UAE says will invest up to $50 billion in Canada
The fresh North American investment pledge came after UAE President Mohamed bin Zayed Al Nahyan promised in May to pump...
Geostrategy
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
Geostrategy
Blinken reschedules postponed Beijing visit for June 18
US Secretary of State Antony Blinken will travel to China next week, rescheduling a visit that was canceled in February,...
- Blinken is expected to arrive in Beijing on June 18, the first trip by a top US diplomat to China since his predecessor Mike Pompeo in October 2018
- Blinken abruptly canceled a trip scheduled in early February after the United States said it detected a Chinese surveillance balloon flying over the US mainland
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
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
UAE says will invest up to $50 billion in Canada
The fresh North American investment pledge came after UAE President Mohamed bin Zayed Al Nahyan promised in May to pump...
Geostrategy
Company News
Latest News
Rethink needed to make sustainable tourism work
"Growth at all costs no longer an option," says world-renowned tourism policy, planning and development expert Dr Marina Novelli in...
Geostrategy
UAE records 37% increase in greenfield FDI to $16 billion in 2023
Abu Dhabi, UAE -- The UAE has witnessed a 37% increase in greenfield investments in 2023 to reach US$16 billion,...
Business
Saudi Arabia opens resort island at futuristic mega-city NEOM
Riyadh, Saudi Arabia -- Saudi Arabia's planned futuristic mega-city known as NEOM announced on Sunday the opening of its "first physical...
Geostrategy
Most Read
Geostrategy
Israel to send negotiators to new Gaza truce talks in Qatar
The head of Israel's Mossad spy agency, David Barnea, will head to Qatari capital Doha on Sunday, the Israeli prime...
- US Secretary of State Antony Blinken said that mediators would explore new options after the failure of previous efforts to seal a ceasefire and hostage release deal.
- The US and Qatar were seeking a plan "so that Israel can withdraw, so that Hamas cannot reconstitute, and so that the Palestinian people can rebuild their lives.
Interview
Bridging skills gap: UAE, Singapore lead the way
The two countries have adopted a people-centric and collaborative upskilling approach, says Till Leopold, Interim Head of Knowledge Communities at...
- In the UAE, impressive progress has been made in defining key skills and raising national awareness on human capital development.
- Leopold highlights AI-driven energy demand as a key sector for transformation, with significant job creation in sustainable energy.
Geostrategy
Beirut’s suburbs ravaged by Israeli air raids as Blinken urges de-escalation with Iran
Israeli airstrikes on Hezbollah's southern Beirut stronghold destroyed six buildings in the deadliest assault since the war began, despite U.S....
- In southern Lebanon, Israeli strikes pounded Tyre, leaving swathes of its centre in ruins and sparking a new exodus from the once vibrant coastal city
- Concerns are mounting over tens of thousands of civilians trapped by fighting in Gaza's aid-starved north, where Israel launched a major air and ground assault this month