Attack on Iranian vessel in Hormuz leaves one dead, 3 injured
Tehran blamed "American enemy" for the attack, which came a day before a meeting between Iran and Gulf states in Oman...
Geostrategy
Four Palestinians killed as pressure mounts over West Bank settlements
The UK and 11 other countries have announced support for trade sanctions targeting Israeli settlements in the occupied West Bank....
Geostrategy
Business
Saudi Arabia retains first rank in MENA Venture Capital funding in 2024
Riyadh, Saudi Arabia -- Saudi Arabia maintained its first rank across MENA in terms of Venture Capital (VC) funding in...
- The Kingdom secured the highest, 40 percent, share of total VC funding in the MENA region in 2024.
- The report also revealed that Saudi Arabia set a new record with 178 VC deals in the same year.
Business
ADNOC L&S buys stake in Navig8
The company will acquire the remaining stake in mid-2027.
- Navig8 is an international shipping pool operator and commercial management company with a modern-owned fleet of 32 tankers and a presence in 15 cities across five continents.
- This value-accretive acquisition is expected to boost ADNOC L&S’ earnings per share by at least 20 percent in 2025 compared to 2024.
Business
DAE to acquire Nordic Aviation Capital
The terms of the transaction have not been disclosed.
- As of September 2024, NAC’s fleet comprised of 252 owned and committed assets on lease to approximately 60 airline customers in approximately 40 countries.
- On a pro forma basis, DAE Capital’s fleet will comprise of approximately 750 owned, managed and committed aircraft.
Business
PIF completes $7 billion inaugural murabaha credit facility
Riyadh, Saudi Arabia -- Saudi Arabia's Public Investment Fund (PIF) on Monday announced its first murabaha credit facility for the...
- The financing structure is supported by a diverse syndicate of 20 international and regional financial institutions, PIF said in a statement.
- PIF has four main sources of funding: capital injections from government, government asset transfers, retained earnings from investments, and loans and debt instruments.
Business
UAE aviation sector’s 2024 milestone: 1 million air traffic movements
Abu Dhabi, UAE -- The United Arab Emirates (UAE) achieved a milestone in the aviation industry as it surpassed 1...
- On 22nd December 2024, the one-millionth annual air traffic movement was recorded with the arrival of Emirates Flight305 from Shanghai.
- UAE recorded over 20 percent growth in air traffic over the past two years, among the highest globally.
All six lines of Riyadh Metro are now operational
The Royal Commission for Riyadh City (RCRC) announced that the phased rollout of Riyadh Metro culminated as of Sunday, Jan....
- The Royal commission announced the operation of three new stations on the Blue Line
- Riyadh Metro users will be received from 6:00 am until 12:00 midnight
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...
- The index has remained above the neutral level (50.0 points) since September 2020.
- Business conditions experienced a marked improvement, propelled by a substantial surge in new orders.
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...
- Fertile soil, untouched land, access to fresh water, a suitable climate, and the presence of the Helianthemum plant contribute to growth of desert truffles.
- The Qassim Truffle Festival, currently in its fourth year, is a testament to the region's truffle production.
Geostrategy
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...
- A million turkeys distributed across 150 farms, were culled, in addition to 80 percent of the total domestic poultry population, estimated to be 300,000 birds.
- Israeli forces destroyed 90 percent of the 100 cattle farms, which were breeding 50,000 calves annually, and culled 2,200 cows in 400 farms.
Business
Emirates’ first A350 takes flight
The airline operated the inaugural flight from Dubai to Edinburgh.
- The aircraft, featuring Emirates' latest cabin products, is the first of 65 A350s joining the airline's fleet over the coming years.
- Emirates has configured its A350 to provide three cabin classes, accommodating 312 passengers in 32 next-generation Business Class lie-flat seat.
Attack on Iranian vessel in Hormuz leaves one dead, 3 injured
Tehran blamed "American enemy" for the attack, which came a day before a meeting between Iran and Gulf states in Oman...
Geostrategy
Company News
SIB H1 profit up 15.3%
Business
Latest News
New Israeli settler outposts set up after wave of anti-Palestinian violence, arrests
The coordinated assaults stretched across eight governorates, leaving mosques, homes and businesses damaged as Palestinian officials warned of escalating settler...
Geostrategy
UAE’s Wadi Wurayah inscribed on UNESCO World Heritage List
The reserve is the country's third World Heritage Site and the first recognized specifically for its outstanding natural value.
Geostrategy
UN pauses air strikes on Iran amid reports of concerns over Patriot shortage
Iranian foreign ministry, meanwhile, says progress has been made in the talks held over the weekend between Tehran and Oman...
Geostrategy
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Opinion
Dubai property’s case of déjà vu
Philion says don't mistake a freeze for a fall. On the historical pattern, sharp shocks in a structurally supported Dubai...
- Golden Visa reforms now include mortgaged properties, expanding eligibility and widening Dubai's potential pool of long-term property investors significantly.
- Dubai added roughly 470 residents daily in 2025, supporting sustained housing demand under its five-million-resident D33 growth strategy.
Geostrategy
Netanyahu orders new West Bank settlements
Dubai, UAE -- Israeli Prime Minister Benjamin Netanyahu said on Friday his government would establish new settler outposts in the...
- Israeli settlements in the occupied West Bank are considered illegal under international law.
- More than 500,000 Israeli settlers live in West Bank settlements alongside about three million Palestinians.
Business
EasyLease H1 profit $12.2m
Revenue rises on stronger operations.
- Fleet exceeded 50,000 mobility assets as logistics expansion and higher utilisation supported profitability across transport and warehousing operations nationwide.
- Etihad Rail shuttle operations contributed early gains through integrated first-mile and last-mile services linking Abu Dhabi passenger destinations efficiently.