Banana taped to a wall sells for $6.2 million
The provocative work of conceptual art by Italian artist Maurizio Cattelan debuted at the Art Basel show in Miami Beach...
Arts & Culture
US envoy in Beirut says ‘real opportunity’ to end Israel-Hezbollah war
US special envoy said he was in Beirut because he saw "real opportunity" to end the Israel-Hezbollah war
Geostrategy
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.
Interview
Bridging skills gap: UAE, Singapore lead the way
The two countries have adopted a people-centric and collaborative upskilling approach, says Till Leopold, Interim Head of Knowledge Communities at...
- In the UAE, impressive progress has been made in defining key skills and raising national awareness on human capital development.
- Leopold highlights AI-driven energy demand as a key sector for transformation, with significant job creation in sustainable energy.
Geostrategy
Beirut’s suburbs ravaged by Israeli air raids as Blinken urges de-escalation with Iran
Israeli airstrikes on Hezbollah's southern Beirut stronghold destroyed six buildings in the deadliest assault since the war began, despite U.S....
- In southern Lebanon, Israeli strikes pounded Tyre, leaving swathes of its centre in ruins and sparking a new exodus from the once vibrant coastal city
- Concerns are mounting over tens of thousands of civilians trapped by fighting in Gaza's aid-starved north, where Israel launched a major air and ground assault this month
Interview
WEF Dubai: UAE fosters global dialogue
The UAE has agile governance and it is not beholden to short-termism, Maroun Kairouz, Head of Regional Agenda for the...
- This year’s knowledge-share platform touched on a wide range of socio-economic challenges, from the ongoing humanitarian crises in the region to the shifts reshaping GCC industries
- Kairouz calls for a unified regional vision that can inspire a positive outlook on the future and provide alternatives to the deprivation that plague parts of the Middle East
Economy
IMF predicts slightly slower global growth in 2024 and 2025
In its new World Economic Outlook (WEO) report, the International Monetary Fund also estimates that global inflation will continue to...
- "In our baseline analysis, in advanced economies (inflation) will be back at central bank targets in 2025," he said.
- The IMF expects growth in the Middle East and Central Asia to pick up slightly to 2.4% in 2024, before jumping to 3.9% in 2025 as the effect of oil and shipping disruptions fades.
Business
ADNEC to acquire ‘Royal Catering’
Royal Catering has more than 2.500 employees.
- Serving key industries such as energy, defense, healthcare, and education, Royal Catering has earned a reputation for delivering high-quality services across the UAE.
- The addition of Royal Catering will expand Capital Catering’s industry focus from aviation, defense and healthcare and increase its production capacity
Geostrategy
Israeli settler attacks, Gaza conflict ruin Palestinian olive harvest
UN experts said recently that Palestinian farmers in the occupied West Bank are facing "the most dangerous olive season ever".
- The ongoing war has reduced vast areas of Gaza to rubble, with about 68 percent of the territory's agricultural areas damaged by the conflict.
- This year's harvest in Gaza is expected to net just 15,000 tons, sharply down from around 40,000 tons in the years before the war.
Business
PIF sets up sarcc company
The new entity will address growing staff accommodation demand.
- In a statement, PIF said sarcc will play a key role in transforming the accommodation market by developing and operating complexes for staff in Saudi Arabia.
- The company will foster the Saudi private sector by facilitating long-term investment and partnerships throughout the industry's value chain.
Geostrategy
States helping Israel’s occupation may be ‘complicit’: UN experts
"Israel's internationally wrongful acts give rise to state responsibility, not only for Israel, but for all states," said Navi Pillay,...
- It also examines the implications of last month's UN General Assembly vote demanding the occupation end within a year.
- Pillay, a former UN rights chief, said all countries are "obligated not to recognize territorial or sovereignty claims made by Israel over the occupied territories".
Geostrategy
Global Future Councils meet calls for collective action to tackle global crises
Over 500 experts gathered at the World Economic Forum Annual Meeting of the Global Future Councils 2024 in Dubai to...
- Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs of the United Arab Emirates, said, “The only constant conviction we recognize every day is that nothing remains stable.”
- Sessions also explored novel approaches needed to tackle emissions while ensuring an equitable and socially responsible transition
Banana taped to a wall sells for $6.2 million
The provocative work of conceptual art by Italian artist Maurizio Cattelan debuted at the Art Basel show in Miami Beach...
Arts & Culture
Company News
Salik 9M net profit $223m
Business
Avia to buy 40 Boeing aircraft
Business
Latest News
Arab, Muslim leaders fly to Saudi Arabia for talks on Gaza, Lebanon
Riyadh, Saudi Arabia -- Arab and Muslim leaders have begun arriving in Saudi Arabia for a summit scheduled for Monday that...
Geostrategy
Bitcoin hits $80,000 for the first time on Trump return optimism
London, United Kingdom -- Bitcoin soared to a new record high on Sunday, as traders bet that Donald Trump's return to...
Business
Global food prices reach 18-month high, vegetable oil cost soars
Paris, France -- Global food prices rose in October to their highest level in 18 months, with a sharp increase in...
Geostrategy
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Business
Emirates half-year profit $2.5bn
The record profit is subject to new 9% corporate tax for the first time.
- The airline group, operating from the world's busiest airport for international traffic, has faced regional disruptions due to the conflicts, but has expanded its network elsewhere
- Group revenue rose 5.0 percent to $19.3 billion on "consistently strong customer demand across business divisions, and across regions", the statement said.
Trump victory reflects Arab-American support, Netanyahu discusses Iran with him amid lingering regional conflict
In a unique campaign twist, Trump captured Muslim voters by pledging diplomacy, promising to end prolonged conflicts and promote stability,...
- His new Muslim supporters are celebrating his victory and confident he will deliver despite Israel, led by his close ally Benjamin Netanyahu
- But during this campaign, Trump touted his status as Israel's strongest friend, saying Biden should let Israeli Prime Minister Netanyahu "finish the job" against Hamas in Gaza
Business
Lulu’s IPO raises $1.72bn
The proceeds make it the largest UAE IPO of 2024 to date.
- The Offering achieved aggregate demand of over AED135 billion ($37 billion) from local, regional, and international investors.
- This is a record for a non-Government UAE IPO over the past 10 years, with the IPO oversubscribed by more than 25 times across all tranches (excluding Cornerstone Investors).