Saudi Arabia partners with World Bank to launch global knowledge hub in Riyadh
According to World Bank Group President Ajay Banga, “The new Knowledge Hub being created by the World Bank Group and...
Business
End of a love affair: news media quit X over ‘disinformation’
Paris, France -- News outlets have begun quitting X, formerly Twitter, once a favorite of global media but now accused of...
Geostrategy
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
Business
flynas UAE expansion plan to increase number of routes, flights
Dubai, UAE -- flynas, the Saudi budget carrier, has announced expansion plans for the UAE from September this year, which...
- The carrier unveiled expansion plans for the UAE on the sidelines of the Arabian Travel Market (ATM).
- Starting September 2024, flynas will expand its operations to include Abu Dhabi, Sharjah, and Al Maktoum International (DWC).
Business
IHC Q1 net profit $2.17bn
The company launches Share Buyback Programme
- IHC's robust performance in Q1 2024 led to a Profit after Tax margin of 41.6 percent and earnings per share of AED 2.17.
- This growth was propelled by strong performances across IHC’s core sectors of Real Estate & Construction, Technology, Marine & Dredging, Food, and Services & Others.
Business
Dubai records 5.18m international overnight visitors in Q1
Dubai, UAE -- Dubai welcomed 5.18 million international overnight visitors from January to March 2024, an 11 percent rise over...
- Dubai begun 2024 by being named the No.1 global destination for an unprecedented third successive year in the Tripadvisor Travellers’ Choice Awards.
- From January to March, the Western Europe region was Dubai’s biggest source market with 1.138 million arrivals, a 22 percent overall share.
Saudi Arabia partners with World Bank to launch global knowledge hub in Riyadh
According to World Bank Group President Ajay Banga, “The new Knowledge Hub being created by the World Bank Group and...
Business
Company News
Latest News
Masdar acquires Saeta Yield
Business
Foreigners and institutions pour $4.9 billion into UAE equities
Abu Dhabi, UAE -- Net investments by foreigners and institutions in UAE equities amounted to AED 18.3 billion ($4.9 billion)...
Business
Saudi leisure tourism surges by 656% in 2024: Tourism Ministry
Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector, particularly the leisure and holiday segments, witnessed substantial growth in 2024.In a...
Business
UAE captures 30% of Middle East cinema market share in 8 months
Abu Dhabi, UAE -- The UAE cinema sector achieved revenues of AED 517 million during the first eight months of...
Business
Most Read
Economy
Middle East & North Africa: Regulatory momentum and DeFi fuel crypto adoption
The Middle East & North Africa (MENA) region ranks as the seventh-largest crypto market globally in 2024, with an estimated...
- Centralized exchanges (CEXs) remain the primary source of crypto inflows across MENA
- Across MENA, stablecoins and altcoins are gaining market share over traditionally preferred assets like bitcoin and ether
Business
Masdar acquires Saeta Yield
The deal is estimated to be valued at $1.4 billion.
- Saeta is a leading independent developer, owner and operator of renewable energy assets.
- Masdar recently announced an agreement with Endesa to become a portfolio asset partner for Spain's 2.5 GW renewable energy projects.
Geostrategy
Media gag and manufactured consent: Israel’s campaign against Lebanon
Beirut, Lebanon: On Sunday, Israeli troops stormed the Al Jazeera office in the occupied West Bank and issued a 45-day...
- Israel's claim last year that Gaza's largest Al-Shifa Hospital housed Hamas command center was debunked by many.
- Before launching deadly strikes on Lebanon, Israeli military released videos claiming civilian homes housed arms.