ADQ, ADNEC Group sign agreements
They will buy 40.5% stake in TMG Holding’s hospitality business.
Business
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...
Economy
Geostrategy
We oppose expansion of settlements in West Bank: State Dept
The US has said that it opposed Israel’s plans to build new settlements in occupied Palestinian territories after Israeli officials...
- The State Department’s deputy spokesperson, Jalina Porter, said that the US was aware of Israel’s decision to advance new West Bank settlements to May 12
- Israeli officials told Biden administration officials that if no new building was approved in the settlements, the government could collapse
Business
Saudi Arabia okays six tourism projects worth $400 million
Saudi Arabia has okayed six tourism projects to the tune of $400 million in the first quarter of 2022.
- Saudi Arabia’s Tourism Development Fund, on its official Twitter account, stated that it launched three main programs
- The fund also concluded partnerships and agreements with the Ministry of Culture, the Cultural Development Fund, Radisson Blu and Deutsche Hospitality
Business
Sharjah Ramadan Festival concludes with over AED250m in sales
The event drew a huge number of shoppers and visitors of different nationalities driven by the great deals, promotions and...
- The event drew a huge number of shoppers and visitors of different nationalities driven by the great deals, promotions and discounts that met their needs
- Over 2,000 shops participated in the festival, offering a wide range of products in all cities and regions of Sharjah with discounts of up to 75 percent on the most popular fashion
Geostrategy
Lebanon explores defense ties with Qatar
C1, geostrategy, Lebanon, gratitude, Qatar, support, the Lebanese Army, Minister of National Defense, Maurice Sleem, Qatari Ambassador to Lebanon, Ibrahim...
- Minister of National Defense, Maurice Sleem, on Friday welcomed Qatari Ambassador to Lebanon, Ibrahim bin Abdulaziz Al-Sahlawi
- Sleem thanked Qatar for its "permanent support for Lebanon and the Lebanese Army, which reflects the depth of the brotherly relationship that unites Lebanon and Qatar."
Economy
Lebanon expat voters’ turnout in Arab countries and Iran reaches 36.43%
The election is expected to be a referendum on the country’s ruling class, which is widely blamed for the economic...
- A total of 11,268 Lebanese in Arab countries and Iran voted in the election of the country on Friday
- This raised the overall turnout of expatriates in the country’s presidential poll to 36.43 percent
Business
Saudi Arabia to attract $32bn investment in mining sector
The investment is expected to be made in nine new projects across the country.
- The projects are aimed at supporting supplies of mineral products to local and international markets
- The ministry is currently studying 145 applications for exploration licenses from foreign companies
Geostrategy
Jordan king meets US military officials in Tampa
The meetings covered means of enhancing military and defense cooperation between Jordan and the United States.
- The meetings covered means of enhancing military and defense cooperation between Jordan and the United States
- Discussions also addressed regional and international efforts to fight terrorism within a holistic approach
Jordan’s central bank raises interest rate ‘to curb inflationary pressures’
The Central Bank of Jordan (CBJ) on Thursday decided to increase the interest rate on its various monetary policy instruments...
- The bank also decided to extend the bank’s refinancing program that targets 10 sectors of economy.
- It decided to keep the refinancing programs’ interest rates unchanged to stand at 1 per cent for projects located in Amman and 0.5 per cent for projects in other governorates.
Economy
190k tourists visit Jordan during Eid al-Fitr, says official
Jordan witnessed active tourist movement during the vacation, Ministry of Tourism and Antiquities spokesperson Ahmad al-Rifae said.
- Jordan witnessed active tourist movement during the vacation, Ministry of Tourism and Antiquities spokesperson Ahmad al-Rifae said.
- The country prepared shift programs in archaeological and public sites, and provided services to tourists and visitors during their stay
Economy
Turkey sees April inflation hit 69.97%, near 20-year high
Turkey is experiencing the highest inflation among major emerging markets and industrialized G20 economies.
- The inflation rate rose from 61.1 percent in March
- On a monthly basis, prices rose by 7.25 percent
ADQ, ADNEC Group sign agreements
They will buy 40.5% stake in TMG Holding’s hospitality business.
Business
Company News
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Americana revises timetable for concurrent dual listing on ADX, Saudi Exchange
The UAE Retail Offer and the KSA Retail Offer were oversubscribed by approximately 48.2x and 2.8x respectively.
Business
European Education Area to take EU-UAE learning cooperation to the next level, says top official
It will open opportunities for Emirati youth to study in European Union, further strengthening the existing people-to-people ties, adds Margaritis...
Geostrategy
Islamic nations seek to turn crisis into opportunity with enhanced relations, trade amidst recession fear
At the 38th Ministerial Session of COMCEC, leaders of Islamic countries discuss ways to enhance bilateral and trade relations to...
Geostrategy
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Business
Etihad Airways and Garuda expand combined offerings to 42 destinations
Abu Dhabi, UAE----UAE's national carrier Etihad Airways and Garuda Indonesia, the national flag carrier of Indonesia, will nearly double the...
- The destinations across the Indonesian archipelago, South East Asia, Middle East, US and Europe were doubled after the two partners expanded their 2012 codeshare pact.
- They also offer reciprocal miles accrual and redemption opportunities to members of Etihad Guest and GarudaMiles across both airlines' networks.
Science
UAE’s health and prevention ministry launches National Nutrition Strategy 2022-2030
DUBAI, UAE - UAE's Ministry of Health and Prevention (MoHAP) has launched the National Nutrition Strategy 2022-2030 to establish sustainable...
- National Nutrition Strategy comes as part of MoHAP’s ongoing efforts to support the UAE’s visions aimed at improving the health of younger generations.
- The strategy was launched during an event hosted by the ministry at the Etihad Museum.
Business
Kazakhstan eyes energy takeovers after blackouts, ‘mismanagement’
ALMATY, KAZAKHSTAN - Kazakhstan warned Monday it could nationalize struggling energy companies in the oil-rich Central Asian country after the...
- Kazakhstan is a net exporter of energy, but high gas prices this year fueled historic and bloody protests.
- Last month, Kazakh authorities said 65 percent of regional electricity networks needed repair.