WEF flags geoeconomic confrontation as top global risk for 2026
Experts warn economic warfare, misinformation and unchecked AI could amplify global shocks as cooperation weakens across political and trade blocs.
Geostrategy
GCC capital market reforms spawn IPO, foreign investment wave
For a region long shaped by sovereign balance sheets and state-owned champions, the Gulf is quietly rewiring its financial plumbing,...
Business
Geostrategy
Despite international appeals, Israel to ‘intensify’ Rafah assault
Defense Minister Yoav Gallant said "additional forces will enter" the Rafah area and "this activity will intensify". "Hundreds of targets...
- Israel's top ally the United States has joined other major powers in appealing for it to hold back from a full ground offensive against Hamas in Rafah.
- The 22-member Arab League, meanwhile, called for UN peacekeepers to be deployed in the occupied Palestinian territories until a two-state solution has been implemented.
Business
ADX gains $1.90bn on strong performances from bank stocks
Abu Dhabi, UAE -- The Abu Dhabi Securities Exchange (ADX) extended its gains at the close of trading today, adding...
- The total market capitalization of listed shares reached AED 3.49 trillion at the end of Thursday's trading session.
- Local stocks attracted over AED1.5 billion in liquidity at the end of the session, distributed as follows: AED 1.12 billion on the ADX and AED396.3 million on the DFM.
Business
TAQA Q1 net income $571m
Net income fell $2.58bn due to one-off items recognized in 2023.
- Net income, excluding these one-offs, increased by AED 100 million, 6.9% higher than the prior-year period.
- TAQA’s revenues reached AED 13.7 billion, 5.3 percent higher than the prior-year period, due to the contribution from SWS Holding.
Business
As international gas demand grows, Qatar eyes more long-term deals
Energy Minister Saad al-Kaabi, who is also chief executive of QatarEnergy, said the state-owned giant had secured sales of 25...
- "It's just agreeing on terms and conditions and pricing... but I think there's a huge demand out there, whether it's from Asia or Europe," Kaabi told the Qatar Economic Forum.
- "I think even Europe is realizing now they have to do something different to secure long term," he added.
Geostrategy
Summer 2023 was the hottest in 2,000 years: study
Paris, France -- Last year's northern hemisphere summer was the hottest in 2,000 years, according to a new study published on...
- Study co-author Max Torbenson told reporters that 25 of the last 28 years exceeded the summer highs of AD246 -- the hottest year before modern temperature records began.
- A separate study warns that higher temperatures and ageing populations would see tens of millions of older people being exposed to dangerous heat extremes by 2050.
Geostrategy
Israel’s Rafah attack set Hamas talks ‘backward’: mediator Qatar
"There is no clarity how to stop the war from the Israeli side. I don't think that they are considering...
- Israeli politicians were indicating "by their statements that they will remain there, they will continue the war. And there is no clarity on what Gaza will look like after this".
- A senior US official told AFP negotiations were "at a simmer, they are at a low boil", but that conversations with the parties were continuing.
Interview
RAKEZ powers Ras Al Khaimah’s growth: CEO Ramy Jallad
Jallad underscores the role played by RAK ruler Sheikh Saud in positioning the emirate as a magnet for SMEs and...
- Ras Al Khaimah is strategically located near several logistics’ routes, including shipping and aviation, says Jallad.
- RAKEZ has investors and companies from over 100 different countries, as well as 100 different industries and segments.
Geostrategy
Egypt says to support South Africa ICJ case against Israel
Pretoria brought its case to the ICJ in December, calling on the UN court to order Israel to suspend its...
- Egypt said its move to back the case comes "in light of the worsening severity and scope of Israeli attacks against Palestinian civilians in the Gaza Strip".
- It further pointed to Israel's systematic "targeting of civilians and destruction of infrastructure" and "pushing Palestinians into displacement and expulsion".
Business
QatarEnergy buys stake in Egypt blocks
It did not disclose the cost of the agreement.
- The Qatari state-owned hydrocarbon giant will receive stakes in the Cairo and Masry concessions off Egypt's north coast.
- Under the deal, the operator ExxonMobil retaining 60 percent, QatarEnergy said in a statement.
Business
TSMC’s April revenue up 60%
It capitalized on huge wave of demand for chips used in AI hardware.
- TSMC dominates the global chip industry, and the bulk of its fabrication plants are based in Taiwan, a self-ruled island that is claimed by neighboring China.
- TSMC announced plans in April for a third factory in the United States, raising its total investment in the United States to US$65 billion.
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
WEF flags geoeconomic confrontation as top global risk for 2026
Experts warn economic warfare, misinformation and unchecked AI could amplify global shocks as cooperation weakens across political and trade blocs.
Geostrategy
Company News
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Saudi Industrial Production Index increases by 3.4 percent in Nov 2024
Riyadh, Saudi Arabia -- Saudi Arabia's Industrial Production Index (IPI) increased by 3.4 percent in November 2024, compared to Nov...
Business
Saudi Arabia retains first rank in MENA Venture Capital funding in 2024
Riyadh, Saudi Arabia -- Saudi Arabia maintained its first rank across MENA in terms of Venture Capital (VC) funding in...
Business
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Business
PIF completes $7 billion inaugural murabaha credit facility
Riyadh, Saudi Arabia -- Saudi Arabia's Public Investment Fund (PIF) on Monday announced its first murabaha credit facility for the...
- The financing structure is supported by a diverse syndicate of 20 international and regional financial institutions, PIF said in a statement.
- PIF has four main sources of funding: capital injections from government, government asset transfers, retained earnings from investments, and loans and debt instruments.
Business
UAE aviation sector’s 2024 milestone: 1 million air traffic movements
Abu Dhabi, UAE -- The United Arab Emirates (UAE) achieved a milestone in the aviation industry as it surpassed 1...
- On 22nd December 2024, the one-millionth annual air traffic movement was recorded with the arrival of Emirates Flight305 from Shanghai.
- UAE recorded over 20 percent growth in air traffic over the past two years, among the highest globally.
Business
Saudi PMI falls to 58.4 in Dec as non-oil private sector improves
Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia...
- The index has remained above the neutral level (50.0 points) since September 2020.
- Business conditions experienced a marked improvement, propelled by a substantial surge in new orders.