Hospitality leaders to gather in Dubai for Commercial Strategy Conference
Dubai, UAE -- The region's top hospitality professionals will converge at the Conrad Dubai Hotel on November 25-26, 2025, for...
Business
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
Business
‘Investment in sports a key part of global economy’
“Sports economies involve infrastructure, new talents, air traffic, travel, and other components,” Al Marri adds, noting that there are many...
- Investment in sports is a key part of the global economy, being one of the main pillars of the new economy, says UAE’s Minister of Economy Abdullah bin Touq Al Marri
- Sports economies involve infrastructure, new talents air traffic, travel, and other components, adds Al Marri, who is also the Chairman of Investopia
Business
Saudi Central Bank licenses debt-based crowdfunding finance firm Manafa
Riyadh, Saudi Arabia---The Saudi Central Bank (SAMA) has licensed Manafa, a finance company specialized in debt-based crowdfunding in the kingdom....
- Manafa is a closed joint-stock company with a capital of SAR 40 million.
- The license was granted to the company after a successful trial run in SAMA's Regulatory Sandbox, an experimental environment dedicated to innovative financial products, services.
Business
Dubai records over $462 million in real estate transactions: DLD
Dubai, UAE--- Dubai real estate market recorded deals worth AED1.7 billion ($462 million) on Thursday, according to Dubai Land Department....
- The deals included 617 sales transactions worth AED1.45 billion, in addition to 85 mortgage deals of AED257.35 million, and 19 gift deals amounting to AED34.64 million.
- The sales included 532 villas and apartments worth AED1.11 billion, and 85 land plots worth AED338.47 million.
Economy
Qatar Central Bank’s foreign reserves surge 6.82 percent in Nov
Doha, Qatar---The foreign currency reserves and liquidity of the Qatar Central Bank (QCB) increased by 6.82 percent to reach QR...
- The figures issued by the QCB show the bank's official reserves increased by the end of November 2022 year-on-year by about QR 13.169 billion to reach QR 166.109 billion.
- The rise has been driven by the increase in the QCB's balances of bonds and foreign treasury bills by about QR 18.896 billion to the level of QR 124.656 billion in November 2022.
Geostrategy
Lebanon parliament fails to elect president for the ninth time
Parliament is split between supporters of the powerful Iran-backed Hezbollah movement and its opponents, neither of whom have a clear...
- Hezbollah opponent Michel Moawad, who is seen as close to the United States, won the support of 39 MPs but fell well short of the required majority.
- Moawad's candidacy is opposed by Hezbollah, whose leader Hassan Nasrallah called last month for a president ready to stand up to Washington.
Geostrategy
WHO member states agree to develop draft of pandemic accord in early 2023
GENEVA, SWITZERLAND - Member states of the World Health Organisation (WHO) Thursday agreed to develop the first draft of a...
- This zero draft of the pandemic accord, rooted in the WHO Constitution, will be discussed by member states in February 2023.
- The agreement by the Intergovernmental Negotiating Body, comprising WHO’s 194 member states, was a milestone in the global process to learn from the COVID-19 pandemic.
Geostrategy
Netanyahu secures parliament majority, closer to forming govt
Some Israeli political analysts had forecast that Netanyahu would move to announce a coalition days after receiving his mandate from...
- In Israel's fifth election in less than four years, held on November 1, Netanyahu's right-wing alliance triumphed with ease
- Although a final coalition agreement has not yet been signed, the agreement with Shas gives Netanyahu control over 64 of the 120 seats in the Knesset
Business
ADEX to provide US$25m funding to Togo to raise solar park capacity
The Abu Dhabi Exports Office (ADEX) has signed an agreement with Togo’s Ministry of Economy and Finance to raise the...
- The Abu Dhabi Exports Office will provide a loan of US$25 million, while the Emirati company EMEA Power will undertake the construction and operation of the new complex
- In 2021, Abu Dhabi Fund for Development financed the first phase of Mohamed bin Zayed Solar Energy Complex at a value of $15 million
Most Read
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
Hospitality leaders to gather in Dubai for Commercial Strategy Conference
Dubai, UAE -- The region's top hospitality professionals will converge at the Conrad Dubai Hotel on November 25-26, 2025, for...
Business
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IsDB, SWCC sign agreement
Business
Construction in China-Saudi Arabia ethylene project begins
FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...
Business
Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...
Business
KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility
ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...
Business
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Business
SCC committee discusses issues related to Sharjah’s economy and tourism
SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...
- The committee addressed the outcomes of its recent visit to Sharjah Commerce and Tourism Development Authority.
- The committee was briefed about the authority’s efforts to stimulate tourism by conducting events throughout the year.
Business
HMG 2023 net profit $544m
The rise was due to the hospitals and pharmacy segments.
- The increase in net profit came as revenues edged up 14.41 percent year-on-year (YoY) to US$2.5 billion (SAR 9.5 billion).
- Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 18.49 percent YoY to US$666 million (SAR 2.5 billion).
Roadmap out for environmental education, sustainable development at WEEC2024
ABU DHABI, UAE - The Abu Dhabi Roadmap, a high-level plan outlining global recommendations to bolster Environmental Education (EE) and...