Cruise visitors to Qatar in 2022-23 rise 151 percent
DOHA, QATAR - New data from Qatar Tourism (QT) revealed that the country welcomed 253,191 cruise visitors during its 2022-23...
Business
CBUAE balance sheet rises to US$172bn at end of April 2023
ABU DHABI, UAE - The Central Bank of the UAE's (CBUAE) balance sheet grew by 6.3 percent on a monthly...
Business
Economy
Mikati seeks global support to revive Lebanon
The country no longer has the money needed to support its economy, says the new Prime Minister Najib Mikati said...
- Lebanon is going through a major economic and political crisis
- The World Bank has termed it as one of the deepest recessions recorded in modern times
Tehran to issue 20 million more Justice Shares
Issued during the rule of former president Mahmoud Ahmadinejad in 2006, the Justice Shares were intended to assist economic privatization...
- The value of the portfolios of shareholders, which are estimated to be 49 million, has grown nearly ten times.
- The number of state-owned enterprises that were supposed to be privatized under the justice share program is now 49, valued at $21.8 billion.
Iran detects 5,380 illegal energy-guzzling crypto farms
The power consumption of the farms equaled that of 2 million people.
- A farm that consumed 4 percent of the country's electricity was discovered in June.
- Iran has banned mining of cryptocurrencies till September 22.
Economy
Iran’s mega housing project faces infra hurdles
The one-million housing project is part of Iran’s plan to provide a total of six million houses for its underprivileged...
- Iran is trying to implement the one-million housing project to deliver affordable houses to its populace
- However, the lack of infrastructure, such as water, electricity, and gas, could pose a serious challenge to this project
Business
WhatsApp users may encrypt backups
FB was recently accused of breaching WhatsApp users’ privacy.
- Mark Zuckerberg has announced that WhatsApp will let users encrypt chats they choose to back up
- The facility will be available for users of devices that can run Apple’s iOS and Google’s Android
Economy
MarsRise to colonize Mars by becoming the next MoonShot
MarsRise is a deflationary token found on the Binance Smart Chain, which comes with an automatic liquidity pool growth, and...
- MarsRise is a deflationary token found on the Binance Smart Chain, which comes with automatic liquidity pool growth, and therefore the holder rewards through transaction taxation
- It has automated Liquidity and its Strategic Buyback is distributed to the locked liquidity on every transaction, making MarsRise one of the best in this game
Jordan’s gaming app Jawaker sold for $205m to Stillfront Group
The popular Jordanian online card game studio, Jawaker, was bought by global gaming company Stillfront Group in a $205 million...
- The game studio operates a hub with more than 30 products, and over 50% of Jawaker’s users play two or more games every week using the app
- The buyout allows Stillfront Group to strengthen their foothold in the MENA region
Business
Saudi Arabia decides to accept IATA Travel Pass
IATA Travel Pass is a personal secure digital wallet solution that helps travellers understand travel requirements and present their verified...
- IATA and Saudi Arabia are working to restore international travel.
- More than 80 airlines have announced trials of the IATA Travel Pass
Business
Saudi Arabia to host region’s first poultry event of its kind
The first Middle East Poultry Exhibition and Conference will be held under the theme Contribution of Enhancing Food Security.
- The event will be held at the Riyadh International Convention and Exhibition Center from March 14 to 16, 2022
- It aims to be a landmark event for the scientific and commercial exchange in the poultry industry at the local and regional levels
Biden calls Xi to ease friction in US-China ties
President Joe Biden spoke with China’s Xi Jinping on Thursday amid growing frustration on the American side that high-level engagement...
- The White House is hopeful the two sides can work together on issues of mutual concern despite growing differences
- The White House is hopeful the two sides can work together on issues of mutual concern — including climate change and preventing a nuclear crisis on the Korean Peninsula
Cruise visitors to Qatar in 2022-23 rise 151 percent
DOHA, QATAR - New data from Qatar Tourism (QT) revealed that the country welcomed 253,191 cruise visitors during its 2022-23...
Business
Company News
Zain Group Q2 net profit $165m
Business
Delta orders Airbus jets
Business
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SAMI, Lockheed Martin sign pact
Business
Louvre Abu Dhabi, NYUAD sign collaboration agreement in key areas
Abu Dhabi, UAE -- Louvre Abu Dhabi and New York University Abu Dhabi (NYUAD) signed an MoU to collaborate in areas...
Business
UAE stocks post gain of US$2.72bn in market cap
The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments...
Economy
Future Investment Initiative Institute to hold events in Riyadh, New York
Riyadh, Saudi Arabia-- The Future Investment Initiative Institute said Thursday two of its major events will be held in September...
Geostrategy
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Business
Riyad Bank to offer sukuk
The bank offering will be denominated in Saudi riyals.
- Investors, according to the bank, shall subscribe to a minimum of $66,533, with a return rate yet to be determined
- Riyad Capital will act as the sole lead manager and book runner for the potential Tier 1 capital sukuk offer
Business
UN says Iran can make a nuclear bomb in three weeks
The UN atomic watchdog has warned Iran has enough enriched uranium to make a bomb in three weeks and that...
- The IAEA has been demanding answers from Iran on the presence of nuclear material at three undeclared sites
- The latest reports come as talks to revive the 2015 nuclear deal to curb Iran’s nuclear program remain stalled
Business
UAE to deepen collaboration with India in education sector
The UAE has agreed to deepen collaboration with India in the field of education, and in this regard the two...
- An original MoU was signed in 2015 between India and the UAE in the field of education, but it expired in 2018
- It is expected to rejuvenate educational cooperation and increase academic mobility between India and UAE, besides facilitating exchange of information