Saudi Arabia’s UAE ‘mudslinging’ threatens new Gulf crisis
The United Arab Emirates is "investing in chaos and supporting secessionists" from Libya to Yemen and the Horn of Africa,...
Geostrategy
Dubai Media City bets on AI to cement its global creative hub status
Dubai Media City has moved decisively beyond real estate into intellectual and digital value creation to support the next generation...
Interview
Arts & Culture
Magritte’s ‘Empire of Light’ to fetch nearly $100m at New York auction
New York, United States -- With a Magritte painting estimated to sell for nearly $100 million, drawings by pop artist Keith...
- The seminal 1954 work is one of a series of paintings from the Surrealist master depicting the interplay of shadow and light.
- Its estimated price is $95 million, which would easily shatter the previous record for a Magritte, $79 million in 2022.
Geostrategy
End of a love affair: news media quit X over ‘disinformation’
Paris, France -- News outlets have begun quitting X, formerly Twitter, once a favorite of global media but now accused of...
- Sweden's newspaper of reference, the left-liberal Dagens Nyheter (DN), on Friday became third major media outlet to stop publishing its articles on X.
- "Since Elon Musk took over, the platform has increasingly merged with his and Donald Trump's political ambitions," said editor-in-chief Peter Wolodarski.
Geostrategy
Lebanon economic losses top $5 billion in year of clashes: World Bank
Beirut, Lebanon -- More than a year of clashes that recently escalated into war have cost Lebanon more than $5 billion...
- The losses are "largely concentrated in the commerce and tourism and hospitality sectors... as well as in the agriculture sector", the Bank said in a report.
- "The final cost of damage and losses for Lebanon associated with the conflict is expected to significantly exceed those presented in this assessment," the report said.
Business
Salik 9M net profit $223m
The company's third-quarter profit increased by 8.8 percent.
- Salik reported 355.6 million revenue-generating trips, which increased 5.1 percent YoY to drive total revenue of AED1.640 billion.
- Revenue from toll usage, comprising 86.7 percent of total revenue, rose 5.1 percent YoY to AED1,422.2 million in the nine-month period.
Geostrategy
Saudi-hosted summit says Mideast peace requires end to Israeli occupation
The summit's closing statement said that "a just and comprehensive peace in the region... cannot be achieved without ending the...
- The international community should "launch a plan with specific steps and timing under international sponsorship" to make a sovereign Palestinian state a reality, it added.
- The leaders also condemned "horrific and shocking crimes" by Israel's army, saying they occurred "in the context of the crime of genocide".
Business
Avia to buy 40 Boeing aircraft
The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.
- Avia's first firm order with the aviation giant comes with an option to add another 40 jets later, Boeing and Avia said in a statement.
- The purchase announcement came shortly after striking workers at Boeing last week approved a new contract proposal, ending a more than seven-week stoppage that cost it billions
Geostrategy
Saudi crown prince demands Gaza, Lebanon ceasefires at Arab summit
Prince Salman also called on Israel not to attack Iran, highlighting improving ties between Saudi Arabia and its former regional...
- Prince Mohammed bin Salman said the international community must "immediately halt the Israeli actions against our brothers in Palestine and Lebanon".
- A draft resolution for the summit stresses "firm support" for "national rights" for the Palestinian people, "foremost among which is their right to freedom".
Geostrategy
Arab, Muslim leaders fly to Saudi Arabia for talks on Gaza, Lebanon
Riyadh, Saudi Arabia -- Arab and Muslim leaders have begun arriving in Saudi Arabia for a summit scheduled for Monday that...
- The Saudi foreign ministry announced the summit in late October during the first meeting of an "international alliance" pushing for a two-state solution.
- The 57-member OIC and 22-member Arab League include countries that recognize Israel and those firmly opposed to its regional integration.
Business
Bitcoin hits $80,000 for the first time on Trump return optimism
London, United Kingdom -- Bitcoin soared to a new record high on Sunday, as traders bet that Donald Trump's return to...
- It has been rising since Republican candidate Trump won last Tuesday's US presidential election over sentiment that he will ease regulations on digital currencies.
- During his first presidency Trump referred to cryptocurrencies as a scam, but has since radically changed his position, even launching his own platform for the unit.
Geostrategy
Global food prices reach 18-month high, vegetable oil cost soars
Paris, France -- Global food prices rose in October to their highest level in 18 months, with a sharp increase in...
- The FAO Food Price Index, which tracks monthly changes in international prices of a basket of food commodities, reached 127.4 points last month, a 2% increase from September.
- It was the highest since April 2023 but still 20.5 percent lower than the peak reached in March 2022 following Russia's invasion of agricultural powerhouse Ukraine.
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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
Saudi Arabia’s UAE ‘mudslinging’ threatens new Gulf crisis
The United Arab Emirates is "investing in chaos and supporting secessionists" from Libya to Yemen and the Horn of Africa,...
Geostrategy
Company News
Latest News
COP30 dragged into clash over gender language
Negotiators say the effort -- by Paraguay, Argentina, Iran, Indonesia, Malaysia as well as the Holy See -- seeks to...
Geostrategy
Italy’s Leonardo launches joint venture with UAE defence firm
Milan, Italy -- Italian defense group Leonardo said Wednesday it had agreed to launch a joint venture next year with...
Business
Flydubai inks $13bn Boeing deal for 75 jets as city’s airlines build up
State-owned flydubai and its long-haul partner airline, Emirates, have been the chief deal-makers at this week's Dubai Airshow, the largest...
Business
Most Read
Geostrategy
Carney’s UAE mission: A new era for Canada’s global trade ambitions
The latest visit of the Canadian PM is a part of his efforts to find new markets for his nation’s...
- With US tariff uncertainty looming, Ottawa turns to the Gulf to secure diversified markets and deeper investment ties.
- Carney’s economic diplomacy meets the UAE’s diversification drive, opening pathways in energy, agriculture, AI, and advanced technology.
Geostrategy
Israel receives bodies of two more hostages returned by Hamas
The issue of hostage bodies still in Gaza has become a sticking point in the ceasefire implementation, with Israel linking...
- Relief agencies have called for the Rafah border crossing from Egypt to be reopened to speed the flow of food, fuel and medicines.
- Gaza rescuers, meanwhile reported fresh violence in some areas despite the truce.
Arts & Culture
Wed by app: Abu Dhabi launches virtual marriage for all
Dubai, United Arab Emirates -- Couples from anywhere in the world can now get married using the Abu Dhabi government's...
- The idea of online marriage is still in its infancy, with Ukraine launching a service last year allowing couples separated by war to tie the knot using its government app.
- The United Arab Emirates experimented with allowing online ceremonies for people living in the country during the Covid-19 pandemic.