starting September 2024, flynas will expand its operations to include Abu Dhabi, Sharjah, and Al Maktoum International (DWC).
Business
IHC Q1 net profit $2.17bn
The company launches Share Buyback Programme
- IHC's robust performance in Q1 2024 led to a Profit after Tax margin of 41.6 percent and earnings per share of AED 2.17.
- This growth was propelled by strong performances across IHC’s core sectors of Real Estate & Construction, Technology, Marine & Dredging, Food, and Services & Others.
Business
Dubai records 5.18m international overnight visitors in Q1
Dubai, UAE -- Dubai welcomed 5.18 million international overnight visitors from January to March 2024, an 11 percent rise over...
- Dubai begun 2024 by being named the No.1 global destination for an unprecedented third successive year in the Tripadvisor Travellers’ Choice Awards.
- From January to March, the Western Europe region was Dubai’s biggest source market with 1.138 million arrivals, a 22 percent overall share.
Business
NEOM, Saudi Red Sea Authority to partner in marine tourism
NEOM, Saudi Arabia -- Saudi Red Sea Authority (SRSA) has signed a memorandum of understanding (MoU) with NEOM to collaborate...
- The partnership will promote the sharing of expertise and enable the implementation and activation of joint initiatives.
- The agreement specified several areas of cooperation, such as supporting opportunities available to investors in coastal tourism and water activities.
$20 million rare blue diamond goes on show in Abu Dhabi
Abu Dhabi, United Arab Emirates -- A rare blue diamond valued at $20 million went on pre-auction display on Tuesday...
Business
Company News
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SHUAA okays MCB tranches
Business
Saudi PMI falls to 58.4 in Dec as non-oil private sector improves
Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
Business
Desert truffles: Saudi Arabia’s buried treasure
The 10-day Qassim Truffle Festival, currently in its fourth year, features 18 booths showcasing truffles, a dedicated auction area and...
Business
Israeli invasion destroys 90% of Gaza livestock, poultry farms
Gaza, Palestinian Territories - The Israeli forces have decimated 90 percent of 2,500 poultry and cattle farms in Gaza during...
Geostrategy
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Geostrategy
Winter rains, flooding and limited aid worsen Gaza tragedy: IOM
"Vulnerable people, including at least seven infants, have died from hypothermia, and these tragic deaths underscore the urgent need for...
- As of mid-Dec, the Shelter Cluster, a coordination group of UN, international and local humanitarian, estimates at least 945,000 still urgently need winterization assistance.
- IOM has delivered nearly 180,000 emergency shelter items to partners inside Gaza since mid-November and has over 1.5 million more winter supplies.
Business
Oil extends gains on hopes of policy support for economic growth
Singapore - Oil prices extended gains on Friday after closing at their highest in more than two months in the...
- Brent crude futures rose 16 cents, or 0.2 percent, to $76.09 a barrel after settling at its highest since Oct. 25 on Thursday.
- Lower interest rates should spur more economic growth which would lead to higher fuel consumption.
Business
Dubai Airport set for record start to 2025: 4.3m guests in 15 days
Dubai, UAE -- Dubai International Airport (DXB) is on track to welcome 4.3 million guests in the first 15 days...
- With an average of 287,000 guests passing through daily during this period DXB is operating at volumes akin to its busiest months ever.
- This performance reflects a surge in international visitors flying out after the festive season, coupled with residents returning from holidays.