Dubai welcomes record 9.31 million visitors in first half of 2024
Dubai, UAE - Dubai has reinforced its position as a global tourism leader by welcoming a record 9.31 million international...
Economy
Asian markets drop as Biden drops out of White House race
Asian markets fell Monday as Joe Biden's decision to drop out of the US presidential race fuelled fresh uncertainty, while...
Economy
Geostrategy
Israeli spy chief to meet US officials on Iran deal
Prime Minister Yair Lapid said that Israel's "diplomatic fight" against the deal included its national security advisor and defense minister...
- Israel says a deal would facilitate the funding of Iran-supported militants, while not preventing Tehran from developing a nuclear weapon
- In 2018, then-US president Donald Trump unilaterally withdrew from the agreement designed to prevent Iran from developing a nuclear weapon
Geostrategy
Tokyo to push for African seat on UN Security Council, says Japan PM
Japan will use its place on the United Nations Security Council to push for an African seat on the top...
- Japan was among five countries elected in June to hold a non-permanent seat on the UN Security Council for 2023 and 2024
- Japanese PM also promised aid to train police officers and support "fair and transparent" elections across the continent
Economy
Obstacles hit Germany’s efforts to restart coal plants
A year after the last wisps of smoke disappeared into the skies from the imposing chimneys of the Moorburg coal...
- Russia's curtailing of gas exports to Germany in the wake of the Ukraine war has forced Berlin to make the radical decision to restart coal power stations, at least temporarily.
- Germany began winding down its coal-fired power plants in the last few years, in view of meeting a target to end usage of the fossil fuel by 2030.
Economy
Egypt curtails domestic use of energy to boost forex
An economic crisis spurred by the Ukraine war is casting darkness upon Egypt's streets, as the government dims lights to...
- Egypt, the world's biggest wheat importer, relied on the ex-Soviet states for over 80 percent of its grain.
- Inflation hit a three-year high of 14.6 percent in July after Egypt devalued the pound
Geostrategy
Macron winds up Algeria visit with ‘irreversible dynamic’ of progress
French President Emmanuel Macron and his Algerian counterpart Abdelmadjid Tebboune Saturday declared a "new, irreversible dynamic of progress" in their...
- The three-day visit comes less than two months after Algeria marked six decades of independence following 132 years of French rule
- It comes as European powers scramble to replace Russian energy imports - including with supplies from Algeria, Africa's top gas exporter
Geostrategy
Putin allows Ukrainians to live, work in Russia ‘indefinitely’
The new measure allow Ukrainian citizens and people from Ukraine's separatist eastern regions that Russia recognizes as independent to work...
- Up until now, Ukrainians could only stay in Russia for a maximum of 90 days within a 180-day period
- 3.6 million Ukrainians, including 587,000 children, had entered Russia since the start of the offensive.
Geostrategy
Japan vows billions at Africa investment conference
Japanese Prime Minister Fumio Kishida Saturday pledged $30 billion over three years for Africa in a virtual address to a...
- Japanese Prime Minister Fumio Kishida Saturday pledged $30 billion over three years for Africa in a virtual address to a development conference in Tunis.
- Host country Tunisia is among the countries bearing the brunt of global supply chain disruptions and price spikes since it is heavily import dependent.
Business
Saudi Arabia, Malaysia discuss food security
Saudi Arabia and Malaysia discussed cooperation in food security and the promotion of the private sector to benefit from investment...
- Minister of Environment, Water and Agriculture Eng. Abdulrahman bin Abdulmohsen Al-Fadhli represented Saudi in meeting
- Al-Fadhli met with Malaysia’s Minister of Agriculture and Food Industries Ronald Kiandee in Riyadh to discuss cooperation
Geostrategy
Tunisia recalls Morocco envoy in W. Sahara row
Tunisia said Saturday it would recall its ambassador from Morocco for consultations, a day after the kingdom did the same...
- Tunisian President Kais Saied had on Friday hosted Polisario chief Brahim Ghali who arrived to attend the Japanese-African investment conference TICAD.
- In response to what it called a hostile and "unnecessarily provocative" act, Morocco withdrew its Tunis ambassador for consultations and cancelled its own participation.
Geostrategy
UN session on high seas biodiversity ends without pact
United Nations member states ended two weeks of negotiations without a treaty to protect biodiversity in the high seas, an...
- Many had hoped the session would be the last and yield a final text on "the conservation and sustainable use of marine biodiversity beyond national jurisdiction.
- It will now be up to the UN General Assembly to resume the fifth session at a date still to be determined.
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
Dubai welcomes record 9.31 million visitors in first half of 2024
Dubai, UAE - Dubai has reinforced its position as a global tourism leader by welcoming a record 9.31 million international...
Economy
Company News
Latest News
Saudi Arabia projects 2024 budget deficit at 1.9% of GDP
The kingdom's finance ministry estimated expenditures for 2024 to be at US$333.5 billion. According to the ministry, the projection is...
Economy
Social aspects of ESG put some firms in a tight spot
While companies are increasing their investments in social initiatives, many grapple with effective execution and evaluation, highlights a new study...
Economy
China rejects US disinformation accusations, calls Washington ’empire of lies’
Beijing, China - China on Saturday accused the United States of being an "empire of lies", hitting back after a State...
Geostrategy
Most Read
Economy
ADB capital reforms unlock $100bn to support Asia and the Pacific region
MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...
- The expansion of available funds will be further leveraged by mobilizing private and domestic capital required to tackle the climate crisis.
- The reforms also create a Countercyclical Lending Buffer to support ADB developing member countries facing unexpected crises.
Geostrategy
IMF approves $1.3bn for Morocco to help transition to a greener economy
WASHINGTON, US - The International Monetary Fund (IMF) Executive Board approved a Resilience and Sustainability Facility (RSF) for Morocco of...
- The arrangement will help Morocco strengthen its preparedness and resilience against natural disasters, including from climate change.
- The 18-months arrangement, "Will help Morocco address climate vulnerabilities, bolster its resilience against climate change,” the IMF said.
Geostrategy
The many ways US government shutdown affects people
WASHINGTON, US - The United States is heading toward a government shutdown this weekend with no foreseeable way out of a...
- Sharp disagreements in the Republican Party has prevented passage of the bills needed to keep the government funded and open.
- The credit ratings agency Moody's warned this week that a shutdown would be "credit negative" for US sovereign debt.