Lebanon flights suspended as Hezbollah-Israel tensions continue to spiral out of control
Major airlines such as Emirates, Qatar Airways and Air France have suspended growing numbers of flights to Lebanon as tensions...Economy
Residential, hospitality sectors drive Saudi Arabia’s real estate market in H1 2024
The Kingdom’s tourism and entertainment investments, including a new star rating system, support growth in hospitality, positioning Saudi Arabia as...Economy
Iran to sign long-term contract with India on Chabahar Port
Tehran, Iran-- Iran will sign a long-term contract with India to develop Chabahar Port, according to the Islamic republic's minister...The Iranian minister said that a long-term contract to operationalize Chabahar Port will be signed with India in the near future
He said that in order to develop the country's transit, it is important to develop north-south corridors with a rail connection
DP World spends US$6bn
It invested the money to be a big supply chain player.DP World's CEO, Sultan Ahmed bin Sulayem, made the remarks during the 21st Arab Media Forum in Dubai, at a session titled ‘Trade in a Changing World’
He said the company made the switch from operating ports to becoming a global leader in smart end-to-end supply chain logistics, facilitating worldwide trade flows
Innovation steers Middle East through tourism swings
Facing tourism seasonality challenges, the region diversifies offerings, enhances infrastructure, and collaborates, for year-round success despite temperature fluctuations.The Middle East combats tourism seasonality and temperature challenges with innovative strategies for consistent year-round appeal
Using diversified tourism, improved infrastructure, and collaboration, destinations can maximize off-peak season benefits in the region
France warns Lebanon financial aid at risk over presidency deadlock
French President Emmanuel Macron's special envoy urged Lebanese factions to find a "third way" for electing a new president, warning...Lebanon has been without a president for almost a year after ex-head of state Michel Aoun's mandate expired.
Lebanon's president is elected by parliament, where neither side has a majority, rather than by universal suffrage.
Dubai Government reduces public debt by US$7.8bn
DUBAI, UAE - The Public Debt Management Office (PDMO) of the Government of Dubai's Department of Finance (DOF) announced a...The achievement has been realized within a year and a half since the establishment of the office in 2022.
This includes a full redemption of Sukuk certificates worth $898 million, the repayment of bilateral and syndicated facilities totaling $1.4 billion.
China grants Approved Destination Status to Saudi Arabia
RIYADH, SAUDI ARABIA – China on Tuesday granted Approved Destination Status (ADS) to the Gulf Kingdom.The bilateral agreement, signed on...The bilateral pact allows Chinese citizens to travel to Saudi Arabia in group tours in addition to facilitating greater ease of access.
ADS will drive greater connectivity between Saudi Arabia and China and unlock new opportunities across the tourism ecosystem.
Non-oil sector to drive UAE economic growth to 3% in 2023: S&P
S&P analysts anticipate continued growth within the UAE's robust tourism sector. The country's ability to host major international events is...Analysts expect the UAE banking sector to remain robust, with profitability improving beyond pre-pandemic levels due to rising interest rates.
Banking sector's profitability is expected to improve and exceed pre-pandemic levels due to rising interest rates and technological advancements.
QatarEnergy inks pact with Marubeni
QatarEnergy will supply naphtha to Marubeni for 10 years.This pact builds on the five-year Naphtha sales agreement signed in 2018 between QatarEnergy and Marubeni Corporation.
Japan-based Marubeni Corporation is the largest petrochemical feedstock trading entity and aggregator in Asia.
Rising demand for critical metals pose dilemmas for investors
PARIS, FRANCE - Soaring demand for the raw materials needed for the transition towards renewable energy is creating dilemmas for investors...Demand for lithium, an essential component of car batteries, could increase ninefold between 2022 and 2050, said the International Energy Agency.
Lithium and other metals that the IEA calls “key to the clean energy transition” will be the topic of a summit hosted by the global energy watchdog in Paris.
Saudi Arabia draws 135m visitors for entertainment events by mid-2023
Riyadh, Saudi Arabia - Saudi Arabia has attracted 135 million visitors to events hosted in 120 cities up to the...The GEA has been instrumental in transforming Saudi Arabia's entertainment landscape, issuing more than 14,000 licenses
Saudi Arabia's flourishing entertainment scene is part of its ambition to become a global hub for culture and leisure
