Trump threatens European nations with tariffs over Greenland
Trump aimed his ire at Denmark, a fellow NATO member, as well as several European countries that have deployed troops...
Geostrategy
MEA market decision-making cycle is fast but risk-averse
MEA markets feature rapid growth, high owner influence, diverse operator models, and younger hotel infrastructure, says Ralph Melis, co-founder and...
Interview
Business
UAE in top 10 global trending destinations: Travel Trends 2024
Dubai, UAE -- The Mastercard Economics Institute has revealed in its latest Travel Trends 2024 report a major shift in the...
- For UAE travelers, the top three trending destinations for this summer are London, Athens and Paris.
- Globally, Japan tops the trending destinations list for the past year with Munich ranking as the top trending destination for this summer (June-August 2024).
Geostrategy
Israel issues new Gaza evacuation orders, many Palestinians flee
Hundreds of thousands had already left Rafah ahead of and during a ground offensive launched by Israeli troops on the...
- The attack was claimed by the armed wing of the Palestinian group Islamic Jihad. Israel had already staged air strikes in Rafah on Monday.
- "Fear and extreme anxiety have gripped people after the evacuation order," said Bani Suhaila resident Ahmad Najjar. "There is a large displacement of residents."
Geostrategy
Short fuses in Egypt as blackouts stretch into sweltering summer
Cairo, Egypt -- At least once a day, the hum of every fan, air conditioner and fridge across Egypt goes quiet....
- A decade ago, Egypt faced similar power cuts, which helped fuel popular discontent and protests against the short-lived presidency of late Mohamed Morsi.
- The present-day blackouts come as Egyptians face the worst economic crisis of their lives, with inflation and currency devaluations shredding savings and leaving families strugglin
Geostrategy
Israel carrier says Turkish workers refused to refuel plane
Jerusalem, Undefined -- Israel's national carrier El Al said Sunday its Warsaw to Tel Aviv flight was not allowed to refuel...
- The plane then took off to Rhodes in Greece where "it will refuel before taking off to Israel", the airline said.
- Relations between Turkey and Israel have deteriorated since the war in Gaza broke out on October 7, with all direct flights between the two countries cancelled since.
Geostrategy
Fighting for third day in north Gaza as thousands displaced
Palestinian Territories -- Explosions, air strikes and gunfire rattled northern Gaza on Saturday, the third day of an Israeli military...
- An AFP correspondent reported ongoing explosions from the Shujaiya area near Gaza City, with a resident saying bodies were visible on the streets.
- The United Nations humanitarian agency OCHA estimated that "about 60,000 to 80,000 people were displaced" from the area this week.
Geostrategy
European Union chief in Egypt for joint investment conference
"At this conference, European companies are signing over 20 new deals ... which are worth over 40 billion euros," Ursula...
- The strategic partnership deal provides the financial support in exchange for boosting energy sales to Europe and stemming migration.
- Egypt, the Arab world's most populous nation, is in dire need of financial help as it weathers a severe economic crisis marked by rapid inflation.
Geostrategy
Palestinians flee as Israeli forces return to Gaza’s north
The flare-up in the northern Gaza Strip's Shujaiya district, which witnesses and medics said caused numerous casualties, comes as fears...
- Gaza City's Al-Ahli hospital, said the facility had so far received seven "martyrs including four children" and more than 40 others who were wounded.
- In Gaza, fighting has ground on despite comments Sunday by Israeli Prime Minister Benjamin Netanyahu that the "intense phase" of the war was winding down.
Business
US offers $5 million reward for Bulgarian ‘cryptoqueen’
SOFIA, Bulgaria -- The United States announced Wednesday a reward of up to $5 million for information that could lead to...
- Ignatova, 44, evaded arrest by fleeing on a flight from Sofia to Athens two weeks after her indictment in October 2017 and her whereabouts remain unknown.
- Ignatova, who has German citizenship, is accused of being the mastermind behind the mammoth fraudulent virtual currency scheme OneCoin.
Geostrategy
Remittance flows to low-middle-income countries $656bn
World Bank’s latest Migration and Development Brief said the modest 0.7 percent growth rate reflects large variances in regional growth,...
- Remittances to LMICs are expected to grow at a faster rate of 2.3 percent in 2024, although this growth will be uneven across regions.
- Remittances to the Middle East and North Africa fell by 15 percent to $55 billion While those to South Asia grew by 5.2 percent in 2023.
Geostrategy
Dubai to build $8 bn stormwater runoff system after record floods
Dubai, UAE -- Dubai on Monday announced an $8 billion plan for a stormwater runoff system, two months after an unprecedented...
- The rainwater drainage network announced by Dubai ruler Sheikh Mohammed bin Rashid Al-Maktoum is set to be completed by 2033 with construction to start in 2033.
- "It will cover all areas of Dubai and will absorb more than 20 million cubic meters of water per day," Sheikh Mohammed said of the plan for Dubai.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Trump threatens European nations with tariffs over Greenland
Trump aimed his ire at Denmark, a fellow NATO member, as well as several European countries that have deployed troops...
Geostrategy
Company News
Kamco Invest launches two funds
Business
Latest News
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...
Geostrategy
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...
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...
Geostrategy
Most Read
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.