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,...
Geostrategy
Israelis raid Al-Aqsa, homes of Palestinians in Ramallah
RAMALLAH, PALESTINIAN TERRITORIES / JERUSALEM – Israeli forces carried out Sunday a series of raids in several towns in the...
- The raids targeted the villages of Mazra'a al-Gharbiya, 'Arura, Birzeit, and Jalazone camp, north and west of the city of Ramallah.
- In Hebron, Israeli forces raided Al-Arroub camp and the towns of Beit Ummar and Bani Na'im, stormed homes, and seized vehicles.
Business
DEWA records 12.5 million digital transactions in 2023
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in...
- DEWA offers digital services for electricity and water management, as well as innovative sustainability services.
- These include smart living initiative, features like consumption monitoring, comparison with high-efficiency homes.
Business
ADQ, ADNEC Group sign agreements
They will buy 40.5% stake in TMG Holding’s hospitality business.
- ADQ and ADNEC will invest through a special purpose vehicle, with 49 percent equity ownership by ADQ and 51 percent equity ownership by ADNEC.
- ICON is a leading player in Egypt’s luxury and upscale hospitality market, with a track record of building and owning some of the most celebrated luxury hotels in Egypt.
Geostrategy
CBUAE cancels license of First Insurance Brokers Company
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) has cancelled the license of First Insurance Brokers Company...
- The sanction comes as a result of the CBUAE’s decision following the company’s non-compliance with the regulations.
- The CBUAE works to ensure that all insurance companies and related professionals comply with laws and regulations.
Business
NEOM announces Aquellum as futuristic lifestyle community
NEOM, SAUDI ARABIA - The Board of Directors of NEOM has announced Aquellum, a luxury and experiential space embedded within...
- Aquellum is hidden within a breathtaking 450-meter-high mountain range.
- The subterranean digitalized community creates vibrancy and interconnectivity.
Geostrategy
Saudi Arabia signs MoUs with four countries for development in mining industry
RIYADH, SAUDI ARABIA – The Ministry of Industry and Mineral Resources has signed four Memorandums of Understanding (MoUs) with the...
- The roundtable highlighted the need for governments and industry to achieve economic and social development for local communities.
- A total of 79 governments, 13 international organizations, 15 NGOs and seven business associations took part in the roundtable.
Business
FAB issues first Sukuk globally in 2024
ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps,...
- The allocation sees 76 percent directed towards dedicated Islamic investors and 38 percent towards international counterparts.
- The 1.9x oversubscribed order book represented high-quality investors, including international fund managers, supranational and banks.
Economy
UAE economy likely to grow by 3.8 percent in 2025, says World Bank
WASHINGTON, US - The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to...
- The World Bank forecast the growth in the Gulf Cooperation Council countries to rise to 3.6 percent in 2024 and 3.8 percent in 2025.
- The report said that the growth rate in the Middle East and North Africa region slowed down sharply to 1.9 percent in 2023.
Business
Air cargo demand up 8.3 percent in November 2023, says IATA
GENEVA, SWITZERLAND - The International Air Transport Association (IATA) released data for November 2023 global air cargo markets indicating the...
- This reflects a fourth consecutive month of strengthening demand for air cargo.
- Most of the capacity growth continues to be attributable to the rise in belly capacity.
Geostrategy
Israel is starving Gaza residents, says NGO
RAMALLAH, PALESTINIAN TERRITORIES - Everyone in Gaza is going hungry and about 2.2 million people are surviving day by day...
- The NGO said that Gaza Strip was already in the throes of a humanitarian crisis before the war, mainly due to Israel’s 17-year blockade.
- Given this starting point, it is clear as to why the Gaza Strip plummeted into a full-blown catastrophe so quickly.
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
North Korea shows first photos of banned uranium enrichment site
North Korea for the first time showed images of the centrifuges that produce fuel for its nuclear bombs on Friday,...
Geostrategy
‘Visa-free entry for GCC nationals will enhance business collaboration’
In an interview with TRENDS, CEO of ITCN Asia, Muhammad Umair Nizam highlights the expanding role of Pakistani IT firms...
Central & Southern Asia and Oceania region leads the world in cryptocurrency adoption
The fifth annual Chainalysis Global Crypto Adoption Index looks at both on- and off-chain data to determine which countries are...
Economy
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Economy
How Pakistan is becoming a top tech hub in the GCC
Pakistan's IT sector is thriving, with growing exports and recognition as a tech hub, driven by government support, skilled talent,...
- While Pakistan has been declared the "Tech Destination of the Year" at GITEX GLOBAL 2024, one of the key players driving this growth is the Pakistan Software Houses Association
- Across the GCC, Pakistani companies provide cybersecurity and AI driven solutions across various sectors, including banking and fintech industries
Qatar strikes new 15-year 3 mtpa LNG supply deal with Kuwait
Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for...
- Kuwait has been boosting its reliance on imported gas to meet power demand
- Qatar this year announced a further expansion of its North Field project
Business
China’s robot makers chase Tesla to deliver humanoid workers
Beijing, China - China dominates the market for electric vehicles. Now it's chasing in the race to build battery-powered humanoids...
- Annual global market for humanoid robots could reach $38 billion by 2035
- Tesla, reiterated it expected to move beyond prototypes to start producing Optimus in small volumes next year