Hamas will not govern post-war Gaza: Hamas source close to negotiating committee
Doha, Qatar -- A Hamas source close to the group's negotiating committee told AFP on Sunday that it will not...
Geostrategy
Expectations high as Trump, Putin set to meet at Alaska: What each side wants
In a draft peace plan published in June, Russia called on Ukraine to withdraw its forces from the Kherson, Lugansk,...
Geostrategy
Economy
UAE Central Bank projects 4.3% GDP growth in 2024
The bank cited the real estate and construction sectors as key drivers, as well as a dynamic manufacturing sector, like...
- As for inflation, the review projects it to decelerate to 3.2 percent in 2023, “on the back of softer price increases in all categories."
- Oil production is expected to moderate in line with the OPEC+ agreements but the non-oil sector is anticipated to continue to grow
Banks face reduced profits as CBDCs gain traction
The emergence of interoperable central bank digital currencies may lower costs and reduce settlement risks, but may hit bank revenues...
- The emergence of interoperable central bank digital currencies may lower costs and reduce settlement risks, but may hit bank revenues from cross-border transactions, warns Moody's
- Although CBDCs promise faster, cheaper, and safer services, they could diminish banks' roles in the new economic landscape, affecting revenues from cross-border payments, it adds
Saudi Arabia’s Women’s National Team enters FIFA World Ranking
The national team, commonly known as the ‘Green Falcons’, are currently led by Finish Head Coach Rosa Lappi-Seppälä, who took...
- Historic moment forms part of the country’s massive investment in the women’s game in recent years
- The Women’s Football Department of the Saudi Arabian Football Federation was established in 2019
Geostrategy
Saudi Arabia crown prince shows new pragmatism with Iran deal
Mohammed bin Salman has also worked to mend rifts with regional rivals like Qatar and Turkey, and even offered up...
- Mohammed bin Salman has also worked to mend rifts with regional rivals like Qatar and Turkey, and offered up the Gulf kingdom as a mediator for the war in Ukraine
- On his watch, the formerly closed-off kingdom sidelined the religious police, allowed women to drive, opened cinemas and started granting tourist visas
Business
Credit Suisse buyout: Saudi National Bank fears no impact
The Saudi bank said its statement came "in light of the recent market announcement with regards to Credit Suisse", without...
- Credit Suisse announced on Sunday that UBS would take it over for "a merger consideration of three billion Swiss francs," or about $3.24 billion
- After slumping on the stock market last week, Credit Suisse's share price closed Friday at 1.86 Swiss francs, with the bank worth just over $8.7 billion
Geostrategy
Xi’s offer to Saudi Crown Prince spurred Iran deal talks: Official
The initial conversation between Xi and Mohammed bin Salman took place during bilateral talks at a summit in Riyadh in...
- The agreement identifies a two-month window to formally resume diplomatic ties severed seven years ago.
- It also includes vows for each side to respect the other's sovereignty and not interfere in the other's "internal affairs".
Business
TECOM to pay $54m cash dividend
The company paid a total of AED400m for H2
- The approved dividend is in line with the Group’s previously announced dividend policy of distributing AED800 million annually.
- The Group reported a revenue of AED1.97 billion, its highest in 22 years, and a 28 percent rise in net profit.
Business
Aramco reports bumper profits
It posted $161bn profits last year on high oil prices.
- The world's second most valuable company behind Apple, said in a filing with the Saudi stock market that net income for 2022 was $161.07 billion, up from $110 billion in 2021
- Energy prices are expected to stay elevated in 2023, in part because of production cuts approved last October by the OPEC+ cartel that Riyadh co-leads with Moscow
Arts & Culture
Empowering women open doors of possibility for communities to reach new heights: Sheikha Bodour
The American University of Sharjah (AUS) President was taking part in an event, "Breaking the Glass Ceiling: Women in Business...
- Sheikha Bodour emphasizes the importance of celebrating women's contributions to their communities and empowering them
- She took part in the AUS School of Business Administration's first Women in Business event, which is part of a series of events
Opinion
Healthcare set to benefit from industrial metaverse
As the industrial metaverse ramps up, its impact will be far reaching beyond the industrial realm. It will create a...
- As the industrial metaverse ramps up, its impact will be far reaching beyond the industrial realm, writes Dmitry Kaminskiy, General Partner at Deep Knowledge Group
- It will create a direct impact on human lives through advanced healthcare, digital human avatars, human longevity, virtual surgical operations, and much more, he adds
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
Hamas will not govern post-war Gaza: Hamas source close to negotiating committee
Doha, Qatar -- A Hamas source close to the group's negotiating committee told AFP on Sunday that it will not...
Geostrategy
Company News
Latest News
G7 says diplomatic solution is still possible in Middle East
Rome, Italy -- The G7 on Wednesday vowed to work together to reduce tensions in the Middle East and said a...
Geostrategy
Abu Dhabi non-oil GDP up 6.6% in second quarter: SCAD
Abu Dhabi, UAE -- Abu Dhabi's GDP increased by 4.1 percent during the second quarter of 2024, compared to the...
Economy
Most Read
Geostrategy
Two-thirds of Gaza buildings destroyed or damaged: UN
Updating its damage assessment, the UN Satellite Centre (UNOSAT) said very high-resolution imagery collected on September 3 and 6 showed...
- "Those 66 percent of damaged buildings in the Gaza Strip account for 163,778 structures in total," it said.
- Approximately 68 percent of the permanent crop fields in the Gaza Strip showed "a significant decline in health and density" in September.
Geostrategy
Lebanon urges DNA tests to identify missing in Israel strikes
Families should head to centers affiliated with the Judicial Police "to conduct DNA tests", the police said in a statement....
- Israel has heavily bombed Lebanon's east, south and southern Beirut suburbs
- Health Minister Firas Abiad said bodies and body parts were still under the rubble
Business
Saudi leisure tourism surges by 656% in 2024: Tourism Ministry
Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector, particularly the leisure and holiday segments, witnessed substantial growth in 2024.In a...
- The Kingdom welcomed 17.5 million international tourists between January and July 2024, a 10 percent increase over the same period in 2023
- The Kingdom had set the goal of 100 million tourists by 2030, but achieved this milestone in 2023, seven years ahead of schedule.