US stocks mostly rise ahead of expected rate cut, bitcoin hits new record
The Fed is widely expected to cut its key lending rate for a third straight time, reducing it by a...
Business
Family-friendly ‘Astro Bot’ wins highest award at Oscars of video games
Los Angeles, United States -- Video game "Astro Bot" -- a family-friendly sci-fi adventure -- was named 2024's Game of the...
Business
Business
Strong fraud detection boosts security of UAE banks
"The UAE is well positioned to further strengthen its leadership in combating fraud, with continued investment in technology, training and...
- The UAE's focus on digital transformation and innovation enhances fraud detection and control capabilities, says Jamal Saleh, Director General of UAE Banks Federation
- Tasharuk platform plays a crucial role in detecting cyber risks while continued investment in technology and collaboration strengthens UAE's banking system, he adds
Three countries to get $280m for financing education programs
A total of $280 million will be provided to Cameroon, Kyrgyzstan and Uzbekistan as innovative financing under the SmartEd initiative...
- Developed in Dec 2021 by GPE and the ACG, a grouping of Arab financial development institutions, the nitiative has generated $500m to support education in lower-income countries.
- Funds under the initiative are accessible to 37 countries that are members of the Organization of the Islamic Cooperation and collectively are home to 28m out-of-school children.
Economy
QC exhorts Vietnamese firms to benefit from ‘investment climate’ in Qatar
Doha, Qatar--Qatar Chamber (QC) has urged Vietnamese companies to benefit from the investment climate in Qatar and the investment incentives...
- The investment ties between the two countries particularly in healthcare and pharmaceuticals have witnessed significant growth in recent years
- Qatar Chamber urged companies from Vietnam to take advantage of the incentives, infrastructure, economic legislation in Qatar to grow their businesses
Business
Dubai luxury realty market at new heights
The emirate's luxury home sales surged to $1.63 billion in Q1 2023, as affluent buyers acquired 88 units exceeding $10...
- A plot of land on Dubai's prestigious Jumeirah Bay Island has been sold for an astounding $34 million, setting a new record in the UAE's real estate market
- Palm Jumeirah, Emirates Hills and Jumeirah Bay Island are prime residential neighborhoods in Dubai, the world's fourth-most active luxury residential market
Geostrategy
Saudi Arabia and Iran discuss ‘opportunities to develop and strengthen’ ties
Riyadh, Saudi Arabia-- Saudi Arabia and Iran have discussed ways to strengthen the ties between the two countries in a...
- The Iranian minister described the expansion of the Saudi-Iranian relations as a "win-win" development
- The two ministers met in Jeddah on the sidelines of the Islamic Development Bank Group's conference
Economy
Iraq to resume Kurdish oil exports to Turkey Saturday
On Thursday the Kurdish authorities said in a statement that "the Kurdistan regional government and the federal authorities have reached...
- The Kurdish regional government had for years earned billions of dollars in revenues exporting oil to Turkey without the Iraqi federal government's approval
- Following years of wrangling, a preliminary agreement was reached in early April, granting the Iraqi federal government control over exports
Business
Petro Rabigh Q1 loss $257m
The company attributed the loss to 'unfavorable market conditions'.
- Compared to the last quarter of 2022, however, the company reported a 46.77 percent fall in net losses from SAR 1.81 billion in Q4 2022 to SAR946 million in Q1 2023.
- The accumulated losses as of Mar 31, 2023, amounted to SAR 2.66 billion, representing 15.96 percent of the company's share capital of SAR16.71 billion.
Business
Inter-Arab investments low, need favorable conditions to grow: Hanafi
Dubai, UAE -- The UAE had become a center for foreign investments, leading Arab, regional and global rankings in attracting...
- UAE had become a center for foreign investments, leading Arab, regional and global rankings in attracting investments.
- A rise in the volume of investments entering Arab countries would be accompanied by an increase in inter-Arab investments.
Geostrategy
Syrian President receives invitation to Arab summit in Saudi Arabia
The pan-Arab body had suspended Damascus in November 2011 over its crackdown on protests, which began earlier that year and...
- On Sunday, the Arab League welcomed back Syria's government, securing Assad's return to the Arab fold after years of isolation.
- The invitation comes a day after Riyadh and Damascus announced that work would resume at their respective diplomatic missions in Syria and Saudi Arabia.
Business
UAE issues decision on conditions of exemption from corporate tax
Abu Dhabi, UAE -- The UAE Ministry of Finance has issued a decision on conditions under which a "person may...
- The decision clarifies rules to ensure that businesses remain eligible for tax exemption if they fail to meet the relevant exemption conditions under certain circumstances.
- Younis Haji Al Khouri, Undersecretary of the Ministry of Finance, said the decision was important to ensure a transparent and efficient tax system.
US stocks mostly rise ahead of expected rate cut, bitcoin hits new record
The Fed is widely expected to cut its key lending rate for a third straight time, reducing it by a...
Business
Company News
Latest News
‘Children torn apart’: Israel strike rains hell on Gaza dawn prayers
Dawn prayers were shattered by the early morning triple air strike from Israeli warplanes, which gutted Al-Tabieen religious school and...
Geostrategy
Israel agrees to resume Gaza truce talks next week
A prospective cessation of hostilities also involving the release of hostages held in Gaza and scaled-up aid deliveries has centred...
Flying’s never been safer, risk of death halving every decade: MIT study
Washington, United States -- Flying can be a nerve-wracking experience for many people -- but a new study out Thursday finds...
Geostrategy
Most Read
Business
Oil and gas sector in Arab countries attracts projects worth $406bn
Kuwait: -- The oil and gas sector in Arab countries attracted 610 projects implemented by 356 foreign and Arab companies,...
- United States topped the list as the most important investing country in the Arab region in the oil and gas sector with 85 projects.
- Russia ranked first in terms of investment costs, with a value of US$ 61.5 billion, representing about 15.2 percent of the total.
Geostrategy
Turkey joins South Africa’s Israel ‘genocide’ case at ICJ
A Turkish parliamentary delegation accompanied by the Turkish ambassador to the Netherlands filed a "declaration of intervention" at the ICJ's...
- South Africa's Dec 2023 case alleges that Israel's Gaza offensive, launched in retaliation for Hamas' bloody October 7 attack on Israel, breached the 1948 UN Genocide Convention.
- In a ruling January 26, the ICJ told Israel to do everything possible to prevent acts of genocide during its military operations in Gaza, which have left nearly 40,000 dead.
Geostrategy
Bangaldesh Nobel winner Yunus ready to lead after Hasina flees
Dhaka, Bangladesh -- Bangladesh Nobel winner Muhammad Yunus said Tuesday he is ready to head a caretaker government, a day after...
- Microfinance pioneer Yunus, 84, is credited with lifting millions out of poverty -- earning the enmity of ousted Hasina and the wide respect of millions of Bangladeshis.
- Army chief General Waker-Uz-Zaman announced Monday the military would form an interim government, saying it was "time to stop the violence".