GCC asset management reaches $2.7 trillion as retail growth outpaces institutions
Boston Consulting Group says regional asset managers must strengthen distribution capabilities and technology adoption as industry competition intensifies globally.
Business
Summer Davos: WEF urges scaling innovation into growth and jobs
Dubai, UAE -- Global political and business leaders called for faster adoption of emerging technologies and closer international cooperation to...
Geostrategy
Geostrategy
ATP and Saudi Arabia’s PIF launch new tennis tech platform
NEW YORK and RIYADH — The ATP Tour, in a landmark partnership with the Public Investment Fund (PIF), has unveiled...
- Next-generation analytics platform set to revolutionize player performance and level the playing field across all levels of the sport.
- Groundbreaking partnership with PIF accelerates the development and scale of ATP Tennis IQ, ushering in a new era of data-driven excellence.
Geostrategy
United Nations declares famine in Gaza, first ever in Middle East
Tom Fletcher, the UN's emergency relief coordinator, blamed Israel, accusing it of "systematic obstruction" of aid deliveries to the war-ravaged...
- The assessment of famine was made by the Integrated Food Security Phase Classification Initiative (IPC), a coalition of monitors tasked by the UN to warn of impending crises.
- It defines famine as occurring when 20 percent of households have an extreme lack of food; 30 percent of children under five are acutely malnourished.
Geostrategy
21 countries sign joint statement condemning Israel’s West Bank settlement project
Israel has approved the plans for the roughly 12-square-kilometre parcel of land known as E1 just east of Jerusalem, which...
- "We condemn this decision and call for its immediate reversal in the strongest terms," said the statement of foreign ministers.
- All of Israel's settlements in the West Bank, occupied since 1967, are considered illegal under international law.
Geostrategy
US senators push for improved press access in Gaza
Washington, United States - A group of 17 US Senators sent a letter to Secretary of State Marco Rubio on Wednesday...
- The letter to Rubio, a staunch supporter of Israel, said: "We urge you to press the Israeli government to protect journalists in Gaza and allow global media to the territory."
- Last week, an Israeli strike killed four journalists for Al Jazeera, including Qatari television correspondent Anas al-Sharif, as well as two freelance journalists
Geostrategy
Trump raises pressure on central bank, calls for Fed governor to resign
Washington, United States -- President Donald Trump ramped up pressure on the US central bank Wednesday, calling for Federal Reserve...
- The Trump administration has pursued allegations of mortgage fraud against high-profile Democrats who are seen as political adversaries of the president.
- It was not immediately clear if such a probe will take place targeting Cook, the first Black woman to serve on the central bank's board.
Geostrategy
Antarctic climate shifts threaten ‘catastrophic’ impacts globally
Paris, France -- Abrupt and potentially irreversible changes in Antarctica driven by climate change could lift global oceans by meters...
- After increasing slightly during the first 35 years that satellite data was available, Antarctic sea ice cover plunged dramatically over the last decade.
- Since 2014, sea ice has retreated on average 120 kilometers (75 miles) from the continent's shoreline.
Geostrategy
Israel approves major West Bank settlement project, sparks international outcry
Israel has long had ambitions to build on the roughly 12-square-kilometre parcel known as E1 just east of Jerusalem, but...
- Critics say the settlement would effectively cut the West Bank in two, undermining hopes for a contiguous Palestinian state with east Jerusalem as its capital.
- UN chief Antonio Guterres warned last week that constructing Israeli homes in the E1 area would "put an end to" hopes for a two-state solution to the Israeli-Palestinian conflict.
Geostrategy
Syrian, Israeli diplomats met in Paris to discuss ‘de-escalation’: report
Syria's foreign minister met with an Israeli diplomatic delegation in Paris on Tuesday to discuss "de-escalation and non-interference in Syria’s...
- Washington has been at work in recent weeks to try to resolve security issues in Syria and Lebanon, which its ally Israel says have prompted it to take military action
- Despite a truce reached last November, Israel has continued to hit targets of the Iranian-backed Hezbollah group in Lebanon, and it has occupied territory and hit targets in Syriay
Geostrategy
Indian PM Modi to visit China, security chief says
Indian Prime Minister Narendra Modi will visit China later in August, his security chief said on Tuesday during talks with...
- Modi will attend the Shanghai Cooperation Organization (SCO) summit opening on August 31 in Tianjin, his first visit to China since 2018, Ajit Doval said in public comments
- "History and reality prove once again that a healthy and stable China-India relationship serves the fundamental and long-term interests of both of our countries," Wang added
Geostrategy
Netanyahu slams Macron for fuelling ‘antisemitic fire’ by move to recognise Palestinian state
Israeli Prime Minister Benjamin Netanyahu upbraided President Emmanuel Macron in a letter seen by AFP on Tuesday, blaming the French...
- Late last month, Macron said France would formally recognise a Palestinian state during a UN meeting in September, drawing a swift rebuke from Israel
- By announcing the move, France was set to join a growing list of nations to have recognised statehood for the Palestinians since the start of the Gaza war nearly two years ago
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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
GCC asset management reaches $2.7 trillion as retail growth outpaces institutions
Boston Consulting Group says regional asset managers must strengthen distribution capabilities and technology adoption as industry competition intensifies globally.
Business
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Saudi Arabia, Qatar, six others accept Trump ‘Board of Peace’ invite: statement
Saudi Arabia and seven Muslim-majority countries including Gaza mediators Qatar and Turkey have agreed to join US President Donald Trump's "Board...
Geostrategy
European leaders vow ‘unflinching’ response to Trump’s plans to annex Greenland
The US president, who will address the annual gathering of global elites on Wednesday, has put the transatlantic alliance to...
Geostrategy
Putin invited to Trump’s ‘Board of Peace’ aimed at resolving conflicts globally: Kremlin
Russian President Vladimir Putin has been invited to join US President Donald Trump's "Board of Peace" aimed at resolving conflicts...
Geostrategy
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Geostrategy
Putin speaks to Israel, Iran leaders to help ‘de-escalate’ the situation: Kremlin
Russian President Vladimir Putin on Friday held calls with the leaders of Israel and Iran, the Kremlin said, offering mediation amid...
- On Friday, Russia announced Putin was in contact with both Israeli PM Netanyahu and Iranian President Masoud Pezeshkian
- In his call with Pezeshkian, Putin pledged to further strengthen their countries' "strategic partnership", the Kremlin said
Geostrategy
Saudi, Qatar, Oman convinced Trump to ‘give Iran a chance’: senior Saudi official
Two diplomatic sources told AFP on Thursday that the security posture at Qatar's Al-Udeid Airbase had been lowered after a...
- The Gulf trio "led a long, frantic, diplomatic last-minute effort to convince President Trump to give Iran a chance to show good intention", the Saudi official said
- The United States has repeatedly warned it could intervene against Iranian government crackdown on protests, while Tehran has said it would retaliate with strikes
Geostrategy
Iran vows fast trials over protests after Trump threatened “very strong action”
Iran on Wednesday vowed fast-track trials for people arrested over a massive wave of protests, after US President Donald Trump...
- Trump on Tuesday said in a CBS News interview that the United States would act if Iran began hanging protesters.
- Iranian prosecutors have said authorities would press capital charges of "waging war against God" on some detainees.