Two-State solution nearing point of no return: UN chief
He renewed calls for an immediate and lasting ceasefire, the unconditional release of all hostages, and full humanitarian access. He...
Geostrategy
Travel and tourism sector contributes 11.4 percent to Gulf’s GDP
Muscat, Oman -- Travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent,...
Infographics
Oman’s Loan-to-Deposit ratio best in GCC
The Gulf region’s loan-to-deposit ratio fell by 160 basis points in the second quarter of 2022, due to higher customer...
- The loan-to-deposit ratio dropped below 80 percent for the first time in seven quarters in August.
- A drop in LDR means increased level of liquidity, which in turn indicates that banks are more capable of dealing with unforeseen events like loan losses.
Geostrategy
‘UAE President’s speech at COP27 outlined vision for climate action’
SHARM EL SHEIKH, EGYPT - UAE Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber said that...
- UAE Minister of Industry said effective climate action accelerates opportunities for sustainable economic and social development.
- The minister said that the President's speech emphasized that continuity and perseverance are at the core of the UAE’s strategy.
Business
2 Emirates NBD India branches
The branches cater to northern, southern areas.
- In 2017, the bank inaugurated its first full-fledged branch in India’s commercial centre, Mumbai.
- The bank’s 60-second zero-fee digital funds transfer service to India, DirectRemit, has facilitated 2.5 million remittances to India.
Economy
Oman state budget surplus $2.92 billion by September end: Ministry
Muscat, Oman---Oman’s budget achieved a surplus of RO 1.123 billion ($2.92 billion) at the end of September 2022, the country's...
- The country reported deficit of RO 1.030 billion for the same period last year, the finance ministry said.
- Oman's public revenues were up by more than 43 percent due to an increase in oil prices and production.
Economy
Jordan’s real estate trading up 23% in January-October of 2022
AMMAN, JORDAN - Jordan's real estate trade picked up by 23 percent to US$6.8 billion (JD4.875 billion) in 2022's January-October...
- State's revenue from the real estate market stood at US$344 million by the end of October in Jordan.
- Trade volume in the Jordanian real estate market went up in October 2022 by 21 percent compared to October 2021.
Science
Hub71, Yahsat partner to support satellite operations tech
Hub71 and Yahsat are both supported by Mubadala investment company.
- The two companies are supported by Mubadala investment company
- Hub71 is now home to almost 200 startups working across 20 sectors
Economy
UAE, Turkish FMs discuss food and energy security
The two ministers also discussed prospects of bilateral cooperation and partnership between the UAE and Türkiye.
- The two ministers also discussed prospects of bilateral cooperation and partnership between the UAE and Türkiye
- Sheikh Abdullah congratulated Çavuşoğlu on the resumption of the grain-export deal through the Black Sea to international markets
Economy
UAE removes most Covid restrictions and eases mask rules
Dubai, UAE—The United Arab Emirates has dropped almost all Covid restrictions as the rate of infection considerably drops in the...
- Wearing masks in the UAE will now be optional in all open and closed facilities, including places of worship and mosques
- Organizers of sports activities also have the option to require PCR tests or vaccination certificates as requisite to participate or attend their events
Business
Flydubai scales up flights
It will run new flights to Europe and Asia in 2023.
- The new flights will run to European cities such as Milan and Cagliari in Italy as well as Corfu in Greece
- The launch of the six new routes will elevate flydubai’s network to a total of 113 destinations across 53 countries
Saudi F-15S jet crashes, pilots eject unharmed
The aircrew, consisting of two officers, survived the incident after using the ejector seat.
- The aircrew, consisting of two officers, survived the incident after using the ejector seat
- An investigation committee has been set up to uncover the reasons behind this incident
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
Two-State solution nearing point of no return: UN chief
He renewed calls for an immediate and lasting ceasefire, the unconditional release of all hostages, and full humanitarian access. He...
Geostrategy
Company News
Latest News
MENA region can create 10m jobs by 2050 via climate action, says ILO
DUBAI, UAE - International Labor Organization (ILO) Deputy Regional Director for the Arab States Peter Rademaker has confirmed that the...
COP28 UAE
AD Ports, Kazakhstan Railways form venture to boost services
Abu Dhabi, UAE - AD Ports Group signed an agreement with Kazakhstan Temir Zholy JSC (Kazakhstan Railways to form a...
Business
Climate chaos impact on millions frames discussions at COP28
With the countless repercussions of extreme weather conditions, the planet is witnessing increasing political unrest, deaths and diseases.
COP28 UAE
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Business
Mumtalakat, Investcorp ink pact
The firms have jointly launched a climate investment platform.
- The platform will make investments in businesses where they have matured past many of the risks that face earlier stage ventures.
- They must manage and minimize the execution risks associated with expansion in middle-market investments.
Business
Astra Tech to launch financial services powered by AI in 2024, says CEO
ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first...
- The CEO said that Astra Tech plans to enter new financial sectors and make acquisitions in South Asia, including India.
- He said that the company is looking to expand into Saudi Arabia to enhance its services in this vital market.
Business
58% of firms in Saudi Arabia plan to outsource cybersecurity
RIYADH, SAUDI ARABIA - Company bosses are boosting their cybersecurity following an alarming increase in cyberattacks, a new study commissioned...
- A survey gathered information about people who influence cybersecurity, looking at both internal staff, and external actors.
- The survey also analyzed levels and types of online safety company bosses believed warranted investment.