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
Human ancestor Lucy gets first European showing in Prague
Prague, Czech Republic --The 3.18-million-year-old bone fragments of human ancestor Lucy, which rarely leave Ethiopia, went on display in Prague...
Science
Business
GCC digital banking targets $2trn with cloud services
GCC authorities, however, acknowledge the accompanying challenges and are developing regulations to enhance digital banking experiences. A key requirement is...
- The next phase of the digital revolution in the region will see 5G services reaching two-thirds of the population by 2026, enhancing the end-to-end customer experience
- By 2025, Saudi Arabia aims to boost fintech GDP contribution to $ 1.2bn and increase the number of fintech players. UAE and Kuwait are also making strides in digital banking.
Business
Dubai International Chamber attracts 5 MNCs, 20 SMEs in Q1
Dubai, UAE -- Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has attracted five Multinational Corporations...
- The chamber also supported the expansion of seven local and national companies into foreign markets by helping them increase their exports or establish a presence abroad.
- The Chamber also opened a new representative office in Hong Kong, bringing the total number of its international offices to 16 by the end of Q1 2023.
Geostrategy
US, Saudi Arabia urge Western nations to repatriate IS militants
Riyadh, Saudi Arabia -- Riyadh and Washington urged Western governments Thursday to repatriate citizens who joined the Islamic State group in...
- Saudi Foreign Minister Prince Faisal bin Farhan said it was "disheartening and absolutely unacceptable" that some wealthy countries had not brought their nationals home.
- The United Nations estimates that IS still has 5,000 to 7,000 loyalists across the two countries, roughly half of whom are fighters.
Economy
Saudi Arabia’s GDP grows 3.8 percent in first quarter: GASTAT
The Gross Domestic Product at current prices amounted to SAR 1 trillion ($267.95 billion) in Q1/2023. Crude petroleum and natural...
- The GDP at constant prices reached SAR 753.2 billion in Q1 2023, compared to SAR 725.74 billion a year earlier, data issued by the General Authority for Statistics (GASTAT) shows.
- Non-oil activities increased 5.4 percent compared to the first quarter of 2022 and 1.1 percent quarter-on-quarter, while government activities rose 4.9 percent year-on-year.
Business
Sharjah Taxi transports 1.465m passengers in Q1 2023
Sharjah, UAE - Sharjah Taxi reports successful transport of 1.465 million passengers during the first quarter of 2023. With a...
- With a fleet of 750 vehicles of various models and brands, the company remains committed to ensuring passenger satisfaction, safety, and comfort
- Khalid Al Kindi, the Executive Director of Sharjah Taxi, emphasized the company's commitment to providing innovative services and prioritizing luxury experiences
Economy
OECD slightly raises world GDP growth forecast to 2.7 percent
The Paris-based organization forecast an economic expansion of 2.7 percent, up from 2.6 percent in its previous report in March,...
- A drop in energy prices, the untangling of supply chain bottlenecks and China's sooner-than-expected reopening are contributing to the recovery, the OECD said.
- Among its 38 members -- an eclectic group ranging from the United States to Germany, Mexico, Japan and New Zealand -- inflation is expected to slow to 6.6 percent this year.
Geostrategy
CNN chief Chris Licht has stepped down: Warner Brothers
After joining CNN last year, Licht came under fire for editorial decisions including a recent town hall meeting with former...
- Licht had sharply criticized CNN's news coverage of Trump under former news chief Jeff Zucker in a recent Atlantic article.
- The article also characterized Licht as aloof and distrusted among rank-and-file network journalists, who were also critical of his handling of other controversies.
Business
Direct deal on Taaleem Holding Group shares nets $4.65m on DFM
Dubai, UAE -- Dubai Financial Market (DFM) saw on Monday a direct deal on 5.25 million shares of Taaleem Holding...
- The Group's share closed 7.78 percent higher at AED 3.6 after trading of more than 32 million shares at the value of AED 113.1 million ($31 million) through 1,608 deals
- National Bonds Company, a Sharia-compliant saving and investment company, announced its acquisition of an additional 5 percent stake in the Taaleem Holding Group
Modric, Lloris among ‘more than 10’ Saudi targets, besides Messi and Benzema: source
Saudi authorities are "in contact with more than 10 players, many of them won the World Cup or the Champions...
- Sergio Ramos, Jordi Alba, Sergio Busquets, N'Golo Kante, Angel Di Maria and Roberto Firmino are also among the World Cup and Champions League winners being lined up
- The latest information comes as Saudi officials are in Paris and Madrid to try to wrap up deals with Messi and Benzema respectively, according to sources and reports
OPEC+ update: Saudi oil output cut likely to worsen fears of recession
Analysts had largely expected OPEC+ producers to maintain their current policy, but signs emerged this weekend that the 23 countries...
- While the UAE pushes for change in how its output quota is measured, the African producers are reluctant to give up their unused quota
- Oil producers are grappling with falling prices and high market volatility amid the Russian-Ukraine conflict
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
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
Company News
ADQ to invest $1bn in Sotheby’s
Business
Latest News
IMF predicts slightly slower global growth in 2024 and 2025
In its new World Economic Outlook (WEO) report, the International Monetary Fund also estimates that global inflation will continue to...
Economy
Israeli settler attacks, Gaza conflict ruin Palestinian olive harvest
UN experts said recently that Palestinian farmers in the occupied West Bank are facing "the most dangerous olive season ever".
Geostrategy
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Geostrategy
States helping Israel’s occupation may be ‘complicit’: UN experts
"Israel's internationally wrongful acts give rise to state responsibility, not only for Israel, but for all states," said Navi Pillay,...
- It also examines the implications of last month's UN General Assembly vote demanding the occupation end within a year.
- Pillay, a former UN rights chief, said all countries are "obligated not to recognize territorial or sovereignty claims made by Israel over the occupied territories".
Geostrategy
Global Future Councils meet calls for collective action to tackle global crises
Over 500 experts gathered at the World Economic Forum Annual Meeting of the Global Future Councils 2024 in Dubai to...
- Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs of the United Arab Emirates, said, “The only constant conviction we recognize every day is that nothing remains stable.”
- Sessions also explored novel approaches needed to tackle emissions while ensuring an equitable and socially responsible transition
Geostrategy
Middle East crisis top-of-mind at first EU-Gulf summit in Brussels
Confirmed at the last minute, the presence of Saudi Arabia's Crown Prince among the six Gulf leaders in attendance heightened...
- The European Union is the second-largest trading partner for GCC countries but talks on a trade pact have languished for years.
- Gulf countries have repeatedly called for the creation of a Palestinian state alongside Israel, with some playing a key role in efforts to secure a ceasefire in Gaza.