Flydubai inks $13bn Boeing deal for 75 jets as city’s airlines build up
State-owned flydubai and its long-haul partner airline, Emirates, have been the chief deal-makers at this week's Dubai Airshow, the largest...
Business
Hamas back on Gaza streets, acts against gangs and armed clans
For many Palestinians rebuilding their homes and lives amid Gaza's rubble, the sight of the Hamas forces was reassuring. Many...
Geostrategy
Dozens of court cases in Morocco tied to online activity: Rights group
The Moroccan Association for Human Rights said proceedings were launched "on the basis of political opinions, investigations, press articles published...
- The group said rights activists, as well as ordinary people, have been jailed on charges ranging from "attacking Islam or the monarchy" to "insulting civil servants."
- The authorities say they are battling defamation and "attacks against individual freedoms" on social networks, calling these "crimes" punishable by imprisonment
Economy
Fitch credit downgrade upsets US Treasury Secretary, shakes markets
Markets slid on Thursday as traders shifted to safer assets after Fitch downgraded the United States' credit rating from AAA...
- The primary catalyst behind this historic downgrade is the steady erosion of governance standards over the last two decades
- The downgrade comes on the heels of a significant bipartisan agreement reached in June to suspend the debt limit until January 2025.
Business
Saudi, Brazil companies partner for collaboration in water desalination
Sao Paulo, Brazil - Saudi Arabia's Saline Water Conversion Corporation (SWCC) has signed a memorandum of understanding (MoU) with the...
- The agreement provides opportunities for localization and content enrichment in electrical engineering
- It also focuses on developing and enhancing the efficiency of various electrical systems
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
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
Flydubai inks $13bn Boeing deal for 75 jets as city’s airlines build up
State-owned flydubai and its long-haul partner airline, Emirates, have been the chief deal-makers at this week's Dubai Airshow, the largest...
Business
Company News
Latest News
Saudi Aramco’s quarterly profit drops 15% on low oil prices
Riyadh, Saudi Arabia -- Energy giant Saudi Aramco reported a 15 percent year-on-year drop in third-quarter profit on Tuesday, citing prices...
Business
Securing the digital future: AI and global cooperation foster cyber resilience
While AI accelerates the detection and management of threats, cybercriminals also leverage this technology for sophisticated attacks, says WEF's cybersecurity expert Filipe Beato.
Interview
B-52 bombers arrive in Middle East: US military
Washington, United States -- American B-52 bombers have arrived in the Middle East, the US military said Saturday, a day after...
Geostrategy
Most Read
Geostrategy
Saudi, US FM says could move ‘quite quickly’ on some deals with US
Since last year Saudi Arabia has been bargaining hard for a defense pact with the United States as well as...
- Crown Prince Mohammed bin Salman last month ruled out recognizing Israel without the establishment of a Palestinian state.
- Foreign Minister Prince Faisal bin Farhan reiterated that normalization was "off the table until we have a resolution to Palestinian statehood".
Business
DAE 9M net profit $310m
The company said this was a 54.9 percent YoY increase in net profit.
- Profit before tax settled at $326.6 million for the same period, compared to $207.5 million last year.
- Total revenue was $1.017 billion for the nine months, a YoY increase of $27.9 million, or 2.8 percent.
Economy
Global economy faces ‘low normal’ growth, widening inequality gap
The organization’s Trade and Development Report 2024 warned that this new “low normal" growth is insufficient to tackle pressing development and...
- While the global South experienced robust annual growth rates of 6.6 percent between 2003 and 2013, that figure has fallen to 4.1 percent over the past decade.
- This has made it harder for nations to expand social services, cover rising energy transition costs and manage mounting public debt.