Bain identifies four priorities for sovereign wealth funds as assets approach $30 trillion
State-backed investors are expanding beyond traditional investment models, increasing exposure to alternatives, AI and direct deals while balancing returns with...
Economy
Vance hails ‘historic’ US-Iran talks as Trump warns Tehran over Lebanon ‘proxies’
US and Iranian negotiators opened talks in Switzerland amid renewed tensions over Lebanon, with both sides linking progress to regional...
Geostrategy
Business
The Red Sea opens its third resort Nujuma, a Ritz Carlton Reserve
Riyadh, Saudi Arabia -- The Red Sea has announced the opening of its third resort, Nujuma, a Ritz Carlton Reserve....
- Inspired by the word Nujum, meaning "stars" in Arabic, Nujuma invites travelers to one of the world's most secluded and protected archipelagos.
- Accessed by chartered boat or seaplane, Nujuma features 63 overwater and beach villas, offering one-to-three-bedroom accommodation.
Economy
The U.S. playing the waiting game with inflation
Federal Reserve official Neel Kashkari has reiterated the Fed’s wait-and-see approach about possible rate cuts. In a recent interview on CNBC, Kashkari, who serves...
- The labor market remains strong in the U.S.
- The consensus is that the first rate cut won’t arrive before September
Business
UAE tax authority issues corporate tax guide for free-zone persons
Abu Dhabi, UAE -- The Federal Tax Authority (FTA) has issued a guide outlining the application of Corporate Tax to...
- It is in line with the Free Zone Corporate Tax regime, which enables Qualifying Free Zone Persons to benefit from a zero percent Corporate Tax rate on Qualifying Income.
- The guide includes many examples to assist Businesses with understanding how the key elements of the Corporate Tax Law apply to Free Zone Persons.
Business
Global tourism set to return to pre-Covid levels in 2024
Saudi Arabia and the UAE are the only high-income economies to rank among the top 10 most improved economies between...
- The Middle East had the highest recovery rates in international tourist arrivals (20 percent above the 2019 level).
- The top 10 countries in the 2024 edition are the United States, Spain, Japan, France, Australia, Germany, the United Kingdom, China, Italy and Switzerland.
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
Most Read
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
Bain identifies four priorities for sovereign wealth funds as assets approach $30 trillion
State-backed investors are expanding beyond traditional investment models, increasing exposure to alternatives, AI and direct deals while balancing returns with...
Economy
Company News
Latest News
Israeli strikes on Lebanon kill dozens
Geostrategy
US strikes southern Iran as Tehran officials head to Qatar for crucial talks
United States forces said they have attacked missile launch sites and mine-laying vessels in southern Iran, in what a US...
Geostrategy
UAE organizations strengthen governance to scale AI cybersecurity: Report
Governance, accountability and validation processes emerge as critical requirements for translating growing AI investment into measurable operational and security outcomes,...
Geostrategy
Visa expands AI-driven payments program across CEMEA region
Visa launched its global Agentic Ready program in the United Arab Emirates on Wednesday, expanding efforts to support artificial intelligence-driven...
Business
Most Read
Business
Emirates breaks ground on Dubai South engineering hub
The $5.1 billion engineering complex targets advanced aircraft maintenance capabilities, sustainability benchmarks, and expanded aviation infrastructure. The facility is being...
- Emirates said the Dubai South complex will include simultaneous servicing capacity for 28 wide-body aircraft and two specialized paint hangars.
- The facility targets LEED Platinum sustainability standards with rooftop solar installations, expanded logistics infrastructure and engineering training facilities nationwide.
Business
ADNOC-led partnership targets $30 billion infrastructure investments
The partnership will raise a combination of equity and debt capital to target an investment portfolio that aims to generate...
- Partnership will target diversified infrastructure assets across energy, transportation, logistics, digital networks, water systems and waste management sectors.
- Investors said accelerating urbanisation and digitisation trends are strengthening long-term infrastructure demand across GCC and Central Asian markets.
Geostrategy
Seizure of vessel anchored near UAE coast close to Hormuz raises Gulf tensions
The incident came hours after India condemned an attack on an Indian-flagged vessel off Oman’s coast, calling continued assaults on...
- Malaysia warned Iranian-linked “shadow fleet” oil transfers near its waters exploited maritime loopholes across major Asian shipping corridors.
- Iran staged a mass World Cup departure rally in Tehran despite continuing uncertainty surrounding travel and participation in the United States.