In Data Center Alley, AI sows building boom, doubts
Ashburn, United States -- As planes make their final approach to Washington DC's Dulles Airport, just below lies Ashburn, a...
Business
Pope urges Lebanese to stay in their country despite difficulties
Leo emphasized the need for peace, using the word more than 20 times during the address, without mentioning any specific...
Geostrategy
Geostrategy
Israeli assault on Rafah a ‘terrifying’ prospect: UN rights chief
UN human rights chief Volker Turk urged world powers to "restrain rather than enable" as fears of a looming ground incursion...
- UN's agriculture agency, meanwhile, said the population of the Gaza Strip is suffering "unprecedented" levels of "near famine-like conditions".
- All 2.2 million people in Gaza are in the top three hunger categories, from level three, which is considered an emergency, to level five, or catastrophe, an FAO official said.
Business
Bahrain: Ideal business incubation hub in GCC?
The Kingdom's openness to 100 percent foreign ownership for onshore firms and zero-tax policy make enhance its appeal as business...
- Bahrain boasts robust logistics infrastructure including Salman Port and Khalifa Port.
- The setting up cost is around 10-15 percent of what you're going to pay in other top GCC countries.
Business
BGN to get $100m in financing
Abu Dhabi Exports Office, Mashreq and ADCB to provide financing.
- The strategic collaboration sets the stage for a financing arrangement, offering up to $100 million to facilitate the export of energy commodities from the UAE.
- The financing arrangement, a revolving credit line, is embedded with an accordion feature whereby regional banks and their overseas affiliates can contribute additional funding.
Economy
IMF chief forecasts higher economic growth for Arab region in 2024
Dubai, UAE -- International Monetary Fund (IMF) chief Kristalina Georgieva has forecasted that the total GDP growth for the Middle...
- The GDP growth for the Middle East region would reach 2.9 percent this year, surpassing the figures from 2023.
- The IMF Chief also anticipated a decline in global inflation rates for 2024, while underscoring that medium-term global growth prospects remain at around 3 percent.
Business
Mesaieed 2023 net profit down 39%
The company's net profit in 2022 was QR 1.76 billion ($482m).
- According to Qatar Stock Exchange website, the Company's Earnings per share (EPS) amounted to QR 0.086 in 2023 versus EPS QR 0.141 for the same period in 2022.
- The Board of Directors recommends a cash dividend of QR 0.086 per share, equating to a payout ratio of 100 percent of net earnings for 2023.
Geostrategy
Hamas warns Israeli invasion of Rafah will ‘torpedo’ hostage talks
Foreign governments, including Israel's key ally the United States, and aid groups have voiced deep concern over Israeli Prime Minister...
- The United Arab Emirates, Qatar, Oman and the Organization of Islamic Cooperation (OIC) were some of the latest to raise the alarm over the plan for Rafah.
- German Foreign Minister Annalena Baerbock said on social media platform X that "the people in Gaza cannot disappear into thin air".
Geostrategy
Thousands in Morocco protest ties with ‘genocidal’ Israel
In late 2020, Morocco established diplomatic ties with Israel under the Abraham Accords brokered by the United States which saw...
- Since the Israel-Hamas war in Gaza began on October 7, several large-scale demonstrations in the North African kingdom have called for the abrogation of the normalization deal.
- "Normalization is treason," and "Stop the massacre," read banners protesters carried in front of Morocco's parliament in the center of Rabat.
Business
Asian labor dialogue champions tech solutions for disputes
Dubai, UAE -- Ministers of labor and human resources from 16 Asian countries sending and receiving workers have called for...
- A total of 16 countries participated in the current edition of the Abu Dhabi Dialogue, including nine workers-sending countries.
- The UAE showcased its social protection system for workers, including the Unemployment Insurance Scheme.
Business
Dubai Customs new record: 17.15m international visitors in 2023
Dubai, UAE -- In 2023, Dubai Customs managed 46.87 million bags from 206,396 flights, averaging 128,400 bags daily and played...
- In 2023, Dubai Customs managed 46.87 million bags from 206,396 flights, averaging 128,400 bags daily.
- The Passenger Operations Department has over 845 inspection officers supported by 77 baggage inspection devices.
Arts & Culture
Qatar eyes second successive Asian Cup in final against Jordan
Doha, Qatar - An Asian Cup full of late goals and surprises reaches a climax on Saturday when hosts and holders...
- With much of the crowd behind them and as reigning champions, Qatar will be expected to beat a Jordan side ranked 29 places below them by FIFA
- In striker Akram Afif, Qatar have one of the players of the tournament and he scored a glorious goal against Iran to take his tally to five in six games
Most Read
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
In Data Center Alley, AI sows building boom, doubts
Ashburn, United States -- As planes make their final approach to Washington DC's Dulles Airport, just below lies Ashburn, a...
Business
Company News
Latest News
Elon Musk asks US court to block OpenAi’s for-profit conversion
Washington, United States -- Elon Musk has again asked a US court to stop ChatGPT-maker OpenAI from converting into a for-profit...
Business
Turkish-backed jihadists breach Aleppo, displacing thousands and cutting vital highway to Damascus
By Friday, the jihadists and their allies had taken more than 50 towns and villages in the north and entered...
Okonjo-Iweala’s second term: Trump’s disdain for WTO biggest challenge
Ngozi Okonjo-Iweala, the first woman and the first African to head the WTO, is the only candidate in the race,...
Geostrategy
Most Read
Geostrategy
How are countries regulating the wild west of social media for minors?
Paris, France -- A handful of nations are trying to clean up social media with measures including robust privacy provisions and...
- Among the countries taking action is Australia, which on Thursday passed a landmark law banning children under 16 from social media.
- In June 2023 France passed a law requiring social media platforms to check the age of users and obtain parental consent for those under 15 years of age.
Geostrategy
OPEC+ postpones meeting amid signs of ‘discord’ on output plans
The 22-member OPEC+ group led by Saudi Arabia and Russia was due to decide on its 2025 output policy at...
- An OPEC spokesman told AFP that the December meeting will be held online.
- In a bid to boost crude prices, eight OPEC+ members announced earlier this month they were extending supply cuts until the end of December.
Interview
EVs just the start, urban mobility needs a holistic approach
Cities must adopt EVs alongside shared transport, robust infrastructure, clean energy, and inclusivity, says Jamie Wylie, an urban mobility expert.
- One of the biggest hurdles to EV adoption is ensuring a network of accessible, reliable charging stations.
- According to the Global EV Outlook 2024, public charging infrastructure is expected to increase sixfold by 2035, with a focus on cities.