Iran dismisses new US sanctions threat as ‘same movie’ amid escalating economic war
Araghchi’s comments came as Washington signalled that its next round of measures would go beyond targeting Iran itself, potentially placing...
Geostrategy
Dubai completes 104 real estate projects worth over $30.22 billion
Dubai completed 104 real estate projects worth more than AED111 billion in the first half of 2026, according to Dubai...
Business
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.
Business
GCC unified tourist visa to be introduced within 2 years, says UAE minister
ABU DHABI, UAE – Emirati Minister of Economy Abdullah bin Touq Al Marri has announced that the Gulf Cooperation Council...
- The new visa will open doors to travelers, granting them access to six countries under a single, unified tourist visa.
- The minister said the UAE is getting ready to welcome the new flow of international tourists with the new unified visa.
Economy
Solana Foundation joins DMCC Crypto Center as ecosystem partner
DUBAI, UAE: DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has...
- The partnership compliments DMCC’s existing offerings and collaborations by increasing its members’ ability to develop their concepts using Solana.
- Through this collaboration, Solana will offer technical and business development support to DMCC Crypto Centre members.
Business
Container traffic rises 11.66 percent in September, says Mawani Â
RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) reported an 11.66 percent surge in container traffic across its trade...
- Passenger traffic jumped 79.29 percent over the preceding year’s figure of 40,679 passengers to hit 72,934 passengers in 2023.
- Mawani’s ports saw 11.83 percent additional vessels dock at its berths with a tally of 1,040 ships contrary to last year’s 930 ships.
Iran dismisses new US sanctions threat as ‘same movie’ amid escalating economic war
Araghchi’s comments came as Washington signalled that its next round of measures would go beyond targeting Iran itself, potentially placing...
Geostrategy
Company News
$1.59bn Makkah project awarded
Business
Latest News
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...
Geostrategy
Saudi Arabia cuts US Treasury holdings by $9.5 billion in April
Dubai, UAE -- Saudi Arabia reduced its holdings of U.S. Treasury securities by $9.5 billion in April to $140.1 billion,...
Business
Dubai completes 30% of dedicated bus and taxi lanes expansion project
Dubai, UAE -- Dubai's Roads and Transport Authority (RTA) has completed 30% of a project to build 14.5 km of...
Geostrategy
Most Read
Business
Saudi tourist arrivals rise to 122.6 million in 2025, spending hits $81 billion
The growth was driven primarily by domestic travel, which reached 93.3 million tourists, up 8.3% from 2024, while inbound visitor...
- Leisure and holiday travel attracted 7 million visitors, while visits to friends and relatives totaled 4.4 million. Business travel rose 14% to 2.3 million visitors.
- Hospitality capacity expanded sharply, with licensed rooms rising 25.4% as tourism's contribution to GDP edged higher.
Geostrategy
Trump threatens Hormuz tolls as Iran keeps strait closed ahead of Switzerland talks
The developments came ahead of technical talks between U.S. and Iranian officials expected in Switzerland as both sides seek to...
- Iran links renewed Hormuz closure to continued Israeli strikes in Lebanon and questions implementation of the interim accord.
- Lebanon's state news agency NNA said Israeli strikes killed at least 20 people on Saturday.
Geostrategy
Iran closes Hormuz over Lebanon strikes as US, Iranian teams head to Switzerland
Iran's joint military command said the move was prompted by what it described as Israeli violations of the understanding reached...
- Technical discussions on implementing the interim accord are expected in Switzerland amid mounting regional tensions and uncertainty.
- Lebanon's health ministry said the death toll since the latest Israel-Hezbollah conflict erupted on March 2 had reached 4,057.