Arab states erupt in condemnation after US strikes on Iran
Iran's former arch-rival in the region, Saudi Arabia, which has been engaged in a Chinese-brokered détente with Tehran since 2023,...
Geostrategy
Is Cristiano Ronaldo leaving Saudi Arabia? Cryptic post fuels speculation
Riyadh, Saudi Arabia -- Questions swirled over Cristiano Ronaldo's future in Saudi Arabia on Tuesday, hours after the superstar indicated...
Arts & Culture
Geostrategy
Winter rains, flooding and limited aid worsen Gaza tragedy: IOM
"Vulnerable people, including at least seven infants, have died from hypothermia, and these tragic deaths underscore the urgent need for...
- As of mid-Dec, the Shelter Cluster, a coordination group of UN, international and local humanitarian, estimates at least 945,000 still urgently need winterization assistance.
- IOM has delivered nearly 180,000 emergency shelter items to partners inside Gaza since mid-November and has over 1.5 million more winter supplies.
Business
Oil extends gains on hopes of policy support for economic growth
Singapore - Oil prices extended gains on Friday after closing at their highest in more than two months in the...
- Brent crude futures rose 16 cents, or 0.2 percent, to $76.09 a barrel after settling at its highest since Oct. 25 on Thursday.
- Lower interest rates should spur more economic growth which would lead to higher fuel consumption.
Business
Dubai Airport set for record start to 2025: 4.3m guests in 15 days
Dubai, UAE -- Dubai International Airport (DXB) is on track to welcome 4.3 million guests in the first 15 days...
- With an average of 287,000 guests passing through daily during this period DXB is operating at volumes akin to its busiest months ever.
- This performance reflects a surge in international visitors flying out after the festive season, coupled with residents returning from holidays.
Geostrategy
18 Palestinians killed in Israeli strikes on northern, southern Gaza
Palestinian news agency (WAFA) reported that eight Palestinians were killed, and others were injured in an airstrike by the Israeli...
- In Khan Younis, in southern Gaza Strip, six Palestinians were killed, and others were injured in an airstrike by the Israeli forces targeting a building in the city center.
- Moreover, three Palestinians, including a woman, were injured when Israeli aircraft bombed a school sheltering displaced people northwest of Nuseirat in central Gaza Strip.
Business
NDMC arranges $2.5bn credit facility
The Shariah-compliant facility spans a tenure of three years.
- It is aimed at financing the general budgetary needs and was secured with the participation of three regional and international financial institutions.
- The arrangement of these credit facilities aligns with the Kingdom's medium-term public debt strategy, aimed at diversifying funding channels.
Business
Dubai real estate market saw record transactions worth $142.1bn in 2024
Dubai, UAE -- Dubai’s real estate market recorded 180,900 transactions worth AED 522.1 ($142.1 billion) in 2024, a market report...
- The transaction volume surged by 51 percent to 119,800 in 2024, reflecting a substantial increase in buyer confidence and developer activity.
- There was also a steady appreciation in the average price per sq ft, which was up 10 percent to AED 1,600.
Geostrategy
Israeli forces killed 45,553 Palestinians since Oct 2023: Health ministry
Gaza, Palestinian Territories -- The Israeli forces have killed at least 45,553 Palestinian civilians and injured at least 108,379 others,...
- At least 108,379 other civilians, most of them children, have been injured and thousands remain under debris.
- The ministry said the Israeli forces committed two massacres against Palestinian families in the Gaza Strip over the past 24 hours.
Business
Kamco Invest launches two funds
Kamco's assets under management surpass SAR 1bn.
- The new Shariah-compliant funds are named Kamco Freestyle Saudi Equity Fund and Kamco SAR Murabaha Fund.
- The company said in a statement that the launch of the two funds brings the total number of public funds managed by Kamco Invest in the Kingdom to three.
Business
Saudi PIF’s assets up by $11.44bn by the end of third quarter 2024
Riyadh, Saudi Arabia – The value of assets under Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) assets—both...
- The number of subscribers recorded a 51 percent increase, representing nearly 528,000 subscribers, to reach 1,570,452 subscribers, compared to 1,042,484 at the end of Q3 2023.
- Foreign investment assets recorded an annual growth of 15.1 percent, increasing by over SAR 3 billion to reach SAR 25.656 billion, which accounts for 16% of the total asset value.
Economy
Maysa Sabreen made first woman chief of Syrian central bank
Damascus, Syria -- Syrian authorities have appointed Maysa Sabreen as interim central bank governor, a bank official told AFP on Tuesday,...
- Sabreen, a Syrian banking expert, held the position of first deputy governor since 2018. She has also served on the central bank's management committee.
- Mohammed Issam Hazime, who headed the central bank before her, was appointed in 2021 under the rule of Bashar al-Assad.
Arab states erupt in condemnation after US strikes on Iran
Iran's former arch-rival in the region, Saudi Arabia, which has been engaged in a Chinese-brokered détente with Tehran since 2023,...
Geostrategy
Company News
Latest News
Arab leaders propose Gaza reconstruction under Palestinian Authority, reject Trump’s takeover plan
The prospect of the Palestinian Authority (PA) governing Gaza remains far from certain, however, with Israel having ruled out any...
Geostrategy
West Bank eviction film ‘No Other Land’ wins best documentary Oscar
Jerusalem -- No Other Land, a documentary about Israeli settlement in the occupied West Bank, has won the best documentary award...
Arts & Culture
Israel blocks humanitarian aid to Gaza as ceasefire’s first phase ends, sparking global outrage
Truce mediators Egypt and Qatar accused Israel of blatantly violating the ceasefire deal by halting the aid, a move left trucks...
Geostrategy
Most Read
Geostrategy
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...
- Trump first made the stunning proposal to audible gasps during a joint press conference with Netanyahu on Tuesday, whom he was hosting at the White House for talks
- Suggesting "long-term ownership" by the US, Trump said he would make Gaza the Riviera of the Middle East, and that "this could be something that could be so magnificient".
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...
- 2024 saw 1,111 M&A transactions with exposure to the MENA region, totaling US$75 billion in value
- MENA outbound M&A transactions totaled US$40.2 billion, down 3 percent
Geostrategy
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...
- Al-Sharaa’s visit signals Syria’s pivot away from Iran and closer ties with the Gulf states
- Saudi Arabia is leading efforts to reintegrate Syria into the regional fold and push for sanctions relief