Oil prices soar 4 percent but US inflation fears ease
U.S. crude oil prices rose over 4% on Monday, surpassing $80 per barrel, as the Pentagon deployed additional forces to...
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
Economy
Dubai retains spot as world’s top tourism FDI destination in 2021
Dubai has retained its top rank worldwide for attracting foreign direct investment (FDI) into tourism in 2021. With AED6.4 billion...
- With $1.74 bn in FDI across 30 FDI projects during the year, Dubai ranked number one in FDI capital, projects, and job creation in the tourism sector.
- Dubai welcomed 7.28 million international overnight visitors in 2021, representing a 32 percent year-over-year growth.
Geostrategy
Iraqi PM calls for joint efforts to tackle issues facing region
Iraqi Prime Minister Mustafa Al-Kadhimi said the Middle East has been affected by climate change, water crisis, dangers of desertification,...
- The Middle East has been affected by climate change, water crisis, dangers of desertification and COVID-19 pandemic.
- Iraqi Prime Minister Mustafa Al-Kadhimi has called for joint efforts to confront the issues facing the region
Geostrategy
Jeddah Summit enhances ties with US, GCC countries: Saudi minister
Saudi Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih said that the Saudi-US and GCC-US summits, in the presence of...
- Jeddah Summit strengthens solid relations and strategic partnership between the US and GCC countries
- Economic relations between the US and the Kingdom are nearly 90 years old, says Saudi minister
Geostrategy
EU to discuss imposing harsher sanctions against Russia
The European Union will discuss tightening sanctions against Russia on Monday, as Moscow is accused of using the continent's largest...
- Brussels is expected to hold initial sanctions discussions Monday as Moscow is accused of using the continent's largest nuclear power plant
- With the conflict grinding on and increasingly spilling out into global energy and food crises, the EU's foreign ministers are considering banning gold purchases from Russia
Economy
Iraq launches drive to preserve national icon: date palms
Thousands of young date palms, Iraq's national symbol, form lines that extend from the edge of the desert near the...
- Iraq's prized trees are central to a push aimed to preserve a long-threatened ancestral culture
- The number of palm trees in the area has fallen from six million, before the Iraq-Iran war, to less than three million today
Geostrategy
Chad rebels pull out of peace talks with military government
A host of Chadian rebel and political groups on Saturday withdrew from talks with the African nation's military government, accusing...
- A national peace dialogue intended to pave the way for elections would start on August 20,
- Chad is one of the world's poorest nations and the government said the talks were intended to end decades of unrest
Economy
Euro faces many hurdles on way to recovery against dollar
The euro's plunge against the dollar, triggered by the Ukraine war and mounting risks to the EU economy, has driven...
- French President Emmanuel Macron even said on Thursday that Russia was using energy "as a weapon of war"
- Like other central banks, the European Central Bank (ECB) is seeking to avoid stifling the economy by raising rates too sharply
Geostrategy
UAE delegation highlights good governance initiative
The UAE delegation to the 2022 High-Level Political Forum on Sustainable Development (HLPF) at the United Nations (UN) Headquarters in...
- The UAE delegation concludes successful visit to the 2022 High-Level Political Forum on Sustainable Development
- The delegation presents the second edition of the UAE’s National Voluntary Review Report at the UN Headquarters
Geostrategy
‘Unrealistic policies to curb emissions could fuel inflation’
Saudi Crown Prince Mohammed bin Salman warned that unrealistic policies to curb emissions could fuel inflation, as he chaired a...
- Saudi Crown Prince Mohammed bin Salman said unrealistic policies to curb emissions could fuel inflation
- Last year, Saudi Arabia pledged ahead of the COP26 climate change summit to achieve net zero carbon emissions by 2060
Geostrategy
Biden invites United Arab Emirates president to US
US President Joe Biden on Saturday invited his UAE counterpart, Sheikh Mohamed bin Zayed Al-Nahyan, to visit the United States...
- US President Joe Biden invites his UAE counterpart, Sheikh Mohamed bin Zayed Al-Nahyan, to visit the United States
- The US President said he wanted the United Arab Emirates President to visit the United States this year
Oil prices soar 4 percent but US inflation fears ease
U.S. crude oil prices rose over 4% on Monday, surpassing $80 per barrel, as the Pentagon deployed additional forces to...
Company News
Latest News
Yahsat to invest US$100m
Business
Stocks fall after Federal Reserve says it may hike interest rates
Global stocks sank after the US Federal Reserve hinted it could hike interest rates again this year to tame inflation...
Market Report
RAKEZ team wraps up roadshow to boost trade in China’s Guangdong province
RAS AL KHAIMAH, UAE - A delegation from Ras Al Khaimah Economic Zone (RAKEZ), led by Group CEO Ramy Jallad,...
Geostrategy
Syria’s Bashar Al-Assad visits China seeking funds
China becomes one of only a handful of countries outside the Middle East that Assad has visited since the 2011...
Most Read
Turkey expected to hike interest rate to 20-year high
The mercurial Turkish leader performed one of his trademark policy reversals after winning a difficult re-election in May. The vote...
- Erdogan called high rates "the mother and father of all evil" and spent years pushing the central bank to lower borrowing costs to speed up economic growth
- Inflation rate approached 60 percent in August and is climbing much faster than projected by Erdogan's new economic team of former Wall Street executives
Business
Sharjah Chamber to host two-day Gulf-Iraq Business event
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) said it is likely to host the first Gulf-Iraq...
- The theme of the event is “Partnership for a Promising Economic Future”, and is expected to present multiple investment opportunities.
- The Chamber hopes the event starts new wave of economic, trade, and industrial relations between the GCC countries and Iraq.
Geostrategy
Belt and Road Initiative countries expect more cooperation ahead of China-Arab expo
YINCHUAN, CHINA - In the run-up to the sixth China-Arab States Expo, guests from countries and regions along the Belt...
- Morocco was the first country in North Africa to sign the Belt and Road cooperation document with China.
- Since then, the two countries have maintained close political, economic, and cultural connections.