Israeli invasion destroys 90% of Gaza livestock, poultry farms
Gaza, Palestinian Territories - The Israeli forces have decimated 90 percent of 2,500 poultry and cattle farms in Gaza during...
Geostrategy
Dubai Airport set for record start to 2025: 4.3m guests in 15 days
Dubai, UAE -- Dubai International Airport (DXB) is on track to welcome 4.3 million guests in the first 15 days...
Business
Business
IHC Q1 net profit $2.17bn
The company launches Share Buyback Programme
- IHC's robust performance in Q1 2024 led to a Profit after Tax margin of 41.6 percent and earnings per share of AED 2.17.
- This growth was propelled by strong performances across IHC’s core sectors of Real Estate & Construction, Technology, Marine & Dredging, Food, and Services & Others.
Business
Dubai records 5.18m international overnight visitors in Q1
Dubai, UAE -- Dubai welcomed 5.18 million international overnight visitors from January to March 2024, an 11 percent rise over...
- Dubai begun 2024 by being named the No.1 global destination for an unprecedented third successive year in the Tripadvisor Travellers’ Choice Awards.
- From January to March, the Western Europe region was Dubai’s biggest source market with 1.138 million arrivals, a 22 percent overall share.
Business
Gaza truce talks resume in Egypt, without Israel for now
Mediators from Qatar, Egypt and the United States have been waiting for Hamas to respond to a proposal that, according...
- The WHO says 1.2 million people, half of Gaza's population, have sought refuge in Rafah, which has been repeatedly threatened by Israel with an invasion.
- US has reiterated its objections to a Rafah offensive, saying Israel has not presented a plan to protect the civilians sheltering there.
Geostrategy
United Nations estimates rebuilding Gaza will cost $30bn to $40bn
"The scale of the destruction is huge and unprecedented... This is a mission that the global community has not dealt...
- He added that Gaza's reconstruction through the normal process could take decades, and the "Palestinian people do not have the luxury of waiting for decades".
- "It is therefore important that we act quickly to re-house people in decent housing and restore their lives to normal -- economically, socially, in terms of health and education".
Business
Miral Destinations to showcase latest attractions at ATM 2024
Abu Dhabi, UAE -- Miral Destinations, a subsidiary of Miral and promotional partner for Yas Island and Saadiyat Island Abu...
- Scheduled to take place from 6-9 May in Dubai, ATM offers a stage for Miral Destinations to demonstrate its dedication to innovation and sustainable tourism, media reports said.
- Saadiyat Island Abu Dhabi is launching the ‘Elevate your Senses’ campaign during Arabian Travel Market.
Geostrategy
Hamas official insists Gaza ceasefire must be permanent
Hamas is considering a plan for a 40-day ceasefire and the exchange of scores of hostages for larger numbers of...
- He said it was premature to say whether the Hamas envoys, who have returned from talks in Cairo to their base in Qatar, felt any progress was made.
- A source with knowledge of the negotiations said Qatari mediators expected a response from Hamas in one or two days.
Geostrategy
More war debris in Gaza than Ukraine: UN Mine Action Service
And the danger for clearance work is restricted not just to unexploded ordnance but includes possible exposure to toxic substances...
- "There's estimated to be over 800,000 tons of asbestos, for instance, alone in the Gaza rubble," said Mungo Birch, head of the UNMAS program in the Palestinian territories.
- Birch said he hoped UNMAS, which works to mitigate the threats posed by all types of explosive ordnance, would become the coordination body for mine action in Gaza.
Business
UpLink launches initiatives to push circular carbon economy transition
Riyadh, Saudi Arabia -- UpLink, the World Economic Forum community dedicated to supporting early-stage impact-focused entrepreneurs, has announced the launch...
- In collaboration with Saudi Arabia's Ministry of Economy and Planning and Ministry of Energy, UpLink unveiled its Circular Carbon Economy Partnership.
- The partnership aims to select a cohort of 10-20 early-stage startups to receive support in scaling their impact over the next year.
Geostrategy
Saudi Arabia calls for ‘real commitment’ towards a Palestinian state
Riyadh, Saudi Arabia --Â Saudi Arabia has called for a "real commitment to a two-state solution that is a credible, irreversible...
- At the WEF meeting, Prince Abdulaziz bin Salman, Minister of Energy, said a just and equitable energy transition will only be achieved by using a range of energy sources.
- Saudi Arabia's tourism sector has nearly doubled, growing from $35 billion to $66 billion, and set its sights on reaching $80 billion this year.
Business
McDonald’s profits up 7%
The quarterly profits increased despite weak Middle East sales.
- "The continued impact of the war in the Middle East more than offset positive comparable sales in Japan, Latin America and Europe," McDonald's said of the division.
- Earlier this month, McDonald's agreed to acquire Alonyal, which owns 225 McDonald's restaurants in Israel which have been hit by calls for a boycott over Gaza onslaught.
Israeli invasion destroys 90% of Gaza livestock, poultry farms
Gaza, Palestinian Territories - The Israeli forces have decimated 90 percent of 2,500 poultry and cattle farms in Gaza during...
Geostrategy
Company News
Lulu’s IPO raises $1.72bn
Business
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Adani Group says it lost nearly $55 billion as US bribery charges sparked rout
The November 20 bombshell indictment in New York accused billionaire industrialist founder Gautam Adani and multiple subordinates of deliberately misleading...
Business
Saudi Arabia sets Guinness record for largest food cluster
Riyadh, Saudi Arabia -- Saudi Arabia has set a Guinness World Record for the largest food cluster in the world...
Business
As AI gets real, slow and steady wins the race
Companies explore AI for coding, healthcare, law, and design—yet challenges like regulation, accuracy, and cost impede widespread adoption.
Geostrategy
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Business
Saudi Arabia’s non-oil exports surge by nearly 23% in Sept 2024
Riyadh, Saudi Arabia -- Saudi Arabia's non-oil exports surged by 22.8 percent in September, according to a report by the...
- The September 2024 International Trade Report said national non-oil exports, excluding re-exports, rose by 11.6 percent.
- The report also indicated a 14.9 percent decline in merchandise exports in September 2024 compared to September 2023.
Geostrategy
Iran denies involvement as UAE arrests three people in rabbi killing case
"This murder was carried out in the UAE. The murder of an Israeli citizen and a Chabad emissary, is an...
- Kogan was a former Israeli army soldier, who served in Israel's Givati Brigade, which is infamous for carrying out violent attacks against Palestinians
- The UAE, which normalized relations with Israel in 2020 alongside other countries including Bahrain and Morocco, has confirmed the arrest of perpetrators
Geostrategy
Wealthy nations offer $250bn on climate but pressed for more
At the COP29 talks in Azerbaijan, developing nations are demanding a bigger commitment from historic polluters most responsible for warming,...
- The text also sets an ambitious overall target to raise at least $1.3 trillion per year by 2035 from not only developed countries but the private sector.
- But a red line for many climate-imperiled nations at COP29 had been securing a new commitment from developed nations well above their existing pledge of $100 billion a year.