UAE says will not arm Sudan paramilitary RSF: White House
Washington, United States -- The United Arab Emirates has informed the United States that it will not arm paramilitaries in Sudan's...
Geostrategy
Saudi tourism sector employee number rises by 5.1 percent in second quarter
Riyadh, Saudi Arabia – The number of employees in tourism-related activities in Saudi Arabia increased by 5.1 percent in the...
Business
Geostrategy
UAE joins $275m global effort toward Romania’s clean energy goals
Abu Dhabi, UAE -- The UAE has joined global partners such as the US, Japan, and South Korea to commit...
- This is the first major nuclear energy initiative to be supported under the Partnership for Accelerating Clean Energy (PACE).
- PACE aims to catalyze $100 billion in financing, investment, and other support to deploy 100GW of clean energy capacity by 2035.
Sudan war leaves farmers of gum Arabic without business
Sudan is the world's largest producer of the raw gum which is a major source of foreign currency for the...
- A gum arabic producer in Sudan, Ahmed Mohammed Hussein, said the absence of buyers has led to a price collapse of around 60 percent
- Gum arabic exports from Sudan totalled 88,000 tonnes in 2021, earning $110 million, according to central bank figures, the latest official data available
Business
TAQA, Uzbekistan to explore power projects, infrastructure investment opportunities
Abu Dhabi, UAE - Abu Dhabi National Energy Company (TAQA) has announced a collaboration with the Government of Uzbekistan to...
- The agreement covers proposals for a greenfield combined cycle power plant with a capacity of approximately 1.5 GW
- The new partnership is expected to cover the design, financing, engineering, ownership and operation of the power plant by TAQA
OIC experts discuss draft plan for Persons with Disability
Jeddah, Saudi Arabia - The Organization of Islamic Cooperation (OIC) on Sunday discussed a plan of action on the protection...
- The finalization and adoption of the OIC Plan of Action will mark an important step forward in promoting inclusivity, and protection of individuals with disabilities
- The initiative followed a resolution made at the 42nd session of the Council of Foreign Ministers on cultural, social, and family affairs held in Kuwait in 2015
Geostrategy
Bahrain to resume diplomatic relations with Lebanon
The Bahraini decision comes the day after the Arab League summit in Saudi Arabia against a backdrop of unexpected rapprochement...
- Bahrain followed Saudi Arabia in recalling their diplomats towards the end of 2021 after a Lebanese minister criticized Riyadh's military intervention in the war in Yemen.
- Lebanon's prime minister Najib Mikati said the country "appreciated this decision and welcomes it". Saudi Arabia returned its envoy to Lebanon in April last year.
Economy
Saudi Arabia signs a $39m pact with the Global Fund to fight pandemics
Geneva, Switzerland – The Saudi Fund for Development (SFD) signed on Friday a $39 million multiyear contribution agreement with the...
- The grant will support the fight to end global pandemics and strengthen health and community systems
- Over the last 20 years, the Global Fund has worked to fight the world’s three deadliest epidemics: HIV, TB, and malaria
Business
$36m plot of land among $2.47bn Dubai weekly realty deals
Dubai, UAE -- A total of 3,105 real estate transactions worth AED9.1 billion ($2.47 billion) were conducted in Dubai during...
- The DLD report showed that 191 plots were sold for AED1.14 billion, and 2,284 apartments and villas were sold for AED6.03 billion.
- Al Hebiah Fifth recorded the top transactions for this week with 54 sales worth AED185.13 million, followed by MADINAT HIND 4 with 34 sales worth AED50.26 million.
Business
Proven Robotics integrates ChatGPT with Pepper humanoid robot
Dubai, UAE: PROVEN Robotics, a robotic solutions provider, announced the successful integration of natural language artificial intelligence (AI) technology, ChatGPT,...
- The integration presents an opportunity to demonstrate the ground-breaking capabilities of both ChatGPT and Pepper
- The ChatGPT in Pepper offers several significant benefits including improving Pepper’s natural language understanding
Economy
Strong economy, HNWIs help GCC luxury market thrive
TRENDS explores how the growing number of high net worth individuals (HNWIs) in the GCC region is boosting demand for...
- GCC economies witness significant growth driven by robust oil production and exports
- Increased affluence in the region fuels a continuous rise in luxury product spending
Economy
Strong economy, HNWIs help GCC luxury market thrive
TRENDS explores how the growing number of high net worth individuals (HNWIs) in the GCC region is boosting demand for...
UAE says will not arm Sudan paramilitary RSF: White House
Washington, United States -- The United Arab Emirates has informed the United States that it will not arm paramilitaries in Sudan's...
Geostrategy
Company News
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Abu Dhabi Airports, Paris Airports to expand air transport infrastructure
Abu Dhabi, UAE-- Abu Dhabi Airports has expanded its existing collaboration with Paris Airports Group (ACG) to focus on collaborating...
Business
Video gamers set for world’s biggest trade show, likely to generate $180bn
Paris, France -- The world's largest video game trade show, Gamescom, opens its doors on Tuesday in Germany at a sensitive...
Business
Not facing a deal but imposition of American diktats: Hamas
"To say that we are getting close to a deal is an illusion," Hamas political bureau member Sami Abu Zuhri...
Geostrategy
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Business
Gold hits record high, oil prices slide on weak Chinese demand
Expectations of US interest rate cuts weakened the dollar, while oil prices tumbled as weak Chinese demand expectations offset turmoil...
- Oil prices slumped more than 1.5 percent. "The significant price recovery on the oil market has run out of steam in recent days," said Commerzbank analyst Carsten Fritsch.
- "For one thing, the feared retaliatory strike by Iran (on Israel) has so far failed to materialize, which has probably favored a partial pricing out of the risk premium," he said.
Business
UAE, Saudi Arabia lead Middle East IPO surge in second quarter
Abu Dhabi, UAE -- The IPO market in the Middle East and North Africa (MENA) region remained resilient during the...
- A total of 14 IPOs recorded total proceeds of US$2.64 billion, up 45.3 percent compared to the same period last year.
- The UAE’s Alef Education Consultancy LLC and Spinneys 1961 Holding Plc accounted for 33.8 percent of the region’s total proceeds for the quarter.
Geostrategy
UN, EU and US decry extremist Israeli minister’s prayer at Al-Aqsa
"We are against any efforts to change the status quo within the holy sites," said deputy spokesman Farhan Haq. "Al-Aqsa...
- The EU strongly condemned "the provocations by Israeli Min. Ben Gvir who, during his visit to the Holy Sites, advocated for the violation of the status quo".
- The United States said Ben Gvir had hurt efforts for talks towards a Gaza ceasefire, adding the US stands for historic status quo.