Geostrategy

Air Arabia profit falls

Revenue rises despite regional cost pressures

FAB plans $4.08bn rights issue

UAE’s largest bank seeks capital for growth.

flydubai launches new flights

Riga, Salzburg, Vilnius flights begin from Dec

ADNOC Gas Q3 profit $1.34bn

Stronger earnings support higher full-year outlook

Agthia 9M profit nearly triples

Third-quarter revenue increased 14.4 percent.

European Union pledges $600 million for Syrians fleeing war

Last year's donors' conference in Brussels for displaced Syrians raised pledges of $6.7 billion, and the one before that $6.4...
  • Since 2011, more than 500,000 people have been killed in Syria after Bashar al-Assad's crackdown on peaceful protesters pushed country into civil war.
  • The UN says more than 12 million Syrians were displaced by the conflict, most of them inside Syria, and with 5.4 million living as refugees in neighboring countries.

Iranian president boosts Nicaragua ties on tour of US-sanctioned countries

In Venezuela, Raisi and Venezuelan leader Nicolas Maduro announced that they signed 25 accords, across sectors ranging from education and...
  • The Iranian leader, whose country is also sanctioned by the United States, kicked off his trip in Venezuela earlier this week before flying to Nicaragua
  • Raisi added that Iran and the Central American country "share a common history of struggle, of resistance, of revolutions, of combat against a common enemy"

‘Voiceless’, destitute: Lebanon’s Syrian refugees lose hope for return

Lebanese authorities say the country hosts around two million Syrians, while more than 800,000 are registered with the UN --...
  • Aid groups warned that support for Syrians at home and abroad has dwindled, as the international community meets in Brussels this week for a pledging conference
  • Amid a crushing economic crisis that has pushed most of Lebanon into poverty, anti-Syrian sentiment has soared, the government has called for refugees to leave

Saudi foreign minister to visit Iran on Saturday

Riyadh, Saudi Arabia -  Saudi Arabia's Foreign Minister, Prince Faisal bin Farhan Al-Saud, is scheduled to visit Tehran on Saturday,...
  • This visit follows the agreement reached in March, facilitated by China, which aimed to end the prolonged hostility between the two countries
  • Earlier in June, the foreign ministers of the two countries met in South Africa to discuss plans for the full restoration of relations

Xi calls for a Palestinian state to become a ‘full member’ of UN in meeting with Abbas

Beijing has sought to boost its ties in the Middle East, challenging US influence -- efforts that have sparked unease...
  • Beijing has positioned itself as a mediator in the Middle East, brokering the restoration in March of ties between Iran and Saudi Arabia
  • Xi told Abbas at a welcome ceremony at the Great Hall of the People that China was "ready to strengthen coordination and cooperation with the Palestinian side."

Saudi embrace of China signals shift in Middle East geopolitics

China's approach, characterized by a combination of economic incentives and a focus on development, contrasts with the more assertive and...
  • The diminishing US presence in the Middle East has compelled Gulf countries to seek new alliances, and China has positioned itself as a prominent alternative
  • China's approach, characterized by a combination of economic incentives and a focus on development, contrasts with the more assertive and unilateral approach of the US

Arab nations account for 25 percent of Israel’s 2022 arms exports

Jerusalem, Undefined - Israeli defense exports hit an all-time high of $12.5 billion last year, with Arab countries that recently established...
  • One quarter of deals were for drone systems, with "missiles, rockets and air defense systems" making up another 19 percent.
  • The US-brokered Abraham Accords from 2020 saw Israel normalize ties with the United Arab Emirates, Bahrain and Morocco.

GCC banking’s tech shift saves time, money

GCC banks started adopting online and mobile banking, and ATMs, in the 1990s and 2000s. More recently, they've integrated advanced...
  • As of 2019, there were over 5,000 bank branches in the GCC region, catering to a population exceeding 50 million.
  • On average, customers spent about 30 minutes in these branches to avail themselves of banking services.

Lebanon lawmakers fail to elect president at 12th attempt

The vote for the presidency, reserved for a Maronite Christian under Lebanon's delicate sectarian power-sharing system, pitted the Hezbollah-backed Sleiman...
  • Lebanon is facing a double power vacuum, with the country governed by a caretaker cabinet with limited powers for more than a year.
  • France and the US have renewed calls for Lebanese lawmakers to cooperate and elect a new president.

Saudi Crown Prince set to meet Macron in France

Mohammed bin Salman has left for a state visit to France where he will meet President Emmanuel Macron, a statement...
  • Saudi Crown Prince will take part in the Summit for a New Global Financial Pact in Paris next week, the Royal Court statement said
  • In December 2021, Macron became one of the first Western leaders to meet Mohammed bin Salman in Saudi Arabia since 2018

Trump says to meet Putin in Budapest after ‘great’ call, questions Ukraine’s push for Tomahawk missiles

In his latest abrupt pivot on Russia's 2022 invasion, Trump said he expected to meet Putin in Budapest within the...

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Netanyahu commits to Trump’s Gaza plan as Rubio seeks Arab backing in Saudi talks

In a statement on Monday, Israeli Prime Minister Benjamin Netanyahu said he was "committed to US President Trump's plan for...

Saudi Arabia’s sports fund invests in DAZN streaming service

Paris, France - Saudi Arabian sports investment fund SURJ, linked to the kingdom's sovereign wealth fund, has acquired a minority stake...

War-weary Gazans reel from ‘500 days of humiliation’

Gaza City, Palestinian Territories -- For 500 days since an unprecedented Hamas attack on Israel triggered the Gaza Strip's deadliest war,...

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Sisi discusses Middle East peace with World Jewish Congress chief

Cairo, Egypt -- Egyptian President Abdel Fattah al-Sisi told the head of the World Jewish Congress Ronald Lauder on Sunday that...
  • During his meeting with Lauder in Cairo on Sunday, Sisi called for starting the reconstruction of war-battered Gaza "without displacing its residents from their land".
  • "The establishment of a Palestinian state... is the only guarantee to achieve lasting peace," Sisi told Lauder on Sunday.

BRICS summit planned for July in Rio, says current chair Brazil

Rio de Janeiro, Brazil - Leaders of the countries known as BRICS will hold a summit in Rio de Janeiro in...
  • Brazilian Foreign Minister Mauro Vieira said that the summit will be held July 6-7 and feature leaders of 20 countries with full or associate status in the bloc
  • The BRICS group has expanded significantly since its inception in 2009, and now includes countries such as Iran, Egypt and the United Arab Emirates

Lavrov, Rubio pledge to restore dialogue and work on settling Ukraine conflict, says Moscow

The call came ahead of an expected summit between Donald Trump and Vladimir Putin amid mounting concern from Ukraine and...
  • The call came days after the US president's call to Putin ended almost three years of no contact between Moscow and Washington during the Ukraine conflict
  • According to Moscow, Lavrov and Rubio pledged to "maintain a channel of communication to resolve the accumulated problems in US-Russian relations".