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
SIB’s 2024 profit $272m
The profit surpassed AED 1 billion for the first time in bank's history.
Business
Geostrategy
G7 says diplomatic solution is still possible in Middle East
Rome, Italy -- The G7 on Wednesday vowed to work together to reduce tensions in the Middle East and said a...
- Italian Prime Minister Giorgia Meloni called a telephone meeting of the body Wednesday to address the escalating Mideast crisis.
- "In a constantly evolving scenario, it was agreed to work together to promote a reduction of tensions at the regional level," said the statement released by the Italian government.
Business
Covestro accepts ADNOC takeover bid
The deal values German chemicals group at $13.3bn.
- Under the terms of the agreement, valid until the end of 2028, ADNOC will make an offer for all remaining Covestro stock at a price of 62 euros per share.
- ADNOC will also inject around 1.2 billion euros into the chemicals firm through the issuance of new shares, once the deal is completed.
Economy
Abu Dhabi non-oil GDP up 6.6% in second quarter: SCAD
Abu Dhabi, UAE -- Abu Dhabi's GDP increased by 4.1 percent during the second quarter of 2024, compared to the...
- The construction sector achieved remarkable growth rates of 11.5 percent in the second quarter of 2024, compared to the same period in 2023.
- It is estimated that the financial sector grew by 13.4 percent in the second quarter of 2024, compared to the same period in 2023.
Business
Foreigners and institutions pour $4.9 billion into UAE equities
Abu Dhabi, UAE -- Net investments by foreigners and institutions in UAE equities amounted to AED 18.3 billion ($4.9 billion)...
- Foreign investors "Arab and non-Arab" achieved net purchases in the two markets worth 15.5 billion dirhams during the same period.
- Institutions have achieved a net investment in the Abu Dhabi Securities Exchange worth more than AED 1.6 billion.
Geostrategy
Two-thirds of Gaza buildings destroyed or damaged: UN
Updating its damage assessment, the UN Satellite Centre (UNOSAT) said very high-resolution imagery collected on September 3 and 6 showed...
- "Those 66 percent of damaged buildings in the Gaza Strip account for 163,778 structures in total," it said.
- Approximately 68 percent of the permanent crop fields in the Gaza Strip showed "a significant decline in health and density" in September.
Geostrategy
Lebanon urges DNA tests to identify missing in Israel strikes
Families should head to centers affiliated with the Judicial Police "to conduct DNA tests", the police said in a statement....
- Israel has heavily bombed Lebanon's east, south and southern Beirut suburbs
- Health Minister Firas Abiad said bodies and body parts were still under the rubble
Business
Saudi leisure tourism surges by 656% in 2024: Tourism Ministry
Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector, particularly the leisure and holiday segments, witnessed substantial growth in 2024.In a...
- The Kingdom welcomed 17.5 million international tourists between January and July 2024, a 10 percent increase over the same period in 2023
- The Kingdom had set the goal of 100 million tourists by 2030, but achieved this milestone in 2023, seven years ahead of schedule.
Business
Lebanon may be seeing ‘largest displacement’ ever: PM
Prime Minister Najib Mikati said that "the estimated number is very high and may reach one million" -- which would...
- On Friday, Israel killed Hezbollah's leader Hassan Nasrallah in a move many fear risks destabilizing Lebanon and the wider region.
- Since Monday, intense Israeli attacks across Lebanon's east, south and on southern Beirut have killed hundreds of people and forced many to flee their homes.
Geostrategy
Israeli air strikes hit densely populated Hezbollah bastion in Beirut
The strikes were by far the largest in scale. Iran embassy in Lebanon warns that the strikes 'change the rules...
- Hezbollah chief Hassan Nasrallah was unharmed in the strikes, after Israeli television networks reported he was the target.
- Israel's aerial bombardment of Hezbollah strongholds around Lebanon has killed around 700 people this week alone.
Saudi Arabia announces coalition to push for Palestinian state
Prince Faisal bin Farhan said the "International Alliance to Implement the Two-State Solution" included Arab and Islamic countries, as well...
- Saudi Arabia paused US-brokered talks on recognizing Israel after the Hamas attack on Israel and the genocidal Israeli assault on Gaza.
- The hard-right Israeli government of Prime Minister Benjamin Netanyahu remains implacably opposed to Palestinian statehood.
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
Company News
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Improving healthcare in the intelligent age requires cultural change and collaboration
Leaders can utilize AI tools to streamline this challenging process by efficiently identifying individuals who are qualified matches to participate...
Israeli strike on broadcast vehicle kills five Al-Quds Today journalists
Palestinian Territories -- A Palestinian TV channel said five of its journalists were killed Thursday in an Israeli strike on...
Geostrategy
Turkey lowers interest rate to 47.5% as it battles double-digit inflation
The bank's monetary policy committee decided to reduce the policy rate from 50 percent to 47.5 percent, with a statement...
Economy
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Economy
Egypt to access $1.2 billion in funding after deal with IMF
Washington, United States -- The International Monetary Fund said Tuesday that it has reached a deal with Egyptian authorities allowing the...
- The deal comes as both sides reached staff-level agreement on the fourth review under the Extended Fund Facility arrangement, the fund said.
- The funding access is subject to executive board approval. The discussions culminating in the deal were held in person from November 6-20 and virtually afterwards.
Business
Honda shares soar 16%
The surge came after the auto giant announced a $7bn buyback.
- The buyback announcement came as Honda and its struggling rival Nissan agreed on Monday to launch talks on a merger.
- Honda will buy back its own shares worth up to 1.1 trillion yen, or 23.7 percent of the total issued shares, to improve "efficiency of its capital structure".
Business
Mubadala acquires stakes from GHH
It acquired an 80 percent stake in Global Medical Supply Chain.
- Founded in 2015, GMSC provides comprehensive end-to-end supply chain services for medical products, including demand planning, procurement and logistics.
- IDS, established in 1987, stands as one of the leading distributors of pharmaceutical and consumer healthcare products in the UAE.