Novel concept: China’s spellbinding bookstores draw selfie snappers
Tianjin, China -- Towering accordion steps and a fantastical spiral staircase greet visitors to a massive bookstore in northern China's...
Arts & Culture
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
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.
Geostrategy
Bodies of slain foreign aid workers taken out of Gaza
Israel's armed forces chief Herzi Halevi called the attack a "grave mistake", which he blamed on night-time "misidentification", adding in...
- The Israeli military killed seven staff of the US-based food charity World Central Kitchen on Monday in an attack that UN chief Antonio Guterres labelled "unconscionable."
- The seven deaths piled more pressure on Israel, whose war since the Hamas attack of October 7 has brought devastation and mass civilian casualties to Gaza
Business
Oil prices hit fresh five-month high on OPEC reduction output
Oil prices rose around one percent, with Brent crude closing in on $90 per barrel, as OPEC experts met to...
- Gold zoomed to an all-time pinnacle at $2,288.40 per ounce in Asian trade on haven demand amid geopolitical tensions and the prospect of rate cuts.
- Eurozone stocks advanced as a drop in inflation raised hopes of a rate cut by the European Central Bank, while Wall Street stocks rose following strong jobs data.
Business
Iran discovers giant shale oil reserves in several regions: NIOC
Tehran, Iran -- The National Iranian Oil Company (NIOC) has said that shale oil deposits have been discovered in 10...
- The director of exploration at the NIOC, Mehdi Fakour, announced that the company's specially designed model will enable the extraction of oil from these resources.
- Shale oil is an unconventional oil produced from oil shale rock fragments by pyrolysis, hydrogenation, or thermal dissolution.
Business
Abu Dhabi’s real estate transactions reach $4.32 billion in first quarter
Abu Dhabi, UAE -- The value of real estate transactions in Abu Dhabi reached AED 15.9 billion ($4.32 billion) during...
- The emirate logged 2,919 sales and purchases transactions in Q1 2024 totaling over AED 9.6 billion.
- DARI data showed that Abu Dhabi recorded about 2,208 mortgage deals during Q1, with a total value of AED 6.3 billion.
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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
Novel concept: China’s spellbinding bookstores draw selfie snappers
Tianjin, China -- Towering accordion steps and a fantastical spiral staircase greet visitors to a massive bookstore in northern China's...
Arts & Culture
Company News
ADNOC signs deal with PETRONAS
Business
Latest News
Cambridge study warns of perils in AI-driven ‘intention economy’
London, United Kingdom -- Conversational artificial intelligence (AI) tools may soon "covertly influence" users' decision making in a new commercial frontier...
Business
20-day-old baby Jumaa al-Batran dies from ‘severe cold’ in Gaza
Marwan al-Hamas, head of field hospitals in Gaza, confirmed the death. He said it brought to five the total number...
Geostrategy
Egypt tests Suez Canal extension aimed at boosting vessel capacity
Cairo, Egypt -- Egypt has tested a new 10-kilometre (6.2-mile) extension to the Suez Canal as it tries to minimize the...
Business
Most Read
Geostrategy
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"....
- The WHO said 60 health workers and 25 patients in critical condition, including some on ventilators, reportedly remained in Kamal Adwan Hospital.
- Patients in less severe condition were forced to evacuate to the destroyed, non-functioning Indonesian Hospital, the UN health agency said.
Business
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...
- Mexicans are increasingly switching from traditionally dominant sedans to Chinese vehicles due to a combination of comfort, technology and price.
- It is no small feat in a country home to factories of foreign brands such as Audi and BMW, and where until a few years ago imported Chinese cars were stigmatized.
Business
Global stocks rise as Japan led Asia gains on a weaker yen
Seoul was an outlier in Asia with shares plunging as South Korea's political crisis deepened with a second impeachment vote....
- Japan's Nikkei index closed up nearly two percent, with the yen's recent weakness proving a boon for major exporters.
- In Europe, Frankfurt's DAX index rose after German President Frank-Walter Steinmeier dissolved parliament on Friday and confirmed the expected date for the early general election