After Instagram restrictions, Meta to introduce teen accounts for Facebook
Paris, France -- Meta on Tuesday announced that it was extending its teen accounts to its social network Facebook, after...
Geostrategy
Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn
Abu Dhabi, UAE -- Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...
Business
Economy
Jordan minister opens Grotto of the Nativity in Dead Sea
The Grotto of the Nativity, the largest in Jordan, is a model that represents the birth of Jesus Christ, the...
- The Grotto of the Nativity, the largest in Jordan, is a model that represents the birth of Jesus Christ, the son of Mary
- Setting up the Grotto of the Nativity as Christmas is approaching is to create religious tourism diversity in the Dead Sea area, Al-Fayez said
Economy
SASO, Chinese SAC renew technical cooperation program
The program aims to strengthen the strategic partnership between the two countries and contribute to ensuring the quality and safety...
- The program aims to strengthen the strategic partnership between the two countries and contribute to ensuring the quality and safety of goods
- It also aims to establish frameworks for joint cooperation in several areas, most notably the exchange of information and research studies
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.
Market Report
Equities boosted by China news before rate calls
Global stocks rose on China's slowing inflation and economic reopening, alongside hopes of less aggressive interest rate hikes next week....
- Traders were setting their sights also on the release of two key US inflation reports ahead of the Federal Reserve's final policy meeting of the year.
- Investors were meanwhile hopeful that central banks in the United States, eurozone and UK will next week ease the pace of interest rate hikes.
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.
Business
AirAsia branch in Cambodia soon
Venture would start with two aircraft and expand to 15.
- The latest move to reorganize the Malaysia-based firm's network comes after setbacks in recent years.
- The firm's future airlines would also be based in Southeast Asia as it was a familiar region.
Business
Britain fines Santander US$132m
Firm fined due to gaps in anti-money laundering controls.
- The Financial Conduct Authority said that it had concluded Santander UK failed to properly manage its anti-money laundering systems between December 2012 and October 2017.
- Santander UK had taken action to address the issues once they were identified.
After Instagram restrictions, Meta to introduce teen accounts for Facebook
Paris, France -- Meta on Tuesday announced that it was extending its teen accounts to its social network Facebook, after...
Geostrategy
Company News
Latest News
TotalEnergies Q3 profit up 1.5%
Business
PIF, Pirelli establish a JV Â
Business
Sony PlayStation 5 sales cross 50 million units
Since releasing the first PlayStation in 1994, Sony has grown into a titan of console gaming, a market whose revenues...
X users report global outage: monitoring site
With no way to post on X, social media users published updates about the outage on rivals including Facebook, Threads,...
Warner Brothers Discovery explores merger
Warner Brothers Discovery brands include CNN and HBO.
Business
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Business
ADIB, Aldar close $272m financing deal
Aldar's total ESG financing facilities reach $1.30 billion.
- Aldar intends to utilize the proceeds to finance sustainable projects such as green buildings, property upgrades to enhance energy efficiency.
- The company also intends to use the proceeds to finance sustainable water management, pollution control measures and renewable energy sources.
Business
ADNOC signs LNG delivery agreement
The 15-year agreement was inked wit ENN LNG (Singapore).
- The LNG will primarily be sourced from ADNOC’s low-carbon Ruwais LNG project, currently being developed in Al Ruwais Industrial City, Abu Dhabi.
- The Ruwais LNG project is set to be the first LNG export facility in the Middle East and North Africa (MENA) region to run on clean power.
Business
Saudi fund assets dip slightly in Q3 but subscribers surge
Riyadh, Saudi Arabia -- The total value of assets held by public and private investment funds in Saudi Arabia decreased...
- Public funds focus on local money markets, while private funds favor equity and real estate.
- The value of assets held by equity and real estate funds made up 84 percent of the private funds’ total assets.