A matchmaking made in Gulf Heaven
The Gulf combines an interrelated web of business habitats and tech infrastructure to create rapid, policy-driven media and knowledge hubs...
Economy
To build a knowledge economy, the GCC must bet on its young minds
In Saudi Arabia, more than 60 percent of the population is under 30, and across the GCC, over 50 percent...
Opinion
Geostrategy
What impact will Donald Trump have on the world economy?
Paris, France -- Donald Trump's return to the White House with his protectionist policies poses threats for the global economy, with...
- During his first term in office from 2017 to 2021, Trump often resorted to punitive tariffs in disputes with trade partners.
- Donald Trump's policies could also rekindle inflation, which cooled following a series of interest-rate hikes that the Federal Reserve began to unwind this year.
Business
Saudi Aramco’s quarterly profit drops 15% on low oil prices
Riyadh, Saudi Arabia -- Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third-quarter profit on Tuesday, citing prices...
- The fall in net income to $27.56bn from $32.58bn in 2023 is the seventh consecutive quarterly drop for Aramco, one of the world's biggest companies by market capitalization.
- Aramco is the chief source of revenue for Crown Prince Mohammed bin Salman's Vision 2030 reform agenda, which aims to remodel the Gulf kingdom's crude-reliant economy.
Interview
Securing the digital future: AI and global cooperation foster cyber resilience
While AI accelerates the detection and management of threats, cybercriminals also leverage this technology for sophisticated attacks, says WEF's cybersecurity expert Filipe Beato.
- Beato said cyber risks are among an organization’s highest priorities, and the threat keeps increasing, a fact emphasized by WEF since 2020.
- With the increased connectivity and dependencies of critical sectors and services, improving ecosystem cyber resilience requires collaborative action.
Geostrategy
B-52 bombers arrive in Middle East: US military
Washington, United States -- American B-52 bombers have arrived in the Middle East, the US military said Saturday, a day after...
- "B-52 Stratofortress strategic bombers from Minot Air Force Base's 5th Bomb Wing arrived in the US Central Command area of responsibility," the military said.
- The United States announced on Friday evening that it was sending the bombers, fighter and tanker aircraft and ballistic missile defense destroyers to the Middle East.
Geostrategy
Pro-Palestinian protesters take Israel sculptures from UK university
London, United Kingdom -- A pro-Palestinian group took two sculptures of Israel's first president from a UK university in a protest marking...
- "Today, Palestine Action have marked 107 years since the Balfour Declaration, by taking two sculptures of Israel's first president, Chaim Weizmann," the protest group said.
- Palestine Action also sprayed the London office of charity Jewish National Fund (JNF) with red paint.
Geostrategy
Saudi, US FM says could move ‘quite quickly’ on some deals with US
Since last year Saudi Arabia has been bargaining hard for a defense pact with the United States as well as...
- Crown Prince Mohammed bin Salman last month ruled out recognizing Israel without the establishment of a Palestinian state.
- Foreign Minister Prince Faisal bin Farhan reiterated that normalization was "off the table until we have a resolution to Palestinian statehood".
Business
DAE 9M net profit $310m
The company said this was a 54.9 percent YoY increase in net profit.
- Profit before tax settled at $326.6 million for the same period, compared to $207.5 million last year.
- Total revenue was $1.017 billion for the nine months, a YoY increase of $27.9 million, or 2.8 percent.
Economy
Global economy faces ‘low normal’ growth, widening inequality gap
The organization’s Trade and Development Report 2024 warned that this new “low normal" growth is insufficient to tackle pressing development and...
- While the global South experienced robust annual growth rates of 6.6 percent between 2003 and 2013, that figure has fallen to 4.1 percent over the past decade.
- This has made it harder for nations to expand social services, cover rising energy transition costs and manage mounting public debt.
Geostrategy
Rethink needed to make sustainable tourism work
"Growth at all costs no longer an option," says world-renowned tourism policy, planning and development expert Dr Marina Novelli in...
- Success should also be measured by more inclusive social indicators, moving from purely quantitative to qualitative assessments linked to making tourism a valuable sector.
- Coordinated efforts between government agencies, private companies, and civil society should ensure that sustainable practices are implemented across the tourism value chain.
Business
UAE records 37% increase in greenfield FDI to $16 billion in 2023
Abu Dhabi, UAE -- The UAE has witnessed a 37% increase in greenfield investments in 2023 to reach US$16 billion,...
- Sectors such financial services, industrial equipment, and transportation and warehousing played an important role in contributing to this growth.
- The most prominent countries involved in these investments were the US., India, the U.K., Saudi Arabia, and France.
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
A matchmaking made in Gulf Heaven
The Gulf combines an interrelated web of business habitats and tech infrastructure to create rapid, policy-driven media and knowledge hubs...
Economy
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.