Pope again condemns ‘cruelty’ of Israeli strikes on Gaza
"And with pain I think of Gaza, of so much cruelty, of the children being machine-gunned, of the bombings of...
Geostrategy
Geostrategy
Turkiye and EU to modernize the customs union agreement
Ankara, Turkey - Turkiye and European Union (EU) on Wednesday discussed the resumption of talks to modernize the customs union...
- Turkish Trade Minister Omer Bolat said that he discussed with the European officials the resumption of talks to modernize the customs union agreement
- The two sides also discussed the green transformation and cooperation in financing, stressing the continuation of the positive agenda between both sides
Business
India tops list of new Dubai Chamber of Commerce members during H1 2023
Dubai, UAE - Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has...
- A total of 6,717 new Indian-owned companies signed up for membership in H1 2023, compared to 4,845 in H1 2022
- In total, Indian companies accounted for 22.3% of the 30,146 new companies that joined the chamber in H1 2023
Business
Improving power situation in Libya brightens life
Till last year, outages could last 20 hours, turning the streets dark and leaving residents sweltering in temperatures above 40...
- Chronic electricity shortages had shaped the daily lives of Libyans since the fall of Moamer Kadhafi in a NATO-backed 2011 uprising.
- A decade of stop-start fighting between rival groups followed, adding combat damage and looting to the dilapidated grid in Libya.
Science
Sultan AlNeyadi set to return to earth on September 3
Dubai, UAE – Sultan AlNeyadi, along with his international crewmates, is set to return to Earth on September 3 after...
- AlNeyadi, joined by NASA astronauts Stephen Bowen and Warren Hoburg, as well as Roscosmos cosmonaut Andrey Fedyaev, will depart the ISS on September 2
- Re-entry into Earth's atmosphere will subject the spacecraft to intense heating and drag, effectively slowing its velocity to a safe level for parachute deployment
Business
Bahrain offers prisoners more rights after hunger strike
DUBAI, UAE - Bahraini authorities have agreed to offer prisoners extra rights, including more visiting hours, following a mass hunger strike...
- The interior ministry said it would "increase the duration of visitations" and was looking to raise the time inmates are allowed outdoors.
- The strike has triggered rare street protests by relatives of the prisoners demanding their immediate release.
Business
DP World, Evyap Group ink pact
The partnership aims at enhancing trade infrastructure.
- Following the completion of the transaction, the firm DP World will own 58 percent of Evyap Port.
- Evyap Group will own 42 percent of DP World Yarimca, the entity will be named DP World Evyap Port.
Geostrategy
Global Islamic microfinance surpasses US$60bn, says industry professional
DUBAI, UAE - The global Islamic microfinance industry has surpassed US$60 billion in value within the $3.8 trillion Islamic finance...
- Despite ongoing efforts and UN Millennium Goals, global poverty eradication remains an unfinished task.
- There is a growing recognition of Islamic microfinance as a important tool for poverty alleviation globally.
Geostrategy
French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
Business
Sukoon Insurance sets up OIWSS
Aim is administration of Employee Money Purchase schemes.
- OIWSS has established a partnership with Intertrust Group.
- OIWSS will be the trustee and the operator of this scheme
Geostrategy
UAE president and Ethiopia PM pledge to boost relations
The two leaders met in Addis Ababa and held talks on various aspects of bilateral relations, in addition to broader...
- They also discussed regional and international developments and exchanged views on issues of shared concern
- Sheikh Mohamed applauded Ethiopia's commitment to advancing renewable energy to attain climate neutrality
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First step for Europe’s hyperloop vehicles with test launch
Veendam, Netherlands -- The dream of hurtling between European cities at speeds of more than 700 kilometers per hour moved a...
Science
Iran’s president to visit Iraq on first foreign trip, sign MoU on security
Tehran, Iran -- Iran's President Masoud Pezeshkian will visit neighboring Iraq on Wednesday, state media reported Sunday, in what will be...
Geostrategy
Market capitalization of 20 UAE listed firms reaches $762 billion
Abu Dhabi, UAE -- The market capitalization of the top 20 listed companies in the local stock markets by market...
Business
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Geostrategy
German foreign minister heads to Middle East in Gaza truce push
The talks will focus on "the dramatic situation in the region", and especially to discuss the issue of coordinating humanitarian...
- Pressure has mounted on Israeli Prime Minister Benjamin Netanyahu to agree to a deal to end the fighting
- Baerbock will set off Wednesday evening for Saudi Arabia where she will hold talks with Foreign Minister Faisal bin Farhan Al-Saud
Geostrategy
Biden, unions pile pressure on Netanyahu for hostage release deal
Jerusalem -- Pressure mounted Monday on Israeli Prime Minister Benjamin Netanyahu as a major strike was held and US President...
- A strike announced by the main trade union seeking a deal to secure the remaining captives' release had brought parts of the country to a standstill.
- Alongside the surging domestic anger, diplomatic pressure has also grown, with the US president on Monday delivering some of his strongest criticism of Netanyahu.
Business
Bahrain to introduce minimum tax for large multinationals
Beginning in January 2025, the measure will place a minimum tax of 15 percent on revenues over 750 million euros ($830...
- A small oil producer and non-OPEC member, Bahrain has sought in recent years to diversify its revenues, which, like its Gulf neighbors, is largely dependent on hydrocarbons.
- The UAE last year began taxing the profits of companies worth more than 375,000 dirhams (roughly 91,500 euros) at 9 percent.