Saudi powers forward with deficit spending to fund reforms
The Arab world's largest economy is overseeing a major push to slash its dependence on oil revenues, with officials pouring...
Economy
Israel returns 15 bodies to Gaza after hostage remains identified
It came after Israel announced that a body handed over by Hamas on Tuesday was that of Dror Or, one...
Geostrategy
Economy
‘Private sector plays vital role in Gulf integration’
"The GCC has all the potential to become a strong economic alliance capable of asserting itself on the global economic...
- The GCC has all the potential to become a strong economic alliance capable of asserting itself on the global economic map.
- This potential is attributed to its natural resources, distinctive geographical location, and robust global alliances with nations.
Geostrategy
Music gives Gaza children respite from horrors
The United Nation says children make up half of the 1.9 million displaced Palestinians and a sizable number have been...
- Volunteer entertainer Ruaa Hassuna says that when her young audiences hear her musical instrument, they "no longer hear the hum of the drones"
- Many of the children in the troupe's audiences are hardened beyond their years, their innocence shattered by fear and bereavement
Geostrategy
Israel troops kill 3 hostages mistaking them for ‘threat’
The Israeli army said that it had mistakenly identified three Israeli hostages as a threat, and fired, killing three of...
- The army identified the hostages as Yotam Haim and Alon Shamriz and Samer El-Talalqa
- Its spokesman said the military "bears responsibility for everything that happened"
Business
stc’s Tawal secures $999m financing
Tawal signed Murabaha pacts with SNB and SA
- The 18-month financing is covered by a promissory note by TAWAL for the full amount, stc said in a statement to Tadawul, according to Argaam.
- The credit is intended to go towards refinancing the shareholders loan extended by stc to TAWAL.
Geostrategy
Antique stoves make a comeback in Gaza as the only way to cook during war
With a squeeze of pliers, a new wick, and a refill of homemade fuel, a flash of fire miraculously begins...
- Hundreds of thousands of civilians have fled northern Gaza due to relentless bombardment and a ground invasion by Israel, leaving their belongings behind.
- The civilians hoped to be safer in the south, but the Israeli military has progressively extended its strikes across the tiny coastal territory in its war aiming to destroy Hamas
Geostrategy
Mideast ministers met with Joly, Trudeau in Ottawa to discuss Israel-Hamas war
OTTAWA, CANADA — A group of foreign ministers from the Palestinian Authority, Saudi Arabia and Turkey met Canadian Foreign Affairs...
- The quietly planned meeting focused on ways countries could help efforts to secure peace for Palestinians and Israelis.
- The group is not a joint peace project with Israel, and says its leaders aim to speak on behalf of Arab and Muslim people people.
Geostrategy
Joint ministerial committee meets US secretary of state
Washington, US – A committee of the Joint Arab-Islamic Extraordinary Summit under the chairmanship of Prince Faisal bin Farhan bin...
- A ministerial committee led by Saudi foreign minister holds discussions with US Secretary of State.
- The committee asked the US to influence Israel and called for an immediate ceasefire in Gaza.
Geostrategy
Iran says reviving nuclear deal ‘useless’
Tehran, Iran - Iran said on Saturday that attempting to revive its landmark nuclear deal with world powers that was effectively...
- "Today, the more we advance, the more the JCPOA becomes useless," Foreign Minister Hossein Amir-Abdollahian said in a speech.
- Iran says its nuclear program is entirely peaceful, but since 2021 the UN body has struggled to monitor the development of its capabilities.
Business
EU clinches ‘historic’ deal on AI law after long negotiations
The EU's internal market commissioner, Thierry Breton. called the deal as historic, regulating artificial intelligence models such as ChatGPT. Negotiators...
- The commissioner said the AI Act is much more than a rulebook , calling it a launchpad for EU startups
- The EU law will still need to be formally approved by member states and the parliament
Business
Nasdaq faces $4m penalty for alleged Iran sanctions violations
New York, United States - Nasdaq Inc., headquartered in New York, has agreed to pay a $4 million settlement to...
- The violations stemmed from services provided by Nasdaq OMX Armenia to Iran and Iran's state-owned Bank Mellat
- Office of Foreign Assets Control noted that the settlement amount reflects their assessment that Nasdaq's actions were non-egregious
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
Saudi powers forward with deficit spending to fund reforms
The Arab world's largest economy is overseeing a major push to slash its dependence on oil revenues, with officials pouring...
Economy
Company News
Latest News
Masdar acquires Saeta Yield
Business
Iran denies involvement as UAE arrests three people in rabbi killing case
"This murder was carried out in the UAE. The murder of an Israeli citizen and a Chabad emissary, is an...
Geostrategy
Wealthy nations offer $250bn on climate but pressed for more
At the COP29 talks in Azerbaijan, developing nations are demanding a bigger commitment from historic polluters most responsible for warming,...
Geostrategy
BP announces $7bn gas project
The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.
Business
Most Read
Business
Adani Group tanks after US bribery charges
India's opposition leader demands Gautam Adani's arrest; Kenya scraps airport, power deals with the Group that has significant investments in...
- Adani, once the world's second-richest man, is a close ally of Prime Minister Narendra Modi and critics have long accused him of benefitting improperly from their relationship.
- The conglomerate saw $150 billion wiped from its market value in 2023 after a shock report by short-seller Hindenburg Research accused it of "brazen" corporate fraud.
Business
Lulu Retail Q3 profit $35m
For the nine-month period, net profit increased by 73.3%.
- In its first financial update since its record IPO on ADX, the company posted a revenue growth in Q3 2024, reaching $1.86 billion, up 6.1% YoY.
- The UAE saw strong revenue growth of 7.5% in Q3 2024, mainly driven by healthy LFL growth of 4.7% during the quarter.
Arts & Culture
Banana taped to a wall sells for $6.2 million
The provocative work of conceptual art by Italian artist Maurizio Cattelan debuted at the Art Basel show in Miami Beach...
- The sale featured seven potential buyers and smashed expectations, with the auction house issuing a guide price of $1-1.5 million before the bidding.
- As well as his banana work, Cattelan is also known for producing an 18-carat, fully functioning gold toilet called "America" that was offered to Donald Trump during his first term.