Iran says Hormuz remains closed despite transit agreement with Oman
US president Donald Trump, meanwhile, says that all mines have been cleared from the waterway's international waters and that Tehran...
Geostrategy
Iran calls new US sanctions ‘declaration of war’ against all countries
US president Donald Trump, meanwhile, says he views the Strait of Hormuz as 'an American territory' and Iran 'cannot be...
Geostrategy
Business
PIF completes investment in MEPCO
The sovereign wealth fund acquired 23% stake in the firm.
- MEPCO is a manufacturer specializing in the production and recycling of paper-based products in the Middle East and North Africa region.
- PIF aims to expand MEPCO production, enhance its operational efficiency, and support environmental sustainability, through recyclable products, including paper goods.
Business
UAE creates ‘Parkin’ to oversee parking space operations in Dubai
Dubai, UAE - The UAE has issued a law establishing ‘Parkin’, a public joint stock company (PJSC) that will oversee...
- Parkin PJSC is likely to be tasked with creating, planning, designing, operating and managing public parking spaces
- The newly established company will have financial, administrative and legal autonomy to fulfil its responsibilities
Economy
Jordan’s public debt rises to $46.1bn by Oct 2023 end: Ministry
Dubai, UAE -- Jordan's public debt till the end of October 2023 has risen to $46.1 billion, 89.6 percent of...
- The Ministry of Finance said the government had borrowed $3.8 billion in the first ten months of 2023.
- In Dec, Jordan approved the 2024 budget with a deficit of $1.6 billion, expecting the country's public debt this year would make up 88.3 percent of the GDP.
Geostrategy
4,156 Palestinian students killed in Israeli Gaza and West Bank assault
The Palestinian Ministry of Education said that since the beginning of the aggression, the number of students killed in the...
- In the occupied West Bank, 37 students were killed and 282 others were injured, with 85 others arrested.
- A total of 278 public school and 65 others affiliated with the UNRWA were bombarded and vandalized in Gaza.
Business
flynas flies over 11m passengers in 2023, up 28 percent from 2022
RIYADH, SAUDI ARABIA – flynas reported record results for its performance in 2023 compared to the previous year 2022, with...
- The low-cost carrier has taken delivery of 19 new aircraft during 2023, upscaling fleet size to 64, a rise of over 35 percent.
- flynas launched 57 new destinations and increased seat capacity by 22 percent for domestic and international flights in 2023.
Geostrategy
GCC makes pivotal strides in development, diplomacy
In 2023, Saudi Arabia, UAE, Qatar, Bahrain, Oman and Kuwait collectively advanced in technology and sustainable development, achieving global integration.
- In 2023, the region including Saudi Arabia, UAE, Qatar, Bahrain, Oman and Kuwait, collectively advanced in technology and sustainable development, achieving global integration.
- From Saudi Arabia's ambitious Al-Diriyah project to the UAE's leadership role in hosting COP28, each nation contributed uniquely to the region's dynamic presence on world stage.
Business
Saudi EXIM Bank ink $51bn deal with Turkish firms
Riyadh, Saudi Arabia - Saudi EXIM Bank signed line of credit agreements worth $51 million with Türkiye Finans Katılım Bankası...
- The agreement is likely to help boost trade between the two countries and facilitate the flow of Saudi non-oil exports to the Turkish markets
- The agreement with Türkiye Finans Katılım Bankası A.Ş values at $26 million, the one with Albaraka Türk Katilim Bankasi A.S. at $25 million
Arts & Culture
Desert jewel: Saudi Arabia’s oldest nature reserve Hurra Al-Hurra
Turaif, Saudi Arabia - Hurra Al-Hurra Reserve is one of the first protected areas in Saudi Arabia, located in the...
- Located in the Northern Border and Al-Jawf regions, it lies within the boundaries of the King Salman bin Abdulaziz Royal Reserve in the northwest of Saudi Arabia.
- Hurra Al-Hurra and its surrounding areas feature a diverse landscape, with depressions, watersheds, valleys and an abundance of springs scattered throughout the area.
Geostrategy
Under fire Harvard University president to stay after anti-Semitism row
CAMBRIDGE, US - Harvard University's president, under fire over testimony she gave about anti-Semitism on campus, will remain in her job...
- Claudine Gay has been facing criticism after she declined to unequivocally say whether calling for genocide of Jews violated Harvard's code of conduct.
- Over 70 lawmakers including two Democrats called for her resignation even as several high-profile Harvard alumni and donors have called for her departure.
Geostrategy
Digitalization has high environmental costs, says UNCTAD meet
DUBAI, UAE - With global attention on the COP28 climate summit, UNCTAD’s eWeek 2023 highlighted digitalization’s potential to accelerate climate...
- Data-driven technologies like the Internet of Things, robotics and artificial intelligence can enhance climate change monitoring.
- The digital transformation has left its mark on the planet through raw material depletion, energy and water use, pollution and waste.
Iran says Hormuz remains closed despite transit agreement with Oman
US president Donald Trump, meanwhile, says that all mines have been cleared from the waterway's international waters and that Tehran...
Geostrategy
Company News
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AD Ports Group acquires CLI
Business
Gold prices fall 1 percent on Fed rate rise expectations, gold edges higher
Brent crude futures rose 24 cents, or 0.38%, to $78.15 a barrel by 0026 GMT, while U.S. West Texas Intermediate...
Business
AI to cancer vaccines: Emerging technologies edge closer to large-scale adoption
World Economic Forum's Top 10 Emerging Technologies Report 2026, developed alongside the Dubai Future Foundation, has identified 10 technologies that...
Geostrategy
Abu Dhabi new business licenses rise 21% in first quarter, ADRA says
New economic licences issued in Abu Dhabi rose 21% in the first quarter of 2026 from a year earlier, reflecting...
Business
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Economy
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...
- Top 10 sovereign wealth funds hold more than 75% of global assets.
- Sovereign wealth funds reached about $15 trillion in assets under management in 2025.
Geostrategy
Iran talks: Washington, Tehran agree mechanisms for Lebanon ceasefire, Hormuz security
Qatar and Pakistan, which mediated the negotiations at a lakeside resort in Switzerland, said in a joint statement that Washington...
- Iranian Foreign Minister Abbas Araghchi said on social media that "major progress" had been achieved toward ending the conflict in Lebanon.
- Iranian state media reported that sanctions relief, particularly measures affecting the country's oil industry, was also discussed during the Swiss meetings.
Geostrategy
Digital Dubai’s contribution lifts Dubai in global city brand rankings
DUBAI, June 22 — Digital Dubai contributed an estimated AED31 billion ($8.5 billion) to Dubai’s overall brand value, helping the...
- The study said Digital Dubai accounted for a significant share of Dubai’s nearly AED1 trillion place-brand value.
- It also played a key role in boosting the emirate’s standing in the City Brand Strength Index, where Dubai scored 86 out of 100.