Air passenger numbers to top five billion for the first time in 2025: IATA
Geneva, Switzerland -- Air passenger numbers are forecast to top five billion for the first time next year and the sector's...
Business
Trump touts tariffs, mass deportations and NATO skepticism
In his first formal television interview -- and just six weeks before he takes office -- Trump again signaled that...
Geostrategy
Geostrategy
Home demolitions for road widening sparks anger in Gaza
Gaza City, Palestinian Territories--Ramadan Abu Saif looked on as bulldozers ploughed into his neighbor's Gaza City home, knowing his could be...
- Hamas that governs Gaza began demolishing 62 houses at Al-Shati refugee camp as they widen the territory's main coastal road.
- A community centre which hosts a football field and halls for table tennis and parkour is also slated for demolition.
Business
Diriyah signs JV agreement
It was signed with Integrated Telecom Company and TAWAL.
- The 15-year design, build and operate contract covers open-access services for visitors, tenants, and residents of Diriyah.
- In addition, more than 80 telecommunication towers are expected to be erected over the next three years.
Arts & Culture
Saudi Arabia wins seat on FIFA Council; Qatar gets a position too
Saudi Arabia has won a seat on FIFA’s ruling Council before being set to be confirmed as host of the...
- Qatar federation head Sheikh Hamad Al Thani, whose country hosts the Asian Cup next January, was elected to a FIFA position for the first time
- Saudi soccer federation president Yasser Almisehal was among six Asian officials elected by AFC members to represent them on FIFA council through 2027
Geostrategy
Lebanon’s offshore exploration agreement supports the country’s economic development, says Qatar’s minister
"This very important commitment gives us the opportunity to support Lebanon’s economic development, at this critical juncture. And I want...
- Qatar had entered a consortium to explore for offshore gas in waters near Israel, following a historic border deal last year between the two rivals
- The agreement green-lights Lebanon's exploration of its southern Qana, or Sidon, reservoir following the signing of the landmark accord last October
Business
dnata invests $10 million in Zanzibar
The company has started ops at Abeid Amani Karume International Airport
- dnata has hired and trained over 340 local talent and deployed a fleet of more than 120 pieces of ground support equipment at ZNZ
- The company by 2024 expects to handle more than 4,000 flights annually with a team of over 400 aviation professionals
Iran minister urges tolerance for women over headscarves
Zarghami said he advised a "man who behaves harshly" towards a woman not wearing headscarf to "close his eyes if...
- Ezzatollah Zarghami referred to the fact that increasing numbers of women were being seen without a hijab since the death of Amini
- Amini, a 22-year-old Iranian Kurd, died in custody after being arrested by morality police for allegedly breaching the country's strict dress code
Economy
Qatar, Pakistan finance ministers discuss investment, economic cooperation
The two ministers to explore cooperation in the fields of science and technology, agriculture, and education.
- The two ministers to explore cooperation in the fields of science and technology, agriculture, and education
- Pakistani finance minister also extended invitation to Ali bin Ahmed Al Kuwari to visit Pakistan, a press statement issued at the end of the meeting said
Economy
Economic slowdown will force workers into worse jobs: UN
The ILO said deficits in decent work had been worsened by multiple, overlapping crises, including Russia's war in Ukraine, emerging...
- As prices rise faster than incomes, the cost-of-living crisis risks pushing more people into poverty, the UN's International Labor Organization said
- ILO called for an investment surge in education and training, saying two-thirds of global youth labor force was "without a basic set of skills", which limited their job prospect
Economy
Duty-free markets at air, sea and land ports set to create jobs, help industries, benefit Saudi economy
The move aims at supporting Kingdom's infrastructure development, boosting logistics and providing unique business environment in transport sector, air traffic...
- The move aims at supporting Kingdom's infrastructure development, strengthening logistics, and providing unique business environment in the transport sector, air traffic and ports
- Free markets will increase Saudi exports, reinforcing itss efforts to diversify economy beyond oil, including tourism and travel, that will ultimately benefit the country's economy
Business
25 pacts, MoUs inked on 1st day of Saudi Future Minerals Forum
The signing ceremony also witnessed the handing over of the two exploration licenses for Khnaiguiyah and Umm Al-Damar sites to...
- The signing ceremony also witnessed the handing over of the two exploration licenses for Khnaiguiyah and Umm Al-Damar sites to the companies that won their licenses
- The agreements included the areas of mineral exploration, technology, communications and application of sustainability standards
Air passenger numbers to top five billion for the first time in 2025: IATA
Geneva, Switzerland -- Air passenger numbers are forecast to top five billion for the first time next year and the sector's...
Business
Company News
Etihad reports record Q1 profit
Business
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Aramco Q1 profit down 14.5%
Business
IHC Q1 net profit $2.17bn
Business
Dubai Summer Activities: A new guide to emirate’s attractions
Dubai, UAE -- A new #DubaiDestinations guide titled ‘Dubai’s Summer Activities’ invites residents and visitors to delve into an array...
Business
Saudi Arabia records 16% growth in air travel in first half: GACA
Riyadh, Saudi Arabia -- The number of air passengers in Saudi Arabia increased by 17 percent during the past six...
Business
2024 Global Aerospace Summit: Accelerating aerospace innovation
Abu Dhabi, UAE -- Representing the aerospace, aviation, space, and defense sectors, the premier thought leadership forum will aim to...
Business
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Business
Saudi Aramco share sale nets $12.35 billion on investor demand
Riyadh, Saudi Arabia -- Saudi Aramco netted $12.35 billion, $1 billion more than expected, from a secondary share sale after exercising...
- The offering announced in May was the largest in the Middle East since Aramco's record initial public offering (IPO) in 2019, bolstering Saudi's finances.
- Aramco, the jewel of the Saudi economy that remains mostly state-owned, announced on May 30 that it would sell 1.545 billion shares.
Business
Shell, TotalEnergies and BP take stakes in UAE gas project
Dubai, United Arab Emirates -- Energy majors TotalEnergies, Shell and BP will each take a 10 percent stake in a liquefied...
- Japanese trading company Mitsui & Co. will also acquire 10 percent of the Ruwais LNG plant, scheduled to come online in 2028, the Abu Dhabi National Oil Company (ADNOC) said.
- ADNOC, the UAE's key revenue-earner, will retain a 60 percent majority stake, the firm said following a signing ceremony.
Business
Saudi records $412m venture capital funding in H1, highest in MENA
Riyadh, Saudi Arabia -- Saudi Arabia has maintained its first rank across MENA in terms of the amount of Venture...
- E-commerce/retail was the highest sector in the Kingdom in terms of VC funding, accounting for 52 percent of total funding, amounting to $215 million.
- FinTech continued to lead the Kingdom's total number of deals, capturing 14 percent of deals in the first half of 2024.