US allies warn Israel against ‘catastrophic’ Rafah operation
The leaders of Australia, Canada and New Zealand on Thursday warned Israel against a potentially "catastrophic" ground offensive in the...
Strengthen emotional security to thwart cyberattacks
While love, loneliness, and excitement are easily exploitable emotions, any factor impacting someone’s emotional state can make them a target....
Opinion
Business
Lockheed appoints Chief Executive for ME
Lockheed Martin has appointed retired U.S. Army Gen. John W. Nicholson as their new Chief Executive for the Middle East.
- Nicholson led the PenFed Foundation, a non-profit organisation that provides U.S. military service members and veterans with support to improve their financial well-being
- Bob Harward announced his intention to retire from Lockheed Martin at the end of this year after eight years of service
Business
Oman sees hospitality industry revenue fall 3.5%
The National Centre for Statistics and Information says domestic guest have supported the Oman's hotels.
- Domestic guests constituted the highest percentage of visitors in hotel industry of Oman
- The occupancy rate of hotels in Oman rose by 36.3 percent
Economy
Loubnany platform launches next month, will promote Lebanese economy
An online electronic platform named 'loubany', aimed at promoting Lebanon's economy and industry, will be launched in on 15 January...
- The platform spells out its vision as 'Lebanese production, creativity, innovation and competence to reach the four corners of the world'.
- The platform particularly addresses Lebanese Diaspora to support the Lebanese economic initiatives.
Business
Two missing after ships collide south of Sweden
Two people were missing on Monday after two cargo ships collided in waters south of Sweden in the early morning...
- Nine boats as well as a rescue helicopter were searching for the missing sailors in the cold water
- The ships were sailing under British and Danish flags
Business
Saudi Arabia launches regional center for sustainable development of fisheries
The center was announced by Crown Prince Mohammed bin Salman during the Middle East Green Summit held in Riyadh recently.
- Saudi Arabia’s National Program for the Development of the Fisheries Sector has launched a regional center to sustainably develop fisheries
- The program focuses on research in the fisheries sector and aquaculture related to the health of animals and aquatic organisms
Business
EDB, Jetro ink investment deal
The agreement will promote direct investment in various fields.
- This agreement will highlight Bahrain as an investment hub for Japanese companies
- Bahrain recently ranked first for availability of advanced computer programming talent in ICT
Business
Al Tamouh, Al Qudra merger okayed
International Holding Company has formally agreed to the merger.
- The Board of Directors of Al Qudra Holdings has also approved a new foreign ownership limit of 30 percent of outstanding shares
- Previously, only UAE nationals were permitted to own shares in the company
Investigation
REVEALED: Billions of dollars missing from BDL
About US$7 billion is missing from Lebanese central bank’s 2020 balance sheet, data analysis by TRENDS suggests while highlighting weak...
- Some of the data sifted by TRENDS point to a US$7 billion scam involving the country’s central bank and the powerful individuals
- The poor and weak policies of Banque du Liban (BDL) may have facilitated a “Ponzi” scheme involving Eurobonds
Business
Israel weathers criticism to host Miss Universe finale
Women from 80 countries vied for the Miss Universe crown in the Israeli city of Eilat on Sunday, with several...
- The 70th edition of the annual pageant, being held in Israel for the first time, has also faced complications from the coronavirus pandemic
- South Africa's Ministry of Sports, Culture and Arts had urged its contestant to stay away from Eilat, citing "atrocities committed by Israel against Palestinians"
Business
Saudi Port launches transshipment service linking Dammam with many ports
MAWANI also aims to attract a major share of the global transshipment operations to Saudi ports by implementing several projects...
- The service is launched in partnership with Saudi Global Ports Co and the international shipping line Orient Overseas Container Line.
- The Saudi Ports Authority seeks to raise the Kingdom's share in the transshipment market from the present 21 percent to 50 percent by 2030.
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US allies warn Israel against ‘catastrophic’ Rafah operation
The leaders of Australia, Canada and New Zealand on Thursday warned Israel against a potentially "catastrophic" ground offensive in the...
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Jordan exhorts ‘companies, institutions’ to switch to renewable energy
Amman, Jordan--Jordan is urging "companies and institutions" to switch to renewable and sustainable energy to reduce operating costs. In this...
Business
Five skills workers require in real estate
Saudi Arabia’s real estate sector is evolving with new regulations, creating fresh job opportunities. The latest initiatives seek to enhance...
Videos
Bahrain Central Bank’s Sukuk Al Salam oversubscribed 319%
Manama, Bahrain - The Central Bank of Bahrain (CBB) has said its monthly issue of the Sukuk Al-Salam Islamic securities...
Business
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Business
KIB posts $19.5m net profit
The bank's total operating income reached approximately $115 million.
- The bank's total operating income reached approximately $115 million, a 14% increase compared to the first six months of 2022
- Its investment securities portfolio, focused on high-quality Sukuk, reached $1 billion, a 4% increase from the same period last year
Business
DP World boosts global supply chain resilience with major capacity expansion
DUBAI -- DP World expects to add approximately 3 million Twenty-Foot Equivalent Units (TEUs) of new container handling capacity by...
- DP World plans to add approximately 3 million TEUs of new container handling capacity by the end of the year
- The firm currently manages about 9% of the world’s handling capacity, ranking among the top five global port operators
Business
APIC H1 net profit down 39%
Total revenues grew by 7.2% YoY to $590 million.
- Net profits attributed to APIC shareholders in the first half of 2023 reached $11.08 million.
- Total assets increased by 8.74 percent compared to 2022's closing and reached $756 million.