Turkey, Iran leaders at Cairo summit urge action to address Gaza, Syria crises
Cairo, Egypt -- The leaders of Turkey and Iran were in Egypt on Thursday for a summit of eight Muslim-majority countries,...
Geostrategy
TikTok under fire: Espionage claims, election influence campaigns and controversies
The platform faces accusations of espionage in the United States, while the European Union has launched an investigation into claims...
Geostrategy
Student enrolments in GCC to grow by 1.1m in 5 years
Saudi Arabia is expected to lead the growth, with a CAGR of 1.6 percent, while Kuwait and the UAE are...
- Saudi Arabia is expected to lead the growth, with a CAGR of 1.6 percent, while Kuwait and the UAE are projected to experience faster growth rates compared to other member nations
- The demand for schools in the GCC is estimated to rise with a CAGR of 0.7 percent, resulting in an addition of approximately 1,127 schools by 2027, reaching 35,208 schools by 2027
ADQ, IHC Capital to form a new entity called Q Holding
Abu Dhabi, UAE - ADQ and IHC Capital Holding are joining forces to bring together ADQ's ownership of Abu Dhabi...
- The proposed transaction would create one of the region's largest real estate, hospitality, events, and catering platforms
- The combined group would have an implied market capitalization of approximately approximately US$12 billion
Middle East release of ‘Barbie’ delayed, may be banned in Saudi Arabia
Dubai, UAE - Vox Cinemas, the prominent Middle East exhibitor partnering with Warner Bros. for distribution, has decided to postpone...
- The film's bold portrayal of the iconic Western doll has sparked controversy within the Arab world
- Historical bans on earlier "Barbie" movies in Saudi Arabia were linked to depictions of women in non-traditional gender roles
Business
QFBA, Education Above All unite to offer scholarships for underprivileged students
Doha, Qatar - Qatar Finance and Business Academy (QFBA) has signed a cooperation agreement with Education Above All Foundation to...
- The agreement is also part of the effort to provide 500 scholarships in Qatar through collaboration with Qatar's General Awqaf Authority
- Founded in 2009, Qatar Finance and Business Academy specializes in providing training and professional development programs for the financial sector in Qatar
Business
ADNOC, Occidental partner to invest in carbon management projects in UAE, US
Abu Dhabi, UAE - ADNOC and Occidental on Tuesday signed a strategic collaboration agreement (SCA) to evaluate potential investment opportunities...
- The agreement is enabled by the UAE-US Partnership for Accelerating Clean Energy (PACE), which was launched in November 2022
- The partnership will catalyse $100 billion (AED367 billion) investment in clean energy and carbon management projects
Business
Arabian Drilling secures 10 new land rig contracts from Aramco
Al-Khobar, Saudi Arabia – Arabian Drilling Company, one of the largest national onshore and offshore drilling contractor in Saudi Arabia,...
- All ten land rigs are new-builds to be added to the company’s current fleet of 38 units
- The ten contracts are for additional land rigs assigned to Aramco’s Unconventional Program
Business
Brazil midfielder Fabinho quits Liverpool, signs deal with Al-Ittihad
Fabinho, the Brazil midfielder, will join Karim Benzema and N'Golo Kante at Al-Ittihad, one of four Saudi clubs controlled by...
- He joined Liverpool from Monaco in 2018, winning the Champions League, Premier League, FA Cup, League Cup and Club World Cup
- Fabinho's departure comes after Liverpool captain Jordan Henderson decided to move to Saudi Arabia to play for Al-Ettifaq
Business
SAUDIA adds new A321neo aircraft to its fleet
Jeddah, Saudi Arabia - SAUDIA, the national flag carrier of Saudi Arabia, announced the expansion of its fleet with the...
- The A321neo aircraft is a single-aisle, narrow-body aircraft and seats 180 to 220 passengers in a typical two-class interior layout
- SAUDIA serves global route network covering around 100 destinations across four continents, including all 28 domestic airports in Saudi Arabia
Business
Alkhaleej Takaful Insurance logs 28% profit
Earnings per share amounted to QR 0.165.
- Earnings per share (EPS) amounted to QR 0.165 as of June 30, 2023 versus QR 0.129 for the same period in 2022
- The ompany was established in 1979 to provide all kinds of conventional insurance and reinsurance services
Business
Middle East will spend $3bn on Artificial Intelligence in 2023: study
Dubai, UAE - The International Data Corporation (IDC) has forecasted that the Middle East will spend $3 billion on AI...
- The Middle East could gain up to $320 billion from AI advancements with Saudi Arabia benefiting the most
- The UAE is projected to experience the largest impact, accounting for about 14 percent of its 2030 GDP
Turkey, Iran leaders at Cairo summit urge action to address Gaza, Syria crises
Cairo, Egypt -- The leaders of Turkey and Iran were in Egypt on Thursday for a summit of eight Muslim-majority countries,...
Geostrategy
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Investors hold breath as Nvidia earnings loom, stock markets subdued
Paris, France -- US shares fell marginally and European stock markets mostly inched higher Wednesday as investors cautiously awaited the latest...
Business
SpaceX postpones historic mission featuring first private spacewalk
United States -- SpaceX postponed once more its attempt at launching a daring orbital expedition featuring an all-civilian crew that...
Geostrategy
UAE seeks consular services for arrested Telegram boss
"The UAE is closely following the case of its citizen Pavel Durov, founder of Telegram, who was arrested by the...
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Geostrategy
Egypt says will not accept Israeli force on its Gaza border
Cairo, a key mediator in efforts to secure a ceasefire between Israel and Hamas in Gaza, "reiterated to all parties...
- "Egypt is managing the mediation" between Israel and Palestinian militant group Hamas "in accordance with its national security", the source told Al-Qahera News.
- The negotiations, also mediated by Qatar and the United States, have yielded little hope for a ceasefire, though Washington said Friday that some progress had been made.
Business
UAE national carriers fly to 606 destinations as travel demand rebounds
Abu Dhabi, UAE -- UAE national carriers continued to expand their destinations for passengers, supported by the UAE's leading position...
- The carriers reached about 586 destinations at the end of last year 2023. The national carriers' destinations currently include more than 144 Emirates destinations.
- flydubai flies to 125 destinations in 58 countries across Africa, Central Asia, Central and Southeast Europe, the GCC, the Middle East.
Business
Alibaba to upgrade Hong Kong listing amid profit drop
Hong Kong, China -- Chinese e-commerce giant Alibaba said Friday it would upgrade its Hong Kong-listed shares to primary status, opening...
- The decision by shareholders during its annual general meeting Thursday will provide a much-needed boost to the firm, which has underperformed the market in recent years.
- Alibaba has been primarily traded in New York since 2014 and remained dual-listed after its notable return to Hong Kong through a second listing in 2019.