Trump threatens 100% tariff on BRICS countries over currency plans
Washington, United States -- President-elect Donald Trump on Monday threatened to impose a 100 percent tariff on the BRICS group nations...
Geostrategy
How are countries regulating the wild west of social media for minors?
Paris, France -- A handful of nations are trying to clean up social media with measures including robust privacy provisions and...
Geostrategy
Arts & Culture
Dubai cyclists hit the desert as sport gains traction
Abu Dhabi's Formula One circuit is handed over to cyclists several times a week, with other tracks available across the...
- UAE Team Emirates rider Tadej Pogacar has won the last two editions of the Tour de France.
- The 'Dubai Ride' was launched last year, with Crown Prince Sheikh Hamdan bin Mohammed leading the parade of cyclists down the six-lane Sheikh Zayed Road.
Geostrategy
UAE urges citizens to leave Lebanon ‘as soon as possible’
The move came a day after recalling its diplomats from Beirut over a Lebanese minister George Kordahi's remarks that Iran-backed...
- Saudi Arabia on Friday gave Lebanon's ambassador 48 hours to leave the country and recalled its envoy from Beirut.
- Bahrain and Kuwait quickly followed suit with similar measures in "solidarity" with Riyadh.
Islamic Development Bank of KSA sets the price of its issuances
The Islamic Development Bank of Saudi Arabia has set the price of its second and final issuances as part of...
- The Saudi Press Agency reported the final price of issuance instruments by the bank was SR6.3 billion ($1.7 billion)
- The president wanted to "thank investors" for trusting the institution during the recovery from the pandemic.
UAE to ease Covid curbs, allow bigger home gatherings
Owing to the decline in the transmission of coronavirus in the country, the United Arab Emirates has decided to relax...
- According to the new set of rules, occupancy at parties has been capped at 80 per cent or a maximum of 60 guests
- A negative PCR test taken no more than 48 hours before the event is also a must
S&P says lackluster tourism to keep Dubai economy down
Although Dubai is set for a ‘modest’ recovery this year on the back of a high vaccination rate in the...
- The economy of the Middle East trade, finance, and tourism hub shrank 10.9% last year
- S&P expects Dubai's real gross domestic product growth to average about 2% between 2022 and 2024
Business
Fertiglobe IPO set for $6bn valuation as subscription ends
Fertiglobe, the fertilizer firm, is all set to earn a $6 billion valuation as 114.6 million shares were allocated on...
- The amount of shares allocated is equivalent to 13.8 percent of the business
- Subscription for Fertiglobe shares began on 13 October, with two tranches, of stock offered to investors
Economy
Innovations in focus as Gitex Global begins
Artificial Intelligence, 5G, cloud, big data, cybersecurity, blockchain, quantum computing, Fintech and immersive marketing remain key focus of the five-day...
- A series of conferences and workshops will also be organised on the sidelines of the five-day exhibition.
- Gitex Global Leaders Vision will take a look at UAE 50, Saudi Vision 2030 and transformative projects in GCC.
Geostrategy
UAE forms new authority for identity, citizenship
DUBAI: The UAE on Tuesday announced a new Federal Authority for Identity, Citizenship, Customs and Ports Security, which will be...
- The new authority merges Federal Authority for Identity and Citizenship, the Federal Customs Authority, and the General Authority of Ports, Borders and Free Zones Security.
- The Authority will also be responsible for preparing laws, regulations, standards and requirements related to the passports, citizenship.
Business
ADNOC Drilling starts trading on ADX
It will start trading under the symbol ADNOCDRILL.
- Trading starts after the company raised more than $1.1 billion through an IPO.
- Upon listing, Adnoc Drilling is expected to be among the top 10 largest companies on the bourse.
Business
India to share white shipping info with Gulf countries
India has said in a statement that the MoU would ‘contribute to enhanced maritime safety and security in the region.’
- The MoU is expected to facilitate exchange of white shipping information between India and the Gulf countries
- White shipping information is about the exchange of advance details on the identity and movement of commercial, non-military merchant ships
Trump threatens 100% tariff on BRICS countries over currency plans
Washington, United States -- President-elect Donald Trump on Monday threatened to impose a 100 percent tariff on the BRICS group nations...
Geostrategy
Company News
Agility 2023 net profit $272m
Business
Latest News
Amlak 2023 net profit $70m
Business
One out of three Lebanese poverty-stricken: World Bank
Beirut, Lebanon -- A third of Lebanese people are impoverished with poverty rates tripling in a decade, the World Bank said...
Economy
Amazon to invest $17bn in Spain Â
The investment will be made in data centers in Aragon region.
Business
Palestinians optimistic but wary after recognition moves
The agreement signed with Khaldoon Al Mubarak, managing director of the Abu Dhabi government-controlled fund Mubadala, opens "a new era...
Business
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Business
Global tourism set to return to pre-Covid levels in 2024
Saudi Arabia and the UAE are the only high-income economies to rank among the top 10 most improved economies between...
- The Middle East had the highest recovery rates in international tourist arrivals (20 percent above the 2019 level).
- The top 10 countries in the 2024 edition are the United States, Spain, Japan, France, Australia, Germany, the United Kingdom, China, Italy and Switzerland.
Geostrategy
Allies mourn Raisi’s death, hailed as supporter of Palestinian resistance
Paris, France -- Iran's powerful allies on Monday mourned the death of its President Ebrahim Raisi in a helicopter crash, while...
- Iran's Gulf neighbors Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, Qatar and Oman sent their condolences.
- Hamas mourned Raisi as an "honorable supporter" of the group and hailed his "support for the Palestinian resistance".
Geostrategy
Israel, Hamas reject bid before ICC to arrest leaders for war crimes
Karim Khan said he was seeking warrants against Netanyahu and Israeli Defense Minister Yoav Gallant for crimes including "starvation", "willful...
- If granted, the warrant means that technically any of the 124 ICC member states would be obliged to arrest Netanyahu if he travelled there.
- The charges laid against the Hamas leaders including Yahya Sinwar and Ismail Haniyeh include "extermination" and "taking hostages".