US announces new sanctions against Iran amid talks
The United States announced new sanctions Monday against Iran over its nuclear program, despite ongoing negotiations between the two countries...
Geostrategy
Gaza rescuers say 25 killed in Israeli strike on school-turned-shelter
Gaza civil defense spokesman Mahmud Bassal told AFP more than 100 others wounded in the strike on Dar al-Arqam School...
Geostrategy
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
Economy
New technology rejigs Gulf maritime sector
Real time data coupled with effective supply chain technology came in handy for the industry after the aviation sector was...
- The GCC countries have been making investments in integrating supply value chains with digital platforms and upgrading their technologies to keep pace with the latest developments
- Real time data coupled with effective supply chain technology came in handy for the industry after the aviation sector was grounded following the spread of COVID-19 globally
Analysis
Dubai Aerospace Enterprise’s ESG Risk Rating among lowest
Dubai Aerospace Enterprise (DAE) Ltd, the global aviation services company, has announced that it has received an ESG Risk Rating...
- The DAE team had put in over 18 months to strengthen its ESG risk management and framework
- The global aviation services company vows to continue to engage with our stakeholders on ESG issues
Iran detects 5,380 illegal energy-guzzling crypto farms
The power consumption of the farms equaled that of 2 million people.
- A farm that consumed 4 percent of the country's electricity was discovered in June.
- Iran has banned mining of cryptocurrencies till September 22.
Business
UAE economy forecast to grow 4% this year
The United Arab Emirates has forecast for its economy to grow by more than four percent this year, a level...
- Minister Abdulla bin Touq says over 30,000 jobs will be created
- The central bank had forecast 2.5 percent growth in December. Economic growth fell to around 6 percent in 2020
Business
Own a share of Dubai property for as little as $136
If you are an investor, you can now own a share of Dubai property for as little as $136.
- SmartCrowd lowers minimum investment from $545 to $136
- Regulated by the Dubai Financial Services Authority (DFSA), the firm has so far distributed 1.3 million dirhams in rental income to investors who have put their money in more than
Economy
Saudi output growth dips to weakest level in 10 months
Saudi Arabia’s output growth dipped to the weakest level for ten months amid a slowdown in new business gains.
- August PMI data from IHS Markit survey data showed a fall to 54.1 in August
- The non-oil sector weakened in August with output expansion at its weakest in 10 months
Business
UAE seeks $150bn in foreign investments, eyes stronger trade ties in Asia
The United Arab Emirates is seeking to lure $150 billion in foreign investments as part of a broad nine-year plan...
- The UAE currently ranks first in the Arab world and in the region and 15th globally in the Kearney FDI Confidence Index for 2021
- The eight countries include South Korea, Indonesia, Kenya, Ethiopia and Turkey. The relations between Turkey and the UAE are showing signs of improvement
Business
UAE to let foreigners ‘live and work’ under green visas
The United Arab Emirates has decided to give out new visas allowing foreigners to settle in the emirates.
- Visas announced during launch of UAE's 'Projects of the 50' initiative
- The Green visas will allow entrepreneurs and other professionals to live and work in the UAE
Investigation
$5m fine for polluting water in Saudi Arabia
Saudi Arabia has launched a strict campaign of penalizing companies and individuals involved in polluting water resource of the kingdom....
- Raft of tough regulations in campaign to protect the Kingdom’s marine environment
- The new rules ban the removal of rocks, pebbles, beach sand and marine sediment
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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
US announces new sanctions against Iran amid talks
The United States announced new sanctions Monday against Iran over its nuclear program, despite ongoing negotiations between the two countries...
Geostrategy
Company News
McDonald’s profits up 7%
Business
Latest News
Thousands bid farewell to Ismail Haniyeh in Qatari capital
Haniyeh was laid to rest in Lusail, north of the capital Doha, following funeral prayers at the Gulf emirate's largest mosque...
Geostrategy
Iran, allies ready Israel response as funerals held for Haniyeh, Shukr
Hezbollah chief Hassan Nasrallah, addressing the funeral of the Lebanese group's top military commander, said Israel and "those who are...
Geostrategy
British Petroleum to develop four new oil and gas fields in Iraq
Baghdad, Iraq -- Iraq signed an agreement with British energy giant British Petroleum on Thursday to develop four oil and gas...
Business
Most Read
Arts & Culture
World Rally Championship to add Saudi Arabia race to calendar
Paris, France -- World Rally Championship announced Wednesday that it will add races in Saudi Arabia, the Canary Islands and Paraguay...
- Rally Saudi Arabia will end the season on November 27-30 with the event in the Spanish archipelago on April 24-27 and the race in South America on August 28-31.
- It also added the Canary Islands and Paraguay to its calendar next year. Rallys in Croatia, Poland and Latvia are no longer on the circuit.
Business
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...
- The CEPA is projected to increase non-oil bilateral to $750 million by 2030, more than doubling the US$306 million shared in 2023.
- Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said the CEPA is expected to come into effect within the next six months.
Business
BP H1 profits down 79%
Revenue dropped 8 percent to $98 billion in the same period.
- BP said increased volume and lower exploration write-offs were "partly offset by increased depreciation charges and higher costs".
- The group earlier this month flagged to markets that its latest earnings would take a sizeable hit from a cut to oil refining in Germany.