The $480 billion creator economy revolution
We're likely to see more creators seeking alternatives to traditional gatekeepers, following in the footsteps of artists like Taylor Swift....
Opinion
Geostrategy
Israel lawmakers vote to oppose Palestinian state
The vote, which drew swift criticism from the Palestinian leadership and the international community, is largely symbolic but laid down...
- The establishment of a Palestinian state on lands occupied by Israel in 1967 has been the cornerstone of the international community's efforts to resolve the conflict.
- UN chief Antonio Guterres warned Wednesday that "recent developments are driving a stake through the heart of any prospect for a two-state solution".
Economy
IMF maintains 2024 global growth forecast, warns of inflation risk
The International Monetary Fund expects the world economy to grow 3.2 percent this year, unchanged from its April forecast, according...
- But even as many countries saw better growth than anticipated early this year, the IMF flagged surprises in Japan and the United States.
- The IMF's report warned that a resurgence of tariffs can trigger retaliation and a "costly race to the bottom."
Geostrategy
European Union imposes fresh sanctions on ‘extremist’ Israeli settlers
Brussels, Belgium -- The European Union on Monday announced sanctions on five Israelis -- including those termed "extremist settlers" -- and...
- The asset freezes and visa bans are the second round of sanctions from the 27-nation bloc targeting violent Israeli settlers, taking the total number of listings to 14.
- Prominent settlers blacklisted by the European Union included Moshe Sharvit, Zvi Bar Yosef, Baruch Marzel, and Isaschar Manne.
Business
ADNOC Gas awards $550m contracts
The company aims to expand UAE gas infrastructure, increase customer reach
- Engineering, procurement and construction (EPC) contracts were awarded for the next phase of the UAE sales gas pipeline network enhancement "ESTIDAMA Project".
- ADNOC Gas will continue to expand its domestic business through ESTIDAMA, paying ADNOC a variable transmission fee for actual throughput of the pipeline.
Business
Dubai Summer Activities: A new guide to emirate’s attractions
Dubai, UAE -- A new #DubaiDestinations guide titled ‘Dubai’s Summer Activities’ invites residents and visitors to delve into an array...
- Developed by Brand Dubai, the creative arm of the Government of Dubai Media Office, the interactive guide forms part of the latest phase of the #DubaiDestinations campaign.
- It seeks to showcase the city's top-rated summer experiences and highlight unique attractions that make Dubai a one-of-a-kind summer destination.
Business
Saudi Arabia records 16% growth in air travel in first half: GACA
Riyadh, Saudi Arabia -- The number of air passengers in Saudi Arabia increased by 17 percent during the past six...
- The number of flights also reached approximately 446,000, marking a 12 percent increase compared to the same period last year.
- The airfreight volume in the first six months of 2024 witnessed a 41 percent increase, reaching 606,000 tons.
Business
2024 Global Aerospace Summit: Accelerating aerospace innovation
Abu Dhabi, UAE -- Representing the aerospace, aviation, space, and defense sectors, the premier thought leadership forum will aim to...
- The two-day event will take place on 25-26 September at the St. Regis, Saadiyat Island Resort in the UAE capital – Abu Dhabi.
- The 2024 edition will center on several objectives designed to drive the industry forward and address global aerospace concerns.
Business
Al Noor Island listed among top 10 attractions in Middle East
Sharjah, UAE -- Sharjah's renowned landmark and award-winning family-friendly destination, Al Noor Island, has secured its place among the top...
- Developed and managed by the Sharjah Investment and Development Authority (Shurooq), the destination has been ranked among Sharjah's top attractions since its inception.
- This recognition marks the second consecutive year that Al Noor Island has won the title, an achievement reserved for the top 1% of the 8 million listings on TripAdvisor.
Business
Saudi Aramco share sale nets $12.35 billion on investor demand
Riyadh, Saudi Arabia -- Saudi Aramco netted $12.35 billion, $1 billion more than expected, from a secondary share sale after exercising...
- The offering announced in May was the largest in the Middle East since Aramco's record initial public offering (IPO) in 2019, bolstering Saudi's finances.
- Aramco, the jewel of the Saudi economy that remains mostly state-owned, announced on May 30 that it would sell 1.545 billion shares.
Business
Shell, TotalEnergies and BP take stakes in UAE gas project
Dubai, United Arab Emirates -- Energy majors TotalEnergies, Shell and BP will each take a 10 percent stake in a liquefied...
- Japanese trading company Mitsui & Co. will also acquire 10 percent of the Ruwais LNG plant, scheduled to come online in 2028, the Abu Dhabi National Oil Company (ADNOC) said.
- ADNOC, the UAE's key revenue-earner, will retain a 60 percent majority stake, the firm said following a signing ceremony.
The $480 billion creator economy revolution
We're likely to see more creators seeking alternatives to traditional gatekeepers, following in the footsteps of artists like Taylor Swift....
Opinion
Company News
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Air passenger numbers to top five billion for the first time in 2025: IATA
Geneva, Switzerland -- Air passenger numbers are forecast to top five billion for the first time next year and the sector's...
Business
UAE to introduce 15% tax rate on corporate profit from Jan 2025
Dubai, United Arab Emirates -- The United Arab Emirates, home to the regional headquarters of numerous multinational companies, said Monday it...
Business
Oil prices higher on China boost, Syria uncertainty
Major stock markets diverged as investors reacted to political crises in South Korea and France, and tracked the perspectives for...
Business
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Geostrategy
UK Prime Minister to talk trade, Middle East during Gulf visit
London, United Kingdom -- Britain's leader Keir Starmer makes his first trip to the Gulf as prime minister from Sunday, seeking...
- Starmer will first visit the United Arab Emirates and then travel to Saudi Arabia, before stopping off in Cyprus on his way back to London on Tuesday.
- Starmer's trip comes after Britain last week rolled out the diplomatic red carpet for Qatar's emir Sheikh Tamim bin Hamad Al-Thani who enjoyed a state visit to the UK.
Geostrategy
Trump touts tariffs, mass deportations and NATO skepticism
In his first formal television interview -- and just six weeks before he takes office -- Trump again signaled that...
- He also stressed that his campaign promises of huge tariffs -- including against top US trading partners Canada, Mexico and China -- would be enacted.
- As to whether Americans would see higher prices as a result of those tariffs, Trump said that "I can't guarantee anything. I can't guarantee tomorrow."
Geostrategy
Qatar PM sees ‘momentum’ on Gaza talks after US election
Doha, Qatar - Qatar's prime minister said on Saturday that momentum had returned to talks aimed at securing a truce and...
- The Gulf emirate, along with the United States and Egypt, had been involved in months of unsuccessful negotiations for a Gaza truce
- But in November, Doha announced it had put its mediation on hold, saying it would resume when Hamas and Israel showed seriousness