Musk creates America Party to challenge US’s ‘one-party system’
The world's richest person -- and Trump's biggest political donor in the 2024 election -- had a bitter falling out...
Geostrategy
EU tells Israel to reverse move to cut off Palestinian banks
Brussels, Belgium -- The EU on Wednesday urged Israel to undo a move by a far-right minister that threatens to...
Geostrategy
Geostrategy
Iran ready to negotiate with US but not under ‘maximum pressure’: minister
In 2015, Iran struck a landmark deal with the United States, France, Germany, Britain, China and Russia to regulate its...
- In 2015, Iran struck a landmark deal with the United States, France, Germany, Britain, China and Russia to regulate its nuclear programme in return for the easing of international
- However, in 2018, during his first term, Trump unilaterally withdrew the United States from the agreement and reinstated heavy sanctions on Tehran, despite European opposition
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...
- Trump first made the stunning proposal to audible gasps during a joint press conference with Netanyahu on Tuesday, whom he was hosting at the White House for talks
- Suggesting "long-term ownership" by the US, Trump said he would make Gaza the Riviera of the Middle East, and that "this could be something that could be so magnificient".
Morgan Stanley sees upswing in MENA M&A deal volumes and values
After a challenging year where M&A activity in the Middle East and North Africa took a tumble, Morgan Stanley forecasts...
- 2024 saw 1,111 M&A transactions with exposure to the MENA region, totaling US$75 billion in value
- MENA outbound M&A transactions totaled US$40.2 billion, down 3 percent
Geostrategy
Syrian President’s first foreign trip to Saudi Arabia signals Syria’s shift away from Iran’s influence.
Syrian President Ahmed al-Sharaa met Saudi Crown Prince Mohammed bin Salman in Riyadh, marking his first foreign visit and signaling...
- Al-Sharaa’s visit signals Syria’s pivot away from Iran and closer ties with the Gulf states
- Saudi Arabia is leading efforts to reintegrate Syria into the regional fold and push for sanctions relief
Business
Dubai’s real estate sector records $207 billion in transactions in 2024
Dubai, UAE -- Dubai’s real estate sector recorded a total of 2.78 million procedures in 2024, the highest in its...
- Real estate transactions alone totaled 226,000, a remarkable 36 percent growth in volume and 20 percent growth in value year-on-year.
- The sector recorded 217,000 investments valued at AED526 billion, reflecting impressive growth rates of 38 and 27 percent in number and value respectively.
Business
UAE most attractive Arab destination for auto investment, business
Kuwait -- The UAE has topped the Arab list as the best and most attractive destination for investment and business...
- The automotive sector in Arab countries attracted 184 foreign projects valued at more than $25 billion, providing more than 102,000 jobs.
- Five countries: Saudi Arabia, the UAE, Algeria, Morocco and Kuwait had around 75 percent of overall vehicle sales in the region by the end of 2024.
Business
SIB’s 2024 profit $272m
The profit surpassed AED 1 billion for the first time in bank's history.
- The bank's net profit before tax increased by 36.5 percent, reaching AED1.15 billion.
- The bank saw a significant increase of 45.3 percent in fee and commission income, reaching AED400.4 million
Business
GCC leaders explore regional growth and opportunity at Doha investment meet
The burgeoning creator economy presents an unprecedented opportunity for GCC to outpace global cities and establish itself as the epicenter...
- The event was organized by The Business Year (TBY), a media group that has been providing investors and governments with first-hand insights into the world’s most dynamic markets.
- Attendees and panelists delved into comprehensive discussions that paved the way for an evening of cross-border knowledge sharing.
Geostrategy
WEF’s risks report 2025: Rising geopolitical tensions, environmental threats, disinformation dominate future threats
A survey of over 900 experts reveals state-based armed conflict as the most pressing global risk for 2025, driven by...
- A late 2024 survey of over 900 global risks experts, policymakers, and industry leaders identifies state-based armed conflict as 2025's top risk
- Extreme weather events, societal polarization, and cyber-espionage also rank prominently, underscoring a landscape fraught with challenges
Economy
Global economy set to face significant challenges in 2025: WEF survey
Geneva, Switzerland – The global economy is set to face significant challenges in 2025, with 56 percent of chief economists...
- Only 17% of chief economists foresee an improvement, pointing to heightened uncertainty in key regions and the need for measured policy responses worldwide.
- Europe continues to rank as the weakest region for the third consecutive year, with nearly three-quarters (74 percent) expecting weak or very weak growth.
Musk creates America Party to challenge US’s ‘one-party system’
The world's richest person -- and Trump's biggest political donor in the 2024 election -- had a bitter falling out...
Geostrategy
Company News
Turkey’s 5,000-year-old bread finds new life
Arts & Culture
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India and Pakistan rivalry boils after Kashmir attack
India took a raft of punitive diplomatic measures against arch-rival Pakistan on Wednesday, accusing Islamabad of supporting "cross-border terrorism" after...
Israel security chief accuses PM of demanding personal loyalty
Israel's internal security chief, whom the government is trying to sack, accused Prime Minister Benjamin Netanyahu Monday of demanding personal...
Geostrategy
US judge rules Google monopolized online ad tech market
Washington, United States -- A US judge on Thursday ruled that Google wielded monopoly power in the online ad technology...
Business
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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...
- The Israeli military has in recent days issued a number of evacuation orders to residents in northern neighborhoods of the Gaza Strip.
- On Monday, it told those living in all areas of the southern city of Rafah and parts of nearby Khan Yunis to leave.
Business
AI’s impact on jobs, technology’s touchy topic sparks unease
New York, United States - "Stop Hiring Humans" read a provocative sign at an AI conference in Las Vegas, where...
- AI agents, which are supposed to make decisions that are usually made by humans, have become the latest buzzword of the AI story
- There is little doubt that some kind of upheaval of the workplace is underway, but its precise impact remains uncertain
Geostrategy
Russia to hold talks with US in Riyadh Monday: Kremlin
Donald Trump spoke to both Russia's Vladimir Putin and Ukraine's Volodymyr Zelensky this week and the US is also due...
- "From the Russian side, they will be attended by Grigory Karasin, chairman of the Senate's committee on international affairs, and Sergei Beseda, advisor to the head of FSB.
- Ushakov said he had confirmed this after talks with US National Security Advisor Mike Waltz. Both agreed to send "expert groups" for the talks, he added.