Turkey to export 48 fighter jets to Indonesia, deal valued at 10 billion dollars
Turkey's defence sector, including the famous Bayraktar drones, accounts for a significant share of the country's export revenues.
Geostrategy
Iraq’s first ever director in Cannes wins best feature debut
Hasan Hadi won the top prize for his childhood adventure under economic sanctions in "The President's Cake".
Arts & Culture
Economy
Unemployment rate among Saudi nationals 7.8 percent in Q3
Riyadh, Saudi Arabia -- Unemployment rate among Saudi nationals reached 7.8 percent in the third quarter of 2024, a year-on-year...
- Data released by the General Authority for Statistics (GASTAT) said that the Saudi and non-Saudi labor force stood at 66.6 percent, a 0.4 percentage point increase over Q2 of 2024.
- Saudi women's participation in the labor force, which increased by 0.8 percentage points, to 36.2 percent and men's participation up by 1.1 percentage point.
Business
Key healthcare digital trends to watch in 2025
From AI-powered content creation to automated feedback systems, technology is streamlining operations and improving patient care.
- One of the most notable shifts is the growing ability to harness patient data responsibly for tailored marketing and engagement.
- Reputation management is taking center stage as well, with automated systems streamlining the collection of patient feedback and testimonials.
Economy
UAE real GDP grows by 3.6% in first half of 2024, says economy minister
Non-oil sectors' contribution to GDP reaches 75%. Economy minister Abdulla bin Touq Al Marri says the growth reflects the dynamic...
- The Minister said that the robust growth of non-oil sectors during the first half of 2024 reflects the dynamic nature of the UAE's economy.
- Transportation and storage activities led economic growth in the first half of 2024, with an impressive 8.4 percent growth rate.
Business
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...
- The marketplace emerging for "digital signals of intent" could, in the near future, influence everything from buying movie tickets to voting for political candidates.
- Our increasing familiarity with chatbots, digital tutors and other so-called "anthropomorphic" AI agents is helping enable this new array of "persuasive technologies".
Geostrategy
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...
- Jumaa's twin brother remains in the intensive care unit at a local hospital, the health ministry in territory said.
- "There is no electricity. The water is cold and there is no gas, heating or food," said Yahya al-Batran, the father of the child.
Business
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...
- Vessels navigating the waterway have at times run aground, mostly because of strong winds and sandstorms.
- The new extension is set to boost the canal's capacity by six to eight vessels a day, Rabie said, and it will open after new navigational maps are issued.
Business
SHUAA okays MCB tranches
The two tranches will be converted into equity at the earliest opportunity.
- The first tranche, valued at up to AED150 million, will be offered to existing shareholders through a private placement.
- The second tranche, valued at up to AED275.5 million, will be offered to holders of existing bonds issued by a SHUAA-related special-purpose entity under the same conversion terms.
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
Turkey to export 48 fighter jets to Indonesia, deal valued at 10 billion dollars
Turkey's defence sector, including the famous Bayraktar drones, accounts for a significant share of the country's export revenues.
Geostrategy
Company News
Latest News
Iran ready to negotiate with US but not under ‘maximum pressure’: minister
In 2015, Iran struck a landmark deal with the United States, France, Germany, Britain, China and Russia to regulate its...
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...
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...
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Business
Dubai’s real estate sector records $207 billion in transactions in 2024
Dubai, UAE -- Dubai’s real estate sector recorded a total of 2.78 million procedures in 2024, the highest in its...
- Real estate transactions alone totaled 226,000, a remarkable 36 percent growth in volume and 20 percent growth in value year-on-year.
- The sector recorded 217,000 investments valued at AED526 billion, reflecting impressive growth rates of 38 and 27 percent in number and value respectively.
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