Ground operation likely in Gaza Strip, says Israeli envoy to Russia
MOSCOW, RUSSIA - The probability that the Israel Defense Forces (IDF) will launch a ground operation against Palestinian group Hamas...
Geostrategy
Business
Securrency Capital picks advisor
Ryan Lemand has joined the brokerage as a board advisor.
- Lemand holds a PhD in financial econometrics, and is the author of two books on financial contagion
- Securrency Capital is a blockchain-enabled brokerage providing access to trading in traditional and digital assets
No suspension of flights, says Iraq’s civil aviation authority
"There is no suspension of flights in accordance with the instructions and directives", an official confirmed.
- The Supreme Committee for National Health and Safety issued several decisions, including instructing departing and arriving travelers
- The Aviation Authority will notify the companies of presenting the international vaccination card for departures and arrivals with a (PCR) examination (72) hours before the flight
Economy
Residential areas in focus as real estate prices surge in Kuwait
The real estate housing price rose in Kuwait last year, where investors focused on Kuwaitis' residential areas dealing in uninhabited...
- Some residential districts, mainly inhabited by citizens, witnessed more than 35 percent rise in rates of the plots, leading to record growth of property assets
- The investors sold 375-square-meter houses in Kuwaiti's residential districts such as Al-Khaldiya and Al-Yarmouk in May at a profit of $300,000 in May
Geostrategy
Iran, Syria to establish joint free zone, joint bank
Qasemi, who headed a high-ranking delegation to Syria, met with senior officials from Syria.
- The decisions for the establishment of the mentioned entities were made during a three-day visit of the Iranian minister to Syria
- Iranian Transport and Urban Development Minister Rostam Qasemi announced a joint committee is set to be formed between Iran and Syria
Economy
S&P affirms Kuwait credit rating at A+ with negative outlook
"The government has almost exhausted the General Reserve Fund's liquidity", said the rating agency.
- It argued that despite higher oil prices and production levels, Kuwait's central government deficits are set to average 12 percent of GDP
- It, however, noted that it could revise the outlook to stable if the government successfully addresses Kuwait's existing fiscal funding constraints
Business
DEWA honors suppliers for ‘commitment to highest standards’
In a virtual ceremony, Dubai Electricity and Water Authority (DEWA) has recognized 41 of its suppliers for their commitment to...
- The suppliers were honored in the Strategic, Principal, and Main supplier categories
- The suppliers said that DEWA provides many opportunities to them according to the highest standards of integrity and transparency
Business
Saudi Customs impound 8.3m amphetamine pills
The Saudi Zakat, Tax and Customs Authority has made a large seizure of Captagon amphetamine pills at Jeddah Islamic Port,...
- The authority explained that the first consignment, which contained onions, was subject to customs procedures and examination through security techniques and police dogs
- Three people were arrested by the General Directorate of Narcotics Control
Geostrategy
Iran and China push for fulfillment of 25-year agreement
More than fifty years after establishing diplomatic ties, China and Iran accelerate implementation of the Iran-China 25-year cooperation program, which...
- The two sides enjoy common stances on several regional and international issues such as efforts to contain coronavirus, production of joint vaccines, fight against terrorism
- The Chinese and Iranian foreign ministers met on the sidelines of the Shanghai Cooperation Organization summit in Dushanbe, Tajikistan
Business
World’s first ‘experiential food & bar hall’ officially open
A 20,000 ft space, the experiential, urban food and bar hall spans across the UAE’s iconic waterfront destination The Pointe.
- A 20,000 ft space, the experiential, urban food and bar hall spans across the UAE’s iconic waterfront destination The Pointe
- The venue, which seats 600 guests, and 1200 guests at full capacity, offers consumers an exceptional multi-sensory dining experience unlike any other
Economy
Rabat: ‘MoroccoTech’ brand to promote digital sector
MoroccoTech aims to position the country as a digital destination of choice internationally.
- MoroccoTech aims to position the country as a digital destination of choice internationally
- The initiative is intended to promote Morocco as a producer of premium technologies and an investment destination
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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
Company News
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UAE solar energy leader in Arab world
Infographics
UAE-UK partnership may unlock potential of clean hydrogen, boost economy, create 200,000 new jobs
The latest WGEO study is part of "our efforts to support the Dubai Clean Energy Strategy 2050 and the Dubai...
Analysis
UAE-Egypt trade touches $67 billion in the last 22 years
The economic ties between the UAE and Egypt were strengthened this year by the signing of the Industrial Partnership for...
Economy
Most Read
Infographics
UAE, Saudi pension systems improve performance on 2022 Mercer CFA Index
The 2022 Mercer CFA Institute Global Pension Index compares 44 retirement income systems against more than 50 indicators and benchmarks.
- The CFA Institute said the index highlights both the considerable diversity and the positive features present in many systems.
- The study also confirms that no pension system is perfect and that every system has shortcomings.
Business
Empower to sell 10% stake, list on DFM
Empower will make 1 bn shares, each valued AED0.10, available in IPO.
- The company said that all shares to be offered represent the sale of existing shares held in aggregate by DEWA and Emirates Power.
- The subscription period will open on 31 October 2022 and is expected to close on 7 November 2022 for the UAE Retail Investors and on 8 November 2022 for Qualified Investors.
Economy
Oman’s CPI inflation rate rises 2.4 percent in September
MUSCAT, OMAN - The inflation rate of Consumer Price Index in Oman reached 2.4 percent during September 2022. A monthly...
- The report noted prices of education group increased by 5.1 percent.
- The prices of health group and food group surged by 3.5 percent and 5 percent respectively.