Arab states erupt in condemnation after US strikes on Iran
Iran's former arch-rival in the region, Saudi Arabia, which has been engaged in a Chinese-brokered détente with Tehran since 2023,...
Geostrategy
Is Cristiano Ronaldo leaving Saudi Arabia? Cryptic post fuels speculation
Riyadh, Saudi Arabia --Â Questions swirled over Cristiano Ronaldo's future in Saudi Arabia on Tuesday, hours after the superstar indicated...
Arts & Culture
Business
Rich Lebanese look for home away from hardships
Fearing visa hassles could cost him his job in Dubai while an economic collapse had dashed any homecoming options, Lebanese...
- Citizenship by investment schemes have become a booming business internationally, attracting the well-to-do from volatile countries like Iraq, Yemen and Syria
- "Three years ago, I would not have imagined I would buy a passport," said Jad, who had previously grappled with lengthy visa procedures for business trips
Science
Working with partners to understand cause of monkeypox: WHO
World Health Organization (WHO) has said that it is working closely with 'partners' to better understand the extent and cause...
- According to a WHO statement the virus is endemic in some animal populations in a number of countries
- There are about 80 confirmed cases so far, and 50 pending investigations
Geostrategy
Jewish worshipers clash with police at pilgrimage site
A crowd of Jewish worshipers broke through police barriers on Thursday at an annual pilgrimage in Israel's Mount Meron, a...
- More than 10,000 faithful had converged on the site under tightened security measures for the start of the pilgrimage on Wednesday
- The Mount Meron pilgrimage occurs on the Lag BaOmer holiday, when mainly ultra-Orthodox Jews throng the site of the tomb of revered second century rabbi Shimon Bar Yochai
Geostrategy
Iran arrests academic on national security charges
Iranian police have arrested academic and author Said Madani on charges of acting "against the security" of the country and...
- "Suspected of having links with foreign countries and of having committed actions against the country's security, Said Madani Ghahfarokhi was sent to prison," Mehr reported
- Madani has been detained several times in the past, notably in 2012 when he was sentenced to six years in prison
Business
e& buys stake in Vodafone
It bought a 9.8% stake for $4.4bn in the British firm.
- Formerly known as Etisalat, the company has acquired around 2,766 million shares in Vodafone Group
- The transaction comes in line with the telecom company’s efforts to become a global player in the field and increase its exposure to international markets
Geostrategy
Tributes pour in after passing of Sheikh Khalifa
Tributes continue to pour in from around the world after the UAE announced the death of its president, Sheikh Khalifa...
- US President Joe Biden said Sheikh Khalifa was 'a true partner and friend of the United States'
- 'The EU honours his legacy & leadership under which the UAE became frontrunner of sustainable development & economic diversification'
Business
Asian equities gain after turbulent week of trading
Asian equities were mostly up Friday following a tumultuous trading period on Wall Street, but analysts said the outlook remained...
- The Federal Reserve last week announced its largest rate hike since 2000 to slow surging inflation and signaled that similar increases were likely in the coming months
- Cryptocurrencies also saw great volatility this week
UAE President Sheikh Khalifa passes away at 73
The UAE has announced 40 days of mourning with flags at half-mast from Friday, with work suspended in the public...
- "The Ministry of Presidential Affairs condoles the people of the UAE and the Islamic world... on the passing of Sheikh Khalifa bin Zayed Al-Nahyan on Friday, May 13"
- Sheikh Khalifa took over as the UAE's second president in November 2004, succeeding his father as the 16th ruler of Abu Dhabi
Economy
Abu Dhabi’s non-oil foreign trade in Q1 grows by 15 percent to $16.74 billion
Abu Dhabi’s non-oil foreign trade in the first quarter (Q1) of 2022 amounted to AED61.522 billion ($16.74 billion), a 15...
- Exports grew by 35 percent in the first three months of the year compared to the same period of last year to reach AED24.449 billion.
- Saudi Arabia accounted for the largest share of total trade of 23 percent, valued at AED13.921 billion.
Economy
Oil, stimulus packages revive Arab world’s growth
The growth rate of Arab economies is expected to increase to around five percent in 2022 on the back of...
- The GCC countries' growth rate is expected to hit 5.8 percent in 2022, up from 3.1 percent in 2021
- In 2023, the Arab countries as a group are predicted to develop at a rate of around four percent
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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
Arab states erupt in condemnation after US strikes on Iran
Iran's former arch-rival in the region, Saudi Arabia, which has been engaged in a Chinese-brokered détente with Tehran since 2023,...
Geostrategy
Company News
Latest News
Saudi fashionistas attempt beach rebrand
Arts & Culture
Egypt says will not accept Israeli force on its Gaza border
Cairo, a key mediator in efforts to secure a ceasefire between Israel and Hamas in Gaza, "reiterated to all parties...
Geostrategy
UAE national carriers fly to 606 destinations as travel demand rebounds
Abu Dhabi, UAE -- UAE national carriers continued to expand their destinations for passengers, supported by the UAE's leading position...
Business
Alibaba to upgrade Hong Kong listing amid profit drop
Hong Kong, China -- Chinese e-commerce giant Alibaba said Friday it would upgrade its Hong Kong-listed shares to primary status, opening...
Business
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Business
EGA buys 80% stake in Spectro
EGA says the deal boosts its plan to expand recycling space globally.
- The owners and management will hold a 20 per cent stake, as the two companies have signed a share purchase agreement.
- The transaction is expected to be completed during the third quarter of 2024, subject to obtaining all regulatory approvals.
Business
Stocks wobble as investors brace for Powell’s rate cut clues
Paris, France -- Stock markets wobbled on Thursday as investors await a highly-anticipated speech by US Federal Reserve chief Jerome Powell,...
- The dollar has been under pressure from expectations of lower rates, but it pared down some losses against other major currencies on Thursday.
- The spotlight will turn to Powell when he addresses an annual gathering of global central bankers, with investors eager to hear for fresh signals about the Fed's plans.
Business
TSMC starts work on first European plant
TSMC is investing $3.9bn in the Dresden project.
- The Dresden facility will be specialized in the production of semiconductors for Germany's flagship automotive industry, currently in the throes of transitioning to EVs.
- Some 10 billion euros has been ploughed into the flagship project in the "Silicon Saxony" region, which has an industrial heritage dating back to the communist era.