Emirates’ first A350 takes flight
The airline operated the inaugural flight from Dubai to Edinburgh.
Business
NDMC arranges $2.5bn credit facility
The Shariah-compliant facility spans a tenure of three years.
Business
Business
Sales of Dubai $10m-plus homes surges by 19% to $1.7bn in Q1
Dubai, UAE -- One hundred and five homes priced in excess of US$10 million were sold in Dubai during the...
- Knight Frank says that last year, Dubai recorded 431 home sales above $10 million, nearly 80 percent higher than the next nearest contender—London (240)
- New York (211) rounded off the world's top three most active luxury home markets in 2023.
Geostrategy
Global ocean summit nets $10 billion in pledges: Greek PM
Athens, Greece -- An international summit on saving the oceans netted $10 billion in pledges, the prime minister of host country...
- This year's three-day conference began Monday with delegates from around 120 countries.
- The "Our Oceans" summit was launched in 2014 as the first international event of its kind to address all issues related to oceans.
Geostrategy
Heavy floods hit Dubai airport as Oman death toll rises to 18
Dubai, the Middle East's financial center, was paralyzed by the heavy storms that caused widespread flooding around the United Arab...
- Roads and residential communities also suffered heavy flooding in scenes repeated around the Emirates, where rain is an unusual event.
- A child's body was recovered on Tuesday, bringing the death toll to 18 with two people missing, emergency authorities told the official Oman News Agency.
Business
OpenAI comes to Asia
The ChatGPT creator opens first Asian office in Tokyo.
- The Japan office is the latest part of the Microsoft-backed firm's international push, having already set up bases in London and Dublin.
- OpenAI, reportedly valued at $80 billion or more earlier this year, is the latest major tech firm to invest in Japan.
Geostrategy
Stocks hit by Iran-Israel fears, containment hopes stem losses
Saturday's bombardment of more than 300 ballistic and cruise missiles and attack drones -- which were mostly repelled by air...
- Asian markets mostly fell Monday, though they pared their initial big losses. Tokyo, Hong Kong, Seoul, Sydney, Wellington, Singapore, Mumbai, Taipei and Manila were all in the red
- With worries about an escalation subsiding for now, oil prices dipped, though observers warned they could spike back above $100 if the crisis worsens.
Business
After long peace, Big Tech faces US antitrust reckoning
Launched under both the Trump and Biden administrations, five major cases from the Federal Trade Commission (FTC) and the Department...
- The most recent came in March against Apple by the FTC, which alleges the iPhone maker abuses its dominance of the premium smartphone sector.
- Washington had largely remained silent on Big Tech cases since its wars with Microsoft that began in the 1990s and ended in a settlement in the early 2000s.
Geostrategy
US troops head to region as fears grow of Gaza war’s spread
Fears of regional escalation grew after a strike on Iran's consular annex at its embassy in Damascus. Tehran blames the...
- Airlines said they are avoiding Iranian airspace, nearly two weeks after a strike, which Iran blamed on Israel, destroyed Tehran's consular annex at its embassy in Damascus.
- Tensions have also flared in the Israeli-occupied West Bank, where settler attacks left at least one Palestinian dead and dozens injured.
Business
Saudi imposes anti-dumping duties on products from 10 countries
Riyadh, Saudi Arabia -- Saudi Arabia has imposed anti-dumping duties on seven products imported from 10 European and Asian countries,...
- The products included all types of cement, including clinker, from all Iranian companies, with a dumping duty of 67.5 percent.
- The superabsorbent polymer products were also subject to anti-dumping measures on Saudi imports from five countries for five years.
Geostrategy
IMF confirms Kristalina Georgieva for second five-year term
It means that Georgieva, who was the sole candidate in the running to lead the International Monetary Fund, will continue...
- Georgieva, a 70-year-old Bulgarian, has run the IMF since 2019, and told AFP last month that she was making herself "available to serve, if people want me to serve."
- Under a controversial, decades-old agreement between Europe and the United States, the International Monetary Fund has historically been led by a European.
Business
Middle East tensions weigh on markets as oil and gold prices shoot up
London, United Kingdom -- Wall Street stocks slid on Friday despite banks beating expectations at the start of earnings season as...
- Oil prices were up more than two percent as regional tensions soared after Iran threatened reprisals over a strike in Syria.
- Gold also benefitted from its status as a haven investment, breaking the $2,400 per ounce level.
Emirates’ first A350 takes flight
The airline operated the inaugural flight from Dubai to Edinburgh.
Business
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PIF sets up sarcc company
Business
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
Riyadh tripartite meet pledges to implement Beijing Agreement
Riyadh, Saudi Arabia -- The second meeting of the Saudi-Chinese-Iranian Joint Tripartite Committee to follow up on the Beijing Agreement...
Geostrategy
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Business
Talabat IPO offer price range announced
The subscription will close on 27 Nov for UAE retail investors.
- A total of 3.493 billion shares will be made available in the offering, representing 15% of the company’s total issued share capital.
- All Shares to be offered are existing shares held by the company’s sole shareholder, Delivery Hero MENA Holding.
Geostrategy
Hamas negotiators ‘not in Doha’ but political office not closed: Qatar
Qatar, along with the United States and Egypt, had led months of fruitless negotiations for a truce in the Gaza...
- "The mediation process right now... is suspended unless we take a decision to reverse that which is based on the positions of both sides," spokesperson Majed Al-Ansari said
- "The office of Hamas in Doha was created for the sake of the mediation process. Obviously, when there is no mediation process, the office itself doesn't have any function," he said
Geostrategy
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
- US special envoy said he was in Beirut because he saw "real opportunity" to end the Israel-Hezbollah war
- "I came back because we have a real opportunity to bring this conflict to an end," Hochstein said