Gold extends winning streak as oil and dollar weaken
The U.S. Dollar Index fell to 99.53, giving back part of the gains it had recently recorded on safe-haven demand....
Business
Vance says Hormuz reopening details pending as Israel vows to stay in seized territories
Fresh questions emerged over implementation of the US-Iran agreement as negotiators grappled with security guarantees, territorial disputes and unresolved nuclear...
Geostrategy
Business
There is a high risk of famine in Gaza, says UN
ROME, ITALY - The population of Gaza, especially women and children, risk famine if humanitarian food supplies do not continue, the...
- The World Food Program said that six days was "not enough to make any meaningful impact".
- The World Food Program said that six days was "not enough to make any meaningful impact"
Geostrategy
It’s official: Saudi Arabia will host World Expo 2030
The Kingdom's selection as the host for World Expo 2030 marks a pivotal moment in its journey towards innovation, openness,...
- The Kingdom's selection as the host for World Expo 2030 marks a pivotal moment in its journey towards innovation, openness, and global connectivity.
- This monumental global event in Riyadh will showcase Saudi Arabia's transformation and commitment to a forward-looking and sustainable future.
Economy
Qatar’s consumer price index rises by 1.08% in October 2023
DOHA, QATAR - The Consumer Price Index (CPI) for October 2023 reached 108.09 points, showing an increase of 1.08 percent...
- Comparing the CPI of October 2023 with October 2022, an increase has been recorded by 2.52 percent on an annual basis.
- The CPI of October 2023 recorded an increase by 1.48 percent when compared to the index of September 2023.
Business
Dubai Airshow 2023 to see 1,400 exhibitors from 95 countries
DUBAI, UAE – The biggest edition of the Dubai Airshow, a significant global event for the aerospace, space and defense...
- More than 1,400 exhibitors from 95 countries and over 300 international speakers will gather at the at Dubai World Central.
- Dubai Airshow 2023 is also set to welcome leading and new airlines from across the globe, ready to showcase new concepts to the industry.
Business
Luberef’s 9M profit up 2%
The company's third-quarter net profit dropped 28 percent.
- The nine-month profit was spurred by lower Zakat and income tax expenses, as Luberef has become subject to tax after listing its shares, Argaam reported.
- Luberef’s bottom line dropped 25.2 percent quarter-on-quarter (QoQ) from SAR 454.86 million in Q2 2023, hurt by lower base oil crack margins, according to Argaam.
Economy
Gaza suffers critical food shortages amid conflict
Gaza faces a dire humanitarian crisis as food supplies near exhaustion and the financial sector falls into chaos amid the...
- Gaza faces a dire humanitarian crisis as food supplies near exhaustion and the financial sector falls into chaos amid the ongoing conflict, a WFP report indicates.
- With a projected drop in Palestine's GDP and daily economic activity at a standstill, WFP calls for global intervention to prevent a full-scale food security disaster.
Geostrategy
Bilateral trade in 2023 to overtake 2022 figures, says Canada’s envoy to UAE
ABU DHABI, UAE - Trade between the two countries is on an upswing with volumes this year expected to surpass...
- Trade between the UAE and Canada, worth US$4.1 billion in 2022, surpassed the 2021 figure of US$3.4 billion (AED12.7 billion).
- Bilateral trade to the tune of US$1.8 billion in H1 2023 (January to June) exceeded the US$1.7 billion worth of trade in H1 2022.
Business
UDC posts net profit of US$63m
The net profit has been reported for the first nine months of 2023.
- The company said that the Earnings per Share (EPS) amounted to US$0.01 (QR 0.065) as of September 30, 2023.
- UDC is a Qatari public shareholding company and the master developer of The Pearl and Gewan Islands.
Business
QFZ, Samsung C&T ink MoU
The two will collaborate in green, sustainable technologies.
- Both the parties will work together to achieve sustainability objectives within the free zones in Qatar through energy transition.
- QFZ, Samsung C&T will also explore co-investment opportunities in green infrastructure within the free zones.
Economy
China’s GDP rises above forecasts, boosted by robust recovery efforts
BEIJING, CHINA - China's Gross Domestic Product (GDP) grew by 4.9 percent year-on-year in the third quarter, surpassing economists' predictions...
- Analysts believe China is on track to meet its annual growth target of approximately 5 percent this year.
- Data from China’s National Bureau of Statistics revealed a 5.2 percent growth for the first three quarters.
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
Gold extends winning streak as oil and dollar weaken
The U.S. Dollar Index fell to 99.53, giving back part of the gains it had recently recorded on safe-haven demand....
Business
Company News
Dar Alarkan 2024 profit up 32%
Business
Latest News
No option but to continue resistance, says Hezbollah after deadly Israeli strikes
Mahmud Qamati, a Hezbollah official, described the strike in the Bekaa Valley as “a new massacre and a new aggression”...
Geostrategy
US–Iran tensions escalate toward war as Gulf military buildup and Israeli preparations intensify
Indirect talks in Geneva have yielded what officials call “guiding principles” for a possible agreement, but the framework remains skeletal...
Geostrategy
Trump signals second carrier deployment as US-Iran prepare to resume talks
In interviews with Israeli media, Trump warned of consequences if negotiations fail. “Either we reach a deal or we'll have...
Geostrategy
Most Read
Geostrategy
Iran signals potential dilution of highly enriched uranium if sanctions are lifted
Iran and the US resumed indirect nuclear talks on Monday in Muscat under Omani mediation, marking the first round of...
- Media speculation has focused on Iran’s stockpile of around 400 kilograms of enriched uranium, with reports suggesting Washington has sought its transfer to a third country
- Eslami said Iran continues to engage with International Atomic Energy Agency under existing safeguards agreements, including discussions related to nuclear facilities
Geostrategy
Iran says US talks in Oman a ‘good beginning’ as fears of military confrontation grow
The discussions took place in Muscat, with the US delegation led by special envoy Steve Witkoff and the Iranian side...
- Oman said its foreign minister held separate meetings with Araghchi, Witkoff and US President Donald Trump’s son-in-law and emissary Jared Kushner
- According to a statement, the “consultations focused on preparing the appropriate conditions for resuming diplomatic and technical negotiations.”
Economy
The great tech reset: How the gulf turned sovereign capital into a tech ecosystem
The GCC has quickly moved from passive capital allocation into active ecosystem building, spurred on by heavy sovereign capital and...
- Heavy bets on cloud, AI infrastructure, and data centers are reshaping the region’s tech base
- The UAE and Saudi Arabia are fast closing the infrastructure gap with global tech leaders