US unemployment rises further, hovering at highest since 2021
A deteriorating jobs market could nudge the central bank to lower rates further to boost the economy, despite some policymakers'...
Economy
Trump vows revenge after troops in Syria killed in alleged IS ambush
The deadly attack had been "an ambush by a lone ISIS gunman," who was "engaged and killed," US Central Command...
Geostrategy
Economy
Abu Dhabi’s private sector grows by over 35 percent in 2023
ABU DHABI, UAE – The Abu Dhabi Department of Economic Development (ADDED) organized, in collaboration with Abu Dhabi Investment Office...
- Al Multaqa Meetings empower Abu Dhabi to accelerate economic growth, by providing a platform to support investment.
- Supported by private sector and family-owned businesses, Abu Dhabi’s non-oil sectors is going from strength to strength.
Geostrategy
Stocks trip and oil surges as Middle East tension grows
The threat of regional war compounded fears that the Federal Reserve would not cut interest rates as much as previously...
- Optimism was at a premium on trading floors after a deadly strike on the Iranian consulate in Damascus, which Tehran blamed on Israel and threatened retaliation.
- Tokyo tanked two percent, with a stronger yen adding to the pain for Japanese investors, while Sydney, Seoul, Singapore, Wellington and Manila were also deep in the red.
Business
ADIO and Dustour Marine to drive tourism activities in Abu Dhabi
Abu Dhabi, UAE -- Abu Dhabi Investment Office (ADIO) is collaborating with Dustour Marine Wooden Boats Trading Establishment to establish...
- Located in Rabadan, the new Al Jaddaf project will provide a comprehensive sea paddle infrastructure tailored for boats.
- The 79,595 sqm project will encompass buildings dedicated to boat maintenance and repair, a center for boat buying and selling, a shop catering to fishermen supplies
Geostrategy
Israeli assault on Gaza has killed over 14,000 children since Oct 7
According to statistics cited by Al Jazeera television, about four children die every hour because of the actions of the...
- As many as 117 children were killed and 724 injured in the West Bank, where Israeli forces regularly carry out operations accompanied by clashes.
- More than 816,000 children in Palestine require the help of specialists "due to the consequences of the Israeli aggression, which led to psychological trauma.
Business
Abu Dhabi Chamber sets up 54 new Advocacy Hub working groups
Abu Dhabi, UAE -- The Abu Dhabi Chamber of Commerce and Industry (ADCCI) announced the establishment of 54 working groups...
- The chamber said these working groups are part of the efforts to support the growth and prosperity of the private sector in Abu Dhabi
- These groups also serve as a platform for presenting development ideas and proposals and facilitating communication between the private sector and government agencies
Geostrategy
UN human rights council demands halt to arms sales to Israel
The resolution -- which passed with 28 of the council's 47 member states voting in favour, six opposed and 13...
- The strongly worded text called on countries to "cease the sale, transfer and diversion of arms, munitions and other military equipment to Israel
- It stressed that the International Court of Justice ruled in January "that there is a plausible risk of genocide" in Gaza.
Geostrategy
NATO @ 75 seeks US-Europe alliance as Russia threat, Trump looms
Brussels, Belgium - NATO chief Jens Stoltenberg urged the United States to stick together with Europe as the Western military alliance...
- Russian invasion of Ukraine re-invigorated NATO as it was confronted by one of most serious challenges since it emerged from the ashes of World War II to counter the Soviet Union.
- But while the war has refocused NATO's attention on its old nemesis Moscow to the east -- there is also another threat unnerving allies from leading power the US in the west,
Geostrategy
Who recognises the existence of a Palestinian state?
Paris, France -- Israel's almost six-months-old war in Gaza since the October 7 attack has revived calls for Palestinians to be...
- According to the Palestinian Authority, which rules parts of the occupied West Bank, 137 of the 193 UN members already recognize a Palestinian state.
- Spain's left-wing Prime Minister Pedro Sanchez has announced plans to soon recognize a Palestinian state.
Business
Middle Eastern airlines passenger demand up 19.7 percent in Feb: IATA
Geneva, Switzerland -- The International Air Transport Association (IATA) released data for February 2024 global passenger demand, with total demand,...
- Global passenger demand, with total demand, measured in revenue passenger kilometers (RPKs), rising 21.5 percent year-on-year (YoY).
- Domestic demand rose 15 percent compared to February 2023; capacity was up 9.4 percent year on year and the load factor was 82.6 percent (+4.0ppt compared to February 2023).
Business
Joint Venture formed to develop Iraq’s Al Faw Grand Port, Economic Zone
Abu Dhabi, UAE -- AD Ports Group and the General Company for Ports of Iraq (GCPI) sign an agreement to...
- The agreement also encompasses the potential investment, management, and operation of ports, economic zones, and related infrastructure in other cities in Iraq.
- Both parties will explore investment opportunities and conduct the necessary feasibility studies related to ports, economic zones and other infrastructure under GCPI.
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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
US unemployment rises further, hovering at highest since 2021
A deteriorating jobs market could nudge the central bank to lower rates further to boost the economy, despite some policymakers'...
Economy
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SHUAA okays MCB tranches
The two tranches will be converted into equity at the earliest opportunity.
Business
Israeli raid puts last major Gaza health facility out of service: WHO
The World Health Organization said the operation had put the "last major health facility in north Gaza out of service"....
Geostrategy
Move over Mercedes: Chinese cars grab Mexican market share
Mexico City, Mexico -- The growing popularity of Chinese sport utility vehicles and pickup trucks has shaken up Mexico's luxury car...
Business
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Improving healthcare in the intelligent age requires cultural change and collaboration
Leaders can utilize AI tools to streamline this challenging process by efficiently identifying individuals who are qualified matches to participate...
- Embracing the potential of artificial intelligence (AI) in healthcare demands a mindset shift, prioritizing collaboration, openness and willingness to transform outdated workflows
- Collaborative models such as federated learning and open datasets foster innovation while addressing privacy concerns, paving the way for a regenerative healthcare ecosystem
Geostrategy
Israeli strike on broadcast vehicle kills five Al-Quds Today journalists
Palestinian Territories -- A Palestinian TV channel said five of its journalists were killed Thursday in an Israeli strike on...
- The station identified the five staffers as Faisal Abu Al-Qumsan, Ayman Al-Jadi, Ibrahim Al-Sheikh Khalil, Fadi Hassouna and Mohammed Al-Lada'a.
- The Palestinian Journalists Syndicate said last week that more than 190 journalists had been killed and at least 400 injured since the start of the war in Gaza.
Economy
Turkey lowers interest rate to 47.5% as it battles double-digit inflation
The bank's monetary policy committee decided to reduce the policy rate from 50 percent to 47.5 percent, with a statement...
- The central bank began to raise interest rates last year to battle soaring prices, after President Recep Tayyip Erdogan dropped his opposition to orthodox monetary policy.
- The central bank now expects inflation to reach 44 percent at the end of 2024, up from a previous estimate in August of 38 percent.