The Gulf’s Capital Plumbing
Futuristic, lifestyle-changing entrepreneurial ideas are targeting liquid GCC markets, where hyperscalers and deep-pocketed sovereign and private investors and family offices...
Economy
Jury selection begins in landmark social media addiction trial
Los Angeles, United States -- Jury selection begins Tuesday for a landmark trial that could establish a legal precedent on...
Geostrategy
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.
Geostrategy
Saudi Arabia opens resort island at futuristic mega-city NEOM
Riyadh, Saudi Arabia -- Saudi Arabia's planned futuristic mega-city known as NEOM announced on Sunday the opening of its "first physical...
- The Red Sea island, known as Sindalah, is "spread over 840,000 square meters" (200 acres) and will be set to receive "up to 2,400 guests per day by 2028".
- NEOM is best known for The Line, twin mirror-encased 170-kilometre-long skyscrapers meant to extend inland from the coast.
Arts & Culture
Saudis part ways with coach Mancini after a run of poor results
Riyadh, Saudi Arabia -- Saudi Arabia's football body said it was ending the contract of national coach Roberto Mancini after 14...
- The Saudi Football Federation has reached a mutual agreement to terminate the contract of Mancini, 59, who signed a lucrative deal until 2027 in August last year.
- Building a strong national team is a priority for the oil-rich Saudis who splashed more than a billion dollars on players last year and are the sole bidders for the 2034 World Cup.
Geostrategy
Israel to send negotiators to new Gaza truce talks in Qatar
The head of Israel's Mossad spy agency, David Barnea, will head to Qatari capital Doha on Sunday, the Israeli prime...
- US Secretary of State Antony Blinken said that mediators would explore new options after the failure of previous efforts to seal a ceasefire and hostage release deal.
- The US and Qatar were seeking a plan "so that Israel can withdraw, so that Hamas cannot reconstitute, and so that the Palestinian people can rebuild their lives.
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The Gulf’s Capital Plumbing
Futuristic, lifestyle-changing entrepreneurial ideas are targeting liquid GCC markets, where hyperscalers and deep-pocketed sovereign and private investors and family offices...
Economy
Company News
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Amazon climate deal a ‘win’ for global unity but fossil fuels untouched
Nearly 200 countries approved the deal by consensus after two weeks of exhaustive negotiations on the fringes of the rainforest,...
Geostrategy
UAE says will invest up to $50 billion in Canada
The fresh North American investment pledge came after UAE President Mohamed bin Zayed Al Nahyan promised in May to pump...
Geostrategy
COP30 deal under threat as nations clash over fossil fuels
The draft text unveiled by COP30 host Brazil made no mention of "fossil fuels" or the word "roadmap" that President...
Geostrategy
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Geostrategy
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...
- The issue has become so sensitive that COP30's Brazilian presidency has elevated it from technical negotiations to a higher political level.
- At stake is a revamped Gender Action Plan (GAP) meant to guide work for the next decade, including efforts to mainstream gender across climate programs.
Business
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...
- Details of the sectors covered by the joint venture have yet to be announced.
- But it will cover a range of Leonardo's solutions "spanning sensors, system integration, and platforms", the Italian group said in a statement.
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...
- Dubai, the UAE's commercial jewel, will soon start work on a new airport with capacity for a world-leading 150 million passengers a year, slated to open in 2032.
- Dubai's current international airport announced a record quarter of 24.2 million passengers. The facility has been the busiest for international passengers for the past 11 years.