UK’s Labor Party wins enough seats to form majority government
The Labor Party has officially won enough seats in the UK’s 2024 general election to have a majority in parliament,...
Economy
Exhibition of art and poetry in Dubai celebrates women
Featuring the work of international women artists, "La Belleza" celebrates the deep connection between art and poetry.
Arts & Culture
Business
Dubai records weeklong real estate transactions worth $2.48 billion
Dubai, UAE --Dubai recorded a total of 3,186 real estate transactions worth over AED 9.1 billion ($2.48bn) during the week...
- The DLD report said that 419 plots were sold for AED 2.24 billion, while 2,233 apartments and villas were purchased for AED 4.64 billion.
- The top three transfers for apartments and villas were apartments for AED 54 million, AED 50 million and AED 37 million.
Economy
Tourists, cruises, flights to Aqaba on the rise in December
AQABA, JORDAN - The southern city of Aqaba is welcoming an increasing number of local visitors and foreign tourists of...
- The ports of Aqaba are expected to receive eight giant cruise ships carrying about 2,700 tourists each.
- King Hussein International Airport in Aqaba has received 18 flights from abroad in since the beginning of December.
Economy
UAE tax decree: Profits above $102,099 to be taxed at 9 percent
Abu Dhabi, UAE---The UAE has issued a decree on the Taxation of Corporations and Businesses, the Corporate Tax Law, under...
- Profits up to and including the $102,099 threshold will not be taxed "to support small businesses and start-ups".
- Free zone entities will be eligible to benefit from the zero percent Corporate Tax rate on qualifying income.
Geostrategy
IFC, UNHCR to jointly boost private sector engagement for refugees, host communities
GENEVA, SWITZERLAND - The International Finance Corporation (IFC) and UNHCR, the UN Refugee Agency, Friday announced a joint initiative to...
- The initiative aims to mobilize private sector projects over the next five years to demonstrate the viability of investments in forced displacement contexts.
- Forced displacement is a growing crisis that is too large and complex for governments and humanitarian agencies to solve alone.
Business
Aramco, Shandong Energy to collaborate on downstream projects in China
Dhahran, Saudi Arabia---Saudi Aramco and China's Shandong Energy Group are exploring collaboration on integrated refining and petrochemical opportunities in China....
- The companies have signed a Memorandum of Understanding (MoU), which includes a potential crude oil supply agreement and chemicals products offtake agreement.
- The scope of the MoU extends to cooperation across technologies related to hydrogen, renewables and carbon capture and storage.
Economy
Japan provides $110m soft loan to support Jordan’s energy sector
The loan is part of Japanese government's pledges to the Jordanian government at the 2019 London Conference.
- The loan is part of Japanese government's pledges to the Jordanian government at the 2019 London Conference
- Japanese ambassador Okuyama said that the loan would support the Jordanian government's comprehensive reform efforts
Business
e& partners with Bespin Global to offer cloud managed services in METAP region
The Joint Venture will be 65 percent owned by e& enterprise and 35 percent by Bespin Global.
- The JV will be 65 percent owned by e& enterprise and 35 percent by Bespin Global
- e& enterprise will be making a primary investment of $60 million in Bespin Global
Economy
UAE leads Arab world in IMD World Talent Ranking 2022
The country was ranked among the top ten in nearly 30 percent of the report’s indexes.
- The country was ranked among the top ten in nearly 30 percent of the report’s indexes
- World Talent Report is published annually by the Institute for Management Development in Lausanne, Switzerland since 2013
Geostrategy
Saudi Arabia, UAE mediation efforts aid the US-Russia prisoner swap
The mediation efforts were led by the Emirati president Sheikh Mohammed bin Zayed bin Sultan Al Nahyan and the Crown...
- The mediation efforts were led by the UAE president Sheikh Mohammed bin Zayed bin Sultan Al Nahyan and Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud
- Brittney Griner, a top basketball player for the United States, was released in exchange for Russian arms dealer Victor Bout
Geostrategy
Six years later, Saudi King Salman and China’s Xi sign comprehensive strategic partnership agreement
Beijing is ready to expand its crude oil trade with Riyadh and will "list Saudi Arabia as a destination country...
- Beijing is ready to expand its crude oil trade with Riyadh and will "list Saudi Arabia as a destination country for outbound tourism organized by Chinese citizens, says Xi Jinping
- Xi and Saudi Crown Prince witness signing of energy agreements on hydrogen as well as a plan to "harmonize" Vision 2030, with China's trillion-dollar Belt and Road Initiative
UK’s Labor Party wins enough seats to form majority government
The Labor Party has officially won enough seats in the UK’s 2024 general election to have a majority in parliament,...
Economy
Company News
Latest News
Human Rights Monitor submits documents on Gaza executions to UN
GENEVA, SWITZERLAND - The Euro-Mediterranean Human Rights Monitor documented, in a preliminary file submitted to UN special rapporteurs and the...
Geostrategy
Makkah, Morocco’s Beni Mellal-Khenifra Chambers of Commerce ink pact
MAKKAH, SAUDI ARABIA - The Makkah Chamber of Commerce and Industry and the Chamber of Commerce, Industry, and Services of...
Business
UN General Assembly approves US$3.59bn budget for 2024
NEW YORK, US - The United Nations General Assembly (UNGA) approved a US$3.59 billion budget for 2024, including establishing a...
Geostrategy
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Geostrategy
FTA issues guide to determine natural persons subject to corporate tax
ABU DHABI, UAE - The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural...
- The guide provides a comprehensive and simplified explanation and instructions for natural persons earning in the UAE.
- The FTA emphasized the importance of understanding the comprehensive content and definitions outlined in the guide.
Geostrategy
136 UN employees killed in Gaza War, says UN chief
NEW YORK, US - UN Secretary-General Antonio Guterres said on Sunday that 136 United Nations employees in Gaza Strip had...
- The UN chief said that the Israeli military offensive was creating 'massive obstacles' to the distribution of humanitarian aid inside Gaza.
- The United Nations Security Council had adopted a resolution calling for boosting humanitarian assistance for Gaza Strip.
Business
Oman to expand production of green hydrogen to boost non-oil economy
Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...
- The government aims to raise renewable energy-based hydrogen production to at least one million metric tonnes (mt)/year by 2030.
- Local state-owned enterprise Hydrogen Oman (Hydrom) signed six investment agreements, worth over US$38 billion, with partners in 2023.