UAE aviation sector’s 2024 milestone: 1 million air traffic movements
Abu Dhabi, UAE -- The United Arab Emirates (UAE) achieved a milestone in the aviation industry as it surpassed 1...
Business
Emirates’ first A350 takes flight
The airline operated the inaugural flight from Dubai to Edinburgh.
Business
Economy
One out of three Lebanese poverty-stricken: World Bank
Beirut, Lebanon -- A third of Lebanese people are impoverished with poverty rates tripling in a decade, the World Bank said...
- The poverty rate reached as high as 70 percent in the northern region of Akkar which borders Syria.
- The poor were also "nearly four times as likely to have an adult member restrict their food intake to feed their children," the WB report said.
Business
Amazon to invest $17bn in Spain Â
The investment will be made in data centers in Aragon region.
- The investment will create around 17,500 indirect jobs in local companies and contribute 21.6 billion euros to Spain's gross domestic product during the period.
- A pioneer of e-commerce, Amazon's AWS also dominates cloud computing with 31 percent of the market at the end of 2023, according to Stocklytics.
Business
Palestinians optimistic but wary after recognition moves
The agreement signed with Khaldoon Al Mubarak, managing director of the Abu Dhabi government-controlled fund Mubadala, opens "a new era...
- The Palestinian Authority says that 142 of the 193 UN member countries already recognize a Palestinian state.
- In the West Bank and Jerusalem, people AFP spoke to were optimistic but wanted more tangible acts towards Palestinian sovereignty.
Geostrategy
Women’s tennis signs ‘multi-year partnership’ with Saudi investment fund
New York, United States -- The women's tennis tour (WTA) on Monday announced "a multi-year partnership" with the Saudi Arabian sovereign...
- The WTA said in a statement that it shared with PIF an "ambition to grow women's professional tennis and inspire more women and girls around the world to take up the game."
- In early January, Saudi Arabia appointed Rafael Nadal as ambassador of the Saudi Tennis Federation.
Business
Global tourism set to return to pre-Covid levels in 2024
Saudi Arabia and the UAE are the only high-income economies to rank among the top 10 most improved economies between...
- The Middle East had the highest recovery rates in international tourist arrivals (20 percent above the 2019 level).
- The top 10 countries in the 2024 edition are the United States, Spain, Japan, France, Australia, Germany, the United Kingdom, China, Italy and Switzerland.
Geostrategy
Allies mourn Raisi’s death, hailed as supporter of Palestinian resistance
Paris, France -- Iran's powerful allies on Monday mourned the death of its President Ebrahim Raisi in a helicopter crash, while...
- Iran's Gulf neighbors Saudi Arabia, the United Arab Emirates, Bahrain, Kuwait, Qatar and Oman sent their condolences.
- Hamas mourned Raisi as an "honorable supporter" of the group and hailed his "support for the Palestinian resistance".
Geostrategy
Israel, Hamas reject bid before ICC to arrest leaders for war crimes
Karim Khan said he was seeking warrants against Netanyahu and Israeli Defense Minister Yoav Gallant for crimes including "starvation", "willful...
- If granted, the warrant means that technically any of the 124 ICC member states would be obliged to arrest Netanyahu if he travelled there.
- The charges laid against the Hamas leaders including Yahya Sinwar and Ismail Haniyeh include "extermination" and "taking hostages".
Arts & Culture
Saudi fashionistas attempt beach rebrand
The setting for Red Sea Fashion Week, the St Regis Red Sea Resort on Ummahat Alshaikh island, is part of...
- Beach developments are seen as major potential attractions, and Red Sea Fashion Week was partly intended to highlight what is already in place.
- Officials involved in Red Sea Global stress they are making progress, opening two resorts last year and preparing to launch 14 more hotels by the end of next year.
Business
Moroccan enterprises give jobs, hope to people with disabilities
Rabat, Morocco -- Fadoua Lamrani was elated when she was hired as a waitress at a restaurant in Morocco which employs people...
- CIAT aims to overcome social and cultural constraints to help people with disabilities into jobs they would usually find hard to obtain.
- Six other centers for people with disabilities have been launched since 2016, providing apprenticeships for 228 people.
Geostrategy
UN aid chief warns of ‘apocalyptic’ consequences of Gaza shortages
"If fuel runs out, aid doesn't get to the people where they need it, that famine, which we have talked...
- An Israeli incursion into the southern Gaza city of Rafah, launched in the face of international outcry, has deepened an already perilous humanitarian crisis in the Gaza Strip.
- The UN said on Saturday that 800,000 people had been "forced to flee" Israel's assault in Rafah.
UAE aviation sector’s 2024 milestone: 1 million air traffic movements
Abu Dhabi, UAE -- The United Arab Emirates (UAE) achieved a milestone in the aviation industry as it surpassed 1...
Business
Company News
Salik 9M net profit $223m
Business
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Avia to buy 40 Boeing aircraft
Business
Gulf summit in Kuwait urges ‘immediate ceasefire’ for Gaza
Kuwaiti Emir Sheikh Meshal al-Ahmad al-Sabah called on the international community to implement "an immediate ceasefire, providing international protection for...
Geostrategy
Trump threatens 100% tariff on BRICS countries over currency plans
Washington, United States -- President-elect Donald Trump on Monday threatened to impose a 100 percent tariff on the BRICS group nations...
Geostrategy
Elon Musk asks US court to block OpenAi’s for-profit conversion
Washington, United States -- Elon Musk has again asked a US court to stop ChatGPT-maker OpenAI from converting into a for-profit...
Business
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Geostrategy
Okonjo-Iweala’s second term: Trump’s disdain for WTO biggest challenge
Ngozi Okonjo-Iweala, the first woman and the first African to head the WTO, is the only candidate in the race,...
- Her term ends in August 2025, and the appointment process expected to lead to her next term had initially been scheduled to take months.
- During Trump's first term, the WTO also faced relentless attacks from his administration, which crippled the organization's dispute settlement appeal system.
Arts & Culture
Crypto boss Justin Sun eats banana art he bought for $6.2 million
Hong Kong, China -- Crypto entrepreneur Justin Sun on Friday fulfilled a promise he made after spending $6.2 million on an...
- Titled "Comedian", the conceptual work created by Italian artist Maurizio Cattelan was sold at a Sotheby's auction in New York last week, with Sun among seven bidders.
- Sun this week also became an advisor to World Liberty Financial, a crypto initiative backed by US president-elect Donald Trump, following a $30 million investment.
Geostrategy
How are countries regulating the wild west of social media for minors?
Paris, France -- A handful of nations are trying to clean up social media with measures including robust privacy provisions and...
- Among the countries taking action is Australia, which on Thursday passed a landmark law banning children under 16 from social media.
- In June 2023 France passed a law requiring social media platforms to check the age of users and obtain parental consent for those under 15 years of age.