Saudi Arabia, UAE rank among top 20 nations globally for AI talent density
With the goal of becoming one of the world’s top 10 countries in AI research and application by 2030, Saudi...
Economy
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.
Business
AD Ports to invest in Kazakh port
Under the deal, AD Ports Group owns 51% stake.
- Sarzha Grain Terminal will see a total investment of just over US$50 million over the two phases, with AD Ports Group contributing around US$30 million.
- With phase 1 scheduled for completion in the second half of 2026, Sarzha Grain Terminal is set to enhance global food trade.
Company News
Latest News
Turkey’s 5,000-year-old bread finds new life
Arts & Culture
Turkey’s 5,000-year-old bread finds new life
Round and flat like a pancake, 12 centimeters (five inches) in diameter, the bread was discovered during excavations at Kulluoba,...
Arts & Culture
Is Cristiano Ronaldo leaving Saudi Arabia? Cryptic post fuels speculation
Riyadh, Saudi Arabia -- Questions swirled over Cristiano Ronaldo's future in Saudi Arabia on Tuesday, hours after the superstar indicated...
Arts & Culture
Iraq’s first ever director in Cannes wins best feature debut
Hasan Hadi won the top prize for his childhood adventure under economic sanctions in "The President's Cake".
Arts & Culture
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Geostrategy
Morocco to reopen embassy in Syria after Assad fall
Morocco said Saturday it will reopen its embassy Damascus, closed since 2012, signalling renewed support for Syria after the overthrow...
- The decision was announced in a letter from King Mohammed VI to Syria's interim President Ahmed al-Sharaa
- The letter said Morocco backed the Syrian people "in their quest for freedom, security, and stability."
Geostrategy
US announces new sanctions against Iran amid talks
The United States announced new sanctions Monday against Iran over its nuclear program, despite ongoing negotiations between the two countries...
- The latest sanctions target three Iranian citizens and an Iranian entity with links to Tehran's Organization of Defensive Innovation and Research,
- The discussions began last month and aim to seal a new accord that would prevent Iran from having a nuclear weapon. Tehran denies seeking to build one
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...
- India's measures, including the suspension of a key water-sharing treating and closure of the main land border crossing
- The killings have shocked New Delhi, as they marked a dramatic shift targeting civilians and the area's vital tourism industry