Turkey to export 48 fighter jets to Indonesia, deal valued at 10 billion dollars
Turkey's defence sector, including the famous Bayraktar drones, accounts for a significant share of the country's export revenues.
Geostrategy
Iraq’s first ever director in Cannes wins best feature debut
Hasan Hadi won the top prize for his childhood adventure under economic sanctions in "The President's Cake".
Arts & Culture
Economy
Reviewed: Strategies to promote wellbeing in the UAE
She was attending the Government Network Meeting of Happiness and Well-being CEOs, which seeks to align the efforts, initiatives and...
- The meeting reviewed the healthy wellbeing strategy plan which included several initiatives aimed at enhancing well-being governance and improve health
- The strategic plan focuses on a set of programs that promote a healthy well-being of the UAE residents in line with the National Well-being Strategy 2031
Business
Equal fee for India’s men and women cricketers
Match fees are however separate from annual pay packets -- there will still be enormous differences between what men and...
- Board of Control for Cricket in India (BCCI) secretary Jay Shah said, "We are implementing pay-equity policy for our contracted @BCCIWomen cricketers."
- Shah said that men and women players will now get 1.5 million rupees ($18,000) for each Test, 600,000 rupees for one-day internationals and 300,000 rupees for T20 internationals.
Business
Saudi energy minister blasts release of oil reserves ‘to manipulate markets’, warns of ‘painful’ times
"People are depleting their emergency stocks ... its profound purpose was to mitigate the shortage of supply," says Prince Abdulaziz...
- Prince Abdulaziz did not single out the US, but last week US President Joe Biden announced he was putting the final 15 million barrels on the market.
- That tranche was to complete a 180-million-barrel release authorized in the spring, in response to price hikes linked to Russia's invasion of Ukraine.
Economy
Qatar urges separating politics from the oil and gas trade
Qatar energy minister also called on governments and multilateral institutions to condemn sabotage and military attacks on energy infrastructure or...
- Qatar energy minister also called on governments and multilateral institutions to condemn sabotage and military attacks on energy infrastructure or electricity networks
- He also sought transition to low-carbon energy through a realistic mix of energy sources, including hydrocarbons, renewable energy, biofuels, nuclear power and hydrogen
Geostrategy
Iran signs contract with Russia to supply it with 40 turbines
Tehran, Iran— Iran announced Sunday a contract with Russia to supply it with 40 turbines to help its gas industry amid...
- Iran did not specify when the contract was signed, and when the turbines are due to be delivered
- Russia and Iran hold some of the world's largest gas reserves, and are both under strict US sanctions
Geostrategy
President Raisi of Iran accuses Joe Biden of “inciting chaos”
Accusing the US President Joe Biden of "inciting chaos" after he expressed support for protests in Iran, President Ebrahim Raisi...
- The street violence has led to dozens of deaths, mostly among protesters but also among the security forces, and hundreds have of demonstrators been arrested
- Biden had said Friday that "we stand with the citizens, the brave women of Iran
Economy
US President terms UK PM’s abandoned tax plan a “mistake”
Reacting to British PM Liz Truss's abandoned tax cut reform, US President Joe Biden has termed it a "mistake" as...
- Truss is set to sit down on Sunday with new finance minister Jeremy Hunt, who said she and Kwarteng had erred on September 23 in trying to cut taxes for the highest earners
- Hunt said that some taxes will not be cut as quickly as people want and that some of the taxes will go up
Geostrategy
Dubai records 65% decline in crime reports during Q3
Dubai, UAE—Dubai Police has recorded a 65 percent drop in the number of criminal reports during the third quarter of...
- The statistics were revealed during the quarterly appraisal meeting of the General Department of Criminal Investigations (CID)
- Lt. Gen. Al Marri, head of Dubai Police, commended the efforts made by the dedicated officers and employees of the CID to apprehend the perpetrators of crimes
Business
Retal’s stock rises 2.4%
It will build 550 housing units in Riyadh for $161m.
- Retal said in a bourse filing that the project is expected to positively affect the company’s results after the sale begins and the project is completed
- Last month, Retal and National Housing signed another agreement to build 759 housing units in Riyadh
Business
QNB posts 7% rise in profit
Its net profit for the first nine months of the year was $3bn.
- QNB has been subject to hyperinflationary accounting requirements since the second quarter of 2022 for its Turkey operations
- The Doha-based lender’s operating income increased 24 percent year-on-year to $7.03 billion
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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
Turkey to export 48 fighter jets to Indonesia, deal valued at 10 billion dollars
Turkey's defence sector, including the famous Bayraktar drones, accounts for a significant share of the country's export revenues.
Geostrategy
Company News
Latest News
UAE banking sector assets exceed $1.16 trillion by the end of June
Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) revealed that total banking assets, including bank acceptance certificates,...
Business
WTO says trade alone won’t bridge gap between economies
The WTO's 2024 report on global trade looked at the role that commerce has played to narrow the gap between...
Geostrategy
First step for Europe’s hyperloop vehicles with test launch
Veendam, Netherlands -- The dream of hurtling between European cities at speeds of more than 700 kilometers per hour moved a...
Science
Most Read
Business
Market capitalization of 20 UAE listed firms reaches $762 billion
Abu Dhabi, UAE -- The market capitalization of the top 20 listed companies in the local stock markets by market...
- The 20 listed companies accounted for 77.6 per cent or AED 2.79 trillion of the total market capitalization of the local equity markets of AED 3.59 trillion.
- Global Holding came out on top with a market capitalization of more than AED 912.29 billion, equivalent to 25.4 percent of the capitalization of local markets.
Economy
Global stock markets wobble as investors weigh US jobs data
Since US Federal Reserve Chairman Jerome Powell stated last month that the time for interest rates to begin coming down...
- Another big miss for August would have solidified perceptions that the US economy is slowing more sharply than initially thought.
- Government data showed Friday the world's biggest economy added 142,000 jobs last month, an increase from July's figure which was revised notably lower to 89,000.
Geostrategy
German foreign minister heads to Middle East in Gaza truce push
The talks will focus on "the dramatic situation in the region", and especially to discuss the issue of coordinating humanitarian...
- Pressure has mounted on Israeli Prime Minister Benjamin Netanyahu to agree to a deal to end the fighting
- Baerbock will set off Wednesday evening for Saudi Arabia where she will hold talks with Foreign Minister Faisal bin Farhan Al-Saud