Musk creates America Party to challenge US’s ‘one-party system’
The world's richest person -- and Trump's biggest political donor in the 2024 election -- had a bitter falling out...
Geostrategy
EU tells Israel to reverse move to cut off Palestinian banks
Brussels, Belgium -- The EU on Wednesday urged Israel to undo a move by a far-right minister that threatens to...
Geostrategy
Economy
European gas prices fall to lowest level since record high in 2022
A mild winter has enabled countries to tap less gas from stocks that were built up in anticipation of cuts...
- Gas exports by Russian energy giant Gazprom to the European Union and Switzerland fell by 55 percent last year, the company said Monday.
- Europe was previously Gazprom's main export market but supplies have been drastically reduced because of sanctions following Russia's offensive in Ukraine in 2022.
Business
Clean energy reaches 14 percent of Dubai’s total power production
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) has announced that the production capacity of...
- Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world using the Independent Power Producer model.
- Dubai's clean energy was also produced using photovoltaic solar power and concentrated solar power.
Twitter outages hit thousands of users worldwide
DownDetector reported a spike in issues with Twitter starting around 7 pm Eastern time (midnight GMT), with users unable to...
- At the peak of the outage, DownDetector clocked more than 10,000 complaints in the United States, as the hashtag #TwitterDown trended on the platform
- Web monitor NetBlocks said the outages were international and not related to country-level internet disruptions or filtering
Economy
Sharjah approves $9bn general budget for 2023
The general budget for this year aims to achieve financial sustainability and enhance the economic competitiveness of the emirate.
- The general budget for this year aims to achieve financial sustainability and enhance the economic competitiveness of the emirate
- The budget has adopted many goals, priorities and strategic indicators with economic, social, scientific and cultural dimensions.
Economy
UAE Cybersecurity Council warns against cyber attacks during New Year celebrations
The council highlighted the need for all authorities and institutions to activate their cyber defence systems.
- The council highlighted the need for all authorities and institutions to activate their cyber defence systems
- It also noted that hacking tools have now become easier to use, enabling hackers to take advantage of the holiday season
Economy
Tunisia to raise new taxes to close budget deficit
The state, saddled with a crippling public wage bill and politically sensitive subsidies, is set to take in around 46.4...
- The 2023 budget comes as the North African country grapples with eye-watering public debt, shortages of goods from sugar to petrol and inflation at nearly 10 percent
- The latest plans aim to cut the budget deficit from 7.7 percent of gross domestic product to 5.2 percent, Finance Minister Sihem Boughdiri told journalists
Business
Export Bahrain, BCCI to facilitate global market access for local businesses
Manama, Bahrain--- Export Bahrain and the Bahrain Chamber of Commerce and Industry have signed an MoU to support Bahrain-based businesses in...
- The two entities will facilitate the business community in Bahrain to attract strategic investment partnerships and enhance the competitive work environment in the Kingdom.
- The access to markets will be enabled through seminars, webinars, workshops and trade exhibitions.
Economy
US Congress green-lights $1.7 trillion in government spending
The $1.7 trillion blueprint passed by senators on Thursday was rubber-stamped by the House of Representatives just hours ahead of...
- Failure to get the package to Biden's desk would have been an embarrassment, days after his Ukrainian counterpart Volodymyr Zelensky visited the White House
- Nine Republicans crossed the aisle to help the package cross the line by 225 votes to 201, while one Democrat - New York progressive Alexandria Ocasio-Cortez - voted no
Business
Citi names new co-heads of emerging markets division in EMEA
Shaikh and Girach have worked at the bank for about 20 years.
- Rizwan Shaikh and Hamza Girach have worked at the bank for about 20 years
- Girach was a member of the group that covered Saudi Aramco's historic IPO in 2019
Economy
Chinese city seeing half a million Covid cases a day: official
A news outlet operated by the ruling Communist Party in Qingdao on Friday reported the municipal health chief as saying...
- China this month has rapidly dismantled key pillars of its zero-Covid strategy, doing away with snap lockdowns, lengthy quarantines and travel curbs
- Cities across the country have struggled to cope as surging infections have emptied pharmacy shelves and filled hospital wards
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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
Musk creates America Party to challenge US’s ‘one-party system’
The world's richest person -- and Trump's biggest political donor in the 2024 election -- had a bitter falling out...
Geostrategy
Company News
Latest News
Global tourism nears full recovery, led by Middle East’s 26% growth in 2024
While Europe and Americas have nearly returned to pre-pandemic levels, the Middle East's growth outpaces all other regions, UN World...
Business
Elon Musk’s Starlink internet launches in war-scarred Yemen
Dubai, United Arab Emirates -- Tech billionaire Elon Musk's satellite internet service Starlink has launched in Yemen, provoking the anger of...
Geostrategy
UAE banks’ Q2 investments in Islamic certificates, cash bills surge to $61.81bn
The banking sector in the country maintained strong capital adequacy, exceeding Basel 3 requirements, according to the Central Bank.
Business
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Business
Europe’s Electric Vehicle troubles bubble up at Brussels Audi factory
Brussels, Belgium -- Outside an Audi factory in Brussels described by the German carmaker as the "cradle" of its electric drive,...
- The firm is considering closing the plant, a move that analysts say is symptomatic of the troubles afflicting Europe's wider electric car industry, amid low demand and competition.
- With 3,000 jobs on the line, the Brussels workers have launched a prolonged strike, with a large demonstration planned in the capital on Monday and walkouts elsewhere in solidarity
Business
TAQA launches new corporate identity
Abu Dhabi Energy Services will be renamed as TAQA Services.
- TAQA also announced that ADDC and Al Ain Distribution Company will merge under a new unified company.
- The Abu Dhabi Transmission and Despatch Company (TRANSCO) will be renamed TAQA Transmission Networks,
Geostrategy
Gaza rescuers say Israeli strike on house kills 11, including children
"We have recovered the bodies of 11 martyrs, including four children and three women, after an Israeli warplane hit a...
- "Several families had taken refuge in the house targeted with a single missile without any prior warning," Bassal said, adding that many others were wounded.
- Bassal said Israeli forces carried out similar strikes in some other parts of the Hamas-run territory overnight, killing at least 10 people.