Ukraine to propose sky, sea truce at US talks in Saudi: official
The talks on Tuesday will be the first Ukraine-US meeting since a White House blow-up between Zelensky and US President...
Geostrategy
Trump doubles down on Gaza shock plan, says Israel will turn over the territory to US
Trump said that by the time of the handover, Palestinians "would have already been resettled in far safer and more...
Geostrategy
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
Geostrategy
In first under Biden, US security advisor heads to Saudi Arabia
Biden, shortly after taking office in January, said the United States would slash US support for the Saudi-led offensive in...
- Jake Sullivan will also travel to the UAE, which had developed especially tight ties with the previous Trump administration
- Sullivan would be accompanied by officials including Tim Lenderking, the US special envoy on Yemen
Economy
Saudi Arabia saves $133.3bn in four years through budgetary discipline: Al-Jadaan
Saudi Arabia has succeeded in saving nearly $133.3 billion during the last four years by virtue of efficiency and budgetary...
- Budget overspending narrowed from 16 percent to 4 percent in recent years
- The government’s indirect lending initiative for small and medium enterprises (SMEs) helped provide SR642 million of financing to 611 SMEs
Business
MDC BMS to utilize MoniMove platform in partnership with Crediti Fintech
DUBAI: MDC Business Management Services (MDC BMS), a Mubadala company, will partner with Crediti Fintech to utilize the MoniMove platform...
- With the platform, MDC BMS will examine how to seamlessly digitize and govern clients’ supply chain transactions.
- Suppliers are likely to benefit from supply chain finance services, advanced digital delivery tracking and live site inspection tools.
Geostrategy
Lebanon raises fuel prices as subsidies are phased out
Lebanon has gradually increased fuel prices in recent months because the cash-strapped central bank can no longer afford to fund...
- Petrol prices have more than tripled since June amid severe rationing that has turned entire streets into chaotic queues for cars lining up to fill up at the pumps
- To fill a medium-sized vehicle's tank, most Lebanese would now have to pay close to the monthly minimum wage of 675,000 Lebanese pounds.
Arts & Culture
Afghan girls robotics team design their future in Qatar
The girls evacuated to Qatar were placed in one of three institutions depending on their needs with full scholarships granted...
- The girls worry about their immediate future but hope they can one day return to Afghanistan.
- Roya Mahboob, the founder of an Afghan software company, helped form the team which went on to develop a low-cost ventilator last year at the height of the pandemic.
Business
John Ireland new Amanat CFO
John will assume Amer Jeambey’ s role at the company.
- John brings over 15 years of experience of financial management to Amanat
- As CFO, he will oversee the company’s corporate and operational finance activities
Business
Wataniya Insurance to raise $53.3m through a rights issue
Wataniya Insurance Company’s board of directors has recommended to increase the company’s capital through a $53.3 million rights issue, according...
- The company plans to use the proceeds to support its future plans and increase its solvency margin
- The financial adviser for the offering will be announced once appointed
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
Ukraine to propose sky, sea truce at US talks in Saudi: official
The talks on Tuesday will be the first Ukraine-US meeting since a White House blow-up between Zelensky and US President...
Geostrategy
Company News
Latest News
Day after UAE-Chile CEPA, Dubai Chambers and Pro-Chile sign MoU
Under the MoU, both parties will coordinate events aimed at strengthening ties between exporting companies from Dubai and Chile and...
Business
Gaza official says 300 killed in Khan Yunis as army ends assault
"Since the beginning of the Israeli ground invasion of the eastern part of Khan Yunis province, the civil defence and...
Geostrategy
Most Read
Geostrategy
Lufthansa, Air France halt Beirut flights as Israel tensions rise
Beirut, Lebanon -- Air France and the German airline group Lufthansa said Monday they were suspending flights to Beirut after Israel...
- Lufthansa services would be halted up to and including August 5 due to "current developments in the Middle East", a group spokesman told AFP.
- Royal Jordanian also announced the suspension of flights, with at least two of its regular trips to Beirut cancelled.
Business
AI startups swap independence for Big Tech’s deep pockets
Washington, United States -- It's the case of the vanishing startup: some of Silicon Valley's most promising names in the fast-developing...
- Critics believe these deals are acquisitions in all but name and have been especially designed by Microsoft or Amazon to avoid the attention of competition regulators.
- US, European and UK regulators on Tuesday signed a joint statement insisting that they won't let big tech companies run roughshod over the nascent AI industry.
Business
Dubai welcomes record 9.31m international overnight visitors in H1
Dubai, UAE -- Dubai welcomed 9.31 million international overnight visitors from January to June 2024, a 9 percent increase over...
- Dubai was named the No.1 global destination for an unprecedented third successive year in the Tripadvisor Travellers’ Choice Awards in January.
- Occupied room nights increased by 3 percent, with 21.35 million at the end of H1 2024, compared to 20.73 million in H1 2023.